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Cameco Reports Expected Increase in Its Share of Westinghouse 2025 Adjusted EBITDA
Cameco (TSX: CCO; NYSE: CCJ) reports an expected increase of approximately $170 million (US) in our 49% equity share of Westinghouse Electric Company's (Westinghouse) 2025 second quarter and annual adjusted EBITDA. The expected increase is tied to Westinghouse's participation in the construction project for two nuclear reactors at the Dukovany power plant in the Czech Republic. This expected increase will be taken into consideration in determining the 2025 distribution payable by Westinghouse to Cameco.
In addition to the increase in adjusted EBITDA in 2025, we expect significant financial benefits for Westinghouse, as a subcontractor, over the term of the Dukovany construction project and related to the provision of the fuel fabrication services required for both reactors for a specified period. The outlook for Westinghouse's compound annual growth rate for adjusted EBITDA remains 6% to 10% over the next five years, excluding the impact of the expected $170 million (US) increase in its 2025 adjusted EBITDA.
Cameco owns a 49% interest in Westinghouse and its partner, Brookfield Renewable Partners, owns the remaining 51%.
Caution about forward-looking information
This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include our expectations regarding: Westinghouse's participation in the Dukovany power plant construction project; an increase in Westinghouse's adjusted EBITDA; Westinghouse taking this increase into consideration in determining the 2025 distribution payable to Cameco; the financial benefits for Westinghouse, as subcontractor, over the term of the Dukovany construction project and the expected future growth in Westinghouse's compound annual growth rate for adjusted EBITDA. Material risks that could lead to different results include the risk that Westinghouse is not able to participate in the Dukovany construction project on a basis that achieves the currently expected benefits to Westinghouse for any reason, or that Cameco may not derive the expected increases in its share of Westinghouse's adjusted EBITDA, or that Westinghouse does not achieve the expected future annual growth in adjusted EBITDA. In presenting the forward-looking information, we have made material assumptions which may prove incorrect about Westinghouse's participation in the Dukovany construction project and related potential benefits to Westinghouse, and continuing growth in Westinghouse's compound annual growth rate for adjusted EBITDA.
Non-IFRS Measures
Adjusted EBITDA is a measure that does not have a standardized meaning or a consistent basis of calculation under International Financial Reporting Standards (a non-IFRS measure). Westinghouse's adjusted EBITDA is defined as its net income, adjusted for the impact of certain expenses, costs, charges or benefits incurred in such period which are either not indicative of underlying business performance or that impact the ability to assess the operating performance of its business. For more information regarding our use of this non-IFRS measure see our most recent annual and quarterly Management's Discussion and Analysis.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250606624616/en/
Investor inquiries
Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries
Veronica Baker
306-385-5541
veronica_baker@cameco.com
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Premier American Uranium to Acquire Nuclear Fuels, Creating One of America's Largest Pure-Play Uranium Explorers
Premier American Uranium Inc. ("PUR" or "Premier American Uranium") (TSXV: PUR, OTCQB: PAUIF) and Nuclear Fuels Inc. ("NF" or "Nuclear Fuels") (CSE: NF, OTCQX: NFUNF) are pleased to announce that they have entered into an arm's length definitive agreement (the " Arrangement Agreement ") dated June 4, 2025, pursuant to which Premier American Uranium has agreed to acquire all of the issued and outstanding common shares of Nuclear Fuels (the " NF Shares ") by way of a court-approved plan of arrangement (the " Arrangement " or the " Transaction "). Nuclear Fuels holds a 100% interest in the Kaycee Uranium Project (" Kaycee ") located in Wyoming's prolific Powder River Basin (Figure 1). The Kaycee Project spans a 35-mile trend of altered and mineralized sandstones, supported by over 4,200 drill holes and 430 miles of mapped roll fronts. In addition to Kaycee, Nuclear Fuels also holds five exploration-stage projects across key uranium districts in Wyoming, Utah, and Arizona.
