Carmanah Minerals (CSE:CARM) focuses on the acquisition and exploration of energy, critical elements and precious metals exploring its flagship Walker Uranium Project situated in the Athabasca Basin. Carmanah Minerals acquired Hare Hill, a rare earths project tied to both York Harbor's Bottom Brook Property and the Baie Verte Brompton Project.
Carmanah's Walker project is located within the zone and is directly tied to Cameco's properties, which run along the Key Lake Shear Zone and host ten uranium showings with multiple exploration and magnetic survey (EM) targets. Carmanah jointly owns and operates the Walker Claims with Marvel Discovery Corporation (TSXV:MARV), with each company holding a 50-percent stake.
Hare Hill Pluton is a rare earth element project directly contiguous to York Harbour Metals' (TSXV:YORK) recent Bottom Brook Acquisition. It is also adjacent to Falcon Gold’s (TSXV:FG) and Marvel Discovery's Baie Verte Brompton Projects. The project covers 1,564 claims totaling 39,100 hectares in central Newfoundland.
This Carmanah Minerals profile is part of a paid investor education campaign.*
Click here to connect with Carmanah Minerals (CSE:CARM) to receive an Investor Presentation
Carmanah Minerals Corp. has announced a two (2) for one (1) stock split of its issued and outstanding common shares. Each shareholder of record as of the close of business on the record date will receive one (1) additional share for each share held on such date.
Trading will commence on an ex-distribution basis on May 7, 2024.
Upon completion of the split, there will be approximately 46,416,770 shares issued and outstanding.
All open orders will be purged from the book at the market close on May 6, 2024. Dealers are reminded to re-enter their orders.
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Carmanah Minerals Corp. a annoncé un fractionnement d'actions de deux (2) pour une (1) de ses actions ordinaires émises et en circulation. Chaque actionnaire inscrit à la fermeture des bureaux à la date d'enregistrement recevra une (1) action supplémentaire pour chaque action détenue à cette date.
La négociation débutera sur une base ex-distribution le 7 mai 2024.
Une fois le fractionnement réalisé, environ 46 416 770 actions seront émises et en circulation.
Toutes les commandes ouvertes seront supprimées du registre à la clôture du marché le 6 mai 2024. Il est rappelé aux concessionnaires de saisir à nouveau leurs commandes.
| Trading on a Split Basis/Négociation sur une base divisé : | Le 7 mai/May 2024 |
| Record Date/Date d'enregistrement : | Le 8 mai/May 2024 |
| CUSIP & ISIN : | 14317M100/CA14317M1005 |
If you have any questions or require further information please contact Listings at (416) 367-7340 or E-mail: Listings@thecse.com.
Pour toute question, pour obtenir de l'information supplémentaire veuillez communiquer avec le service des inscriptions au 416 367-7340 ou par courriel à l'adresse: Listings@thecse.com.
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Carmanah Minerals Corp. (CSE:CARM), ("Carmanah" or the "Company") wishes to announce the record date for the Company's two for one (2:1) stock split of its common shares (the "Stock Split") previously announced on November 9, 2023
The record date of the Stock Split has been fixed on May 8, 2024. (the "Record Date"). The Stock Split is conducted on a "push-out basis," with each shareholder of record of the Company as of the close of business on the Record Date receiving one (1) additional common share for each common share held on such date from the Company's transfer agent, Odyssey Trust Company. Shareholders of the Company do not need to take any action with respect to the Stock Split and there is no change to the CUSIP/ISIN number for the Company's common shares in connection with the Stock Split.
Following completion of the Stock Split, the Company will have approximately 46,416,770 common shares outstanding. The common shares will begin trading on a post-Stock Split basis under the existing stock ticker symbol effective at the opening of markets on May 7, 2024.
Outstanding stock options and share purchase warrants will also be adjusted by the Stock Split ratio and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly.
For further information, please view the Company's filings at www.sedarplus.ca.
