Energy Fuels (TSX:EFR,NYSE:UUUU) has been the largest producer of uranium in the United States and an emerging producer of rare earth elements (REEs). The company is also a major producer of vanadium when market conditions warrant. The company’s portfolio of assets positions it to contribute meaningfully to some of the most important challenges faced by the world today - climate change and energy security. Uranium remains the core business for Energy Fuels; however, the company is rapidly expanding its REE capacity, as well.
Energy Fuels is the only uranium producer with both conventional production and in-situ recovery (ISR) in the US. Its 100-percent-owned White Mesa Mill is the only conventional uranium mill in the country with a licensed capacity of over 8 million pounds (Mlbs) of U3O8 per year. The company also owns the Nichols Ranch uranium recovery facility in Wyoming, which is a fully permitted uranium ISR facility with a licensed capacity of 2 Mlbs of U3O8 per year. The Nichols Ranch project is currently being maintained on standby.
Favorable uranium market conditions prompted Energy Fuels to ramp up uranium production at three permitted and developed uranium mines in Arizona and Utah. Once production is fully ramped up at Pinyon Plain, La Sal and Pandora, the company expects to produce uranium at a run rate of 1.1 to 1.4 million pounds per year. Ore mined from the three sites in 2024 will be stockpiled at the White Mesa Mill in Utah for processing in late-2024 or 2025.
The company is also preparing the Whirlwind and Nichols Ranch mines to commence uranium production within one year, potentially increasing uranium production to over two million pounds of U3O8 annually starting in 2025.
In addition to its core uranium business, Energy Fuels is building out its rare earth element (REE) production and processing at the White Mesa Mill. The company recently completed construction of phase 1 rare earth oxide production with the capacity to produce 800 to 1,000 metric tons (MT) of neodymium-praseodymium (NdPr) oxide per year. The company is designing phase 2 and 3, which will increase NdPr oxide production to 4,000 to 6,000 MT per year, while also adding commercial scale “heavy” rare earth production, including terbium (Tb) and dysprosium (Dy).
In December 2023, Energy Fuels and Astron Corporation executed a non-binding MOU to jointly develop the Donald Mineral sands project, a large heavy mineral sand deposit that has the potential to supply Energy Fuels with approximately 7,000 tonnes of rare earth-bearing monazite sand per year starting in 2026, ramping up to 14,000 tonnes per year soon after.
Further to becoming a global leader in critical minerals production, in April 2023, Energy Fuels executed a definitive scheme implementation deed with Base Resources (ASX:BSE,AIM:BSE) to acquire 100 percent of the issued shares of Base Resources. The acquisition includes Base Resources' 100 percent-owned advanced, world-class Toliara heavy mineral sands project in Madagascar.
Vanadium and medical isotopes present another long-term growth opportunity for Energy Fuels. White Mesa Mill is a significant US producer of vanadium (V2O5), and the only primary producer in the US It currently holds 0.9 Mlbs in inventory and aims to selectively produce and sell into the market based on the strength of price. The company also continues to evaluate the potential to recover medical isotopes from its existing uranium and vanadium process streams. These isotopes are required for emerging cancer therapies.
Sustainability is a key part of the company’s focus. It is committed to recycling naturally bearing uranium and vanadium materials. White Mesa Mill has a separate circuit for processing alternate feed materials, thereby promoting sustainable sourcing, reducing carbon emissions and saving resources.
Further, the company benefits from a management team with a record of building and operating both conventional and ISR uranium mines globally.
Get access to more exclusive Uranium Investing Stock profiles here
America’s Leading Producer of Critical Materials for the Clean Energy Transition
Virtual Investor Conferences, the leading proprietary investor conference series, today announced the presentations from Precious Metals & Critical Minerals Hybrid Virtual Investor Conference held May 22 nd are now available for online viewing.
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download
investor materials from the company's resource section.
