Orpheus Uranium : Gold Coast Investment Showcase Presentation

ASX: ORP

Discovering Tomorrow's Clean Energy

GOLD COAST INVESTMENT SHOWCASE

JUNE 2024

orpheusuranium.com

Disclaimer

This disclaimer applies to this presentation and the information contained in it (the Presentation). By reading this disclaimer you agree to be bound by it. The Presentation has been prepared by Orpheus Uranium Limited and relates to its subsidiaries and related parties (the Company). The Presentation was prepared on 7 May 2024 and the information in it is subject to change without notice.

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The Presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of any security in the Company nor does it constitute financial product advice. The Presentation is not a prospectus, product disclosure statement or other offer document under Australian law or under any other law. The Presentation has not been filed, registered or approved by regulatory authorities in any jurisdiction.

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Forward-looking statements

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Past performance

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Financial data

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Market and industry data

This Presentation contains third party data relating to the industries, segments and markets in which the Company operates or aims to operate (Industry Data). This information has been prepared using publicly available data. The Industry Data includes third party market data, estimates and projections. There is no assurance regarding the accuracy of the Industry Date, and the Industry Data has not been independently verified by the Company.

Competent Person Statement

Sections of information contained in this presentation that relate to Exploration Results were compiled or reviewed by Miss Bethany Lawrence BScAppGeol(Hons),MAIG,GIA(Aff),CG(Aff) who is a Member of the Australian Institute of Geoscientists and is a full-time employee of Orpheus Uranium Limited. Miss Lawrence holds shares in Orpheus Uranium Limited. Miss Lawrence has sufficient experience which is relevant to the style of mineral deposits under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Mineral Resources and Ore Reserves". Miss Lawrence consents to the inclusion in this presentation of the matters based on this information in the form and context in which it appears.

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Major Investment Highlights

DRILL READY & HIGH IMPACT PROGRAM

Targeting tier-1(world-class) uranium exploration regions, on tenure with confirmed presence of mineral systems

Developing technically intelligent team, with unique proven success in Uranium mineralisation discovery, development and production

Uranium exploration in the two jurisdictions of

Australia that allow uranium exploration and mining,

South Australia and the Northern Territory

Drill targeting 100% owned, advanced uranium exploration projects with a healthy $5 Million cash balance and poised for market growth

Major projects include Frome, Mundaerno, Radium

Hill South and Mt Douglas

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High Impact Drilling Program

INDICATIVE FIELD ACTIVITY SCHEDULE 2024-25

				2024				2025
	PROJECT		Q2	Q3	Q4		Q1		Q2
	Frome	Passive Seismic	Work Approvals	DRILLING
	Project	Heritage Clearance	Geological Interp,
	Radium Hill		Site Reconnaissance
		Heritage Clearance
	South		Geological Interp,	Work Approvals		DRILLING
	Project
	Mundaerno			Site Reconnaissance			Heritage Clearance
	& Woolshed			Geological Interp,			Work Approvals		DRILLING
	Projects
	Mount			Ground Gravity	Mapping, Sampling,
	Douglas			(NTGS Collaboration)	Costeaning		Drilling preparations
	Project
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Key South Australian Projects

Leveraging results of previous explorers who halted work in 2011-14

Frome Project

~12km west of Gould's Dam Uranium Deposit, located in a globally significant location in terms of discovered economic sandstone hosted uranium deposits

Frome Embayment (SA) - a good place for a uranium mine

Radium Hill South Project

~20 km south of Radium Hill Uranium Field and hosts five uranium occurrences

Mundaerno Project

~12km south of Honeymoon Uranium Mine and hosts part of the highly prospective Yarramba Palaeochannel

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Frome Project

BROWNFIELDS

PROJECT

MULTIPLE TARGETS IN MULTIPLE PALAEOCHANNEL SYSTEMS

Actively exploring - technical reviews, reconnaissance, and stakeholder engagement in preparation for targeted and dynamic drilling programs

Contains a significant footprint of prospective paleochannels:

Hosts known uranium occurrences - mineral system located

Mechanisms (source transport & trap) for Uranium mineralising systems similar to regional deposits in Namba 1 and Eyre 2 Formations

