Uranium Mining and Exploration

[Lone Clone]

Aero Energy/Standard Uranium Report on Recent Exploration Insights at the Sun Dog Project with Option Partner Aero Energy Ltd.

https://ca.finance.yahoo.com/news/standard-uranium-reports-recent-exploration-113000951.html

Standard Uranium Ltd.
Tue, April 16, 2024 at 4:30 a.m. PDT·11 min read

AAUGF
-8.89%

STTDF
-0.36%

Sun Dog is host to globally significant former uranium producer.

VANCOUVER, British Columbia, April 16, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide a comprehensive summary of exploration insights and historical data gathered at its Sun Dog Uranium Project (“Sun Dog”, or the “Project”), currently under a three-year earn-in option agreement with Aero Energy Ltd. (“Aero”) (TSX-V: AERO).

Highlights:

History of Production: The project hosts the historical Gunnar Mine which produced 18M pounds of U3O8 between 1953 and 1981 and was formerly the world’s largest uranium producer1,2.

Uranium Above and Below the Unconformity: Numerous historical high-grade* uranium showings ranging between 0.10% and 12.39% U3O8 have been documented at surface3,4. These showings occur in both basement rocks below the Unconformity and perched within Athabasca sandstones above the Unconformity thus confirming the presence of unconformity-related high-grade uranium on the Sun Dog Project.

Radioactivity at the Unconformity: Prospecting conducted by Standard Uranium has identified anomalous** to strong radioactivity ranging between 500 cps and >65,535 cps immediately associated with sandstone and basement faults, and along the surface expression of the Unconformity at multiple target areas providing further compelling support for the high prospectivity of the Sun Dog Project.

Favorable Host Rocks: An airborne VTEM™ Plus survey is currently underway designed to pinpoint graphitic rocks (conductors) favourable for hosting significant concentrations of uranium. This modern electromagnetic (“EM”) survey will infill and improve upon historical surveys which have identified at least 40 km of combined conductor strike length.

Target Development & Drilling: The results of the VTEM™ Plus survey will be subject to geophysical interpretation and modelling, and integrated with the Project’s existing datasets, to select and prioritize targets for the upcoming summer drill program scheduled to begin in early June.

Jon Bey, CEO of Standard Uranium, commented: “We are thrilled to return to the Sun Dog Project and continue advancing our exploration strategy targeting prospective high-grade uranium targets. The 2024 exploration program will leverage the results of the modern VTEM™ Plus survey currently underway, in addition to the combined uranium expertise of our joint technical team with partners at Aero Energy. The summer of 2024 will be an exciting time for active exploration in the Uranium City region and we are eager to get our drills spinning.”

Galen McNamara, CEO of Aero Energy, commented: “The Sun Dog Project is highly prospective for shallow high-grade uranium mineralization and is largely underexplored. The VTEM™ Plus survey covering both the Sun Dog and Murmac projects is nearing completion, and we expect the results to identify a significant number of high-priority drill targets for follow-up during our planned drill program scheduled to begin in early June. We look forward to sharing target information more specifically in the coming weeks as we advance towards our maiden drilling program”.



Uranium mineralization in Athabasca Group sandstone above the Unconformity on Stewart Island with radioactivity exceeding 65,535 counts-per-second.

Figure 1. Uranium mineralization in Athabasca Group sandstone above the Unconformity on Stewart Island with radioactivity exceeding 65,535 counts-per-second.

Sun Dog Project Overview and Historical Exploration:

The Project is currently under option (the “Option”) to Aero Energy Ltd. (the “Optionee”) an arms-length company (TSX-V: AERO). Pursuant to the Option Agreement, the Optionee will be granted the option to acquire 100% of the Project located along the northwestern edge of the Athabasca Basin, by funding C$6.5 million in exploration expenditures over a three-year period, making cash payments totalling C$650,000, and issuing C$650,000 in common shares, over a 2-year period. Following exercise of the Sun Dog Option, Standard will retain a 2% net smelter returns royalty, which may be reduced to 1% for a $1,000,000 cash payment.

The Project covers an area of 48,443 acres in nine mining claims, located 15 km from Uranium City on the northern margin of the Athabasca Basin. It hosts the historical Gunnar Uranium Mine, discovered in 1952, which doubled Canada’s uranium production and became the largest uranium producer globally in 1956. The Gunnar Mine produced approximately 18M lbs of U3O8 between 1953 and 19811,2.

During this time exploration efforts in the area primarily focused on “Beaverlodge-style” deposits, typically lower-grade, fault-hosted mineralization visible at the surface. This approach did not target, and would not have been effective for, the high-grade "Unconformity-related" basement-hosted deposits associated with graphitic rocks more recently discovered near the Athabasca Basin's edge (e.g. Arrow, Triple R).

These deposits are associated with graphite-rich rocks, evident as electromagnetic (EM) conductors in geophysical surveys. These graphite-rich rocks, softer than surrounding quartzite and granitoid lithologies, are not exposed at the surface. Instead, they are found in deeply weathered valleys, concealed by glacial till, soil and small lakes. The historical exploration methods applied included airborne radiometric and surface prospecting, identifying radioactive anomalies and drill testing their extents. This approach is not effective for this type of basement-hosted mineralization.

With only limited previous drilling, the extensive (>40 km strike length) conductors targeted at Sun Dog remain largely unexplored, offering significant potential for future discovery (Figure 2).



Selected uranium occurrences and known EM-conductors present on the Sun Dog Project

Figure 2: Selected uranium occurrences and known EM-conductors present on the Sun Dog Project

Preliminary Modern Exploration

Recent exploration efforts by Standard Uranium have focused on the most promising historical target areas, namely Skye, Java, and Stewart Island, testing down-dip extensions of structures hosting uranium at surface with the aim of discovering high-grade unconformity mineralization and basement “roots” of the mineralizing systems underlying the Athabasca sandstones.

Prospecting & Surface Exploration

In the fall of 2020, crews collected 56 outcrop grab samples, 6 boulder samples, and 14 historical core samples from the Project. These were primarily collected from mineralized target areas and from historical drill holes completed by former operators of the project.

Prospecting led to the discovery of a new high-grade uranium showing named the Haven discovery and several zones of visible uranium mineralization at surface that returned uranium assay results of 3.58% U3O8, 1.7% U3O8, and 0.7% U3O8.

Additionally, the analytical results revealed a correlation between uranium and gold, while boron and other pathfinder elements highlighted the potential for a robust alteration footprint associated with uranium mineralization. Surficial grab samples from faults and veins cutting sandstone outcrop returned high concentrations of dravite (up to 75%), a uranium pathfinder mineral commonly associated with uranium-fertile systems.

In the summer of 2022, Standard Uranium executed a field mapping and prospecting program to expand upon the results of the 2020 prospecting program. Scintillometers were used to track radioactivity with more than 80 new mineralized boulder and bedrock locations discovered on Johnston and Stewart islands.

The expanded surface expression of mineralization on south Johnston Island displayed scintillometer readings >10,000 cps and locally off-scale (>65,535 cps) and the historical mineralized surface occurrences on Stewart Island were confirmed with scintillometer measurements ranging from >500 cps to >65,535 cps. Radioactivity measurements were collected with hand-held RS-121 or RS-125 scintillometers. These occurrences provide compelling support for the presence of high-grade unconformity-associated uranium mineralization on the project.

Gravity and Magnetic Surveys

In the winter of 2022, MWH Geo-Surveys Ltd. carried out a ground gravity survey and UAV-borne magnetic surveys in the areas of Johnston and Stewart islands on behalf of Standard Uranium.

The gravity survey consisted of 3,388 unique gravity measurement stations and 155 repeat stations with a station spacing of 50 to 100 m. The survey identified several variations in residual gravity and outlined multiple gravity low target areas on and around Stewart and Johnston islands.

The magnetic survey consisted of 572 line-kilometres of UAV magnetics at a line spacing of 50 m. Flightlines were flown either southeast or northwest at an elevation of approximately 48 m above ground level. The survey effectively mapped magnetic variations corresponding to changes in lithology and alteration which assisted in drill targeting.

First Pass Drilling

Standard Uranium carried out two drill programs on the Project during the winters of 2022 and 2023. In total 2,469 m of diamond drilling was completed across fourteen drill holes (Figure 3).

Drilling focused on testing for zones of high-grade unconformity-related uranium mineralization with targets identified based on the ground gravity and UAV magnetic data, lakebed radiometric anomalies, and resistivity lows, all coincident with cross-cutting faults and historical surface mineralization. Several gravity low anomalies have been identified and coincide with breaks or flexures in electromagnetic conductors under Athabasca sandstone cover, interpreted to potentially represent zones of strong alteration in bedrock, specifically clay alteration, commonly associated with the footprint of high-grade uranium deposits.

The 2022 and 2023 diamond drill programs were successful in identifying key geological characteristics prospective for significant uranium mineralizing systems on the Project, which in turn will aid in planning and prioritization of additional exploration targets for follow-up drill programs.

Drilling highlights include5:

Widespread hydrothermal alteration zones containing illite-rich and dravitic clays and abundant iron-oxide minerals intersected in multiple drill holes, indicating a robust fluid system with prospective chemistry for uranium.

Significant structural influence evidenced to control high-grade uranium mineralization and anomalous radioactivity in drill holes.

Reactivated graphitic shear zones & quartz-hematite breccias intersected over 10s of metres in several drill holes indicate ideal structural regime providing the plumbing system for uranium mobilization.

Favorable geochemistry returned in multiple drill holes, including prospective clay spectroscopy results (dravite), elevated pathfinder elements, and anomalous uranium correlated to lead isotope ratios which may be used as an additional exploration vector.

Elevated radioactivity over a total of 1.5 metres up to 1,300 cps*** intersected in drill hole SD-23-013 at the Haven discovery. Assay highlights include 0.042 wt.% U308 from 79.0 to 79.5 m and 0.021 wt.% U308 from 79.5 to 80.0 m.





Historical and Standard Uranium Drill Holes with Target Areas on the Sun Dog Project

Figure 3. Historical and Standard Uranium Drill Holes with Target Areas on the Sun Dog Project

*The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.
** The Company considers radioactivity readings greater than 300 counts per second (cps) to be “anomalous”.
***Natural gamma radiation in diamond drill core reported in this news release was measured in counts per second (cps) using a handheld RS-125 super-spectrometer and verified using a down-hole Mount Sopris 32GR slim gamma probe. The 32GR gamma probe has been calibrated to optimize the probe for uranium exploration logging and estimating weight percent U3O8 content. Readers are cautioned that scintillometer and gamma probe readings are not uniformly or directly related to uranium grades of the rock sample measured and should be treated only as a preliminary indication of the presence of radioactive minerals. All drill hole intersections are measured down-hole. Core interval measurements and true thicknesses are yet to be determined.

The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.

Historical data disclosed in this news release relating to sampling results on the Sun Dog Project is historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company’s future exploration work will include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of the Project.

About Standard Uranium (TSX-V: STND)

We find the fuel to power a clean energy future

Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.

Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.

Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.

Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.

Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.

For further information contact:

Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: [phone]
E-mail: [e-mail]

References

Gunnar Uranium Mine: From Cold War Darling to Ghost Town, L. Schramm, Saskatchewan Research Council, 2018.

Geology and Genesis of Major World Hardrock Uranium Deposits, United States Geological Survey, Open-File Report 81-166, 1981.

2022 Winter Mineral Assessment Report, Sun Dog Property, Northern Saskatchewan, Canada, Standard Uranium, 2022

Information obtained from Saskatchewan Mineral Deposit Index, occurrence number 1254

Standard Uranium News Release, November 2, 2023

Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.

Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.

The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/786d0c9d-2c6f-47b9-b684-b63a493fb127

https://www.globenewswire.com/NewsRoom/AttachmentNg/4520e482-a137-41b0-b8df-6c5ce8dc0073

https://www.globenewswire.com/NewsRoom/AttachmentNg/b724b55c-4887-4a90-a854-164bd98b14a2

[Lone Clone]

F3 Intersects Radioactivity Across Multiple Zones Uncovers Significant and Favorable Reverse Faulting at B1

https://www.newsfilecorp.com/release/205638

April 16, 2024 4:25 AM EDT | Source: F3 Uranium Corp.

Kelowna, British Columbia--(Newsfile Corp. - April 16, 2024) - F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF)

[Lone Clone]

Myriad Uranium: Guided by Historical Data Trove, Myriad Acquires the 'Midnight Prospect' at Copper Mountain

https://www.newsfilecorp.com/release/205441

April 15, 2024 7:30 AM EDT | Source: Myriad Uranium Corp.

Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Myriad Uranium Corp. (CSE: M) (OTCQB: MYRUF) (FSE: C3Q) ("Myriad" or the "Company") is pleased to announce that Myriad and its earn-in partner Rush Rare Metals Corp. ("Rush") have acquired by staking a new area identified in proprietary historical data as "The Midnight Prospect" or "Midnight" (see Figure 1 below). The historical data indicate that Midnight is highly prospective and may potentially contain up to 10 Mlbs eU3O8 according to earlier reports by Rocky Mountain Energy Corp ("RME"), a subsidiary of Union Pacific, and a map from a 1991 Anaconda report (see Figure 2 below). Rush's CEO Peter Smith recently visited the Midnight Prospect. A video of his visit can be viewed here.

Midnight aggregates 798 acres, and its acquisition increases the area subject to Myriad's 75% earnable interest under the property option agreement between Myriad and Rush (see Myriad's news release dated October 20, 2023 for further details) by 28%, from 2,807 acres to 3,605 acres.



Figure 1: Current Copper Mountain Project Area including the newly acquired Midnight Prospect

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/205441_f991f3c78498e935_002full.jpg

Previous work by RME (December 1979 report) indicated that both the granite and Tertiary sediments of the area are favourable source rocks from which uranium could be leached. Stream sediment sampling delineated several zones with anomalous uranium content that warrant further work. Structural preparation of the area is of a magnitude that would permit significant quantities of uranium to be leached, transported and concentrated in a reducing environment. Pyrite, the primary reducing agent for uranium, is present in most of the drill holes in the area and, along with the presence of hydrocarbons, indicates that an adequate reducing environment existed to precipitate uranium.

Initial drilling by RME intercepted trace to very low-grade mineralization; however only a very small portion of the Midnight Fault zone has been tested. The structural preparation, oxidation/alteration profile and presence of adequate reductant should be considered favourable elements for Canning-type mineralization, which RME concluded could represent a target of up to 10 million pounds eU3O8.



Figure 2: Midnight claims (red rectangle) on a map from a 1991 Anaconda report indicating the Midnight Prospect, which potentially contains up to 10 Mlbs eU3O8. (Confidential information redacted.).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6301/205441_f991f3c78498e935_003full.jpg

Myriad's CEO, Thomas Lamb, commented, "Midnight is the latest in a series of expansions we have planned, guided by our proprietary non-digital historical data set which indicates an array of uranium deposits and prospects in the Copper Mountain district. This data set was the product of C$117 million (2023$) in spending by Union Pacific in the 1970s. They drilled around 2,000 boreholes at Copper Mountain, discovering at least six uranium deposits and a significant number of highly prospective targets which they were not able to follow up. They believed just two of the six or more uranium deposits they identified at Copper Mountain have the potential to host up to 63.8 Mlbs of uranium. The potential of the entire district could be significantly greater."

Mr. Lamb continued, "Union Pacific did conduct surface work and limited drilling at Midnight but their resource estimates of between 15 and 30 million pounds for the Copper Mountain area, which we published in November 2023, did not take Midnight into account. Instead, Midnight was slated for future exploration and verification, but this was cut short by fast-falling uranium prices after 1979's Three Mile Island. The uranium-bearing structures at Copper Mountain were quite well understood by Union Pacific and we believe that they had a strong basis for their assessment of Midnight's potential. In a recent news release we discussed 82 historical boreholes at the "High Grade Area" within the Canning Deposit at Copper Mountain. The insights from those holes, and the very long mineralised intercepts encountered there of up to 291 feet and high grades up to 3,850 ppm, bolster our confidence that we can pursue high grades and big volumes across Copper Mountain, including Midnight and many other new areas, not just the areas Union Pacific included in its resource estimates that we previously reported. Union Pacific was only just starting to concern itself with the high grade in the structures when they paused. We're now going to really focus on them and look for high grade deeper than they did, since they never drilled deeper than roughly 183 metres. There is much more to come. Please stay tuned."

A qualified person (as defined under NI 43-101) has not done sufficient work to classify the historical target estimates reported in this news release as current mineral resources or mineral reserves, and Myriad is not treating the historical target estimates as current mineral resources or mineral reserves. In particular, the Company considers that insufficient work has been done to estimate a resource at the Midnight property and the potential cannot be relied upon until further work is done.

Qualified Person

The scientific or technical information in this news release respecting the Company's Copper Mountain Project has been approved by George van der Walt, MSc., Pr.Sci.Nat., MGSSA, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects. It is based on the Qualified Person's initial review of historical reports which were recently obtained by the Company. The Qualified Person considers the information to be relevant based on the amount and quality of work undertaken and reported historically. However, the information did not include original data such as drilling records, sampling, analytical or test data underlying the information or opinions contained in the written documents. Therefore, the Qualified Person has not reviewed or otherwise verified the information and has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. A more thorough review of any available original data will be undertaken and reported on in more detail in future releases.

About Myriad Uranium Corp.

Myriad Uranium Corp. is a uranium exploration company with an earnable 75% interest in the Copper Mountain Uranium Project in Wyoming, USA. Copper Mountain hosts several known uranium deposits and historic uranium mines, including the Arrowhead Mine which produced 500,000 lbs of eU3O8. Copper Mountain saw extensive drilling and development by Union Pacific, which developed a mine plan and built a leach pad for one of the deposits at Copper Mountain. Operations ceased in 1980 before mining could commence due to falling uranium prices. Approximately 2,000 boreholes have been drilled at Copper Mountain and the project area has significant exploration upside. Union Pacific is estimated to have spent C$117 million (2023 dollars) exploring and developing Copper Mountain, generating significant historical resource estimates which are detailed here.

Myriad also holds 80% ownership of over 1,800 km2 of uranium exploration licenses in the Tim Mersoi¨ Basin, Niger, with the option to earn up to 100%. These licenses are surrounded by many of the most significant uranium deposits in Africa, including Orano's 384 Mlbs eU3O8 Imouraren, Global Atomic's 236 Mlbs Dasa, and Goviex's 100 Mlbs Madaouela, and on the same fault structures. Myriad also has a 50% interest in the Millen Mountain Property in Nova Scotia, Canada, with the other 50% held by Probe Metals Inc. For further information, please refer to Myriad's disclosure record on SEDAR+ (www.sedarplus.ca), contact Myriad by telephone at +1.604.418.2877, or refer to Myriad's website at www.myriaduranium.com.

Recent interviews with Crux Investor and VSA are here and here. A video overview of the Copper Mountain Project is here.

Myriad Contacts:
Thomas Lamb
President and CEO
[e-mail]

Forward-Looking Statements

Mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company's properties. This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect, including with respect to the Company's business plans respecting the exploration and development of the Company's mineral properties, the proposed work program on the Company's mineral properties and the potential and economic viability of the Company's mineral properties. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.

The CSE has not reviewed, approved or disapproved the contents of this news release.

SOURCE: Myriad Uranium Corp.

[Lone Clone]

Forum Energy: Ambient Noise Tomography Survey Establishes New Drill Targets over 1+ km Extension Along the Tatiggaq Fault Zone, Aberdeen Uranium Project, Nunavut

https://www.newsfilecorp.com/release/205494

April 15, 2024 7:00 AM EDT | Source: Forum Energy Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - April 15, 2024) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") has reviewed initial data processed from its Ambient Noise Tomography (ANT) survey conducted over the Tatiggaq anomaly during the summer of 2023, The survey successfully established new drill targets over a one plus kilometer east-northeast extension along the Tatiggaq fault zone, which hosts the high-grade Tatiggaq uranium discovery at Forum's 100% owned Aberdeen Project in the Thelon Basin, Nunavut. The Aberdeen project comprises 95,500 hectares and is located adjacent to Orano's 133 million pound Kiggavik uranium project* (Figure 1).

Dr. Rebecca Hunter, Forum's VP, Exploration commented, "The ANT survey may be a game-changing geophysical method for targeting unconformity systems in the northeast Thelon Basin. By measuring the velocity change interfaces throughout our anomalies, we can potentially image the faults that host the mineralization and the location of the mineralized bodies themselves. The survey results obtained suggest we will be able to target our drilling with a much higher degree of precision than what could be done in the past. I am very excited to resume on our Aberdeen Project in 2024."

HIGHLIGHTS

New ANT survey data has potentially imaged the depth and location of the metasedimentary bodies that host the mineralization.

The steep-dipping ore controlling structures have been imaged by the ANT survey and will help greatly with targeting throughout the anomaly both along strike but also along sub-parallel structures.

The ANT survey suggests that potential additional mineralized bodies to the east-northeast are at similar depth to the known mineralization to date (<200 m).

ANT surveys were also conducted on both the Ned and Bjorn anomalies and are currently being processed with results expected by June.

Tatiggaq Deposit

Forum drilled four holes in 2023 and the first two holes targeted the Tatiggaq Main area. The objective was to drill through to main mineralized zone at a more optimal angle and show that the mineralization is within a series of steep-dipping, high-grade lenses. TAT23-001 was lost and TAT23-002 intersected 2.25% U3O8 over 11.1 from 148.5 to 159.6 m (incl. 3.32% U3O8 over 3.1 m). TAT23-003 and TAT23-004 were drilled along trend to the SW up to 200 m from TAT23-001/-002. These holes were designed to infill and expand known areas of mineralization at Tatiggaq West. TAT23-003 intersected 0.40% U3O8 over 12.8 m from 136.0 to 148.8 m (incl. 1.08% U3O8 over 1.3 m) and TAT23-004 intersected 0.40% U3O8 over 18.9 m from 151.4 to 170.3 m (incl. 1.01% U3O8 over 6.2 m).

Mineralization within the Tatiggaq deposit consists of two zones - the Main and West Zones and is located at depths between 80 and 180 m. The mineralization is hosted in a series of high-grade subparallel, steep, south-dipping fault zones that sit within a 50 m wide area (Figure 2). Individual high-grade mineralized structures are up to 10 m in width. The strike extent of the Main Zone is at least 60 m but is open to the northeast and the West Zone is now 150 m in strike length and is open to the southwest. Further delineation is required between the two zones to determine if they are connected. In addition, the entire 0.7 km wide by 1.5 km long Tatiggaq gravity anomaly remains open for additional uranium mineralization both along strike of the known zones but also along numerous sub-parallel fault zones to the north and south.

Ambient Noise Tomography Survey (ANT)

The ANT survey is a passive seismic technique that detects seismic waves by natural sources like ocean wave action that is then used to image the subsurface.

In 2023, Patterson Geophysics Inc. (PGI) was contracted to deploy and recover a total of 475 seismic 1D Nodular Recording Units (NRUs) over the Tatiggaq (Figure 3), Ned and Bjorn grids. Geophysical Technology Inc. NuSeis NRUN1 autonomous seismic nodal recording units were used for the survey. In total, 475 NRUs were deployed in three (3) grid areas on the Aberdeen Project in July 2023. 344 NRUs were deployed on the Tatiggaq grid at 60 m intervals; 77 NRUs were deployed on the Ned grid at 150 m intervals, and 54 NRUs were deployed on the Bjorn grid at 150 m intervals. The PGI crew returned to the Thelon project to retrieve the NRUs after a recording period of 24-26 days. The data was downloaded from the NRUs using GTI's Portable Data Management system and a GTI-supplied laptop with NuSite, NuSeis, and NuScribe software.

Ongoing data processing is being completed by Ambient Reservoir Monitoring Inc. (ARM) through the direction of Kyle Patterson at Convolutions Geoscience. A preliminary 3D slice of the processed velocity data is shown for the Tatiggaq Grid (Figure 4).

*Source: Areva Resources Canada Inc., The Kiggavik Project, Project Proposal, November 2008 and Kiggavik Popular Summary, April, 2012 submission to the Nunavut Impact Review Board.

Rebecca Hunter, Ph.D., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.



Figure 1 The Thelon Basin is a geologic analogue to the Athabasca Basin in Saskatchewan. Orano's uranium deposits are along the same controlling structures as Forum's Tatiggaq deposit and over 20 other targets are present within the project, which could host additional uranium deposits similar to the Athabasca Basin.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_003full.jpg



Figure 2 The Tatiggaq Main and West zones are interpreted to be a series of near vertical, uranium- bearing lenses that trend for 1.5 km. The width of the mineralized section is interpreted to be approximately 50 m but its total width is not yet determined. TAT23-002 only intersected two of these lenses that were intersected in near vertical holes by Cameco's previous drilling (for example 0.85% over 13.7m in hole TUR14A). Proposed future drill holes will target mineralization to intersect the true width of the zone and its strike extent.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_004full.jpg



Figure 3 Location of Nodular Recording Units deployed at the Tatiggaq Grid.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_005full.jpg



Figure 4 ENE-WSW section through the Tatiggaq Grid showing the ANT processed 3D velocity data. Data viewed in Leapfrog Geo. Velocity data highlights steep NW-trending faults and changes in velocity are possible interfaces of different alteration strengths and/or rock units. Interpretation is still preliminary.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/205494_6b28dec534900b7c_006full.jpg

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho.

For further information: https://www.forumenergymetals.com.

This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

Rick Mazur, P.Geo., President & CEO
[e-mail]
Tel: [phone]

SOURCE: Forum Energy Metals Corp.

[Lone Clone]

Green Shift Closes Previously Announced Sale of the Berlin Project, Colombia

https://ca.finance.yahoo.com/news/green-shift-closes-previously-announced-110000127.html

Green Shift Commodities Ltd.
Tue, April 9, 2024 at 4:00 a.m. PDT·4 min read

GRCMF
0.00%

TORONTO, April 09, 2024 (GLOBE NEWSWIRE) -- Green Shift Commodities Ltd. (TSXV: GCOM and OTCQB: GRCMF), (“Green Shift”, “GCOM” or the “Company”) is pleased to announce that it has closed the previously announced (see previous press release dated December 11, 2023), sale (the “Transaction”) of its Berlin Project (“Berlin” or the “Project”) located in Caldas, Colombia to Jaguar Uranium Corp. (formally Latam Battery Metals Inc.) (“Jaguar”). Jaguar is an arm’s length privately-held company focused on the uranium sector with strong operating experience in Colombia and intends to pursue a listing on a recognized stock exchange in North America (the “Listing”) in the coming months.

Trumbull Fisher, CEO and Director of GCOM, commented, “We are pleased to complete this transaction which offers GCOM several benefits. Firstly, with multiple lithium exploration opportunities, our portfolio now appropriately reflects our exploration focus and technical expertise in Canada and Argentina. Secondly, our equity position in Jaguar complements our basket of uranium holdings which includes IsoEnergy Ltd., Atha Energy Corp., and Premier American Uranium Inc., offering significant leverage as the sector’s momentum continues. Finally, as a result of offsetting the liabilities and taxes associated with Berlin and future cash payments as the Project is advanced, we now have an improved and strengthened balance sheet to continue advancing our projects and assessing additional strategic opportunities.”

Mr. Fisher, continued, “As a significant shareholder of Jaguar, we look forward to the Listing and remain committed to the Project’s advancement, which we believe has the potential to unlock significant value for our collective shareholders.”

Luis Ducassi, CEO of Jaguar, commented, “We believe Berlin is an exceptional asset and we are excited to utilize our in-country and capital markets expertise to advance the Project through a new and dedicated vehicle as sentiment for uranium grows. We thank the GCOM team for their invaluable support and anticipate further collaboration as we advance the Project. Additionally, we welcome Trumbull to our board and look forward to leveraging his expertise.”

Pursuant to the share purchase agreement between GCOM and Jaguar dated December 8, 2023 (the “Agreement”), Jaguar has acquired 100% of the issued and outstanding shares (the “Target Shares”) of two wholly-owned subsidiaries of GCOM, which together hold indirectly a 100% interest in the Project for consideration comprised of:



(i)

CDN$20,000 in cash;



(ii)

1,211,687 common shares of Jaguar (“Jaguar Shares”), representing 20% of the current outstanding Jaguar Shares; and



(iii)

a 1% NSR royalty payable on all production from the Property.


In addition, effective as of closing of the Transaction, Trumbull Fisher, CEO and Director of GCOM has been appointed to the Jaguar board of directors.

GCOM is also entitled to receive additional consideration upon the satisfaction of certain milestones as follows:



(a)

On the earlier of (i) 90 days after the date on which the Project has been brought into good standing, and (ii) five days following completion of the Listing, CDN$1,000,000 in cash;



(b)

Upon completion of the Listing, either (i) assuming the Listing is completed within 12 months following the Closing, the greater of (1) such number of additional Jaguar Shares that would result in GCOM owning 20% of the number of post-Listing Jaguar Shares; and (2) such number of additional Jaguar Shares with a value of CDN$5,000,000, in each case at a deemed price per share equal to the Listing price; or (ii) assuming the Listing is not completed within 12 months following Closing, the greater of (1) such number of additional Jaguar Shares that would result in GCOM owning 25% of the number of post-Listing Jaguar Shares; and (2) such number of additional Jaguar Shares with a value of CDN$6,000,000, in each case at a deemed price per share equal to the Listing price; and



(c)

As soon as practicable, and in any event within 30 days, after the date that Jaguar achieves commercial production of uranium ore from the Property, CDN$5,000,000 in cash.


From the date of closing the Transaction until such time as all the Consideration has been paid, Jaguar has agreed not to transfer any interest in the Target Shares or the Property without the prior written consent of GCOM, which consent may be withheld, conditioned or delayed in the sole discretion of GCOM.

GCOM issued 3,333,333 common shares to Generic Capital Corp. as compensation for advisory services in connection with the Transaction.

About Green Shift Commodities Ltd.

Green Shift Commodities Ltd. is focused on the exploration and development of commodities needed to help decarbonize and meet net-zero goals. The Company is advancing a portfolio of lithium prospects across the Americas. This includes the Rio Negro Project, a district-scale project in an area known to contain hard rock lithium pegmatite occurrences that were first discovered in the 1960s, yet largely underexplored since and the Santiago Luis Lithium Project, both located in Argentina. The Company is also exploring the Armstrong Project, located in the Seymour-Crescent-Falcon lithium belt in northern Ontario, known to host spodumene-bearing lithium pegmatites and significant discoveries.

For further information, please contact:

Green Shift Commodities Ltd.
Trumbull Fisher
Director and CEO
Email: tfisher @optomam

Website: www.greenshiftcommodities.comTwitter: @greenshiftcom
LinkedIn: https://www.linkedin.com/company/greenshiftcommodities/

Forward-Looking Statements

This news release includes certain “forward looking statements”. Forward-looking statements consist of statements that are not purely historical, including statements regarding beliefs, plans, expectations or intentions for the future, and include, but not limited to, statements with respect to: the future direction of the Company’s strategy; the expected benefits from completion of the Transaction; the Listing; and other activities, events or developments that are expected, anticipated or may occur in the future. These statements are based on assumptions, including that: (i) expectations and assumptions concerning the Transaction; (ii) actual results of exploration, resource goals, metallurgical testing, economic studies and development activities will continue to be positive and proceed as planned, (iii) requisite regulatory and governmental approvals will be received on a timely basis on terms acceptable to Green Shift (iv) economic, political and industry market conditions will be favourable, and (v) financial markets and the market for uranium, battery commodities and rare earth elements will continue to strengthen. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements, including, but not limited to: (1) the failure to satisfy the conditions to completion of the arrangement, (2) changes in general economic and financial market conditions, (3) changes in demand and prices for minerals, (4) the Company’s ability to source commercially viable reactivation transactions and/or establish appropriate joint venture partnerships, (5) litigation, regulatory, and legislative developments, dependence on regulatory approvals, and changes in environmental compliance requirements, community support and the political and economic climate, (6) the inherent uncertainties and speculative nature associated with exploration results, resource estimates, potential resource growth, future metallurgical test results, changes in project parameters as plans evolve, (7) competitive developments, (8) availability of future financing, (9) the effects of COVID-19 on the business of the Company, including, without limitation, effects of COVID-19 on capital markets, commodity prices, labour regulations, supply chain disruptions and domestic and international travel restrictions, (10) exploration risks, and other factors beyond the control of Green Shift including those factors set out in the “Risk Factors” in our Management Discussion and Analysis dated May 1, 2023 for the fiscal year ended December 31, 2022 and other public documents available under the Company’s profile on SEDAR+ at www.sedarplus.ca.Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Green Shift assumes no obligation to update such information, except as may be required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

[Lone Clone]

Standard Uranium Intersects Anomalous Radioactivity, Prospective Structure and Alteration in Multiple Drill Holes at Atlantic Project; Concludes Inaugural Drill Program

https://ca.finance.yahoo.com/news/standard-uranium-intersects-anomalous-radioactivity-110000866.html

Standard Uranium Ltd.
Thu, April 11, 2024 at 4:00 a.m. PDT·9 min read

STTDF
-4.36%

VANCOUVER, British Columbia, April 11, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU)

[Lone Clone]

Anfield Energy Achieves Significant Milestone to Recommence Uranium Production at Shootaring as the Company Submits its Mill Reactivation Plan to the State of Utah, Which Includes a Tripling of Licensed Production Capacity

https://ca.finance.yahoo.com/news/anfield-energy-achieves-significant-milestone-110000641.html

Anfield Energy Inc.
Tue, April 9, 2024 at 4:00 a.m. PDT·12 min read

ANLDF
-1.33%

VANCOUVER, British Columbia, April 09, 2024 (GLOBE NEWSWIRE) -- Anfield Energy, Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (

[Lone Clone]

Strathmore Finalizes Agate Permit for 200 Hole Drilling Program

https://www.newsfilecorp.com/release/204882

April 10, 2024 7:00 AM EDT | Source: Strathmore Plus Uranium Corp.

