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GoviEx Uranium and its subsidiary GoviEx Niger have initiated arbitration proceedings against the Republic of Niger under the ICSID Convention regarding the Madaouela uranium project. This action follows Niger's July 2024 decision to withdraw GoviEx Niger's mining permit and abrogate related decrees. The companies assert these actions breach obligations under various agreements and laws.

The project had secured interest exceeding USD 200 million in potential debt financing and was advancing with infrastructure development when the rights were withdrawn. The project was expected to require USD 343 million in initial capital expenditure and create up to 800 jobs over its 20-year mine life. Despite attempts at amicable settlement, including local administrative recourse, the companies are now pursuing legal remedies while remaining open to constructive dialogue with the State.

GoviEx Uranium has released its 2024 Sustainability Report, covering operations through June 30, 2024. The report showcases the company's dedication to Environmental, Social, and Governance (ESG) principles, highlighting progress in energy usage, greenhouse gas emissions, water management, and workforce diversity.

GoviEx is aligning its operations with International Finance (IFC) standards, particularly focusing on the development of its Muntanga project in Zambia. The company expects to complete the Feasibility Study for Muntanga soon and plans to begin construction after securing project financing.

Additionally, GoviEx has engaged CanadianMiningReport.com for content creation and marketing services, starting January 6, 2025, for a three-month period at C$14,250.

GoviEx Uranium announces positive results from the Feasibility Study testwork for its Muntanga Project. Key highlights include:

• Main deposits of Muntanga and Dibbwi East, accounting for 80% of M&I resources, achieved uranium recoveries of 90% or better
• Results validate the efficiency of the heap leach process
• High uranium recoveries occur within only 20 days
• Project benefits from low acid consumption
• Results support potential for small on-off leach pads

The extensive metallurgical test work program, conducted at Mintek, South Africa, improves confidence in recovery rates and processing design for the upcoming Feasibility Study, due before year-end.

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) has secured an option to acquire a 51% interest in the Lundazi exploration license in Zambia, covering 817.9km2 of Karoo Supergroup formations. This strategic move aligns with GoviEx's expansion plans in Zambia, complementing its Muntanga Project where a Feasibility Study is due in H2 2024. The company can earn its stake by investing up to $1.5 million over three years, with an initial commitment of $300,000 in the first year.

CEO Daniel Major highlighted the geological similarities between Lundazi and Muntanga, emphasizing Zambia's mining-friendly environment. Chief Geologist Jerome Randabel noted promising geological features, including faults and radiometric anomalies, indicating potential uranium deposits. GoviEx plans to commence exploration with geological mapping and radiometric surveys, followed by a drilling campaign in 2025.

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) has announced the granting of annual incentive stock options to select directors, officers, employees, and a consultant. The options allow for the purchase of up to 17,380,000 Class A common shares in GoviEx's capital stock. These options are exercisable at $0.05 per share, with a vesting schedule of 25% on the grant date and 25% on each subsequent anniversary until fully vested. The options have an expiration date of August 20, 2029. This grant is in accordance with GoviEx's Share Purchase Option Plan.

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) has been informed by the Government of Niger that it no longer has rights over the mining permit for its Madaouela Project. This decision comes despite nearly two decades of development efforts that transformed Madaouela into one of the world's largest known uranium deposits. GoviEx is contesting this decision and seeking legal recourse to protect its investments.

In light of these developments, the company is shifting focus to its Muntanga Project in Zambia. Muntanga has all main permits and GoviEx plans to publish its feasibility study later this year. The project has Mineral Resources of 42.6 million tonnes at an average grade of 359 ppm U3O8, containing 33.7 million pounds of U3O8 (M&I), and additional Inferred resources.

GoviEx remains committed to navigating these challenges and capitalizing on the growing demand for clean energy and uranium.

GoviEx Uranium announced that the Government of Niger has revoked its rights to the Madaouela mining permit, placing the permit area in the public domain without following the prescribed withdrawal procedure. GoviEx plans to challenge this decision through national or international legal avenues. The company has invested heavily in the Madaouela Project, including a 650,000-meter drilling campaign and a feasibility study published in 2022. Despite recent uranium price recovery and substantial development efforts, including a $200 million financing interest, environmental assessments, and initial groundworks, the project now faces significant setbacks. GoviEx argues that the revocation will negatively impact Niger's economic and social development, noting that the Madaouela Project was expected to create 800 jobs and require an initial capital expenditure of $343 million. Meanwhile, GoviEx continues to advance its Muntanga project in Zambia, with a feasibility study expected in late 2024.

GoviEx Uranium has received a radiological certificate from the Nigerien Government for its Madaouela uranium project. This regulatory milestone confirms the completion of radiological baseline studies, enabling the start of mining operations.

The project will require an initial capital expenditure of $343 million and is expected to create up to 800 jobs over its 20-year lifespan. Additionally, it will contribute substantial royalties and taxes to the Nigerien Government, which has a 20% stake in the local company COMIMA SA set up for the project.

The information has been verified by GoviEx's Chief Geologist, Jerome Randabel, as per Canadian NI 43-101 standards.

GoviEx Uranium, a mineral resource company focusing on uranium exploration in Africa, has announced the voluntary filing of its Annual Information Form (AIF) for the year ended December 31, 2023. This follows the earlier submission of its audited consolidated financial statements and management's discussion and analysis for the same period. The documents are accessible on the company's website and SEDAR+ platform. The TSX Venture Exchange and its regulation services provider have not reviewed or accepted responsibility for the adequacy or accuracy of the release.