Under the terms of the Arrangement, shareholders of Nuclear Fuels (" NF Shareholders ") will receive 0.33 of a common share of Premier American Uranium (each whole share, a " PUR Share ") for each NF Share held (the " Exchange Ratio "). Existing shareholders of Premier American Uranium and Nuclear Fuels will own approximately 59% and 41% (on a basic shares outstanding basis), respectively, of the pro forma outstanding PUR Shares on closing of the Arrangement. The Exchange Ratio implies consideration of C$0.43 per NF Share based on the 20-day volume weighted average price (" VWAP20 ") of PUR Shares on the TSX Venture Exchange (the " TSXV ") on June 4, 2025. The Transaction represents a premium of 54% to the closing price of the NF Shares on the Canadian Securities Exchange (the " CSE ") and a 46% premium to the VWAP20 of NF Shares on the CSE for the period ending June 4, 2025 1 . The implied equity value of the combined company (the " Company ") is estimated at approximately C$102 million 2 .
Strategic Rationale for the Transaction
- Establishes America's leading uranium explorer with a consolidated portfolio of 12 projects across key U.S. uranium districts, including estimated mineral resource of 18.6 Mlbs U 3 O 8 Indicated and 4.9 Mlbs U 3 O 8 Inferred at its Cebolleta Project in New Mexico 3 and exploration potential at several other projects in Wyoming, as indicated by the results of historical exploration drilling (Figure 2) and recent NI 43-101 technical reports. The combined project portfolio will span over 104,000 acres and includes projects from near-term development to early-stage exploration, supported by an extensive geological database that is expected to enable efficient resource conversion and targeted discovery potential. Additional assets in Colorado, Utah, and Arizona provide further growth potential.
- Enhanced presence in Wyoming, where the Company will have completed the most exploration drilling amongst Wyoming-focused in-situ recovery ("ISR") explorers in 2024. The Transaction unites PUR's Cyclone Project in the Great Divide Basin with NF's Kaycee Project in the Powder River Basin—two of Wyoming's most important productive ISR regions. In 2024, the companies completed an aggregate of 368 holes on their respective properties totaling 209,490 feet, representing one of the largest ISR drilling exploration programs in the U.S. Both projects stand to benefit from shared technical expertise ahead of the 2025 drill season.
- Compelling catalysts to de-risk development include, a planned mineral resource update and PEA for Cebolleta expected to be completed in summer 2025, with potential expansion drilling to follow. Located in the prolific Grants Mineral Belt of New Mexico, which has produced over 347 Mlbs U₃O₈ 4 , Cebolleta is strategically positioned for potential future development. In May 2025, four Grants District uranium projects were added to the U.S. Federal FAST-41 permitting dashboard, underscoring the district's growing strategic significance.
- Backed by founding shareholders Sachem Cove and IsoEnergy, along with sector leaders enCore Energy Corp. and Mega Uranium, the Company will have strong strategic ownership, deep development expertise, and a clear mandate for U.S. uranium consolidation. Estimated post-transaction ownership includes Sachem Cove Partners LLC (23.2%), enCore Energy Corp. (9.5%), IsoEnergy Ltd. (5.4%) and Mega Uranium Ltd. (2.3%).
- Fully funded for growth, with C$14M in cash 6 , the Company is expected to have financial flexibility to aggressively advance the combined portfolio and evaluate further M&A opportunities .
- Stronger capital markets profile, with a more diversified shareholder base and enhanced market capitalization, the Company is expected to have broader institutional, retail investor and ETF interest and increased visibility among research analysts .
Colin Healey, CEO of Premier American Uranium, commented, "Premier American Uranium is proud to pursue this Transaction to combine our assets with those of Nuclear Fuels. Kaycee is an exciting ISR prospect that, in combination with our own Cyclone Project, is expected to position PUR as one of the most active uranium explorers in Wyoming. While we target resource growth in Wyoming, we will continue to advance our Cebolleta Project in New Mexico along the development curve. This is the second major acquisition for Premier American Uranium within the last 12 months, and it adheres to our goal of growth during a time of pronounced optimism in the nuclear space. Finally, the joining of strengths and backers of the two companies is a notable merit to the deal, with IsoEnergy, enCore Energy Corp., Mega, and Sachem Cove all on the pro forma share register."
