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Hertz Energy Inc. Announces Resignation Of Director
Vancouver, British Columbia The Newswire October 11, 2024 Hertz Energy Inc. (CSE: HZ; OTCQB: HZLIF; FSE: QE2) (the " Company ") announced today the resignation of independent director Bala Pratap Reddy Udumala from the Company's Board of Directors (the " Board ").
Bala Pratap Reddy Udumala joined the Company in August of 2019 and has been a valuable member of the Board of Director. "On behalf of the Board and management, we would like to thank Pratap for his valuable contribution as a director of the Company and throughout his subsequent tenure. We wish him the best with his future endeavours," expressed Kal Malhi, CEO of the Company.
The Board will begin a search for a new Independent Director and will notify the market when a replacement has been interviewed and selected.
About the Company
The Company is a British Columbia-based mineral exploration company primarily engaged in the acquisition and exploration of mineral properties. The Company's lithium exploration projects include the Lucky Mica Project, which is located along the Arizona Pegmatite Belt in the Maricopa County of Arizona, USA and the Patriota Lithium Project, located along the Eastern Brazilian Pegmatite Province, in Brazil and the district scale AC/DC Lithium Project and Snake Lithium Project, both located in James Bay, Quebec.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedar.com.
On Behalf Of the Board of Directors
Kal Malhi Chief Executive Officer and Director Email: kal@bullruncapital.ca |
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. " United States " and " U.S. Person " are as defined in Regulation S under the U.S. Securities Act.
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Copyright (c) 2024 TheNewswire - All rights reserved.
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Forum Energy Metals to Present at Red Cloud's Fall Mining Showcase and Top Shelf Partners Commodities Global Expo
Join Forum Energy Metals (TSXV: FMC) (OTCQB: FDCFF) at Red Cloud's Fall Mining Showcase being held at the Sheraton Centre Toronto Hotel in Toronto on Wednesday October 16th and Thursday October 17th. Forum President & CEO, Richard Mazur and Dr. Rebecca Hunter, Vice President of Exploration will be available both days of the conference for 1 X 1 meetings to update investors on Forum's uranium discovery in the Thelon Basin, Nunavut. Dr. Rebecca Hunter will also be presenting on Thursday October 17th at 10:20 am in the Dominion Ballroom North.
Qualified buy side parties can register at: https://redcloudfs.com/fallminingshowcase2024/
On October 20 -22, Forum President & CEO, Richard Mazur will also be presenting at Top Shelf Partners Commodities Global Expo being held at the Four Seasons Resort in Ft. Lauderdale, Florida. Mr. Mazur will be on the uranium panel and is available for 1 X 1 meetings.
Qualified buy side parties can register at: https://topshelf-partners.com/register/
Rick Mazur, President & CEO, stated, "This is going to be an exciting fall as we share the assays from our 2024 drill program at our Aberdeen Uranium Project in Nunavut, Canada with our investors. We completed 30 drill holes over five targets this summer, so there should be significant news flow over the next few months."
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Rick Mazur, P.Geo., President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226243
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Skyharbour's Partner North Shore Continues Drill Target Generation at Falcon Uranium Project
Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), is pleased to announce that its partner company, North Shore Uranium ("North Shore"), has provided an update update on its Falcon property ("Falcon") target generation efforts. Falcon is located at the eastern margin of the Athabasca Basin in northern Saskatchewan. In its September 17, 2024, news release, North Shore summarized work being done at its Falcon and West Bear properties, with Falcon being divided into three uranium exploration zones. This news release summarizes targeting efforts being undertaken in Zone 2 at Falcon. North Shore may acquire an initial 80% interest in Falcon by issuing common shares having an aggregate value of CAD $1,225,000, making aggregate cash payments of $525,000 to Skyharbour, and incurring an aggregate of $3,550,000 in exploration expenditures on the property over a three-year period.