Kelowna, British Columbia--(Newsfile Corp. - April 10, 2024) - Strathmore Plus Uranium Corporation (TSX: SUU) (OTCQB: SUUFF) ("Strathmore" or "the Company") is pleased to announce we are planning a 200-hole drill program in 2024 for Agate totaling 30,000 feet. The active drill permit has been amended and sent to state and federal regulators with exploration planned to begin in spring upon approval of proposed permit amendments.

Mr. Terrence Osier, VP Exploration of Strathmore said "During our Phase 1 drill program in 2023, we successfully discovered uranium roll front mineralization saturated with groundwater at shallow depths, from 80 to 150 feet deep, confirming the available historical data. The 2024 drill targets are planned this year to extend the discovered roll front into untested ground, in addition to other targets across the Project. One of these targets lies a mile south of the area we drilled in 2023, including historic intercepts of 4 feet of 0.35% eU3O8 from 85 to 89 feet (hole KM-23-119) and 7 feet of 0.062% eU3O8 from 87 to 94 feet (hole KM-15-138). Strathmore intends to subcontract with the same drilling contractor and geophysical logger as was used in 2023- Single Water Services, Hawkins CBM Logging."

Strathmore is very encouraged by UR-Energy's announcement last month to begin construction of a satellite in-situ operation at their nearby Shirley Basin Project, located 6 miles from Agate. We look forward to advancing our working agreement with UR-Energy which should result in shorter lead times and lower costs for developing and operating an in-situ operation at Agate. In addition to exploring Agate, we plan to drill this summer at our Beaver Rim Project in the Gas Hills Uranium District.

About the Agate Property
The Agate property consists of 52 wholly owned lode mining claims covering 1,075 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 55 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first successful in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 15 to approximately 150 feet deep, much of which is below the water table and likely amenable to in-situ recovery.

The Project was previously explored by Kerr-McGee Corporation in the 1970s, which was the largest producer of uranium in the United States, including from their Shirley Basin deposits. Other uranium companies in the basin include Cameco, enCore Energy, UR Energy, and UEC, whose claims border the Agate property. Available Kerr-McGee historical drill results from the Wyoming Geological Survey include drill hole location maps and 330 geophysical logs which have been digitized and reinterpreted for entry into a modern, verifiable database. In 2023, Strathmore completed 100 drill holes on the Project, confirming the historical drill results. The exploratory drilling targeted the Lower "A" sand of the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity, permeability, and groundwater transmissivity.

About Strathmore Plus Uranium Corp.
Strathmore has three permitted uranium projects in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.

Cautionary Statement: "Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release".

Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.

Strathmore Plus Uranium Corp.
Contact Information:
Investor Relations
Telephone: [phone]
Email: [e-mail]

ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Strathmore Plus Uranium Corp.

[Lone Clone]

Standard Uranium Provides Exploration Activities Update on the Canary Project, Eastern Athabasca Basin

https://ca.finance.yahoo.com/news/standard-uranium-provides-exploration-activities-110000854.html

Standard Uranium Ltd.
Mon, April 8, 2024 at 4:00 a.m. PDT·5 min read

STTDF
-4.36%

VANCOUVER, British Columbia, April 08, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide an update on exploration activities planned for the 7,302-hectare Canary Project (“Canary” or “the Project”) currently under a three-year earn-in option agreement (the “Option Agreement”) with Mamba Exploration Limited (“Mamba”). Pursuant to the Option Agreement, Mamba has been granted an option (the “Option”) to earn a 75% interest in the Project by funding $6M in exploration expenditures over three years, with the inaugural drill program planned for spring 2024.

The Company is pleased to announce that planning for the inaugural drill program on the Project is nearing completion with the engagement of key vendors for the planned Spring/Summer exploration program at the Project, situated in the prolific eastern Athabasca Basin.

Highlights:

Key Vendors Secured: The Company has engaged drill and helicopter contractors for the inaugural Spring 2024 drill program slated to begin early-May.

Robust & Shallow Drill Targets: Drill plans comprise helicopter-supported diamond drilling focused on high-priority unconformity-related uranium targets refined by geophysical work completed by the Company in 2022. Ideal unconformity target zones on the Project lie within approximately 200-300 metres below surface.

Fully Funded: Mamba has secured funding for the inaugural drill program at Canary on the east side of the Basin, contributing towards year-one expenditure requirements under the Option Agreement.

“Our exploration thesis and targeting strategy in eastern Athabasca uranium district had been bolstered by the high-quality geophysical surveys and interpretations we have completed in preparation for this inaugural program,” said Sean Hillacre, President & VP Exploration for the Company. “Our technical team and partners at Mamba are excited to begin drilling the robust targets identified on Canary for the first time, exploring for shallow high-grade1 unconformity-related uranium mineralization.”

The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.

“The northeast portion of the eastern Athabasca Basin remains comparatively underexplored in terms of drilling. Immediately to the south of the Project, in the greater well-explored eastern-Athabasca region, the drilling density is roughly 1.7 drill holes per square-km. The Canary project contains two main conductive corridors, yet only contains three historical drill holes, or a drilling density of 0.04 drill holes per square-km,” stated Neil McCallum, Technical Director of Standard Uranium. “I am incredibly enthusiastic to have our inaugural drilling beginning soon, after several years of methodical targeting work.”



Overview of Standard Uranium’s northeastern Athabasca Basin projects, highlighting the Canary Project.

Figure 1. Overview of Standard Uranium’s northeastern Athabasca Basin projects, highlighting the Canary Project.

Inaugural 2024 Drill Program

The Company’s Canary project is situated in the Mudjatik geological domain where several recent discoveries have been made, including IsoEnergy’s Hurricane deposit 11 km directly to the south, and is significantly underexplored relative to adjacent magnetic low/electromagnetic (‘EM’) conductor corridors. Drill targets are being prioritized on the Canary claims based on historic exploration and geophysical surveys completed in 2022 (Figure 2).



Geophysical map and schematic cross-section A-A’ highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the...

Figure 2. Geophysical map and schematic cross-section A-A’ highlighting basement-linked resistivity anomalies identified through the 2022 DC/IP survey on the Canary Project. General drill target areas are circled in red. Local exploration trends and historical drilling are also displayed with first vertical derivative magnetics in the background.

The Company completed a high-resolution ground DC/IP survey on the project in 2022, providing valuable structural and lithological information in the area to identify conductive bodies and potential fault systems. Significant resistivity-low anomalies are present along the northern conductor on the project, potentially representing substantial hydrothermal alteration zones in the sandstone and proximal to basement conductors.

Additionally, legacy GeoTEM data defining the southeastern EM corridor on the project is directly comparable to the response and scale of the GeoTEM conductor which hosts the Roughrider/J-zone uranium deposits futher to the south. Highly anomalous geochemistry and favorable alteration was returned from historical drill hole CRK-137 along the southeastern conductor, providing an exceptional follow-up target. The project is drill-ready with multiple overlapping geophysical anomalies having been identified on the property, coinciding with previously identified conductive corridors and anomalous historical drill results.

The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.

About Standard Uranium (TSX-V: STND)

We find the fuel to power a clean energy future

Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.

Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.

Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.

Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.

Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.

For further information contact:

Jon Bey, Chief Executive Officer, and Chairman

Suite 918, 1030 West Georgia Street

Vancouver, British Columbia, V6E 2Y3

Tel: [phone]
E-mail: [e-mail]

Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.

Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.

The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/9935a4ee-8bd4-46da-8d86-22e3c75b9882

https://www.globenewswire.com/NewsRoom/AttachmentNg/3fc4756e-6448-48d5-b8e0-4f445d0a866b

[Lone Clone]

Oberon Uranium Closes Acquisition of Mineral Claims in Saskatchewan

https://www.newsfilecorp.com/release/204584

April 05, 2024 7:00 PM EDT | Source: Oberon Uranium Corp.

Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - OBERON URANIUM (CSE: OBRN) ("Oberon" or the "Company") is pleased to announce that it has closed its previously announced acquisition of three mineral claims totalling 365 hectares in Saskatchewan, Canada pursuant to a share purchase agreement dated March 28, 2024 (the "SPA") with Carbon Markets Inc. ("Carbon") and the Carbon shareholders (see Oberon's news release dated April 1, 2024 for further details).

Pursuant to the SPA, to acquire all of the issued and outstanding Carbon shares from the Carbon shareholders, Oberon issued an aggregate of 17,600,000 Class A common shares of Oberon (the "Consideration Shares") to the Carbon shareholders. The Consideration Shares were issued in accordance with applicable securities legislation and are subject to a hold period that will expire on August 6, 2024. The transaction is an arms-length transaction and does not constitute a fundamental change or result in a change of control of the Company, within the meaning of the policies of the CSE.

About the Company

Oberon Uranium Corp. is a mineral exploration company with a 100% interest in the past producing Lucky Boy Uranium Property located in Arizona, USA. Oberon also owns a 100% interest in the Fusion Uranium Zone Project located in the Athabasca Region of Saskatchewan, Canada. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at [e-mail].

On Behalf of the Board of Directors
"Lawrence Hay"
President and CEO
Tel: [phone]
Email: [e-mail]

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The CSE has not reviewed, approved or disapproved the contents of this news release.

SOURCE: Oberon Uranium Corp.

[Lone Clone]

Atha Energy Announces Closing of 92 Energy Scheme

https://ca.finance.yahoo.com/news/atha-energy-announces-closing-92-034800923.html

ATHA Energy Corp.
Wed, April 10, 2024 at 8:48 p.m. PDT·8 min read

SASKF
-1.60%

VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSXV: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce the successful completion of the previously announced Australian scheme (the “Scheme”) involving ATHA and 92 Energy Limited (ASX: 92E) (“92 Energy”) pursuant to which ATHA has acquired all of the fully paid ordinary shares in 92 Energy (the “92 Energy Shares”).

SCHEME CONSIDERATION

Pursuant to the Scheme, shareholders of 92 Energy (the “92 Energy Shareholders”) who hold 92 Energy Shares as at 4:00 p.m. (AWST) on April 4, 2024 (the “Record Date”), will receive 0.5834 ATHA common shares (each, an “ATHA Share”) per 92 Energy Share held (the “Scheme Consideration”) (other than ineligible foreign holders and Electing Selling Scheme Participants (as defined below) who made a valid election to participate in the Sale Facility (as defined below) (the “Electing Selling Scheme Participants”)). In the aggregate, ATHA issued 64,101,404 ATHA Shares under the Scheme.

Ineligible foreign holders and Electing Selling Scheme Participants will have the Scheme Consideration that they would have otherwise been entitled to receive issued to a sale agent, who will sell those ATHA Shares at such price and on such other terms as the sale agent determines in good faith, within a reasonable timeframe and in any event not more than 20 trading days (on which ATHA Shares are capable of being traded on the TSX Venture Exchange (the “TSXV”)) after April 11, 2024 (being the implementation date of the Scheme). The sale agent will then pay the total proceeds of those sales of ATHA Shares (after deducting any applicable fees, foreign exchange, stamp duty, brokerage and other selling costs, taxes and charges of the sale agent and after having converted such proceeds into Australian currency) to ATHA (or its agent), who will then remit to each such shareholder their proportion of the aggregate net sale proceeds (in Australian dollars) in accordance with the terms of the Scheme (the “Sale Facility”).

In connection with the closing of the Scheme, trading in 92 Energy Shares on the Australian Securities Exchange (the “ASX”) was suspended at the closing of trading on March 28, 2024. An application has been made to remove 92 Energy from the official list of ASX, which is expected to take effect on and from the close of trade on April 12, 2024.

For additional information on the Scheme, please refer to ATHA’s news releases dated December 7, 2023, and January 25, 2024, March 25, 2024, and March 27, 2024.

Board of Directors and Management

ATHA’s board of directors now consists of six directors, including Mike Castanho (Chair), Doug Engdahl, Sean Kallir, Jeff Barber, Phil Williams, and Richard Pearce.

About ATHA

ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador, hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (8.1 million acres) in two of the world’s most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com. 1,2,3

For more information, please contact:

Troy Boisjoli
Chief Executive Officer
Email: [e-mail]
www.athaenergy.com

Historical Mineral Resource Estimates

All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.

Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:

This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.

Mineral resources which are not mineral reserves do not have demonstrated economic viability.

The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.

Contained value metals may not add due to rounding.

A 0.2% U3O8 cut-off was used.

The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.

The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.

As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.

The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).

A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.

Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:

Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.

3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:

The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.

Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.

A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.

Neither the TSXV nor its Market Regulator (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

None of the securities to be issued pursuant to the Scheme have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Scheme are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to, among other things, ATHA’s ongoing business plan, exploration and work program.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, delisting of 92 Energy Shares from the ASX, administration of the Sale Facility, assumptions regarding expectations and assumptions concerning the Scheme and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and 92 Energy have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of ATHA and 92 Energy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA and 92 Energy, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the TSXV not providing approval to the Scheme and all required matters related thereto; the inability of the consolidated entity to realize the benefits anticipated from the Scheme and the timing to realize such benefits, including the exploration and drilling targets; unanticipated changes in market price for ATHA Shares; changes to ATHA’s and/or 92 Energy’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of each of ATHA and 92 Energy; any impacts of COVID-19 on the business of the consolidated entity and the ability to advance its projects; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca, and filings of 92 Energy with the Australian regulatory authorities. Neither ATHA nor 92 Energy undertake to update any forward-looking information, except in accordance with applicable securities laws.

[Lone Clone]

ATHA Energy Announces 2024 Gemini Project Exploration Program

https://ca.finance.yahoo.com/news/atha-energy-announces-2024-gemini-110000217.html

ATHA Energy Corp.
Thu, April 11, 2024 at 4:00 a.m. PDT·15 min read

SASKF
-1.63%

CCO.TO
-0.55%

GEMINI PROJECT HIGHLIGHTS:

The Gemini Project is located 31 km northeast of Cameco’s Key Lake Mine, along the southeastern margin of the uranium rich Athabasca Basin, and hosts the high-grade uranium Gemini Mineralized Zone (“GMZ”).

GMZ is a shallow (mineralization begins at <60 m depth) basement hosted, high-grade uranium discovery, which remains open at depth and along strike.

GMZ is analogous to uranium mineralization along Cameco’s Rabbit Lake Trend, which produced 203MM lbs of uranium concentrate. Similarities with the Rabbit Lake Trend are demonstrated by:

The visual scale and nature of hydrothermal alteration;

The interpreted structural control on mineralization;

Mineralization hosted within meta-sediments (Hidden Bay assemblage within the upper Wollaston Domain) lithologies with associated alteration halos typical of high-grade uranium deposits within the Athabasca Basin;

Uranium mineralization discovered along parallel conductor within the GMZ Trend and newly identified geophysical targets along strike to the north.

Successive diamond drilling exploration programs at the GMZ, conducted between 2021 through to 2023, are highlighted by high-grade drillhole intersections, such as:

GEM22-025 intersected 43.0 m grading 0.62% U3O8, including 18.0 m grading 1.16% U3O8.

GEM23-061 intersected 5.0 m grading 1.47% U3O8, including 1.5 m grading 4.69% U3O8 and another sub-interval of 9.66% U3O8 over 0.5 m.

2024 GEMINI PROJECT EXPLORATION PROGRAM:

2024 Gemini Project Exploration Program builds upon the work completed by 92 Energy, targeting the GMZ Trend within the Gemini Project area and is comprised of three phases:

Phase I: Geophysics (Currently On-going) – Ground Gravity Survey followed by the deployment of Fleet Space’s Exosphere ANT (Ambient Noise Tomography) System.

Ground Gravity Survey (“GGS”) – (Completed February 2024): 92 Energy completed a comprehensive GGS focused on the GMZ and surrounding area – encompassing prospective parallel conductors. The results of the GGS were received in late March and highlight:

The GGS demonstrates the continuation of alteration associated with the GMZ Discovery to the southwest, within the Gemini Project area.

On parallel conductors, five large-scale gravity anomalies, which are also coincident with EM anomalies and MAG lows were identified – these anomalies are high-priority targets.

Fleet Space’s Exosphere Ambient Noise Tomography (ANT) – (Commenced April 2024): The ANT system is a non-intrusive ground-based geophysical survey system designed to measure naturally occurring seismic vibrations in the earth’s crust caused by wave action, weather, and other anthropogenic activities.

Results of other ANT surveys completed in the Athabasca Basin have been successfully correlated with uranium mineralization and associated alteration of the surrounding rock mass.

The ANT survey results will be gathered and uploaded to Fleet Space’s satellite network in near real-time, with anticipated completion by end of April.

Phase II: Target Development and Diamond Drilling Optimization (Currently Ongoing) – Comprised of two components:

Data Compilation – Results from Phase I Geophysics, along with all data collected during previous exploration programs, and an ongoing SRK Consulting structural study on controls of uranium mineralization at GMZ will be compiled forming a comprehensive data set – producing a detailed 3D Geological model of the GMZ.

Machine Learning and Enhanced Target Selection – 3D Geological model coupled with an internally developed proprietary Machine Learning Process. The process is designed to further de-risk and advance exploration targets at the GMZ and surrounding area prior to commencement of Phase III – Diamond Drilling Exploration.

Phase III: Diamond Drilling (Commencing Mid – Q3, 2024) – The diamond drilling exploration program is comprised of ~8,000 m and focuses on two key objectives:

GMZ Expansion – ~4,000 m allocated to expanding the mineralization footprint immediately adjacent to the GMZ by testing prospective uranium-bearing structures.

GMZ Trend Exploration – ~4,000 m allocated to testing of known regional high-priority targets.

VANCOUVER, British Columbia, April 11, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA” or the “Company”), holder of the largest uranium exploration portfolio in two of the highest-grade uranium districts in the world, is pleased to announce plans for its 2024 Gemini Project Exploration Program. At the 100%-owned Gemini Project located in the Athabasca Basin, Saskatchewan, the Company will deploy a three phased exploration approach. Phases I & II are designed to increase the probability of discovery and optimize capital expenditure during the Company’s Phase III diamond drill program, slated to begin mid Q3, 2024. The 2024 Gemini Project Exploration Program is in addition to the Company’s previously announced 2024 exploration programs at the Angilak Project in Nunavut and regional exploration on nine of its wholly owned high-priority projects within its four Athabasca Basin Exploration Districts (North Rim, Cable Bay, East Rim and West Rim). See March 20th, 2024, news release for more detail. The Company’s full 2024 Exploration Program comprising activities in Nunavut and Saskatchewan represents one of the largest uranium focused exploration programs globally and is the most significant undertaken by ATHA Energy.

EXPLORATION OUTLOOK

The Company’s core objective is discovery and development of its portfolio of uranium focused projects. With the acquisition of Latitude Uranium and 92 Energy, ATHA Energy’s portfolio now totals 8.1 million acres across Canada’s three most prospective jurisdictions for uranium discovery and development. The Company’s portfolio is highly diversified across the exploration risk curve. With projects ranging from development stage like Angilak, which host’s the Lac 50 Deposit – one of the largest, highest grade uranium deposits outside of the Athabasca Basin; post discovery projects like Gemini – which contains GMZ – a recent shallow, basement style, high-grade uranium discovery; through to highly prospective greenfields projects with numerous uranium occurrences and high-priority de-risked geophysical targets. ATHA’s exploration approach is designed to provide maximum exploration exposure by investing at scale in a large number of early-stage projects, derisking those targets, and seeking to deliver advanced exploration upside through the expansion of known uranium deposits and additional discoveries. ATHA intends to leverage its robust cash position to pursue a fully-funded growth strategy.

GEMINI PROJECT – SASKATCHEWAN

With the acquisition of 92 Energy by ATHA Energy, which includes the 100%-owned Gemini Project (Figure 1), the Company’s objective is to build upon the work completed by 92 Energy. The 2024 Gemini Project Exploration Program’s objective is expansion of mineralization at the GMZ and discovery of additional zones of mineralization within the GMZ Trend. The program has three progressive Phases designed to increase the probability of discovery and optimise capital expenditure. Phase I Geophysics will provide additional data needed to identify areas of expansion at GMZ and de-risk regional targets within the GMZ Trend. Phase II Target Development and Diamond Drilling Optimization compiles all available data collected during exploration programs at the Gemini Project. The comprehensive data set will then be used in development of 3D geological model and coupled with machine learning technologies to further enhance and de-risk targets. Phase III Diamond Drilling will target expansion of the mineralized footprint at GMZ and discovery of additional zones of uranium mineralization within the GMZ Trend (Figure 2).



Figure 1: ATHA Energy Land Package and Location of the Gemini Project
Figure 1: ATHA Energy Land Package and Location of the Gemini Project



Figure 2: 2024 Gemini Project Exploration Program Area of Focus

Figure 2: 2024 Gemini Project Exploration Program Area of Focus

Phases I and II are currently ongoing and are anticipated to be finalized by end of Q2, 2024. Phase III is scheduled to commence in mid-Q3, 2024, with preparations already underway. The Company has secured all necessary permits and approvals.

Troy Boisjoli, CEO added: “It’s fitting that the one-year anniversary (April 11th, 2024) of ATHA’s public listing coincides with the beginning of a new chapter for the Company. Over the last year ATHA has achieved many significant milestones, including: amassing the largest portfolio of prospective uranium exploration projects globally, completion of the largest EM survey in the history of the Athabasca Basin, the acquisition of the Latitude Uranium (which includes the Angilak Project, hosting one of the largest high-grade uranium projects outside of the Athabasca Basin), and now the acquisition of 92 Energy (including the Gemini Project). ATHA’s 2024 Exploration Programs focus on development and discovery across its unparalleled portfolio of uranium projects. Our plans for 2024 are designed to execute on the Company’s core objective, to discover and develop Canada’s next generation of uranium assets, under the backdrop of the best emerging uranium market ever.”

Cliff Revering, VP Exploration added: “The addition of 92 Energy’s portfolio, and in particular the Gemini Project and newly discovered GMZ uranium mineralized corridor, brings significant exploration upside to ATHA. The 2024 exploration program on the Gemini Project is designed to build on the previous exploration success by applying industry-leading techniques and technologies to further identify and characterize prospective targets ahead of drilling, maximizing the potential to expand the mineralization footprint within the GMZ mineralized corridor and Gemini Project.”

Hybrid Financial

ATHA Energy is also pleased to announce that it has retained Hybrid Financial Ltd. (“Hybrid”) to provide marketing services to the Company. Hybrid has been engaged to heighten market and brand awareness for ATHA Energy and to broaden the Company's reach within the investment community.

The services to be provided by Hybrid include phone calls to, and email communications with, qualified North American Investment Professionals (the “Services”). Hybrid has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange (the “TSXV”) in providing the Services.

Hybrid has been engaged by the Company for an initial period of six months starting April 11, 2024 (the “Initial Term”) and then shall be renewed automatically for successive three-month periods thereafter, unless terminated by the Company in accordance with the Agreement. Hybrid will be paid a monthly fee of $15,000, plus applicable taxes, during the Initial Term. No securities of ATHA are being granted to Hybrid under the terms of its engagement.

The contact information for Hybrid is Hybrid Financial Ltd, 222 Bay Street, PO Box 37, Suite 2600, Toronto, ON M5K 1B7; Phone: [phone]

NSS Share Issuance

Pursuant to the Athabasca Basin Properties Sale and Purchase Agreement dated September 20, 2022, as amended by an amending letter dated December 6, 2023, between ATHA and The New Saskatchewan Syndicate ("NSS”), ATHA has issued to NSS an aggregate of 5,000,000 ATHA Shares as of the date hereof.

Qualified Person

The scientific and technical information contained in this news release have been reviewed and approved by Cliff Revering, P.Eng., the Vice President, Exploration of ATHA, who is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About ATHA

ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (8.1 million acres) in two of the world’s most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com.1,2,3

About Hybrid Financial

Hybrid Financial connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.

For more information, please contact:

Troy Boisjoli
Chief Executive Officer
Email: [e-mail]
www.athaenergy.com

Historical Mineral Resource Estimates

All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.

Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:

This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.

Mineral resources which are not mineral reserves do not have demonstrated economic viability.

The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.

Contained value metals may not add due to rounding.

A 0.2% U3O8 cut-off was used.

The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.

The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.

As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.

The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).

A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.

Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:

Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.

3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:

The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.

Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.

A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to ATHA’s proposed exploration program, including statements with respect to the expected benefits of ATHA’s proposed exploration program, any results that may be derived from ATHA’s proposed exploration program, the timing, scope, nature, breadth and other information related to ATHA’s proposed exploration program, any results that may be derived from the diversification of ATHA’s portfolio, the successful integration of the businesses of ATHA, Latitude Uranium and 92 Energy, the prospects of ATHA’s projects, including mineral resources estimates and mineralization of each project, the prospects of ATHA’s business plans and any expectations with respect to defining mineral resources or mineral reserves on any of ATHA’s projects, and any expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development or production.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the anticipated benefits of ATHA’s proposed exploration program will be realized, that no additional permit or licenses will be required in connection with ATHA’s exploration programs, the ability of ATHA to complete its exploration activities as currently expected and on the current anticipated timelines, including ATHA’s proposed exploration program, that that ATHA will be able to execute on its current plans, that ATHA’s proposed explorations will yield results as expected, the synergies between ATHA, 92 Energy and Latitude Uranium’s assets, and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and 92E have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current view of ATHA with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA to realize the benefits anticipated from the exploration and drilling targets described herein or elsewhere; in ability of ATHA to complete current exploration plans as presently anticipated or at all; inability for ATHA to economically realize on the benefits, if any, derived from the exploration program; failure to complete business plans as it currently anticipated; overdiversification of ATHA’s portfolio; failure to realize on benefits, if any, of a diversified portfolio; unanticipated changes in market price for ATHA shares; changes to ATHA’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of ATHA; any impacts of COVID-19 on the business of ATHA and the ability to advance the Company projects and its proposed exploration program; risks inherent in mineral exploration including risks related worker safety, weather and other natural occurrences, accidents, availability of personnel and equipment, and other factors; aboriginal title; failure to obtain regulatory and permitting approvals; no known mineral resources/reserves; reliance on key management and other personnel; competition; changes in laws and regulations; uninsurable risks; delays in governmental and other approvals, community relations; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, Australia and other jurisdictions where ATHA conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca. ATHA does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/920c5cd9-4403-49b6-8138-3327bf700474

https://www.globenewswire.com/NewsRoom/AttachmentNg/de492ff5-ced5-4128-ab0b-4bd98600933d

[Lone Clone]

Atco Mining Intersects Anomalous Radioactivity, Prospective Structure and Alteration in Multiple Drill Holes at Atlantic Project; Concludes Inaugurul Drill Program; Closes Final Tranche of Private Placement

https://thenewswire.com/press-releases/1BKRFj9PY-atco-mining-intersects-anomalous-radioactivity-prospective-structure-and-alteration-in-multiple-drill-holes-at-atlantic-project-concludes-inaugurul-drill-program-closes-final-tranche-of-private-placement.html

Vancouver, British Columbia, April 11th, 2024 – TheNewswire — Atco Mining Inc. (“Atco” or the “Company”) (CSE: ATCM) (US: ATMGF) (Frankfurt: QP9)

[Lone Clone]

Record Acquires Option on Large Uranium Land Package

Exploration Planned For the Malborne Uranium Project

https://www.newsfilecorp.com/release/204804

April 09, 2024 8:27 AM EDT | Source: Record Resources Inc. Calgary, Alberta--(Newsfile Corp. - April 9, 2024) - Record Resources Inc. (TSXV: REC) reports it has acquired an option on a large package of uranium claims northeast of Thunder Bay, Ontario, Canada.

The option covers a large area known as the Malborne property and is owned by privately-held exploration companies, 2758145 (Ontario) Inc and 1170331 BC Ltd. (the optionor). The land package consists of 780 claims stretching over 16,320 hectares (163 square kilometres) and is located 110 kilometres northeast of Thunder Bay, Ontario.

"The rocks in this land package, the Malborne claims, have the potential to be as prospective for uranium mineralization akin to the rocks in the Athabasca basin in Saskatchewan," said Record Resources CEO, Michael Judson. "Ontario is known for its uranium deposits and produced more than 400 million pounds of uranium oxide between 1955 and 1996."

"There hasn't been a lot been a lot of uranium exploration in Ontario in the last thirty years due to low prices," Judson said. "Historical exploration focused on looking for uranium in plutons, pegmatites and the iron formations. We think that this is the wrong approach to targeting economic uranium deposits. We have a new exploration strategy that will be revealed in time."

Ontario Geological Survey (OGS) geologist, JF Scott, in a 1987 report (open file report 5634) concluded that there are structural and lithological similarities between rock units found in the Quetico Belt in Ontario and in the Wollaston belt in the Athabasca basin, Saskatchewan. The major uranium deposits occur in the Wollaston formation and underlies the Basin sedimentary rock.

The most recent exploration drilling done in the Malborne area was by RPT Resources Corp in the Frazer Creek area. RPT intersected 1.20% U308 over 3.2 metres, 1.9% U308 over 0.30 and 0.56% U308 over 0.3 metres. (Bowdidge, C. 2006, AFRO 2.3194).

RPT Uranium Corp also reported trench samples from Frazer Creek that assayed 4,385 ppm U308, 252 ppm U308, 14,862 ppm U308, 4,016 ppm U308, 6,422 ppm U308, 2,755 ppm U308, 2,853 ppm U308, 5,995 ppm U3O8 (source: Dawn-Ann Metsaranta for RPT Uranium (2007).

JF Scott, from the OGS, reported radioactive vein sets including an assay of 3.9% U308 at Black Sturgeon Lake and grab samples that assayed 800 ppm uranium, 100 ppm niobium and 60 ppm cobalt. In 2008, drilling by RPT Uranium Corp on this property drilled intersections ranging from 0.11% to 4.68% U308 over intervals of less than one metre (source: Metsaranta, Dawn-Ann, 2008, AFTO2.37448).

At the Lake Helen area (in the new claim block) pegmatite dikes of up to 30 metres wide, some stained yellow with uranophane, were noted in a report the OGS's BR Schnieders et al (open file report 6148, 2005). As well, Scott reported grab samples assaying up to 420 ppm uranium and 290 ppm thorium from the Jessie Lake area (also part of the Malborne claims).

As previously reported in the company's December 19, 2023 news release, Record Resources also optioned the Malborne Lake uranium property (part of the new claim block). The Ontario Government Survey (OGS) has reported finding at Malborne Lake a narrow, high-grade, mineralized fracture containing pitchblende (uranininte) as well as secondary yellow uranium minerals, which is probably uranophane. (Therese Pettrigrew, April 21, 2022 OGS assessment report number 52H07SW0001).

Exploration in this area has been cyclic with numerous short-periods between 1947 to 1983. Since 2004, as the uranium deposit models from the Athabasca Basin become better understood, there is renewed interest in the uranium potential of the Nipigon-Sibley Basin (Schnieders B.R. et al 2005).