Greg Huffman, CEO, President & Director of Nuclear Fuels, further added, "We believe this Transaction offers numerous merits for NF Shareholders. Primarily, we welcome the diversification and depth of the expanded asset portfolio across the key U.S. uranium jurisdictions, most notably a doubling down on exposure in Wyoming. An exploration focus is too rare amongst U.S. uranium miners, and the combined company will seek to fill that gap. Additionally, the strength of the combined shareholder registers and the increasingly important role of ETF ownership is expected to underpin the Company's prospects going forward."
About the Kaycee Project
Historic exploration at the Kaycee Project, including over 3,800 drill holes has confirmed uranium mineralization over more than 1,000 vertical feet in all three historically productive sandstones within the Powder River Basin, making the Kaycee Project unique as the only project in the Powder River Basin where all three formations—Wasatch, Fort Union, and Lance—are known to be mineralized and potentially amenable to ISR extraction. The majority of the mineralized trends have not yet been well-explored with drilling concentrated only on approximately 10% of the trend.
In September 2024, Nuclear Fuels released a NI 43-101 technical report for the Kaycee Project entitled "NI 43-101 Technical Report, Kaycee Uranium Project, Johnson County, WY, USA" with an effective date of December 31, 2023. The technical report, prepared by WWC Engineering, identified an exploration target of 9.6 million tons at an average grade of 0.060% to 14.8 million tons at an average grade of 0.101 U 3 O 8 % 5 supported by available historical data from previous operators and recent exploration conducted by Nuclear Fuels.
Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp. (" enCore ") in 2022 and has completed 411 exploration drill holes totalling 225,260 feet over the past two years. enCore retains a buyback option to acquire a 51% interest in Kaycee by making a cash payment equal to 2.5 times the exploration expenditures incurred by Nuclear Fuels and carrying the Kaycee project through to commercial production (with 49% of post-exercise project expenditures recoverable from net proceeds of commercial production). This buyback option is exercisable by enCore upon Nuclear Fuels establishing a NI 43-101 compliant estimate of measured and indicated mineral resources of greater than 15 Mlbs U 3 O 8 , or 20 Mlbs U 3 O 8 measured and indicated plus inferred resources, so long as total measured and indicated resources is at least 10 Mlbs U 3 O 8 .
Figure 1: Location of Nuclear Fuels' Kaycee Project in Wyoming's Powder River Basin, situated near Premier American Uranium's Cyclone Project in the neighbouring Great Divide Basin.
Figure 2: Pro forma portfolio of 12 projects across key U.S. uranium districts.
Transaction Details
Pursuant to the terms of the Arrangement Agreement, all of the issued and outstanding NF Shares will be exchanged for PUR Shares based on the Exchange Ratio. Outstanding and unexercised warrants and stock options to purchase NF Shares will additionally be adjusted in accordance with their terms based on the Exchange Ratio.
The Arrangement Agreement includes standard deal protections, including non-solicitation and fiduciary out provisions with respect to Nuclear Fuels and a right-to-match in favour of Premier American Uranium, as well as certain representations, covenants and conditions that are customary for a transaction of this nature and a termination fee of $2 million payable to Premier American Uranium in certain circumstances.
The Transaction will be effected by way of a plan of arrangement completed under the Business Corporations Act (British Columbia). The Transaction will require approval by at least 66 2/3% of the votes cast by NF Shareholders and, if required by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, a simple majority of the votes cast by NF Shareholders excluding certain interested or related parties, in each case by shareholders present in person or represented by proxy at a special meeting of NF Shareholders to be called in connection with the Transaction (the " NF Special Meeting ").
The NF Special Meeting is expected to be held in the third quarter of 2025. An information circular detailing the terms and conditions of the Transaction will be mailed to the NF Shareholders in connection with the NF Special Meeting. All NF Shareholders are urged to read the information circular once available, as it will contain important additional information concerning the Transaction.
Closing of the Transaction is subject to the receipt of applicable regulatory approvals and the satisfaction of certain other closing conditions customary in transactions of this nature, including, without limitation, court and stock exchange approval. Closing of the Transaction is anticipated to occur in the third quarter of 2025.
None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act "), or any state securities laws, and any securities issuable in the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Management and Board of Directors
On closing of the Transaction, the Company's board of directors is expected to be comprised of up to five members from the current directors or management of Premier American Uranium and two nominees from the current directors or management of Nuclear Fuels. The Company will be managed by the current executive team of Premier American Uranium, led by Colin Healey as CEO.
