Niger’s mines minister visits GoviEx to inspect significant exploration and mining projects in northern Agadez Region

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The Niger’s Mines Minister, Commissaire Colonel Ousmane Abarchi has visited GoviEx Uranium’s Madaouela uranium project (the “Madaouela Project” or “Project”) as part of a broader inspection of significant exploration and mining projects within the northern Agadez Region of the country.

Announcing the visit, GoviEx Uranium Inc. (TSX-V: GXU; OTCQX: GVXXF) (“GoviEx” or “Company”) said the minister whose visit occurred on 4th May was accompanied by distinguished local leaders, including the Governor of the Agadez Region and local community officials, as well as GoviEx’s employees.

“This site visit demonstrates GoviEx’s commitment to maintaining transparency and continuing its constructive engagement with government officials and stakeholders,” said the mineral resource company in a statement.

During the visit, the Minister and accompanying delegation reviewed the ongoing ground works, assessed the current mine plans, and explored various Corporate Social Responsibility initiatives that have significantly contributed to supporting local communities and promoting socio-economic development in the region.

While the results of GoviE’x discussions with the government in relation to the formal notice to commence exploitation works at the Project remain unclear, GoviEx is confident that its discussions with the Mines Minister, notably in the context of the visit, demonstrated the Company’s commitment to work with the Nigerien government towards a mutually beneficial solution that complies with applicable law and protects its rights.

“As a company, we are committed to keeping the market informed and will provide updates as soon as more information becomes available.”

The Madaouela Project represents a significant investment in the Nigerien economy, with an anticipated initial capital expenditure of USD 343 million (1), and is expected to generate considerable employment opportunities with the potential of creating up to 800 jobs over its forecast 20-year mine life.

The Madaouela Project is also expected to contribute substantial royalty payments and taxes to the Nigerien Government. The Government holds a 20% stake in COMIMA, the Nigerien company set up to develop the Project.

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