Cauldron Energy Ltd Uranium Discovery at Yanrey Delivers Third Success

Cauldron Energy Achieves Third "Hole-in-One" Discovery at Yanrey with New Cosgrove Prospect

Cauldron Energy Limited (ASX: CXU) has delivered another exploration triumph at its Yanrey Uranium Project, announcing the company's second new uranium discovery for 2025. The latest find at the Cosgrove prospect marks an extraordinary achievement—the company's third consecutive "hole-in-one" discovery, meaning uranium mineralisation was intersected with the very first drill hole at each new prospect.

Key highlights from the announcement include:

• New Cosgrove Discovery: High-grade uranium intersections including 0.67m @ 518.1 ppm eU3O8 from 73.04m
• Manyingee South Extension: Continued expansion with results up to 1.33m @ 382.2 ppm eU3O8
• Third Hole-in-One: Perfect exploration track record maintained across Manyingee South, Manyingee North, and now Cosgrove
• Resource Updates Planned: Updated Mineral Resource Estimates for both Manyingee South and maiden MRE for Manyingee North scheduled for Q1 2026

The Cosgrove prospect sits strategically between the Bennet Well and Manyingee South deposits, highlighting the prolific nature of uranium mineralisation across the 22-kilometre mineralised corridor at Yanrey.

Cosgrove Discovery: A Strategic Location with Immediate Results

The newly discovered Cosgrove prospect occupies a prime position in Cauldron's expanding uranium province, located approximately halfway between the established Bennet Well and Manyingee South deposits. This strategic placement reinforces the company's geological model of continuous mineralisation along ancient Cretaceous coastlines.

Furthermore, the prospect was identified through airborne electromagnetic (EM) imagery as a north-trending channel system. Initial wildcat drilling at hole 25YRAC069 immediately intersected mineralisation, confirming Cauldron's exploration methodology and geological understanding.

Cosgrove Discovery Highlights:

Mineralisation at Cosgrove occurs at multiple geological levels, within carbonaceous clays and sands of the Nanutarra Formation and oxidised sands of the overlying Birdrong Sandstone—identical to the geological setting at the successful Manyingee deposits.

"The quality of the work done by the Cauldron technical team is evident with this amazing track record of discoveries, which now amounts to three new discoveries in just two drilling campaigns. The location of Cosgrove – placed about halfway between Bennet Well and Manyingee South, perfectly demonstrates the prolific nature of the mineralisation at Yanrey," commented CEO Jonathan Fisher.

Understanding Roll-Front Uranium Deposits: Why Yanrey is Exceptional

Roll-front uranium deposits form when uranium-bearing groundwater encounters reducing chemical environments, typically at the boundary between oxidised and reduced sediments. These deposits create distinctive "redox fronts" that can extend for kilometres, making them highly attractive for in-situ recovery (ISR) mining.

Key characteristics that make roll-fronts valuable:

• Large-scale continuity: Individual redox fronts at Yanrey typically span 1-2 kilometres in width and several kilometres in length
• Shallow depth: Mineralisation occurs within 100 metres of surface, ideal for low-cost extraction
• Suitable geology: Hosted in unconsolidated sands perfect for ISR processing
• Multiple levels: Stacked mineralised zones increase total resource potential

At Yanrey, these roll-fronts are developed within ancient channels that incised the Proterozoic basement during the Early Cretaceous period. However, the 22-kilometre mineralised corridor now demonstrated by the Cauldron Energy Ltd uranium discovery at Yanrey represents one of the most significant uranium trends in Western Australia.

Key Terminology Explained

• eU3O8: Equivalent uranium oxide, the standard measure for uranium content
• Redox front: Chemical boundary where uranium precipitates from solution
• Ancient channel: Old river channel preserved in the geological record
• Grade-thickness (GT): Product of grade and thickness, indicating metal endowment

Manyingee South Continues to Deliver Growth

The latest drilling phase at Manyingee South has successfully extended mineralisation across 2,000 metres in width and a further 1,400 metres upstream. This expansion demonstrates the robust nature of the deposit and its potential for significant resource growth.

In addition to the impressive scale, the deposit now extends over 4,400 metres along the full length of the main channel. Moreover, mineralisation remains open to the southeast, southwest, and west. Recent geological interpretation has identified a separate "Western Arm" channel system that presents exciting opportunities for additional resource expansion.