Location Map of Falcon Project:
https://skyharbourltd.com/_resources/maps/Sky-SouthFalconOption.jpg?v=0.1
Falcon Target Generation:
Falcon is located approximately 30 kilometres east of the active Key Lake uranium mill and former mine. Between 1983 and 2002, two deposits at the Key Lake Mine produced a total of 209.9 million lbs. of U 3 O 8 at an average grade of over 2.0%. There is no guarantee that a uranium deposit similar to Key Lake will be discovered on the Falcon Property. The uranium discovery potential at Falcon is significant and includes shallow basement-hosted unconformity-style and pegmatite-hosted mineralization. As reported on May 16, 2024, North Shore discovered near-surface uranium mineralization in two drill holes at targets P03 and P08 in Zone 1.
Map Showing Falcon Exploration Targets and Priority Zones:
To date, North Shore has identified 36 uranium targets at Falcon with 15 of these being in Zone 2. The targets are associated with electromagnetic ("EM") conductor systems and have been selected based on the analysis of multiple datasets utilizing interpretation by Condor North Consulting LLC ("Condor"), Earthfield Technologies Inc., Skyharbour Resources Ltd., TerraLogic Exploration Inc. and North Shore. Unlike in Zone 1, where there had been no significant drilling prior to 2024, there have been several drill programs focused on parts of prominent EM conductor systems in Zone 2. In 1979, seven holes were drilled by Brinex Ltd., in 2028, 28 holes were drilled by JNR Resources, and in early 2024, North Shore drilled one hole at target P12. One focus of the evaluation of Zone 2 is to determine the priority of investigating areas with previous drilling utilizing results from the drill programs and new interpretation, versus new target areas that have seen no drilling. Examples of four target areas that are being considered for future work in Zone 2 are the South Walker Area, target FA020 (EWA showing), and targets FA011 and FA019.
Mr. Brooke Clements, President and CEO of North Shore stated: " We have a great pipeline of targets to choose from for our next drill program at Falcon. Zone 2 has attracted uranium explorers in the past, and we believe there is potential to make a significant uranium discovery using new data and interpretation."
Summary of Targets in Zone 2:
South Walker Area:
The strong northeast-trending EM conductor system in the South Walker Area has been the focus of exploration programs in the past. In 1979, Brinex Ltd. drilled three holes. In 2008, JNR Resources drilled six holes, with five of those at the north end of the conductor trend and associated with North Shore's target FA010. Structure-associated clay and chlorite alteration was reported in several holes and elevated copper, molybdenum, nickel, cobalt and vanadium were encountered in one hole (Sask. Mineral Assessment File 74H02-0045). Additionally, target FA010 coincides with a gravity low anomaly that could be an expression of alteration that may be associated with uranium mineralization. In early 2024, North Shore drilled one hole at target P12, due to unstable ground conditions, the hole was abandoned at 107.6 m, short of the targeted conductor depth of 125m. Whilst no significant uranium results were returned from North Shore's drilling at P12, a fault zone with associated elevated Boron values up to 74 ppm was identified from 10-12m.
Future work options in the South Walker Area contemplated by North Shore include:
- Complete drilling of hole P12 within target FA036 beyond the target depth of 125m;
- Determine if more drilling is justified at target FA010 where five holes were drilled in 2008, based on new data and interpretation; and
- Select other priority targets for drilling along the South Walker EM conductor system that have yet to be evaluated.
Summary of the South Walker Area:
https://www.skyharbourltd.com/_resources/images/Summary-of-the-South-Walker-area.jpg
Target FA020/EWA Showing:
Target FA020 is centered on a short, strong northeast-trending 1.5km long EM conductor and includes the EWA showing. At the EWA showing, up to 0.492% U 3 O 8 and 1,300 ppm lead was encountered in outcrop grab samples within a 10-20 m wide northeast-trending sheared pelitic unit with granitic inliers (Sask. Mineral Deposits Index [SMDI] 5038).
