Stage: Under construction

Company Description: ADAMAS MINING was established in 2001 in Mongolia and has successfully undertaken exploration and the development of mineral deposits throughout the country. Over the last 20 years, the company has achieved notable successes with its team, conducting detailed exploration of minerals across over 200 projects, including coal, rare earths, gold, silver, polymetallics, and uranium.

Deposit Location: Northeastern Mongolia, in Dashbalbar Sub-Province, Dornod Province. It is located 770 km from Ulaanbaatar and 130 km north of Choibalsan.

License Area: Located within the Dashbalbar soum. The license area includes the Nemer and Mardai Gol deposits.

Deposit Type:

• Uranium deposit located within Jurassic volcanic and sedimentary rocks

Target Commodity:

• Uranium

Ore Resource:

• Total Measured and Indicated Uranium Ore (across Nemer, Mardai Gol, and Dornod deposits): 9,971.76 Mt.

Average Grade:

• The grades for the deposits are: Nemer (Cutoff Grade: 0.111%), Mardai Gol (Cutoff Grade: 0.052%), and Dornod (Grade: 0.08–0.1%).

Contained Metal:

• Total Measured and Indicated Uranium (Contained Metal): 9,971.76 Mt.

Work Completed: Work completed by Adamas includes 1,365 diamond drill holes, 15,988.5 meters of underground drilling, and 11,049 meters of underground tunneling.

Drill Results: The exploration included 1,365 diamond drill holes, with the Nemer mine portion covering 84 diamond drill holes for a length of 7,483 meters. An initial exploration borehole was deemed promising after cutting the terrigenous-sedimentary layer at a depth of 230 m.