Boss Energy Limited (ASX: BOE; OTCQX: BQSSF) is pleased to announce that the recently-completed FEED study on its Honeymoon Uranium Mine in South Australia highlights a technically and financially robust project.

Importantly, the FEED study confirms that the cost estimates in the Enhanced Feasibility Study remain accurate.

The key highlights in the Honeymoon EFS include: Honeymoon is economically robust with an IRR of 47% at a US$60/lb U308 price; Honeymoon is technically robust, with nameplate production of 2.45Mlb U308 per annum at an AISC of US$25.60 over Life of Mine; Potential to extend beyond initial 11-year mine life through near mine satellite deposits.

Boss Managing Director Duncan Craib said the FEED provided more strong evidence of the outstanding outlook for Honeymoon. 'The planets are aligning perfectly for Boss and Honeymoon in every respect,' Mr Craib said. 'The FEED shows Honeymoon's costs are in line with the forecasts contained in last year's enhanced feasibility study, which is a superb outcome given the wider inflationary environment. 'It also confirms that production is projected to meet our targeted levels. 'These key findings come against a backdrop of significant increases in the uranium price and an exceptionally strong supply-demand outlook. 'Our recently announced $125 million equity raising, combined with the value of our strategic uranium inventory, means we are fully-funded through to production and cashflow. 'All these highly favourable factors have laid exceptional foundations for us to make a final investment decision in coming weeks, ensuring Boss will be Australia's next uranium producer.'

Contact:

Duncan Craib

Tel: +61 (8) 6263 4494

Forward-Looking Statements

This announcement includes forward-looking statements. These forward-looking statements are based on the Company's expectations and beliefs concerning future events. Forward-looking statements are necessarily subject to risks, uncertainties, and other factors, many of which are outside the control of Boss, which could cause actual results to differ materially from such statements. Boss makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of this announcement.

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