Target FA020/EWA Showing Area, Zone 2:
https://www.skyharbourltd.com/_resources/images/Target-FA020-EWA-Showing-area-Zone-2.jpg
In 2008, JNR Resources drilled six holes associated with the EWA showing at the eastern end of the EM conductor. Anomalous uranium, boron, lead, and molybdenum were encountered in structurally disrupted pegmatites; the best result was 0.235% U 3 O 8 over 0.5 m (within a 3.5 m interval of 0.113% U 3 O 8 ) in hole WYL-08-501 (Sask. Mineral Assessment File 74H02-0045). North Shore will evaluate the 1.2km long conductor system associated with EWA using 3D modeling to determine if more drilling is warranted in this area.
Target F010 with Data From the 2022 Airborne Gravity Survey Flown by Xcalibur Airborne Geophysics:
Targets FA011 and F019:
Target FA011 is located along the strong northeast-trending conductor system that has been the focus of previous exploration programs. There is an interpreted fault intersecting the conductor system coinciding with a slight disruption in the conductor at the fault intersection. The nearest 2008 drillholes are one kilometre to the northeast and one kilometre south.
Target FA019, which is located at the eastern edge of the property, is a 700m long strong EM conductor that is parallel to the main EM conductor trend. The conductor is terminated at its western end by an interpreted prominent north-south-trending fault zone.
Next Steps:
North Shore will continue prioritizing targets at Falcon in pursuit of maximizing the chances of success in its next drill program. As currently planned, that drill program would have two components, follow-up in areas with previous drilling including the 3.0 km trend within Zone 1 where North Shore discovered near-surface uranium mineralization in early 2024, and Zone 2, and the testing of new targets. Additional updates on North Shore's target prioritization efforts will be provided on an ongoing basis.
Red Cloud's Fall Mining Showcase, Toronto:
Skyharbour's President and CEO, Jordan Trimble will be presenting at the Red Cloud Fall Mining Showcase on Thursday, October 17 at 11:20 Eastern Standard Time at the Sheraton Centre Toronto Hotel https://redcloudfs.com/fallminingshowcase2024/
Falcon Uranium Project:
The Falcon Project, which constitutes part of North Shore's Falcon Property, contains eleven mineral claims comprising approximately 42,908 hectares approximately 50 km east of the Key Lake mine. Nine of the claims are from Skyharbour's original South Falcon Uranium Project and the remaining two claims are from Skyharbour's Foster River Project. Historical uranium mineralization discovered at Falcon is shallow and is hosted in several geological settings including classic Athabasca-style basement mineralization associated with well-developed EM conductors. At the EWA target, up to 0.492% U 3 O 8 and 1,300 ppm lead was encountered in outcrop grab samples (Sask. Mineral Deposits Index [SMDI] 5038). Historical grab sampling at Knob Lake (SMDI 1014) also encountered up to 0.01% U 3 O 8 in an outcrop of pegmatite, while anomalous nickel, copper, and molybdenum were found in historical grab samples from the Fraser North target area (SMDI's 1125 and 1126).
A well-defined northeast-trending, locally folded, electromagnetic conductor system runs throughout the Property, which was defined by airborne and ground geophysical surveys by JNR Resources ("JNR") in the 2000's. In 2008 JNR conducted a drill campaign at the property area. Of the 47 holes drilled that year, 28 holes (totaling 7,348 metres) were drilled on the South Falcon Uranium Property at the Walker (14 holes), Walker South (7 holes), and EWA target areas (6 holes). At the Walker and South Walker targets, which lie along the aforementioned EM conductor system, structurally disrupted and variably altered metasediments (including graphitic pelitic gneisses) with anomalous boron, copper, molybdenum, nickel, cobalt, arsenic, and vanadium were encountered in several drill holes. During this same drill campaign, the Fraser Lakes Zone B uranium deposit was discovered approximately four kilometres east of the Walker South target on a refolded extension of the EM conductor system. At the EWA target, which lies along a separate northeast-trending EM conductor, anomalous uranium, boron, lead, and molybdenum were encountered in structurally disrupted pegmatites; the best result was 0.235% U 3 O 8 over 0.5 m (within a 3.5 m interval of 0.113% U 3 O 8 ) in hole WYL-08-501 (Sask. Mineral Assessment File 74H02-0045).