May 22 nd
| Presentation | Ticker(s) |
| Keynote Presentation: "What's next for precious metals?" -Jeff Christian, Managing Partner of CPM Group | |
| Viva Gold Corp. | (OTCQB: VAUCF | TSXV: VAU) |
| StrikePoint Gold, Inc. | (OTCQB: STKXF | TSXV: SKP) |
| Honey Badger Silver Inc. | (OTCQB: HBEIF | TSXV: TUF) |
| Relevant Gold Corp. | (OTCQB: RGCCF | TSXV: RGC) |
| Keynote Presentation: "Surveying the Critical Metals Landscape," –Jack Lifton, Senior Advisor, Energy Fuels, Inc. | |
| Azimut Exploration Inc. | (OTCQX: AZMTF | TSXV: AZM) |
| Energy Fuels Inc. | (NYSE American: UUUU | TSX: EFR) |
| Lion Copper & Gold Corp. | (OTCQB: LCGMF | CSE: LEO) |
| Alaska Silver Corp. | (Pink: WAMFF |TSXV: WAM) |
| Cygnus Metals Ltd. | (OTCQB: CYGGF |TSXV: CYG |ASX: CY5) |
| Power Metallic Mines, Inc. | (OTCQB: PNPNF |TSXV: PNPN) |
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .
About Virtual Investor Conferences ®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
News Provided by GlobeNewswire via QuoteMedia
Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the Precious Metals & Critical Minerals Hybrid Virtual Investor Conference. Individual investors, institutional investors, advisors, and analysts are invited to attend.
This in-person and virtual event will showcase live company presentations and interactive discussions featuring Precious Metals and Critical Minerals including Gold, Silver, Antimony, Copper, Lithium, Nickel, PGM, Rare Earth Elements, Uranium and Vanadium. Company executives and industry experts will present live from the OTC Markets Group headquarters at 300 Vesey Street in New York City. All presentations will be broadcast to the Virtual Investor Conferences community. For those who are interested in attending, there are two ways to register:
Register for IN-PERSON attendance: register here
Register for ONLINE attendance: register here
For individuals joining online, it is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to attend and schedule 1x1 meetings with management.
"OTC Markets is proud to host the Precious Metals & Critical Minerals Hybrid Investor Conference , presented in collaboration with Murdock Capital, TAA Advisory LLC, The Prospector, and Resource World," said John Viglotti , SVP of Corporate Services, Investor Access at OTC Markets Group. "We are especially honored to welcome our distinguished keynote speakers, Jeff Christian, Managing Partner at CPM Group, and Jack Lifton, Senior Advisor at Energy Fuels, Inc., whose insights will be invaluable to this premier industry event."
May 22 nd
| Eastern Time (ET) | Presentation | Ticker(s) |
| 9:00 AM | Keynote Presentation: "What's next for precious metals?" -Jeff Christian, Managing Partner of CPM Group | |
| 9:30 AM | Viva Gold Corp. | (OTCQB: VAUCF | TSXV: VAU) |
| 10:00 AM | StrikePoint Gold, Inc. | (OTCQB: STKXF | TSXV: SKP) |
| 10:45 AM | Honey Badger Silver Inc. | (OTCQB: HBEIF | TSXV: TUF) |
| 11:15 AM | Relevant Gold Corp. | (OTCQB: RGCCF | TSXV: RGC) |
| 12:30 PM | Keynote Presentation: "Surveying the Critical Minerals Landscape," –Jack Lifton, Senior Advisor, Energy Fuels, Inc. | |
| 1:00 PM | Azimut Exploration Inc. | (OTCQX: AZMTF | TSXV: AZM) |
| 1:30 PM | Energy Fuels Inc. | (NYSE American: UUUU | TSX: EFR) |
| 2:00 PM | Lion & Copper Gold Corp. | (OTCQB: LCGMF | CSE: LEO) |
| 2:45 PM | Alaska Silver Corp. | (Pink: WAMFF |TSXV: WAM) |
| 3:15 PM | Cygnus Metals Ltd. | (OTCQB: CYGGF |TSXV: CYG) |
| 3:45 PM | Power Metallic Mines Inc. | (OTCQB: PNPNF |TSXV: PNPN) |
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .
About Virtual Investor Conferences ®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact :
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
News Provided by GlobeNewswire via QuoteMedia
Western Uranium & Vanadium Corp. (CSE: WUC) (OTCQX: WSTRF) (" Western " or the " Company ") is pleased to announce that the Company has entered into an Ore Purchase Agreement ("Agreement") with Energy Fuels Inc. (NYSE American: UUUU) (TSX:EFR).
Western plans to commence hauling around the beginning of May, making deliveries to Energy Fuels' White Mesa Mill, the only operational conventional uranium/vanadium mill in the United States. Deliveries will be sourced from previously mined production that has been stockpiled at the Company's flagship Sunday Mine Complex. The Agreement is for a one year period, and provisions for the delivery of up to 25,000 short tons of uranium bearing ore. The purchase price will be calculated based upon the uranium grade of each closed lot according to the agreed pricing schedule.
