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Basin Energy Reports Frist Pass Results

Örebro County, Sweden: Basin Energy received assay results from reconnaissance mapping at its Prästun and Håkantorp projects in Sweden. At Håkantorp, where numerous iron occurrences have been mined historically, sampling efforts of tailings and boulder material near the historic mine sites returned elevated REE and U3O8 values, up to 0.39%. While the controls on the uranium mineralization are still poorly understood they appear to be bound to a generally WNW trending skarn layer.

At the Prästun project, where previous work indicated niobium, uranium, and tantalum mineralization hosted in a nepheline-syenite, initial fieldwork successfully confirmed these historic results with one sample returning up to 3480ppm Nb, 1153ppm U3O8 and 185ppm Ta.

Håkantorp chip sampling results (Source: www.basinenergy.com.au)