Nuclear Fuels Special Committee and Fairness Opinion
Nuclear Fuels established a special committee of its Board of Directors (the " Special Committee ") to review the Transaction. The Special Committee engaged Evans & Evans, Inc. (" Evans & Evans ") to provide a fairness opinion with respect to the Transaction.
The fairness opinion provided by Evans & Evans confirmed that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the consideration to be received by NF Shareholders pursuant to the Transaction is fair, from a financial point of view, to NF Shareholders.
The Special Committee unanimously recommended that the Board of Directors of Nuclear Fuels approve the Arrangement and that NF Shareholders vote in favour of the Transaction at the NF Special Meeting.
Board Recommendations and Voting Support
The Arrangement has been unanimously approved by the boards of directors of both Premier American Uranium and Nuclear Fuels, and Nuclear Fuels' board unanimously recommends that its shareholders vote in favour of the Transaction.
Each of the officers and directors of Nuclear Fuels, along with enCore Energy Corp., holding collectively 21.19% of the outstanding NF Shares, have entered into customary voting support agreements with Premier American Uranium pursuant to which they have agreed, among other things, to vote their NF Shares in favour of the Transaction.
Haywood Securities Inc. has provided a fairness opinion to the Board of Directors of Premier American Uranium, to the effect that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications set out in such opinion, the consideration to be paid by Premier American Uranium pursuant to the Transaction is fair, from a financial point of view, to Premier American Uranium.
Canaccord Genuity Corp. has provided a fairness opinion to the Board of Directors of Nuclear Fuels, to the effect that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications set out in such opinion, the consideration to be received by NF Shareholders pursuant to the Transaction is fair, from a financial point of view, to NF Shareholders.
Advisors and Counsel
Haywood Securities Inc. is acting as financial advisor to Premier American Uranium. Cassels Brock & Blackwell LLP is acting as legal counsel to Premier American Uranium.
Canaccord Genuity Corp. is acting as financial advisor to Nuclear Fuels. Morton Law LLP is acting as legal counsel to Nuclear Fuels.
Qualified Persons
The scientific and technical information contained in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed and approved on behalf of Premier American Uranium by Dean T. Wilton, PG, CPG, MAIG, and on behalf of Nuclear Fuels by Mark Travis, CPG, each of whom are consultants and contractors of Premier American Uranium and Nuclear Fuels, respectively, and each a "Qualified Person" as defined by NI 43-101.
For additional information regarding PUR's Cebolleta Project, including the current mineral resource estimate, please refer to the Technical Report entitled "The Cebolleta Uranium Project Cibola County, New Mexico, USA" with an effective date of April 30, 2024, prepared by SLR International Corporation, available under PUR's profile on www.sedarplus.ca .
For additional information regarding PUR's Cyclone Project including the exploration target, please refer to the Technical Report entitled "Technical Report on the Cyclone Rim Uranium Project, Great Divide Basin, Wyoming, USA" with an effective date of June 30, 2023, prepared by Douglas L. Beahm, P.E., P.G., available under PUR's profile on www.sedarplus.ca.
For additional information regarding Nuclear Fuels' Kaycee Project, including the exploration target, please refer to the Technical Report entitled "NI 43-101 Technical Report, Kaycee Uranium Project, Johnson County, WY, USA" with an effective date of December 31, 2023, prepared by WWC Engineering, available under NF's profile on www.sedarplus.ca .
About Premier American Uranium Inc.
Premier American Uranium is focused on the consolidation, exploration, and development of uranium projects in the United States, aiming to strengthen domestic energy security and support the transition to clean energy. One of Premier's key strengths is the extensive land holdings in three prominent uranium-producing regions in the United States: the Grants Mineral Belt of New Mexico, the Great Divide Basin of Wyoming and the Uravan Mineral Belt of Colorado.
With current resources and defined resource exploration targets, Premier American Uranium is actively advancing its portfolio through work programs. Premier American Uranium benefits from strong partnerships, with backing from Sachem Cove Partners, IsoEnergy Ltd., Mega Uranium Ltd., and other institutional investors. The Company's distinguished team has extensive experience in uranium exploration, development, permitting, and operations, as well as uranium-focused mergers and acquisitions—positioning PUR as a key player in advancing the U.S. uranium sector.