Erudina Exploration Target Area

Initial testing of multiple targets proximal to Goulds Dam (~12km)

2

1

2

	(25 Mlbs @ 523ppm U3O8)
2
	2
					1
						2
		2

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Erudina Prospect

BROWNFIELDS

PROJECT

DRILLING AT ERUDINA PROSPECT IMMINENT

Exploration Target Zone

Review of historic exploration defined the Erudina Exploration Target Zone:

Defined from downhole gamma grades, 56 historic drillholes contained >100ppm EqU

Peak grades are >1,500ppm EqU

Extends across a 12km N-S by 7km E-W area

Based on wide spaced ~1km drill traverses

Exploration Program 2024-25

Passive seismic, IP and	Stakeholder engagement
drillhole planning	and clearance surveys
(Q1 2024)	(Q2 2024)

CORPORATE PRESENTATION - JUNE 2024

Drill testing at Erudina Prospect and Sandyoota (Q3 2024)

Drill interpretation, clearance surveys, drill program planning (Q4 2024 - Q2 2025)

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Radium Hill South Project

BROWNFIELDS

PROJECT

FIVE EXISTING URANIUM PROSPECTS READY FOR IMMEDIATE FOLLOW-UP

Exploration Licence (EL) granted, mineralizing system identified, proceeding to advanced on ground activities (i.e., drilling)

Hosts five uranium prospects that were abandoned due to market conditions in 2011: uranium mineralisation at depths of ~80 to 110 metres

Located ~20km south of the highly radiogenic region of the historic

Radium Hill Uranium Field 2.6 Mlbs @ 1,310ppm U3O8

EL6960

Exploration Program 2024-25

Geological interpretation,	Stakeholder engagement
and prelim drillhole planning	and work approvals
(Q2 2024)	(Q3 - Q4 2024)

CORPORATE PRESENTATION - JUNE 2024

Drill testing of refined prospects

(Q4 2024 - Q1 2025)

Drill interpretation, clearance surveys, drill program planning (Q2 - Q3 2025)

Prospect	Historic Results
Gairloch	1.9m @ 400ppm U3O8 from 103.8m at the contact between the base of
	a sand channel and underlying black carbonaceous clay
Jones Dam	2m @ 401ppm U3O8 from 86m in a strongly anomalous zone over 5.1m,
	within steely grey sand
Kinloch Dam	3m @ 507ppm U3O8 from 105m in sand below a silcrete layer	8	8

Mundaerno & Woolshed Projects

GREENFIELDS

PROJECT

WOOLSHED EXPLORATION LICENCE APPLICATION GRANTED

Hosts a bend in the Yarramba Palaeochannel just 4km west of Jasons Uranium Deposit

The Yarramba Paleochannel hosts the:

Honeymoon Uranium Mine 36 Mlbs @ 660ppm U3O8

Jasons Uranium Deposit 10.7 Mlbs @ 790ppm U3O8

Saffron Uranium Deposit 5.4 Mlbs @ 557ppm U3O8

Limited historic exploration conducted in 1970's - importantly there is only one historic drillhole in the 'Area of Interest'

The single drillhole intersected Tertiary sands, carbonaceous matter and lignite fragments

Prized landholding in the Yarramba Palaeochannel: host to >50 Mlbs uranium resources

EL6989

EL6958

EL6989

Exploration Program 2024-25

Geological interpretation,	Stakeholder engagement
and prelim drillhole planning	and work approvals
(Q3 - Q4 2024)

Drill testing of refined prospects

Drill interpretation, clearance surveys, drill program planning

EL6958

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Northern Territory

Significant region of historical production where

Australia's large, high-grade deposits are discovered

Targeting "Unconformity" and vein style mineralisation

Very underexplored, particularly in difficult-to-access areas of the Orogen

Targeting the Pine Creek Orogen

"Australia's economic Unconformity-Style mineral systems"

Strategy of building ground position

Strategic play across the Orogen, preparing multiple drill targets for the medium term

Key Project: Mount Douglas

Preparing to drill after preliminary field activities in 2024

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