Recent Manyingee South Results:

Exploration Manager John Higgins noted: "Cauldron's third uranium discovery in eighteen months upholds our exploration methodology and our understanding of the potential of the Yanrey Uranium Province. Mineralisation within the Yanrey region now occurs at five locations extending over a 22km length of the Early Cretaceous coastline. Cauldron holds over 80km of this coastline."

What Does the 2026 Catalyst Pipeline Hold?

Cauldron has outlined a clear pathway for value creation through 2026, with multiple catalysts positioned to drive continued growth following the successful Cauldron Energy Ltd uranium discovery at Yanrey. Furthermore, the company's exploration success rate provides high confidence in upcoming programs.

Immediate Catalysts (Q1 2026):

• Updated Mineral Resource Estimate for Manyingee South incorporating 2025 drilling results
• Maiden MRE for Manyingee North prospect
• Heritage and environmental approvals for expanded 2026 drilling campaign

2026 Exploration Program:

• Follow-up drilling at Cosgrove to define resource potential
• Systematic testing of over a dozen high-priority prospects
• Western Arm exploration at Manyingee South
• Resource expansion drilling across all established deposits

Current Resource Inventory:

• Bennet Well: 30.9 Mlbs uranium oxide (38.9Mt @ 360ppm eU3O8)
• Manyingee South: 11.1 Mlbs uranium oxide (15.5Mt @ 325ppm eU3O8)
• Total Resources: >40 Mlbs uranium oxide across the project
• Exploration Upside: Over 80 kilometres of prospective coastline with 20+ identified channels

Investment Thesis: Building a Uranium Powerhouse

Cauldron Energy's systematic exploration success at Yanrey positions the company as a compelling uranium investment story. Nevertheless, the combination of proven geology, expanding resources, and substantial exploration upside creates multiple pathways for value creation.

The 22-kilometre proven mineralised corridor represents just a quarter of Cauldron's total landholding along the prospective Yanrey coastline. Consequently, with over 20 channels identified across the tenement package, the potential for discovering additional uranium deposits remains exceptional.

Key Investment Strengths:

Strategic Value Drivers:

• Resource growth through systematic exploration of proven geology
• Discovery potential across extensive, underexplored tenement package
• Technical excellence demonstrated through consistent exploration success
• Market positioning in tier-one uranium jurisdiction (Western Australia)

Why Should Investors Follow Cauldron Energy?

Cauldron Energy has established itself as a premier uranium explorer through exceptional execution and a systematic approach to resource discovery. For instance, the company's perfect track record of "hole-in-one" discoveries at Yanrey demonstrates both the quality of the geological team and the extraordinary prospectivity of the uranium province.

Compelling Reasons to Track CXU:

1. Proven Exploration Model: Three consecutive discoveries validate the geological understanding and exploration methodology

2. Substantial Resource Base: Current inventory exceeds 40 Mlbs with clear pathways for expansion

3. Exceptional Jurisdiction: Western Australia provides stable, mining-friendly regulatory environment

4. Technical Leadership: Management team delivering consistent results across multiple discovery campaigns

5. Scale Opportunity: 80-kilometre tenement holding along proven uranium trend offers district-scale potential

What Catalysts Are Coming Up?

Upcoming Catalysts Timeline:

• Q1 2026: Updated and maiden Mineral Resource Estimates
• 2026: Major drilling campaign targeting multiple high-priority prospects
• Ongoing: Systematic exploration of 20+ identified channels

The company's systematic approach to exploration, combined with the exceptional prospectivity of the Yanrey Province, positions Cauldron Energy as a compelling investment opportunity in the uranium sector. Additionally, with multiple catalysts scheduled through 2026 and a clear pathway for resource growth, the latest Cauldron Energy Ltd uranium discovery at Yanrey represents a unique opportunity.

Furthermore, each successive discovery reinforces the company's position as a leading uranium explorer in one of Australia's most promising uranium provinces. Therefore, investors seeking exposure to high-quality uranium assets should closely monitor the continued development of this exceptional project.

Cauldron Energy has positioned itself as a major player in the Australian uranium sector, with a proven exploration model delivering consecutive discoveries along a world-class uranium trend. With substantial resources already defined and massive exploration upside across 80 kilometres of prospective coastline, the ongoing success of the Cauldron Energy Ltd uranium discovery at Yanrey strategy continues to build momentum towards creating a "world scale" uranium inventory.

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