ON BEHALF OF THE BOARD
Fraser Rieche
Chief Executive Officer, Director
Email:info@carmanahcorp.ca
Telephone: +1 (604) 716-1036
Disclaimer for Forward-Looking Information:
This news release includes certain forward‐looking statements and forward‐looking information (collectively, "forward‐looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward‐looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward‐looking statements in this news release, the Company has applied several material assumptions. Readers are cautioned not to place undue reliance on forward‐looking statements. The Company undertakes no obligation to update any of the forward‐looking statements in this news release except as otherwise required by law.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
SOURCE:Carmanah Minerals Corp.
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February 8, 2024 TheNewswire - Vancouver, B.C. Carmanah Minerals Corp. (CSE:CARM), ( "Carmanah " or the "Company" ) is pleased to announce the appointment of Wall Street Veteran Michael Moen to the Company's board of Directors effective February 5, 2024. With over two decades of experience in financial markets and investment strategies, Moen brings a wealth of expertise to the Company's leadership team with a focus on natural resources.
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November 09, 2023 TheNewswire - Vancouver, B.C. Carmanah Minerals Corp. (CSE:CARM), ( "Carmanah " or the "Company" ) announces that it intends to forward split its common shares ("Common Shares") on the basis of two (2) new Common shares for each one (1) Common Share currently outstanding (the "Share Split"). Each shareholder of record of the Company as of the close of business on the record date will receive one (1) additional share for each share held on such date.
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August 22, 2023 TheNewswire - Vancouver, B.C. Carmanah Minerals Corp. (CSE:CARM), ( "Carmanah " or the "Company" ) is pleased to announce the commencement of a detailed regional and property specific structural geophysical interpretation of the corporation's Saskatchewan Uranium Project with its Joint Venture partner Marvel Discovery. The Interpretation includes using advanced technology leveraging machine learning to transform the mineral discovery process.
Fraser Rieche, Interim Chief Executive Officer, commented, "Carmanah's Walker Project presents a tremendous opportunity in Canada's Athabasca Basin. The project is perfectly situated along the Key Lake fault and is home to some of the largest Uranium Reserves in Canada. Using AI-drill-targeting allows us to get a better in-depth understanding of the structural traps which is vital to our drill-target selection process. We are pleased to be working with Marvel Discovery and their geological team, giving us an edge and a better chance for success with the common goal of a tier 1 discovery."
The claims coincide with a regional-scale NNE-trending shear zone that forms the tectonic boundary between the Mudjatik Domain and Wollaston Domain of the Hearne Province. The shear zone can be mapped from regional aeromagnetic images and has a strike length of at least 400 kilometres extending beneath cover rocks of the Athabasca Basin, approximately 60 km to the north. The highly prospective Athabasca Basin is home to numerous unconformity-type uranium deposits whose locations are controlled by the positions of major faults in the underlying crystalline basement rocks.
The pattern of structures within the claims, indicate that the two major rock groups are intensely polydeformed with complex fold interference patterns suggesting a regional east-dipping, sinistral transpressional belt that is now preserved as the Wollaston-Mudjatik Transition Zone (WMTZ), a prospective zone, along which the majority of known Uranium and REE occurrences are documented.
Like its neighbor to the west, the Arrow deposit, owned by NexGen Energy, lies along a similar structural corridor as the Carmanah property. The Arrow deposit, which has undergone a positive feasibility study with robust economics, contains probable reserves of 239.6 million pounds of U3O8 at an average of 2.37 per cent U3O8, and measured and indicated resources of 256.7 million pounds at an average grade of 3.1 per cent U3O8. The Arrow deposit is the largest undeveloped uranium deposit in Canada of 256.7 million lb at an average grade of 3.1 per cent U3O8. The Arrow deposit is the largest undeveloped uranium deposit in Canada.
Carmanah signed a joint venture agreement with Marvel Discovery on October 5, 2022, to earn a 50-per-cent interest in the Walker claims located in the Athabasca basin, Saskatchewan. Upon completion of the earn-in by Carmanah, Marvel and Carmanah would each own 50 per cent of the project.
Click Image To View Full Size
Figure 1.
