Luna Energy Ltd. is exploring uranium potential of the western portion of the Paraná sedimentary basin in Paraguay, focusing on areas identified by historical data from Anschutz Corporation and in proximity to two areas currently held by Uranium Energy Corp. (NYSE:UEC). After analyzing and digitizing past exploration data, as well as completing considerable time in the field assessing the areas of interest, Luna’s Paraguayan subsidiary filed 12 applications covering 14 individual Prospection Permits in southeastern Paraguay covering a total area of approximately 312,000 hectares (collectively, the "Cabayu Uranium Project").

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