Perth, Australia, Aug 19, 2026 - (ABN Newswire) - Eclipse Metals Ltd (ASX:EPM) (Eclipse or the Company) advises that Boss Energy Limited (ASX: BOE) (Boss) has provided notice of withdrawal from the Option and Earn-In Agreement relating to the Liverpool Uranium Project in the Northern Territory.
As a result, the agreement has terminated and the option has lapsed. Eclipse and its wholly owned subsidiary, North Minerals Pty Ltd, retain 100% legal and beneficial ownership of the Liverpool Project tenements.
Highlights
- Eclipse retains100% legal and beneficial ownership of the Liverpool Uranium Project following Boss Energy's withdrawal from the Option and Earn-In Agreement.
- Following consultation with Traditional Owners, consent has been received for a defined exploration work program at EL27584, providing a pathway to advance priority targets.
- Devil's Elbow contains 17 previously defined walk-up drill targets, including seven Priority 1 targets and two large uranium radiometric anomalies that remain untested.
- Historical exploration returned assays of up to 5.8% U3O8, 38.1 g/t Au and 28.02 g/t Pd, and drilling confirmed subsurface uranium mineralisation(1).
- Eclipse will integrate the exploration information to be delivered by Boss with its existing technical database before finalising the next exploration and strategic pathway.
Boss has confirmed that it has not lodged any caveats over the tenements. Under the withdrawal provisions, Boss is required to cease exploration activities, vacate the tenements and deliver to Eclipse all mining and exploration information in its possession, custody or control, including information generated during the option period.
Regaining full control provides Eclipse with flexibility to integrate the additional technical information, advance its priority targets and assess the most value-accretive pathway for the project.
ABOUT THE LIVERPOOL URANIUM PROJECT
The Liverpool Uranium Project is located in the highly prospective Alligator Rivers Uranium Field of West Arnhem Land, Northern Territory. The Devil's Elbow uranium-gold-palladium prospect lies within EL27584.
Eclipse previously reported that integration of historical radiometric, magnetic and structural datasets had defined 17 walk-up drill targets, including seven Priority 1 targets. Two Priority 1 targets comprise large, previously unexplored uranium radiometric anomalies southwest of Devil's Elbow.
EXPLORATION OPPORTUNITY
Historical geophysical interpretation identified magnetic lows coincident with radiometric anomalies at the Devil's Elbow, Terrace and Ferricrete prospects. Detailed airborne geophysical coverage has assisted Eclipse in developing a refined interpretation of the project's geological and structural setting.
Historical shallow trench and surface sampling at Devil's Elbow returned uranium assays including 3.2% U3O8, 3.7% U3O8, 4.40% U3O8 and 5.8% U3O8, together with associated assays of up to 38.1 g/t Au and 28.02 g/t Pd (Referto ASX announcements 'Results from Data Review - Devil's Elbow Uranium Prospect' dated 9 February 2015).
Historical drilling confirmed subsurface uranium mineralisation, including 5 metres at 942 ppm U3O8 from 116 metres in KLD7. These historicalexploration results do not constitute a Mineral Resource estimate. Further exploration is required to determine the continuity, extent and economic significance of mineralisation (Refer to ASX announcements 'Results from Data Review - Devil's ElbowUranium Prospect' dated 9 February 2015).
TRADITIONAL OWNER CONSENT AND NEXT STEPS
Following consultation with Traditional Owners at Kabulwarnamyo on 9 July 2026, facilitated by the Northern Land Council, consent has been received for a defined exploration work program at EL27584 that includes diamond drilling within the consented work areas, subject to applicable cultural heritage, environmental and regulatory requirements.
The approval represents an important advancement for Liverpool and provides Eclipse with a clear pathway to progress its previously identified priority uranium targets toward drill testing. Eclipse will continue to work closely with Traditional Owners, the Northern Land Council and relevant landmanagement organisations in planning future activities.
With the exploration pathway established, Eclipse will integrate the technical information to be delivered by Boss with its existing project database, refine the established target portfolio and determine the scope and timing of the next exploration phase and any strategic engagement.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/70MD3X29
(1) Refer to ASX announcements 'Results from Data Review - Devil's Elbow Uranium Prospect' dated 9 February 2015, 'Walk Up Drill Targets Defined Within Devil's Elbow Project Tenement' dated 20 April 2020 and 'Unlocking Uranium Potential in the NT' dated 21 October 2024.
About Eclipse Metals Limited:
Eclipse Metals Ltd (ASX:EPM) is an Australian exploration company focused on exploring southwestern Greenland, Australia's Northern Territory and state of Queensland for multi-commodity mineralisation. Eclipse has an impressive portfolio of assets prospective for cryolite, fluorite, siderite, quartz (high-purity silica), rare earths, gold, platinum group metals, manganese, palladium and vanadium mineralisation. The Company's mission is to increase shareholders' wealth through capital growth and ultimately dividends. Eclipse plans to achieve this goal by exploring for and developing viable mineral deposits to generate mining or joint venture incomes.
Contact:
Carl Popal
Executive Chairman
Eclipse Metals
+61 8 9480 0420
Media & Investor Relations
Eclipse Metals Limited
info@eclipsemetals.com.au
www.eclipsemetals.com.au
Source:
Eclipse Metals Limited
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