About Nuclear Fuels Inc.
Nuclear Fuels Inc. is a uranium exploration company advancing early-stage, district-scale ISR amenable uranium projects towards production in the U.S. 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 district under single-company control for the first time since the early 1980s. Currently planning its 2025 drill program following successful 2023 and 2024 drilling, the Company aims to expand on historic resources across a 35-mile trend with over 430 miles of mapped roll-fronts defined by 3,800 drill holes. The Company's strategic relationship with enCore Energy Corp., America's Clean Energy Company™, offers a mutually beneficial "pathway to production," with enCore owning an equity interest and retaining the right to back-in to 51% ownership in the flagship Kaycee Project in Wyoming's prolific Powder River Basin.
Contact Information
| Premier American Uranium Inc. Colin Healey CEO 1 (833) 223-4673 info@premierur.com www.premierur.com | Nuclear Fuels Inc. Greg Huffman CEO 1 (647) 519-4447 info@nfuranium.com www.nfuranium.com |
Cautionary Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information and statements are based on numerous assumptions, including assumptions regarding the completion of the Arrangement, including receipt of required shareholder, regulatory, court and stock exchange approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement; the prospects of the combined company following completion of the Arrangement; that the anticipated benefits of the Arrangement will be realized; the anticipated timing of completion of the Arrangement; anticipated strategic and growth opportunities for the combined company; expectations regarding the U.S. uranium industry, including the demand for uranium; the exploration targets for the Cebolleta Project and the Kaycee Project, the prospects of the Cebolleta Project, including mineralization of the Cebolleta Project and plans with respect to preparation of an updated mineral resource estimate and preliminary economic assessment on the Cebolleta Project; any expectation with respect to any permitting, development or other work that may be required to bring any of the projects into development, expectations as to future exploration potential for any of the projects, any expectations as to the outcome or success of any proposed programs for the projects, any expectations that market conditions will warrant future production from any of the projects, and any other activities, events or developments that the companies expect or anticipate will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including assumptions regarding the combined company following completion of the Arrangement; that the anticipated benefits of the Arrangement will be realized; that the Arrangement will be completed on the terms and timing currently anticipate; that all conditions to closing of the Arrangement will be satisfied, including receipt of required shareholder, regulatory, court and stock exchange approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the Arrangement, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the parties' planned exploration and development activities will be available on reasonable terms and in a timely manner. Although the assumptions made by Premier American Uranium and Nuclear Fuels in providing forward-looking information or making forward-looking statements are considered reasonable by management of each company at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information also involves known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: the failure to obtain shareholder, regulatory, court or stock exchange approvals in connection with the Arrangement, failure to complete the Arrangement, failure to realize the anticipated benefits of the Arrangement or implement the business plan for the combined company, negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known current mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals and the risk factors with respect to Premier American Uranium and with respect to Nuclear Fuels set out in the companies' most recent annual management discussion and analysis and other filings which have been filed with the Canadian securities regulators and available under Premier American Uranium's and Nuclear Fuels' respective profiles on SEDAR+ at www.sedarplus.ca.
Although Premier American Uranium and Nuclear Fuels have attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. Premier American Uranium and Nuclear Fuels undertake no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
_______________________
1 Premium is calculated using the 20-day VWAP of PUR Shares and NF Shares over all Canadian exchanges for the period ending June 4, 2025.
2 Calculated using the closing share price of PUR Shares on the TSXV on June 4, 2025 and the pro forma basic shares outstanding of the Company.
3 See NI 43-101 Technical Report on the Cebolleta Uranium Project Cibola County, New Mexico, USA – effective date April 30, 2024, prepared by SLR International Corporation.
4 Uranium resources in the Grants uranium district, New Mexico: An update Virginia T. McLemore, Brad Hill, Niranjan Khalsa, and Susan A. Lucas Kamat 2013.
6 Premier American Uranium Financial Statements as at March 31, 2025, Nuclear Fuels Financial Statements as at December 31, 2024.
5 The potential quantity and grade of the exploration targets are conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource; See NI 43-101 Technical Report on the Kaycee Uranium Project Johnson County, Wyoming, USA – effective date September 6, 2024, prepared by WWC Engineering.
