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Misty Urbatsch, Vice-President Corporate Development, Resigns Position to Focus on Core Nickel Corp
Appointed to Advisory Board of CanAlaska
CanAlaska Announces Senior Management Change
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to announce changes to the Company's senior management team and advisory board. Misty Urbatsch has resigned her position as Vice-President Corporate Development for the Company and has subsequently been appointed to the Advisory Board of the Company.
Misty brought a rare blend of experience in the mining industry. With a robust background in a major exploration, mining and marketing company, she has provided invaluable expertise to the Company including domestic and international uranium exploration and global uranium sales, marketing, and trading. In addition, Misty successfully led completion of the Core Nickel Corp. spin-out from CanAlaska in November.
Misty Urbatsch
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The Company is pleased to add Misty to the Advisory Board of CanAlaska as we enter the next uranium bull market. Her incredible skillset developed over fifteen years at Cameco in uranium exploration and marketing departments will help CanAlaska and its shareholders maximize value in the near term and long term.
Through this management change, Misty will be able to focus her time as Chief Executive Officer, President and Director for newly formed Core Nickel Corp.
Core Nickel CEO, Misty Urbatsch, comments, "Working with the CanAlaska team over the past several months has been an absolute pleasure. Together, we have tackled various projects, including the spin-out of Core Nickel Corp. As I transition into my new role as an advisor to the Board of CanAlaska, I am thrilled to continue utilizing my many years of experience in the uranium sector to support the Company's growth and success."
CanAlaska CEO, Cory Belyk, comments, "Over the past several months, it has been a pleasure working closely with Misty to complete the Core Nickel spin-out transaction for our shareholders. Having her continue her journey as Core Nickel CEO will provide incredible opportunity for our shareholders to realize additional value from this nickel spin-out transaction. As a newly appointed advisor to the Board of CanAlaska, Misty will continue to help maximize growth potential for CanAlaska in the Athabasca Basin."
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 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, 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: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189799
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CanAlaska Increases Private Placement Financing to $12 Million
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") announces that further to its news release of November 20, 2023, due to increased demand, it is increasing the total gross amount to be raised under its non-brokered private placement to $12 million (the "Offering"). The Offering will be comprised of a combination of: (i) non-flow-through units (the "NFT Units") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a "FT Unit") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a "Charity FT Unit") to be sold at a price of $0.5575 per Charity FT Unit.
Each NFT Unit will consist of one non-flow-though common share of the Company (each, a "NFT Share") and one common share purchase warrant (each, a "Warrant"). Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada), (each, a "FT Share") and one half (½) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Charity FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada), (each, a "FT Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of $0.56 at any time on or before that date which is 24 months after the closing date of the Offering. The exact number of NFT Units, FT Units and Charity FT Units sold will be determined at closing.
The gross proceeds received from the sale of the FT Units and the Charity Units will be used for work programs on the Company's exploration properties. The net proceeds received from the sale of the NFT Units will be used for general working capital.
The Company will pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. Red Cloud Securities Inc. is acting as a finder with respect to the Offering.
All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 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: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
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.
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188195
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CanAlaska Announces up to $7.5 Million Private Placement Financing
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") announces that it proposes to undertake a non-brokered private placement of securities to raise total gross proceeds of up to $7.5 million (the "Offering"). The Offering will be comprised of a combination of: (i) non-flow-through units (the "NFT Units") to be sold at a price of $0.36 per NFT Unit; (ii) flow-through units of the Company (each, a "FT Unit") to be sold at a price of $0.425 per FT Unit; and (iii) flow-through units to be sold to charitable purchasers (each, a "Charity FT Unit") to be sold at a price of $0.5575 per Charity FT Unit.