George Glasier, Western's CEO stated: "This Agreement strengthens Western's strategic position and accelerates our generation of revenues, while rewarding shareholder investments that have yielded our current stockpiles. The collaboration with Energy Fuels provides synergies and leverage for both companies, while the North American nuclear fuel supply chain benefits from expedited near-term production of uranium resources."
Warrant Repricing
Further to the news release issued by the Company on November 29, 2024, Western announces that a total of 2,868,541 previously issued common share purchase warrants (the "Warrants") have been repriced and are now exercisable at CAD$2.00 per share. The Company received consents from all holders of Warrants and filed an amended Form 13 dated February 27, 2025 under its profile on the Canadian Securities Exchange ("CSE") website. As previously announced, the term of the Warrants was extended with all Warrants now expiring on January 20, 2026. All other terms of the Warrants remain unchanged. In accordance with the CSE rules, no compensation warrant was repriced or extended. Western will not issue replacement Warrant certificates. The originally issued Warrant certificates will be utilized for any such exercises. Please refer to Western's news release issued on November 29, 2024 for additional details.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is ramping-up high-grade uranium and vanadium production at its Sunday Mine Complex. In addition to the flagship property located in the prolific Uravan Mineral Belt, the production pipeline also includes conventional projects in Colorado and Utah. The Mustang Mineral Processing Site is being licensed and developed for mined material recovery and will incorporate kinetic separation to optimize economics.
Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"). Statements of that nature include statements relating to, or that are dependent upon: the Company's expectations, estimates and projections regarding the Offering and exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company's business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company's ability to control or predict. Please refer to the Company's most recent Management's Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedarplus.com , for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company's forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT :
Grant Glasier
Vice President Marketing and Project Development
303-808-3306
grantg@western-uranium.com
George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com
News Provided by GlobeNewswire via QuoteMedia
Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels " or the " Company "), a leading U.S. producer of uranium, rare earth elements (" REE "), and critical minerals, is pleased to announce that it has entered into a Memorandum of Understanding (the " MOU ") with the Government of Madagascar (the " Government ") setting forth certain key terms applicable to the Company's Toliara titanium, zirconium, and REE project (the " Toliara Project " or " Project "), located in southwestern Madagascar .
As previously announced , on November 28, 2024 , the Madagascar Council of Ministers, as Chaired by the President of Madagascar , lifted the suspension on the Toliara Project, which was originally imposed in November 2019 . The lifting of the Suspension allows the Company to continue development of the Project, re-establish community programs, and advance activities necessary to achieve a positive final investment decision (" FID ").
The MOU announced today is the culmination of extensive negotiations over several years with the Malagasy Government on fiscal and other terms applicable to the Toliara Project and a major step forward in advancing the Project. While the Company is progressing towards an FID, which is expected to be made in approximately 14 months, the Company will continue working with the Government of Madagascar to formalize the terms and conditions set out in the MOU through the implementation of a " Stability Mechanism " consisting of one or a combination of the following: (a) submittal of an Investment Agreement to the Madagascar Parliament for approval as law and certification of the Toliara Project (" Project Certification ") under existing law establishing a special regime for large scale investments in the Malagasy mining sector (the " LGIM "); (b) promulgation of amendments and revisions to the existing LGIM (the " LGIM Amendment ") in a form that provides for the necessary certainty of financial and legal terms, and reasonable financial, operational and legal requirements, for large-scale projects and have Project Certification under the amended LGIM, together with an Investment Agreement (if reasonably required) submitted to Parliament for approval as law; and/or (c) another agreed upon mechanism that achieves the necessary certainty of financial and legal terms, and reasonable financial, operational and legal requirements, applying to large-scale mining projects.
Mark S. Chalmers , President and CEO of Energy Fuels commented: "As I've said before, I believe the Toliara Project is a 'generational' critical mineral project that has the strong potential to operate well beyond many of our lifetimes. Therefore, it is vital to Energy Fuels, and to our Base Resources subsidiaries, that the Republic of Madagascar and the communities in the vicinity of the Project enjoy significant benefits that go beyond jobs, economic development, and sustainable operations that respect human rights, local culture, and the environment. To achieve this vision, the MOU signed today creates the framework for a long-term mutually beneficial partnership between a U.S. critical mineral company and the people of Madagascar . We look forward to continuing to work with the Government of Madagascar to formalize the terms of the MOU and grow our relationship with what we believe will be the largest U.S. investment in the country's history."
