ALX Uranium

A Premier Uranium Explorer in Canada’s Athabasca Basin

This ALX Uranium Corp. profile is part of a paid investor education campaign.*

Overview

ALX Uranium Corp. (TSXV:AL;FWB:6LLN;OTC:ALXEF) has built a strong portfolio of prospective uranium properties totaling over 200,000 hectares in one of the world’s richest uranium districts, Saskatchewan’s Athabasca Basin. The company is actively exploring its projects with a focus on integrating modern exploration techniques with historical data to identify high-priority drill targets. In recent months, ALX Uranium has diversified its commodity focus through the acquisition of nickelcoppercobalt exploration properties in northern Saskatchewan, a group of copper-zinc prospects in Norway and a gold project in the Red Lake mining district in Ontario, Canada.

The Hook-Carter project is the cornerstone of ALX Uranium’s portfolio and is on trend with some of the most notable uranium discoveries in the region, including the Triple R deposit at Patterson Lake South (PLS). In 2016, the company sold an 80 percent interest in the property to Denison Mines Corp. (TSX:DML) for 7.5 million common shares of Denison, and Denison has agreed to fund the first $12 million in exploration expenditures.

Denison, as operator of exploration, has completed 15 holes totaling approximately 11,757 meters in three drill programs at Hook-Carter during 2018 and 2019. The initial Phase 1 and 2 drilling programs have encountered favorable structure and alteration. Additionally, initial geochemical results show significant concentrations of uranium pathfinder elements.

In addition to its Hook-Carter project, ALX Uranium owns or has an interest in over 20 other properties in the Athabasca Basin, with a focus on developing the Close Lake, Newnham Lake, Black Lake and Lazy Edward Bay properties. For the other properties within ALX Uranium’s portfolio, the company continues to review current and historical exploration data in pursuit of target generation for future exploration programs.

ALX Uranium is led by an impressive management and technical team with a wealth of experience in the uranium mining industry, especially in the Athabasca Basin. ALX Uranium’s CEO Warren Stanyer has held corporate and director positions in several Athabasca uranium companies, including Alpha Minerals Inc. (TSXV:AMW), which was a 50 percent partner in joint venture responsible for the PLS uranium discovery made in 2012, now known at the Triple R deposit.

ALX Uranium’s President and Chief Geologist Sierd Eriks has a long track record of success in the Athabasca Basin and directed the exploration programs responsible for establishing mineral resources for three uranium deposits. Finally, ALX Uranium’s Technical Committee Chairman Charles Roy has a 40-year uranium mining career, which includes 33 years at Cameco Corporation. His expertise is centered on the unconformity uranium model and exploration methods utilized in the Athabasca Basin.

ALX Uranium’s Company Highlights

  • One of the strongest portfolios of uranium properties in the Athabasca Basin; drill‐ready projects and targets on trend with existing discoveries.
  • Led by a professional administrative team with extensive technical and field experience in mineral exploration.
  • Properties selected in mining districts with well‐established infrastructure and low geopolitical risk.
  • Exploration philosophy integrates modern techniques with historical database.
  • Denison has committed to $12 million in exploration expenditures at Hook-Carter uranium project.
  • ALX Uranium has the opportunity to acquire up to a 51 percent participating interest in the Close Lake uranium project from Orano Canada Inc.
  • Exploration completed in 2018 and 2019 includes work at Newnham Lake, Lazy Edward Bay, Argo, Perch and Tango properties.
  • The Falcon nickel and Flying Vee nickel-copper-cobalt projects were acquired in Saskatchewan in 2019.
  • The Vixen gold project was acquired in the Red Lake mining district in Ontario, Canada in 2019.

ALX’s Uranium Projects in Canada’s Athabasca Basin

alx uranium

Hook-Carter

The Hook-Carter uranium project covers 24,262 hectares in the emerging PLS district located in the southwestern portion of Saskatchewan’s Athabasca Basin. In 2016, the company sold an 80 percent interest in the property to Denison for 7.5 million common shares of Denison, and Denison has agreed to fund the first $12 million in exploration expenditures. The property lies at the northeastern end of three important structural conductor trends: Patterson Lake, Derkson and Carter.