Each NFT Unit will consist of one non-flow-though common share of the Company (each, a "NFT Share") and one common share purchase warrant (each, a "Warrant"). Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada), (each, a "FT Share") and one half (½) of one common share purchase warrant (each whole warrant, a "Warrant"). Each Charity FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada), (each, a "FT Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of $0.56 at any time on or before that date which is 24 months after the closing date of the Offering. The exact number of NFT Units, FT Units and Charity FT Units sold will be determined at closing.
The gross proceeds received from the sale of the FT Units and the Charity Units will be used for work programs on the Company's exploration properties. The net proceeds received from the sale of the NFT Units will be used for general working capital.
The Company will pay finders' fees comprised of cash and non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. Red Cloud Securities Inc. is acting as a finder with respect to the Offering.
All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 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: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
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.
Not for distribution to United States newswire services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187989
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CanAlaska Reports Large Gravity Targets Identified at Geikie Project in Athabasca Basin
Airborne Gravity Survey Highlights Numerous Targets Coincident with Regional Fault Structures and Mineralization
Winter Drilling Program Planned for Q1 2024
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) ("CanAlaska" or the "Company") is pleased to announce that it has received survey results from the fixed-wing Falcon Airborne Gravity Gradiometer (AGG) survey on it's Geikie uranium project (the "Project") near the Athabasca Basin margin (Figure 1). The purpose of the AGG survey was to identify potential target areas of enhanced basement alteration associated with previously interpreted and drill-defined structural corridors. The survey successfully identified multiple gravity low targets within the Project, interpreted to be related to alteration zones caused by fluids that are potentially related to mineralizing events. Significantly, a number of these gravity anomalies are coincident with drill and airborne survey defined structural corridors. These new targets, integrated with the existing airborne magnetic, radiometric, and electromagnetic data as well as drill information from the recently completed program, will be a focus of a drill program planned to commence Q1 2024.
Figure 1 – Geikie Project Location
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CanAlaska contracted Xcalibur Multiphysics Group of Mississauga, Ontario to conduct a detailed fixed-wing Falcon AGG survey on the Geikie Project (Figure 2). The survey consisted of a total of 1,838 line kilometres at 200 m flight line spacing across the majority of the Geikie project. The purpose of the AGG survey, a demonstrated successful technique in identifying uranium alteration systems in the Athabasca Basin, was to identify potential target areas of enhanced basement alteration associated with previously interpreted and drill defined structural corridors. Gravity low features are interpreted to represent low-density rocks with indications of clay alteration caused by intensified fluid movement along fault zones, potentially related to uranium mineralizing systems in the Athabasca Basin.
Figure 2 – AGG Survey Results with 2023 Drill Program Results
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The 2023 summer drill program was focused on a 15-kilometre-long conductive structural corridor where drillholes intersected graphitic host rocks, showing evidence of multiple post-Athabasca structural reactivation events along north-south and northwest trending faults, hydrothermal alteration, and uranium mineralization up to 0.27% U3O8 over 0.5 metres from 185.0 metres in GKI002 (see news release dated September 27, 2023). Uranium enrichment was present in several other drillholes. Results from the program, specifically on the Preston Creek and Aero Lake targets, confirmed the presence of hydrothermal alteration systems hosted within a complex structural framework, which are leading indicators in the formation of basement-hosted high-grade uranium deposits.
The AGG survey successfully outlined multiple gravity low features across the Project (Figure 2). Most notably, the survey highlighted gravity lows coincident with key magnetic structures, gravity lows at the intersection point of several key magnetic structural features, gravity lows marginal to an electromagnetic conductor often coincident with one or more key magnetic structures, and isolated gravity low features.
In the Aero Lake target area, the survey highlighted several high-priority gravity anomalies adjacent to GKI002 where the highest uranium value of the 2023 drill program was intersected (0.27% U3O8 over 0.5 metres starting from 185 metres in GKI002). The anomalies identified adjacent to Aero Lake are interpreted to be related to the wide hydrothermal alteration zones intersected in drillhole GKI002. The survey highlighted key target areas extending along the structural corridor up to 8 kilometres to the south of GKI002 and approximately 3 kilometres to the north.
