Mineral properties consist of original acquisition costs and purchased mineral rights related to the Elk Creek Project, as discussed in Note 5. The Company currently owns approximately 550 acres of land and associated mineral rights, an additional 80 acres of mineral rights, and an additional 80 acres of surface rights. The mineral rights include a 2% NSR royalty.

In addition to the land and mineral rights currently owned by the Company, the property interests of Elk Creek include six mineral exploration option-to-purchase agreements which include a pre-determined buyout for permanent ownership of the mineral and/or surface rights. Terms of the agreements require no further significant payments, and the Company may terminate the leases, negotiate lease extensions, or elect to purchase the mineral and/or surface rights any time. Agreements that allow for the purchase of mineral rights contain provisions whereby the landowners would retain a 2% NSR royalty.

During the year ended June 30, 2025, the Company completed negotiations with landowners in Nebraska and entered into contract amendments which extended the option periods by approximately five years for option to purchase agreements (“OTP”) covering six parcels of land for project construction and operation which the Company does not already own. The Company recorded an exploration expense in the year ended June 30, 2025, for $310 for OTP extension payments made.