New Risk • Apr 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.1m (US$9.60m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 91% per year over the past 5 years. Shareholders have been substantially diluted in the past year (106% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.1m market cap, or US$9.60m). Announcement • Mar 19
Nuclear Vision Limited Provides Operational Update on Ua92 Uranium Project Nuclear Vision Limited provided an operational update on exploration activities at its 100%-owned UA92 Uranium Project in Botswana. Further to the Company’s previous announcement regarding the mobilization activities of Endeavour Scientific (Pty) Ltd. (the Contractor), field operations have commenced and are currently ongoing. The Contractor’s technical teams are currently mobilized on-site across the Company’s prospecting licenses and have begun conducting high-resolution drone-borne radiometric surveying. Active surveying and systematic area coverage are underway as part of the planned geophysical campaign. The survey program is designed to include: High-resolution drone-borne radiometric surveying to map surface and near-surface radiometric anomalies; Systematic coverage across multiple prospecting licences to refine priority uranium targets; Integrated data processing, modelling, and interpretation, culminating in a comprehensive technical dataset. The initial survey results for one of the prospecting licenses are expected to be received in April 2026, followed by data from the remaining prospecting licenses, upon completion of initial data processing and quality control procedures. This milestone marks the commencement of the Company’s active field exploration program. The data collected will be used to assist in identifying areas that may warrant further exploration within the project area. The Company is also pleased to announce the commencement of work on the Environmental Impact Assessment (EIA) required to support the next phase of exploration activities, including planned drilling programs. Nuclear Vision has engaged Loci Environmental (Pty) Ltd. to manage and prepare the required environmental baseline studies, stakeholder consultations, impact assessments, and regulatory documentation in accordance with Botswana’s environmental regulations. Preparation of the EIA is now underway, with field studies and data collection programs being scheduled in coordination with local authorities and project stakeholders. The Company expects to complete the EIA process and obtain the necessary regulatory approvals by September 2026, enabling the timely advancement of its drilling activities. New Risk • Mar 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 20% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 91% per year over the past 5 years. Shareholders have been substantially diluted in the past year (106% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$25.4m market cap, or US$18.5m). 