Photos accompanying this announcement are available at :
https://www.globenewswire.com/NewsRoom/AttachmentNg/16e8e370-62c6-4088-826d-24c83f821270
https://www.globenewswire.com/NewsRoom/AttachmentNg/71533f9a-f05b-448c-bd00-2e64919946aa
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Blue Sky Confirms Uranium Discovery Potential at its ISR Corcovo Project, Argentina
TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF
Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF) ("Blue Sky" or the "Company") is pleased to announce the results of the initial technical review work completed at the Corcovo Uranium Project, an "in situ" recovery (" ISR ") high potential target in Mendoza Province Argentina . The geological team has reviewed and interpreted bore-hole survey data from 89 historical oil and gas (" O&G ") wells, identifying radiometric anomalies at four different stacked horizons, including significant sections up to 10m in thickness along an open trend of more than 10km long (see Figure 1 ).
Nikolaos Cacos , President & CEO of the Company stated, "This data from Corcovo represents a major step forward towards a potential second significant discovery for our Company. The quality and continuity of the radiometric anomalies support the ISR potential of the region, initially recognized as area prospective for uranium by the National Atomic Energy Commission (" CNEA ") and confirm Corcovo as a promising new target area in our portfolio."
The Corcovo Project covers 20,000 hectares at the northeastern margin of the O&G producing Neuquén Basin. The geological potential of the region for uranium ISR deposits was initially defined by CNEA, the state-owned nuclear company, as reported in the International Atomic Energy Agency and Nuclear Energy Agency document titled: " Uranium 2024: Resources, Production and Demand ". Blue Sky optioned the Corcovo project in 2024 as part of a strategic initiative to broaden the Company's medium to long-term prospects for discovery of additional uranium mineral resources. The project benefits from flat topography, road access, and year-round accessibility, supporting cost-effective exploration and potential future ISR development.
Highlights of the Technical Review:
Blue Sky geologists obtained data for the historical O&G wells via public access request. The data review and interpretation was completed for 89 drill holes for which gamma-ray, density, and self-potential (" SP ") logs were obtained and provided strong geological control. Thirty wells detected (" Ueq ") (see Table 1). Four discrete uranium-bearing intervals were identified in fluvial and channelized sandstones, including:
- Centenario Formation Core: 500–600m* depth, most continuous and highest-grade target identified based on the data available to date
- Centenario Formation Edge: 500–550m* depth, transitional zone, isolated intercepts up to 60 ppm Ueq in less continuous horizon
- Neuquén Horizon: 300–400m* depth, shallowest zone with continuous sandstone layers, preliminary Uranium equivalent values range between 25–65 ppm.
- Rayoso Channel: 450–500m* depth, interpreted paleo-channel fill, shows Ueq anomalies ranging from 30–80 ppm.
*depths indicated are metres below drilling surface |
The Centenario Formation Core is the main target, where prospective radiometric anomalies between 1 and 10m thickness were detected, with values up to 261 ppm Ueq (0.03 U 3 O 8 eq; drill hole JCP-1002, @ 560.30m and 560.37m ) and estimated porosity values were between 22%–30% (see methodology description below). Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs, using spectrometric tools with readings approximately every 0.15 to 0.25 metres.
A preliminary Ueq×thickness contour map for the Centenario Formation Core target outlines a potential roll-front morphology along approximately 7km (see Figure 1 , grey dashed line). The estimated porosity indicates potentially favorable conditions for "in situ" recovery production methodologies. In the northwestern zone where the best results to date have been identified, the interpretation is considered preliminary and based on limited historical drillholes.
Deposit Model
The Inkai uranium project in Kazakhstan is one of the world-leading ISR mining projects and a model for exploration at Corcovo. This roll-front uranium mineralization is hosted in permeable Cretaceous fluvial sandstones, with mineralized zones located at depths of 350 to 530 metres. Individual orebody thicknesses range from 2 to 10 metres, with localized zones reaching up to 15 metres. A characteristic of Inkai is the continuity and scale of the mineralization: roll-front horizons are laterally extensive, commonly traceable for over 25 kilometers in length and up to hundreds of metres in width. These dimensions, combined with favorable porosity and permeability, support efficient and sustained ISR operations. The deposit averages approximately 0.03% U₃O₈ and contains proven and probable reserves totaling 368 million tonnes with 251 million pounds of U₃O₈ ( www.cameco.com 06/02/2025).