The Patterson Lake trend hosts three of the Athabasca region’s most notable recent discoveries, which are within 8.5 to 20 kilometers of Hook-Carter: Fission Uranium Corp.’s (TSX:FCU) Triple R deposits, NexGen Energy’s (TSX:NXE) Arrow deposit and the Purepoint Uranium Group Inc. (TSXV:PTU), Cameco Corporation (TSX:CCO) and Orano Canada Inc. joint venture’s Spitfire and Dragon zones.

The three discoveries are located at crosscutting structural trends along the northeast-southwest corridor, two of which host known uranium deposits

Historical Exploration

Between 250 and 700 meters of sandstone cover overlies the basement rocks that define the structural trends present at Hook-Carter, indicating the potential for both basement-hosted and unconformity-hosted uranium mineralization. The results of historical exploration work at Hook-Carter—including boulder and lake sediment sampling, airborne and ground electromagnetic (EM) surveys, and drilling—further indicate prospectivity for uranium mineralization on the property.

Historically at Hook-Carter, only five holes were drilled along the Patterson Lake Corridor and three holes on the Derkson Corridor prior to 2013. These holes were shallow with few of them drilled more than 100 meters past the sandstone unconformity, leaving the basement rocks unexplored.

A 2014 interpretation report completed by Condor Consulting Inc. reviewed recent airborne EM and magnetic geophysical surveys conducted on the property by CGG Aviation and identified several high-priority target areas at Hook-Carter. In 2016, Peridot Geoscience completed an interpretation report that identified several geochemical and radiometric anomalies coincident with the targets described in the earlier Condor report.

Ongoing Exploration

As the operator of the property, Denison has agreed to fund the first $12 million in exploration costs. Following initial geophysical exploration work that was conducted in 2017, the company launched an inaugural drilling program in February 2018 totaling 3,062 meters. Initial results from four completed holes exhibited characteristics of a wide-spread alteration system. The features from this system include intense desilification of the sandstone as well as altered and faulted graphitic metasediments. Two holes also returned elevated radioactivity values of up to 184 counts per second.

The 2018 inaugural drilling programs at Hook-Carter tested an initial set of regional scale geophysical targets along 7.5 of the 15 kilometres of interpreted strike length of the PLC at the project. The nine completed reconnaissance holes, totaling 6,960 metres, successfully identified multiple prospective trends of strong hydrothermal alteration in both the sandstone and basement lithologies associated with graphitic basement structures. These features are consistent with unconformity-related mineralizing systems in Athabasca Basin uranium deposits and provide a strong indication of the continuation of the mineralizing system within the PLC at Hook-Carter.

In April 2019, Denison completed its 4,797-meter winter drilling program of six holes at Hook-Carter. The goal of the 2018 and 2019 programs was to test high-priority geophysical targets first identified in 2017. To date, the Hook-Carter drilling has encountered favorable structure and alteration in the majority of the drill holes and initial geochemical results show significant concentrations of uranium pathfinder elements.

Close Lake

In April 2019, ALX Uranium signed a binding option agreement with Orano to earn up to a 51 percent participating interest from Orano in the 38,679-hectare Close Lake uranium project. Currently, the property is 74.40 percent held by Orano, 14.99 percent by Cameco and 10.61 percent by JCU (Canada) Exploration Company Ltd.

Numerous base metal and uranium showings have been discovered from drilling at Close Lake since 1978. The eastern boundary of the property adjoins the Cigar Lake uranium mine property and the McArthur River uranium property is to the south. Close Lake is accessible by winter trail from Cigar Lake and Points North Landing, each of which has all-weather road access and nearby infrastructure, including airports.

Historical Exploration 

Historical drilling at Close Lake totals approximately 110,049 meters. Uranium mineralization has been intersected at or near the unconformity between the Athabasca sandstone and basement rock units at downhole depths ranging between 463 meters and 682 meters.

In 1985, a predecessor company of Orano encountered a significant intersection of 1.52 percent U3O8 over 23 meters including 11.46 percent U3O8 over 2.5 meters on the Tucker Lake C-5 trend in the northeastern portion of the project. Follow-up drilling intersected 0.06 percent U3O8 over 1.5 meters and 1.21 percent U3O8 over two meters.

alx uranium

Drilling in 1997 on the C-1 East trend intersected a wide interval of 0.34percent U3O8 over 107.3 meters including 2.86 percent U3O8 over 8.5 metres and two percent U3O8 over 1.5 meters. Follow-up drilling in 1998 encountered 0.28 percent U3O8 over 0.5 meters and 0.06 percent U3O8 over 3.5 meters.