Key Terms and Conditions of the MOU
Under the MOU, the Company has agreed to pay a five percent (5%) royalty (and no other) on mining products and deliver US$80 million after Project Certification in development, community, and social project funding, including a total of $30 million within 30 days after Project Certification, another $10 million within 30 days after achieving a positive FID and an additional $40 million by the fourth year of operations. In addition, the Company has agreed to spend at least $1 million prior to FID in the Atsimo Andrefana Region on community and social investments, and $4 million annually thereafter, indexed at 2% per annum, from commencement of construction after a positive FID. The Company has also committed to developing the Toliara Project in an environmentally, socially and fiscally responsible manner, and to observe the specific protections set out in the MOU.
The payments described above are not expected to have a material effect on the economics of this potentially multi-billion project, which (along with the appropriate disclaimers related to technical disclosure) are described in the Company's April 2024 press release . The Company is in the process of updating the September 2021 definitive feasibility study and December 2023 prefeasibility study on the Toliara Project, along with the White Mesa Mill's 2024 prefeasibility study on rare earth oxide production, to reflect current economics.
The Government has agreed in the MOU, among other things, to:
In addition, under the MOU, the Company's agreement to pay a 5% royalty on revenues and its commitments to pay the US$80 million in development, community and social funding are conditional on:
The MOU and its terms are expressly subject to the foregoing conditions set out in the MOU. It should be noted that there can be no assurance that the foregoing conditions will be satisfied or as to the timing of satisfaction of those conditions, or the timing for approval of the addition of monazite to the mining permit. If such conditions are not satisfied, this could delay any FID in relation to the Toliara Project or prevent or otherwise have a significant effect on the development of the Toliara Project or ability to recover Monazite from the Toliara Project.
ABOUT Energy Fuels
Energy Fuels is a leading US-based critical minerals company, focused on uranium, REEs, heavy mineral sands ("HMS"), vanadium and medical isotopes. The Company has been the leading U.S. producer of natural uranium concentrate for the past several years, which is sold to nuclear utilities that process it further for the production of carbon-free nuclear energy and owns and operates several conventional and in situ recovery uranium projects in the western United States. The Company also owns the White Mesa Mill in Utah, which is the only fully licensed and operating conventional uranium processing facility in the United States. At the Mill, the Company also produces advanced REE products, vanadium oxide (when market conditions warrant), and is preparing to begin pilot-scale recovery of certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. The Company also owns the operating Kwale HMS project in Kenya which is nearing the end of its life and is developing three (3) additional HMS projects, including the Toliara Project in Madagascar, the Bahia Project in Brazil, and the Donald Project in Australia in which the Company has the right to earn up to a 49% interest in a joint venture with Astron Corporation Limited. The Company is based in Lakewood, Colorado, near Denver, with its HMS operations managed from Perth, Australia. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." For more information on all we do, please visit http://www.energyfuels.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: any expectation that the Company will maintain its position as a leading U.S.-based uranium and critical minerals company or as the leading producer of uranium in the U.S.; any expectation that the Company will re-commence development activities on the ground, re-establish the Company's community programs or progress the other activities necessary to achieve a positive FID for the Toliara Project; any expectation that the Toliara Project is a 'generational' critical minerals project or that it has the strong potential to operate well beyond many of our lifetimes or at all; any expectation that the Company will continue working with the Government of Madagascar to formalize fiscal and other terms applicable to the Project through an investment agreement, amendments to existing laws or other mechanisms as appropriate; any expectation that rare-earth element production will be added to the existing mining permit; any expectation that the financial and legal stability of the Toliara Project will be maintained; any expectation that the Toliara Project will attain Project Certification or that the other conditions to the Company's funding obligations will be satisfied; any expectation that a positive FID will be made for the Toliara Project and the timing of any such positive FID; any expectation that the Toliara Project will be developed; any expectation that the MOU will create the framework for a long-term mutually beneficial partnership between a U.S. critical mineral company and the people of Madagascar ; and any expectation that the Company will be successful in recovering certain medical isotopes from existing uranium process streams needed for emerging cancer treatments. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. 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 be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; engineering, construction, processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; competition from other producers; public opinion; government and political actions; the failure of the Company to provide or obtain the necessary financing required to develop the Project; market factors, including future demand for REEs; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml , on SEDAR at www.sedar.com , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.
