Central Mineral Belt

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Location:

Labrador, Canada (Central Mineral Belt)

Ownership:

100% Interest

Deposit Type:

Structurally-controlled within fracture systems and shear zones

Stage:

Exploration

Primary Minerals:

Uranium, Copper

OVERVIEW

~152,825 ha covering a significant portion of the prolific Central Mineral Belt in Labrador including the Moran Lake Project, the Anna Lake Deposit and the Mustang Lake Project.

307 additional claims (7,675 ha) in four map-staked licenses along the CMB to cover important sites of mineralization that became available during the Lands Coming Open Process in Labrador.

All estimates on this slide are “historical estimates” and are not considered current by the Company pursuant to NI 43-101. A Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves and LUR is not treating the historical estimates as current mineral resources or mineral reserves. See appendix for additional details.

EXPLORATION POTENTIAL

Several known uranium prospects, with substantial past exploration work completed. Over 140 targets have been identified for further exploration

PLANNED WORK

Develop a Machine Learning and AI program using available compiled data to generate targets
Final report from CMB Working Group will provide recommendations for future exploration work
Permit 2022 exploration field camp
Initial drill testing of top priority target