Goviex Uranium - GVXXF STOCK NEWS

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) has announced the granting of annual incentive stock options to select directors, officers, employees, and a consultant. The options allow for the purchase of up to 17,380,000 Class A common shares in GoviEx's capital stock. These options are exercisable at $0.05 per share, with a vesting schedule of 25% on the grant date and 25% on each subsequent anniversary until fully vested. The options have an expiration date of August 20, 2029. This grant is in accordance with GoviEx's Share Purchase Option Plan.

GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) has been informed by the Government of Niger that it no longer has rights over the mining permit for its Madaouela Project. This decision comes despite nearly two decades of development efforts that transformed Madaouela into one of the world's largest known uranium deposits. GoviEx is contesting this decision and seeking legal recourse to protect its investments.

In light of these developments, the company is shifting focus to its Muntanga Project in Zambia. Muntanga has all main permits and GoviEx plans to publish its feasibility study later this year. The project has Mineral Resources of 42.6 million tonnes at an average grade of 359 ppm U3O8, containing 33.7 million pounds of U3O8 (M&I), and additional Inferred resources.

GoviEx remains committed to navigating these challenges and capitalizing on the growing demand for clean energy and uranium.

GoviEx Uranium announced that the Government of Niger has revoked its rights to the Madaouela mining permit, placing the permit area in the public domain without following the prescribed withdrawal procedure. GoviEx plans to challenge this decision through national or international legal avenues. The company has invested heavily in the Madaouela Project, including a 650,000-meter drilling campaign and a feasibility study published in 2022. Despite recent uranium price recovery and substantial development efforts, including a $200 million financing interest, environmental assessments, and initial groundworks, the project now faces significant setbacks. GoviEx argues that the revocation will negatively impact Niger's economic and social development, noting that the Madaouela Project was expected to create 800 jobs and require an initial capital expenditure of $343 million. Meanwhile, GoviEx continues to advance its Muntanga project in Zambia, with a feasibility study expected in late 2024.

GoviEx Uranium has received a radiological certificate from the Nigerien Government for its Madaouela uranium project. This regulatory milestone confirms the completion of radiological baseline studies, enabling the start of mining operations.

The project will require an initial capital expenditure of $343 million and is expected to create up to 800 jobs over its 20-year lifespan. Additionally, it will contribute substantial royalties and taxes to the Nigerien Government, which has a 20% stake in the local company COMIMA SA set up for the project.

The information has been verified by GoviEx's Chief Geologist, Jerome Randabel, as per Canadian NI 43-101 standards.

GoviEx Uranium, a mineral resource company focusing on uranium exploration in Africa, has announced the voluntary filing of its Annual Information Form (AIF) for the year ended December 31, 2023. This follows the earlier submission of its audited consolidated financial statements and management's discussion and analysis for the same period. The documents are accessible on the company's website and SEDAR+ platform. The TSX Venture Exchange and its regulation services provider have not reviewed or accepted responsibility for the adequacy or accuracy of the release.

GoviEx Uranium Inc. recently welcomed Niger's Mines Minister to its Madaouela uranium project, showcasing commitment to transparency and engagement with government officials. The visit, part of broader inspections in the region, highlighted ongoing ground works, mine plans, and CSR initiatives. While the outcome of discussions for commencing exploitation remains uncertain, GoviEx aims for a mutually beneficial solution. The Madaouela Project signifies a substantial investment in Niger's economy, with an initial capital expenditure of USD 343 million and potential job creation for up to 800 individuals over 20 years.

GoviEx Uranium Inc. is engaged in discussions with the Government of Niger regarding the commencement of its mining operations at the Madaouela uranium project. The company must start mining by July 3, 2024, to avoid the risk of permit revocation. GoviEx is working towards a mutually beneficial solution with the Nigerien government while exploring investment options to expedite project development. The company has made significant progress in advancing the project, securing potential financing, and creating employment opportunities in Niger. GoviEx remains committed to the country and its stakeholders, aiming to ensure the successful development of the Madaouela Project.

GoviEx Uranium Inc. announces progress at its Madaouela Uranium Project in Niger, with the commencement of Front-End Engineering Designs and ground works. The project has an initial capital expenditure of USD 343 million and aims to create up to 800 jobs over its 20-year mine life. The company is monitoring the Niger-US military arrangements and exploring financing options. GoviEx's Madaouela Project holds 96.9 million pounds of U3O8 in measured and indicated mineral resources.

GoviEx Uranium Inc. is a leading player in the uranium exploration sector, with key projects in Niger and Zambia. The company is advancing towards construction at the Madaouela Project in Niger and completing the feasibility study at the Mutanga Project in Zambia. GoviEx's focus on sustainable development and strategic positioning in Africa aligns with the increasing global demand for nuclear energy, particularly from Far East Asia.