Malborne Uranium Project, Ontario

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1769/204804_8335d05664114ae2_001full.jpg

Terms of Agreement:
Record Resources can own 100 percent of the claims by paying $300,000 at closing on or before May 31, 2024 and by issuing a total of 6.9 million shares in instalments over a two-year period. Three million of the total 6.9 million shares are payable at closing. An additional two million shares is payable on May 31, 2025. A last payment of 1.9 million shares is payable on May 31, 2026. The shares to be issued as part of this agreement are valued at $0.035 per share. No finders fee was paid. This transaction is expected to close on or before May 31, 2024. This arms length agreement was signed on April 1, 2024. This transaction is subject to TSX Venture Exchange, regulatory and board approvals.

Qualified Person:
Edward Procyshyn, P.Geo, a qualified person in accordance with National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

For more information please contact:
Michael C. Judson, Chairman & CEO
Record Resources Inc.
T. [phone]

Website: www.recordresourcesinc.com

Cautionary Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes", an or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would" , "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: approval of the Private Placement and obtaining a full revocation order. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to: the market acceptance of the Private Placement; the ability of the Company to obtain a full revocation order and the receipt of all required approvals in connection with the foregoing. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market price for securities; and the delay or failure to receive board, shareholder, court or regulatory approvals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law the Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The Units and the securities comprising the Units have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in the Unites States, or any other jurisdiction, in which such offer, solicitation or sale would be unlawful.

Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.

SOURCE: Record Resources Inc.

[Lone Clone]

Nevada Exploration Closes Property Acquisition

https://ca.finance.yahoo.com/news/nevada-exploration-closes-property-acquisition-130000056.html

Nevada Exploration Inc.
Wed, April 10, 2024 at 6:00 a.m. PDT·1 min read

NVDEF
-1.98%

VANCOUVER, British Columbia, April 10, 2024 (GLOBE NEWSWIRE) -- Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) is pleased to announce that it has closed the acquisition of 35,467 hectares of mineral claims in Saskatchewan.

A 100% ownership of the claims was purchased by Nevada Exploration Inc. for total consideration of CAD$40,000 with no further financial commitment to the Vendor. The Vendor does not retain any interest or royalty in the property.

The claims are located on the Southeastern margin of the Athabasca Basin as one contiguous block.

About Nevada Exploration Inc.

NGE has for the past several years been applying modern technology to systematically explore for the undiscovered second half of Nevada’s gold endowment waiting to be uncovered within Nevada’s valley basins. The Company is examining other opportunities in its quest to create shareholder value.

Website: www.nevadaexploration.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary statement regarding forward-looking information

Certain disclosures in this release constitute "forward-looking information" within the meaning of Canadian securities legislation (such statements being referred to as "forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, and the Company's inability to raise the necessary capital or to be fully able to implement its business strategies. The reader is referred to the Company's public disclosure record which is available on SEDAR+ (sedarplus.ca). Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the TSX Venture Exchange, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

CONTACT: For further information, please contact: Nevada Exploration Inc. Email: [e-mail] Telephone: [phone]

[Lone Clone]

Aero Reports on Recent Exploration Insights for the Murmac Uranium Project

Upside Highlighted by Proven High-Grade Uranium Endowment

https://www.newsfilecorp.com/release/204775

April 09, 2024 7:05 AM EDT | Source: Aero Energy Ltd.

Vancouver, British Columbia--(Newsfile Corp. - April 9, 2024) - Aero Energy Ltd (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3)

[Lone Clone]

Fission Announces New Exploration and Resource Drill Programs at PLS High-Grade Uranium Project

https://www.newswire.ca/news-releases/fission-announces-new-exploration-and-resource-drill-programs-at-pls-high-grade-uranium-project-899634556.html

Fission Uranium Corp. Apr 08, 2024, 03:00 ET

[e-mail]
www.fissionuranium.com

TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU

Regional exploration and R1515W zone drilling to carried out concurrently

KELOWNA, BC, April 8, 2024 /CNW/ - FISSION URANIUM CORP. ("Fission" or the "Company") is pleased to announce that preparations are underway for a two-prong drill program at its award-winning PLS high-grade uranium project in Canada's Athabasca Basin with concurrent regional exploration as well as deposit upgrading. A 15-hole (~6,650m) regional drill program will follow up on the highest priority target areas identified during the recent winter exploration program (see NR Mar 25, 2024). Additionally, a 19-hole (~5,830m) program will focus on in-fill drilling the R1515W high-grade zone with the primary goal of upgrading the resource classification of the majority of the zone's Inferred Resources to Indicated for inclusion of the R1515W in the current mine plan. Drilling is expected to commence in early May.








Patterson Lake South 2024 Summer Proposed Diamond Drill Program (CNW Group/Fission Uranium Corp.)





Ross McElroy, President, and CEO for Fission, commented, "We have two concurrent drill programs at PLS commencing next month. The first will be further regional exploration following up on our very encouraging winter drill results which identified four particularly high priority areas. The second program will focus on upgrading sections of the R1515W high-grade zone with the goal bringing it into the Triple R mine plan and schedule. By doing so, we have the clear potential to further increase our mine reserves and mine life."




Regional Exploration Target Area and Drill Program Details
Saloon Target (5 holes). Located 4.8 km southwest of Triple R, a minimum of five drillholes will continue to test a parallel shear zone to that which hosts the Triple R deposit. The winter program tested 2 holes at Saloon (PLS24-638 and PLS24-641). Both holes hit anomalous radioactivity in strongly altered (clay, chlorite, hematite, graphite, silica) structural deformation zones. Anomalous radioactivity and alteration at Saloon has now been identified over 50m in the down-dip direction and 220m along strike, suggesting a major hydrothermal fluid pathway which contains uranium mineralization. The Saloon shear zone is on trend to the west with the recent high-grade "PCE" discovery (hole RK-24-183) reported at NexGen's SW2 property. The Saloon shear zone target is considered to have excellent exploration potential.

Pistol Target (4 holes). Drilling at the Pistol target area, 350m north of the R780E zone, will follow up on a series of stacked graphitic shear zones, wet rock style alteration, rose quartz and dravite intersected in winter 2024 drilling. These geologic features are interpreted to have a close spatial relationship with uranium mineralization at NexGen's Arrow deposit to the northeast and have not been identified at the Pistol target area in previous drilling.

East Extension Target (3 holes). The target area lies 1 km east of the R1620E zone. The aim is to extend the zone of anomalous radioactivity cored in all seven winter 2024 drillholes at this target area. The graphitic shear zone which hosts the radioactivity at East Extension is interpreted to be the eastern continuation of the mineralized corridor that hosts all of the Triple R pods, and represents the only radioactivity intersected by Fission east of the R1620E zone to date.

Saddle Target Area (3 holes). Situated 3.7 km west of the R1515W zone. Drilling will follow up on encouraging geology intersected in PLS24-649, including silicified hanging wall, underlain by a thick sequence of graphite, chlorite, clay and hematite altered gneissic rocks, which is interpreted to be equivalent to the Triple R host rocks, coincident with prospective geophysical features.

R1515W Zone and Drill Program Details
Drilling at the R1515W zone will consist of 19 drillholes totaling 5,830m. The R1515W zone contains an Indicated Resource of 67,000 tonnes at an average grade of 1.15% U3O8 totaling 1.7 million lb U3O8 and an Inferred Resource of 234,000 tonnes at an average grade of 0.96% U3O8 totaling 5 million lb. U3O8, using a cutoff grade of 0.25% U3O8. The objective of R1515W drilling will be to convert areas of the R1515W zone currently classified as Inferred Resources to Indicated Resources through closely spaced drilling, potentially allowing it to be brought into the current mine plan. Planned drillhole pierce point spacing at the R1515W zone to upgrade the resource classification will be approximately 25m by 15m, grid north-south by grid east-west, respectively. Additionally, critical geotechnical and hydrogeological information will be collected at the R1515W zone, to be used in the assessment of viability of inclusion in the overall PLS project mine plan and schedule.

Map 1: Patterson Lake South 2024 Summer Proposed Diamond Drill Program

PLS Mineralized Trend & Triple R Deposit Summary
Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18 km of east-west strike length in five separated mineralized "zones", which collectively make up the Triple R deposit. From west to east, these zones are R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near-surface, basement-hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on November 05, 2012, with drill hole PLS12-022 from what is now referred to as the R00E zone.

The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55m to 100m. R1515W is the westernmost of the zones and is drill defined to ~90m in strike length, ~68m across strike and ~220m vertical and where mineralization remains open in several directions. R840W is located ~515m to the east along the strike of R1515W and has a drill-defined strike length of ~430m. R00E is located ~485m to the east along strike of R840W and is drill defined to ~115m in strike length. The R780E and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake, where water depth is generally less than six metres, and overburden thickness is generally about 50m. R780E is located ~225m to the east of R00E and has a drill-defined strike length of ~945m. R1620E is located ~210m along strike to the east of R780E and is drill defined to ~185m in strike length.

Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.

Patterson Lake South Property
The 31,039-hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine.

Qualified Persons
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geo., President and CEO for Fission Uranium Corp., a qualified person.

About Fission Uranium Corp.
Fission Uranium Corp. is an award-winning Canadian uranium project developer and 100% owner of the Patterson Lake South uranium property – a proposed high-grade uranium mine and mill in Canada's Athabasca Basin region. Fission's common shares are listed on the TSX Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF" and on the Frankfurt Stock Exchange under the symbol 2FU.

ON BEHALF OF THE BOARD

"Ross McElroy"
______________________________
Ross McElroy, President and CEO

www.fissionuranium.com

Cautionary Statement:
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of the Company which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Fission Uranium Corp.

For further information: Investor Relations: TF: 877-868-8140, [e-mail]

[Lone Clone]

Searchlight Resources Stakes in the Athabasca Basin

https://www.newsfilecorp.com/release/204037

April 03, 2024 7:00 AM EDT | Source: Searchlight Resources Inc.

New Staking in Eastern Athabasca Basin
2 new claims covering 43.5 sq km.

Vancouver, British Columbia--(Newsfile Corp. - April 3, 2024) - Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) ("Searchlight" or the "Company") is pleased to announce the staking of two mineral claims in the Eastern Athabasca Basin in Northern Saskatchewan.

During the recent Saskatchewan claim reopening, Searchlight staked two claims totaling 43.5 square kilometres within the Athabasca Basin which hosts the highest-grade operating Uranium mines in the world. The Company staked claim MC00018586 covering 1,878.5 hectares located approximately 12 km west of Highway 905, and claim MC00018618 covering 2,468.8 hectares located approximately 2 km east of Highway 905. Searchlight will soon begin the detailed geological evaluation of these claims, and will plan for future exploration. See Map 1.

"These claims fit Searchlight exploration strategy of generating new critical element projects by staking," stated Stephen Wallace, P.Geo, President and CEO of Searchlight.

These claims are now part of the Searchlight's uranium project portfolio which includes the Duddridge Lake Uranium Deposit with a historic 43-101 inferred resource estimate of 227,880 tonnes, and a grade of 2.14 lbs/tonne U3O8 (Fission Energy Corp, 2007). The Duddridge project is accessible by an all-season gravel road (Highway 910) to within 10 km of the deposit, with direct access by winter road and ATV trail in summer. Additionally, Fission sampled 39 boulders in the deposit area with results up to 1.91% uranium and 0.69% copper, plus 0.14% cobalt and 0.55% vanadium.



Map 1. Claims MC00018586 and MC00018618

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9828/204037_5583fa6d54bfa8c3_002full.jpg

Qualified Person

Stephen Wallace, P.Geo., is Searchlight's Qualified Person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this news release.

About Searchlight Resources - Where the Critical Elements Supply Chain Begins

Searchlight Resources Inc. (TSXV: SCLT) (OTCQB: SCLTF) is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. The Company's exploration model of Project Generation coupled with Targeted Exploration, focuses on battery minerals and gold throughout the province.

On behalf of the Board of Directors,
"Stephen Wallace"
Stephen Wallace, President, CEO and Director

SEARCHLIGHT RESOURCES INC.

For further information, visit the Company's website at www.searchlightresources.com or contact:
Searchlight Resources Inc.
Alf Stewart, VP Corporate Development
[phone]
[e-mail]

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

SOURCE: Searchlight Resources Inc.

[Lone Clone]

Terra Balcanica Executes Letter of Intent For Option Agreement To Acquire 100% Interest In Advanced Saskatchewan Uranium Portfolio

https://ca.finance.yahoo.com/news/terra-balcanica-executes-letter-intent-120000624.html

Terra Balcanica Resources Corp.
Wed, April 3, 2024 at 5:00 a.m. PDT·5 min read

UB1.F
+8.93%

TERA.CN
0.00%

Vancouver, British Columbia, April 03, 2024 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1), a multi-jurisdictional exploration company focused on supporting the global transition to clean energy, is pleased to announce that it has entered into a non-binding Letter of Intent (the “Agreement”) with a wholly owned subsidiary of Fulcrum Metals Plc., (“Fulcrum”, AIM:FMET). Pursuant to the Agreement, Terra will have an option (the “Option Agreement”) to acquire a 100% interest in Fulcrum’s Charlot-Neely, Fontaine Lake, Snowbird and South Pendleton uranium licences (the “Licences”) located in northern Saskatchewan, Canada and collectively encompassing 596.71 km2 of highly prospective ground for a uranium discovery.

Highlights

Proximal to northern and southeastern edges of the Athabasca Basin (“Basin”) in northern Saskatchewan, a premium mining district and leading global source of high-grade uranium;

Charlot-Neely is located within the emerging Uranium City district on the northwestern margin of the Basin

Historical work at the projects has demonstrated evidence of uranium mineralization along favourable structural trends with prospective target horizons based on electromagnetic conductors;

Future exploration requires the undertaking of a modern systematic geologic fieldwork to determine the uranium potential.

Terra Balcanica CEO, Dr. Aleksandar Miškovic, commented: “In our pursuit of high-quality assets worldwide, Terra Balcanica has secured an option to acquire a Canadian uranium portfolio covering close to 600 km2 with tremendous potential for discovery. In a world transitioning to green energy solutions, the acquisition of these assets provides a more robust and diverse exploration portfolio for Terra. Although there has been an increase in activity in the uranium sector, we are at the early stages of a commodity super-cycle and being able to acquire such a large, advanced uranium portfolio on favourable terms was a clear opportunity for our shareholders. It is the right time, jurisdiction, and commodity to augment our advanced Balkan portfolio and to further participate in the changing energy landscape. We look forward to working with Fulcrum to apply their technical and jurisdictional expertise to advance these Saskatchewan uranium projects, and we are excited by the addition of a strategic commodity to Terra’s existing polymetallic portfolio.”

Portfolio Overview and Discovery Opportunity

The licence portfolio totals 596.71 km2 targeting major NE-SW trending structures along strike from historic uranium mines and projects that have attracted significant investment. Discoveries such as the Arrow (4.3Mt at 0.83% U3O8; https://www.nexgenenergy.ca/exploration/overview) and Triple R (2.7Mt at 1.94% U3O8 https://fissionuranium.com/projects/triple-r-deposit/project-overview/) have proved the concept of exploring along structures outside of the Athabasca basin.





Figure 1. Regional map of northern Saskatchewan, Canada which is one of the world's leading sources of high-grade uranium and supplies about 20% of the world's uranium. The blue symbols illustrate locations of the four optioned exploration properties totalling 596 km2 in the context of the world-famous Athabasca Basin, a Paleoproterozoic siliciclastic depo-centre (click here to view image).

Key Terms of Agreement

On closing of the transaction, Terra will have a four-year option to acquire 100% of Fulcrum’s owned uranium licences.

In consideration for the four-year option and at the time a definitive agreement is announced by way of news release and subject to a CSE approval, Terra shall pay Fulcrum C$7,500 for exclusivity on execution of signing of the Letter and pay Fulcrum C$25,000 less the C$7,500 exclusivity payment on execution of closing of the Option Agreement.

Additionally, Terra shall pay Fulcrum cash according to the schedule below:

C$50,000 on the first anniversary of closing of the Option Agreement;

C$75,000 on the second anniversary of closing of the Option Agreement;

C$75,000 on the third anniversary of closing of the Option Agreement;

C$75,000 on the fourth anniversary of closing of the Option Agreement;

and issue Fulcrum shares of TERA at the 10-Day Volume Weighted Average Price (“VWAP”) prior to the date of issuance as per the following schedule:

C$250,000 on closing of the Option Agreement with the initial share payments capped at C$0.065/share, pre-consolidation;

C$350,000 on the first anniversary of closing of the Option Agreement;

C$500,000 on the second anniversary of closing of the Option Agreement;

C$650,000 on the third anniversary of closing of the Option Agreement;

C$1,250,000 on the fourth anniversary of closing of the Option Agreement;

Terra will also complete minimum work expenditures totalling $3,250,000 prior to the fourth anniversary of the Option Agreement and grant Fulcrum a 1.0% Net Smelter Return (“NSR”) on all claims with buydown option of 0.5% NSR for C$1,000,000.

As part of the Option Agreement and for terminating the existing prior agreement (the “Prior Agreement”) between Fulcrum and Global Energy Metals Corp. (“Global Energy”), Global Energy will be compensated with C$150,000 in shares in TERA on closing of the Option Agreement and a 0.5% NSR on all claims.

The transaction contemplated above is an “Arms’ Length” in accordance with applicable securities legislation. The CSE has not passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Restructuring Board of Directors

Mr. Steven Latimer, ICD.D, CFA, MBA, has stepped down as a director of the Company to focus on his other business interests but he will continue to act as a Strategic Advisor to the Company. Giulio T. Bonifacio, Terra’s Non-Executive Chairman of the Board commented: “We are very thankful for Steve’s involvement to date while looking forward to his future role and contributions as key strategic advisor and shareholder of the Company.”

Qualified Person

Dr. Aleksandar Miškovic, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). Dr. Miškovic has reviewed and validated the information contained in this news release as factual and accurate.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.

“Aleksandar Miškovic”

Aleksandar Miškovic
President and CEO

For the complete information on this news release, please contact Aleksandar Miškovic at amiskovic @pratt, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Greenridge Exploration Provides Technical Review of its Nut Lake Uranium Project in Thelon Basin, Nunavut

https://ca.finance.yahoo.com/news/greenridge-exploration-provides-technical-review-120000536.html

Greenridge Exploration Inc.
Thu, April 4, 2024 at 5:00 a.m. PDT·9 min read

HW3.F
+0.93%

GXP.CN
+2.56%

VANCOUVER, British Columbia, April 04, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3), is pleased to announce it has undertaken a detailed technical review of the Nut Lake Uranium Project (the “Nut Lake Property” or the “Project”) located in the Thelon Basin in Nunavut. The Project covers approximately 4,036 hectares near the Northern Tip of the Yathkyed Basin, a sub-basin of the Thelon Basin (Please see Figure 1).

Russell Starr, Chief Executive Officer of the Company, commented, “We continue to unveil more exciting geological information at the Nut Lake Uranium Project. The Thelon Basin and sub basins are extremely underexplored compared to the world renowned Athabasca Basin just to the south. With a sound database of historical work, including both high grade surface sampling and near surface drilling, it is giving us a clear route to build upon the historical success using new technology and expanding on our deposit model.”

Historical Showings, Geology & Various Surveys Completed at The Nut Lake Property



Greenridge Exploration Inc.

Figure 1 – Localized Nut Lake Property Geology Map. Source GSC Open File 4236. Abbreviations: PDs – Proterozoic Dubawnt Sediments, Agn / Ar-gn – Archean granitic rocks, Pt-g – Undivided Granites

Historical Showing Highlights

Historical exploration undertaken by Pan Ocean in 1979 conducted over the large regional grid resulted in the discovery of four prospects/showings on the Nut Lake Property (Please see Figure 1).

Tundra Showing

Discovered in July 1977 and named the Tundra showing due to its proximity to a syenite U3O8 anomaly on the lakeshore.

Hole Winkie AX W-24 intersected 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth¹.

Drilling extended the depth of mineralization to 20 feet vertically below the surface.

The structure appears to steepen with depth to about 80-85°.

A total of 17 holes amounting to 568 ft. of drilling were completed.

Heartbreak and Lakeshore Showings

The Heartbreak showing uncovered two pitchblende fractures in an area where a swarm of biotite trachyte occurs, 200 meters to the east-southeast of the Tundra showing.

The most noteworthy samples were from the Heartbreak showing which returned samples across a 3.0” and 3.5” fracture that assayed 2.11% U3O8 and 4.36% U3O8 respectively.

Fracture descriptions and assay results indicate significant mineralization potential.

Frost heave on the surface suggests a potential strike length for the fractures.

Lake Showing

Two noteworthy grab samples yielded 0.32% and 0.15% U3O8.

The Lake showing was located through general prospecting and is situated beside a biotite feldspar trachyte dike.

It comprises numerous anomalous fractures containing chloritic mafic alterations, sulphides, hematite, and uranium mineralization.

Some fractures cut across the felsic to mafic gneiss host rock, while others run subparallel to it.

This suggests that the mineralization and alteration may be controlled by fractures, with a foliation influence. It is likely that some of these fractures extend into the water.

Geology of The Nut Lake Project

Regionally, the Project lies along the eastern edge of the northeasterly trending wedge of Paleohelikian or Late Aphebian Dubawnt Group rocks and the contact with Archean basement gneisses. These units are in fault contact along a northerly trending fault zone. Dubawnt Group rocks within the area are basal sedimentary rocks of the South Channel Formation, composed of white quartzites and pink to grey arkose and arkosic rocks. The sedimentary sequences of the lower Dubawnt Group are overlain by volcanic rocks of the Christopher Island Formation, including trachytic lithic and crystal tuffs and mafic to felsic trachyte flows.

Archean gneisses are generally granitic to granodioritic in composition, with thin inter-layered bands of paragneiss or amphibolite. Syenites within the area are predominantly red, aphanitic, microsyenite, with some hornblende syenite locally. Microsyenite dikes intrude all other rock types along a northerly trend, exhibiting varying degrees of brecciation, especially near fault zones. These rocks contain variable amounts of magnetite, chlorite, disseminated hematite, and pyrite, with accessory zircon noted. The microsyenites are the most radioactive rocks in the area, containing an average of 100 ppm U, with uranium believed to be bound up in refractory minerals¹ (Please see Figure 1).

Surveys Completed at the Nut Lake Project

An abundance of both Government and industry geological / geophysical / hyperspectral surveys have been conducted over the Project area including: a regional residual magnetic geophysical survey conducted by the Geological Survey of Canada in 20113; a property scale VLF-EM and Magnetometer survey carried out by Pan Ocean in 1979¹; and a hyperspectral survey carried out in 2023 by the vendors of the Project.

Lines for the 1979 geophysical surveys were spaced 100m apart with 24m to 50m station intervals.

VLF-EM Survey

Several interesting anomalies resulted from the survey including a pattern indicating a north-northwesterly trending structure of interest.

Anomalies are likely related to a fault zone, continuous with a VLF-EM anomaly.

A major anomaly was identified from “L14W to L2S and 14E to 19E”. This anomaly is not known to be related to any specific feature and should be followed up on.

Identification of north trending anomalies which may be related to structural or lithological features.

Magnetometer Survey

Magnetic anomalies show less distinct north to northwesterly trends compared to VLF-EM map.

Anomalies in northwest section related to syenitic intrusive rocks.

Irregular pattern in this area possibly due to close-spaced dikes and lenses of mafic gneiss.

A gravity survey is recommended to pair with both surveys moving forward.





Greenridge Exploration Inc.

Figure 2 - Regional Magnetics showing a strong NE-SW trending Fault3

Hyperspectral Survey

Helium is a decay product of Uranium and is an exploration vector for buried uranium deposits. Helium is released as a “daughter” product of radioactive decay as uranium breaks down into other elements. As helium is a very light element it migrates through the overburden and into the atmosphere. Where the release of helium is concentrated enough, it will have a spectral signature in specific wavelengths that can be seen by satellite sensors. These are in the Visible-Near Infra-Red (VNIR) and Short Wave Infra-Red (SWIR) wavelengths parts of the spectrum. The Sentinel-2 satellite data contains spectral bands which can be processed to identify areas with an anomalous helium spectral signature. A stronger spectral signature in the helium wavelength could be due to a buried radioactive source (Please see Figure 3).

The survey identified 2 clusters with anomalous spectral responses that are coincident with a northeast-trending structure identified by geophysical surveys.

These two target areas have not historically seen extensive exploration, and therefore warrant ground truthing to explain the helium response.





Greenridge Exploration Inc.

Figure 3 - Hyperspectral Survey

About The Nut Lake Property

The Project is located approximately 55km north of the Angulak Uranium Deposit² or 180Km southwest of Baker Lake, Nunavut in the Yathkyed Basin (a sub-basin of the prolific Thelon Basin) in Nunavut Territory, Canada. The Project consists of three contiguous mineral licences encompassing a total land area of approximately 4,036 hectares (~40km²).

In 1979, Pan Ocean Oil Ltd. performed an exploration program consisting of ground geophysics, geological mapping, prospecting and Winkie drilling as follow up to previous sampling with elevated uranium in dyke swarms, fractures and contacts between syenites and trachytes. The geology of the Project area consists of basal sedimentary rocks of the South Channel Formation, composed of white quartzites and pink to grey arkose and arkosic rocks. The sedimentary sequences of the lower Dubawnt Group are unconformably or disconformably overlain by volcanic rocks of the Christopher Island Formation.

The Project hosts high grade vein hosted grab samples of up to 4.36% U3O8, 53.16 oz/t Ag, 1.15% Pb and 7.0% Ni¹.

During the 1979 field season, geological mapping at a scale of 1:1,000 was completed on a major portion of the Project. This was concurrent with prospecting on, and in the immediate area of the Project. Results from prospecting were the discovery of two (41 m wide) syenite dikes and a frost heaved area of felsic gneiss with up to 3,000 cps on fracture surfaces. Two significant Uranium bearing showings were discovered, the “Lake Showing” and the “Heartbreak Showing”. The most noteworthy was the Heartbreak showing which revealed 3.0” and 3.5” samples across a fracture that assayed 2.11% U3O8 and 4.36% U3O8 respectively. The results were followed up with a radon gal survey, a VLF-EM survey and an overburden sampling program. The radon survey results showed that the response is irregular with several good highs and the VLF-EM survey showed a series of northwesterly trending anomalies. It was concluded that further drilling of the Lake Showing is recommended.

The Project and surrounding proximal area have seen approximately 805ft of Winkie Drilling and 6920ft of diamond drilling completed on it. Multiple holes intersected significant uranium mineralization, with the most noteworthy being at the “Tundra Showing” Hole Winkie AX W-24 intersected 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth¹. Additional noteworthy holes were hole P049 which returned approximately 0.20% U3O8 over a one-foot interval and hole 068 which was Drilled to intersect fracture mineralization and successfully encountered approximately 0.59% over 1 foot. (Pan Ocean Oil Ltd., 1979 Assessment Report #81075).

The combination of historically defined anomalies and modern exploration techniques provides prime ingredients for the potential of discovering a high-grade uranium system within the Project area. The Nut Lake Property has the potential to host unconformity vein and breccia type, sygenentic and sandstone-hosted phosphatic type mineralization.

References

1Source: 1978 Assessment report (number 81075) by Pan Ocean Oil Ltd
2Source: Reported by ValOre Metals Corp. in a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geo. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013. Note: The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).
3Source: Tschirhart, V. L., Morris, W. A. & Oneschuk, D. (2011). Geophysical series, geophysical compilation project, Thelon Basin, Nunavut, NTS 66A, B, and parts of 65N, O, P, 66C, F, G and H. Geological Survey of Canada, Open File, 6944, https://doi.org/10.4095/288806.
4Source: Wilkinson, L. & Brown, N. (2000). Selected geoscience data from the Western Churchill NATMAP Project, Kivalliq Region, Nunavut - Volume II. Geological Survey of Canada, Open File, 3749, https://doi.org/10.4095/211855.

National Instrument 43-101 Disclosure

Nicholas Rodway, P. Geo, (NAPEG Licence # L5576) is a qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this release.

About Greenridge Exploration Inc.

Greenridge Exploration Inc. (CSE: GXP | FRA: HW3) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in North America. The Company’s Nut Lake Uranium Project located in the Thelon Basin includes historical drilling which intersected up to 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth¹. Additionally, the Company’s Weyman Copper Project in southeast British Columbia sits on the south portion of the famous Quesnel Terrance. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects.

On Behalf of the Board of Directors

Russell Starr
Chief Executive Officer, Director
Telephone: [phone]
Email: [e-mail]

Disclaimer for Forward-Looking Information

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; and the Company's anticipated exploration program at the Project. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.

The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/bdf3181c-fde3-418c-aa13-f6a65418acf2https://www.globenewswire.com/NewsRoom/AttachmentNg/5beffd94-303b-4074-bbf6-a18fc0793b5fhttps://www.globenewswire.com/NewsRoom/AttachmentNg/571bbdc4-e39c-4c01-9c0b-ff0377361aaa

[Lone Clone]

Purepoint Uranium Discovers New Lightning Zone Grading 0.29% U3O8 over 0.9 Metres as It Completes 2024 Winter Drill Program at Hook Lake Joint Venture

https://www.newsfilecorp.com/release/204190

April 04, 2024 6:30 AM EDT | Source: Purepoint Uranium Group Inc.

Toronto, Ontario--(Newsfile Corp. - April 4, 2024) - Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF

[Lone Clone]

Standard Uranium Provides Exploration Activities Update on the Sun Dog Project, Northwestern Athabasca Basin

https://ca.finance.yahoo.com/news/standard-uranium-provides-exploration-activities-120000597.html

Standard Uranium Ltd.
Wed, April 3, 2024 at 5:00 a.m. PDT·5 min read

STTDF
-3.54%

AAUGF
-17.73%

VANCOUVER, British Columbia, April 03, 2024 (GLOBE NEWSWIRE) -- Standard Uranium Ltd. (“Standard Uranium” or the “Company”) (TSX-V: STND) (OTCQB: STTDF) (Frankfurt: FWB:9SU) is pleased to provide an update on exploration activities on the 19,604-hectare Sun Dog Project (“Sun Dog” or “the Project”), currently under a three-year earn-in option agreement with Aero Energy Ltd. (“Aero”) (TSX-V: AERO).

The Company is pleased to confirm the start of an airborne VTEM™ (Versatile Time-Domain Electromagnetic) Plus survey aimed at detecting structural corridors of electrically conductive graphite-rich rocks that are the favoured targets for large basement-hosted uranium deposits (As announced by Aero Energy on March 26th, 2024). The survey is being carried out by Geotech Ltd. of Aurora, Ontario.

Additionally, the Company is pleased to announce the engagement of drilling contractor Team Drilling LP of Saskatoon, SK for the planned Spring/Summer exploration program at the Project, situated on the northern rim of the Athabasca Basin.

Highlights:

Expansive and Detailed Survey: The survey will cover the entirety of the Sun Dog project and consist of 3,350 km of flight lines in a grid pattern with 100 m spacing between each flight line. This will allow for prioritization of existing drill targets and generation of additional drill targets.

Cutting Edge Approach: This survey represents one important modern tool that the technical team is utilizing to maximize high-grade1 uranium discovery efficiency. Much of the survey area is unexplored and unsurveyed by modern methods.

Shallow Drill Targets: The 2024 drill program aims to cover significant ground, focusing on the most promising of the dozens of shallow targets identified in collaboration with the Aero joint technical committee.

Fully Funded: Summer drill plans comprise helicopter-supported diamond drilling across the project, focused on high-priority targets refined by the current geophysical work. Specific details on targets and the number of planned holes will be shared as they are finalized in the coming weeks.

1The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be “high-grade”.

“The Aero technical team and I are thrilled to provide these updates to the market as we quickly move towards kicking off our ambitious 2024 exploration season,” said Sean Hillacre, President & VP Exploration for the Company. “We eagerly anticipate receiving the new EM data and will be putting it to work immediately as we refine our high-priority drill targets for this summer. Securing reliable and leading contractors to complete the work is a great step forward as we look to unlock the potential in the Uranium City district with modern exploration techniques.”



Figure 1.

Figure 1. Overview of the Northwestern Athabasca Uranium District highlighting the Sun Dog Project and leading land position held by and under option to Aero Energy Ltd.

The Project is currently under option (the “Option”) to Aero Energy Ltd. (the “Optionee”) an arms-length company (TSX-V: AERO). Pursuant to the Option Agreement, the Optionee will be granted the option to acquire 100% of the Company’s 19,604-hectare Sun Dog Project located along the northwestern edge of the Athabasca Basin, by completing three years of exploration programs and a series of cash and equity payments. Sun Dog is also subject to a 2% net smelter royalty which may be reduced to 1% for a $1,000,000 cash payment to the Company.

