Elevate Uranium (ASX:EL8) | EL8 Lifts Marenica Uranium Project Ownership to 90%

MarketOpen Trading Titan | Elevate Uranium Limited (ASX:EL8) | Marenica Uranium Project Ownership Increased to 90% Episode Summary In this episode, we examine Elevate Uranium Limited's ASX announcement released on 13 July 2026, outlining agreements to increase its ownership of the Marenica Uranium Project in Namibia from 75% to 90%, with completion expected before the end of July 2026. Key facts covered in this episode • Elevate Uranium Limited has entered into two separate agreements to acquire an additional 15% interest in Marenica Minerals (Proprietary) Ltd. The acquisition comprises 5% from Millenium Minerals (Proprietary) Limited and 10% from Xanthos Mining (Proprietary) Limited. Xanthos will retain a 10% free carried interest following completion. • Total consideration comprises A$1.1 million in cash, A$2.2 million in Elevate Uranium Limited shares and the release of existing debt of A$3,425,275. The announcement does not disclose a capital raising associated with the transaction. • The Marenica JORC Resource totals 52.8 Mlb U₃O₈. Upon completion, Elevate Uranium Limited's attributable share will increase to 47.5 Mlb U₃O₈. • The Company's attributable Namibian uranium resources will increase to approximately 124 Mlb U₃O₈, while its attributable global uranium resources will increase to approximately 181 Mlb U₃O₈. • The Company states the acquisition simplifies Marenica's ownership structure, increases its economic and strategic interest in the project, and supports a district scale development case for the U-pgrade™ beneficiation process alongside the Koppies Project. • Bulk samples from the Marenica resource are being tested through the U-pgrade™ Pilot Plant program throughout 2026. According to the Company, the results are intended to define the processing parameters required for Marenica's advanced development studies and to advance the project through feasibility studies. What to watch next • Completion of the acquisition before the end of July 2026 • Continued U-pgrade™ Pilot Plant testing throughout 2026 • Results from the Pilot Plant program to define processing parameters for Marenica's advanced development studies and feasibility studies This episode is for information purposes only. Nothing in this podcast constitutes financial advice. Listeners should conduct their own research and consider their own financial circumstances before making any investment decision.