Westwater Resources rejects unsolicited proposal from Idaho Strategic Resources

WESTWATER RESOURCES, INC.

Westwater received unsolicited proposal from Idaho Strategic Resources (IDR) on Dec 15, 2022.
Board and management determined on Dec 19, 2022 not to pursue the proposal as not in best interests.
IDR had cash on hand net of liabilities less than $1 million as of Sep 30, 2022, per Westwater.
Westwater's Kellyton Plant Phase I construction cost estimated at ~$202M; ~$50M incurred; ~$100M cash on hand.
Westwater believes proposal lacks synergies and is an opportunistic attempt to use its cash committed to Kellyton.

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