Skeleton Coast Uranium files NI 43-101 reports on Namibia EPLs 8208, 9727, 8617

EPL 8208, 9727 and 8617 are strategically located in the Erongo Region, adjacent to or within 10 to 25 km of one of Namibia's three uranium mines - Rössing, Husab, Langer Heinrich, which produce approximately 10% of global uranium output.

Each project offers dual prospectivity for primary leucogranite-associated uranium mineralisation analogous to the Rössing and Husab deposits, and secondary calcrete-hosted palaeochannel uranium mineralisation analogous to the Langer Heinrich deposit.

Skeleton Coast Uranium is undertaking a two-phase, decision-gated exploration programme on each EPL, with total estimated expenditures of US$975,000 to US$1,575,000.

Phase 1 exploration is nearing completion with digitisation of historical datasets identifying preliminary, high-priority exploration targets for both primary leucogranite-associated uranium and secondary calcrete-hosted palaeochannel uranium mineralisation.

Vancouver, British Columbia--(Newsfile Corp. - August 4, 2026) - Skeleton Coast Uranium Corp. (TSXV: SKEL) (OTC Pink: GLIIF) (FSE: KDM0) (the " Company " or " Skeleton Coast Uranium ") is pleased to announce that it has filed on SEDAR+ three technical reports prepared in accordance with National Instrument 43 101 - Standards of Disclosure for Mineral Projects (" NI 43-101 ") for its Namibia Exclusive Prospecting Licence (" EPL ") 8208, EPL 9727, and EPL 8617, located in the Erongo Region of Namibia, the world's third largest uranium producer and a recognised tier-one supplier to global utilities.

"These technical reports provide an exploration baseline for rapidly advancing Skeleton Coast Uranium's projects. We understand that successful exploration and expansion of the uranium resource base is critical if the mining industry is to meet the needs of a growing nuclear reactor fleet. Skeleton Coast Uranium is committed to discovering Namibia's next major uranium deposit through systematic geological exploration, deployment of cutting-edge exploration technologies, and investment in Namibia's positive regulatory environment, as we seek to bring new uranium resources into the nuclear fuel cycle," commented Dr. Nathan Chutas, Chief Executive Officer of Skeleton Coast Uranium.

Figure 1. Location map of Skeleton Coast Uranium's EPL 8208, 9727, and 8617

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/890/307836_skeletonimg.png

EPL 8208 The NI 43-101 report for EPL 8208 is titled " NI 43-101 Technical Report on the EPL8208, Erongo Region, Namibia " (the " EPL 8208 NI 43-101 Report ") and has an effective date of April 22, 2026, and a report date of May 15, 2026. The EPL 8208 NI 43-101 Report provides an independent technical assessment of the geological setting, tenure status, exploration maturity and conceptual uranium prospectivity of EPL 8208.

EPL 8208 covers approximately 7,840.7 hectares and is contiguous to the Langer Heinrich Mine, one of the most significant calcrete-hosted uranium deposits globally with 84.8 million tonnes of ore reserves at an average grade of 448 ppm (2021, JORC; 2021, NI 43-101). The Langer Heinrich Mine is located in central western Namibia approximately 80km east of Swakopmund and 85km northeast of the Walvis Bay deepwater port. EPL 8208 shares approximately 15 km of border (north-northwest) with the Langer Heinrich Mine which is held in two mining licences ML140 and ML172.

Key findings include:

EPL 8208 is located within the Central Namib Uranium Province, a geologically important uranium province that hosts multiple major uranium deposits representing both primary intrusive-leucogranite associated mineralization as seen at Namibia's Husab and Rössing uranium mines, and secondary surficial uranium mineralisation styles present at Langer Heinrich. Historical exploration results referenced above have not been verified by a Qualified Person, are considered historical in nature, and should not be relied upon. Verification through further exploration will be required before any exploration target or mineral resource can be defined.

Both geological models, a structurally influenced basement-related uranium model and a palaeodrainage-related surficial uranium model, remain conceptual exploration frameworks for EPL 8208.

A two-phase, decision-gated exploration programme is recommended for EPL 8208, at an estimated cost of US$325,000 to US$525,000. Phase I is currently underway focusing on data consolidation, target definition and field validation to define and rank priority target corridors for both exploration models.

Phase 2 is designed to determine whether coherent radiometric, geochemical or geological anomalies are present within EPL 8208 and whether these anomalies are sufficiently supported by geological context to justify drill testing.

EPL 9727 The NI 43-101 report for EPL 9727 is titled " NI 43-101 Technical Report on the EPL 9727 Uranium Project, Erongo Region, Namibia " (the " EPL 9727 NI 43-101 Report ") and has an effective date of April 22, 2026, and a report date of May 15, 2026. The EPL 9727 NI 43-101 Report provides an independent technical assessment of the geological setting, tenure status, exploration maturity and conceptual uranium prospectivity of EPL 9727.