In the Preston Creek target area, the survey highlighted several high-priority anomalies coincident with a north striking Tabbernor fault that transects the regional basement conductor trend. Drill holes GKI004, GKI005, and GKI008 were completed at a bend in the conductor's axis where the electromagnetic data identified potential fault splays. Zones of hydrothermal alteration were encountered in these drillholes, commonly observed within or at the periphery of major structures. A gravity low anomaly of approximately 800 metre strike length was highlighted near GKI-005 that follows a north-northwest trending magnetic structure that has been confirmed by drilling. Gravity anomalies are also present in the footwall of the graphitic conductor tested by drillholes GKI-004, GKI-005, GKI-007, and GKI-008.
Next Steps
The Company is currently undertaking 3D inversion of the priority gravity anomalies associated with key structures identified during the survey. This modelling, integrated with the existing airborne magnetic, radiometric, and electromagnetic data, as well as drilling information from the recently completed program, will form the basis for a drill program planned to commence Q1 2024.
The Geikie project is currently being sole-funded by Basin Energy Limited (ASX: BSN) under an option earn-in agreement with the Company.
CanAlaska CEO, Cory Belyk, comments, "This gravity survey has highlighted new target areas on the Geikie project that correlate with targets derived from other datasets, and importantly, the uranium mineralization encountered in the second ever drillhole completed on the project. It is anticipated these new targets will be a focus of the drilling program that will begin in Q1 of next year led by our partner, Basin Energy. We look forward to getting back on the ground with the drill and testing these high value targets with the drill-bit."
Other News
CanAlaska will be attending the 121 Mining Investment event in London on November 20th and 21st. Visit our team and learn more about our high-grade uranium discovery and our 2024 exploration plans. 121 Mining Investment London
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) holds interests in approximately 350,000 hectares (865,000 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: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187566
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CanAlaska Uranium Ltd. and Core Nickel Corp. Announce Closing of Spin-Out Plan of Arrangement
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") and Core Nickel Corp. ("Core Nickel") are pleased to announce that further to CanAlaska's press releases dated September 5, 2023 and October 26, 2023, the plan of arrangement spin-out transaction (the "Arrangement") has closed effective November 10, 2023 (the "Effective Date").
Completion of the Arrangement, as set forth in the arrangement agreement dated September 1, 2023 (the "Arrangement Agreement"), entered into between the CanAlaska and Core Nickel, was approved by the shareholders of CanAlaska (the "CanAlaska Shareholders") on October 25, 2023; by a Final Order granted by the Supreme Court of British Columbia on October 31, 2023, in accordance with Part 9 of the Business Corporations Act (British Columbia), and accepted by the TSX Venture Exchange (the "TSXV").
Pursuant to the Arrangement Agreement, on the Effective Date:
CanAlaska transferred the following assets to Core Nickel in consideration for 24,997,844 common shares of Core Nickel (the "Core Nickel Shares"):
five (5) mineral properties commonly referred to as the Halfway Lake, Resting Lake, Hunter, Mel and Odei River properties; and
$1,000,000 cash;
the existing common shares of CanAlaska Creek were re-designated as CanAlaska Class A Shares (the "CanAlaska Class A Shares") and CanAlaska created a new class of common shares known as the "New CanAlaska Common Shares";
each CanAlaska Class A Share issued and outstanding as of the close of business on November 9, 2023, was exchanged for one New CanAlaska Common Share and 0.19987 of one Core Nickel Share and thereafter the CanAlaska Class A Shares were cancelled;
all outstanding CanAlaska warrants issued and outstanding as of the close of business on November 9, 2023, were adjusted to allow holders to acquire, upon exercise, one New CanAlaska Common Share and 0.19987 of one Core Nickel Share, such that up to an aggregate of 6,137,012 Core Nickel Shares may be issued if all outstanding warrants are exercised;
all holders of CanAlaska options outstanding as of the close of business on November 9, 2023, received 0.19987 of one Core Nickel option with each whole option entitling the holder therefore to purchase one Core Nickel Share, such that up to an aggregate of 2,497,334 Core Nickel Shares may be issued if all such options are exercised;
Core Nickel became a reporting issuer in British Columbia, Alberta, Ontario and Newfoundland and Labrador; and
CanAlaska retained its interests in all other properties in its portfolio and remains listed on the TSXV and continues to trade under the trading symbol "CVV" as a junior resource company.