Survey Description and Background

The helicopter-borne VTEM™ Plus system, which is known for its high-resolution imaging capabilities, is a time domain electromagnetic system that is particularly useful for its ability to detect conductive materials deep underground, enabling Aero to identify mineral targets with exceptional precision. Additionally, the system also contains a high sensitivity cesium magnetometer-gradiometer for the mapping of geologic structure and lithology. The Company is leveraging this cutting-edge technology to reveal and refine previously unexplored, high-hosted basement-style targets within the Uranium City district. This comprehensive survey aims to build on previously gathered data to create a full-picture of the site's geological structures and mineral prospects. The VTEM™ Plus survey is expected to be completed within three to four weeks, with preliminary results to be published shortly thereafter.

The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, P.Geo., President and VP Exploration of the Company and a “qualified person” as defined in NI 43-101.

About Standard Uranium (TSX-V: STND)

We find the fuel to power a clean energy future

Standard Uranium is a uranium exploration company and emerging project generator poised for discovery in the world’s richest uranium district. The Company holds interest in over 209,867 acres (84,930 hectares) in the world-class Athabasca Basin in Saskatchewan, Canada. Since its establishment, Standard Uranium has focused on the identification, acquisition, and exploration of Athabasca-style uranium targets with a view to discovery and future development.

Standard Uranium has successfully completed four joint venture earn in partnerships on their Sun Dog, Canary, Atlantic and Ascent projects totaling over $31M in work commitments over the next three years from 2024-2027.

Standard Uranium’s Davidson River Project, in the southwest part of the Athabasca Basin, Saskatchewan, comprises ten mineral claims over 30,737 hectares. Davidson River is highly prospective for basement-hosted uranium deposits due to its location along trend from recent high-grade uranium discoveries. However, owing to the large project size with multiple targets, it remains broadly under-tested by drilling. Recent intersections of wide, structurally deformed and strongly altered shear zones provide significant confidence in the exploration model and future success is expected.

Standard Uranium’s eight eastern Athabasca projects comprise thirty mineral claims over 32,838 hectares. The eastern basin projects are highly prospective for unconformity related and/or basement hosted uranium deposits based on historical uranium occurrences, recently identified geophysical anomalies, and location along trend from several high-grade uranium discoveries.

Standard Uranium's Sun Dog project, in the northwest part of the Athabasca Basin, Saskatchewan, is comprised of nine mineral claims over 19,603 hectares. The Sun Dog project is highly prospective for basement and unconformity hosted uranium deposits yet remains largely untested by sufficient drilling despite its location proximal to uranium discoveries in the area.

For further information contact:

Jon Bey, Chief Executive Officer, and Chairman
Suite 918, 1030 West Georgia Street
Vancouver, British Columbia, V6E 2Y3
Tel: [phone]
E-mail: [e-mail]

Cautionary Statement Regarding Forward-Looking Statements

This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as of the date of this news release. Forward-looking statements include, but are not limited to, statements regarding: the timing and content of upcoming work programs; geological interpretations; timing of the Company’s exploration programs; and estimates of market conditions.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Certain important factors that could cause actual results, performance or achievements to differ materially from those in the forward-looking statements are highlighted in the “Risks and Uncertainties” in the Company’s management discussion and analysis for the fiscal year ended April 30, 2023.

Forward-looking statements are based upon a number of estimates and assumptions that, while considered reasonable by the Company at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies that may cause the Company’s actual financial results, performance, or achievements to be materially different from those expressed or implied herein. Some of the material factors or assumptions used to develop forward-looking statements include, without limitation: that the transaction with the Optionee will proceed as planned; the future price of uranium; anticipated costs and the Company’s ability to raise additional capital if and when necessary; volatility in the market price of the Company’s securities; future sales of the Company’s securities; the Company’s ability to carry on exploration and development activities; the success of exploration, development and operations activities; the timing and results of drilling programs; the discovery of mineral resources on the Company’s mineral properties; the costs of operating and exploration expenditures; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to title to mineral properties; assessments by taxation authorities; fluctuations in general macroeconomic conditions.

The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Any forward-looking statements and the assumptions made with respect thereto are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44f3de5d-90fe-4154-a3de-13f402f1a810

[Lone Clone]

C2C Metals Announces Acquisition of its Second United States Uranium Project

https://www.prnewswire.com/news-releases/c2c-metals-corp-announces-acquisition-of-its-second-united-states-uranium-project-302105293.html

C2C Metals Corp. 02 Apr, 2024, 07:30 ET

CSE: CTOC
www.c2cmetals.com

VANCOUVER, BC, April 2, 2024 /PRNewswire/ - C2C Metals Corp. (CSE: CTOC) (the "Company" or "C2C") reports today the acquisition of its second United States uranium project acquired through claim staking. The project was identified and drilled by URADCO in 1981 establishing a historic resource as detailed below. The Blue Jay Mine Project lies in San Juan County, Utah, and is located in the La Sal Uranium District which is recognized as the second most significant uranium producer in the Utah-Colorado region.










Figure 1 C2C Uranium Project Area Map (CNW Group/C2C Metals Corp.)





Chris Huggins, Chief Executive Officer stated: "The Blue Jay Mine Project is C2C's second uranium project as we continue to delve into the private mining database. The Blue Jay is another excellent example of high value uranium properties that have been neglected for over 40 years. Having access to an extensive database allows C2C to capitalize on previous work that has outlined very promising areas with significant uranium mineralization. The project's mineralization remains open along trend to the west and offers excellent exploration potential."




Blue Jay Mine Uranium Property, San Juan County, Southeastern Utah
C2C's Blue Jay Mine Uranium Property comprises 28 mineral claims covering about 560 acres, located approximately 30 miles south of Moab, San Juan County, Utah, within the La Sal Uranium District. The claims are located about 2 to 3 miles northwesterly from three historic uranium producing mines, including the Rattlesnake Mine - one of the top four past producing uranium-vanadium mines in the La Sal District. The project area is also within, or adjacent to, the largest favorable channel trend in the western part of the La Sal Uranium Mining District, Utah, which hosts many of the largest uranium deposits in the La Sal District.

The claim area saw extensive drilling by URADCO, a subsidiary of Pennsylvania Power and Light Corp (PPL), with some drill sites still visible today. Using URADCO"s drill results from 22 holes, in March 1981, Atlas Minerals' Chief Mining Engineer prepared a preliminary economic evaluation for Atlas' President of a deposit on the property estimating about 110,000 pounds U3O8, at an average grade of about 0.25% U3O8, at depths of 330 to 360 ft. The Atlas report classified the uranium resources as "economically viable reserves." Other information in the Atlas historic records suggests there may be additional lower grade mineralization including 140,000 lbs. U3O8, on property covered by C2C's claims. The Atlas engineer also estimated the V2O5 deposit grade to be 1.25%, based on a historic V2O5:U3O8 ratio of 5:1 for the La Sal District, suggesting an estimated 550,000 lbs. V2O5 included with the estimated uranium resource. At the 1981 Atlas report date, the uranium market price had been falling precipitously, and Atas elected not to acquire the URADCO drilled property. The estimated uranium mineral resources in the Atlas Minerals report are historic in nature and do not conform to the resource reporting terminology as defined in NI 43-101.

The La Sal Uranium-Vanadium District is identified as having Utah's second highest potential for the discovery of additional uranium reserves. C2C's 28 claims including the historic Blue Jay Mine Portal, are also located in an area identified as having "high exploration potential," by the Utah Geological Survey in its report "Uranium Potential in Utah1."

The sandstone-type uranium-vanadium mineralization at the Blue Jay Mine Property is hosted within the upper most sandstone "rim" of the Salt Wash Member of the Jurassic age Morrison Formation. The uranium mineralization on the claims is typical of the Sandstone uranium deposits of the Salt Wash type, of the Colorado Plateau Province. A major characteristic of the Salt Wash type deposits is the occurrence of vanadium together with the uranium, with vanadium usually occurring in higher concentrations than uranium, making them different from the Wyoming and New Mexico uranium deposits, which routinely have very low concentrations of vanadium.

Based on the historic information from the Atlas Minerals' report, C2C's exploration target for the property is between 100,000 and 250,000 lbs. U3O8, at an estimated average grade ranging from 0.15% to 0.25% U3O8, at depths between 330 and 360 ft. The target deposit is conceptional in nature and should not be relied upon by the reader. A Qualified Person (as defined in NI 43-101) has not done sufficient work to verify the historical information on which the conceptual exploration target is based. Additional work, including drilling, will be required to confirm the presence of uranium, and if present, to establish the amount and grade of any mineralization that is found. C2C is not treating the historical information as reliable, and it should not be relied upon.

The technical content concerning the Property in this news release was reviewed and approved by Dr. Douglas H. Underhill, CPG, Chief Geologist for C2C Metals Corp., a Qualified Person as defined by National Instrument 43-101.

About C2C Metals Corp.
C2C Metals is a mineral exploration company which holds a portfolio of uranium, gold and copper projects in the United States and Canada.



1 Gloyn, R.W., and Ken Krahulec, 2005, "Uranium Potential in Utah," Utah Geological Survey, Salt Lake City, Utah, 54 p.




Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as "expected", "will be", "anticipated", "may" or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include but are not limited to: the completion of the name change. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

SOURCE C2C Metals Corp.

[Lone Clone]

MegaWatt Enters into Share Exchange Agreement to Acquire Labrador Mineral Resources Inc.

https://ca.finance.yahoo.com/news/megawatt-enters-share-exchange-agreement-120000373.html

MegaWatt Lithium and Battery Metals Corp.
Mon, April 1, 2024 at 5:00 a.m. PDT·5 min read

WALRF
0.00%

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, April 01, 2024 (GLOBE NEWSWIRE) -- MegaWatt Lithium and Battery Metals Corp. (CSE:MEGA) (FSE: WR20) (OTCQB: WALRF) (the "Company" or "MegaWatt") announces, it has entered into a share exchange agreement dated effective April 1, 2024 (the “Share Exchange Agreement”) among the Company, Labrador Mineral Resources Inc. (“Labrador”), a private company existing under the laws of British Columbia, and the shareholders of Labrador (the “Shareholders”), pursuant to which, subject to regulatory approval, the Company will acquire all of the issued and outstanding shares of Labrador (the “Proposed Transaction”). Labrador purchased a 100% interest (subject only to a 1.5% NSR) in the Benedict Mountains Uranium Property located on the east coast of Labrador approximately 200 km NR of Goose Bay (the “Property”), pursuant to a Property Purchase Agreement dated effective February 8, 2024, between Labrador and the former registered and beneficial owner of the Property (the “Property Purchase Agreement”). Pursuant to the Share Exchange Agreement, the Company will assume all of the obligation of Labrador under the Property Purchase Agreement, including the cash payment contemplated therein.

The Proposed Transaction

Pursuant to the terms and conditions of the Share Exchange Agreement and on the date of closing (the “Closing Date”) of the Proposed Transaction, MegaWatt will acquire all of the issued and outstanding shares of Labrador (the “Labrador Shares”) in consideration for the issuance of 16,275,001 common shares in the capital of the Company (the “MegaWatt Shares”) pro rata to the Shareholders at a deemed price of $0.13 per MegaWatt Share. There are currently 16,275,001 Labrador Shares and no convertible securities of Labrador outstanding. Upon closing of the Proposed Transaction, the capitalization of MegaWatt will consist of 36,483,733 MegaWatt Shares, 501,600 MegaWatt warrants and 620,000 options to acquire MegaWatt Shares. Current Labrador Shareholders will own approximately 44.61% of the combined company on a non-diluted basis, and approximately 43.28% on a fully-diluted basis.

In addition, pursuant to the terms of the Property Purchase Agreement to be assumed by the Company, the Company will make a cash payment of $25,000 by March 2025. The Property is subject to a royalty equal to 1.5% of net smelter returns upon commencement of commercial production and such royalty may be reduced from 1.5% to 0.5% by the payment of $1,000,000.

The Proposed Transaction remains subject to certain closing conditions including, without limitation, (a) the receipt by the Company of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange (the “CSE”), as applicable; and (b) each party's representations and warranties in the Share Exchange Agreement being true and correct in all aspects as of the Closing Date, and each party meeting its terms and conditions and completing its covenants and obligations as contained therein. There can be no guarantees that the Proposed Transaction will be completed as contemplated or at all.

The Proposed Transaction is an arm’s length transaction and no change in management, or the Board of Directors of the Company is being contemplated at this time. No finder’s fees are expected to be paid in connection with the Proposed Transaction. The Proposed Transaction is anticipated to close as soon as reasonably practicable, and in any case, before June 30, 2024.

About MegaWatt Lithium and Battery Metals Corp.

MegaWatt is a British Columbia based company involved in the acquisition and exploration of mineral properties in Canada. The Company holds a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill Property, consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada.

Additionally, the Company has acquired a 100% interest in a company that indirectly holds a 100% interest (subject to a 2% NSR) in two prospective silver-zinc projects in Australia, being the Tyr Silver Project and the Century South Silver-Zinc Project (see press release dated October 15, 2020), an indirect 100% interest (subject to a 1% NSR) in and to certain mining tenements in Northern Territory and New South Wales, Australia prospective for nickel-cobalt-scandium and rare earth elements.

The Company holds a 100% interest (subject to a 2% NSR) in and to the Route 381 Lithium Property, comprised of 40 mineral claims located in James Bay Territory, north of Matagami in the Province of Quebec, covering 2,126 hectares (see press release dated February 3, 2021) and a 100% interest in 229 additional mineral exploration claims prospective for lithium, also in the James Bay area of Quebec covering an area of 12,116 hectares or 121 square kms.

Investors can learn more about the Company and team at https://megawattmetals.com.

Related Links

https://megawattmetals.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

The securities to be issued in connection with the Proposed Transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

This press release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These forward-looking statements or information may relate to the potential acquisition of Labrador, including, the closing of the Proposed Transaction on the terms described herein or at all, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

FOR FURTHER INFORMATION PLEASE CONTACT:

Kelvin Lee, Chief Financial Officer

kelvin @qtips - greasy ear spammer

[Lone Clone]

Tisdale Clean Energy Completes First Two Drill Holes at the South Falcon East Uranium Project, Athabasca Basin, Saskatchewan

https://thenewswire.com/press-releases/1Av7FGJEE-tisdale-clean-energy-completes-first-two-drill-holes-at-the-south-falcon-east-uranium-project-athabasca-basin-saskatchewan.html

Vancouver B.C. - TheNewswire - April 1, 2024 – TISDALE CLEAN ENERGY CORP. (“Tisdale” or the “Company”) (TSXV:TCEC), (OTC:TCEFF), (FSE:T1KC), is pleased to provide an update on the phase one diamond drill program recently conducted at the South Falcon East Uranium Project, which hosts the Fraser Lakes B uranium deposit.

The 12,464-ha South Falcon East Project lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake uranium mill and former mine (Figure 1). Tisdale Clean Energy Corp entered into an option agreement with Skyharbour Resources Ltd in October of 2022 whereby the company can earn up to a 75% interest in the South Falcon East property.

This initial 2024 program is scheduled to complete up to 1500m of drilling in two phases, with the priority being the confirmation of existing mineralization. Follow-up drill programs will then be pursued to both facilitate expansion of the known Fraser Lake B deposit and to test multiple additional high-priority exploration targets at South Falcon East (Figure 2).

Phase one included 442m drilled in the first two drill holes. Hole SF-0059 was completed to a depth of 221m and intersected multiple zones of uranium mineralization over 13.5m, confirming the presence of mineralization in the vicinity of historical hole FP-15-05 (see below). Mineralization occurs within altered pelitic gneiss containing granitic pegmatites, overlying graphitic pelitic gneiss.

Highlights include:

0.02% eU over 5.6 m from 129.65 to 135.25 m, including:

0.07% eU over 1.1 m from 131.75 to 132.85 m. This included a 0.2 m interval grading 0.11% eU

0.03% eU over 4.1 m from 137.65 to 141.75 m, including:

0.11% eU over 0.2 m from 138.15 to 138.35m

0.05% eU over 0.2 m from 139.55 to 139.75m

0.06% eU over 0.2 m from 141.35. to 141.55m

The second drill hole of the program, SF-0060, was targeted to test for an extension of the mineralization in FP-15-05 along strike 25m to the Northeast of the mineralized intercept of FP-15-05. Hole SF-0060 was completed to a depth of 221m. Several zones of mineralization were also encountered, below 132m, with the best intersection occurring within altered pelitic gneiss containing graphite and granitic pegmatites.

This zone is highlighted by:

0.02% eU over 1.3 m from 142.15 to 143.45 m, including:

0.05% eU over 0.1 m from 142.55 to 142.65 m.

“We’re pleased to see uranium values comparable to the grades of the known resource in the first drill two drill holes completed on the property in nearly a decade,” said Alex Klenman, CEO. “This is what we need to see as we confirm then pursue expansion. We are starting with a historical resource of nearly 7 million pounds of uranium contained in a shallow deposit. The opportunity we have here is exceptional, certainly unique for a company with our market cap, and we believe we’re just scratching the surface in terms of what can be achieved at South Falcon East,” continued Mr. Klenman.

“We are encouraged to be intersecting the expected mineralization near the previous drilling at South Falcon East,” commented Trevor Perkins, Consulting Geologist for Tisdale. “This confirmation of existing mineralization is a necessary first step to expanding the Fraser Lakes B @hUranium Deposit,” continued Mr. Perkins.

Samples of the mineralized intervals within the drill core have been collected and shipped for analysis at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan. The Company will provide more detailed results once geochemical analysis of the collected drill core samples is completed, reviewed, and confirmed.

The results of these two drill holes confirm the presence of mineralized pegmatites and pelitic paragneiss within the deposit and project area. Graphitic pelitic paragneiss are the key lithology associated with uranium deposits within the eastern Athabasca Basin and are a good indication that additional pegmatite deposits as well as basement hosted unconformity related uranium deposits may be present along the Way Lake Conductor, within the South Falcon East claim boundaries.

Drilling at South Falcon East is scheduled to resume later this spring. The Company will release details on the dates of mobilization and drill commencement once they are confirmed. Phase two drilling will again be conducted by Terralogic Exploration Inc. under the supervision of Laura Tennent, Project Manager with TerraLogic Exploration, and C. Trevor Perkins, lead geologist for Tisdale. The drill program is operating out of Skyharbour’s McGowan Lake Camp with helicopter support for the daily drilling operations.

Historical Drill Hole FP-15-05

Historical diamond drill hole FP-15-05 was drilled by Skyharbour Resources in 2015 and returned multiple zones of mineralization over a 14m interval, including 6m of .10% U308 (including a 2m interval of 0.165% U3O8 (from 135m) and 2.5m of 0.172% U3O8 (from 145m). This is the best intersection to date on the property and along the Way Lake conductive trend.

This hole, it should be noted, had to be abandoned due to equipment issues at 165m within the mineralized zone, leaving steel drill rods throughout the hole. Tisdale’s initial drill hole, SF-0059, was planned to twin historical hole FP-15-05. Modifications were made to accommodate the presence of the material left behind in the hole and adjustments made to mitigate a lack of precision in tracing of FP-105-05, as no downhole orientation surveys were able to be completed, and any potential downhole deviation was unable to be determined. As a result, a larger separation and step forward was required, as well as the use of non-magnetic downhole orientation survey equipment. SF-0059 was therefore located 2.0m forward (in front, up-dip) of FP-15-05 to ensure no interference.


Click Image To View Full Size

Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada

Use of Radiometric Equivalent Grades

Drillholes are logged for in-situ radioactivity using a calibrated Mount Sopris Triple Gamma probe which collects continuous readings along the length of the drillhole. The probe records the amount of radioactivity present in the rock adjacent to the probe as it moves up and down the hole. Preliminary radiometric equivalent grades (% eU3O8) are then calculated from the downhole radiometric results using an algorithm derived from the calibration of the downhole probe equipment. The Triple Gamma probe was calibrated prior to the commencement of the current drill program at the Saskatchewan Research Council test pit facility in Saskatoon, Saskatchewan.

Using down-hole probes to calculate radiometric equivalent grades is a common practice used by uranium exploration and mining companies in the Athabasca Basin. Tisdale will report radiometric equivalent grades as a preliminary result indicative of intersected mineralization pending the receipt of definitive assay grades once geochemical analysis of collected drill core samples from the mineralized intervals are complete. The samples will be analyzed at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan.


Click Image To View Full Size

Figure 2: 2024 Drill Target areas at the south Falcon East Uranium Project


Click Image To View Full Size

Figure 3: 2024 Drill location map in relation to FP-15-05 and the Way Lake Conductor.

About the South Falcon East Project

The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour Resources Ltd.’s existing South Falcon Project. The project covers approximately 12,464 hectares and lies 18 kilometers outside the Athabasca Basin, approximately 50 kilometers east of the Key Lake Mine.

The South Falcon East Project contains the Fraser Lakes B Uranium/Thorium Deposit with a historic mineral resource* of 6.9 Mlbs U3O8 inferred at a grade of 0.03% U3O8 and 5.3 Mlbs ThO2 inferred at a grade of 0.023 % ThO2. Uranium and thorium mineralization discovered to date is shallow classic Athabasca-style basement mineralization associated with well-developed EM conductors. The exploration potential of the Fraser Lakes target area is considered exceptional, including the historical resource expansion potential of the current deposit at Zone B.

About Tisdale Clean Energy Corp.

Tisdale Clean Energy is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.

Qualified Person

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by C. Trevor Perkins, P.Geo., Lead Geologist for the Company, and a Qualified Person as defined by National Instrument 43-101.

*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedar.com on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.

ON BEHALF OF THE BOARD OF TISDALE CLEAN ENERGY CORP.

“Alex Klenman”

Alex Klenman, CEO

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.

For further information please contact:

Alex Klenman, CEO

Tel: [phone]

[e-mail]


Tisdale Clean Energy Corp

Suite 2200, HSBC Building, 885 West Georgia St.
Vancouver, BC V6C 3E8 Canada

www.tisdalecleanenergy.com

[Lone Clone]

Global Atomic Announces 2023 Results and publishes Dasa Uranium Project Feasibility Study

https://www.newswire.ca/news-releases/global-atomic-announces-2023-results-and-publishes-dasa-uranium-project-feasibility-study-822565477.html

Global Atomic Corporation Mar 27, 2024, 20:53 ET

Dasa Uranium Project Remains on Schedule to Produce Yellowcake in Q1 2026

TORONTO, March 27, 2024 /CNW/ - Global Atomic Corporation ("Global Atomic" or the "Company"), (TSX: GLO) (OTCQX: GLATF) (FRANKFURT: G12)

[Lone Clone]

Kraken Energy Confirms Elevated Radioactivity in Both Initial Drill Holes at Harts Point Property, Utah

Drill hole HP24-002 Intersects a continuous 2.4 m (7.9 ft) interval with downhole probe readings ranging up to 2,162 cps

https://www.newsfilecorp.com/release/203107

March 26, 2024 8:00 AM EDT | Source: Kraken Energy Corp.

Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - Kraken Energy Corp. (CSE: UUSA) (OTCQB: UUSAF) (FSE: F2C) (the "Company" or "Kraken") is pleased to report that the Company has completed its maiden drilling program at the Harts Point Uranium Property ("Harts Point" or the "Property") in San Juan County, Utah.

The Phase I drilling program tested two targets spaced 5 kilometers ("km") (3.12 miles) apart, focused on confirming the presence of uranium mineralization indicated by radiometric anomalies in three historic oil wells on the Property.

"Our team is very pleased with the initial results from our maiden drilling program at Harts Point," stated CEO Matthew Schwab. "With the discovery of Lisbon Valley originating from the initial drilling of 7 holes over a strike length of 1.5 km, where only 3 drill holes intersected radioactivity, it gives us great confidence in the Property after drilling only two holes over a 5 km distance and intersecting elevated radioactivity in both."

"We look forward to continuing our work in Utah as we move forward with advanced exploration across our portfolio of exciting properties and look to capitalize on the project's exceptional potential to discover a trend of high-grade uranium deposits located within a pro-mining jurisdiction."

Downhole Gamma Probe Results:

Drillhole HP24-001 intersected a total of 12.9 meters (m) (42.3 feet ("ft")) of elevated radioactivity with downhole probe readings from 252 counts per second ("cps") up to 653 cps from 151.5 to 421.5 m (497.0 to 1,382.8 ft)

Including 270 to 653 cps over 1.0 m (3.2 ft) from 415.1 to 416.1 m (1,361.9 to 1,365.1 ft)

Drillhole HP24-002 intersected a total of 16.2 m (53.1 ft) of elevated radioactivity with downhole probe readings from 252 cps up to 2,162 cps from 107.8 to 390.4 m (353.6 to 1,280.7 ft)

Including 263 to 2,162 cps over 2.4 m (7.9 ft) from (1,261.2 to 1,269.1 ft)

* Background gamma readings through non-elevated zones typically range from 10-150 cps on the borehole gamma probe

"We're thrilled that our Joint Venture Partner, Kraken Energy has successfully completed their maiden drilling program at our Harts Point project in Utah. The discovery of uranium on the Harts Point anticline marks a pivotal moment in Colorado Plateau exploration as it validates our theory that uranium is not solely confined to the Lisbon Valley anticline indicating other known salt anticlines are also prospective for uranium. This success of the phase 1 program underscores the commitment of our combined Technical team's ability to find and explore previously overlooked potential uranium deposits on the plateau." - Clive Massey, President & CEO, Atomic Minerals Corp.

Harts Point Property Highlights:

World class uranium jurisdiction: located in the center of the Colorado Plateau, which has produced over 590 million ("M") pounds ("lbs") U3O8 at 0.2 to 0.4% U3O8 since the 1950s1,5-8.
Property consists of 324 lode mining claims on Bureau of Land Management ("BLM") ground that covers an area of 2,622 hectares ("ha") (6,480 acres).
Harts Point Anticline is Analogous to the Lisbon Valley Anticline: where the Lisbon Valley Uranium District hosted 17 large uranium mines which produced approximately 80M lbs U3O8 at 0.34% U3O8 from 1948 to 19882.
The dimensions of these tabular sandstone-hosted uranium deposits range from 2 to 13 m (7 to 43 feet) thick, 100 to 3,048 m (328 to 10,000 feet) long, and 31 to 427 m (100 to 1,400 feet) wide3.
Significant Historic Uranium Production:
Several historic mines located 11 km (7 miles) west of the Harts Point Property produced approximately 280,000 lbs U3O8 at 0.3% U3O8 from the favorable Chinle Formation host rock4.
The Lisbon Valley Anticline is located 31 km (19 miles) to the east of the Harts Point Property produced approximately 80M lbs U3O8 0.34% U3O82.
Excellent Infrastructure: located approximately 64 km (40 miles) north of the White Mesa uranium processing facility.
There is also excellent access throughout the Property, which is situated 45 km (28 miles) from the town of Monticello, Utah.



Figure 1: Harts Point Property with Local Uranium Occurrences

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8684/203107_c58e2e96c4f12b2e_001full.jpg

Stock Option Grant:

The Company also announces that it has granted incentive stock options to purchase a total of 700,000 common shares at an exercise price of $0.20 per share for a period of five years, including 200,000 options to newly appointed director Marlis Yassin, 200,000 options to existing director Jesse Hahn, 200,000 options to existing investor relations firm Kin Communications (see the Company's news release dated December 20, 2022) and 100,000 options to Kin Communications' employee, Trenton Kwan as compensation for investor relations services, all in accordance with the provisions of the Company's stock option plan.

References:

1 Holger Albrethsen, Jr. and Frank E. McGinley (1982). Summary History of Domestic Procurement Under U.S. Atomic Energy Commission Contracts, September 1982.

2 Chenoweth, W.L. (1990). Lisbon Valley, Utah's Premier Uranium Area, a Summary of Exploration and Ore Production. Utah Geological Survey Open File Report 188, July 1990.

3 Gordon W. Weir and Willard P. Puffett (1981). Incomplete manuscript on stratigraphy and structural geology and uranium-vanadium and copper deposits of the Lisbon Valley area, Utah-Colorado. Open-File Report 81-39. Pages 153 to 163. United States Department of the Interior Geological Survey.

4 Chenoweth, W.L. (1993): The geology and Production History of the Uranium deposits in the White Canyon Mining District, San Juan County, Utah, Utah Geological Survey Miscellaneous Publication 93-3.

5 Mills, Stephanie E. and Bear Jordan (2021). Uranium and Vanadium Resources of Utah: An Update in the Era of Critical Minerals and Carbon Neutrality, Open File Report 735, Utah Geological Survey.

6 Chenoweth, William L. (1981). The Uranium - Vanadium Deposits of the Uravan Mineral Belt and Adjacent Areas, Colorado and Utah, New Mexico Geological Society Guidebook, 32nd Field Conference, Western Slope Colorado.

7 McLemore, Virginia T. and Willam L. Chenoweth (1989). Uranium Resources in New Mexico, Resource Map 18, New Mexico Bureau of Mines and Mineral Resources.

8 Chenoweth, William L. and Virginia T. McLemore (1989). Uranium Resources on the Colorado Plateau in Energy Frontiers in the Rockies, Albuquerque Geological Society.

Technical Information:

All scientific and technical information in this news release has been prepared by or reviewed and approved by Matthew Schwab, P.Geo., President and CEO of the Company, and Garrett Ainsworth, P.Geo., Chairman of the Company. Each of Mr. Schwab and Mr. Ainsworth is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

The data disclosed in this news release is related to historical drilling results. Kraken has not undertaken any independent investigation of the sampling, nor has it independently analyzed the results of the historical exploration work in order to verify the results. Kraken considers these historical drill results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a Mount Sopris QL40-SGR-2G downhole spectral gamma tool. The Company considers greater than 250 cps on the downhole probe to be elevated radioactivity from the background radioactivity levels of 10 to 150 cps. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication for the presence of radioactive materials. All depth measurements reported are down-hole and true thicknesses are yet to be determined. Samples from the drill core are split in half on site in 0.25 to 0.50 m intervals. One half of the split sample will be submitted to American Assay Laboratories ("AAL") (an ISO-17025 accredited facility) in Reno, Nevada for lithogeochemical analysis using the "26 element 4 acid + Boric Acid digestion ICP-OES+MS" package.

About the Harts Point Property:

Harts Point is located in the center of the Colorado Plateau, referred to by some as "the Athabasca Basin of the US" and is 64 kilometers ("km") (40 miles) north of the White Mesa Uranium Mill, the only fully licensed and operating conventional uranium mill in the United States. The Property consists of 324 lode mining claims on Bureau of Land Management ("BLM") ground and drill permits are in place for up to 20 exploration drill holes.

About Kraken Energy Corp.:

Kraken Energy Corp. is a new energy company advancing its portfolio of high-grade uranium properties in the Unites States. The Company is advancing its 100%-owned Apex Uranium Property, located 280 km (174 miles) east from Reno, Nevada which is recognized as Nevada's largest past-producing uranium mine. The Company has additionally entered into an option agreement to earn 100% of the Garfield Hills Uranium Property. The past-producing Garfield Hills Uranium Property covers 1,238 ha (3,060 acres) and is located 19 km (12 miles) east of Hawthorne in Mineral County, Nevada. Kraken Energy has also recently staked the Huber Hills Uranium Property, located 136 km (85 miles) north of Elko, Nevada which covers 1,044 ha (2,580 acres) and encompasses the historic Race Track open pit mine. The Company has recently entered into an option agreement to earn 75% of the Harts Point Uranium Property. The Harts Point Uranium Property covers 2,622 ha (6,480 acres) and is located 49 km (30 miles) northwest of Monticello in San Juan County, Utah.

For more information about the Company, please visit; www.krakenenergycorp.com.

On Behalf of the Board of Kraken Energy Corp.:

Matthew Schwab
President & Chief Executive Officer

Corporate Office:
Suite 907 - 1030 West Georgia Street
Vancouver, British Columbia
V6E 2Y3
T: [phone]

For investor relations inquiries, contact:
Kin Communications Inc.
T: [phone]
E: [e-mail]

This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward-looking statements in this press release include our plans for exploration at the properties. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine can be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

SOURCE: Kraken Energy Corp.

[Lone Clone]

Aero Energy Announces Airborne VTEM(TM) Plus Survey Targeting High-Grade Uranium Mineralization on the Athabasca Basin's Northern Rim

https://www.newsfilecorp.com/release/203004

March 26, 2024 7:35 AM EDT | Source: Aero Energy Ltd.

Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - Aero Energy Ltd (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) ("Aero" or the "Company") is pleased to announce the start of an airborne VTEM™ Plus survey aimed at high-grade uranium exploration within its district-scale uranium exploration portfolio, situated in the Athabasca Basin's Northern Rim. The survey is being carried out by Geotech Ltd. of Aurora, Ontario.