To date, the grades, widths and lithologies encountered provide evidence that Close Lake could host a mineralizing system similar to those previously found within the Wollaston belt, which has produced over 900 million pounds of U3O8 during the past 40 years.

In September 2019, the company, through the joint venture operated by Orano, began a drilling program planned to consist of approximately 3,000 meters in up to four holes on prospective targets at Close Lake.

Newnham Lake

The 100 percent owned Newnham Lake uranium project covers 18,524 hectares at the northeastern margin of the Athabasca Basin. The geology of the property is prospective for uranium mineralization with a folded 25-kilometer strike length of conductive basement rocks present under a shallow sandstone cover of less than 100 meters in depth. Recent reinterpretation of historical data along with modern exploration techniques suggests basement-hosted uranium style targets are present on the property.

A suite of modern airborne and ground geophysical work (ZTEM, VTEM, gravity and magnetic surveys) was completed on the property by the previous operator. ALX Uranium re-interpreted and integrated the results of the historical surveys to search for deeper mineralization than was historically encountered, as most previous drill holes were stopped at very shallow depths. A 3D IP/resistivity ground geophysical survey was completed in 2017 as a complement to the geophysical compilation prior to drilling the best targets.

The 2017 geophysical exploration program was focused on defining basement-hosted uranium targets up to 700 meters below unconformity. This led to the completion of a drilling program in 2018 consisting of 1,164 meters in three holes to test high priority geophysical targets.

Highlights of the 2018 drilling program include:

  • Hole NL18-001 intersected approximately 6.0 meters of elevated radioactivity straddling the Athabasca unconformity, which included visible pitchblende. A 5.7 metre interval averaged 0.035 percent U3O8 from 100.8 to 106.5 meters, including a sample containing 0.118 percent U3O8 over 0.5 meters;
  • Hole NL18-002 encountered a fault zone just above the unconformity consisting of highly brecciated, broken and rubbly core with elevated radioactivity; and
  • Hole NL18-003 intersected a large fault zone approximately 62 meters wide deep in the basement rocks with brecciation, fracturing and evidence of strong hydrothermal alteration.

Black Lake

In September 2017, ALX Uranium signed an option agreement with UEX Corporation (TSX:UEX) whereby ALX Uranium can earn up to a 75 percent participating interest in the Black Lake project in the northeastern Athabasca Basin. The company currently holds a 40 percent interest in the property. The Black Lake project consists of 12 mineral claims totalling 30,381 hectares near Stony Rapids, Saskatchewan with all-weather access and nearby infrastructure. It also lies adjacent to ALX Uranium’s Gibbons Creek project.

In 2004, UEX intersected significant uranium mineralization with results of 0.69 percent U3O8 over 4.4 meters, including 1.09 percent U3O8 over 1.5 meters. This sparked UEX and other companies to conduct further work in the northern Athabasca Basin.

ALX Uranium conducted diamond drilling in 2017 totaling 2,830 meters in five holes. During the drilling, the company intersected pitchblende veinlets in drill core. In March 2019, the company carried out a radon and helium survey at Blake Lake.

Lazy Edward Bay

The 100 percent owned Lazy Edward Bay uranium project covers 23,271 hectares along the southern margin of the Athabasca Basin. The property is located 55 kilometers west of the Key Lake uranium deposit and 55 kilometers east of the Centennial uranium deposit. Lazy Edward Bay hosts a shallow sandstone cover of less than 200 meters in depth and at least eight underexplored conductive trends.

Recent airborne EM and gravity, ground EM and radon‐in‐water surveys along with geochemical interpretation have led to defined targets for a future drill campaign on the property. ALX Uranium completed a low-level airborne radiometric and magnetic survey of approximately 4,000 kilometers in 2018.

