The Republic of Niger
Uranium Country

+40 years of continuous
production >110,000 tonnes

World’s 6th largest uranium-producing
nation, accounting for 8% of total
production

Uranium sales account for majority of
Niger’s export revenue

2006 Mining Law encouraging foreign
direct investment

Transparent permitting processes

Existing mining infrastructure available
for the development of new mines,
lowering capital costs
Uranium exploration and development in the heart
of Niger’s uranium-producing district
uranium
AREVA’s Somair Mine, 15 kilometres from Madaouela
 Niger is a major uranium producer since the 1970’s, currently 8% global
supply
 Established NI 43-101 uranium resources, 122 million pounds and
growing
 Experienced, professional team, based on 100% local workforce with
internationally-based uranium and mining industry experts
 Madaouela Project economic viability confirmed by IDP
 Considerable exploration upside on 1,596 km2 of licenses within Niger’s
uranium producing district
Field reconnaissance
New GEFCO drills at GoviEx warehouse in Niger
New GoviEx permanent camp at Madaouela
Currently utilizing 100% Niger local labor
Govind Friedland
Executive Chairman
govind@goviex.com
Daniel Major
Chief Executive Officer
danielm@goviex.com
Pierre Massé
Chief Financial Officer
pierrem@goviex.com
Aminou Boukary
Country Manager, Niger
Aminou@goviex.com
+1.604.689.8765
This document includes certain “forward-looking statements”. All statements other than statements of historical facts, are forward looking statements that involve
various risks and uncertainties. Statements relating to “resources” are deemed to be forward-looking statements, as they involve the implied assessment, based on
certain estimates and assumptions, that the resources described can be profitably produced in the future. There can be no assurances that such statements will
prove accurate and actual results and future events could differ materially from those anticipated in such statements. Such information contained herein represents
management’s best judgment as of the date hereof based on information currently available. The company can not guarantee future results, levels of activity,
performance, or achievements. The company does not assume the obligation to update any forward-looking statement.
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GoviEx is a private uranium-focused exploration and
development company with 7 tenements covering
approximately
1,596
square
kilometres
of
exploration ground in Niger.
Building on exploration work performed in the
1960's by the French, Japanese and Nigerien
governments and utilizing the skills and experience
that developed Areva's mines nearby, GoviEx is
conducting one of the world’s largest ongoing
uranium exploration programs, focused on the
Madaouela and Anou Mellé tenements, located in
the world-class uranium-producing Arlit District.
To date GoviEx’s technical team has completed
one of the worlds largest exploration programs on
the Madaouela Projects’ seven deposits.
GoviEx has maintained strong environmental and
social standards. This includes support for local
communities and a strong commitment to
employee Nigerien staff in all roles and Nigerien
contractors where ever possible.
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Madaouela Project Resources
March 2013
Classification
NI 43-101 compliant
Tonnage
(Mt)
Grade
(kg/t eU3O8)
eU3O8
(t)
eU3O8
(Mlb)
Total Measured
9.62
1.08
10,397
22.92
Total Indicated
22.63
1.51
34,153
75.30
Total Inferred
7.47
1.46
10,931
24.10
Immediately adjacent to the Madaouela
Uranium Project are the Somair open pit
mine and Cominak underground mine,
both Areva subsidiaries, and have
operated uninterrupted since the 1970s.
Arlit mining district has well developed
infrastructure. Arlit and Akokan have over
100,000 people supporting local mining
operations
with
airport,
drilling,
transport companies, electricity, potable
water and a hospital. Arlit is connected to
the Southern part of Niger via the socalled “uranium-highway.”
A power line connects the mine towns to the Sonichar coalfired power station located North of Agadez.
GoviEx’ seven exploration licenses cover approximately
1596km2. Since 2008 GoviEx has completed over 550,000m of
exploration drilling, predominately on Mad 1, resulting in
definition of 122Mlb of total resources. Deposits for
underground mining include Marianne-Marilyn, MSNE and
Maryvonne. These 100m deep near flat sandstone hosted
tabular deposits span several kilometres in plan, and average
deposit thickness about 1m. Miriam open pit deposit, is
approximately 1km in strike and average deposit thickness of
20m.
GoviEx’s exploration program is focusing on high-priority
targets within the remaining 70% of the exploration licenses
held by GoviEx further south and on trend with existing
discoveries and other producing U mines in the Arlit district.
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Integrated Development Plan
confirms project viability
In March 2011 GoviEx presented a Preliminary Economic Assessment that indicated that the
Madaoeula Project could be developed economically. GoviEx completed an Integrated
Development Plan (IDP) in September 2013, and results to date from the study have underscored
the economic potential of the Project.
The IDP examined additional metallurgical testing, processing options, conceptual mine design,
including geotechnical and hydrological studies. Capital and operating costs estimates in the study
have been based predominantly on quotation to improve the integrity of the resulting economics.
The IDP considers the development of the Marianne-Marilyn, MSNE and Maryvonne deposits by
underground room and pillar mining, and the Miriam deposit as an open pit. Ore processing will
include radiometric ore sorting and ablation to upgrade plant feed grades prior to two stage tank
acid leaching and solvent extraction. Tailings material will be dry stacked to ensure international
environmental standards are achieved. Environmental impact studies are well advanced.
The proposed base case envisions an average 2.53Mlb per year U3O8 yellowcake production rate,
and an 83.0% ultimate recovery; generating a twenty one year mine life producing 45.6Mlb of
U3O8. Based on a long term uranium price of US$70/lb U3O8 the project generates an after-tax
NPV of US$251m at an 8% discount rate, with an IRR of 21.9%. Initial capital costs are estimated
at US$339m, and cash operating costs of US$26.39/lb U3O8, excluding royalty payments.
Proposed Process Plant Layout
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