As of the Effective Date, the board of directors, officers and audit committee members of Core Nickel are as follows:
| Name of Director or Officer: | Position(s) with Core Nickel. |
| Misty Urbatsch | CEO, President, Director & member of audit committee |
| Harry Chan | CFO & Corporate Secretary |
| Shane Shircliff | Director & chair of audit committee |
| Karen Lloyd | Director & member of audit committee |
| Cory Belyk | Director |
Core Nickel has received conditional approval to list the Core Nickel Shares on the Canadian Securities Exchange ("CSE"). Final listing approval will be subject to Core Nickel satisfying all of the listing conditions of the CSE. Core Nickel will announce by way of a further press release the date on which trading of the Core Nickel Shares will commence, which is expected to be in the next couple of weeks. The trading symbol for the Core Nickel Shares will be "CNCO". Further details regarding Core Nickel will be contained in Core Nickel's CSE Form 2A Listing Statement, which will be made available under Core Nickel's profile on SEDAR+ at www.sedarplus.ca and under Core Nickel's profile on the CSE's website at www.thecse.com on or immediately prior to the listing date.
The existing common shares of CanAlaska are expected to be delisted from the TSXV as of the close of business on November 13, 2023. The New CanAlaska Shares are expected to commence trading on the TSXV at the market opening on November 14, 2023. The CUSIP numbers for the New CanAlaska Shares and the Core Nickel Shares will be 13709C100 and 21873D101, respectively.
Olympia Trust Company ("Olympia Trust") will forward replacement certificates or DRS Advice Statements to each CanAlaska shareholder that is entitled to receive certificates or DRS Advice Statements, representing their allotted number of New CanAlaska Shares and Core Nickel Shares in accordance with the Arrangement. Letters of transmittal have been mailed to registered holders of common shares of CanAlaska, which must be completed and returned to Olympia Trust together with certificates representing their shares of CanAlaska at the address specified in the letter of transmittal, in order for CanAlaska shareholders to receive New CanAlaska Shares and Core Nickel Shares following the Effective Date. A copy of the letter of transmittal is also available under the Company's profile on SEDAR+ at www.sedarplus.ca.
For more information on the Arrangement, see the Company's management information circular dated September 13, 2023, filed under the Company's profile on SEDAR+ at www.sedarplus.ca on October 2, 2023.
Misty Urbatsch, Chief Executive Officer and President of Core Nickel stated the following: "It has been an absolute pleasure working closely with the CanAlaska team to spin out Core Nickel into its own company. CanAlaska shareholders now have a solid investment in a new clean vehicle focused on growing and developing the tier-one nickel assets CanAlaska has assembled in the prolific Thompson Nickel Belt, which includes the Mel deposit that has a historical NI43-101 compliant Indicated nickel resource of 82,000,000 pounds. By passing the baton onto the Core Nickel management team, CanAlaska is providing us with a fantastic opportunity to build something remarkable for Core Nickel's newly acquired shareholders. Core Nickel is excited to embark on the journey of exploring our 100% owned tier-one nickel assets with an innovative exploration strategy driven by sound science focused on discovery. By unlocking the potential of our nickel asset, Core Nickel aims to support the ongoing efforts to increase the supply of responsibly sourced nickel, contributing to a net-zero future."