Location of Walker JV, the Highway North and KLR claim groups along the Key Lake Fault with prominent VTEM conductor trends.
Qualified Person
Mike Kilbourne, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.
About Carmanah Minerals Corp.
Carmanah Minerals Corp. is a Canadian junior exploration company focused on a diversified portfolio covering Precious Metals, Energy, and Critical Elements. The Company recently signed a Joint Venture agreement with Marvel Discovery Corp. to earn a 50% interest in the Walker Claims located along the prolific Key Lake fault adjacent to Cameco's Mine and Mill in the Athabasca Basin, Saskatchewan. The Walker Properties lie within the Wollaston‐Mudjactic transition zone (WMTZ) of the eastern Athabasca basin, which is host to the highest‐grade uranium mines in the world. The company also holds a 100% interest in the Hare Hill Pluton Rare Earth Project. This project comprises 162 claims totaling 4,050 hectares in Central Newfoundland and is directly contiguous to the "Bottom Brook Acquisition" by York Harbour Metals Inc. Carmanah has also entered an option agreement to acquire the Baie Verte Brompton Project in Central Newfoundland. This project is strategically located on a peninsula that hosts all of Newfoundland's current gold production, including Anaconda Mining Inc.'s Point Rousse gold mine and Rambler Metals Mining operations.
For further information, please view the Company's filings at www.sedar.com .
ON BEHALF OF THE BOARD
Fraser Rieche
Chief Executive Officer and Director
Email: info@carmanahcorp.ca
Telephone: +1 (604) 716-1036
Disclaimer for Forward-Looking Information:
This news release includes certain forward‐looking statements and forward‐looking information (collectively, "forward‐looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, the anticipated business plans and timing of future activities of the Company, anticipated completion of the Private Placements, including the approval of the Canadian Securities Exchange for the Private Placements, are forward‐looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward‐looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company's properties, that the COVID19 global pandemic will not affect the ability of the Company to conduct the exploration program on its mineral properties, the availability of financing on suitable terms, and the Company's ability to comply with environmental, health and safety laws.
Forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward‐looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's proposed expenditures for exploration work on its mineral projects, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to epidemics or pandemics such as COVID–19, as well as those factors discussed under the heading "Risk Factors" in the Company's prospectus dated April 4, 2022, and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward‐looking statements. The Company undertakes no obligation to update any of the forward‐looking statements in this news release except as otherwise required by law.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
Copyright (c) 2023 TheNewswire - All rights reserved.
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North Shore Uranium Ltd. (TSXV:NSU)("North Shore" or the "Company") is pleased to announce that on June 23, 2025, it signed a binding term sheet (the "Term Sheet") with Resurrection Mining LLC ("Resurrection"), an arm's length party, to acquire up to 87.5% of the Rio Puerco uranium project ("Rio Puerco" or the "Project") in northwestern New Mexico (the "Transaction").
TRANSACTION AND PROJECT HIGHLIGHTS
Brooke Clements, President and CEO of North Shore stated: "The Rio Puerco project in New Mexico offers us exposure to a uranium project in the USA with excellent upside and signficant historical exploration data including a historical resource estimate. The US government has recently enacted policies designed to accelerate nuclear power and uranium mining activity in the country. In the 1970s, Kerr-McGee commenced mine construction at Rio Puerco, but activity was halted after a short trial-mining phase due to low uranium prices. The Project offers a great opportunity to confirm and expand upon previous work through drilling, modern 3-D modelling and continued assessment of the ISR potential. On completion of the Transaction with Resurrection, we will have uranium exposure in two North American jurisdictions that have seen signficant uranium production, the Grants Uranium District and the Athabasca Basin, at a time when future supply-demand fundamentals look great for the industry."
Rio Puerco is located at the eastern end of the Grants Uranium District, approximately 60 kilometres northwest of Albuquerque, New Mexico (Figure 1). Mines that operated between 1950 and 2002 contributed to make the Grants Uranium District the leading historical uranium producing district in the United States.