View original content to download multimedia: https://www.prnewswire.com/news-releases/energy-fuels-and-madagascar-government-execute-memorandum-of-understanding-to-further-advance-toliara-critical-mineral-project-in-madagascar-302323924.html
SOURCE Energy Fuels Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2024/05/c6155.html
News Provided by Canada Newswire via QuoteMedia
In the current strong market dynamic for uranium, Skyharbour Resources is a compelling investment opportunity driven by its large portfolio of exploration assets in Canada’s most prolific uranium district in the Athabasca Basin.
Nuclear energy is a key driver in the transition to net zero, offering clean, reliable, and secure power to meet global electricity demand, which is expected to grow by 50 percent in 2040.
Skyharbour Resources (TSXV:SYH,OTCQX :SYHBF,FWB:SC1P) is strategically positioned to support this growing demand through its high-grade uranium projects. As a leading uranium exploration company, Skyharbour partners with industry stakeholders to advance projects that contribute to the secure and sustainable energy future nuclear power promises.
Skyharbour has launched its winter drill program at the Russell Lake uranium project, initiating its planned 16,000–18,000 metre campaign across 35–45 holes at its co-flagship Russell Lake and Moore projects. A total of 11,000 to 12,000 metres will be drilled at Russell Lake, along with an additional 5,000 to 6,000 metres at Moore Lake in 2025. This initial phase at Russell will focus on exploring the project’s significant upside potential, leveraging its widespread uranium mineralization and favorable geology for large, high-grade Athabasca Basin uranium deposits.
This project covers an area of 35,705 hectares, located in the eastern Athabasca Basin near existing infrastructure with known high-grade uranium mineralization and significant discovery potential. Skyharbour acquired the project from Denison Mines (TSX:DML), a large strategic shareholder of the company. The project can be easily accessed year-round via winter and ice roads, streamlining logistics and reducing expenses. During the summer months, a significant portion of the property remains accessible as well. The property has been the subject of extensive historic exploration with over $50 million in expenditures, and over 140,000 meters of diamond drilling completed historically.
Moore hosts high-grade uranium mineralization at the Maverick zones. Over the past few years, Skyharbour Resources has conducted diamond drilling programs, resulting in the intersection of high-grade uranium mineralization in numerous drill holes along the 4.7-kilometer-long Maverick structural corridor. Some of the high-grade intercepts include:
Merely 50 percent of the total 4.7-kilometer promising Maverick corridor has undergone systematic drilling, indicating significant discovery potential both along its length and within the underlying basement rocks at depth. Skyharbour completed a 2024 winter drill program which consisted of 2,800m of drilling at the project which focused on infill/expansion drilling at the Main Maverick Zone. Assay results from the program intersected 5 metres of 4.61 percent U3O8 from a relatively shallow downhole depth of 265.5 metres to 270.5 metres including 10.19 percent U3O8 over 1 metre at the Main Maverick Zone from hole ML24-08. The Company recently received the remaining assay results from its late 2024 diamond drilling program, which totaled 2,759 metres in nine holes. Of the nine holes, four holes (ML24-10 to -12 and ML24-18) focused on the Main Maverick Zone and five holes (ML24-13 to -17) on the Maverick East Zone. The primary objective of the summer program was to extend and expand the boundaries of the Main Maverick and Maverick East Zones with all but one hole successfully intersecting uranium mineralization. Drill hole ML24-15 which intersected 6.4 m of 1.50% U3O8 successfully expands the Maverick East zone over 40 metres along strike to the northeast with more drilling warranted in the area.
Skyharbour is planning for an additional, fully-funded 4,500 – 5,000 metres of drilling at the Main Maverick and Maverick East Zones to further expand, characterize and define the extents of the mineralized zones.
Apart from the Maverick Zone, diamond drilling in various other target areas has encountered multiple conductors linked with notable structural disturbances, robust alteration, and anomalous concentrations of uranium and associated pathfinder elements.
The Russell Lake project is a large, advanced-stage uranium exploration property spanning 73,314 hectares, strategically positioned between Cameco’s Key Lake and McArthur River projects. Skyharbour has completed its earn-in requirements for an option agreement with Rio Tinto and has now acquired 57.7 percent ownership interest in the Russell Lake project.