Highlights

Direct Detection Capabilities: The helicopter-borne VTEM™ Plus system readily detects the electrically conductive graphite-rich rocks that are the favoured targets for large basement-hosted uranium deposits.

Large and Detailed Survey Area: The survey will cover the Sun Dog and Murmac properties and consist of 3,350 km of flight lines in a grid pattern with 100 m spacing between each flight line. This will allow for prioritization of existing drill targets and generation of additional drill targets.

Cutting Edge Approach: This survey represents one important modern tool that the Company is utilizing to maximize high-grade uranium discovery efficiency. Much of the survey area is unexplored and unsurveyed by modern methods thus providing a key new discovery opportunity in a frontier region of the Athabasca Basin.

New Ideas & New Vectors: These large properties are significantly underexplored for basement-hosted uranium, examples of which include NexGen Energy's Arrow Deposit (TSX: NXE) and Fission Uranium's Triple R Deposit (TSX: FCU).

Fast Track to Drilling Dozens of Targets: Since 2020, exploration partners Fortune Bay (TSXV: FOR) and Standard Uranium (TSXV: STND) have invested $7.6M in early exploration revealing dozens of targets, multiple uranium-fertile EM-conductor corridors and ten new shallow uranium occurrences between 20 and 150 m below surface poised for immediate exploration as a starting point.

Galen McNamara, CEO of Aero Energy, commented: "VTEM™ Plus surveys represent a significant step forward in Aero's ongoing efforts to leverage advanced technology for exploration success." He continued, "the survey will allow us to obtain high-resolution data of our targeted mineralizing systems, which we believe to be active across the survey area. By leveraging innovative technology and our internal expertise, we are confident in our ability to unearth the full potential of our assets and deliver value to our stakeholders."



Figure 1: Survey flight line pattern over the Sun Dog and Murmac properties (lay flight lines over this map)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/203004_68b052fbd4ff6ba6_002full.jpg



Figure 2: Geotech Ltd. VTEM™ survey system collecting data in the field.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8126/203004_68b052fbd4ff6ba6_003full.jpg

Survey Description and Background

The helicopter-borne VTEM™ (Versatile Time-Domain Electromagnetic) Plus system, which is known for its high-resolution imaging capabilities, is a time domain electromagnetic system that is particularly useful for its ability to detect conductive materials deep underground, enabling Aero to identify mineral targets with exceptional precision. Additionally, the system also contains a high-sensitivity cesium magnetometer-gradiometer for the mapping of geologic structure and lithology. The Company is leveraging this cutting-edge technology to reveal and refine previously unexplored, high-hosted basement-style targets within the Uranium City district.

The survey is underway and will consist of approximately 3,350 line-kilometers of VTEM™ Plus flown over the Murmac and Sun Dog properties in a grid pattern with 100 m spacing between flight lines. The survey will cover a substantial area of interest identified by Aero's exploration team much of which is previously unsurveyed by modern methods, providing valuable insights into the subsurface geology and potential mineralization in the area. This comprehensive survey aims to build on previously gathered data to create a full-picture of the site's geological structures and mineral prospects. The VTEM™ Plus survey is expected to be completed within three to four weeks, with preliminary results to be published shortly thereafter.

Corporate Update

Aero also announces that it has entered into an agreement (the "Agreement") with Blue Summit Ventures ("Blue Summit"), an arm's-length party to the Company, to provide business development and digital marketing initiatives to enhance awareness of the Company. Blue Summit will leverage social media harnessing the power of various platforms to raise awareness of Aero, engage with stakeholders, and communicate the Company's ongoing uranium exploration and development program. The initial term of the Agreement is for a period of six months for an aggregate amount of $175,000 plus applicable taxes. As of the date hereof, to the Company's knowledge, Blue Summit (including its directors and officers) does not own any securities of the Company. The Agreement remains subject to approval by the TSX Venture Exchange.

Qualified Person

The technical content of this news release has been reviewed and approved by Galen McNamara, P. Geo., CEO of the Company and a qualified person as defined by National Instrument 43-101.

About Aero Energy Limited

Aero Energy is a mineral exploration and development company advancing a district-scale 250,000-acre land package in the historic Uranium City district within Saskatchewan's Athabasca Basin. Aero Energy is focused on uncovering high-grade uranium deposits across its flagship optioned properties - Sun Dog, Strike, and Murmac - in addition to its fully owned properties. With the application of modern exploration techniques, the Company has identified over 50 shallow drill-ready targets and 125 kilometres of target horizon on the frontier north rim of the Athabasca Basin. Aero Energy is tapping into the Athabasca Basin's emerging potential for high-grade, unconformity-style mineralization.

On Behalf of the Board of Directors

"Galen McNamara"

Galen McNamara, Interim Chief Executive Officer

Further information on the Company can be found on the Company's website at aeroenergy.ca and at www.sedarplus.ca, or by contacting the Company by email at [e-mail].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and include expectations regarding the Offering. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE: Aero Energy Ltd.

[Lone Clone]

Belmont Resources Announces 2024 Exploration Plans For Crackingstone Uranium Project, North Saskatchewan "Watch Feature Video"

Crackingstone Highlights

Property cover 5kms of Black Bay Shear Zone which hosts several past producing uranium mines

Historic grab samples at uranium showings (%U3O8); Beck 93-12.53%; Beck 102-5.2% Beck 91 -2.86%

Belmont 2008 Drilling DH-C14 intercepted 2.09% U3O8 over 0.3 m and 0.87% U3O8 over 0.5 m within 1.18% U3O8 over 0.9 m from 49.1 to 50.0 m.

Ground Spectrometer surveying outlined a radioactive zone 1km long and 300m wide with CPS readings ranging from 400-65,000 cps.

No less than 3 major conductive structural corridors associated with Uranium occurrences identified totaling 10 kms, with 2 areas of fault intersections being prime locations for uranium mineralization

https://thenewswire.com/press-releases/1k3wF0a0O-belmont-resources-announces-2024-exploration-plans-for-crackingstone-uranium-project-north-saskatchewan-watch-feature-video.html

March 27, 2024 -Vancouver, B.C., Canada; Belmont Resources Ltd. (“Belmont” or the “Company”) (TSX.V: BEA; FSE: L3L2) is pleased to announce plans for a 2024 exploration and drilling program on its Crackingstone Uranium project situated in the Beaverlodge uranium district on the north shore of Lake Athabasca. This is the first time that Belmont is returning to the uranium project since its last successful 3,000 meter drill program in 2008. The project was put on hold after the drill program due to the 2008 market crash and a major drop in uranium prices.

George Sookochoff, President & CEO, Belmont Resources commented “We have been waiting for the right time to bring our Crackingstone Uranium project back on stream, and with uranium prices at an all-time high, now is certainly the right time to showcase Belmont’s great uranium project!”

We have produced a very informative video which does a great job in telling the Crackingstone visual story. We invite you to watch it at https://belmontresources.com/crackingstone-video/”



Beaverlodge Uranium District, North Shore of Lake Athabasca Saskatchewan.


Click Image To View Full Size

The 100% owned Crackingstone property is located in the Beaverlodge uranium district, on the north shore of Lake Athabasca and only 6 km by road from Uranium City, Saskatchewan. A power line crosses the southern portion of the property.

Historic work in the Uranium City area dates back to the 1950’s. From 1953 to 1982, sixteen deposits were brought into production which produced a total of 70,250,000 lbs U3O8 averaging 0.24 % U3O8. The grades ranged from 0.18% to 0.43%.

The Crackingstone property covers 5 kms of the Black Bay Shear Zone, a major structural feature in the region which hosts several past producing mines such as the past producing Leonard and Smitty uranium mines combined to produce 876,000 lbs of uranium oxide and to the northeast the Cayzor uranium mine produced approximately 1,372,800 lbs with unexplored depth potential.

Crackingstone Historic Exploration



In 1958 Mr. E. Kull, drove a short adit which is now referred to as the Number 7 Adit, from the base of a trench, previously returned 15.6% U3O8 over 0.43m. He shipped 11 tons of broken rock to the Lorado mill which graded 2.3% U3O8.



In 1959 Uranium stain was visible at a few places near the Beck 91 showing. A channel sample assayed 0.61m at 0.95% U3O8 and a bulk sample from the same locality assayed 3.86% U3O8.



A grab sample containing considerable yellow stain, possibly fine disseminated pitchblende, from the Beck 93 showing, assayed 12.53% U3O8.



At the Beck 231 showing Channel sampling assayed 1.32% U3O8 over 0.64m, 2.13% over 0.70m and 1.46% over 0.49m.



At the Beck 102 showing a grab sample assayed 5.2% U3O8.







Structural Faults

On the property and on strike with the Black Bay structural corridor are the northeasterly Chance Lake and Boom Lake Faults. These two faults are on trend with the Leonard, Smitty and Cayzor past producing uranium mines, 6 kilometers north east of the property.

These faults appear to have been reactivated several times to provide ample fractured ground for hosting the uranium mineralization. The easterly Crackingstone fault intersects the two northeasterly faults on the property. The Cinch Lake uranium mine is situated on the Crackingstone fault 6 kilometers east of the property

The two areas of fault intersections are prime locations for potential uranium mineralization. The intersection area of the Boom Lake and Crackingstone faults tested successfully in a 20 hole drilling program in 2008.





EM Conductive Corridors

A 2007 EM survey by Belmont has delineated three primary conductive corridors on the property. The Chance Lake and Boom Lake EM corridors are coincident with the Chance Lake and Boom Lake north easterly faults. The Nero Lake conductive corridor is a broad corridor trending north easterly in the south east area of the property. All three corridors are associated with Uranium occurrences.

Radiometric Survey







A 2007 Airborne Radiometric survey identified two large Uranium anomalies. The north anomaly is on a north easterly trend and appears to be associated with the northern portions of the Chance Lake and Boom Lake EM conductive corridors.

The south east Uranium anomaly trends north easterly as well, and appears to be associated with the Nero Lake conductive corridor.

The Uranium radiometric data was filtered to produce a “Uranium First Vertical Derivative (U1VD)” map. The U1VD algorithm enhances the shallow sources of uranium by suppressing the effect of the deeper ones. This helps to reveal near-surface uranium mineralization on the property. Most all of the uranium occurrences on the property are coincident with a U1VD anomaly which adds confidence to use of U1VD mapping as a powerful resource in combination with the structural faults and EM conductive corridors for the selection of future drill targets.

Ground Spectrometer Radioactivity Survey







A ground radioactivity survey using a RS-125 Spectrometer, over the central area of the property was conducted in 2007. Readings were taken in areas of rock outcroppings and also at various uranium occurrences. Several high radioactive readings were recorded in this area with readings reaching >65,000 CPS which is considered to be “off-scale”.

A radioactive zone 1km long and 300m wide, with CPS readings ranging from 400-65,000 CPS was identified on the north easterly trending Boom Lake conductive structural corridor.

2008 Drilling







In March of 2008 Belmont carried out a 20 hole, 3,000 meter diamond drilling program covering an 1,800 meter strike length from the Boom Lake – Crackingstone intersection north along the Boom lake fault.

All of the drill core was mineralized with uranium.

Some highlights are as follows:

Hole C14:

2.087% U3O8 over 0.3 m and 0.873% U3O8 over 0.5 m

within 1.182% U3O8 over 0.9 m from 49.1 to 50.0 m







Hole C8:

0.362% U3O8 over 0.15 m from 114.4 to 114.55 metres

within 0.277% U3O8 over 0.25 m from 114.4 to 114.65 m

0.371% U3O8 over 0.5 m starting from 116.2 to 116.7 m;

0.146% U3O8 over 0.35 metres from 123.35 to 123.7 m

Hole C10:

0.256% U3O8 over 0.4 m from 108.5 to 108.9 m

In addition to the uranium mineralization, drilling intercepted a 1.8 kilometer pegmatite dyke. Pegmatite is often associated with uranium mineralization in the Athabasca basin. Of equal importance was the extensive amount of hematite alteration intercepted across the entire 1.8 kilometer zone. Hematite alteration is commonly associated with uranium in the Athabasca basin. Hematite alteration is an indication of uranium precipitation during the hydrothermal event.

The results of the 2008 drilling were very positive with the interception of uranium mineralization, pegmatites and hematite alteration along the Boom Lake and Crackingstone structural fault zones confirming the methodology of exploring the intersection point of the structural features and the discovery of new zones of mineralization not previously known.

2024 Exploration







In preparation for a 2024 exploration program Belmont has compiled and modeled over 70 years of exploration survey data from the Crackingstone area. The newly compiled exploration database, with all available historical data, shows 21 areas with key characteristics for potential uranium mineralization. Of those 21 areas, 8 have been selected as high priority targets having all or most of the following criteria:

on or near a major fault,

on or near an EM conductor

on or near a U1VD anomaly,

surface uranium occurrence.

Phase 1 of the 2024 exploration program which is expected in Q2 of 2024, will involve ground verification of the high priority targets and prioritizing selected drill targets for a Q4 drill program.

About Belmont Resources

Belmont Resources has assembled a portfolio of highly prospective copper, gold, lithium, uranium and rare earths projects located in British Columbia, Saskatchewan, Washington and Nevada States. Its holdings include:



Athelstan-Jackpot (A-J): 2 former gold mines. Initial 2023 drill results from Athelstan gold mine area drilling indicates peripheral alteration zone to a potential deep-seated gold-copper porphyry.

CrackingstoneUranium: High grade uranium property situated in the prolific Beaverlodge Uranium District of the Athabasca basin. The Project covers 4 kilometers of the Black Bay Shear Zone, a northeast trending magnetic low corridor which hosts 4 past producing mines.



Come By Chance (CBC): 2021 geophysics delineated potential large copper-gold porphyry2022 drilling provided further vectors towards potential core of porphyry;


The Lone StarCopper-Gold: optioned to Australian Marquee Resources ASX:MQR; MQR has spent $2.5M in drilling, completed new resource in Dec. 2022 and a PEA in November 2023 earning them a 50% interest in the property.


The Kibby Basin Lithium project located 60 kilometers north of the lithium rich Clayton Valley Basin: Optioned 80% of the central Kibby Playa claim block to Australian Marquee Resources MQR. MQR has spent $2.5M in drilling in 2022 for potential deep seated lithium brine. 2022 Drilling confirmed high levels of lithium-bearing sediments along with dissolved lithium in the groundwater. Mineralized intervals containing up to 924 ppm lithium with greater than 300 ppm lithium over thicknesses in excess of 450m have been identified in core samples of clay-rich playa sediments.




Click Image To View Full Size



NI 43-101 Disclosure:

The technical and scientific information in this news release has been reviewed and approved by Laurence Sookochoff, P.Eng. Technical Advisor of the Company, who is a Qualified Person as defined by NI 43-101

ON BEHALF OF THE BOARD OF DIRECTORS

“George Sookochoff”

George Sookochoff, CEO/President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This Press Release may contain forward-looking statements that may involve a number of risks and uncertainties, based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control. Actual events or results could differ materially from the Companies forward-looking statements and expectations. These risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval; that we may not be able to raise funds required, that conditions to closing may not be fulfilled and we may not be able to organize and carry out an exploration program in 2023, and other risks associated with being a mineral exploration and development company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

Details on the sources of information contained within this News Release:

Report No. 126; Uranium Deposits of the Athabasca Region, Saskatchewan by L.S. Beck 1969, DEPARTMENT OF MINERAL RESOURCES, Geological Sciences Branch, Precambrian Geology Division.

A May 2008 Report On A Reconnaissance Sampling Program & Radon Gas Survey On the Crackingstone Property by J. Morgan, PhD Geologist & R.A. Bernatchez, B. Sc, P.Eng. Consulting Geologist.

A June 2009 Report On the Crackingstone Property 2008 Spring-Summer Diamond Drilling Program for Belmont Resources by J. Morgan, PhD Geologist & R.A. Bernatchez, B. Sc, P.Eng. Consulting Geologist.

An Interpretation of Aeroquest’s Airborne Geophysical Survey Magnetic and Electromagnetic Survey Job # 08-057 for Belmont Resources Magnetic and Electromagnetic Survey, April 16, 2009 by R.A. Bernatchez, P. Eng. Consulting Geologist.

Saskatchewan Mineral Deposit Index (SMDI) - digital information on all known mineral occurrences in the Province of Saskatchewan.

[Lone Clone]

Forum Commences Mobilization for 10,000 Metre Drill Program at the Aberdeen Uranium Project, Thelon Basin, Nunavut

https://www.newsfilecorp.com/release/203018

March 26, 2024 8:30 AM EDT | Source: Forum Energy Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces it has commenced mobilization of its camp, fuel, equipment and second drill to its camp location on the Aberdeen Uranium Project, located adjacent to Orano's 133 million pound Kiggavik uranium deposit in the Thelon Basin, Nunavut. Forum plans a 10,000 metre drill program just two months away in June to follow-up on its successful drill program in 2023. Four drill holes into the Tatiggaq deposit intersected up to 2.25% U3O8 over 11.1 metres over a 200-metre strike length. The structure hosting uranium mineralization extends for 1.5 kilometres within a highly altered uranium mineralized system.



Figure 1 Inuit-owned Peter's Expediting Ltd. has commenced Forum's overland haul of fuel tanks and supplies across the Arctic tundra from Baker Lake to its camp location, 120 km to the west.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4908/203018_c444c116341909cd_003full.jpg

Dr. Rebecca Hunter, Vice President, Exploration commented, "We are excited to commence our 2024 exploration program in Nunavut starting with the large task of moving our drill camp, second drill and consumables overland from Baker Lake to our new Aberdeen Camp."

Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. In addition, Forum holds a diversified energy metal portfolio of copper, nickel, and cobalt projects in Saskatchewan and Idaho. For further information: https://www.forumenergymetals.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

Rick Mazur, P.Geo.
President & CEO
[e-mail]
Tel: [phone]

SOURCE: Forum Energy Metals Corp.

[Lone Clone]

ATHA Energy Announces 92 Energy Obtains Shareholder Approval for Transaction

https://ca.finance.yahoo.com/news/atha-energy-announces-92-energy-134900763.html

ATHA Energy Corp.
Mon, March 25, 2024 at 6:49 a.m. PDT·7 min read

NTELF
-3.09%

SASKF
-2.59%

VANCOUVER, British Columbia, March 25, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSXV: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce that shareholders (“92 Energy Shareholders”) of 92 Energy Limited (ASX: 92E) (“92 Energy”) have voted in favour of the previously announced Australian scheme (the “Scheme”) involving ATHA and 92 Energy at 92 Energy’s meeting of 92 Energy Shareholders.

In accordance with Listing Rule 3.13.2 of the Australia Securities Exchange (the “ASX”) and section 251AA of the Corporations Act 2001 (Cth), 92 Energy advises that the resolution to approve the Scheme as set out in the notice of meeting included as Annexure D of the scheme booklet released on the ASX on 21 February 2024 was passed by the requisite majorities of 92 Energy Shareholders.

In summary:

99.65% of the votes cast by 92 Energy Shareholders were in favour of the Scheme; and

94.62% of 92 Energy Shareholders present and voting (in person or by proxy, attorney or corporate representative) voted in favour of the Scheme.

Although 92 Energy Shareholder approval has been obtained, the Scheme remains subject to a number of customary conditions detailed in the amended and restated scheme implementation deed dated January 25, 2024, between ATHA and 92 Energy, including, without limitation, final approval of the Federal Court of Australia, final approval of the TSX Venture Exchange (the “TSXV”), and other customary closing conditions.

Subject to these remaining conditions being satisfied or waived (where applicable), implementation of the Scheme is expected to occur on or about Thursday, 11 April 2024 (Australia Time).

For additional information on the Scheme, please refer to ATHA’s news releases dated December 7, 2023, and January 25, 2024.

About ATHA

ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including two 100%-owned post discovery uranium projects (the Angilak Deposit located in Nunavut and CMB Discoveries in Labrador hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively) and the largest cumulative prospective exploration land package (6.5 million acres) in two of the world’s most prominent basins for uranium discoveries, ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. 1,2,3

For more information visit www.athaenergy.com.

For more information, please contact:

Troy Boisjoli
Chief Executive Officer
Email: [e-mail]
www.athaenergy.com

Neither the TSXV nor its Market Regulator (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

None of the securities to be issued pursuant to the Scheme have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Scheme are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

Historical Mineral Resource Estimates

All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.

Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:

This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.

Mineral resources which are not mineral reserves do not have demonstrated economic viability.

The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.

Contained value metals may not add due to rounding.

A 0.2% U3O8 cut-off was used.

The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.

The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.

As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.

The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).

A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.

Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:

Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.

Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:

The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.

Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.

A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to, among other things, the Scheme, the receipt of the required regulatory, stock exchange, court and other approvals, and the ability of ATHA and 92 Energy to successfully close the Scheme and the timing for same.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding the ability of ATHA and 92 Energy to satisfy the conditions imposed in connection with the completion of the Scheme, completion of the Scheme, receipt of required regulatory, court and stock exchange approvals, the ability of ATHA and 92 Energy to satisfy, in a timely manner, the other conditions to the closing of the Scheme, other expectations and assumptions concerning the Scheme, and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and 92 Energy have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of ATHA and 92 Energy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA and 92 Energy, are inherently subject to significant business, economic, competitive, political, and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA and 92 Energy to complete the Scheme or satisfy certain conditions precedent thereto; a material adverse change in the timing of any completion and the terms and conditions upon which the Scheme is completed; inability to satisfy or waive all conditions to closing the Scheme; the TSXV not providing approval to the Scheme and all required matters related thereto; the inability of the consolidated entity to realize the benefits anticipated from the Scheme and the timing to realize such benefits, including the exploration and drilling targets; unanticipated changes in market price for ATHA shares and/or 92 Energy shares; changes to ATHA’s and/or 92 Energy’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of each of ATHA and 92 Energy; treatment of the Scheme under applicable competition laws and the Investment Canada Act; regulatory determinations and delays; any impacts of COVID-19 on the business of the consolidated entity and the ability to advance its projects; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca, and filings of 92 Energy with the Australian regulatory authorities. Neither ATHA nor 92 Energy undertake to update any forward-looking information, except in accordance with applicable securities laws.

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ALX Resources Intersects Uranium Mineralization at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

https://www.newsfilecorp.com/release/202967

March 25, 2024 7:30 AM EDT | Source: ALX Resources Corp.

Vancouver, British Columbia--(Newsfile Corp. - March 25, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce an update on the 2024 winter drilling program at its 100%-owned Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project") located in the northern Athabasca Basin near the community of Stony Rapids, Saskatchewan. The second and third holes of the planned 6-hole program have intersected narrow intervals of uranium mineralization at or near the unconformity, based upon hand-held scintillometer readings on drill core, downhole gamma probe results, and visual observation of uranium minerals by ALX's geological team.

Hole GC24-02 (180 degree azimuth / -75 degree dip) was drilled at the intersection of east-west and north-northwest faults interpreted from the 2023 ground magnetic survey and intersected fracture-controlled and disseminated blebs of uranium mineralization at 0.8 metres below the unconformity, which was reached at a depth of 108.4 metres. An Exploranium GR-135 handheld scintillometer measured radioactivity of 220 counts per second ("cps") and a Mount Sopris 2PGA-1000 downhole gamma probe measured a radiometric peak of 3,321 cps within a 0.6 metre interval of anomalous radioactivity from 108.9 to 109.5 metres. Drill hole GC24-02 represents an approximately 470-metre step-out to the west of ALX's historical hole GC15-03 (0.143% U3O8 assay over 0.23 metres) and was collared approximately 350 metres to the southwest of Eldorado Nuclear's ("Eldorado") 1979 hole GC-15 (1,520 parts per million ("ppm") uranium over 0.13 metres) (see Figure 1).

Hole GC24-03 (180 degree azimuth / -69 degree dip) was drilled as a 25-metre westward step out of unconformity-related uranium mineralization in hole GC15-03 to test the continuity of an interpreted trend of anomalous uranium mineralization between GC15-03 and historical drill hole GC-15, which are 340 metres apart. Anomalous radioactivity and fracture-controlled uranium mineralization was intersected from 110.0 to 110.9 metres approximately 1.5 metres below the unconformity at 108.5 metres. The Exploranium GR-135 handheld scintillometer measured a peak radioactivity value of 190 cps and the Mount Sopris 2PGA-1000 downhole gamma probe measured a radiometric peak of 2,217 cps within the noted anomalous radioactive interval. Uranium mineralization was observed as coatings on fractures in the drill core at 110.2 metres as well as other fractures between 110.0 and 110.9 metres.



Hole GC24-03: Uranium Mineralization Observed in Fracture at 110.2 metres

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/202967_f5216833d4fe3b5e_001full.jpg

The 2024 winter drilling program at Gibbons Creek is planned for six holes totaling approximately 1,200 metres to test for unconformity-type and basement-hosted uranium mineralization in the eastern area of the Project. The program is anticipated to continue until the end of March or early April 2024, weather permitting. Weather conditions remain satisfactory for the operation of equipment and personnel and the work is proceeding as scheduled. Proximity to the community and infrastructure of Stony Rapids adds greatly to the efficiency of the exploration program for the procurement of supplies, rentals, fuel, and additional personnel when required.



Figure 1. Gibbons Creek Uranium Project 2024 Drilling Plan and Completed Holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/202967_f5216833d4fe3b5e_002full.jpg

2024 Option Earn-in Transaction

Gibbons Creek is currently the subject of an option earn-in transaction with Trinex Lithium Ltd., a wholly-owned subsidiary of Trinex Minerals Limited ("Trinex"), which is a publicly-traded mineral exploration company listed on the Australian Securities Exchange. Under the terms of binding letter agreement signed in February 2024, Trinex can earn an initial 51% interest and up to a 75% participating interest in the Project in two stages over a period of five years by making cash payments and common shares payments to ALX, and by incurring exploration expenditures at the Project (see ALX news release dated February 28, 2024).

About Gibbons Creek and the 2024 Drilling Program

Gibbons Creek consists of eight mineral claims comprising 13,864 hectares (34,258 acres) located along the northern margin of the Athabasca Basin.

The Project is located in a region that hosts numerous historical uranium occurrences, such as the Black Lake discoveries in several drill holes beginning in 2004, and the historical Nisto Mine, from which 500 tons of ore was shipped in 1950 to the historical Lorado Mill at Uranium City, SK, including 106 tons grading 1.6% U3O8 (Source: Saskatchewan Mineral Deposits Index, #1621). ALX holds an exploration permit for Gibbons Creek, good until October 2025, which allows for up to 20 diamond drill holes totaling approximately 5,000 metres, along with ground-based geophysics, prospecting, and geochemical sampling. Access to Gibbons Creek is via roads and trails that lead from the community of Stony Rapids, SK, which is connected to all-weather Highway 905, thereby creating flexibility for either summer or winter exploration programs. Stony Rapids has readily-available fuel, supplies and accommodations for field personnel, and an airport with daily flights to cities and towns in southern Saskatchewan.

Prior to commencement of the 2024 drilling program, ALX carried out a comprehensive review of Gibbons Creek historical exploration data and has integrated that information with the high-resolution magnetic and SGH geochemical surveys completed in November 2023. The historical data and the results of ALX's ground surveys on the 2023 exploration grid show important characteristics of the Project's potential to host uranium mineralization, which is demonstrated by the mineralization found in ALX's 2015 hole GC15-03 (0.13% U3O8 over 0.23 metres from 107.67 metres to 107.90 metres), in Eldorado's 1979 hole GC-15 (0.179% U3O8 over 0.13 metres from 134.11 to 134.24 metres) and in the current 2024 drilling program.

Statement of Qualified Person

Geochemical analyses on samples from ALX's 2015 drill hole described in this news release were carried out by Activation Laboratories in Ancaster, Ontario using Inductively-Coupled Plasma Mass Spectrometry ("ICP-MS") methods on both partial and total digestions. Eldorado's 1979 geochemical analyses were carried out by Bondar-Clegg & Company Ltd. Laboratories, Ottawa, Ontario using Atomic Absorption, Colormetric, Fluorometric and XRF methods, which were standard methods of that exploration era.

All drill core samples from the 2024 program will be shipped to the Saskatchewan Research Council Geoanalytical Laboratories ("SRC") in Saskatoon, Saskatchewan, an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. ALX requests multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES where applicable. One half of the split core samples are retained and the other half cores are sent to the SRC for analyses. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by ALX and SRC in accordance with industry-standard quality assurance/quality control ("QA/QC") procedures. Uranium assay samples will be conducted on samples that return greater than 500 ppm uranium in the initial ICP analyses.

All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.

The technical information in this news release has been reviewed and approved by Robert Campbell, P.Geo., who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in Canada, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 240,000 hectares of prospective lands in Saskatchewan, a stable jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, diamond deposits, and historical production from base metals mines.

ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project (now the subject of an option earn-in agreement with Trinex Minerals Limited), the Sabre Uranium Project, the Bradley Uranium Project, and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.

ALX also owns 100% interests in the Firebird Nickel Project, the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages).

ALX owns a 50% interest in eight lithium exploration properties staked in 2022-2023 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, a 100% interest in the Anchor Lithium Project in Nova Scotia, Canada, and 100% interests in the Crystal Lithium Project and the Reindeer Lithium Project, both located in northern Saskatchewan, Canada.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: [e-mail]

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"
Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: ALX's 2023 exploration results and 2024 exploration plans and preliminary results at the Gibbons Creek Uranium Project, ALX's ability to continue to expend funds on its mineral exploration projects, and the successful closing of the option earn-in transaction with Trinex Minerals Limited. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations, Metis communities and local landowners in the region, and the results of such consultations; and economic, competitive, governmental, societal, public health, weather, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if uranium, lithium, nickel, copper, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Nine Months Ended September 30, 2023, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: ALX Resources Corp.

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Fission Drilling Identifies New, Highly Prospective Areas on PLS Corridor

https://www.newswire.ca/news-releases/fission-drilling-identifies-new-highly-prospective-areas-on-pls-corridor-821505429.html

Fission Uranium Corp. Mar 25, 2024, 03:00 ET

[e-mail]
www.fissionuranium.com

TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU

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Traction Uranium: Hearty Bay Drilling Suggests Till Sampling May Lead to Source of Radioactive Boulders

https://ca.finance.yahoo.com/news/hearty-bay-drilling-suggests-till-070100103.html

Traction Uranium Corp.
Thu, March 21, 2024 at 12:01 a.m. PDT·3 min read

TRCTF
+2.86%

Drill Program Suspended Due to Early Ice Road Closure

Figure 1



Drilling Updated

CALGARY, Alberta, March 21, 2024 (GLOBE NEWSWIRE) -- Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) (the “Company” or “Traction”) announces the completion of a single sonic drill hole at the Hearty Bay Property (“The Property”) and the early suspension of the drill program due to deteriorating ice conditions on Lake Athabasca.

The use of a track mounted sonic drill has resulted in the recovery of till for the first time under the lake in the up-ice direction from the high grade boulder trains on Isle Brochet and resulted in the recovery of a complete intersect of the underlying glacial till. Initial interpretation of this unit is favorable and suggests less post depositional disturbance than assumed, supporting the theory that the glacial till in which the historic high grade boulder trains on Isle Brochet occur, does extend up ice under the lake towards a source location.

Importantly, this suggests that it will be possible to use the subglacial till sampling method to trace the dispersion of uraniferous till under the lake, and thus directly back to the source of the historic Isle Brochet high grade boulder trains.

The two previous sub glacial till programs completed by the geomorphological experts at Palmer Environmental Consulting in 2023 demonstrated a uranium geochemistry signature in the sub glacial till, a reliable sampling medium invulnerable to the effects of wave action, below the historic high grade boulder trains located on surface on Isle Brochet. The discovery of this 2.3 m thick till under the lake provides strong support for additional sub glacial till sampling to ultimately lead directly to the source from which the radioactive boulder trains on Isle Brochet originate.

Traction and F3 Uranium Corp. (“F3”) have also engaged Convolutions Geoscience to complete a constrained inversion of the ground gravity data collected in January and the ground VLF EM data collected in 2022. An inversion based structural interpretation will then be included for drill planning for the next program on the Property.



Drilling Updated

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e5fb2810-f200-4200-b193-6b68cef060ec

Qualified Person

The technical content of this news release has been reviewed and approved by Ken Wheatley, M.Sc, P. Geo., who is a Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. The information provides an indication of the exploration potential of the Company’s properties but may not be representative of expected results.