Furthermore, in 2022, Skyharbour completed a FALCON® airborne gravity gradiometer and magnetic survey over nine of the eleven claims at the Falcon Property. This new geophysical data will assist North Shore in prioritizing areas along the EM conductor system for drilling. Over 30 kilometres of the EM conductor system remains untested on the Falcon Property. North Shore's initial focus will be on the two claims formerly part of the Foster Project (geophysics), and on generating drill targets on three claims at the southeastern end of the EM conductor systems including Knob Lake, which shows similarities to the Fraser Lakes Zone B deposit approximately 6 km to the northeast and several other high-priority targets elsewhere along the main EM conductor system.
Significant potential exists on the project for basement-hosted, unconformity-related uranium deposits like those further to the north in the Wollaston Domain (i.e. Eagle Point, Rabbit Lake, Key Lake and others), as well as for pegmatite/granite-hosted (i.e. alaskite-type) U-Th-REE mineralization like at the Fraser Lakes Zone B deposit on Skyharbour's adjacent South Falcon East Property, currently under option to Tisdale Clean Energy.
The Option Agreement:
North Shore may acquire an initial 80% interest in the Property by issuing common shares of the Resulting Issuer ("Shares") having an aggregate value of CAD $1,225,000; making aggregate cash payments of CAD $525,000; and incurring an aggregate of CAD $3,550,000 in exploration expenditures on the Property over a three-year period. Once North Shore has earned an initial 80% interest in the Property, North Shore may acquire the remaining 20% interest in the Property within 90 business days by issuing Shares having a value of CAD $5,000,000, and making a cash payment of CAD $5,000,000 to Skyharbour. If North Shore does not elect to acquire the remaining 20% interest, a joint venture will be formed with Skyharbour holding a 20% participating interest.
North Shore will be the operator of the exploration programs during the earn-in stage and for the joint venture if formed. Two claims totaling 10,673 hectares that form part of Skyharbour's Foster River Property are subject to a one percent (1%) NSR royalty payable to Skyharbour. The remaining nine claims totaling 32,235 hectares that comprise Skyharbour's South Falcon Point Property are subject to a two percent (2%) NSR royalty payable to Denison Mines Corp. ("Denison") with North Shore having the right to purchase one percent of the royalty from Denison at anytime by paying $1 million. All Shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person.
About North Shore Uranium Ltd:
North Shore is a mineral exploration company focused on uranium exploration at the eastern margin of the Athabasca Basin through its Falcon property which will increase from 12,800 to 55,700 hectares with the addition of the claims subject to the Agreement, and the West Bear property located 90 kilometres to the northeast.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U 3 O 8 over 5.9 metres including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is the Russell Lake Uranium Project, which hosts several high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour has joint-ventures with industry-leader Orano Canada Inc., Azincourt Energy and Thunderbird Resources (previously Valor) at the Preston, East Preston and Hook Lake Projects, respectively. The Company also has several active earn-in option partners including: CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which is host to the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $38 million in partner-funded exploration expenditures, over $29 million worth of shares being issued and over $21 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour's Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company's website at www.skyharbourltd.com .
"Jordan Trimble"
______________________________
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
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Brahm Spilfogel Joins Nuclear Fuels Board of Directors
CSE:NF
OTCQX:NFUNF
Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announced today the appointment, effective immediately, of Mr. Brahm Spilfogel to the Board of Directors. Mr. Spilfogel also will serve as a member of the Audit Committee and the Compensation Committee. In association with this appointment, the Company announces a $98,750 CDN private placement with Mr. Spilfogel participating for a total of 250,000 shares at a price of $0.395 per common share.
