Atomic Eagle Muntanga Uranium Project: Building Partnerships, Creating Opportunities, Shaping Zambia’s Future

Across the rolling landscapes of Siavonga District in Zambia’s Southern Province lies a project with the potential to contribute meaningfully to the country’s economic growth while supporting the global transition to cleaner energy.

The Muntanga Uranium Project, being advanced by Atomic Eagle, is more than a mining venture.

It represents a long-term investment in people, communities, local businesses and sustainable development.

As Zambia continues to strengthen its position as one of Africa’s leading mining destinations, Muntanga offers an opportunity to diversify the nation’s mineral sector and play a greater role in supplying the minerals required for the world’s low-carbon energy future.

Why Uranium Matters

Around the world, countries are seeking reliable, low-carbon sources of electricity to meet rising energy demand while addressing climate change.

Nuclear power remains one of the few technologies capable of delivering large-scale, continuous electricity with very low greenhouse gas emissions during operation. Uranium is the essential fuel that powers these systems.

With global investment in nuclear energy increasing, responsibly developed uranium projects such as Muntanga have become strategically important.

Zambia’s high-quality mineral resources provide an opportunity to participate in this demand while generating tangible economic benefits at home.

Project Progress and Exploration Momentum

The Muntanga Uranium Project has advanced significantly through extensive geological investigations, drilling programmes and technical studies.

Detailed engineering, environmental and social work has been undertaken to ensure development proceeds responsibly and in line with Zambian law and international good practice.

Recent exploration results have further strengthened the project’s outlook. The 2026 drilling comprises approximately 30,000m of drilling across three priority target areas within the broader Project tenure.

This program is designed to continue building upon the Company’s recently upgraded Mineral Resource Estimate for the Project, which increased total Mineral Resources by 24% to 58.8Mlbs U₃O₈ at 309ppm.

The ongoing drilling at the Chisebuka deposit has continued to expand known mineralisation beyond the existing resource. The south-west higher-grade zone was extended to approximately 830 metres by 400 metres, while the northern higher-grade zone increased to about 900 metres by 600 metres.

Chisebuka currently hosts an inferred mineral resource of 19.9 million tonnes grading 220 ppm uranium oxide for an estimated 9.7 million pounds of contained uranium.

Drilling has focused on testing mineralisation outside the existing resource boundary, with results indicating the deposit remains open and prospective for further expansion.

 A 12-hole reverse circulation programme covering approximately 900 metres is underway, with diamond drilling and metallurgical test work planned.

Exploration has also advanced at the nearby Muntanga North prospect, where ground radiometric surveys refined multiple targets ahead of the area’s maiden drilling campaign.

 Atomic Eagle CEO Phil Hoskins said:

“Having already demonstrated the success of our initial exploration program that saw the resource increase by 24% to 58.8Mlbs U₃O₈, we are excited to implement in the 30,000-metre program  in 2026 where we will be testing several high-priority exploration targets.

Our strategy is to grow the resource to underpin a significantly larger mining operation than that contemplated in the previous feasibility study. With two rigs drilling, we believe there is great potential to expand upon the existing resource.”

Importantly, Atomic Eagle has received Environmental and Social Impact Assessment and Resettlement Action Plan approvals for the Muntanga project an important regulatory milestone on the path toward future development.

The company has also signed a binding option agreement to acquire 100 percent of the Sitwe Uranium Project in north-eastern Zambia, expanding its exploration footprint in the country.

Communities, Local Content and Partnership

For Atomic Eagle, responsible mining begins with listening and building relationships. Community engagement has been central to the Muntanga Project from the outset, through consultations with traditional leaders, local communities, government institutions and other stakeholders.

As the project advances, employment opportunities will be created for Zambians, supported by training where possible.

The operation will also require a wide range of goods and services from transport and catering to construction materials and security creating opportunities for local entrepreneurs.

Atomic Eagle is committed to working with qualified Zambian companies wherever practical, helping retain more economic value within the country and surrounding communities.

The project is founded on collaboration. Traditional leaders, local authorities, regulators, community representatives and neighbouring residents all have a role in shaping its future.

Open dialogue allows concerns to be addressed early and solutions to be developed collectively.

Beyond the mine, Atomic Eagle aims to support initiatives that improve quality of life such as education, healthcare, clean water, skills training and livelihood programmes working with local stakeholders to identify priorities that deliver lasting benefits.

Protecting What Matters Most

Mining and environmental protection must go hand in hand. Comprehensive environmental studies have been undertaken to understand existing conditions and identify measures to minimise potential impacts.

Programmes will focus on responsible water use, biodiversity conservation, waste management, radiation protection, dust control and progressive land rehabilitation.

Modern uranium mining operates under strict regulatory oversight and internationally recognised safety standards designed to protect employees, communities and the environment.

Supporting Zambia’s Economic Growth

Mining remains one of Zambia’s most important economic sectors. The Muntanga Uranium Project has the potential to strengthen this contribution by introducing another strategic mineral into the country’s portfolio.

As the project advances, it is expected to create employment, support local procurement, generate government revenues through taxes and royalties, and attract further investment while demonstrating Zambia’s growing role in supplying minerals essential to the world’s future energy needs.

It is about building lasting partnerships, supporting local enterprise, protecting the environment and contributing to Zambia’s long-term prosperity.

Phil Hoskins concludes by saying that The Muntanga Uranium Project is much more than a mining investment.

It is an opportunity to create lasting value for Zambia through responsible resource development, meaningful partnerships with local communities, and a commitment to sustainable growth.

We believe the project’s success will be measured not only by what we produce, but by the positive legacy we leave behind

Our commitment is to develop Muntanga safely, responsibly and transparently, while ensuring that Zambians benefit through employment, local business opportunities, skills development and community investment.

We look forward to working alongside government, traditional leaders and our host communities to build a project that delivers shared prosperity for generations to come.