Argo

The 17,393-hectare Argo project is located in the southwestern portion of the Athabasca Basin. The property covers prospective ground in between ALX Uranium’s Kelic Lake project to the west and Cameco’s Centennial uranium deposit and Dufferin uranium zone to the east

In the mid-2000s, airborne and ground geophysical surveys were completed on the property. The surveys were re-interpreted in 2018 using new geophysical modelling and a new basement conductor was identified through the modeling process. ALX Uranium subsequently conducted a high-sensitivity airborne radiometric survey over the property in 2018 and determined that the strike length of the new conductor could represent a potential source area for uranium mineralization.

In 2019, ALX Uranium carried out a follow-up ground prospecting program on the Argo property as follow up on the highest-priority radioactive anomalies identified in the 2018 airborne radiometric survey.

alx uranium

Falcon Nickel

In June 2019, ALX Uranium staked claims totaling 7,169-hectares at the Falcon nickel project in Saskatchewan, located within the Axis Lake area. Additional claims were acquired in October 2019, which increased the size of Falcon to 12,233 hectares and gave the company control of the known strike lengths of three separate nickel-copper-cobalt deposits at Falcon, as outlined by historical explorers. Falcon is located approximately 14 kilometers north of Stony Rapids in the Snowbird tectonic zone and shows potential for hosting economic nickel- copper-cobalt deposits.

A long history of exploration beginning in 1929 discovered numerous nickel-copper-cobalt showings within Falcon’s boundaries, including the Axis Lake deposit, the Rea Lake deposit and the Currie Lake deposit.

alx uranium falcon nickel

Axis Lake is the most significant nickel-copper-cobalt deposit within the Falcon area and was the subject of historical, non-compliant mineral resource estimates variously reported as:

  • 3.75 million tons grading 0.60 percent nickel, 0.60 percent copper and 0.15 percent cobalt
  • 3.4 million tons grading 0.60 percent nickel and 0.60 percent copper,

Historical mineral resource estimates for Rea Lake are reported as 70.4 million tons grading 0.10 percent copper and 0.10 percent nickel plus traces of gold and silver. Historical mineral resource estimates for Currie Lake of 47,536 tonnes grading 0.79 percent nickel are also reported.

* The historical mineral resource estimates listed above use categories that are not consistent with National Instrument 43-101 (“NI 43-101”) and cannot be compared to NI 43-101 categories, and should not be relied upon. A qualified person has not done sufficient work to classify the estimates as current resources and ALX is not treating the estimates as a current resource estimates.  However, the estimates are relevant to guiding the Company’s exploration plans and provide geological information regarding the type of mineralization that could be present in the Falcon Nickel area.

ALX Uranium has produced a 3D geological model for Falcon of the known nickel-copper-cobalt deposit areas. The company plans to integrate the model with the results of recently reinterpreted airborne surveys with modern modeling programs. The company’s goal is to generate new exploration targets peripheral to the already identified historical nickel-copper-cobalt deposits.

Flying Vee

In April 2019, ALX Uranium completed the staking of the 27,056-hectare Flying Vee project located in the northern Athabasca Basin area approximately 25 kilometers north of Stony Rapids, Saskatchewan. Numerous mineral showings have been found on or near Flying Vee, such as the on-property Reeve Lake nickel showing and the proximal Axis Lake, Rae Lake and Currie Lake nickel-copper-cobalt deposits located to the south.

alx uranium flying vee

Two periods of historical exploration occurred at the Flying Vee project between 1956 and 1988, and 2007 and 2009. The exploration activities included prospecting, mapping, trenching, airborne and ground geophysical surveys and drilling. Between 1957 and 1962, several trenches were completed in the eastern part of the Reeve Lake showing area that outlined norite-hosted nickel-copper mineralization at surface. Drilling in the area returned up to 0.89 percent nickel and 0.32 percent copper over 3.66 meters.

In 1968, a gossan zone was discovered at Day Lake, which hosted disseminated pyrite and arsenopyrite mineralization that returned 4.80 g/t gold over 1.5 metres, including a selected grab sample assaying 27.77 g/t gold. Drilling in the Day Lake area in 1988 intersected anomalous gold and silver mineralization.

Airborne geophysical surveys completed in 2007 detected a conductive zone and coincident magnetic anomaly at Nickel Lake, which was drill tested the following year. Drilling returned 1.89 percent nickel, 0.96 percent copper and 0.11 percent cobalt over a 0.8-meter interval.