Figure 1: Rio Puerco Location Map, New Mexico. Roca Honda (Energy Fuels), Marquez-Juan Tafoya (Anfield Energy) and Cebolleta (Premier American Uranium) are advanced exploration/development stage uranium projects.
RIO PUERCO PROJECT SUMMARY
Rio Puerco consists of 37 Bureau of Land Management mining claims and significant historic exploration and mining data as well as the rights to a water well. Historical exploration and development work by Kerr-McGee Corporation ( "Kerr McGee" ) in the 1960s and 1970s, and geologic and resource modelling work completed by two Australian companies in 2009 and 2011 validate the potential for Rio Puerco to host a significant uranium resource.
Uranium was first discovered at Rio Puerco in 1968. The claims covering the discovery were ultimately optioned to Kerr-McGee who drilled over 1,000 holes. Based on the results of that work, they began the development of the Rio Puerco Mine in the 1970s. The uranium mineralization is hosted in sandstone of the Jurassic-aged Morrison Formation, host to almost all of the significant uranium deposits in the Grants Uranium District. The mine was intended to be a room and pillar underground mine but was never put into production. Activity ceased after a short trial mining phase likely due to low uranium prices at the time. The underground mine infrastructure included a 260m vertical shaft, ventilation shafts, mining adits and support buildings. The mining shaft remains at the site and road access to the site is excellent.
In 2009, Monaro Mining NL ( "Monaro" ) commissioned an independent geological review and resource estimate for Rio Puerco using exploration data generated by Kerr-McGee in the 1960s and 1970s. The data used for the resource estimate consisted of historical maps and data from 764 drill holes including downhole gamma-ray data converted to percent equivalent U 3 O 8 (e U 3 O 8 ), geological logs and drillhole survey data. They reported a JORC 2004-compliant inferred resource of 6.0 million tonnes at an average grade of 0.09% eU 3 O 8 using a cutoff grade of 0.03% eU 3 O 8 for 11.4 million lbs. of contained U 3 O 8 1 (the " Historic Resource" ). JORC is the Australian Joint Ore Reserves Committee, a professional code of practice that sets minimum standards for public reporting of Mineral Resources.
In 2011, Australian-American Mining Corporation Ltd. commissioned a technical report on Rio Puerco. This most recent report validated and confirmed the Historic Resource 2 .
No significant exploration or development work has occurred at Rio Puerco since the 1970s.
HISTORICAL RESOURCE ESTIMATES FOR THE RIO PUERCO PROJECT
The historical resource outlined in this news release has not been verified and should not be relied upon. It is a historical estimate and not current and does not comply with Canadian NI 43-101 guidelines for the reporting of Mineral Resources. A qualified person has not verified the historical resource on behalf of the Company and North Shore has completed no work programs at Rio Puerco. Though not current, the Company views the historical resource estimates as reliable and sufficient to justify the initiation of work programs aimed at validating and potentially expanding upon the estimates. There is no guarantee that the work programs envisioned by North Shore will ultimately result in the definition of NI 43-101 compliant resources.
RIO PUERCO TERM SHEET
Completion of the Transaction is contingent on North Shore completing satisfactory due diligence, execution of a definitive agreement, completion of a minimum $750,000 financing by North Shore and approval by the TSX Venture Exchange (the "Exchange" ). A finder's fee may be payable to an arms-length third party upon completion of the Transaction. The following highlights key terms of the Term Sheet executed by North Shore and Resurrection, all currency references are in Canadian dollars:
NEXT STEPS
After completion of the Transaction, North Shore will begin working towards defining the first NI 43-101-compliant uranium resource at Rio Puerco. The Company's initial work will aim to verify historical data and determine whether a resource can be defined in accordance with NI 43-101. First, geologic models of the previously defined deposit will be prepared using drill hole summary logs containing the interpreted zones of uranium mineralization. A number of confirmation drill holes are required to confirm the historic uranium grade and uranium disequilibrium, and for metallurgical testing. For the first program, 20 to 40 holes are contemplated, a combination of diamond core holes and rotary holes where a downhole gamma ray probe is used to determine uranium content. After the results of that program are received and interpreted, a comprehensive drilling plan would be developed aimed at defining a resource. Data from the drill programs will be used to further evaluate the amenability of ISR mining.
