ReeXploration Reports Uranium Findings at Eureka Project

ReeXploration Inc. has announced encouraging results from downhole gamma surveys at its Eureka Project in central Namibia, supporting the potential for a significant uranium system. The surveys, which build on the 11-hole, 1,729-metre reconnaissance drilling program ("Phase 1") reported on April 9, 2026, confirm repeated and widespread equivalent uranium oxide (eU₃O₈) responses within leucogranite intrusions and their contacts, bolstering the company's geological model.

The downhole gamma surveys, conducted by Terratec Geophysical Services Namibia, measured gamma radioactivity along the accessible portions of the drillholes. The surveys provide a depth profile of equivalent uranium oxide concentrations (eU₃O₈) from a calibrated probe, helping identify intervals of interest and their relationship to the logged geology. Composites at the 50 ppm lower cut-off occur in the logged portions of all eleven holes, with readings above 100 ppm in seven of them.

Notable results from Phase 1 drilling include: - SU26-08 returned 16.7 metres averaging 79.2 ppm eU₃O₈, including 1.2 metres at 218.2 ppm and 1.0 metre at 182.6 ppm, across leucogranite and mica schist. - SU26-04 returned 4.9 metres averaging 139.7 ppm eU₃O₈, including 4.3 metres at 146.3 ppm, across leucogranite and biotite schist. A separate deeper composite returned 15.2 metres at 66.1 ppm. - SU26-01 returned 1.5 metres averaging 187.3 ppm eU₃O₈, including 1.0 metre at 242.7 ppm, across a leucogranite, calc-silicate schist contact. The peak reading was 369.2 ppm eU₃O₈.

These results, combined with the 6.5 by 3.5 kilometre regional radiometric uranium anomaly, support a leucogranite-hosted uranium system and warrant targeted follow-up exploration.

The Eureka Project, which combines uranium and rare earth exploration opportunities, presents two distinct uranium exploration targets. The first is uranium associated with leucogranite bedrock and its contacts, and the second is shallow secondary uranium in calcrete and related weathered material. Historical work has documented secondary uranium in calcrete, gypcrete, and weathered bedrock, supporting the potential for a separate shallow uranium target.

The downhole gamma surveys, reported on October 6, 2026, add supporting evidence to the sequence of work that began with government airborne data identifying a high-uranium, low-thorium anomaly extending approximately 6.5 by 3.5 kilometres southwest of the Eureka Dome. The target lies along Namibia's Alaskite Alley structural corridor, where leucogranite intrusions are associated with major uranium deposits.