About Hearty Bay:

The Hearty Bay property consists of 7 contiguous mineral claims with an area of 11,173 ha. and is located on the north edge of the Athabasca Basin, 20 km west of the Fond-du-Lac uranium deposit and 60 km east of the Beaver Lodge uranium district. The property surrounds the historic Isle Brochet high grade boulder field, consisting of the Wolfe and Jackfish 1km long dispersal trains trending in a down-ice direction and containing reported historic assay values up to 3.54% U3O8. Approximately 600m to the northeast on the lake bottom a group of radioactive boulders were discovered reported to contain up to 1.4% U3O8. These boulders were both sandstone and altered basement rocks which forms the basis of the source to occur at or near the unconformity. The source of the boulders remains undetermined.

About Traction Uranium Corp.

Traction Uranium Corp. (CSE: TRAC) (OTC: TRCTF) (FRA: Z1K) is in the business of mineral exploration and the development of discovery prospects in Canada, including its two uranium projects in the world-renowned Athabasca Region.

We invite you to find out more about our exploration-stage activities across Canada’s Western region at www.tractionuranium.com.

On Behalf of The Board of Directors

Lester Esteban
Chief Executive Officer
[phone]
[e-mail]

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are "forward-looking statements." These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The CSE has neither approved nor disapproved the information contained herein.

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Stallion Uranium Provides Corporate Update

https://ca.finance.yahoo.com/news/stallion-uranium-provides-corporate-200500956.html

Stallion Uranium Corp.
Wed, March 20, 2024 at 1:05 p.m. PDT·5 min read

STLNF
+7.27%

VANCOUVER, British Columbia, March 20, 2024 (GLOBE NEWSWIRE) -- Stallion Uranium Corp. (the "Company" or "Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40) is pleased to provide a corporate update on Stallion’s current exploration efforts. Stallion holds the largest exploration land package in the Southwestern Athabasca Basin and are following their proven roadmap to discovery, learned through decades of exploration in the basin, to increase the probability of finding the next significant uranium discovery in the Athabasca Basin.

Stallion’s Maiden Drill Program

Stallion maiden drill program is underway, as announced on March 6th, and continues to be progressing. Stallion has planned 3 holes totaling 3,300m utilizing a diamond core drill to test for uranium mineralization on it’s 100% owned Appaloosa target. The target is a ~6 km long EM conductor located along the contact between the Beaverlodge and Taltson geological domains that can create an optimal location for uranium bearing fluid to concentrate. Each of the drill holes are focusing on a coincident gravity and magnetic lows associated with alteration which are known to be associated with uranium deposits. Given that these are the first drill holes on Stallion’s projects, data collected from each drill hole is actively being used to adjust and fine tune the next drill hole to enhance the outcomes of uranium mineralization. Stallion will be announcing any anomalous scintillometer results from the program as a preliminary indication of the presence of radioactive materials if they are encountered. Final assay results will be released when available and are expected in the summer of 2024 after lithogeochemical analysis is completed.

Stallion and Atha Energy JV Project

Stallion completed the largest single airborne geophysical survey in the southwestern Athabasca basin, as announced on February 22nd. This survey was able to uncover over 560km of conductive trends, a significant achievement in adding several new high priority target areas that could have the potential to host uranium mineralization. The preliminary results were released from the survey and the team is now working with Convolutions Geoscience to take the data through advanced processing and modeling. The advanced interpretation will allow for Stallion to pragmatically prioritize the key target areas for additional survey work as the target areas move along Stallion’s roadmap of discovery. The preliminary data indicate that these additional areas will provide the company with several tier one targets for drill testing.

Gunter Lake Project

Stallion has completed an airborne gravity survey over its 100% owned Gunter Lake project that was announced on January 31st. This survey utilized the latest technology to record the density in the underlying rocks and has now started to be processed. This data when compiled with VTEM survey data over the entire project and MobileMT data over the Coyote target will be interpreted to find the most prospective areas for drill targeting. Providing the company with further high priority target areas and potential drill ready targets.

Upper Mirror River Project

Stallion staked 6 new mineral claims this year, half announced January 17th and the remaining on February 28th, giving the company a new 100% owned, highly prospective project, covering 31,645 hectares. This project was staked to cover the extensions of conductive corridors that were newly discovered as part of the regional airborne survey completed over the Atha JV project. In uncovering unknown conductive trends Stallion continues to build on its advantage of completing the first effective survey work at scale across much of the southwestern Athabasca Basin. Stallion is evaluating the next steps across this project as it believes it will hold several kilometre long conductive corridors and when aligned with magnetic lows signatures are known to correlate with uranium mineralization, providing the company with additional high priority target areas.

Conclusion

Stallion has been executing on its roadmap to discovery by taking a land package of over 3,000 sq/km in the acclaimed yet under-explored southwestern Athabasca Basin from regional survey, all the way through to a maiden drill program. Stallion’s vision was to effectively explore at scale, knowing there is a high probability of have a world class uranium deposit in the southwestern Athabasca Basin at the depth’s of 300-1,000m, as there are over 1 billion pounds of uranium at the same depth in the eastern Athabasca Basin. Stallion is taking the unexplored southwestern basin through the work done in the 70’s and 80’s in the eastern basin, only aided with the use of the latest technological advancements. Following the proven roadmap to discovery the company has been able to uncover several high potential target areas from regional surveys. They have now advanced the compelling Appaloosa target through advanced ground surveys and are currently in the process of drill testing. Simultaneously the company is upgrading additional target areas to have multiple tier one targets that all have the potential of hosting a world class uranium deposit.

Qualifying Statement

The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.

About Stallion Uranium

Stallion Uranium is working to Fuel the Future with Uranium through the exploration of over 3,000 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy (CSE:SASK), holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.

Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties.

Stallion offers optionality with two gold projects in Idaho and Nevada that neighbour world class gold deposits offering exposure to upside potential from district advancement with limited capital expenditures.

For more information visit stallionuranium.com or contact:

Drew Zimmerman
Chief Executive Officer
778-686-0973
[e-mail]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to the Company’s current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as “will likely result”, “are expected to”, “expects”, “will continue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, “projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.

Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement.

[Lone Clone]

Greenridge Exploration Announces Partnership with KorrAI Technologies

https://ca.finance.yahoo.com/news/greenridge-exploration-announces-partnership-korrai-120000462.html

Greenridge Exploration Inc.
Wed, March 20, 2024 at 5:00 a.m. PDT·4 min read

GXP.CN
0.00%

Highlights

The Company will leverage KorrAI’s advanced earth observation technology in identifying mineralized outcrops across the Nut Lake Uranium Project.

The Technology integrates artificial intelligence, machine learning, and advanced satellite imagery to find areas of interest.

The integration of KorrAI’s Technology may potentially boost the efficiency and precision of the Company’s future exploration programs.

The Company will hopefully benefit from KorrAI's advanced technology systems, which promises to deliver exceptionally reliable data.

VANCOUVER, British Columbia, March 20, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | FRA: HW3), is pleased to announce it has entered into a partnership agreement dated March 19, 2024 (the "KorrAI Agreement") with KorrAI Technologies Inc. (“KorrAI”) to implement its hyper-spectral imaging technology (the "Technology") on the Company’s Nut Lake Uranium Project (the “Project”).

KorrAI will apply its proprietary Technology on the Project to identify areas of interest for ground exploration for the Company’s 2024 exploration program. The Technology will hopefully allow the Company to be more efficient in the potential discovery of mineralized outcrops by leveraging revolutionary systems across the entire Project. Pursuant to the KorrAI Agreement, KorrAI shall provide technology solutions to the Company using geospatial imagery, modelling and survey & sensor data relevant to the natural resources sector (the "Services") under individual statement of works (each, a "Statement of Work"). Either KorrAI or the Company may terminate the KorrAI Agreement by providing written notice at any time following completion of the Services under each existing Statement of Work.

Historical drilling on the Project intersected up to 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth and high-grade samples of up to 4.36% U3O8, 53.16 oz/t Ag, 1.15% Pb and 7.0% Ni1.

Russell Starr, Chief Executive Officer of the Company, commented, “We are thrilled to be collaborating with KorrAI and using their Technology to aid us in identifying mineralized outcrops across the Nut Lake Uranium Project. KorrAI’s Technology will not only provide us with exceptional data but also hopefully boost the efficiency and accuracy of our planned exploration program and allow us to use this Technology for future projects.”

KorrAI is an advanced earth observation technology company and is using advanced satellite imagery, integrated artificial intelligence, and machine learning to identify undiscovered mineralized outcrops. KorrAI’s proprietary technologies and processes fuse a variety of datasets and integrate known mineralized analogues and other internal company data to identify priority areas of interest. The exploration tool is a cost effective and systematic approach to identifying targets for prospecting follow-up over highly prospective trends and areas of interest.

Rob McEwan, President of KorrAI, commented,”We are extremely excited to be working with Greenridge, particularly due to the exceptional promise of their property, the Nut Lake Uranium Project. We look forward to using our cutting-edge Technology to provide Greenridge with the highly reliable data to run a more streamlined exploration program at their Project.”

About KorrAI Technologies

KorrAI is an industry pioneer in providing remote monitoring solutions aimed at reducing operational risk. By leveraging satellite and geological data alongside advanced AI technologies, KorrAI detects and analyzes features and changes in Earth systems. Their system employs a robust and quantitative approach, effectively mitigating risks associated with exploration projects.

Extension of Marketing Agreement

The Company is also pleased to announce, further to its news release on January 10, 2024, that it has increased its engagement of marketing services with MIC Marketing Information & Content Publishing GmbH (“MIC”) (address: Gerhart-Hauptmann-Str. 49b 51379 Leverkusen, Germany; email: [e-mail]). MIC was originally retained by the Company on January 9, 2024 to provide marketing services for a term of 6 months, commencing January 18, 2024 (the “MIC Agreement”). Pursuant to the terms of the MIC Agreement, the Company has decided to execute its option to increase the advertising budget for the existing term by compensating MIC an additional €100,000.

MIC is an independent company which will, as appropriate, provide project management and consulting for an online marketing campaign, coordinate marketing actions, maintain and optimize AdWords campaigns, adapt AdWords bidding strategies, optimize AdWords ads and create and optimize landing pages (the “Marketing Services”). The promotional activity will occur in Europe by email, Facebook, and Google.

The Company will not issue any securities to MIC as compensation for the Marketing Services. As of the date hereof, to the Company’s knowledge, MIC (including its directors and officers) does not own any securities of the Company and has an arm’s length relationship with the Company.

National Instrument 43-101 Disclosure

Nicholas Rodway, P. Geo, (NAPEG Licence # L5576) is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this release.

References

1 Source: 1978 Assessment report (number 81075) by Pan Ocean Oil Ltd
2Source: Reported by ValOre Metals Corp. in a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geo. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013. Note: The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).

About Greenridge Exploration Inc.

Greenridge Exploration Inc. (CSE: GXP | FRA: HW3) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in North America. The Company’s Nut Lake Uranium Project located in the Thelon Basin includes historical drilling which intersected up to 9ft of 0.69% U3O8 including 4.90% U3O8 over 1ft from 8ft depth¹. Additionally, the Company’s Weyman Copper Project in southeast British Columbia sits on the south portion of the famous Quesnel Terrance. The Company is led by an experienced management team and board of directors with significant expertise in capital raising and advancing mining projects.

On Behalf of the Board of Directors

Russell Starr
Chief Executive Officer, Director
Telephone: [phone]
Email: [e-mail]

Disclaimer for Forward-Looking Information

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are "forward-looking statements". Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; statements with respect to the provision of the Technology and Services by KorrAI under the KorrAI Agreement; the Company's anticipated exploration program at the Project; expected benefits of using the Technology and Services and the Company's partnership with KorrAI under the KorrAI Agreement; statements with respect to the provision of the Marketing Services by MIC. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.

The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.

[Lone Clone]

Premier American Uranium Bolsters Its Leadership in the Industry with the Acquisition of American Future Fuel and Welcomes Renowned Uranium Expert Colin Healey as CEO

https://ca.finance.yahoo.com/news/premier-american-uranium-bolsters-leadership-110000977.html

American Future Fuel Corporation
Wed, March 20, 2024 at 4:00 a.m. PDT·23 min read

AFFCF
0.00%

PAUIF
+0.92%

Figure 1:



Known Uranium Deposits at the Cebolleta Project.
Figure 2:



Cebolleta and St. Anthony Areas showing historical drilling. Only the Cebolleta area is included in the historical inferred mineral resource estimate, providing near-term exploration potential on the Project.

TORONTO, March 20, 2024 (GLOBE NEWSWIRE) -- Premier American Uranium Inc. (“PUR” or “Premier American Uranium”) (TSXV: PUR) and American Future Fuel Corporation (“AMPS” or “American Future Fuel”) (CSE: AMPS, OTCQB: AFFCF, FWB: K14, WKN: A3DQFB) are pleased to announce that they have entered into an arm’s length definitive agreement (the “Arrangement Agreement”) on March 19, 2024, pursuant to which Premier American Uranium will acquire all of the issued and outstanding common shares of American Future Fuel (the “AMPS Shares”) by way of a court-approved plan of arrangement (the “Arrangement” or the “Acquisition”). American Future Fuel owns a 100% lease-hold interest in the Cebolleta Uranium Project (“Cebolleta” or the “Project”) located within the Grants Mineral Belt of New Mexico, United States, an area that is host to one of the largest concentrations of sandstone-hosted uranium in the world and is the fourth largest uranium district in the world.

PUR is also pleased to announce the appointment of Colin Healey as Chief Executive Officer, effective immediately. Colin holds a Masters Degree in Business Administration and is a Mechanical Engineering Technician with over 20 years experience, the majority of which was spent as a mining research analyst at a recognized Canadian broker dealer covering uranium and other commodities. Tim Rotolo is now Chairman of the Board of Directors (the “PUR Board”).

Under the terms of the Arrangement, shareholders of American Future Fuel (“AMPS Shareholders”) will receive 0.170 of a common share of Premier American Uranium (each whole share, a “PUR Share”) for each AMPS Share held (the “Exchange Ratio”). Existing shareholders of Premier American Uranium and American Future Fuel will own approximately 64.2% and 35.8% (on a basic basis), respectively, of the pro forma outstanding PUR Shares on closing of the Arrangement. The Exchange Ratio implies consideration of C$0.507 per AMPS Share based on the closing price of PUR Shares on the TSX Venture Exchange (the “TSXV”) on March 19, 2024. The Exchange Ratio implies a premium of 66.1% to the closing price of the AMPS Shares on the Canadian Securities Exchange (the “CSE”) and a 57.3% premium to the 20-day volume weighted average price (VWAP) of AMPS Shares on the CSE for the period ending March 19, 20241. The implied equity value of the combined company (the “Company”) is estimated at approximately C$129 million2.

To view a summary of today’s news release delivered by Tim Rotolo, Chairman of PUR, Colin Healey, CEO of PUR and David Suda, CEO of AMPS, click here.

Strategic Rationale for the Acquisition

Builds Critical Mass in the U.S.: Consistent with PUR’s opportunistic M&A strategy, this Arrangement positions the Company in three of the top uranium districts in the U.S., including the Grants Mineral Belt in New Mexico, the Great Divide Basin of Wyoming, and the Uravan Mineral Belt of Colorado, while adding past production on private land to the portfolio.

Enhances Capital Markets Profile and Shareholder Base: The pro forma Company is expected to have a market capitalization of over ~C$129 million and ~C$11 million3 in combined cash to fund exploration, allowing increased access to capital and trading liquidity. Additionally, the Company is expected to have a suite of uranium corporate and institutional investors including, Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd., and enCore Energy Corp.

Adds an Advanced Project in a Top Uranium District:

Cebolleta has a historical inferred mineral resource estimate of 5.6Mt at an average grade of 0.171% U3O8 containing approximately 18.9M lbs U3O84;

Past production of 3.8M lbs U3O8 (1975-1990)5 produced from the JJ#1 and St. Anthony Mines is adjacent to 100M lbs U3O8 of historic production from the Grants Mineral Belt (4th largest uranium district in the world)6;

Two target areas that host several shallow, semi-contiguous deposits;

Extensive historical exploration including approximately 569,000m drilled in 3,594 holes ($75 million of historical expenditures); and

6,700 acres of mineral rights, and 5,700 acres of surface rights on private land, providing permitting advantages.

Provides Significant Exploration Upside:

AMPS’ 2023 drill program confirmed reliability of historical data, which may support the preparation of a current compliant resource estimate, which is expected to be completed in the near term;

The historical inferred mineral resource estimate excludes known uranium mineralization from the St. Anthony area, which produced 1.6M lbs U3O8 (1975 to 1980) and hosts two deposits that could potentially connect to the area that hosts the historical Cebolleta historical inferred mineral resource estimate; and

Additionally, exploration potential has been identified in the Westwater Canyon Member of the Morrison Formation, approximately 100m beneath the current defined mineralized horizon, and is the principal host rock in the Grants Mineral Belt, which hosts +300M lbs of uranium resources, which remains unexplored at Cebolleta7.

Tim Rotolo, Chairman of Premier American Uranium commented, "The announcement made today marks a significant leap in our journey to strengthen our foothold in the U.S. uranium market through opportunistic and strategic M&A. By acquiring a key project, we're not just enriching our portfolio; we're also setting our roots in three principal uranium regions, paving the way for rapid growth. Additionally, I am excited to introduce Colin as the newest member of our team. His profound knowledge of the uranium industry, together with our unparalleled technical skills, places us in an advantageous position in what is arguably the most promising uranium territory in the United States.”

Colin Healey, CEO of Premier American Uranium commented, “I am extremely excited to be joining Premier American Uranium at a time when uranium sector fundamentals are the strongest I have witnessed in my career and poised to accelerate, backed by a global push toward net-zero emissions. ‘Company building’ is a foundational part of Premier American Uranium’s DNA and I look forward to working with this incredibly talented and experienced team to continue to shape that legacy, executing on a multi-pronged growth strategy that includes plans to unlock value within the current portfolio of uranium properties through exploration, resource delineation and development, systematically de-risking the assets. In parallel, PUR will continue to leverage its deep knowledge of the premium uranium districts of the United States and plans to accretively expand our project pipeline through acquisition. Today’s transaction represents a significant step in our asset building strategy, targeting sizable historic inferred resources on past-producing land in New Mexico’s Grants Mineral Belt, which has a prolific history of uranium production.”

Benefits to American Future Fuel Shareholders

Significant and Immediate Premium: The Exchange Ratio represents a 57.3% premium to the 20-day VWAP of the AMPS Shares on the CSE for the period ended March 19, 20248.

Diversified Exposure to Top U.S. Uranium Districts: AMPS Shareholders will retain approximately 35.8% ownership in the Company and mitigate single asset risk by gaining exposure to Premier American Uranium’s five projects in Colorado and Wyoming, which includes a past-producing mine.

Bolstered Capital Markets Profile: The Company will have a market capitalization of over C$129 million and approximately C$11 million2 in cash, an enhanced ability to raise capital, increased trading liquidity, a broader shareholder base and sell-side research coverage.

Aligning with a Team and Strategy with Proven Results: Premier American Uranium has unparalleled U.S. uranium exploration, development, permitting and operating experience, along with corporate finance and M&A expertise with proven results. AMPS Shareholders can expect to benefit from a disciplined and opportunistic M&A strategy, focused on building critical mass in the U.S.

David Suda, CEO of American Future Fuel commented, “We are thrilled to announce this transaction with Premier American Uranium, presenting our shareholders with an unparalleled opportunity to join forces with a dynamic company with a proven growth strategy. This Arrangement provides an immediate premium, and tangible benefits, including diversifying our exposure to multiple assets across three of the top uranium districts in the U.S., removing our single asset risk and enhancing our profile with a strong network of corporate and institutional investors, which will complement our existing register. The seasoned team driving PUR brings with it a wealth of expertise garnered over decades in the uranium sector, and as President, upon completion of the Arrangement, I look forward working alongside them to drive the narrative forward and spearhead Cebolleta's imminent advancement."

About the Cebolleta Project

Cebolleta is an advanced uranium exploration project located in Cibola County, New Mexico. The Project is approximately 35 miles (56km) west of Albuquerque and lies within the prolific Grants Mineral Belt, one of the largest concentrations of sandstone-hosted uranium deposits in the world. The Grants Mineral Belt has historically produced 347M lbs U3O8, or ~37% of all uranium produced in the United States.6 American Future Fuel has a 100% lease-hold interest in Cebolleta (6,700 acres mineral rights, 5,700 acres surface rights), which is comprised of multiple known uranium deposits and several previously operating uranium mines.

Cebolleta has been subject to extensive exploration and development from the 1950s through the 1980s. Past efforts revealed several significant sandstone-hosted uranium deposits ranging from 200 to 800ft (60-240m) deep in the Jurassic Jackpile Sandstone. These deposits were amenable to both surface and underground mining, which culminated from 1975-1981 when over 3.8M lbs U3O8 was produced from the JJ#1 and St. Anthony Mines4.

The vast majority of known uranium mineralization still exists at Cebolleta – namely from the Sohio Area (mineralization in Areas I-V) and the St. Anthony Area (mineralization adjoining the St. Anthony open pits and the Willie P underground mine) (Figure 1).

Figure 1: Known Uranium Deposits at the Cebolleta Project.



Known Uranium Deposits at the Cebolleta Project.
The Sohio Area (Cebolleta Area) of the Project is host to a historical uranium Inferred Mineral Resource (Table 1) according to a 2014 Technical Report commissioned by the previous owner, Uranium Resources, Inc.4 The reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current Mineral Resource and neither American Future Fuel nor Premier American Uranium is treating the historical estimate as a current Mineral Resource. The St. Anthony deposits, in and adjoining the St. Anthony open pits, have not been modeled, as the large amount of historical data for St. Anthony has not yet been synthesized into a database for resource modeling and estimation. The Company believes the St. Anthony Area mineralization represents exploration potential for the Project (Figure 2).

Table 1: Cebolleta Area Historical (2014) Inferred Resource Estimate

Area

Cut-Off
(% eU3o8)

Tons
(000s)

Grade
(% eU3o8)

Contained
(000s lbs U3o8)

Area I-II-IV

0.08

4,564

0.173

15,748

Area III

0.08

998

0.162

3,232

Total

0.08

5,562

0.171

18,980


Notes:

Technical report prepared for Uranium Resources, Inc. entitled “NI 43-101 Technical Report on Resources Cebolleta Uranium Project Cibola County, New Mexico, USA.” By A.V. Moran and F. Daviess with an effective date of March 24, 2014.

The quantity and grade of reported Inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to verify these Inferred resources as an Indicated or Measured mineral resource and it is uncertain if further exploration will result in upgrading them to an Indicated or Measured mineral resource category;

Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Mineral Reserves;

Mineral Resources are reported in accordance with Canadian Securities Administrators (CSA) National Instrument 43-101 (NI 43-101) and have been estimated in conformity with generally accepted Canadian Institute of Mining, Metallurgy and Petroleum (CIM) "Estimation of Mineral Resource and Mineral Reserves Best Practices" guidelines;

Resources are stated at a 0.08% eU3O8 cut-off grade; sufficient to define potentially underground mineable resources; however mineable underground shapes have not yet been defined;

The lower cut-off was ascertained using a uranium price of US$50.00/lb, at the current Term Price, underground mining costs at US$60/ton, and milling plus G&A costs at US$16.50/ton;

A tonnage factor of 16.0 cubic ft per ton was used for all tonnage calculations;

Mineral resource tonnage and contained metal have been rounded to reflect the accuracy of the estimate, and numbers may not add due to rounding;

Resources are reported on a 100% basis for URRE controlled lands, as in-situ resources without reference to potential mineability except for the referenced cut-off grade; and

The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues, although the Company is not aware of any such issues.

Figure 2: Cebolleta and St. Anthony Areas showing historical drilling. Only the Cebolleta area is included in the historical inferred mineral resource estimate, providing near-term exploration potential on the Project.



Cebolleta and St. Anthony Areas showing historical drilling. Only the Cebolleta area is included in the historical inferred mineral resource estimate, providing near-term exploration potential on the Project.

Board of Directors and Management Team

Upon completion of the Arrangement, the PUR Board will be comprised of six directors including (i) the four directors currently on the PUR Board, and (ii) two directors to be mutually agreed upon by American Future Fuel and Premier American Uranium. Tim Rotolo will continue to serve as the Chairman of the PUR Board.

Upon completion of the Arrangement, the senior management team is expected remain the same with Colin Healey as Chief Executive Officer, and Greg Duras as Chief Financial Officer. David Suda, current CEO of AMPS is expected to join PUR as President.

In connection with Mr. Healey’s appointment, pursuant to PUR’s long term incentive plan, Premier American Uranium has granted him options to purchase 300,000 PUR Shares and 100,000 restricted share units. The options are exercisable at a price of $2.98 per PUR Share for a period of five years and vest as follows: one-third vesting immediately, one-third vesting after six months and one-third vesting after one year. The restricted share units, each of which entitles the holder to receive one PUR Share, vest as follows: one-third vesting after one year, one-third vesting after two years and one-third vesting after three years. The options and restricted share units are subject to approval of the TSXV.

Board of Directors’ Recommendations

The Arrangement has been unanimously approved by the Board of Directors of American Future Fuel (the “AMPS Board”) and the AMPS Board unanimously recommends that AMPS Shareholders vote in favour of the Arrangement. Cairn Merchant Partners LP (“Cairn”) provided a fairness opinion to the AMPS Board, stating that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications stated in its opinion, the consideration to be received by the American Future Fuel shareholders (other than Sachem Cove) pursuant to the Arrangement is fair, from a financial point of view, to the American Future Fuel shareholders (other than Sachem Cove).

The Arrangement has also been unanimously approved by the PUR Board, with the exception of Tim Rotolo who did not vote with respect to the Arrangement.

Material Conditions to Completion of the Transaction

The Arrangement will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia), requiring the approval of (i) at least 662/3% of the votes cast by AMPS Shareholders, and (ii) if applicable, a simple majority of the votes cast by AMPS Shareholders, excluding certain related parties as prescribed by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, voting in person or represented by proxy at a special meeting of AMPS Shareholders to consider the Arrangement (the “AMPS Meeting”). An information circular regarding the Arrangement will be filed with regulatory authorities and mailed to AMPS Shareholders in accordance with applicable securities laws. The Arrangement is expected to be completed in the second quarter of 2024, subject to satisfaction of the conditions under the Arrangement Agreement.

Each of the directors and executive officers of American Future Fuel, along with certain key shareholders, including Sachem Cove Partners, representing an aggregate of approximately 6.54% of the issued and outstanding AMPS Shares, have entered into voting support agreements with Premier American Uranium and have agreed, among other things, to vote their AMPS Shares in favour of the Arrangement.

In addition to shareholder and court approvals, closing of the Arrangement is subject to applicable regulatory approvals including, but not limited to, TSXV approval and the satisfaction of certain other closing conditions customary in transactions of this nature.

The Arrangement Agreement customary representations and warranties for a transaction of this nature as well as customary interim period covenants regarding the operation of American Future Fuel and Premier American Uranium’s respective businesses. The Arrangement Agreement also provides for customary deal protection provisions, including non-solicitation covenants of American Future Fuel, “fiduciary out” provisions in favour of American Future Fuel and “right-to-match superior proposals” provisions in favour of Premier American Uranium. In addition, the Arrangement Agreement provides that, under certain circumstances, Premier American Uranium would be entitled to a C$1 million termination fee.

Following completion of the Transaction, the PUR Shares will continue trading on the TSXV and the AMPS Shares will be de-listed from the CSE.

Premier American Uranium and American Future Fuel will file material change reports in respect of the Arrangement in compliance with Canadian securities laws, as well as copies of the Arrangement Agreement and the voting support agreements, which will be available under Premier American Uranium’s and American Future Fuel’s respective SEDAR+ profiles at www.sedarplus.ca.

Full details of the Arrangement will also be included in the management information circular of American Future Fuel to be delivered to AMPS Shareholders in respect of the AMPS Meeting, which will be available under American Future Fuel’s SEDAR+ profile.

Advisors and Counsel

Cassels Brock & Blackwell LLP is acting as legal counsel and Red Cloud Securities Inc. is acting as financial advisor to Premier American Uranium in connection with the Arrangement.

Farris LLP is acting as legal counsel and Cormark Securities Inc. is acting as financial advisor to American Future Fuel in connection with the Arrangement. Cairn Merchant Partners LP has provided a fairness opinion to the AMPS Board.

Technical Disclosure and Qualified Person

The scientific and technical information contained in this news release was reviewed and approved on behalf of American Future Fuel by Mark Mathisen, CPG, SLR International Corporation, Denver, CO, an independent geological consultant to the company, who is a “Qualified Person” as defined in NI 43-101.

About Premier American Uranium
Premier American Uranium Inc. is focused on the consolidation, exploration, and development of uranium projects in the United States. One of PUR’s key strengths is the extensive land holdings in two prominent uranium-producing regions in the United States: the Great Divide Basin of Wyoming and the Uravan Mineral Belt of Colorado. With a rich history of past production and historic uranium mineral resources, PUR has work programs underway to advance its portfolio.

Backed by Sachem Cove Partners, IsoEnergy and additional institutional investors, and an unparalleled team with U.S. uranium experience, PUR’s entry into the market comes at a well-timed opportunity, as uranium fundamentals are currently the strongest they have been in a decade.

About American Future Fuel
American Future Fuel Corporation is a Canadian-based resource company focused on the strategic acquisition, exploration and development of alternative energy projects. The Company holds a 100% interest in the Cebolleta Uranium Project, located in Cibola County, New Mexico, USA, and situated within the Grants Mineral Belt, a prolific mineral belt responsible for approximately 37% of all uranium produced in the United States of America.

For More Information, Please Contact:

Premier American Uranium Inc.
Tim Rotolo, Chairman

[e-mail]
Toll-Free: 1-833-572-2333
Twitter: @PremierAUranium
www.premierur.com

American Future Fuel Corporation
David Suda, CEO and Director

[e-mail]
www.americanfuturefuel.com

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that Premier American Uranium and American Future Fuel expect or anticipate will or may occur in the future including, but not limited to, the timing and outcome of the Transaction, including required shareholder, regulatory, court and stock exchange approvals, the anticipated benefits of the Arrangement to the parties and their respective shareholders, anticipated strategic and growth opportunities for the Company, expectations regarding the U.S. uranium industry, including the demand for uranium, the prospects of the Cebolleta Project, including mineralization of the Cebolleta Project and plans with respect to preparation of a current mineral resource estimate on the Cebolleta Project, the anticipated timing of completion of the Arrangement, Premier American Uranium’s strategy, plans or future financial or operating performance, any expectations with respect to defining mineral resources or mineral reserves on any of Premier American Uranium’s projects, expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development and any other activities, events or developments that the companies expect or anticipate will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including assumptions regarding the combined company following completion of the Arrangement, that the anticipated benefits of the Arrangement will be realized, that the historical mineral resource estimate for the Cebolleta Project can be converted into a current mineral resource estimate, completion of the Arrangement, including receipt of required shareholder, regulatory, court and stock exchange approvals, the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement, other expectations and assumptions concerning the Arrangement changing, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the parties’ planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by Premier American Uranium and American Future Fuel in providing forward-looking information or making forward-looking statements are considered reasonable by management of each company at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: the failure to obtain shareholder, regulatory, court or stock exchange approvals in connection with the Arrangement, failure to complete the Arrangement, failure to realize the anticipated benefits of the Arrangement or implement the business plan for the combined company, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known current mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals and the risk factors with respect to Premier American Uranium set out in the Form 2B Listing Application of Premier American Uranium dated November 27, 2023 and with respect to American Future Fuel set out in American Future Fuel’s management discussion and analysis for the year and the fourth quarter ended December 31, 2022, each of which have been filed with the Canadian securities regulators and available under Premier American Uranium’s and American Future Fuel’s respective profiles on SEDAR+ at www.sedarplus.ca.