The project is adjacent to Denison’s Wheeler River project and Skyharbour’s Moore uranium project. It is supported by excellent infrastructure in terms of highway access as well as high-voltage power lines. The project has undergone a significant amount of historical exploration which includes over 95,000 meters of drilling in over 220 drill holes. The exploration identified numerous prospective target areas and several high-grade uranium showings as well as drill hole intercepts.
The property hosts several noteworthy exploration targets, including the Grayling Zone, the M-Zone Extension target, the Little Man Lake target, the Christie Lake target, and the Fox Lake Trail target. Skyharbour completed a 19-hole drilling program totaling 9,595 meters in three phases in 2023. The initial drilling phase encompassed 3,662 meters across eight completed holes at the Grayling Zone, followed by a second phase involving four holes totaling 2,730 meters drilled at the Fox Lake Trail Zone. The third drilling phase involved 3,203 meters across seven holes targeting additional areas within the Grayling Zone.
Drilling at Russell in 2024 was completed in two separate phases with a total of 3,094 metres drilled in six holes. Phase One of drilling resulted in the best intercept of uranium mineralization historically on the property from hole RSL24-02, which returned a 2.5 metre wide intercept of 0.721 percent U3O8 at a relatively shallow depth of 338.1 metres, including 2.99 percent U3O8 over 0.5 metres at 339.6 metres just above the unconformity in the sandstone. The second phase of drilling was recently completed which totalled approximately 4,500 metres, with assays pending.
Skyharbour has recently commenced its 2025 drilling program at the Russell Lake project with a first phase consisting of approximately 5,000 metres to follow up on notable recent exploration success and to test new targets developed by the geological team. The focus for this phase of drilling will be on the Fork and Sphinx targets within the broader Grayling target area, as well as the M-Zone Extension target and the Fox Lake Trail target. This initial winter program will consist of 10 to 12 drill holes, with most of the targets being road accessible and near the exploration camp, bringing the drill costs down.
In addition to being a high-grade uranium exploration and early stage development company, Skyharbour utilizes a prospect generator strategy by bringing in partner companies to acquire interests in some of our secondary projects by funding exploration at these projects and making cash and share payments to Skyharbour over a period of time. This model allows the Company to focus efforts and capital at our core projects which include the Moore Lake and Russell Lake Projects, while having our JV and option partner companies fund and advance our secondary projects.
Skyharbour partner companies include Orano Canada, Azincourt Energy, Thunderbird Resources, Nexus Uranium Corp. (previously Basin Uranium), North Shore Uranium and Terra Clean Energy, advancing the Preston, East Preston, Hook Lake, Mann Lake, Falcon and South Falcon East Projects, respectively. More recently, three new earn-in option agreements have been signed with UraEx Resources at the South Dufferin and Bolt Projects, Hatchet Uranium at the Highway Project, and Mustang Energy at the 914W Project, bringing the total partner companies to nine. Skyharbour now has option agreements that total over CAD $36 million in exploration expenditures, over $20 million in stock being issued and $14 million in cash payments coming into Skyharbour, assuming that these partner companies complete their full earn-ins at their respective projects.
Furthermore, Skyharbour's project portfolio is bolstered by several other 100% owned projects scattered throughout the Athabasca Basin that they can look to option/JV or sell to grow their robust model.
With a background in entrepreneurship, Jordan Trimble has held various positions in the resource industry, focusing on management, corporate finance, strategy, shareholder communications, business development, and capital raising with multiple companies. Prior to his role at Skyharbour, he was the corporate development manager at Bayfield Ventures, a gold company with projects in Ontario. Bayfield Ventures was subsequently acquired by New Gold (TSX:NGD) in 2014. Throughout his career, Trimble has established and assisted in the management of numerous public and private enterprises. He has played a pivotal role in securing significant capital for mining companies, leveraging his extensive network of institutional and retail investors.
Jim Pettit currently serves as a director on the boards of various public resource companies, drawing from over 30 years of experience in the industry. His expertise lies in finance, corporate governance, management and compliance, particularly in the early-stage development of both private and public enterprises. Over the past three decades, he has primarily focused on the resource sector. Previously, he served as chairman and CEO of Bayfield Ventures, which was acquired by New Gold in 2014.
