Reexploration Inc has confirmed that its 2026 uranium exploration drill programme at the Eureka Project in central Namibia is fully funded and entering the execution phase.
The Canadian-listed exploration company says capital is now in place, with detailed drill planning under way for a targeted programme aimed at testing high-priority uranium anomalies identified during its 2025 exploration activities.
The Eureka Project is located within one of the world’s leading uranium provinces.
The announcement follows the completion of two private placements that raised N$32 million (US$1.95 million) to fund ongoing exploration.
This included N$16.42 million (US$1 million) raised in December to advance near-term objectives and initiate uranium drilling.
ReeXploration also confirmed that it has completed a corporate rebrand, shifting its name to reflect a sharper focus on critical minerals aligned with global energy security and supply-chain diversification.
“The uranium targets we have defined at Eureka are technically compelling, located in one of the world’s premier uranium districts, and ready to be tested,” says ReeXploration interim chief executive Christopher Drysdale.
“This year is about drilling and results, and we believe this programme has the potential to materially expand the scale and strategic relevance of the Eureka Project,” Drysdale says.
He adds that during the second half of 2025, the company expanded the scope of the Eureka Project beyond rare earth elements after identifying multiple high-priority uranium targets.
These targets are supported by radiometric and geochemical anomalies consistent with large intrusion-related uranium systems and are considered drill-ready.
As a result, the Eureka Project has been repositioned as a dual-commodity critical minerals asset, combining its established rare earth element foundation with a newly defined uranium exploration opportunity.
ReeXploration says it will provide further updates as drilling and exploration activities progress.
The scientific and technical information relating to the project has been reviewed and approved by consulting geologist Tolene Kruger.
– Mining & Energy
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