NBSX: EL8 - ACQUISITION OF NAPPERBY URANIUM RESOURCE AND HIGH-GRADE EXPLORATION PROJECTS

===================== ACQUISITION OF NAPPERBY URANIUM RESOURCE AND HIGH-GRADE EXPLORATION PROJECTS

Elevate Uranium Limited Registration Number: ABN: 71 001 666 600 Registered as an external company in Namibia ISIN Code: AU0000156416 NSX Share Code: EL8

ACQUISITION OF NAPPERBY URANIUM RESOURCE AND HIGH-GRADE EXPLORATION PROJECTS

This announcement was released 23 December 2025

Strategic acquisition grows global Uranium Resource to 169 Mlb U3O8 and consolidates

Central Australian portfolio.

KEY HIGHLIGHTS

• Strategic acquisition of complementary Australian uranium projects from Core Lithium Ltd

(ASX: CXO) increases the Company’s global Mineral Resources to 169 Mlb U3O8.

• Assets are located in the Northern Territory (NT) and South Australia (SA), two

highly supportive, established uranium mining jurisdictions.

• Napperby uranium project (NT) contains a JORC 2012 compliant Mineral Resource of

8.03 Mlb at 382 ppm U3O8 (200 ppm U3O8 cut-off grade).

o Located only 25 km from Elevate Uranium’s Minerva uranium project. o The resource is situated within a broad envelope of anomalism defined by wide spaced,

historical drilling offering opportunity for possible resource extensions.

o Ore samples from Napperby have previously been tested by Elevate Uranium,

confirming application of U-pgradeTM to add value.

• Fitton Uranium project (SA) is an early-stage project featuring excellent drill

results including:

o 21 m @ 384 ppm U3O8 from 40 m, including 6 m @ 978 ppm U3O8 from 54 m o 19 m @ 487ppm U3O8 from 79 m, including 6 m @ 1,112 ppm U3O8 from 89 m

Another four tenements in the NT and SA are included in the acquisition; these tenements

are also prospective for uranium mineralisation The full announcement can be viewed at the following link: https://www.elevateuranium.com.au/wp-content/uploads/2026/01/3005333.pdf

On behalf of Board of Directors

Murray Hill CEO & Managing Director

27 October 2026

Registered Office Post Strasse Hof Commercial unit 3 Second Floor 35 Daniel Tjongarero Avenue Swakopmund Namibia

Sponsor IJG Securities (Pty) Ltd Member of the NSX 4th Floor, 1@Steps, C/O Grove and Chasie Street Kleine Kuppe, Windhoek P O Box 186, Windhoek, Namibia Registration No. 95/505 Date: 27/10/2026 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

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