Plateau Uranium Inc. announced the first metallurgical test result from the leaching of the uranium-mineralized rhyolites occurring at surface from the Falchani discovery at its Macusani Plateau lithium/uranium project in Peru. The work was completed by TECMMINE, a Peruvian metallurgical consulting company based in Lima, Peru, and was reviewed by Grenvil Dunn of Hydromet (Pty) Ltd. ("Hydromet"). The test work was conducted to determine the mineralogical and metallurgical characteristics of the uranium-bearing rhyolites and if they are similar at Falchani to those from the Company's existing uranium resources and deposits in the north-eastern part of the project area. Leaching of 95% uranium using sulphuric acid at ambient temperatures of 20°C for 6 hours. Simple flowsheet identical to leach options used in 2016 Preliminary Economic Assessment (`PEA') Initial results exceed previous work used in 2016 PEA for existing uranium deposits (88% U recoveries)providing excellent upside for future Falchani processing options.Thick, potential higher uranium grades intersected from initial drill results at Falchani of 511-633 ppmU3O8 are 1.5 to 2 times existing resources used in 2016 PEA (289 ppm U3O8), which will improve potential processing footprint and lower throughput. Falchani uranium mineralization is located immediately at surface, suggesting enhanced economic potential of the Falchani discovery relative to the 2016 PEA where an average stripping ratio of 2:1 was used and LOM mining costs represented 67% of the potential production costs, estimated to be $17.28/lb U3O8 produced. The lithium-rich Falchani tuff unit mineralization averages 3,500 ppm Li (0.75% Li2O) is located deeper in the section and is uranium poor (averaging 10-15 ppm U), so was not considered for uranium extraction in this work. Lithium-rich mineralization remains open in all directions, and at depth.Drilling and test work continue at Falchani and additional results will be released when available. A single leach test was conducted on a sample of mineralized rhyolite from Falchani drilling with 310 ppm U3O8 and 345 ppm Li. The sample was milled to 80% passing 150 microns and leached at atmosphericpressure, and ambient temperature of 20°C with sulphuric acid over 6 hours in a standard bottle roll test. The test work achieved a uranium extraction of 95% at an estimated acid consumption of 20 kg/t. Thisvery high uranium extraction to the aqueous phase in the initial leach test program is very encouragingand additional leach and precipitation test work on the Falchani uranium-rich rhyolite is planned.