William M. Sheriff , Chairman of Nuclear Fuels commented, "It is with great pleasure that we welcome Brahm to the Board of Directors, enhancing our skill set with his multiple decades as a resource portfolio manager with one of Canada's most well-respected asset managers. I have worked with Brahm in various roles and welcome his expertise on the Board as we advance Nuclear Fuels in the prolific uranium state of Wyoming . I also thank Larry Lahusen , who has resigned from the Board, for his contributions to Nuclear Fuels."
Brahm Spilfogel , Director
Brahm Spilfogel is an award-winning financial executive with over 25 years of experience in resource portfolio management. He recently retired from RBC Global Asset Management where he served as Managing Director and Senior Portfolio Manager, co-managing a number of portfolios including the RBC Global Precious Metal Fund, RBC Global Resources Fund, and the RBC Small and Mid-Cap Resources Fund, with assets exceeding $2 billion . As one of Canada's most well-regarded resource portfolio managers, Brahm has actively engaged with corporate boards, offering strategic insights and contributing to governance, safety, and sustainability discussions. His deep expertise in the Resources sector extends to financial analysis, mergers and acquisitions, and capital markets.
Throughout his career, Mr. Spilfogel has demonstrated exceptional leadership, mentoring colleagues and driving consistent fund performance. He holds a Bachelor of Commerce degree from McGill University and is a Chartered Financial Analyst (CFA).
The Company also announces it has granted Mr. Spilfogel incentive stock options to purchase 300,000 common shares exercisable at a price of $0.395 per share, expiring October 9, 2027 . The options will vest 1/3 every six months over an 18 month period.
The Company also announced the retirement of Lawrence (Larry) Lahusen from the Board of Directors and thanks him for his service to the Company.
About Nuclear Fuels Inc.
Nuclear Fuels Inc. is a uranium exploration company advancing early-stage, district-scale In-Situ Recovery ("ISR") amenable uranium projects towards production in the United States of America . Leveraging extensive proprietary historical databases and deep industry expertise, Nuclear Fuels is well-positioned in a sector poised for significant and sustained growth on the back of strong government support. Nuclear Fuels has consolidated the Kaycee Wyoming district under single-company control for the first time since the early 1980s. Currently executing its second drill program at the Kaycee Project, the Company aims to expand on historic resources across a 35-mile trend with over 430 miles of mapped roll-fronts. The Company's strategic relationship with enCore Energy Corp., America's Clean Energy Company™, offers a mutually beneficial "pathway to production," with enCore retaining the right to back- in to 51% ownership in the flagship Kaycee Project in Wyoming's prolific Powder River Basin.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to planned exploration programs and the results of additional exploration work in seeking to establish mineral resources as defined in NI43-101 on any of our properties. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with the completing planned exploration programs and the results of those programs; the ability to access additional capital to fund planned and future operations; regulatory risks including exploration permitting; risks associated with title to our mineral projects; the ability of the company to implement its business strategies; and other risks including risks contained in documents available for review at www.sedar.com under the Company's profile. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE Nuclear Fuels Inc.
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Skyharbour Partner Medaro Mining Announces Exploration Plan for the Yurchison Uranium Project Located in the Athabasca Basin, Saskatchewan
Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) ("Skyharbour" or the "Company"), partner company Medaro Mining ("Medaro") is pleased to announce its exploration plans for a winter program at its Yurchison Uranium property located in Saskatchewan. The program is anticipated to commence within the next 45 days.
Location Map of Yurchison Project:
https://www.skyharbourltd.com/_resources/maps/Sky_Yurchison_20211209.jpg
Geological prospecting, mapping, and sampling of the various rock types located on the property will be aided by ground radiometric surveying using handheld gamma-ray spectrometers and scintillometers. The primary goals of the field program will be to determine the hose-rock and/or structural control of previous identified radioactive mineral occurrences, explain the surficial expression (if any) of the VTEM conductors, and ultimately locate additional zones of uranium mineralization and/or radioactivity along prospective zones.
