April 5, 2021


Start-Up Capital and Operating Costs Reduced

Vancouver, British Columbia–(Newsfile Corp. – April 5, 2021) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) (“GoviEx or the Company”) is pleased to announce that a technical report titled, “An Updated Pre-Feasibility Study for the Madaouela Project, Niger” dated effective April 5, 2021 (the “Report“), which supports the disclosure in the Company’s news release dated February 18, 2021, has been filed today under the Company’s profile on SEDAR.

Key Highlights of the Report, as previously described in the February 18, 2021, news release:

  • Open pit mining in the early years with CapEx reduced by 15% and OpEx down by 20%
  • Captive water source, consumption reduced by 66%
  • Grid level electrical power existing within Madaouela Project boundary
  • Prioritize local skilled labour and local venders
  • Straightforward industry standard process design – reducing construction and operational risks
  • Mining Permit and Environmental Certificate already secured
  • Potential to service debt of USD 150-180 million
  • Ability to fast track feasibility study in 2021 to target rapid development
  • Next steps to accelerate project financing and offtake options

The Report was prepared by SRK Consulting (UK) Limited (“SRK“) in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects, and is available on the Company’s website ( and under the Company’s profile on SEDAR (

Qualified Persons

The qualified persons from SRK for the Report are:

  • Eur.Geol. Robert John Bowell, PhD C.Chem. C.Geol – Corporate Consultant (Geochemistry & Processing)
  • Daniel Rene Guibal, Min Eng, FAusIMM (CP), MMICA, MGAA – Corporate Consultant (Geostatistics & Resources)
  • Timothy John McGurk B.Eng (Hons), C.Eng, MIMMM – Corporate Consultant (Mining Engineering)
  • Filip Orzechowski (MSc FIMMM CEng) – Principal Consultant (Mining)
  • Jurgen Fuykschot (MSc MBA, MAusIMM) – Principal Consultant (Mining Engineering)

The scientific and technical information in this release has been reviewed and approved by Dr. Rob Bowell, a chartered chemist of the Royal Society of Chemistry, a chartered geologist of the Geological Society of London, and a Fellow of the Institute of Mining, Metallurgy and Materials, who is an independent Qualified Person under the terms of NI 43-101 for uranium deposits. Mr. Bowell has verified the data disclosed in this news release.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.


Please read the complete news release at the following link: LINK