TNT Identifies Anomalous Uranium Concentrations at East Canyon Uranium Project in Utah, USA

Highlights
• Extensive workings identified at Bonanza Prospect, including mineralised faces drilled for firing
• Visible uranium and vanadium mineralisation observed throughout both the Bonzanza and None Such mine workings
• Extremely high handheld scintillometer readings of 40,000+ counts per second (c/s) associated with visible uranium mineralisation
• Rock chip and channel samples sent for assaying, with mapping data currently being collated
• Numerous historic drill holes identified on the East Canyon Project

TNT Mines Limited (ASX: TIN) (TNT or the Company) provided an early update on the initial exploration program at its 100%-owned East Canyon Uranium-Vanadium Project, located in the extended Uravan Mineral Belt in south-eastern Utah, USA.
Mapping and sampling undertaken as part of the first phase exploration program has been focused in the northern area of the East Canyon claim holdings where the historic None Such and Bonanza mine workings are located.

In the course of this work, the exploration team discovered that the Bonanza workings, stopes and air-shafts were more extensive than initially understood, and subsequently focused greater attention on this area.

Extensive Mineralisation Confirmed at the Bonanza and None Such Mine Workings The exploration team observed extensive visible mineralisation throughout both the None Such and Bonanza workings (Figure 1). Extremely high readings up to 42,000 counts per second (c/s) on a handheld scintillometer were also noted within both workings (Figure 2). (Note: A handheld scintillometer is a tool used by geologists to assess a gamma count rate in counts per second (c/s), with higher counts expected to be associated with uranium mineralisation. Readings above 5,000 c/s are considered highly anomalous in the region. Chemical analysis is required to ascertain absolute uranium mineralisation values due to radioactive disequilibrium effects).

Importantly, mineralisation appears to still be present in the workings, with several historical mineralised faces drilled for mining of uranium and vanadium ores identified (but never blasted and mined).

New Uranium Vanadium Sample Assays and Mineralisation Mapping Underway Detailed field mapping and sampling positions are still being collated by TIN’s in-country exploration team and will be reported in subsequent announcements when available.

Samples taken were from face channel sampling of exposed mineralisation from within the underground workings at both None Such and Bonanza which have now been dispatched for assaying (Figure 3 and 4). Sampling targeted both uranium and vanadium mineralisation trends as they are geologically related. Samples were taken as channel/cut sampling across different horizons which may potentially be dilutive to grade but more representative to quantify practical thickness and grade of
mineralised target areas. Assays are expected in the coming weeks.

The exploration team also identified and recorded GPS locations of multiple historic drill holes and vent shafts at surface within the vicinity of the None Such and Bonanza workings, the first available records obtained of these.

Underground mapping, locating and orientating the historical surface drill holes, is expected to aid in identifying the possible direction of the mineralised trends below surface. The Company will consider whether to potentially use down-hole gamma probes on these holes, which may assist with the prioritisation of drill targets.

Subject to the review and interpretation of sample assay results when available, mapping and other data collected as part of this initial program, high priority drill targets will be identified and selected, along with generating the appropriate permit applications to be submitted.

The Company will keep the market informed as and when material information has been received and validated.

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