Toro Energy : to Assess 90.9Mlbs U3O8 Portfolio for Opportunities

ASX ANNOUNCEMENT only TORO TO ASSESS VALUE OPPORTUNITIES FOR ITS 90.9 Mlbs U3O8 PORTFOLIO HIGHLIGHTS use • Review underway to identify value opportunities across Toro’s Australian uranium portfolio which currently includes 90.9 Mlbs of contained U3O8(at a 200ppm U3O8 cut-off – see below for references) • Toro holds significant uranium resources inside the Wiluna Uranium Project with 62.7 million pounds (Mlbs) contained U3O8(at a 200ppm U3O8 cut-off – JORC 2012, refer to ASX announcement 1 February 2016 and Appendix 1) in three deposits, Lake Maitland, personal Lake Way and Centipede-Millipede o Nowthanna • 96%of the Resources are Measured and Indicatedin the Wiluna Uranium Project (JORC 2012 – refer to table in Appendix 1) • The U3O8 mineralisation envelope of these three deposits also contains a Vanadium Resource of 96.3Mt grading 322ppm V2O5 for 68.3Mlbs of contained V2O5at a 200ppm V2O5 cut-off (refer to ASX announcement of 21 October 2019) […]

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