David Cates currently serves as the president and CEO of Denison Mines (TSX:DML). Before assuming the role of president and CEO, Cates was the vice-president of finance, tax, and chief financial officer at Denison. In his capacity as CFO, he played a pivotal role in the company's mergers and acquisitions activities, including spearheading the acquisition of Rockgate Capital and International Enexco. Cates joined Denison in 2008, initially serving as director of taxation before he was appointed CFO. Prior to joining Denison, he held positions at Kinross Gold and PwC with a focus on the resource industry.
Joseph Gallucci was previously a senior manager at a leading Canadian accounting firm. He possesses more than two decades of expertise in investment banking and equity research, specializing in mining, base metals, precious metals, and bulk commodities worldwide. He serves as a senior capital markets executive and corporate director. Presently, Gallucci is the managing director and head of investment banking at Laurentian Bank Securities, where he assumes responsibility for overseeing the entire investment banking practice.
Brady Rak is a seasoned investment professional who has focussed on the Canadian capital markets over his 13-year career at several independent broker dealers including Ventum Financial, Salman Partners and Union Securities. As a registered investment advisor in the private client division of Ventum Financial, Brady has been involved in advising high-net-worth and corporate clients, structuring transactions, raising capital and navigating global market sentiment. Brady graduated from Northwood University with a BBA in Management and holds his Options license.
A recognized geoscientist with decades of experience in uranium exploration and development, Serdar Donmez has played an active role in numerous grassroots and advanced uranium exploration projects in northern Saskatchewan and Zambia. Donmez has an engineering degree in geology and is a registered professional geoscientist with the Association of Professional Engineers and Geoscientists of Saskatchewan. During his 17-year tenure at Denison Mines, Donmez was pivotal in advancing numerous uranium exploration and development projects. He was involved in various capacities with the Phoenix and Gryphon uranium deposits on Denison's Wheeler River project, from initial discovery to the completion of the feasibility study in 2023. As resource geology manager, he was integral to the development of mineral resource estimates and NI 43-101 technical reports for several advanced exploration projects in the Athabasca Basin. Additionally, he was part of a team exploring the application of in-situ recovery mining techniques for high-grade uranium deposits in the Athabasca Basin.
Dave Billard is a geologist with over 35 years of experience in exploration and development, focusing on uranium, gold and base metals in western Canada and the western US. He served as chief operating officer, vice-president of exploration, and director for JNR Resources before its acquisition by Denison Mines. He played a crucial role in the discovery of JNR’s Maverick and Fraser Lakes B zones. Earlier in his career, he contributed to the discovery and development of several significant gold deposits in northern Saskatchewan. Prior to joining JNR, Billard worked as a geological consultant specializing in uranium exploration in the Athabasca Basin. He also spent over 12 years with Cameco Corporation.
Christine McKechnie is a geologist with a specialization in uranium deposits, particularly those hosted in the basement and associated with unconformities in the Athabasca Basin and its vicinity. Throughout her career, she has worked with various companies such as Claude Resources, JNR Resources, CanAlaska Uranium and Cameco, engaging in gold and uranium exploration activities. She completed her B.Sc. (High Honors) in 2008 from the University of Saskatchewan and completed a M.Sc. thesis on the Fraser Lakes Zone B deposit at the Falcon Point project. She also received the 2015 CIM Barlow Medal for Best Geological Paper.
Purpose-built for today’s energy transition, xU3O8 sits at the intersection of technology, finance, and nuclear energy, offering a simplified and transparent alternative to legacy uranium investments amid surging global demand. The xU3O8 token, now accessible on leading global exchanges, is a groundbreaking digital asset that provides direct, efficient exposure to the uranium market.
Uranium.io is a next-generation platform revolutionizing how investors access and trade physical uranium (U3O8). By leveraging blockchain technology, it enables individuals and institutions to directly own and trade uranium, bypassing many of the inefficiencies, opacity and high costs traditionally associated with uranium exposure. Each xU3O8 token represents real, physical uranium stored securely in a regulated depository operated by Cameco, with Archax, a UK-regulated digital asset firm, as the custodian for the physical uranium ensuring transparency and trust in asset backing.
The platform is designed to meet growing investor demand for exposure to uranium, a commodity that is a critical component of the global energy transition. As countries commit to reducing carbon emissions, nuclear energy is increasingly seen as a reliable and scalable source of low-carbon electricity. Governments across North America, Europe and Asia are ramping up their nuclear energy capacities, as part of their net-zero targets. This includes restarting idled reactors, constructing new reactors, and accelerating the development of small modular reactors.