Although Premier American Uranium and American Future Fuel have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. Premier American Uranium and American Future Fuel undertake no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

1 Premium is calculated using the 20-day VWAP of PUR Shares and AMPS Shares over all Canadian exchanges for the period ending March 19, 2024.
2 Calculated using the closing share price of PUR Shares on the TSXV on March 19, 2024 and the pro forma basic shares outstanding of the combined company.
3 Based on public disclosure as of September 30 2023, adjusted for the December 2023 private placement for gross proceeds of C$3.45M.
4 This estimate is considered to be a “historical estimate” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and is not considered by American Future Fuel or Premier American Uranium to be current. See “NI 43-101 Technical Report on Resources Cebolleta Uranium Project, Cibola County, New Mexico, USA” with an effective date of date of March 24, 2014. The historical Cebolleta mineral resource estimate presented herein use the appropriate mineral resource categories and modern statistical techniques as per CIM Definition Standards on Mineral Resources & Reserves (2014), however, a Qualified Person (QP) does not have enough information to verify the resource estimate as a current mineral resource, as per the CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (2019), therefore the estimate is considered historical in nature. The historical resource estimation discussed is relevant in that it was prepared and calculated by reputable companies that were intimately familiar with, and knowledgeable about, the property and the geology and resource potential of the Project. The historical resource does provide an indication of the extent of mineralization identified by previous operators at the Project. A QP has not done sufficient work to classify the historical estimate as a current mineral resource, therefore, the historical estimate is not being treated as a current resource.
5 NI 43-101 Technical Report on Resources Cebolleta Uranium Project Cibola County, New Mexico, USA – effective date March 24, 2014.
6 The Jackpile-Paguate Uranium Mine, Grants Uranium District: Changes in perspectives from production to superfund site Virginia T. McLemore, Bonnie A. Frey, Ellane El Hayek, Eshani Hettiarachchi, Reid Brown, Olivia Chavez, Shaylene Paul, and Milton Das.
7 Uranium resources in the Grants uranium district, New Mexico: An update Virginia T. McLemore, Brad Hill, Niranjan Khalsa, and Susan A. Lucas Kamat 2013.
8 Premium is calculated using the 20-day VWAP of PUR Shares and AMPS Shares over all Canadian exchanges for the period ending March 19, 2024.

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/900698b7-a818-4775-9947-54e6a0bcbe65https://www.globenewswire.com/NewsRoom/AttachmentNg/a86e9cfa-07d6-41e7-b792-55b2b32c6d7b

[Lone Clone]

North Shore Uranium Completes Maiden Drill Program at Falcon; Elevated Radioactivity, Fault Zones and Alteration Identified

https://www.accesswire.com/844733/north-shore-uranium-completes-maiden-drill-program-at-falcon-elevated-radioactivity-fault-zones-and-alteration-identified

Wednesday, 20 March 2024 07:00 AM

VANCOUVER, BC / ACCESSWIRE / March 20, 2024 / North Shore Uranium Ltd. (TSXV:NSU)

[Lone Clone]

ATHA Energy Provides Update on 2024 Exploration Program

https://ca.finance.yahoo.com/news/atha-energy-provides-2024-exploration-110000869.html

ATHA Energy Corp.
Wed, March 20, 2024 at 4:00 a.m. PDT·15 min read

SASKF
+1.54%

NTELF
0.00%

LUR.CN
0.00%

Figure 1



Figure 1: Plan Map detailing the Angilak Project location within Nunavut
Figure 2



Figure 2: ATHA Energy Land Package & Exploration Districts

2024 EXPLORATION PROGRAM HIGHLIGHTS & UPDATE TO 92 ENERGY TRANSACTION:

ATHA begins the Company’s most significant exploration program to date, targeting Canada’s most prospective regions for high-grade uranium discovery, including: the Angilak Project in Nunavut and maturation of ATHA’s tier one exploration portfolio in the Athabasca Basin

ATHA’s proposed transaction with 92 Energy is expected to close on or about April 11, 2024, at which point the development of 92 Energy’s portfolio – including the Gemini Project that is host to the newly discovered, high-grade GMZ Corridor – will become a primary focus for ATHA’s 2024 exploration program. ATHA will provide a detailed update after the close of the transaction with 92 Energy.

Angilak Project: The Angilak Project is host to the Lac 50 Uranium Deposit, which is one of the largest high-grade deposits outside of the Athabasca Basin, with a historical mineral resource estimate of 43.3M lbs at an average grade of 0.69% U3O8.1

Latitude Uranium recently completed (September 2023) a diamond drill-based exploration program comprising a total of 18 holes (5,665 meters). The 2023 Program focused on delineation and expansion of the Main Zone within the Lac 50 Deposit, and successfully achieved all objectives – highlighted by:

Extension of known mineralization along strike and at depth within the Main Tuff Horizon, demonstrated by drill hole 23-LC-005 – designed to infill a 100 m gap in historic drilling – intersected grades of up to 7.54 % U3O8 over 1.6 m and represents continuity of high-grade mineralization at depth.

Discovery of a new lens of uranium mineralization within the Lac 50 Deposit

Increased understanding of structural controls on uranium mineralization and identification of similar settings at regional prospective targets

Angilak Project 2024 Exploration Programs builds upon the work completed by Latitude Uranium:

Phase I (diamond drilling): A ~10,000m diamond drilling program is planned to begin June 2024, targeting expansion of the Lac 50 Deposit, which remains open in all directions. Exploration drilling is also expected to test high-priority targets on parallel structures to Lac 50 that were previously identified as being prospective to host uranium mineralization.

Phase II (geophysics & ground geochemistry): In concert with the Phase I diamond drilling program, ATHA will also undertake a targeted airborne geophysics program comprised of electromagnetic (“EM”), Mag, and VLF survey types in addition to targeted ground geochemistry sampling and mapping. The objective of Phase II is to identify and derisk a pipeline of additional high-priority targets for future exploration programs.

Athabasca Basin Exploration: In addition to proposed work on 92 Energy’s portfolio of projects post transaction with 92 Energy, ATHA is planning to further advance and develop nine of its wholly-owned high-priority projects within its four Athabasca Exploration Districts (North Rim, Cable Bay, East Rim and West Rim) covering all currently producing, past producing, and developing uranium mining jurisdictions within the Athabasca Basin – home to the highest grade uranium deposits and mines globally. The objective of the 2024 Athabasca Basin Exploration Program is to advance ATHA’s exploration model, generating additional high-priority targets for future drill programs.

ATHA plans to employ a combination of EM, Gravity, and Ambient Noise Tomography (“ANT”) survey types.

The Athabasca Basin Exploration Program is currently underway and is projected to continue through the end of Q3 2024.

VANCOUVER, British Columbia, March 20, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSX.V: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA” or the “Company”), holder of the largest uranium exploration portfolio in two of the highest-grade uranium districts in the world, is pleased to announce plans for its 2024 Exploration Program. At the 100%-owned Angilak Project in Nunavut, the Company will focus on diamond drilling with the objective of deposit expansion and discovery. In the Athabasca Basin, the Company will be further advancing nine of its 100%-owned projects through a combination of ground and airborne geophysical surveys. The objective of the Athabasca Basin Program is to continue to mature ATHA’s geological understanding within each of its projects, increasing the probability of discovery and optimise capital expenditure during future drill campaigns. Additionally, subject to the completion of the Company’s proposed scheme of arrangement (the “Scheme”) with 92 Energy Limited (ASX: 92E) ("92E”), development of 92 Energy’s projects, such as Gemini, which hosts the recently discovered high-grade GMZ showing, will be incorporated into the into the Company’s Athabasca Basin Exploration Program. The Company will provide an update inclusive of drilling plans for the Gemini project, post closing of the Scheme.

EXPLORATION OUTLOOK

Following ATHA’s recent closing of its acquisition of Latitude Uranium (CSE: LUR) (“Latitude”) and assuming the completion of the Scheme, ATHA expects to have a diversified portfolio of uranium projects across the exploration risk curve. Going forward, ATHA’s exploration approach is designed with the intention of providing maximum exploration exposure by investing at scale in a large number of early-stage projects, derisking those targets, and seeking to deliver advanced exploration upside through the expansion of known uranium deposits and discoveries. With the Company’s recently closed transaction with Latitude and subject to the completion of the Scheme, ATHA intends to leverage its robust cash position to pursue a fully-funded growth strategy with focus on:

Deposit and Discovery Expansion: Historical resource deposits at the Angilak Project and CMB Discoveries, as well as, subject to the completion of the Scheme, the GMZ Corridor (host to the Gemini Discovery), remain underexplored and are expected to provide significant resource and discovery expansion potential on a regional scale. Diamond drilling is planned for both Angilak and, subject to the completion of the Scheme, Gemini in Summer 2024.

Advanced Exploration: Drill ready targets on a number of advanced projects owned by ATHA and 92E have identified uranium mineralization, with active geophysical surveys informing future exploration programs within the Athabasca and Thelon Basins, as well as at the newly acquired Angilak Project.

Greenfield Exploration: Pro-forma land position of 7.1 million acres across some of the highest-grade uranium districts in the world provide ATHA with a robust pipeline of early-stage projects that are currently undergoing geophysical and geochemical analysis.

ANGILAK PROJECT – NUNAVUT

ATHA is pleased to announce exploration plans for the upcoming 2024 field season at it’s wholly owned Angilak Project, situated within the Angikuni Basin approximately 225 km southwest of Baker Lake in the Kivalliq Region of Nunavut (Figure 1). The Angilak Project is host to the Lac 50 Uranium Deposit, which has a historical mineral resource estimate of 43.3M lbs at an average grade of 0.69% U3O8.1



Figure 1

Figure 1: Plan Map detailing the Angilak Project location within Nunavut1

The 2024 Angilak exploration program will consist of diamond drilling, airborne geophysical surveys, and surficial sampling and mapping programs, prioritized to expand the footprint of known uranium mineralization, while also advancing regional exploration targets. Approximately 10,000m of diamond drilling is planned to be completed during the June to August time frame. Drill targeting will focus on the Lac 50 Deposit and mineralized corridor, targeting expansion of the deposit footprint both along strike and down-dip, as well as testing parallel structures which may host uranium mineralization. Diamond drilling will also test additional regional targets that have been identified through past exploration campaigns – the most recent of which was completed in 2023 by Latitude Uranium (acquired by ATHA). During Latitude’s most recent exploration program completed in the fall of 2023, the company reported uranium drill hole intersections with grades of up to 7.54 % U3O8 over 1.6 m from hole 23-LC-005, which targeted the Lac 50 Deposit.

ATHABASCA BASIN EXPLORATION PROGRAM

The Company’s 2024 Athabasca Basin Exploration Program is built upon the results from the maiden 2023 campaign, which saw the completion of 17 EM surveys within ATHA’s 3.8 million acres of mineral claims located in the Athabasca Basin. The objective of the 2024 Exploration program is to further mature nine high-priority project areas with the use of Airborne and Ground geophysical surveys. The surveys will target each of the Company’s four exploration districts – North Rim, Cable Bay, East Rim, and West Rim Exploration Districts – which encompass all currently producing, past producing and developing uranium mining jurisdictions within the Athabasca Basin.

The 2024 Athabasca Basin Exploration Program is already underway and is slated to continue through to the end of Q3 2024. The Program will deploy seven different airborne and ground survey types, consisting of: EM, Mag, Gravity, and ANT. The objective of the 2024 Athabasca Basin Program is to further delineate and refine prospective trends and corridors within Atha’s high-priority project areas in advance of drill testing.



Figure 2
Figure 2: ATHA Energy Land Package & Exploration Districts

Troy Boisjoli, CEO added: “The Company is excited to provide guidance on ATHA’s industry leading exploration plans. At the recently acquired Angilak Project, ATHA will be leveraging the expansion potential of one of the highest-grade uranium deposits globally outside of the Basin through a combination of diamond drilling and geophysics. In the Athabasca Basin, home to the highest-grade uranium deposits and mines globally, our program will focus on adding to our pipeline of exceptional drill ready targets. Additionally, we look forward to providing guidance on our exploration plans – inclusive of diamond drilling – on the Gemini Project which hosts the high-grade GMZ discovery. Our objective through 2024 is to continue to advance and develop our uranium assets within the world’s most prospective, highest grade uranium jurisdictions.”

Cliff Revering, VP Exploration added: “We are very excited to be commencing our 2024 exploration program on our pro-forma portfolio of diversified uranium projects. ATHA has a unique opportunity to leverage a strong balance sheet to invest at scale in a large number of early-stage exploration projects, while also providing significant exploration upside through advancement of our known uranium deposits and discoveries. These factors, combined with the strength of our technical team, provides unrivaled potential for delivering on our objective of defining the next generation of world-class uranium assets.”

Qualified Person

The scientific and technical information contained in this news release have been reviewed and approved by Cliff Revering, P.Eng., the Vice President, Exploration of ATHA, who is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About ATHA

ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including two 100%-owned post discovery uranium projects (the Angilak Deposit located in Nunavut and CMB Discoveries in Labrador hosting historical resource estimates of 43.3 million lbs and 14.5 million lbs U3O8 respectively) and the largest cumulative prospective exploration land package (6.5 million acres) in two of the world’s most prominent basins for uranium discoveries, ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd.1,2,3

For more information visit www.athaenergy.com

For more information, please contact:

Troy Boisjoli
Chief Executive Officer
Email: [e-mail]
www.athaenergy.com

Historical Mineral Resource Estimates

All mineral resources estimates presented in this news release are considered to be “historical estimates” as defined under NI 43-101, and have been derived from the following (See notes below). In each instance, the historical estimate is reported using the categories of mineral resources and mineral reserves as defined by the CIM Definition Standards for Mineral Reserves, and mineral reserves at that time, and these “historical estimates” are not considered by ATHA to be current. In each instance, the reliability of the historical estimate is considered reasonable, but a Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and ATHA is not treating the historical estimate as a current mineral resource. The historical information provides an indication of the exploration potential of the properties but may not be representative of expected results.

Notes on the Historical Mineral Resource Estimate for the Angilak Deposit:

This estimate is considered to be a “historical estimate” under NI 43-101 and is not considered by any of to be current. See below for further details regarding the historical mineral resource estimate for the Angilak Property.

Mineral resources which are not mineral reserves do not have demonstrated economic viability.

The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

The quality and grade of the reported inferred resource in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.

Contained value metals may not add due to rounding.

A 0.2% U3O8 cut-off was used.

The mineral resource estimate contained in this press release is considered to be “historical estimates” as defined under NI 43-101 and is not considered to be current.

The “historical estimate” is derived from a Technical Report entitled “Technical Report and Resource Update For The Angilak Property, Kivalliq Region, Nunavut, Canada”, prepared by Michael Dufresne, M.Sc., P.Geol. of APEX Geosciences, Robert Sim, B.Sc., P.Geo. of SIM Geological Inc. and Bruce Davis, Ph.D., FAusIMM of BD Resource Consulting Inc., dated March 1, 2013 for ValOre Metals Corp.

As disclosed in the above noted technical report, the historical estimate was prepared under the direction of Robert Sim, P.Geo, with the assistance of Dr. Bruce Davis, FAusIMM, and consists of three-dimensional block models based on geostatistical applications using commercial mine planning software. The project limits area based in the UTM coordinate system (NAD83 Zone14) using nominal block sizes measuring 5x5x5m at Lac Cinquante and 5x3x3 m (LxWxH) at J4. Grade (assay) and geological information is derived from work conducted by Kivalliq during the 2009, 2010, 2011 and 2012 field seasons. A thorough review of all the 2013 resource information and drill data by a Qualified Person, along with the incorporation of subsequent exploration work and results, which includes some drilling around the edges of the historical resource subsequent to the publication of the 2013 technical report, would be required in order to verify the Angilak Property historical estimate as a current mineral resource.

The historical mineral resource estimate was calculated in accordance with NI 43-101 and CIM standards at the time of publication and predates the current CIM Definition Standards for Mineral Resources and Mineral Reserves (May, 2014) and CIM Estimation of Mineral Resources & Mineral Reserves Best Practices Guidelines (November, 2019).

A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101.

Notes on the Historical Mineral Resource Estimate for the Moran Lake Deposit:

Jeffrey A. Morgan, P.Geo. and Gary H. Giroux, P.Eng. completed a NI 43-101 technical report titled “Form 43-101F1 Technical Report on the Central Mineral Belt (CMB) Uranium Project, Labrador, Canada, Prepared for Crosshair Exploration & Mining Corp.” and dated July 31, 2008, with an updated mineral resource estimate for the Moran Lake C-Zone along with initial mineral resources for the Armstrong and Area 1 deposits. They modelled three packages in the Moran Lake Upper C-Zone (the Upper C Main, Upper C Mylonite, and Upper C West), Moran Lake Lower C-Zone, two packages in Armstrong (Armstrong Z1 and Armstrong Z3), and Trout Pond. These mineral resources are based on 3D block models with ordinary kriging used to interpolate grades into 10 m x 10 m x 4 m blocks. A cut-off grade of 0.015% U3O8 was used for all zones other than the Lower C Zone which employed a cut-off grade of 0.035%. A thorough review of all historical data performed by a Qualified Person, along with additional exploration work to confirm results, would be required to produce a current mineral resource estimate prepared in accordance with NI 43-101 standards.

3. Notes on the Historical Mineral Resource Estimate for the Anna Lake Deposit:

The mineral resource estimate contained in this table is considered to be a “historical estimate” as defined under NI 43-101, and is not considered to be current and is not being treated as such. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources. A qualified person would need to review and verify the scientific information and conduct an analysis and reconciliation of historical drill and geological data in order to verify the historical estimate as a current mineral resource.

Reported by Bayswater Uranium Corporation in a Technical Report entitled “Form 43-101 Technical Report on the Anna Lake Uranium Project, Central Mineral Belt, Labrador, Canada”, prepared by R. Dean Fraser, P.Geo. and Gary H. Giroux, P.Eng., dated September 30, 2009.

A 3-dimensional geologic model of the deposit was created for the purpose of the resource estimate using the Gemcom/Surpac modeling software. A solid model was created using a minimum grade x thickness cutoff of 3 meters grading 0.03% U3O8. Intersections not meeting this cutoff were generally not incorporated into the model. The shell of this modeled zone was then used to constrain the mineralization for the purpose of the block model. Assay composites 2.5 meters in length that honoured the mineralized domains were used to interpolate grades into blocks using ordinary kriging. An average specific gravity of 2.93 was used to convert volumes to tonnes. The specific gravity data was acquired in-house and consisted of an average of seventeen samples collected from the mineralised section of the core. The resource was classified into Measured, Indicated or Inferred using semi-variogram ranges applied to search ellipses. All resources estimated at Anna Lake fall under the “Inferred” category due to the wide spaced drill density. An exploration program would need to be conducted, including twinning of historical drill holes in order to verify the Anna Lake Project estimate as a current mineral resource.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to the Scheme and ATHA’s proposed exploration program, including statements with respect to the expected benefits of the Scheme and ATHA’s proposed exploration program timing for closing of the Scheme and receiving the required regulatory, shareholder and court approvals, stock exchange (including the TSX Venture Exchange and ASX) and other approvals, the ability of ATHA and 92E to successfully close the Scheme, any results that may be derived from ATHA’s proposed exploration program, the timing, scope, nature, breadth and other information related to ATHA’s proposed exploration program, the filing of materials on SEDAR+, the successful integration of the businesses of ATHA and 92E, the prospects of each companies’ respective projects, including mineral resources estimates and mineralization of each project, and any expectations with respect to defining mineral resources or mineral reserves on any of ATHA’s or 92E’s projects, and any expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development or production.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding the Company following completion of the Scheme, that the anticipated benefits of the Scheme and ATHA’s proposed exploration program will be realized, completion of the Scheme, including receipt of required shareholder, regulatory, court and stock exchange approvals, the ability of ATHA and 92E to satisfy, in a timely manner, the other conditions to the closing of the Scheme, other expectations and assumptions concerning the Scheme, the ability of ATHA and 92E to complete its exploration activities as currently expected including ATHA’s proposed exploration program, and that general business and economic conditions will not change in a material adverse manner. Although each of ATHA and 92E have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of ATHA and 92E with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA and 92E, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA and 92E to complete the Scheme; a material adverse change in the timing of any completion and the terms and conditions upon which the Scheme is completed; inability to satisfy or waive all conditions to closing the Scheme; 92E shareholders not approving the Scheme; the TSXV not providing approval to the Scheme and all required matters related thereto; the inability of the consolidated entity to realize the benefits anticipated from the Scheme and the timing to realize such benefits, including the exploration and drilling targets described herein or elsewhere; unanticipated changes in market price for ATHA shares and/or 92E shares; changes to ATHA’s and/or 92E’s current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of each of ATHA and 92E; treatment of the Scheme under applicable competition laws and the Investment Canada Act; regulatory determinations and delays; any impacts of COVID-19 on the business of the consolidated entity and the ability to advance the Company projects and its proposed exploration program; risks inherent in mineral exploration including risks related worker safety, weather and other natural occurrences, accidents, availability of personnel and equipment, and other factors; aboriginal title; regulatory and permitting approvals; no known mineral resources/reserves; reliance on key management and other personnel; competition; changes in laws and regulations; uninsurable risks; delays in governmental and other approvals, community relations; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, Australia and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the filings of ATHA with the Canadian securities regulators which are available on ATHA’s profile on SEDAR+ at www.sedarplus.ca and filings of 92E with the Australian regulatory authorities. ATHA does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

ATHA will not acquire any interest in any of the assets of 92E (including 92E’s projects), until and subject to the completion of the Scheme. There is no guarantee that the Scheme will be completed as presently expected or at all.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/58b5ac5c-2da5-4c33-853d-55cb40386e78

https://www.globenewswire.com/NewsRoom/AttachmentNg/32de8add-1d6b-4b33-ab80-1bee497fb906

[Lone Clone]

GoviEx's Madaouela Uranium Project Progressing Ahead with Commencement of Front End Engineering Designs

https://www.newsfilecorp.com/release/202104

March 18, 2024 9:57 AM EDT | Source: GoviEx Uranium Inc.

Vancouver, British Columbia--(Newsfile Corp. - March 18, 2024) - GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx" or "Company"), is pleased to announce progress at its Madaouela Uranium Project in Niger ("Madaouela Project") , following the appointment of SGS Bateman (Pty) Limited for the commencement of Front-End Engineering Designs. The Project is also moving forward with initial ground works, including the construction of an access road, which is planned to be followed by comprehensive site clearance and terracing, and then initial civil engineering construction.

This progression marks a significant step towards the Madaouela Project's development, complementing both the initiation of lender due diligence announced earlier this month and GoviEx's receipt of expressions of interest (EOIs) for project-related debt finance of approximately USD 200 million.

The Madaouela Project represents a significant investment in the Nigerien economy, with an anticipated initial capital expenditure of USD 343 million, and is expected to generate considerable employment opportunities with the potential of creating up to 800 jobs over its 20-year mine life. The project is also expected to contribute to substantial royalty payments and taxes to Niger. 1

GoviEx is a Canadian company with assets in Niger and Zambia with a continued commitment to developing both projects. The Company notes the recent developments concerning the Niger-US military arrangements after the announcement by the Niger Government of the termination of their military accord, which was due to expire later this year. We are closely monitoring the situation on the ground and through our current potential lenders. The Company continues to target a number of financing options for the Madaouela Project, including those noted above, as well as the completion of Muntanga's Feasibility Study, which is due in the second half of this year.

Commenting on these developments, Daniel Major, CEO of GoviEx said:

"Whilst we continue to monitor the current political situation in Niger, I am really pleased to start the development of Front-End Engineering Designs, as wells as the initial ground works at Madaouela. This Project is more than an investment in uranium; it's an investment in the future of Niger, aiming to bring economic benefits and develop local talent that will serve the nation for years to come. With two projects in development, we are uniquely positioned to benefit from the current uranium market."

GoviEx's Madaouela Project in Niger holds one of the largest uranium resources amongst its peers, with 96.9 million pounds of U3O8 in measured and indicated mineral resources, plus inferred resources of 19.6 million pounds of U3O8.1 Its Muntanga Project in Zambia has 33.7 million pounds of U3O8 in measured and indicated mineral resources, plus inferred resources of 10.9 million pounds of U3O8.2.

Qualified Person Statement

The scientific and technical information in this release has been reviewed, verified, and approved by Mr. Jerome Randabel, MAIG, Chief Geologist of the Company, a Qualified Person as defined in Canadian National Instrument 43-101 "Standards of Disclosure for Mineral Projects."

Notes:

See technical report titled, "A Feasibility Study for the Madaouela Uranium Project, Niger" dated effective November 01, 2022, available under the Company's profile on the SEDAR+ website at www.sedarplus.ca.
See technical report titled, "NI 43-101 Technical Report on the Updated Mineral Resource Estimate for The Muntanga Uranium Project in Zambia" dated effective March 31, 2023, available under the Company's profile on the SEDAR+ website at www.sedarplus.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About GoviEx Uranium Inc.

GoviEx (TSXV: GXU) (OTCQX: GVXXF), is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger and its mine-permitted Muntanga Project in Zambia.

Contact Information

Isabel Vilela , Head of Investor Relations and Corporate Communications
Tel: [phone] Email: [e-mail] Web: www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include those in relation to, (i) the potential amount of debt financing, if any, that the Company will be able to secure; (ii) the method and timing of any development and mining operations at the Company's projects; (iii) the Company's ability to contribute positively to Niger's its socio-economic development; (iv) the timing or occurrence of any due diligence with lenders; (v) the timing for completion of a feasibility study for the Muntanga Project; and (vi) discussions, if any, to occur with nuclear utilities regarding offtake. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the Company will be in a position to advance Madaouela towards development; (ii) that the current uranium upcycle will continue and expand; (iii) that the integration of nuclear power into power grids world-wide will continue as a clean energy alternative; and (iv) that the price of uranium will remain sufficiently high and the costs of advancing the Company's mining projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner. Factors that could cause actual results to differ materially from expectations include (i) Endeavour Financial not being able to develop financing for Madaouela that is acceptable to GoviEx; (ii) a regression in the uranium market price; (iii) inability or unwillingness of include or increase nuclear power generation by major markets; (iv) potential delays due to potential new health restrictions; (v) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (vi) a decrease in the price of uranium below what is necessary to sustain the Company's operations; (vii) an increase in the Company's operating costs above what is necessary to sustain its operations; (viii) accidents, labour disputes, or the materialization of similar risks; (ix) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; (x) political instability in the jurisdictions where the Company operates; and (xi) generally, the Company's inability to develop and implement a successful business plan for any reason. In addition, the factors described or referred to in the section entitled "Risk Factors" in the MD&A for the year ended December 31, 2022, as well as the Annual Information Form for the year ended December 31, 2022, of GoviEx, which are available on the SEDAR+ website at www.sedarplus.ca, should be reviewed in conjunction with the information found in this news release. Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law. Cautionary Note to United States Persons: The disclosure contained herein does not constitute an offer to sell or the solicitation of an offer to buy securities of GoviEx.

SOURCE: GoviEx Uranium Inc.

[Lone Clone]

Generation Uranium to Begin Exploration Program On Its 100% Wholly Owned Yath Project in Nunavut, Canada

https://thenewswire.com/press-releases/1AdyFNmGq-generation-uranium-to-begin-exploration-program-on-its-100-wholly-owned-yath-project-in-nunavut-canada.html

Vancouver, British Columbia, Canada, March 19th, 2024 – Generation Uranium Inc. (the “Company” or “Generation”), (TSXV: GEN) is pleased to announce that an inaugural exploration program will begin on its 85km², 8,500-ha property located in the Thelon Basin in Nunavut, Canada. Due to strong historical sampling and anticipated long-term elevated world spot uranium pricing due to favorable supply and demand dynamics, the Company anticipates that it will expend a significant amount of its capital resources into the basin in 2024.



Generation’s Yath Project (“Yath”) is located in the Thelon Basin mining jurisdiction that exhibits strategic land positioning and situated along trend from the 43 million lbs Lac 50 uranium deposit being advanced by Latitude Uranium, currently being acquired by ATHA Energy Corp. for an all-share acquisition valued at $64.7M CAD. Management believes Yath covers a possible western extension of the LAC 50 trend and associated commercialization potential. Historical grades at Yath conducted by Pan Ocean Oil Ltd. in the 1980’s highlight the known uranium and secondary mineralization of the property. In 1981, sample Bog-8-80 DDH revealed a promising intersection, assaying 1m at 0.224% U3O8 from 25.5m, with chip samples registering 6.7% U3O8 and 0.7 ounces per ton of Ag. Additional sampling from granoblastic Gneiss in 1982 (sample MM-276) in the heart of the Yath Claim returned including 14,000 CPS, 9.81% U3O8, and 3.7 ounces per ton of Ag.

Additionally, field samples conducted by Kivalliq Energy Corp. between 2012-2014 discovered U3O8 values ranging from 1% to 10%, with a confluence of faults and basin unconformity cover. High-grade samples localized along regional faults were observed coinciding with a VGR trend identified in a seismic line from 2012. These findings validate results from the 1970s, indicating significant potential for uranium mineralization in the zone.



With high-grade historic results and extensive historical work, the Company is anticipated to resume additional field exploration in the coming weeks at Yath to better decipher the near-term drill target potential of known uranium mineralization. Generation believes in the untapped potential at Yath, as adequate diamond drilling was never conducted as a consequence of the downturn in uranium prices subsequent to the Fukushima nuclear incident.

Generation would also like to announce a new Website and Corporate Presentation. The new website can be viewed at Generation Uranium: Leading the Future of Clean Energy with Uranium Exploration. Sign up to the company's mailing list to get in touch.

Generation will provide timely operational updates to investors as the situation warrants.

FOR FURTHER INFORMATION CONTACT

Anthony Zelen

President and Chief Executive Officer

[e-mail]

778-388-5258

About Generation Uranium

The Company is a natural resource company engaged in the exploration and development of mineral properties. The Company holds an option to acquire a 60% interest in and to the Arlington Property, located within the Arrow Boundary District of south-central British Columbia,and holds a 100% interest in the Yath Uranium Project, located in the Territory of Nunavut.

Forward-Looking Statements

This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

[Lone Clone]

CanAlaska/Nexus Uranium Complete Option Agreement Deal on Cree East Project

Nexus Granted Staged Option to Earn up to 75% Interest in the Cree East Property for $19M Exploration Spend

Focus on Numerous Tier 1 Eastern Athabasca Basement and Unconformity Uranium Targets; Exploration Permits Submitted

https://www.newsfilecorp.com/release/202231

March 19, 2024 7:30 AM EDT | Source: CanAlaska Uranium Ltd.

Vancouver, British Columbia--(Newsfile Corp. - March 19, 2024) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to announce that it has signed an arm's length definitive agreement effective March 18, 2024 with Nexus Uranium Corp. ("Nexus") to allow Nexus to earn up to a 75% interest in the Cree East Project (the "Project"). The Cree East Project is located in the southeastern Athabasca Basin and covers 57,752 hectares. The Project is located 35 kilometres west of the Key Lake Mine and Mill Complex.



Figure 1 – Cree East Project Location

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2864/202231_b8c2e47154113a2f_002full.jpg

Nexus may earn up to a 75% interest in the Project by undertaking work and payments in three defined earn-in stages. Nexus may earn an initial 40% interest (Stage 1) in the Project by paying the Company $750,000 cash in tranches over 12 months, issuing $3,000,000 of common shares of Nexus in tranches over 12 months and incurring $5,500,000 in exploration expenditures and other costs related to the Project within 18 months of the date of the definitive agreement (the "Agreement Date"). Nexus may earn an additional 20% interest for a total 60% interest (Stage 2) in the Project by paying to the Company a further $1,000,000 cash and issuing an additional $3,000,000 Nexus common shares concurrent with providing notice that it wishes to proceed with the Stage 2 earn-in, and by incurring a further $6,500,000 in exploration expenditures and other costs related to the Project within 24 months of commencing the Stage 2 earn in (approximately 3.5 years after the Agreement Date). Nexus may earn an additional 15% interest for a total 75% interest (Stage 3) in the Project by paying to the Company a further $1,250,000 cash and issuing an additional $4,000,000 Nexus common shares concurrent with providing notice that it wishes to proceed with the Stage 3 earn-in, and by incurring an additional $7,000,000 in exploration expenditures and other costs related to the Project within 24 months of commencing the Stage 3 earn in (approximately 5.5 years after the Agreement Date).

All Nexus shares issued to CanAlaska under the option agreement will be subject to a hold period expiring four months and one day after their date of issue pursuant to applicable Canadian securities laws. In addition, CanAlaska has agreed to voluntary resale restrictions on such shares whereby 25% of the shares will be released from voluntary resale restrictions 3, 6, 9 and 12 months after their issue date.

After successful completion of (a) Stage 1, if Nexus elects to not enter the next stage or fails to make the Stage 2 option payments when and as required; or (b) Stage 2, if Nexus elects to not enter the next stage or fails to make the Stage 3 option payments when and as required; or (c) Stage 3, a joint venture will be formed and the parties will either co-contribute thereafter on a simple pro-rata basis or dilute on a pre-defined straight-line dilution formula. Any party diluting to a 10% interest will automatically forfeit its interest in the Project and in lieu thereof will be granted a 2% net smelter return royalty on the Project.