Cory Belyk, Chief Executive Officer and President of CanAlaska stated the following: "This is another significant milestone achieved for CanAlaska and Core Nickel. CanAlaska shareholders will now have shares in a new company focussed on discovery of a nickel deposit in one of the best districts to find nickel in North America. This is the culmination of years of work by CanAlaska to assemble this portfolio of projects which include a substantial historical NI43-101 compliant Indicated nickel resource on which Core Nickel can build upon with further expansion and discoveries. It is rare to have a well-structured new company with in-ground resources defined next to world-class production centres like Vale's Thompson operation in Manitoba, Canada."
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) holds interests in approximately 350,000 hectares (865,000 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: +1.604.688.3211 x 138
Email: cbelyk@canalaska.com
General Enquiry
Tel: +1.604.688.3211
Email: info@canalaska.com
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.
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Lo Herma ISR Uranium Project, Resource Drilling Funded
HIGHLIGHTS
- Upcoming Q3 resource drilling is fully funded
- Drilling will target expansion and upgrade of the current Inferred Mineral Resource Estimate of 5.71 Mlbs U3O8 at average 630ppm
- Drilling to commence in the coming weeks - starting late July or early August
- Planned rights entitlement offer to all shareholders on the same terms as the recent placement - details to be provided in due course
As previously advised on 2nd of May 2024, the planned 2024 drilling permit at Lo Herma allows for up to 76 drill hole locations including construction of up to 5 groundwater monitoring wells. This next phase of drilling will focus on expanding the resource areas and where possible, upgrading the current mineral resource classification (Table 1). Collection of important data including, hydrogeologic parameters of the mineralised aquifers and collection of rock core samples for metallurgical testing will be also prioritised. GTI intends to mobilise drilling rigs to Lo Herma as soon as the activity is fully permitted which is anticipated to be during late July or early August 2024.
Following completion of the 2024 drill program at Lo Herma, GTI intends to publish an updated mineral resource estimate and exploration target range for the project. The Company expects that the updated mineral resource estimate will support near-term development of a Scoping Study to demonstrate the economic potential of the project.
GTI Executive Director Bruce Lane commented, “We are pleased and excited to have received investor support and funding to continue moving forward with our planned resource expansion drilling at Lo Herma. Matt and the team in Wyoming have put us in a great position to complete the drilling program this quarter, with a revised mineral resource estimate to be rapidly advanced post-drilling. This work prepares GTI for a potential Lo Herma scoping study which we hope to commence later this year on the basis that we can significantly grow the uranium resource estimate to a similar scale to ISR uranium mines currently being constructed or planned in Wyoming at Ur-Energy’s Shirley Basin project & Encore’s Energy’s Gas Hills project.”
FIGURE 1. GTI WYOMING PROJECT LOCATIONS
LO HERMA GEOLOGIC SUMMARY
The Lo Herma project is located on the southern end of the west flank of the Powder River Basin (PRB), a regional asymmetric synclinal basin hosting a sedimentary rock sequence of about 15,000 feet in the deeper portions of the basin. The basin is bounded by the Bighorn Mountains on the west, the Black Hills to the east, and the Casper Arch, Laramie Mountains, and Hartville Uplift along the southern margin. Along the edges of the basin, progressively older sedimentary units outcrop at the surface as you move away from the synclinal axis of the basin.
The target host geology for Lo Herma project is located in and around the contact of the Eocene Wasatch Formation (Wasatch) and the Paleocene Fort Union Formation (Fort Union).
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This article includes content from GTI Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Stunning High Grade Uranium Soil Results at Portland Creek
Highlights
Infini’s CEO, Charles Armstrong said: “These first pass soils are nothing short of outstanding and represent some of the highest uranium soil grades returned globally. To see such consistent and high- grade mineralisation within soil sampling across ~235m x 100m, which sits within a ~3.2km radiometric corridor is remarkable and suggests we may be very close to a potential discovery here at Portland Creek. The high-grade soils are proximal to highly anomalous biogeochemical and boulder rock samples, further increasing our confidence in this remarkable uranium asset. We might be onto something of significant scale here. Right now, we await the follow-up assay results from these ‘ore grade’ soil samples to determine how high they really are, in addition to planning fieldwork to sample the unexplored radon gas anomalies at the property.”