ABOUT NORTH SHORE
The nuclear power industry is in growth mode as more nuclear power will be required to meet the world's ambitious CO 2 emission-reduction goals and the needs of new power-intensive technologies like AI. In this environment, new discoveries of economic uranium deposits will be very valuable, especially in established uranium-producing jurisdictions like Saskatchewan and New Mexico. North Shore is well-positioned to become a major force in exploration for economic uranium deposits. The Company is working to achieve this goal by exploring its Falcon and West Bear properties at the eastern margin of the Athabasca Basin in Saskatchewan, expanding its exploration efforts to include the Grants Uranium District in New Mexico and by evaluating other quality opportunities in the United States and Canada to complement its portfolio of uranium properties. North Shore summarized its exploration efforts at its Falcon property in a May 27, 2025 , news release.
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: 604.536.2711
Email: b.clements@northshoreuranium.com
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 contains 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", "project", "appear", "interpret", "coincident", "potential", "confirm", "suggest", "evaluate", "encourage", "likely", "anomaly", "continuous" and variations of these words as well as other similar words or statements that certain events or conditions "could", "may", "should", "would" or "will" occur. 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 factors include, among others: the completion and expected terms of the Transaction, the parties' abilities to meet the closing conditions of the Transaction, the number of securities to be issued by the Company in connection with the Transaction, receipt of all necessary approvals for the completion of the Transaction, the completion of satisfactory due diligence, execution of a definitive agreement, completion of a minimum $750,000 or any financing by the Company, and the Company's ability to meet the Milestones, make the bonus payments or meet other terms of the Transaction; the highly speculative nature of the Transaction given the early-stage nature of Rio Puerco; the actual results of current and planned exploration activities including the potential for the definition of a mineral deposit of potential economic value at the Company's Falcon property in Saskatchewan; that drilling results, geophysical survey results and/or interpretations thereof are defining potentially mineralized corridors; results from future exploration programs including drilling; interpretation and meaning of completed and future geophysical surveys; conclusions of future economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in grades of mineralization and/or future actual recovery rates; accidents, labour disputes and other risks of the mining industry; the availability of sufficient funding on terms acceptable to the Company to complete the planned work programs; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. 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. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
1 Monaro Mining NL, 2009, 250% increase in uranium resource inventory at Rio Puerco deposit, New Mexico USA: Monaro Mining NL ASX news release: (link)
2 Boyer, D. and Ostensoe, E., 2011, NI 43-101 technical report, Rio Puerco deposit, Sandoval county, New Mexico, USA: Independent report commissioned by Australian-American Mining Corporation Ltd.: (link)
Stallion Uranium (TSXV:STUD,OTCQB:STLNF) is a Canadian exploration company focused on unlocking new discoveries in the underexplored southwestern Athabasca Basin—an emerging frontier with exceptional geological potential. With more than 709,000 acres under control, Stallion holds one of the largest land positions among junior explorers in the region.
As global uranium demand accelerates—driven by over 900 reactors in operation, construction, or planning—Stallion is well-positioned to benefit from a growing supply gap. The Athabasca Basin, known for uranium grades up to 20 times the global average, remains the world’s premier jurisdiction for high-grade uranium exploration.
Stallion Uranium holds one of the largest underexplored land packages in the Athabasca Basin, covering more than 709,000 acres in the highly prospective southwestern region. Using advanced geophysics and a proven exploration framework, the company has systematically identified and ranked nine Tier-1 uranium targets across its portfolio. From these, three high-priority corridors have been selected for near-term exploration—each displaying the key geological and structural characteristics associated with major high-grade discoveries in the Basin.
This Stallion Uranium profile is part of a paid investor education campaign.*
Click here to connect with Stallion Uranium (TSXV:STUD) to receive an Investor Presentation
Stallion Uranium offers investors a rare opportunity to gain early exposure to a company with one of the largest underexplored land packages in the world’s premier uranium district – the Athabasca Basin – guided by a discovery team with a multi-billion-dollar track record.
