Elevate Uranium Limited ('Elevate Uranium', or the 'Company') (ASX: EL8) (OTCQX: ELVUF) is pleased to provide an update on exploration activities at its Hirabeb Project in the Namib Area of Namibia.

Elevate Uranium's Managing Director, Murray Hill, commented: 'Exploration activities to date have delineated two large zones of significant uranium mineralisation, named Hirabeb I and Hirabeb II, both of which cover an extensive area. Drilling is currently wide spaced with drill lines 500 metres apart. The results are very encouraging and follow up drill programs are being planned for later this year to reduce the line spacing and confirm the extent of mineralised areas greater than 100 ppm eU3O8, particularly at Hirabeb II.'

Technical Information: Drilling focused on the central section of the Hirabeb palaeochannel has delineated two significant zones of uranium mineralisation, named Hirabeb I and Hirabeb II with limited drilling between the two zones. The mineralisation has been identified based on widely spaced drilling, mainly 200 metre spaced holes on drill lines 500 metres apart. Mineralisation at Hirabeb I extends over 4 kilometres along strike and is up to 800 metres wide, with uranium results exceeding 100 ppm eU3O8 varying in thickness from 3 to 7 m on section 537500mE. At Hirabeb II, anomalous uranium (>50 ppm eU3O8) is continuous over 9 kilometres of the palaeochannel and remains open in several directions.

Grades in excess of 100 ppm eU3O8 have so far been intersected in four areas within this anomalous zone and further exploration drilling is planned to establish continuity between these two zones of mineralisation. Drilling to date at the Hirabeb Project totals 686 holes for 8,316 metres at an average hole depth of 12.2 metres. Further exploration drilling to establish the continuity and extent of mineralisation is planned for later this year.

Contact:

Murray Hill

Tel: +61 8 6555 1816

Email: murray.hill@elevateuranium.com.au

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