Figure 1 The Talus Uranium Prospect depicting the location of the incredibly high-grade soil samples. Note: surface geochemistry is highly coincidental with the large existing anomalous radiometric corridor.
Soil Sampling Results
A total of 75 soils were taken in east-west traverse lines through known radiometric anomalism except for one area surrounding a historical radon gas anomaly. This area was identified as anomalous during spectrometer line traverses and infill samples on tight ~25m spacings where terrain allowed. Two uranium soil anomalies have been identified running in north-south orientations at the Talus prospect. High grade anomaly one (Figure 2 and Appendix 1 Table 1) is ~235m x 100m with a peak value of >11,792 ppm U3O8 (above LOD) and anomaly two is ~165m long with a peak value of 284 ppm U3O8. These findings are even more significant given the average background reading in soils is only ~8 ppm U3O8 (peak anomaly - 1474 times background).
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Boss Energy: Multi-mine Uranium Producer in Australia and the US
Australian uranium producer Boss Energy (ASX:BOE) has two projects – the 100 percent-owned Honeymoon uranium project in South Australia and the 30 percent-owned Alta Mesa project in the US.
The macro-environment and steps taken by the US government remain favorable for uranium producers such as Boss Energy. The US Congress recently enacted legislation prohibiting the importation of Russian uranium products known as the Prohibiting Russian Uranium Imports Act (HR 1042), valid until 2040.
The Honeymoon uranium project in South Australia spans approximately 80 kms northwest of Broken Hill. The project is home to the historical Honeymoon uranium mine, Australia's second operating in-situ recovery uranium mine. It began production in 2011 under the previous ownership of Uranium One. Operations at Honeymoon were halted in November 2013 due to declining uranium prices. Subsequently, Boss Energy acquired the project in 2015. The company has since restarted the mine, with the first drum of uranium produced in April 2024.
Company Highlights
- Boss Energy is an Australia-based uranium producer focused on its two key projects – the 100 percent owned Honeymoon Uranium Project in South Australia and the 30 percent owned Alta Mesa Project in the US.
- In June 2024 Boss became a multi-mine uranium producer through the Honeymoon and Alta Mesa Projects.
- The Honeymoon uranium mine commenced production in April 2024, with the first sale of uranium expected in July 2024.
- Annual production at Honeymoon is forecast to reach 2.45 Mlbs of U3O8.
- The Alta Mesa uranium mine commenced production in June 2024, with first sale of uranium expected in October 2024.
- Annual production at Alta Mesa is forecast to reach 1.50 Mlbs of U3O8. Once steady-state operations are established, Boss’s 30 percent share of the production amounts to 500,000 lbs per year.
- Uranium prices have been the highest since 2008 at over US$80/lb. Prices are expected to remain strong due to the tightness of the uranium supply/demand balance. The company’s first production is timed with strong market fundamentals.
- The company has signed two sales agreements to supply 1.8 million pounds of U3O8 to leading power utilities in Europe and the US, spanning eight years from 2024 to 2032. The company plans to pursue additional agreements as the price of uranium increases.
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Cameco Releases 2023 Sustainability Report
Cameco (TSX: CCO; NYSE: CCJ) released its 2023 Sustainability Report today. The report communicates the sustainability initiatives and key metrics that demonstrate Cameco's progress to date and the continual advancement of our sustainability reporting.
"Our vision is to energize a clean-air world. As the world seeks to decarbonize, we also want to do our part and be an active partner in the fight against climate change. I am proud of the steps we have taken to reduce our carbon footprint, focus on environmental protection, and make our workplace more supportive and reflective of the communities where we live and work," Cameco President and CEO Tim Gitzel said.