Stallion Uranium (TSXV:STUD,OTCQB:STLNF) is a Canadian uranium exploration company positioned for discovery in the southwestern Athabasca Basin, a frontier zone that holds tremendous untapped geological potential. With a landholding of over 709,000 acres, Stallion controls one of the largest and least explored portfolios among junior explorers in the region.
The company is leveraging a surging uranium demand, driven by more than 900 reactors across the globe currently in operation, construction or planning stages. Amid a uranium supply shortage, the Athabasca Basin, with uranium grades up to 20 times the global averages, represents the best place in the world to find the next major high-grade discovery.What sets Stallion apart is not just its land position, but the pedigree of its team. CEO Matthew Schwab was a key figure in the discovery of NexGen’s Arrow deposit, one of the most significant uranium finds of the past decade.
Over the past two years, Stallion has deployed airborne and ground geophysics across its land package, culminating in the identification of nine Tier-1 uranium targets. The top three – Coyote, Fishhook, and Lynx – have now been prioritized for drilling. Each of these targets exhibits the structural complexity, conductive trends, and gravity signatures characteristic of world-class deposits.
With drilling mobilization planned for H2 2025, a lean share structure, and one of the most technically credible teams in the sector, Stallion Uranium is well-positioned to create significant shareholder value through discovery.
Stallion Uranium controls one of the largest underexplored land packages in the Athabasca Basin, spanning over 709,000 acres in the highly prospective southwestern region. Leveraging advanced geophysical techniques and a proven exploration model, the company has systematically identified and ranked nine Tier-1 uranium targets across this vast portfolio. From this group, Stallion has prioritized three high-potential corridors for near-term exploration, each exhibiting the geological signatures and structural features consistent with major discoveries in the Basin.
Located in the heart of Stallion’s southwestern Athabasca holdings, Coyote was first defined by a 2023 VTEM Plus survey, which revealed intersecting east-west conductors within a structurally complex zone. The Athabasca sandstone here is ~450 meters thick, a sweet spot for unconformity-style uranium systems. A Q1 2025 gravity survey revealed a large gravity low anomaly that mirrors the Arrow deposit's signature. Historical intersections just 12 km south reported up to 255 parts per million (ppm) uranium oxide (U₃O₈), reinforcing the region’s prospectivity. Coyote is currently undergoing 3D inversion modeling and is the company’s first drill target, with a campaign slated for late 2025.
This 18-km trend remains completely untested by drilling and was delineated using MobileMT surveys. Located along a mineralized corridor where historic assays 8 km south returned 0.139 percent U₃O₈, Fishhook is defined by merging conductive features and massive cross-structures, ideal for uranium fluid trapping. The convergence with the Five of Diamonds Trend underscores the corridor’s structural intensity. With similarities to productive zones in the Basin, Fishhook is poised for follow-up geophysics and potential drill targeting.
Stallion’s high priority targets.
Adjacent to Orano’s Uchrich project, Lynx features a 13-km-long conductor hosted in a magnetic and gravity low, often indicative of the required lithological and alteration conditions. MobileMT data shows complex conductive and magnetic responses, further suggesting active hydrothermal systems. Entirely untested by drilling, Lynx represents a high-quality greenfield opportunity with plans for additional groundwork in 2025.
A highly respected exploration geologist, Matthew Schwab played a leading role in the discovery of NexGen’s Arrow deposit and contributed to Hathor’s Roughrider (acquired by Rio Tinto for $654 million). He previously served as CEO of Kraken Energy.
Darren Slugoski is a geologist with a B.Sc. Honours from the University of Saskatchewan. He has over 10 years of Basin-focused experience, including involvement in the Spitfire and 2021 Gemini discoveries.
With 20+ years of capital markets experience, Knox Henderson is the former investor relations lead for Great Bear Resources (acquired by Kinross for $1.8 billion) and Kodiak Copper. His background is in trading and journalism.