ALX Uranium’s review of historical exploration on the Reeve Lake showing has identified multiple opportunities for future exploration. The company plans to explore Flying Vee in conjunction with its exploration efforts at the nearby Falcon nickel project.

Draco VMS

In October 2019, ALX Uranium acquired the 100 percent-owned Draco VMS project located in the Grong mining district in central Norway. The claims are prospective for copper, zinc, gold and silver mineralization. The company staked 10 claims totaling approximately 5,959 hectares in May 2019 following its study of surface mineral showings integrated with historical airborne magnetic and electromagnetic survey data, which identified trends that could represent potential zones of VMS-style mineralization. 

alx uranium draco

Draco consists of three sub-projects: Valkyrie, Fero and Vektor. 

Valkyrie is comprised of six claims totaling 4,350 hectares, with target areas located approximately nine kilometers west-southwest of the past-producing Joma mine (reported historical resources of 22.5 million tons of 1.6 percent copper and 1.5 percent zinc). Mining from 1972 to 1998 at the Joma mine produced 171,000 tonnes copper, 166,000 tonnes zinc and an unknown amount of gold and silver from 11.45 million tonnes of ore.

Fero is comprised of two claims totaling 813 hectares, with target areas located approximately one kilometer from the Skiftesmyr VMS deposit. Indicated mineral resources at Skiftesmyr total 3.51 million tonnes of one percent copper, 1.5 percent zinc, 0.1 g/t gold and 2.5 g/t silver, and Inferred mineral resources total 0.57 million tonnes of one percent copper, 1.6 percent zinc, 0.1 g/t gold and 2.7 g/t silver, with each estimate calculated using a cut-off grade of 0.5 percent copper.

Vektor is comprised of two claims totaling 796 hectares, with target areas located approximately five kilometers north-northwest of the past-producing Gjersvik mine (reported historical resource of 1.62 million tonnes, of which 500,000 tonnes grading 2.15 percent copper and 0.5 percent zinc were mined from 1993 to 1998).

The historical mineral resource estimates listed above either use categories that are not compliant with National Instrument 43-101 (“NI 43-101”) and cannot be compared to NI 43-101 categories, or are not current estimates as prescribed by NI 43-101, and therefore should not be relied upon. A qualified person has not done sufficient work to classify the estimates as current resources and ALX is not treating the estimates as a current resource estimates.  However, the estimates are relevant to guiding the Company’s exploration plans and provide geological information regarding the type of mineralization that could be present in the Draco project area. Mineralization hosted on adjacent properties is not necessarily indicative of mineralization that may be hosted on the Company’s Draco project.

The Grong-Stekenjokk area of central Norway and west-central Sweden is one of the most important areas for copper-zinc VMS deposits in the Caledonides. Four mines have operated in the area (Stekebjokk, Skorovas, Joma and Gjersvik) with a total production of 24.5 million tonnes in the period 1952 to 1998.  In the last four decades, there has been a lack of exploration for minerals in Norway, due to a greater focus on oil and gas exploration. 

Recognizing the potential of the area, ALX Uranium has applied its first-pass geoscientific techniques to select prospective areas within underexplored open ground. The company has also engaged a geophysical consultant to perform detailed modeling on the electromagnetic trends within the three Draco sub-projects. The company plans conduct exploration on the anomalies and follow-up geochemical and ground geophysical surveys at Draco.

Tango

In July 2018, ALX Uranium acquired the Tango property from DG Resource Management Ltd., a private company controlled by a director of ALX Uranium. The property contains eight claims totalling 13,709 hectares that are prospective for nickel-copper-cobalt mineralization within the Mudjatik domain.

Tango is located approximately 175 kilometers northwest of La Ronge, Saskatchewan. In 2018, ALX Uranium completed a ground geophysical survey in conjunction with a reconnaissance prospecting and trenching program at Tango.

Exploration for uranium carried out in the 1970s discovered showings of gold, nickel, cobalt and copper in outcrop samples. In 1979, Golden Eagle Oil and Gas Ltd. conducted surface prospecting on the property as part of a larger regional exploration program for uranium and base metals. Lake sediment samples taken from the Tango property showed anomalous values of nickel, copper, cobalt and zinc. Grab samples from a historical showing known as the Sunlite Trench returned up to 5.83 g/t gold, 3.60 g/t silver, 0.326 percent nickel, 0.497 percent copper and 0.499 percent cobalt.

