Announcement • 5h
URU Metals Limited Provides Update on Ground Geophysics Programme At Zeb Nickel Project URU Metals Limited provided a further update from the recently completed ground geophysics programme at the Zeb Nickel Project in Limpopo, South Africa. Following the confirmation of Target 1 as the Company's priority follow-up target, the final interpretation of the ground survey data over Target 2 has refined additional targets within the broader Zeb Nickel feeder system. Target 2 was selected as one of the priority airborne electromagnetic targets for ground follow-up. The objective of the ground programme was to determine whether the airborne targets could be confirmed from surface, to improve target definition, and to assist the Company in ranking targets ahead of the next phase of drilling. The Target 2 results show a more complex picture than Target 1 with the ground surveys also confirming underlying magnetic bodies associated with both the northern and southern Target 2 areas. The Company considers Target 2 to remain of geological interest, but as a secondary follow-up area behind Target 1. The results will now be incorporated into the Company's 3D geological model and ranked against the wider target pipeline at Zeb Nickel. Target 2 was originally identified from the airborne Spectrem electromagnetic survey flown in 2025. The ground survey work has now provided a clearer understanding of the target area. The airborne magnetic data indicates that there are still distinct magnetic bodies below surface in both the northern and southern Target 2 areas. These features may represent ultramafic rocks or related geological bodies within the broader feeder system. The Company will therefore treat Target 2 as a follow-up area rather than a primary target. Further work may include refined modelling, ground checking and possible scout drilling, depending on how Target 2 ranks against Target 1 and other targets across the Project. The Company will now integrate the Target 1 results into the Zeb Nickel 3D geological model and use the updated model to rank drill targets across the Project. The next phase of drilling will remain flexible and will be designed to test the best-ranked targets across the Project. This may include both Platreef-style nickel-copper-PGE targets and higher-grade massive sulphide targets associated with the interpreted feeder system. Final drill-hole locations, depths and sequencing will be determined after the new ground geophysical data has been integrated into the Company's 3D geological model. This approach is consistent with the Company's stated work programme, which includes updating the Leapfrog 3D model, defining the number and position of drill holes, planning Ni-Cu-PGE resource drilling in Zone 2, testing high-grade nickel targets in Zone 3 and drilling overlapping conductor and density anomalies. Final drill-hole locations, depths and sequencing will be determined after completion of target ranking, land access planning and contractor engagement. The Company is in the process of sourcing and finalising drill contractors and looks forward to updating the market in due course once the contractor has been finalised. Maps showing the ground-based frequency-domain electromagnetic results for the two target areas overlaid on the interpreted geological map. The results align well with the results from the airborne data and provide higher resolution compared to the airborne Spectrem electromagnetic survey. Announcement • May 22
URU Metals Limited Completes Ground-Based Electromagnetic Survey at Zeb Nickel Project URU Metals Limited announced that the fieldwork component of the ground-based frequency-domain electromagnetic survey at the Zeb Nickel Project has now been completed. The survey forms part of the Company's ongoing geophysical programme designed to refine and prioritise drill targets associated with the interpreted magmatic conduit system and potential semi-massive to massive nickel sulphide mineralisation. The Company is now awaiting the final processing, interpretation, and integration of the ground-based gravity and frequency-domain electromagnetic data with the previously completed airborne gravity, magnetic, and Spectrem electromagnetic datasets. The combined interpretation is expected to further refine conductive and dense anomaly targets, improve understanding of the geometry and continuity of prospective mineralised zones, and identify and prioritise the most prospective locations for the upcoming drilling programme. The final interpretation will include recommendations on the highest-priority drill targets based on the combined airborne and ground-based geophysical datasets. Announcement • Apr 29
Uru Metals Limited Announces Completion of Gravity Survey and Positive Correlation with Airborne Targets URU Metals Limited announced the completion of the ground-based gravity survey over priority targets at the Zeb Nickel Project, with results demonstrating strong correlation with previously identified airborne electromagnetic and magnetic anomalies. The gravity survey was completed over Targets 1 and 2, previously identified as the highest-priority anomalies from the Spectrem airborne electromagnetic survey. The programme was conducted on a 50 m x 50 m grid using high-precision CG5 gravimeters, with data quality reported as 'very good' following full Bouguer correction and processing. The objective of the ground-based gravity survey was to enhance the resolution of the airborne datasets and improve the definition of potential drill targets associated with semi-massive nickel sulphide mineralisation. The results of the gravity survey are highly encouraging and provide improved confidence in the geological interpretation: Target 1: The Spectrem electromagnetic anomaly correlates closely with a residual gravity high, confirming that the target is both conductive and relatively dense. The gravity anomaly extends beyond the electromagnetic footprint, suggesting the presence of dense ultramafic rocks and/or sulphide accumulation zones. This strong coincidence of conductivity and density is considered highly prospective for nickel sulphide mineralisation. Target 2: A weak but distinct gravity high (~0.1 mGal) coincides with the southern portion of the northern EM anomaly. This gravity feature also aligns well with a first vertical derivative (1VD) magnetic anomaly, reinforcing the validity of the target. While the response may represent a dense ultramafic unit such as a harzburgite pulse, the combined conductive, dense, and magnetic signature is also consistent with potential sulphide mineralisation. Maps showing the ground-based gravity results for the two target areas overlain on a mapped and interpreted geological map. The results align well with the results from the airborne data and provide higher resolution compared to the airborne gravity survey. The ground-based gravity results align closely with the airborne datasets but provide a significantly higher level of resolution, allowing for better definition of anomaly geometry and depth. These results: Confirm the presence of coincident conductive and dense targets; Improve confidence in the interpreted magmatic conduit system; Provide a stronger technical basis for drill targeting. The frequency-domain electromagnetic survey is expected to commence shortly, which will further refine the conductive responses and support final drill target prioritisation. The Zeb Nickel Project is strategically located on the Northern Limb of the Bushveld Complex, adjacent to the Ivanplats Platreef Project, which is expected to become one of the largest underground platinum group metal operations globally once fully operational. Maps showing the Zeb Nickel Project area and the geophysical targets adjacent to the Ivanplats Platreef Mine, which is expected to become one of the largest underground platinum mines globally once in full production. 