EPL 9727 covers approximately 12,081.1 hectares and is situated within the Namibia Alaskite Alley trend, a structural corridor within Namibia's Central Zone of the Damara Orogen belt where economic uranium deposits including the Rössing and Husab uranium mines, as well as advanced development stage uranium projects Etango, Omaholo and Norasa, are located. The uranium mineralisation of these major deposits are hosted by leucogranite (alaskites) that comprise massive stock-like bodies, dykes of varying thickness, and veins and veinlets. Uranium mineralisation in this region has been identified over areas ranging from over 200 metres in width to extend to several kilometres in length (Rössing). Historical exploration results referenced above have not been verified by a Qualified Person, are considered historical in nature, and should not be relied upon. Verification through further exploration will be required before any exploration target or mineral resource can be defined.

Key findings include:

EPL 9727 includes areas interpreted to be prospective for both primary leucogranite-associated uranium mineralisation and secondary calcrete-hosted palaeochannel uranium mineralisation.

The north-eastern sector is interpreted to include palaeochannel-related cover associated with the Gawib River system, while the south-western sector includes Damara basement lithologies and the Bloedkoppie leucogranite.

A two-phase, decision-gated exploration programme is recommended for EPL 9727, at an estimated cost of US$325,000 to US$525,000, to test and refine both the calcrete-hosted palaeochannel model in the north-eastern sector and the primary leucogranite-associated model in the south-western sector.

Phase 1 is currently underway focusing on completion of the ongoing data consolidation programme. Priority work includes systematic validation, georeferencing and GIS integration of available historical and regional datasets, including the Welwitschia Flats percussion drill database, historical reports from surrounding licence areas, regional geological mapping, structural lineament interpretation, remote sensing analysis and relevant findings from the Shidolo, 2024, prospectivity assessment, where applicable to EPL 9727.

Phase 2 is designed to determine whether coherent radiometric or geochemical anomalies are present within EPL 9727 and whether these anomalies are sufficiently supported by geological context to justify drill testing.

EPL 8617 The NI 43-101 report for EPL 8617 is titled " NI 43-101 Technical Report on the EPL 8617 Uranium Project, Erongo Region, Namibia " (the " EPL 8617 NI 43-101 Report ") and has an effective date of April 22, 2026 and a report date of May 15, 2026. The EPL 8617 NI 43-101 Report provides an independent technical assessment of the geological setting, tenure status, exploration maturity and conceptual uranium prospectivity of EPL 8617.

EPL 8617 covers approximately 10,491.5 hectares and is located in the Southern Central Zone of the northeast-trending branch of the Damaran Orogenic Belt, within Namibia's "Alaskite Alley", a highly productive uranium-bearing structural corridor that includes the Rössing mine and similar uranium-enriched alaskites at the Husab mine. The uppermost boundary of EPL 8617 is located approximately 1.5 km east of the Valencia deposit, part of the advanced development stage Norasa uranium project which is geologically situated on a fold structure 23 km northeast, along strike, from the uranium mine at Rössing. The bottom boundary of EPL 8617 is located and approximately 18 km from the Rössing and Husab uranium mines. Historical exploration results referenced above have not been verified by a Qualified Person, are considered historical in nature, and should not be relied upon. Verification through further exploration will be required before any exploration target or mineral resource can be defined.

Key findings include:

EPL 8617 includes areas interpreted to be prospective for both primary leucogranite-associated uranium mineralisation and secondary calcrete-hosted palaeochannel uranium mineralisation.

Historical exploration immediately south of EPL 8617 demonstrates that uranium bearing alaskite occurs in the adjacent area, while the site visit and current geological interpretation indicate that parts of EPL 8617 may also be permissive for surficial palaeochannel or calcrete related uranium accumulation.

A two-phase, decision-gated exploration programme is recommended for EPL 8617, at an estimated cost of US$325,000 to US$525,000. Phase I is currently underway focusing on integration of historical regional exploration data, refinement of geological and structural interpretations, review of available radiometric and magnetic datasets, interpretation of palaeodrainage development, and ranking of priority target areas.

Phase 2 is designed to determine whether coherent radiometric or geochemical anomalies are present within EPL 8617 and whether these anomalies are sufficiently supported by geological context to justify drill testing.

Tenure Status and Option Terms Pointe Noire Investments CC (" Pointe Noire Investments ") currently holds the EPL 9727, in respect of the Nuclear Fuel Group of Minerals, which is in good standing and currently valid until March 1, 2029. Pointe Noire Investments currently holds the EPL 8208, which is in good standing and currently valid until January 23, 2027. In Namibia, an EPL is valid for an initial term of up to 3 years, with two renewals of 2 years each, plus additional periods with relevant ministerial approval.

Skeleton Coast Uranium entered into a Property Option and Joint Venture Agreement with Pointe Noire Investments of Walvis Bay, Namibia, covering EPL 8208 and EPL 9727. Under the terms of the agreement, the Company may earn up to a 75% undivided interest in EPL 8208 and EPL 9727, by incurring exploration, environmental, technical and administrative expenditures of not less than CAD$3,000,000 in aggregate prior to June 30, 2028, and make a cash payment of CAD$250,000.

