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Stonehenge Metals Limited (ASX Code: SHE) is developing a potentially world-class uranium project in South Korea. The Company’s flagship Daejon Project boasts an Inferred Resource of 34.9Mlbs¹ grading 340ppm eU₃O₈ (in accordance with JORC guidelines).

Daejon is one of four projects Stonehenge holds in South Korea and has significant exploration upside via a conceptual exploration target² of 72Mlbs to 108Mlbs grading 250 to 350ppm U₃O₈.

Daejon Project Highlights

• Inferred Resource of 34.9 Mlbs¹ eU₃O₈
• Highly experienced management in place to oversee uranium project development
• Extensive drilling database > 36,000m diamond drill core
• Scientific work indicates simple metallurgy
• Potential for Vanadium and Molybdenum by-products
• Korea currently uses an estimated 8Mlbs of U₃O₈ per annum and has no domestic production to support its rapidly expanding nuclear power industry

¹ The Company notes the tenure overlying approximately 2 million pounds of the current resource may be subject to an anticipated change in legislation which may in turn alter the Company’s rights with respect to this portion of the resource. The Company will keep the market updated in relation to this matter.

² The potential quantity and grade of this exploration target is conceptual in nature, there has been insufficient exploration to define a Mineral Resource on the property and it is uncertain if further exploration will result in discovery of further Mineral Resources on the property.

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