The Ministry of Mines and Energy has extended the Engo Valley Uranium Project’s exploration licence (EPL-5887) until 12 February 2026, an official has revealed.
The licence covers roughly 683 square kilometres in the Skeleton Coast.
Snow Lake Chief Executive Officer Frank Wheatley said the extension allows the company to conduct a thorough exploration as well as a development programme to explore the project’s promising geological potential for uranium deposits that could be economically viable.
“We are pleased with the extension of EPL-5887 by the Namibian Minister of Mines and Energy, and believe this extension reflects the Ministry’s confidence in the progress made on the Project thus far and the proposed future work programme,” he said.
This comes as Snow Lake Energy, a Canadian clean energy development company, entered into a binding letter of intent with a private British Columbia company to acquire up to 85% of Namibia Minerals and Investment Holding, the sole owner of EPL-5887.
“With a global focus on clean energy, uranium being a critical mineral, Namibia being one of the best mining jurisdictions in Africa with a long history of uranium exploration, development and production, we feel that the Engo Valley Uranium Project compliments our current portfolio of lithium assets in Manitoba,” Wheatley said.
He further stated that drilling on the project will begin shortly to take advantage of the cyclical upturn in the uranium market.
“With the uranium market being in a major cyclical uptrend, the acquisition of the Engo Valley Uranium Project provides our shareholders with tremendous upside, particularly with drilling on the project to commence imminently,” he said.
EPL- 5887, encompasses various minerals, including base and rare metals, industrial minerals, non-nuclear fuel minerals, nuclear fuel minerals, precious metals, and precious stones. The renewal of this license underscores the potential of the region and paves the way for further exploration and development initiatives.