During Stage 1 and Stage 2 of the option agreement, CanAlaska will be operator of the Project and will be entitled to charge an operator fee. Nexus will have deciding voting rights on annual exploration programs while sole funding at the various option stages and will have the right to assume operatorship after successfully earning a 60% interest in the Project (Stage 2).

An Area of Mutual Interest ("AMI") will extend two kilometres from the outer boundary of the Project, excluding all properties within such area that are currently held by CanAlaska at time of signing the definitive agreement. Initial exploration permits have been submitted for approval.

CanAlaska CEO, Cory Belyk, comments, "Bringing this level of exploration investment into the Cree East project is a significant milestone for CanAlaska and its shareholders. This spend commitment by Nexus Uranium will allow for multiple priority exploration targets to be advanced in a large eastern Athabasca Basin project located close to the producing Key Lake uranium mill. The time is now for discovery in this region and the Cree East project has all the hallmark signs of a potential significant discovery laying in wait. We look forward to working with the Nexus team to advance this project toward that discovery."

About the Cree East Project

The Cree East project is located in the southeastern Athabasca Basin, 35 kilometres west of the Key Lake Mine and Mill Complex. The southern boundary of the project is located 5 kilometres North of the present-day Athabasca Basin edge. The Project consists of 17 contiguous mineral claims for a total of 57,752 hectares.

Early exploration on the Cree East Project was undertaken in the 1970's and 1980's, with several stages of historical regional and project scale ground and airborne geophysical surveys, focused prospecting and boulder sampling programs, and shallow diamond drilling. In the early 2000's, CanAlaska acquired the project through staking and began a property-wide lake sediment, boulder, and soil sampling program. This work program was followed up by a series of large-scale airborne electromagnetic and magnetic surveys, which were subsequently refined with higher-resolution ground-based geophysical surveys, including audio-magnetotelluric (AMT), IP-Resistivity, and Ground Moving Loop Electromagnetics (EM). This large-scale geophysical approach to the Cree East Project has identified seven major exploration grids on the project, of which Grid 7 appears to be the most prospective with nine target areas.

Between 2008 and 2012, CanAlaska 91 holes were drilled for a total of 34,473 metres. All drilling to date has been completed on Grid 7, targeting coincident basement EM-conductors with overlying sandstone low resistivity features. The most significant drilling results come from the Target Area B, where clay alteration extends throughout the entire sandstone with altered pyrite and associated uranium enrichment in the lower sandstone. The sandstone alteration is associated with wide intersections of brecciation and faulting, causing over 50 m of vertical unconformity displacement. Hydrothermal alteration continues into the basement where the best intersection of uranium mineralization on Target Area B was intersected in CRE083 that consisted of 0.09% U3O8 over 0.5 metres from 500.1 metres associated with hematite-altered quartzite.

Since acquiring the Project, CanAlaska has spent over $20 million on exploration through a previous partnership with a Korean consortium.

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 500,000 hectares (1,235,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents.

On behalf of the Board of Directors
"Cory Belyk"
Cory Belyk, P.Geo., FGC
CEO, President and Director
CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, CEO and President
Tel: [phone] x 138
Email: [e-mail]

General Enquiry
Tel: [phone]
Email: [e-mail]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

SOURCE: CanAlaska Uranium Ltd.

[Lone Clone]

ALX Resources Announces Commencement of 2024 Winter Drilling Program at the Gibbons Creek Uranium Project, Athabasca Basin, Saskatchewan

https://www.newsfilecorp.com/release/201663

March 14, 2024 7:30 AM EDT | Source: ALX Resources Corp.

Vancouver, British Columbia--(Newsfile Corp. - March 14, 2024) - ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that a diamond drilling program has commenced at its 100%-owned Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project") located in the northern Athabasca Basin near the community of Stony Rapids, Saskatchewan. Drilling in up to six (6) holes totaling approximately 1,200 metres is planned and is anticipated to continue until the end of March 2024.

The 2024 winter drilling program at Gibbons Creek (see Figure 1) is designed to test for unconformity-type and basement-hosted uranium mineralization in the eastern area of the Project. Weather conditions are satisfactory for the mobilization of equipment and personnel and the work is proceeding as scheduled. Proximity to the community and infrastructure of Stony Rapids adds greatly to the efficiency of the exploration program.



Figure 1. Gibbons Creek Uranium Project 2024 Drilling Plan

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/201663_7f5a4ad644e16967_001full.jpg

2024 Option Earn-in Transaction

Gibbons Creek is currently the subject of an option earn-in transaction with Trinex Lithium Ltd., a wholly-owned subsidiary of Trinex Minerals Limited ("Trinex"), which is a publicly-traded mineral exploration company listed on the Australian Securities Exchange. Under the terms of binding letter agreement signed in February 2024,Trinex can earn an initial 51% interest and up to a 75% participating interest in the Project in two stages over a period of five years by making cash payments and common shares payments to ALX, and by incurring exploration expenditures at the Project (see ALX news release dated February 28, 2024).

About Gibbons Creek and the 2024 Drilling Program

Gibbons Creek consists of eight mineral claims comprising 13,864 hectares (34,258 acres) located along the northern margin of the Athabasca Basin (Figure 2).



Figure 2. Gibbons Creek Uranium Project Claims and Historical Exploration

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3046/201663_7f5a4ad644e16967_002full.jpg

The Project is located in a region that hosts numerous historical uranium occurrences, such as the Black Lake discoveries in several drill holes beginning in 2004, and the historical Nisto Mine, from which 500 tons of ore was shipped in 1950 to the historical Lorado Mill at Uranium City, SK, including 106 tons grading 1.6% U3O8 (Source: Saskatchewan Mineral Deposits Index, #1621). ALX holds an exploration permit for Gibbons Creek, good until October 2025, which allows for up to 20 diamond drill holes totaling approximately 5,000 metres, along with ground-based geophysics, prospecting, and geochemical sampling. Access to Gibbons Creek is via roads and trails that lead from the community of Stony Rapids, SK, which is connected to all-weather Highway 905, thereby creating flexibility for either summer or winter exploration programs. Stony Rapids has readily-available fuel, supplies and accommodations for field personnel, and an airport with daily flights to cities and towns in southern Saskatchewan.

ALX carried a comprehensive review of Gibbons Creek historical exploration data and has integrated that information with the high-resolution magnetic and SGH geochemical surveys completed in November 2023. The historical data and the results of ALX's ground surveys on the 2023 exploration grid show important characteristics of the Project's potential to host uranium mineralization, which is demonstrated by the mineralization found in ALX's 2015 hole GC15-03 (0.13% U3O8 over 0.23 metres from 107.67 metres to 107.90 metres) and in Eldorado Nuclear's 1979 hole GC-15 (0.179% U3O8 over 0.13 metres from 134.11 to 134.24 metres) (see Figure 1).

Statement of Qualified Person

Geochemical analyses on samples from ALX's 2015 drill hole described in this news release were carried out by Activation Laboratories in Ancaster, Ontario using ("ICP") Inductively-Coupled Plasma Mass Spectrometry ("ICP-MS") methods on both partial and total digestions. Eldorado's 1979 geochemical analyses were carried out by Bondar-Clegg & Company Ltd. Laboratories, Ottawa, Ontario using Atomic Absorption, Colormetric, Fluorometric and XRF methods, which were standard methods of that exploration era.

The technical information in this news release has been reviewed and approved by Robert Campbell, P.Geo., who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in Canada, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 240,000 hectares of prospective lands in Saskatchewan, a stable jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, diamond deposits, and historical production from base metals mines.

ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project, the Bradley Uranium Project, and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.

ALX also owns 100% interests in the Firebird Nickel Project, the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages.

ALX owns a 50% interest in eight lithium exploration properties staked in 2022-2023 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada, a 100% interest in the Anchor Lithium Project in Nova Scotia, Canada, and 100% interests in the Crystal Lithium Project and the Reindeer Lithium Project, both located in northern Saskatchewan, Canada.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: [e-mail]

On Behalf of the Board of Directors of ALX Resources Corp.
"Warren Stanyer"
Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: ALX's 2023 exploration results and 2024 exploration plans at the Gibbons Creek Uranium Project, ALX's ability to continue to expend funds on its mineral exploration projects, and the successful closing of the option earn-in transaction with Trinex Minerals Limited. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations, Metis communities and local landowners in the region, and the results of such consultations; and economic, competitive, governmental, societal, public health, weather, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if uranium, lithium, nickel, copper, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Nine Months Ended September 30, 2023, which is available under the Company's SEDAR profile at www.sedarplus.ca. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

SOURCE: ALX Resources Corp.

[Lone Clone]

Inspiration Energy Acquires Bentley Uranium Property in Athabasca Basin, Saskatchewan

https://thenewswire.com/press-releases/1kVGFvmaZ-inspiration-energy-acquires-bentley-uranium-property-in-athabasca-basin-saskatchewan.html

Vancouver, British Columbia – TheNewswire - March 14, 2024: Inspiration Energy Corp. (the "Company" or "Inspiration ") (CSE: ISP) is pleased to announce that it has acquired the Bentley Uranium Property (the “Property” or “Bentley”) which consists of four mineral licenses encompassing a cumulative land area of ~5,710ha (57km2), located in the prolific Athabasca Basin of Saskatchewan, Canada.

Highlights

Two Uranium bearing boulders found historically on the Property returned assays of 0.72% and 0.11% U(Figures 1 2).

Located in the Athabasca Basin ~75 kilometers North-East of Cameco’s Rabbit Lake mine which was in production for over 41 years and produced more than 203Mlbs of Uranium since 1975

Geologically, Bentley sits on a potentially parallel structure to the Collins Bay Conductive trend that hosts the Rabbit Lake, Collins Bay and Eagle Point deposits (Figure 1).

The Property has had a multitude of exploration already completed by previous owners including airborne magnetic, electromagnetic, radiometric surveys, geological mapping, reconnaissance and scintillometer readings.

The source of the uranium bearing boulders has yet to be found. The ice direction of the area is southwest (Figure 1) indicating that exploration should be focused more on northeastern part of the property.

Bentley has the potential to host vein, breccia and unconformity type Uranium systems similar to that of producing mines south of the area.

Inspiration has begun a desktop study in order to formulate sound geological targets with the intent to ground truth Bentley in the 2024 field season.

“The Bentley Property marks Inspiration’s first move into Canada’s prolific Athabasca Basin,” stated Inspiration President and CEO Charles Desjardins. “After optioning the Maraschino Uranium properties in the Thelon Basin, we decided to further expand to increase our Uranium optionality. Uranium spot prices have increased substantially over the past 12 months and as we move towards a “greener future” globally, we expect the demand for nuclear power to continue to increase. Inspiration will continue to build its portfolio in the efforts to uncover new viable Uranium prospects in one of the most prolific Uranium basins in the world.”



Figure 1- Regional map showing the major uranium projects of the eastern Athabasca Basin and key conductive trends.



Figure 2- Map showing the government airborne EM conductors and mineral tenure of property area.

About the Bentley Property

The Bentley Property is comprised of four mineral licenses encompassing a total land area of ~5,710ha (57km2) and is located 75 kilometers North-East of Cameco’s Rabbit Lake mine. The Property sits on a potentially parallel structure to the Collins Bay Conductive trend that hosts the Rabbit Lake, Collins Bay and Eagle Point deposits. This environment has the potential for basement-hosted Uranium mineralization analogous to the Eagle Point model.

The most notable Uranium showing on the property is located at the northern tip of the eastern shoreline of an unnamed small lake, ~15.3km to the east-southeast of Bentley Lake's eastern shore. Mineralization is found within a boulder of migmatitic biotite gneiss, corresponding to radiometric anomaly F-4, with scintillometer readings of 3900 counts per second (cps). Further analysis of the boulder revealed a U3O8 value of 0.11% (0.09% U) and 0.03% ThO2. Another boulder proximal to the first corresponds to radiometric anomaly F-3 and comprises quartzose biotite gneiss, yielding scintillometer readings of 1500 cps. Assay results returned 0.72% U3O8 (0.69% U) and 1.98% ThO2.

Geological reconnaissance and mapping conducted in the broader area during the summer of 1980 by B.P. Scott (Scott, 1980), identified the area near outcrops categorized as granite and migmatite of the Aphebian Wollaston Domain. Isolated outcrops near the exploration site predominantly consist of granite with less than 50% inclusions of felsic gneiss or granodiorite gneiss. The earliest available records indicate that the area fell under Denison Mines Permit No. 2, which was staked on December 7, 1967. Exploration activities commenced the subsequent year, beginning with airborne electromagnetic (EM), magnetic, and radiometric surveys, along with geological reconnaissance (AF 64L-0002).

In 1969, ground EM and magnetic surveys were conducted over areas where airborne EM anomalies had been detected, along with an airborne spectrometer survey (AF 64L-0003). Additionally, diamond drilling, ground magnetic and EM surveys, and a U-Th ratio comparison were conducted over a portion of the area, but not covering the showing location (AF 64L15-0003). The following year, diamond drilling, ground geophysics, and geological mapping were carried out specifically over the showing area (AF 64L-0004), alongside ground evaluation across the entire area (AF 64L15-0004). Although positive results were uncovered during this mapping, the area was abandoned on in 1971.

In 1977, Taiga Consultants Ltd. obtained Permit No. 1 over the area. In 1978, Taiga submitted an exploration proposal and a regional geological description for the permit (AF 64L10-0016). The property was later renamed MPP 1041, and ownership transferred to Energy Reserves Canada Ltd. This entity conducted an airborne geophysical survey (AF 64L10-0017) and undertook regional and detailed lake sediment sampling, geological and glacial mapping, prospecting, and anomaly checks (AF 64L10-0018). The subsequent year, focus shifted towards a ground EM survey and follow-up prospecting of anomalous areas (AF 64L10-0019). Bentley has the potential to host vein, breccia and unconformity type Uranium systems similar to the producing mines south of the area.

Terms of the Option Agreement

The Vendors of the Property agree to sell, subject to the terms of the Agreement, a 100% undivided interest in the Property, subject to the Royalty Interest for:

(a) Within 5 days of the effective date,

paying the Vendors $5,000 cash; and

issuing 1,000,000 common shares (the “Consideration Shares”) of Inspiration;

(b) Granting the Vendors a two per cent (2.0%) Net Smelter Returns Royalty.

This Agreement will terminate at the Vendor’s discretion if Inspiration has failed to pay the cash amount and issue the Consideration Shares to the Vendors as set out above or if CSE acceptance is not granted within 35 days of the effective date of the Agreement.

Inspiration further reports that it has decided not to proceed with the Option Agreements of the Pagwachaun, Maun and Terrier Lithium projects.

NI 43-101 Disclosure

Nicholas Rodway, P.Geo, (Licence# 46541) (Permit to Practice# 100359) is a qualified person as defined by National Instrument 43-101- Standards of Disclosure for Mineral Projects. Mr. Rodway has reviewed and approved the technical content in this release.

References

The contents of this release were obtained from the On-line Mineral Assessment File System in Saskatchewan which provides access to non-confidential mineral assessment files, allowing users to search and explore valuable information related to mineral exploration and mining. The reports referenced in this press release can be retrieved from the following link: ER - Assessment Search (saskatchewan.ca)

Source1: https://www.cameco.com/businesses/uranium-operations/suspended/rabbit-lake

About Inspiration Energy Corp.

Inspiration Energy Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the Company’s properties.

For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).

On Behalf of the Board of Directors

Charles Desjardins

Chief Executive Officer, President and Director

Phone #[phone]

Email: [e-mail]

Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions, including with respect to the Company’s ability or intention to complete the private placement, as described above. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at WWW.SEDARPLUS.CA).

[Lone Clone]

Oberon Uranium Announces Closing of Sale of Element 92 Property to Forty Pillars

https://www.newsfilecorp.com/release/201475

March 12, 2024 6:00 PM EDT | Source: Oberon Uranium Corp.

Vancouver, British Columbia--(Newsfile Corp. - March 12, 2024) - OBERON URANIUM CORP. (CSE: OBRN) ("Oberon" or the "Company") is pleased to announce that, further to its news release dated March 1, 2024, it has closed the sale of its Element 92 Uranium Property, comprised of a single Saskatchewan mineral claim number covering 5,961 hectares located in northern Saskatchewan, Canada, on the southern end of the Athabasca region (the "Property").

Pursuant to a property purchase and sale agreement dated March 1, 2024 (the "Agreement") with Forty Pillars Mining Corp. (CSE: PLLR) ("Forty Pillars"), as consideration for the Property Forty Pillars paid to Oberon $10,000 in cash and issued 2,000,000 common shares of Forty Pillars (each, a "Share") at a deemed price of $0.07 per Share, representing aggregate Share consideration of $140,000. The Shares are subject to a four month hold period in accordance with applicable securities laws.

Following closing of the transaction, Oberon is now an insider of Forty Pillars, with the 2,000,000 Shares received by Oberon under the transaction representing approximately 17.26% of the 11,587,530 issued and outstanding common shares of Forty Pillars, on an undiluted basis. Prior to the transaction, Oberon did not hold any securities of Forty Pillars. Depending on the circumstances, Oberon may, from time to time, acquire additional securities or related financial instruments of Forty Pillars or dispose of all or a portion of the securities or related financial instruments of Forty Pillars previously acquired. Other than the foregoing, Oberon does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.

The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from Forty Pillars' profile on SEDAR+ at www.sedarplus.ca. To obtain a copy of the report, please contact Lawrence Hay, President and CEO of Oberon, at the contact details described below.

About the Company

Oberon Uranium Corp. is a mineral exploration company with a 100% interest in the past producing Lucky Boy Uranium Property located in Arizona, USA. Oberon also owns a 100% interest in the Fusion Uranium Zone Project located in the Athabasca Region of Saskatchewan, Canada. For further information, please refer to the Company's disclosure record on SEDAR+ (www.sedarplus.ca) or contact the Company by email at [e-mail].

On Behalf of the Board of Directors
"Lawrence Hay"
President and CEO
Tel: [phone]
Email: [e-mail]

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The CSE has not reviewed, approved or disapproved the contents of this news release.

SOURCE: Oberon Uranium Corp.

[Lone Clone]

NexGen Announces Discovery of New Intense Mineralization in Greenfields Discovery 3.5 Kilometers from Arrow

https://www.newswire.ca/news-releases/nexgen-announces-discovery-of-new-intense-mineralization-in-greenfields-discovery-3-5-kilometers-from-arrow-839309685.html

NexGen Energy Ltd. Mar 11, 2024, 06:30 ET

VANCOUVER, BC, March 11, 2024 /CNW/ - NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE: NXE) (ASX: NXG)

[Lone Clone]

North Shore Uranium Commences Falcon Property Drill Program

https://www.accesswire.com/840643/north-shore-uranium-commences-falcon-property-drill-program

Friday, 08 March 2024 07:00 AM

VANCOUVER, BC / ACCESSWIRE / March 8, 2024 / North Shore Uranium Ltd. (TSXV:NSU) ("North Shore" or the "Company") is pleased to announce that it has mobilized and commenced its drill program at its 55,699 hectare Falcon Property ("Falcon" or the "Property") located at the eastern margin of the Athabasca Basin in northern Saskatchewan. The Company is planning to drill three targets associated with electromagnetic ("EM") conductors. Information pertaining to the drill program and a summary of the Property were provided by the Company on February 28, 2024 and December 19, 2023.

The drill program is being managed by TerraLogic Exploration Inc. The final three targets selected for drilling, which lie along a strong, dominantly northeast-trending EM conductor system, are shown in Figure 1. For each target, a subsurface geophysical model of the EM conductor has been prepared and a hole, which is drilled at an angle, has been designed to intersect the conductor. The program is expected to last approximately ten days with final sample results expected approximately four weeks after the end of the program.



Figure 1: Electromagnetics with 2024 drill targets P03, P08 and P12. Processing by Condor North Consulting ULC using 2006 and 2007 airborne data.

Falcon Property Background Information
Falcon is a highly prospective uranium exploration property with a limited exploration history at the eastern margin of the Athabasca Basin in an area that is seeing increased exploration activity and recent discoveries.Reinterpretation of EM data complemented by geophysical data acquired in 2022 has allowed the Company to identify high priority uranium targets in areas where there has been no previous drilling. The Property is located approximately 35 kilometres east of the active Key Lake uranium mill and former mine. The new uranium discovery potential at Falcon is significant including shallow Athabasca-style basement-hosted mineralization and pegmatite-hosted mineralization similar to that discovered at the Fraser Lakes Zone B uranium resource located just three kilometres south of the Property.

Falcon consists of 15 mineral claims; four of the claims comprising 12,791 hectares are 100 percent-owned by the Company and the remaining 11 claims totaling 42,908 hectares are subject to an option agreement with Skyharbour Resources Ltd. Under the terms of the option agreement, North Shore can earn an 80% interest in the 11 claims and has the option to purchase the remaining 20% interest after it has earned its initial 80% interest.

About North Shore Uranium
The near-term business objectives of North Shore Uranium are to become a major force in exploration for economic uranium deposits at the eastern margin of Saskatchewan's Athabasca Basin, a tier-one jurisdiction for discovering new mineable high-grade uranium deposits. The Company will work to achieve those objectives by conducting exploration programs on its two properties, Falcon and the West Bear Property, located 90 kilometres northeast of Falcon, and by evaluating opportunities to increase its portfolio of properties in the region.

Qualified Person
Mr. Brooke Clements, MSc, P.Geol., a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the President and CEO of North Shore, has reviewed and approved the scientific and technical disclosure in this press release.

ON BEHALF OF THE BOARD
Brooke Clements,
President, Chief Executive Officer and Director

For further information:
Please contact: Brooke Clements, President, Chief Executive Officer and Director
Telephone: [phone]
Email: [e-mail]
www.northshoreuranium.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This news release may contain forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect","project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's current plans and business objectives. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: assumptions regarding future uranium prices, debt and equity financing market conditions, receipt of regulatory approvals, and other factors. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on its behalf. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE: North Shore Uranium Ltd.

[Lone Clone]

Sienna Acquires the District Scale 50,440 Acre "Atomic Uranium Project" in the Athabasca Basin of Saskatchewan

https://www.newsfilecorp.com/release/200910

March 08, 2024 3:01 AM EST | Source: Sienna Resources Inc.

Vancouver, British Columbia--(Newsfile Corp. - March 8, 2024) - Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) ("Sienna" or the "Company") wishes to announce the acquisition of the new district size "Atomic Uranium Project" in the Athabasca Basin of Saskatchewan. The "Atomic Uranium Project" consists of 50,440 contiguous acres bordering Orano and CanAlaska Uranium Ltd.

Jason Gigliotti, President of Sienna, states, "Sienna has taken a swift entry into the Uranium space. This new "Atomic Uranium Project" is a district size project in the top uranium address on earth, the Athabasca Basin. This now gives Sienna shareholders exposure to 3 separate uranium projects. Management is currently formulating plans to commence operations on these new uranium projects. Sienna is coming into a very robust news flow cycle. Management's goal is to build shareholder value by acquiring and working on projects with the highest potential in the most mining friendly jurisdictions. We plan to be very active in the uranium and lithium space and have the cash on hand to execute this game plan."

Recently Sienna (January 17, 2024) acquired the 10,845 contiguous acre "Dragon Uranium Project" bordering Cameco Corporation (CCO, CCJ) in the Athabasca Basin of Saskatchewan and also (January 23, 2024) the 10,357 acre "Uranium Town Project" bordering Denison Mines Corporation (DML, DNN) in the Athabasca Basin of Saskatchewan.

The Athabasca Basin is home to the highest-grade uranium deposits in the world, which includes the highest grade uranium mine in the world owned by Cameco Corporation. In 2021, the Fraser Institute ranked Saskatchewan as number one in Canada, the second-best jurisdiction globally for mining. Sienna management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative of the presence of mineralization on the company's properties.

Sienna also has multiple lithium projects in Nevada. Recently Sienna's direct neighbour in Elko County Nevada, Surge Battery Metals, announced the highest grade lithium clay resource in the USA. In Clayton Valley, Nevada, Sienna is located in the deepest section of the only producing brine project in the USA, Albemarle's Silver Peak deposit and also the same brine section where SLB Corp (formerly known as Schlumberger) has spent over 100 million dollars for their Direct Lithium Extraction process.

Sienna plans to use the marketing budget in the coming weeks that was announced October 13, 2023.

About Sienna Resources Inc.

Sienna has recently acquired the 10,357 acre "Uranium Town Project" bordering Denison Mines Corporation (DML, DNN), the 10,845 contiguous acre "Dragon Uranium Project" bordering Cameco Corporation (CCO, CCJ) and the 55,440 acre "Atomic Uranium Project" in the world renowned Athabasca Basin of Saskatchewan. Also, Sienna recently expanded the "Elko Lithium Project" in Elko County, Nevada. This project consists of approximately 1840 contiguous acres directly bordering Surge Battery Metals' (NILI) "Nevada North Lithium Project" in Elko County, Nevada who announced the highest grade lithium deposit in the USA. Sienna is also one of the larger landholders in Clayton Valley Nevada. Sienna's Clayton Valley projects include the Blue Clay Lithium Project, the Silver Peak South Project, and the Clayton Valley Deep Basin Lithium Project. Clayton Valley is home to the only lithium production in North America, being Albemarle Corp's (ALB) Silver Peak deposit. This project is also near Tesla Motors Inc.'s (TSLA) Gigafactory in Nevada. On March 18, 2021, Schlumberger New Energy Venture (SLB) announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy in a strategic partnership with Pure Energy (PE). The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. Results from this pilot plant are expected in 2024 and could have a significant impact on the brine prospects within Clayton Valley Nevada as Sienna is located in the deepest section of this brine deposit.

This project was acquired via staking.

Qualified Person:

Mr. Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.

If you would like to be added to Sienna's email list, please email [e-mail] for information or join our twitter account at @SiennaResources.

Contact Information
Tel: [phone]
Fax: [phone]
www.siennaresources.com
[e-mail]

"Jason Gigliotti"
President, Director
Sienna Resources Inc.

Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-looking statements in this news release include uncertainty of exploration and development plans regarding the property; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company's ability to attract and retain qualified personnel and management; potential labour unrest; reclamation and closure requirements for mineral properties and the availability of capital to fund the Company's projects, as well as other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: Sienna Resources Inc.

[Lone Clone]

ATHA Energy and Latitude Uranium Complete Merger Creating a Leading Uranium Explorer

https://ca.finance.yahoo.com/news/atha-energy-latitude-uranium-complete-204000078.html

ATHA Energy Corp.
Thu, March 7, 2024 at 12:40 p.m. PST·5 min read

SASKF
-3.19%

LURAF
+4.87%

VANCOUVER, British Columbia and TORONTO, March 07, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSXV: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) and Latitude Uranium Inc. (CSE: LUR) (OTCQB: LURAF) (FRA: EI1) (“Latitude Uranium”) are pleased to announce the successful completion of the previously announced arrangement (the “Arrangement” or the “Merger”) whereby ATHA has acquired 100% of the issued and outstanding common shares of Latitude Uranium (the “LUR Shares”) and Latitude Uranium has become a wholly owned subsidiary of ATHA.

Pursuant to the Arrangement, Latitude Uranium shareholders (the “LUR Shareholders”) received 0.2769 common shares of ATHA (each whole share, an “ATHA Share”) for each LUR Share held. In aggregate, ATHA issued approximately 64,444,004 ATHA Shares under the Arrangement.

In addition, the escrow release conditions in relation to the 4,000,000 subscription receipts (the “Subscription Receipts”) issued in connection with ATHA’s private placement (the “Offering”) of flow-through ATHA Shares and Subscription Receipts have been met. As a result, each outstanding Subscription Receipt has been converted into one ATHA Share and the net proceeds from the offering have been released from escrow. For additional information on the Offering, please refer to the news release of ATHA dated December 28, 2023.

Troy Boisjoli, CEO of ATHA, commented, “We are thrilled to announce the completion of this transaction, which in our view adds considerable maturity to our asset portfolio and further separates ATHA as the leading exploration company with comprehensive exposure to a unique profile of uranium upside. This acquisition marks a significant milestone for the Company by adding historical resource to our portfolio and enabling us to expand the reach of our robust balance sheet across a diverse range of exploration catalysts. With the expertise of our excellent development team, we are very excited about the prospect of further exploration and development across multiple high-grade uranium jurisdictions, with the objective of defining the next generation of world-class uranium assets.”

Philip Williams, Executive Chairman of Latitude Uranium, commented, “The closing of the Merger between Latitude Uranium and Atha begins a new era of opportunity for LUR shareholders, who can now expect to benefit from multi-basin uranium exploration in Canada. With significant funding and an exceptional team in place, Atha stands ready to accelerate exploration at Angilak, and drive additional discoveries in the Athabasca Basin and the Central Mineral Belt. In the two short year’s of being public, Latitude Uranium has made significant advancements through exploration and M&A, and I look forward to supporting the Atha team drive additional growth as a board member. I would like to thank the Latitude Uranium board and management for their invaluable support and contributions since inception and wish them well in their future endeavours.”

The LUR Shares are expected to be delisted from the Canadian Securities Exchange at market close on March 7, 2024. ATHA will cause Latitude Uranium to apply to the relevant Canadian securities regulatory authorities to cease to be a reporting issuer under applicable Canadian securities laws.

Board of Directors and Management

ATHA’s board of directors now consists of five directors, including Mike Castanho (Chair), Doug Engdahl, Sean Kallir, Jeff Barber and Phil Williams.

The senior management team of ATHA includes Troy Boisjoli as Chief Executive Officer, Akash Patel as Chief Financial Officer and Cliff Revering as Vice President, Exploration.

Full details of the Merger and certain other matters are set out in the management information circular of Latitude Uranium and can be found under Latitude Uranium’s issuer profile on SEDAR+ at www.sedarplus.ca. A copy of the early warning report of ATHA in connection with its acquisition of the LUR Shares will be filed under LUR’s issuer profile on SEDAR+ and can be obtained by contacting ATHA as set out below.

Additional Information for Former LUR Shareholders

In order to receive ATHA Shares in exchange for LUR Shares, former registered LUR Shareholders must complete, sign, date and return (together with the certificate or DRS statement representing their LUR shares) the letter of transmittal that was mailed to them prior to closing of the Merger. The letter of transmittal is also available under LUR’s issuer profile on SEDAR+ at www.sedarplus.ca and by contacting Odyssey Trust Company, the depositary for the transaction, by telephone at: [phone] or by email at: [e-mail].

For those former LUR Shareholders whose LUR Shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their LUR Shares and should follow the instructions of such intermediary or nominee.

About ATHA

ATHA is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. ATHA owns the Angilak and CMB uranium discoveries, hosting a historic resource estimate of 43.3 million lbs and 14.5 million lbs U3O8, respectively, in addition to the largest cumulative exploration package in each of the Athabasca Basin and Thelon Basin, two of the world’s most prominent basins for uranium discoveries, with 6.5 million total acres along with a 10% carried interest portfolio of claims in the Athabasca Basin operated by NexGen Energy Ltd. and IsoEnergy Ltd.

For more information visit www.athaenergy.com.

For more information, please contact:

Troy Boisjoli
Chief Executive Officer
Email: [e-mail]
1-306-460-5353
www.athaenergy.com

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and any securities issuable in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities.

Cautionary Statement Regarding Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. These forward-looking statements or information may relate to ATHA’s ongoing business plan, exploration and work program.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions regarding expectations and assumptions concerning the Arrangement, and that general business and economic conditions will not change in a material adverse manner. Although Latitude Uranium and ATHA have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of Latitude Uranium and ATHA with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by Latitude Uranium and ATHA, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the TSX Venture Exchange not providing final approval to the Arrangement and all required matters related thereto; changes to Latitude Uranium’s and/or ATHA’s current and future business plans and the strategic alternatives available thereto; regulatory determinations and delays. Other factors which could materially affect such forward-looking information are described in the risk factors in Latitude Uranium’s most recent annual information form, in Latitude Uranium’s management information circular in connection with the Meeting, in ATHA’s most recent financial statements and management discussion and analysis, and in ATHA’s and Latitude Uranium’s other filings with the Canadian securities regulators which are available on the Latitude Uranium’s and ATHA’s respective profiles on SEDAR+ at www.sedarplus.ca. Latitude Uranium and ATHA do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

[Golden Cross]

$STLNF Updated Fact Sheet
Link:
https://stallionuranium.com/_resources/factsheets/factsheet.pdf?v=0.006