Quarterly Activities and Cashflow Report March 2025

Toro’s 100%-owned Wiluna Uranium Project is located near Wiluna on the Goldfields Highway, some 750km NE of Perth in Western Australia. The Wiluna Project consists of the Lake Maitland, Lake Way, and Centipede- Millipede Deposits (see Figure 1). Together, these deposits of the Wiluna Uranium Project contain some 87.8 Mt grading 381ppm U3O8 for 73.6 Mlbs of contained U3O8 at a 100ppm U3O8 cut-off (