The Yurchison property lies approximately 95 km south of Rabbit Lake and McClean Lake uranium mines, along the southeastern boundary of the Athabasca Basin. The Yurchison project area is accessible via Highway 905, an all-weather highway that runs through the middle of the Property. Access to the south-west and north-east areas of the Property would be accomplished with a helicopter.
Commenting on this start of the program Medaro Mining's CEO Michael Mulberry said,
"We are excited to launch this program at our Yurchison Lake project. Our earlier exploration work, including the discovery of uranium indicators, has provided us with targets and look to expand on them. This program represents a critical next step in advancing the project as we work towards unlocking its full potential. The Athabasca Basin region is known for its rich mineral resources, and we are optimistic about the opportunities that lie ahead."
About Yurchison:
Historical prospecting near old trenches returned significant uranium (ranging from 0.09% to 0.30% U 3 O 8 ) and molybdenum (ranging from 2,500 ppm to 6,400 ppm Mo) mineralization in both outcrop and float samples. Two historical holes drilled beneath the trenches returned highly anomalous molybdenum values, up to 3,750 ppm and anomalous uranium values up to 240 ppm. The Property boasts strong discovery potential for both basement hosted uranium mineralization as well as copper, zinc, and molybdenum mineralization. Regionally, Rio Tinto entered into a $30 million, seven-year, option agreement with Forum Energy Metals Corp. to acquire an 80% stake in their Janice Lake property which is located on-strike to the southwest of the Property.
The Option Agreement:
Pursuant to the Agreement, Medaro may acquire an initial 70% interest in the Property by (i) issuing common shares of Medaro ("Shares") having an aggregate value of CAD $3,000,000; (ii) making aggregate cash payments of CAD $800,000; and (iii) incurring an aggregate of CAD $5,000,000 in exploration expenditures on the Property over a three-year period. Once Medaro has earned an initial 70% interest in the Property, Medaro may acquire the remaining 30% interest in the Property, within 30 business days of earning the initial 70% interest, by (i) issuing Shares having a value of CAD $7,500,000, and (ii) making a cash payment of CAD $7,500,000.
Skyharbour will retain an NSR of two percent (2%) on 11 of the 12 claims with Medaro holding a buyback option whereby Medaro can purchase one percent (1%) of the NSR for CAD $1 million. A separate NSR of two percent (2%) on the other claim is payable to a third party (payable pro-rata based on ownership interest in the Property).
Qualified Person:
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by David Billard, P.Geo., a Consulting Geologist for Skyharbour as well as a Qualified Person. Mr. Billard has verified the data disclosed, which includes a review of the sampling, analytical and test data underlying the information and opinions contained herein.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with twenty-nine projects, ten of which are drill-ready, covering over 580,000 hectares (over 1.4 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U 3 O 8 over 5.9 metres including 20.8% U 3 O 8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Uranium Project is the Russell Lake Uranium Project, which hosts several high-grade uranium drill intercepts over a large property area with robust exploration upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour has joint-ventures with industry-leader Orano Canada Inc., Azincourt Energy and Thunderbird Resources (previously Valor) at the Preston, East Preston and Hook Lake Projects, respectively. The Company also has several active earn-in option partners including: CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; CSE-listed Medaro Mining Corp. at the Yurchison Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; and TSX-V listed Terra Clean Energy (previously Tisdale) at the South Falcon East Project which is host to the Fraser Lakes Zone B uranium and thorium deposit. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $38 million in partner-funded exploration expenditures, over $29 million worth of shares being issued and over $21 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour's Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company's website at www.skyharbourltd.com .
"Jordan Trimble"
_________________________
Jordan Trimble
President and CEO
For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
Skyharbour Resources Ltd.
