GoviEx Uranium Inc. and its wholly-owned subsidiary GoviEx Niger Holdings Ltd. (together,the “Companies”) are pleased to announce that they have signed with the Republic of Niger, represented by the Minister of Mines (together, the “Parties”) a letter of intent agreeing to a structured roadmap that details a mutually acceptable plan to negotiate a resolution to the ongoing dispute regarding the MadaouelaUranium Project in Niger.
This roadmap letter formalizes the recent discussions held during and subsequent to the 2025 Mining Indaba conference, in Cape Town, where both Parties engaged in constructive negotiations aimed at finding an amicable resolution.
As part of this process, the Companies have agreed to temporarily suspend the ongoing arbitration proceedings under the ICSID Convention while discussions continue within the agreed framework. This suspension will remain in place until a resolution is reached or until it is determined that no settlement is possible.
The Companies welcome the Republic of Niger’s resolve to engage in dialogue and remain committed to a negotiated outcome, however there is no certainty that the negotiations will result in a final binding and definitive agreement. Should the Parties be unable to reach a definitive resolution, the arbitration proceedings may resume accordingly. GoviEx will provide further updates to the market as developments occur.
The Madaouela Project is home to one of the world’s largest uranium resources, with 100 million pounds of U₃O₈ in measured and indicated mineral resources, along with an additional 20 million pounds in inferred resources1. At a uranium price of USD 80 per pound U3O8, the Project boasts a forecast post-tax NPV (8%) of USD 376 million and an IRR of 21%.1 The Project is expected to produce a total of 50.8 million pounds of U₃O₈, averaging 2.67 million pounds per year over its 19-year mine life.