Dong Shim is a CPA in British Columbia and Illinois, with a deep background in auditing junior miners and supporting public listings on TSXV, CSE and OTC.
Kelly Pladson has been a regulatory and compliance specialist since 2009, managing TSXV and CSE company filings and governance.
Jay Martin is the CEO of Cambridge House, Canada’s top investment conference producer. He offers broad industry visibility and strategic insight.
Terri Anne Welyki is a mining veteran with 15+ years of experience in permitting, stakeholder engagement, and corporate development across North and South America.
A CFA and former derivatives portfolio manager, Drew Zimmerman brings financial discipline and capital markets acumen to board-level strategy.
Vanguard Mining Corp. ("Vanguard" or the "Company") (UUU: CSE) (RECHF: OTC) (SL5: Frankfurt) is pleased to announce that, further to its Letter of Intent (“LOI”) dated April 8, 2025, it has entered into a Definitive Share Purchase Agreement (the “Agreement”) to acquire all of the outstanding shares of 1302343 B.C. LTD. (“BC LTD”) which holds an 85% interest in Paraguay Uranium S.A. (“Paraguay Uranium”) that owns four concessions comprising the Yuty Prometeo Project in southeastern Paraguay, the terms of which are outlined below (“Transaction Terms”).
The four concessions — including the three San Jose and one Yuty Uno concession — collectively span approximately 90,000 hectares (222,395 acres) within the prolific Paraná Basin, one of South America’s most promising uranium regions. The project area is located adjacent to Uranium Energy Corp.’s (“UEC”) established Yuty Deposit, which hosts an Indicated resource of 8.96 million pounds of U₃O₈.
This acquisition follows the Company’s previously announced updates on April 17 and June 12, 2025. Vanguard expects to complete site visits, including core review and data compilation, within the next two weeks. The Company is targeting the completion of its maiden NI 43-101 Technical Report within three weeks.
David Greenway, CEO of Vanguard Mining Corp., commented, "The acquisition of the Yuty Prometeo concessions represents a transformative step forward in Vanguard’s uranium exploration strategy. These highly prospective concessions, located adjacent to UEC’s established Yuty multi-million-pound deposit, position us in one of the most promising uranium regions in South America. We are excited to build on the historical exploration and leverage modern techniques to unlock the project's full potential."
Transaction Terms
Under the terms of the Agreement entered into with 1302343 BC Ltd. and its shareholders (collectively, the “Vendors”), Vanguard will acquire 100% of the issued and outstanding shares of BC LTD. BC LTD which holds an 85% interest in Paraguay Uranium S.A., which in turn owns a 100% legal and beneficial interest in the Yuty Prometeo concessions in southeastern Paraguay. The concessions are contiguous to UEC’s Yuty Deposit, which hosts an Indicated resource of 8.96 million pounds of U₃O₈.
Vanguard has agreed to purchase all of the outstanding shares of BC LTD and its 85% interest in Paraguay Uranium S.A. by:
The Agreement remains subject to customary due diligence, Closing and applicable regulatory approvals. All securities issued in connection with the transaction will be subject to a four-month and one-day hold period in accordance with Canadian securities laws.
About the Yuty Prometeo Project
The Yuty Prometeo consists of four (4) concessions—three (3) San Jose concessions and one (1) Prometeo concession—covering a combined area of approximately 90,000 hectares (222,395 acres) within the uranium-rich Paraná Basin in southeastern Paraguay.
The Prometeo Concession spans approximately 27,666 hectares (68,368 acres) and is directly contiguous to UEC’s Yuty Project. Historical records reference 28 drill holes on the property, with uranium values ranging from 0.05% to 0.10% U₃O₈. Data from previous work by the Anschutz Corporation suggest that the Prometeo block lies on trend with UEC’s adjacent Transandes block.
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Figure 1: Project map of the Yuty Prometeo Concessions showing regional road access, Vanguard’s San Jose and Prometeo concession boundaries, and the adjacent Uranium Energy Corp. (UEC) Yuty Project.