Nuclear power is also emerging as a stable and scalable option for supporting artificial intelligence (AI) data centers, which require massive amounts of electricity to operate. Industry leaders, including Microsoft, have announced nuclear energy investments, and several technology firms have secured long-term agreements for nuclear power.
Like gold and silver before it, uranium is entering a phase of financialization — with physical holding trusts, ETFs, and now platforms like uranium.io offering direct physical uranium ownership via xU3O8, making it more accessible to a wider set of investors.
As traditional financial markets converge with digital innovation, tokenized assets are becoming a preferred vehicle for commodities investing. Uranium.io’s use of the Etherlink blockchain ensures secure, real-time trading with minimal friction — a distinct advantage in an increasingly digitized investment landscape.
Development of the uranium.io platform is led by the team at London-based Trilitech, a group of entrepreneurs and technologists driving blockchain innovations.
With its emphasis on direct fractional ownership and 24/7 worldwide accessibility, xU3O8 is uniquely positioned to serve as the gateway to physical uranium exposure for a global investor base. Alignment with broader energy and digital asset trends makes it a compelling vehicle for those seeking to capitalize on uranium’s strong fundamentals and the disruptive power of decentralized finance.
In July 2025, the company launched its xU3O8 token on KuCoin, MEXC, and Gate.io — ushering in a new era of uranium investment. This simultaneous, multi-platform listing marks a major milestone in the evolution of real-world asset (RWA) tokenization, delivering institutional-grade exposure to uranium markets to a combined audience of over 115 million global traders.
By debuting across multiple top-tier platforms, xU3O8 ensures broad accessibility and liquidity for investors:
Uranium.io is built on a secure, decentralized technology stack that integrates blockchain infrastructure, digital asset custody, and real-world commodity supply — delivering unprecedented access and transparency to the uranium market. The platform bridges traditional commodities trading with Web3 innovation, allowing users to seamlessly acquire, hold and trade physical uranium via xU3O8 tokens.
Uranium.io unveiled the world's first uranium spot pricing oracle, aimed at addressing the price opacity issues in the uranium market. Unlike oil, gold, base metals, and agricultural commodities, uranium pricing has traditionally relied on fragmented, privately negotiated over-the-counter deals, leaving market participants in the dark and creating inefficiencies and uncertainty that limit broad participation.
Uranium.io’s oracle transforms this landscape with:
At the heart of xU3O8’s digital asset engine is the Tezos blockchain, a highly secure, energy-efficient and self-amending Layer 1 protocol. Tezos is uniquely suited to power real-world asset tokenization due to its low transaction costs and energy efficiency; on-chain governance and smart contract flexibility; and enterprise-grade security and decentralization.
Tezos’ track record with real-world assets, including tokenized real estate and art, positions it as an ideal foundation for the secure, scalable digitization of uranium ownership.
To ensure that each xU3O8 token is backed with physical uranium, uranium.io is supported by Archax, a London-based, digital asset custodian and exchange regulated by the Financial Conduct Authority. Archax provides regulated asset custody, KYC/AML-compliant onboarding, and real-time asset reconciliation.
Archax brings institutional-grade governance and accountability to the storage and oversight of physical uranium, ensuring that investor holdings are not just theoretical but physically secured.
Access to physical uranium is facilitated by its partnership with Curzon Uranium, a specialized uranium trading and logistics firm. Curzon acts as the platform’s uranium provider, sourcing, purchasing and delivering uranium from trusted upstream suppliers to secure storage.
Curzon’s decades of experience in uranium procurement adds physical credibility and market depth to the xU3O8 ecosystem — making the platform more than just a digital asset project, but a fully integrated uranium trading platform.
The physical uranium ore concentrate (U3O8) is securely stored at a regulated storage facility, operated by Cameco, one of the three globally recognized uranium conversion and storage providers. For transparency, Proof of Reserves is always available on the website and is updated with monthly statements from Cameco.
Together, Tezos, Archax and Curzon Uranium form the digital, custodial and physical backbone of the uranium.io platform. This trio of technologies and partnerships ensures a secure, compliant and efficient path for investors to gain physical uranium exposure — fractionalized, tokenized and tradable 24/7 on a global scale.