The following year, Golden Eagle re-trenched and re-sampled a gold-bearing quartz vein at the Sunlite trench which returned a grab sample grading 18 g/t gold and 0.16 percent copper. Further exploration work was recommended for the property, but was not carried out and the mineral permit lapsed in 1984. Other precious metals explorers carried out surface sampling for gold and follow-up ground geophysical programs, but by 1992 exploration ceased without any drilling having been carried out within the area of the property.

Vixen Gold

The Vixen gold project consists of three sub-projects totaling 10,008 hectares staked within the Birch-Uchi greenstone belt, located approximately 60 kilometers east of Red Lake, Ontario. Vixen is 100 percent owned by the ALX Uranium and is subject to a two percent NSR.

alx uranium vixen gold

ALX Uranium has agreed to acquire Vixen after its review of historical surface exploration carried out by the Ontario Geological Survey (OGS) and of Province of Ontario assessment records describing gold showings and past-producing mines located near the Vixen claims.

Vixen South demonstrates a credible setting for significant gold mineralization. In 1991, pristine gold grains were found by the OGS in till samples collected from Vixen South, which is a possible indication of an on-property source. Vixen South and Vixen West each lie within 10 kilometers of past-producing gold mines, and each lie within approximately 25 kilometers from the First Mining Gold Corp.’s (TSX:FF) Springpole gold deposit. The Springpole deposit hosts an indicated mineral resource estimated at 139.1 million tonnes containing 4.67 million ounces of gold and 24.19 million ounces silver at an average grade of 1.04 g/t gold and 5.4 g/t silver.

Vixen North is located approximately six kilometers northwest of Springpole near other high-grade gold deposits and hosts historical showings in surface trenching with gold values ranging up to 9.5 g/t gold.

ALX Uranium’s Board of Directors and Management Team

Warren Stanyer — Chairman and CEO

Warren Stanyer has over 23 years of experience in the mineral exploration industry, focused mainly on the search for new uranium deposits in the Athabasca Basin. He previously held the positions of Corporate Secretary and Vice President, Corporate Development for Pioneer Metals until its acquisition by Barrick Gold Corporation in 2006, and in UEX Corporation until 2007. In 2007, he began consulting for Northern Continental Resources, a junior exploration company focused on uranium in the Athabasca Basin. He was appointed President and CEO in 2008, and in 2009 he steered the successful sale of the company to Hathor Exploration Limited.

Mr. Stanyer has also held executive-level and director positions at Guyana Frontier Mining Corp., and at Alpha Minerals Inc., which was acquired in 2013 by Fission Uranium Corp. following the Patterson Lake uranium discovery. Currently, he serves as President, CEO and a Director of Nevada Sunrise Gold Corporation. He is also a Director of New Moon Minerals Corporation, a private mineral exploration company.

Sierd Eriks, P. Geo. — President and Chief Geologist

Sierd Eriks has worked in mineral exploration for over 38 years with a focus on uranium exploration for the past two decades. Between 1979 to 1998, he gained geological and managerial experience with major mining companies, including Saskatchewan Mining and Development Corporation (now Cameco Corporation), Falconbridge Limited, Noranda Exploration Co. Ltd. and Cogema Resources Inc. (now Orano Canada Inc.) in base metals, gold, platinum group metals, and uranium exploration.

In 1999, he became a consulting geologist and worked on numerous uranium exploration programs in the Athabasca Basin. Prior to joining ALX, Mr. Eriks was Vice-President, Exploration with UEX Corporation from 2007 to 2014. In this position, he managed projects with annual exploration budgets of up to $29 million and directed drilling programs leading to the establishment of mineral resources for three uranium deposits in the eastern Athabasca Basin.

Jody Dahrouge, B.Sc., Sp.C., P. Geo. — Director

Jody Dahrouge is a professional geologist with over 25 years of experience in Canada and internationally, and has a successful background in uranium exploration and project generation within the Athabasca Basin. Since 1998, he has been the president of Dahrouge Geological Consulting Ltd., a geological services company that provides consulting services to a broad range of public and private exploration and mining companies. He is a professional geologist (Alberta) and holds Bachelor of Science degrees in geology and computing science, from the University of Alberta.