Pointe Noire Investments have secured the required Environmental Clearance Certificate (" ECC ") to enable exploration and drilling, from the Namibian Ministry of Environment, Forestry and Tourism , for each of EPL 9727 and EPL 8208. The issuance of each ECC is underpinned by the submitted and approved Environmental Impact Assessments (" EIA ") and Environmental Management Plans (" EMP "). The ECC for EPL 9727 is valid for a period of three years, ending on March 2, 2029. The ECC for EPL 8208 is valid for a period of three years, ending on January 1, 2027.

Profile Energy (Pty) Ltd (" Profile Energy ") currently holds the EPL 8617, in respect of the Nuclear Fuel Group of Minerals, which is in good standing and currently valid until July 2, 2028. Profile Energy has secured the required ECC for EPL 8617, to enable exploration and drilling, from the Namibian Ministry of Environment, Forestry and Tourism. The issuance of the ECC is underpinned by the submitted and approved EIA and EMP. The ECC for EPL 8617 is valid for a period of three years, ending on July 3, 2028.

Skeleton Coast Uranium entered into a Share Purchase Agreement to acquire a 100% interest in a Property Option and Joint Venture Agreement to acquire controlling interests in EPL 9872, EPL 9873 and EPL 8617. To exercise the option, the Company must incur exploration, environmental, technical and administrative expenditures of not less than CAD$2,000,000 in aggregate prior to June 15, 2028, including a minimum of CAD$500,000 prior to December 15, 2026.

The EPL 8208 NI 43-101 Report, EPL 9727 NI 43-101 Report and EPL 8617 NI 43-101 Report each were independently prepared by Christopher J. Male, BSc Geology, BSc Honours Geology, Pr.Sci.Nat., Senior Geologist at Practara PTY LTD (" Practara ") based in Midrand, South Africa, in accordance with NI 43-101 and is effective as of April 22, 2026.

The EPL 8208 NI 43-101 Report, EPL 9727 NI 43-101 Report and EPL 8617 NI 43-101 Report each are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.skeletoncoasturanium.com .

About Skeleton Coast Uranium Corp. Skeleton Coast Uranium Corp. holds options to acquire 70-75% controlling interests in five EPLs located in the Erongo Region of Namibia which produces approximately 10% of world uranium output. The EPLs cover 610 km 2 and position the Company as one of the largest licence holders in the region. All the concessions have known uranium mineralization (unverified historical information; see Technical Information) and are located either adjacent to or within 10 to 25 km of one of the three existing uranium mines (i.e. Langer Heinrich, Rössing or Husab). Skeleton Coast Uranium is committed to incurring CAD$5 million in exploration expenditures across the 5 EPLs by June 2028.

Skeleton Coast Uranium trades on the TSX Venture Exchange under the symbol ' SKEL ', on the OTC under the symbol ' GLIIF ', and on the Frankfurt Stock Exchange under the symbol ' KDM0 '. Additional information about Skeleton Coast Uranium can be found at www.skeletoncoasturanium.com .

Qualified Person Dr. Nathan Chutas, PhD, CPG, Chief Executive Officer of the Company, is a Qualified Person as defined by NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release.

On behalf of the Board of Directors Skeleton Coast Uranium Corp. Dr. Nathan Chutas, PhD, CPG Chief Executive Officer T: (236) 334-1660 E: info@skeletoncoasturanium.com W: www.skeletoncoasturanium.com

Technical Information The historical technical information referenced above is from the Namibian Geological Survey Report - The Mineral Resources of Namibia - Uranium dated 1988 by H Roesener and CP Schreuder and has not been independently verified by the Company. This information is provided for purposes of illustrating the prior work history on the property.

Mineralization on adjacent or nearby properties, including the Rössing, Husab and Langer Heinrich mines, is not necessarily indicative of mineralization on the Company's EPLs.

Forward-Looking Information This news release may contain certain "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Forward-looking statements or information in this news release may relate, but are not limited to, the timing and scope of NI 43-101 Technical Reports by Practara; the continued compilation, digitisation, modelling and interpretation of historical data; the identification, prioritisation and advancement of exploration targets on the Company's EPLs; the geological potential of the EPLs; and the Company's future exploration plans, expenditures and objectives in Namibia. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties, including, without limitation, the availability and accuracy of historical technical data; the Company's ability to continue planned exploration programs; and general geological, operational and market conditions. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's exploration activities, technical studies and future plans, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, including, without limitation, delays or changes in the scope or timing of the NI 43-101 Technical Reports; limitations on the verification or interpretation of historical data; exploration results that differ from expectations; and risks inherent in mineral exploration activities in Namibia. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307836

Newsfile Corp.

August 4, 2026 - 6:25 AM PDT

News by QuoteMedia

www.quotemedia.com