Alligator Energy Reports 67% Uranium Resource Growth at Samphire

Field Recovery Trial Validates Samphire Technical Assumptions

Alligator Energy (ASX:AGE) marked a major technical milestone in the June 2026 quarter with the completion of the first well pattern in its Samphire Field Recovery Trial (FRT). The trial delivered uranium recovery of approximately 70%, meeting the company’s target within the planned timeframe and exceeding the 55% recovery benchmark from previous updates. Key performance metrics such as average solution grades of 115 mg/L U3O8 and peak well flow rates up to 5 litres per second outperformed the assumptions underpinning Alligator’s December 2023 Scoping Study.

The ion exchange resin used in the trial demonstrated 98% uranium capture efficiency, while reagent consumption remained within highly favourable international benchmarks for acid in-situ recovery operations. Minor operational challenges like gypsum scaling were managed through standard process controls, with further mitigation strategies to be explored in the upcoming Feasibility Study scheduled for completion by mid-2027.

Resource Base Expands Sharply with Plumbush Addition

Alligator Energy announced a maiden Inferred Mineral Resource Estimate (MRE) of 12 million pounds U3O8 at the Plumbush deposit, located roughly five kilometres south of the Blackbush deposit within the Samphire Project. This addition lifts the combined Samphire resource by 67% to 30 million pounds U3O8, significantly enhancing the project’s scale and growth profile. The Plumbush resource, classified entirely as Inferred, comprises 14.9 million tonnes at an average grade of 370 ppm U3O8 and is considered amenable to in-situ recovery techniques.

Securing a binding call option over the Mullaquana Crown Lease, which hosts Plumbush and covers the southern extension of Blackbush, unlocks critical exploration and development access. The staged option arrangement includes immediate rights for exploration and technical assessment, with a $500,000 initial payment made in early July and a further $6.75 million payable upon exercising the option. This strategic move enables Alligator to embark on an intensive multi-rig drilling campaign of approximately 300 holes planned through the remainder of 2026, targeting resource upgrades and testing mineralisation continuity across the lease.

Exploration Momentum Resumes at Big Lake

After delays caused by persistent rain, drilling recommenced at the Big Lake Uranium Project in South Australia’s Lake Eyre Basin. The 2026 program focuses on expanding the Site 10 discovery made in 2024 and exploring a pipeline of high-priority targets across the granted tenements. Big Lake’s geological setting shares characteristics with established uranium ISR districts globally, including Kazakhstan, offering promising potential for a new sedimentary uranium province.

Portfolio Simplification and Corporate Changes

Alligator completed the $7.5 million divestment of its Northern Territory uranium assets to DevEx Resources Limited on 29 June 2026, following satisfaction of all conditions precedent. The transaction simplifies the company’s portfolio, allowing a sharper focus on its South Australian projects. Corporate updates include the retirement of long-serving Non-Executive Director Peter McIntyre, and the appointments of Blayney Morgan as interim Chief Financial Officer and Jake van der Hoek as Company Secretary.

Financially, Alligator ended the quarter with $12.9 million in cash and equivalents after investing $4.2 million in exploration and evaluation activities. The company recorded a net operating cash outflow of $1.7 million, consistent with its active development and exploration programs.