Mr. Dahrouge served until September 2007 as President and COO of Fission Energy Corp., and played a key role in the acquisition of several of Fission’s key exploration properties, including Waterbury Lake, Patterson Lake, and Patterson Lake South (“PLS”). Two significant uranium occurrences were eventually discovered at those projects, including the J-Zone at Waterbury Lake and the Triple R uranium deposit at PLS.

Dr. Howard Haugom, BA, MA, Ph.D. — Director

Dr. Howard Haugom is co-owner of Quilts Etc., a national retail chain and a partner at Burkehill Uranium Corp, a Vancouver-based private equity firm. He has taught extensively at Simon Fraser University, worked for both the private and public sectors as an economist, and has been a consultant to the gold resource sector. Mr. Haugom received Economic degrees specializing in international trade and finance and Resource Economics from the University of Victoria in 1984 and a PhD in 1991 from Simon Fraser University.

David Miller, B.S., Reg Prof Geo WY — Director

David Miller is a businessman, professional economic geologist and an elected member of the Wyoming Legislature. He served as the Chief Executive Officer of Strathmore Minerals Corp. prior to its merger with Energy Fuels in 2013. His primary professional focus has been on mineral exploration, development and mining. His career has spanned over 40 years with a chain of companies that started with Utah International in the US, which evolved into Orano Group, the French nuclear power conglomerate. In addition, he has consulted for the International Atomic Energy Commission in Austria and China.

He is an eight-term member of the Wyoming Legislature and currently serves as Majority Floor Leader of the Wyoming House of Representatives. He graduated from the University of Missouri with a degree in Geology. He is a Registered Professional Geologist in Wyoming, a Registered Member of the Society for Mining, Metallurgy & Exploration and is a Fellow in the Society of Economic Geologists. His professional career has taken him worldwide, working with companies in Japan and South Korea, evaluating projects from Laos to Mongolia, Bolivia to Alaska, and in Canada. His expertise in commodities includes fissionable materials, precious and base metals, fossil fuels and lithium.

Jean-Jacques Gautrot — Director

Jean-Jacques Gautrot is a former Chairman of the World Nuclear Association and serves as an Ambassador of the World Nuclear Association to promote the nuclear industry worldwide. He began his career in TECHNIP, an engineering company in 1968. In 1979, he joined SAINT-GOBAIN Group, as Chief Executive Director of a mechanical company acting in the petroleum and nuclear industries. From 1984 to 1989, he acted as Site Director for SGN La Hague supervising the construction and commissioning of uranium reprocessing facilities. He served as Chairman and Chief Executive of Delattre Levivier, a specialized subsidiary of LYONNAISE DES EAUX Group dedicated to maintenance services for industrial facilities from 1989 to 1996.

He joined COGEMA (now Orano Group) in 1997 and in April 1998 was appointed Senior Director of the Business and Programmes Division, Nuclear Fuels and Recycling Branch. His main assignments included development related to nuclear back-end fuel cycle services. In June 2000, he was appointed Vice-President for the Commercial and International Development division of COGEMA. In January 2002, he was in charge of the Enrichment Sector as Vice-President and Chairman of the Executive Board of EURODIF, and was a member of the Executive Committee of COGEMA.

Mr. Gautrot acted as Senior Vice President of AREVA (now Orano) in charge of Marketing and International Affairs from January 2003 to September 2008, and later served as Chairman and CEO for AREVA United Kingdom from 2008 to 2011. He was Senior Advisor to the CEO of AREVA from 2008 to 2016.

Since 2014, he has acted as President of JJ GAUTROT Consulting S.A.

Patrick Groening CPA, CA — CFO

Patrick Groening’s previous roles with public companies include serving as CFO for both Strathmore Minerals Corp. and Fission Energy Corp. for more than nine years combined. He filled the same role for Jalna Minerals Ltd., Sernova Corp. and Papuan Precious Metals Corp and dual roles as CFO and Corporate Secretary for Wolf Capital Corp. and Pacific Asia China Energy Inc.