"Cameco remains committed to quality reporting on sustainability matters to our investors, customers, employees, regulators, local Indigenous Peoples and communities around our operations."
In this report, Cameco has incorporated relevant Sustainability Accounting Standards Board (SASB) performance indicators and continued its progress toward integrating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report can be downloaded or read online at www.cameco.com/about/sustainability
The 2023 Sustainability Report includes several notable highlights for Cameco:
- For the first time, we have included our estimated total Scope 3 emissions value and quantification method. We've begun engaging with key value chain partners and suppliers to learn about their energy and greenhouse gas emissions management activities and reduction opportunities.
- We completed the installation of a new closed-loop cooling water system at our Port Hope Conversion Facility, eliminating the need to use surface water for once-through cooling purposes, reducing energy use and water withdrawals.
- We developed tailored decarbonization pathways for all operationally controlled sites, including ideas collected from more than 160 decarbonization project suggestions received from across the company.
- In 2023, we completed physical risk assessments at all our fuel services operations, expanding on the work completed at the northern Saskatchewan operations in 2022.
- We provided work placements for 18 Indigenous individuals, 13 of whom were women.
- In 2023, about 50% of Cameco's employees in northern Saskatchewan were Indigenous and 74% of all spend on services for our northern sites was procured from northern-owned local businesses.
"The advantages of nuclear energy to provide carbon-free, constant and reliable power are being recognized globally in the fight against climate change and to achieve energy security. With growing electricity demand, we believe countries around the world are looking to Cameco to provide fuel to help de-carbonize their economies," Gitzel said. "Our joint acquisition of Westinghouse, a global provider of specialized nuclear technologies, products and services, is expected to augment our core business and expand our reach across the nuclear fuel cycle.
"Our achievements on sustainability priorities are critical to our ability to capitalize on the growing momentum in the nuclear industry."
Cameco's board of directors and executive team oversee the company's sustainability strategy, execution, and reporting. In addition to SASB and TCFD, the report contains other key performance indicators that we believe have an important bearing on Cameco's long-term sustainability, some of which are unique to our company and some of which are based on the GRI Standards framework that we used as the basis of our sustainability reporting prior to 2020. For the third year, we have obtained a third-party limited assurance report on selected performance indicators.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
Caution Regarding Forward-Looking Information and Statements
This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: our commitment to continual advancement of our sustainability reporting, our vision and views on the transition to a low-carbon economy and our desire to be an active partner in the fight against climate change, the demand for clean electricity, and the role of nuclear energy; our expectations regarding Cameco's role and the role of nuclear power more generally in combatting climate change; our commitment to quality reporting on sustainability matters; our engagement with key value chain partners and suppliers regarding energy and greenhouse gas emissions management activities and reduction opportunities; the elimination of need to use surface water for certain purposes; the effect of our acquisition of Westinghouse on our business and other matters. This forward-looking information is based on a number of assumptions, including assumptions regarding: carbon emission reduction and the continued focus on transition to a low-carbon economy, the demand for clean energy and the contribution that could be made by nuclear energy to reduce climate change; our commitment and ability to advance our climate, environmental and social-related goals. This information is subject to a number of risks, including: the risk that carbon reduction goals may not be achieved within the expected timeframe, if at all; the risk that the demand for clean electricity will not meet the level we expect, or that nuclear energy will not make the contribution to carbon reduction that we expect; the risk that our estimates and forecasts and the data underlying them may be inaccurate; the risk that we will face unexpected challenges or delays in advancing our climate, environmental and social-related goals and that they may not achieve the intended outcomes or results in whole or in part; and the risk that our acquisition of Westinghouse will not yield the intended benefits for us or any at all. Additional assumptions and risks are detailed in the Caution About Forward-Looking Information in our ESG Report and pages 4-6 of our Management's Discussion and Analysis. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views, and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240627372117/en/
Investor inquiries:
Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries:
Veronica Baker
306-385-5541
veronica_baker@cameco.com
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