The San Jose Concessions encompass approximately 62,210 hectares (153,754 acres) across three contiguous claims situated along the Upper Permian–Carboniferous contact, approximately 100 km northwest of UEC’s Yuty Project and 40 km west of its Coronel Oviedo Project. A radiometric car survey conducted over a 40 km by 10 km area delineated significant uranium anomalies across the property. Collectively, these concessions represent a strategically positioned and highly prospective uranium exploration asset within one of South America’s most promising uranium districts.
Notes:
Vanguard concession blocks are shown as Vanguard Mining and outlined with black-orange lines. Radiometric anomalies: Increasing intensity is shown in yellow-pink-red-violet-blue.
About UEC’s Yuty ISR Project
The Yuty ISR Project, owned by UEC, covers approximately 117,359 hectares (290,000 acres) and is located about 200 kilometers east and southeast of Asunción, the capital of Paraguay. Positioned within the Paraná Basin, the area hosts several known uranium deposits, including Figueira and Amorinópolis in Brazil. Preliminary studies indicate the deposit is amenable to in situ recovery (“ISR”) — the same low-cost extraction method UEC successfully employs at its operations in Texas.
Modern exploration of the Yuty Project began in 1976, when Anschutz of Denver, Colorado, conducted regional uranium exploration under a joint venture with Korea Electric Power Corporation and Taiwan Power Company. Working under an exclusive concession covering 162,700 square kilometers, nearly the entire eastern half of Paraguay, Anschutz identified multiple target areas, including Yuty. From 1976 to 1983, the company drilled approximately 75,000 meters of core and rotary holes, halting further work due to declining uranium prices.
In July 2006, CUE Resources Ltd. (“CUE”) acquired an option on the Yuty Project and launched its own rotary and diamond drilling campaigns. Between 2007 and 2010, CUE completed 256 drill holes totaling 31,000 meters, ultimately acquiring 100% ownership of the project.
On March 30, 2012, UEC acquired all outstanding shares of CUE Resources Ltd., securing a 100% undivided interest in the Yuty Project.1
Resource Estimates
The current disclosed resource for UEC’s Yuty Project is 8.962 million lbs of U308 Indicated, and 2.203 million lbs of U308 Inferred, which has been finalized in a technical report prepared for UEC titled “Yuty Uranium Project Initial Assessment US SEC Subpart 1300 Regulation SK Report, Paraguay SA” dated July 1, 2022. 2
Vanguard’s management cautions that past results or discoveries on properties adjacent to Vanguard’s projects may not be indicative of mineralization on the Company’s own properties.
About Paraguay
The Republic of Paraguay is an emerging mining jurisdiction in the heart of South America, bordered by Brazil, Argentina, and Bolivia. Known for its political stability, low sovereign risk, and investor-friendly regulatory environment, Paraguay offers a supportive framework for mineral exploration and development. The country has a democratic government, strong legal protections for foreign investment, and a growing interest in unlocking its untapped mineral potential, particularly in uranium, rare earth elements, and base metals. With abundant land, a relatively low population density, and improving infrastructure, Paraguay is increasingly recognized as a geopolitically stable and strategically attractive destination for mining companies seeking long-term growth opportunities.
About Vanguard Mining Corp.
Vanguard Mining Corp. is a mineral exploration and development company dedicated to the discovery and advancement of high-value strategic mineral assets. The Company is focused on creating long-term value through the responsible acquisition and development of highly prospective projects located in stable, mining-friendly jurisdictions worldwide.
All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, X.com, Facebook and Instagram and sign up for updates at Vanguardminingcorp.com
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Lawrence Segerstrom, a consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”).
On Behalf of the Board of Directors
“David Greenway”
David Greenway, CEO
For further information, please contact:
Vanguard Mining Corp.
Brent Rusin
Phone: +1 672-533-0348
E-Mail: brent@vanguardminingcorp.com
Website: vanguardminingcorp.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Vanguard’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Vanguard will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Vanguard’s results of exploration or review of properties that Vanguard does acquire. These forward-looking statements are made as of the date of this news release and Vanguard 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, except in accordance with applicable securities laws.