Christina Boddy — Corporate Secretary

Christina Boddy is a member of the Canadian Society of Corporate Secretaries and has acted as Corporate Secretary for a number of public companies in recent years, including Levon Resources Ltd., Nevada Sunrise Gold Corporation, Aton Resources Inc. and Resinco Capital Partners Inc. She acts as a consultant to public and private companies through Rhodanthe Corporate Services, a B.C.-based private company.

Roger Leschuk, CIM, FCSI — Corporate Communications Manager

Roger Leschuk has the designation of Chartered Investment Manager and has more than 20 years’ experience in the Financial Services and Investment Industry. He has successfully managed client accounts on a full range of financial services which included stocks, mutual funds, tax sheltered investments, lines of credit and mortgages for over 15 years. Leschuk is also a member of the Fellow of the Canadian Securities Institute.

Charles Roy, P.Eng., P.Geo. — Chairman of the Technical Committee

Charles Roy brings a rare depth of experience and success in uranium exploration from a career largely associated with Canada’s leading uranium mining company, Cameco Corporation. He earned a B.Sc. in geology from Acadia University Nova Scotia in 1972. Between 1972 and 1979, Mr. Roy was employed by the Mining Engineering and Geological Consulting firm of David S. Robertson and Associates. His work included fluorspar exploration in Newfoundland, uranium exploration in northern Michigan and a uranium and coal evaluation study for the Kingdom of Lesotho. Mr. Roy joined the Saskatchewan Mining Development Corporation (now Cameco Corporation) in 1979 as a Project Geologist in Uranium City, thus beginning a career with Cameco that spanned 33 years. In 1988, he transferred to Cameco Gold and was involved in establishing and managing an exploration office in Reno, Nevada from 1991 to 1994. Mr. Roy returned to uranium exploration in 1994 and over the next 18 years managed and supervised both greenfield and brownfield uranium exploration programs in the Athabasca Basin. In his last two years spent with Cameco, he was Director of Exploration Agreements and worked closely with Corporate Development and Legal Departments to negotiate new exploration opportunities for Cameco and help to consolidate and streamline the worldwide exploration portfolio.

Mr. Roy has evaluated uranium opportunities worldwide but his expertise and knowledge is most specifically focused on the unconformity uranium model and exploration methods in the Athabasca Basin. During his time at Cameco, he oversaw district exploration budgets of up to $35 million, and was involved with exploration teams responsible for the discovery and delineation of seven significant uranium deposits, including the Millennium deposit most recently.

Ken Wasyliuk, BSc —Technical Committee Advisor

Ken Wasyliuk has worked in mineral exploration for over 30 years with a focus on geochemistry and clay mineralogy in uranium exploration for the past two decades. He graduated from the University of Saskatchewan in 1987 with a B.Sc. (honors) in geology. From 1988 to 2004, he was employed by Cameco Corporation as a geoscientist in gold and uranium exploration.

During his career, Mr. Wasyliuk became an expert on geochemical and clay alteration patterns associated with uranium deposits in the Athabasca Basin, and assisted in the development of proprietary analytical programs in the field of infrared spectroscopy. In 2003, he completed his Master of Science degree on clay mineralogy in the Athabasca Basin. He later served as chief geochemist at JNR Resources Inc. until its acquisition by Denison Mines Corp. in January, 2013. Mr. Wasyliuk operates his own geological consulting company and has participated in exploration on many of the premier uranium deposits found in the Athabasca Basin. At present, he is the uranium site research associate at the University of Saskatchewan for the Canadian Mining Innovation Council Footprints research project.

Steve Khan, B.Sc., MBA, CFA – Strategic Advisor

Steve Khan has worked in senior management positions in all aspects of the Canadian investment industry, including retail, institutional sales, corporate finance, capital markets and investment banking. In 2003, he started his own consulting firm that focuses on corporate development and capital fund raising for early-stage private and public companies. In recent years, Mr. Khan has successfully completed numerous joint ventures, including corporate and government partnered ventures in Canada, the US, Japan, China and Korea. He is a graduate of the University of British Columbia with a B.Sc. in 1978 and a MBA in 1983. He also holds a CFA designation and is a member of the CFA Institute.


 

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