Telephone: 604-558-5847
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
Forward-Looking Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company's profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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enCore Energy Hosts Grand Opening of the Alta Mesa Uranium Plant with George W. Bush, the 43rd President of the United States
NASDAQ:EU
TSXV:EU
www.encoreuranium.com
EnCore Energy Corp. (NASDAQ: EU) (TSXV: EU) (the " Company " or " enCore" ), a uranium producer and America's Clean Energy Company™, announced today that the Company held a grand opening celebration at its Alta Mesa In-Situ Recovery ("ISR") Uranium Central Processing Plant ("CPP") and Wellfield on Thursday, October 3 rd in South Texas . The private event, attended by 300 guests, featured a special conversation between George W. Bush, the 43 rd President of the United States and William M. Sheriff Executive Chairman of enCore Energy. Guests had the opportunity to hear about President George W. Bush's time in the White House, the challenges facing our nation in the 21st century, as well as his current work at the George W. Bush Presidential Center.
The Grand Opening, co-hosted by joint venture partner Boss Energy Ltd (ASX: BOE|OTCQX: BQSSF) ("Boss"), celebrated the restart of the Alta Mesa CPP and established enCore as the only uranium producer in the United States with multiple production facilities in operation. In addition to the private conversation with the George W. Bush, the 43 rd President of the United States , celebrations included honoring Dr. Dennis Stover , PhD, Director of enCore Energy and one of the original developers of the ISR technology utilized by enCore and Boss, for his 50+ years of commitment to the international uranium industry.
About enCore Energy Corp.
enCore Energy Corp., America's Clean Energy Company™, is committed to providing clean, reliable, and affordable fuel for nuclear energy as the only United States uranium producer with multiple production facilities in operation. The enCore team is led by industry experts with extensive knowledge and experience in all aspects of In-Situ Recovery ("ISR") uranium operations and the nuclear fuel cycle. enCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at enCore Energy.
Following upon enCore's demonstrated production success in South Texas , future projects in the production pipeline include the Dewey-Burdock project in South Dakota and the Gas Hills project in Wyoming . The Company holds other assets including significant New Mexico resources, non-core assets and proprietary databases. enCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments.
Cautionary Note Regarding Forward Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain information contained in this news release, including: any information relating to the Company being a leading uranium company, statements regarding future or potential production, and any other statements regarding future expectations, beliefs, goals or prospects; may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities laws and regulations (collectively, "forward-looking statements"). All statements in this news release that are not statements of historical fact (including statements containing the words "expects", "is expected", "does not expect", "plans", "anticipates", "does not anticipate", "believes", "intends", "estimates", "projects", "potential", "scheduled", "forecast", "budget" and similar expressions or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken) should be considered forward-looking statements. 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. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the ability of enCore to implement its business strategies; including achieving expected levels of production at Rosita and Alta Mesa in the planned time frame or at all; and other risks. A number of important factors could cause actual results or events to differ materially from those indicated or implied by such forward-looking statements, including without limitation exploration and development risks, changes in commodity prices, access to skilled mining personnel, the results of exploration and development activities; production risks; uninsured risks; regulatory risks; defects in title; the availability of materials and equipment, timeliness of government approvals and unanticipated environmental impacts on operations; litigation risks; risks posed by the economic and political environments in which the Company operates and intends to operate; increased competition; assumptions regarding market trends and the expected demand and desires for the Company's products and proposed products; reliance on industry equipment manufacturers, suppliers and others; the failure to adequately protect intellectual property; the failure to adequately manage future growth; adverse market conditions, the failure to satisfy ongoing regulatory requirements and factors relating to forward looking statements listed above which include risks as disclosed in the Company's annual information form filings. Should one or more of these risks materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company assumes no obligation to update the information in this communication, except as required by law. Additional information identifying risks and uncertainties is contained in filings by the Company with the various securities commissions which are available online at www.sec.gov and www.sedar.com . Forward-looking statements are provided for the purpose of providing information about the current expectations, beliefs and plans of management. Such statements may not be appropriate for other purposes and readers should not place undue reliance on these forward-looking statements, that speak only as of the date hereof, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE enCore Energy Corp.
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