Planned Activities and Data Acquisition
The Company has confirmed the existence of additional subsurface information within the Corcovo area, including a 3D-2D seismic survey and data from approximately 200 historical drill holes with spacing of approximately 330 to 400 metres. The drill hole information will be particularly valuable in the northwestern sector, where the current drill spacing is generally wider. This additional information will support 3D seismic interpretation to refine the morphology of horizons with anomalous uranium equivalent and their relation to subsurface geologic structures. The process is underway to secure access to this information. In addition, the Company aims to obtain water samples from active oil wells operating under secondary recovery within the property limits, and drill cuttings from historic holes, to validate the historic gamma-ray data and complete geochemical testing.
Drill Hole Data Summary
Table 1. Summary of Drill Holes with Significant Intervals of Anomalous Ueq
(Intervals approximate true thickness as all holes drilled vertically through flat-lying strata.)
Hole ID | Year | From (m) | To (m) | GR (API) | Ueq (ppm) | Thickness (m) | Horizon |
JCP-1001 | 2007 | 576 | 577 | 416 | 39 | 0.8 | Centenario Edge |
584 | 594 | 389 | 36 | 9.7 | Centenario Core | ||
598 | 605 | 366 | 32 | 7.8 | Centenario Core | ||
570 | 571 | 349 | 28 | 0.5 | Centenario Edge | ||
611 | 611 | 339 | 31 | 0.5 | Centenario Core | ||
JCP-1006 | 2008 | 569 | 579 | 743 | 65 | 10.1 | Centenario Core |
443 | 445 | 397 | 36 | 1.7 | Rayoso Channel | ||
542 | 543 | 384 | 35 | 1.1 | Centenario Core | ||
JCP-1004 | 2008 | 588 | 589 | 679 | 69 | 1.1 | Centenario Core |
JCP-1002 | 2007 | 559 | 564 | 823 | 66 | 5.0 | Centenario Core |
569 | 569 | 300 | 19 | 0.2 | Centenario Core | ||
CoHS.a-2066 | 2018 | 637 | 638 | 749 | 70 | 0.8 | Centenario Core |
657 | 657 | 403 | 36 | 0.8 | Centenario Core | ||
CoHS.a-2016 | 2013 | 569 | 570 | 954 | 78 | 1.4 | Centenario Core |
CoHS-2026 | 2009 | 328 | 330 | 787 | 76 | 1.7 | Neuquén |
576 | 577 | 417 | 31 | 0.8 | Centenario Core | ||
CoHS-2027 | 2015 | 572 | 573 | 625 | 60 | 1.5 | Centenario Core |
430 | 433 | 324 | 27 | 3.5 | Rayoso Channel | ||
314 | 318 | 305 | 24 | 3.5 | Neuquén | ||
CoH.a-4 | 2007 | 548 | 549 | 491 | 49 | 0.8 | Centenario Edge |
488 | 490 | 422 | 37 | 1.7 | Rayoso Channel | ||
603 | 604 | 343 | 25 | 0.6 | Centenario Core | ||
612 | 613 | 329 | 31 | 0.5 | Centenario Core | ||
749 | 750 | 327 | 25 | 0.6 | |||
CoHS.a-1021 | 2011 | 575 | 576 | 549 | 54 | 1.0 | Centenario Core |
CoHS.a-2034 | 2016 | 436 | 437 | 416 | 38 | 1.2 | Rayoso Channel |
567 | 567 | 357 | 20 | 0.3 | Centenario Core | ||
CoHS.a-2064 | 2018 | 563 | 568 | 367 | 32 | 4.7 | Centenario Core |
CoHS.ia-2009 | 2012 | 575 | 578 | 327 | 24 | 2.6 | Centenario Core |
CoHS.ia-2015 | 2013 | 568 | 568 | 304 | 24 | 0.2 | Centenario Core |
CoHS-2010 | 2012 | 577 | 578 | 439 | 41 | 0.6 | Centenario Core |
CoHS-2013 | 2012 | 573 | 574 | 354 | 31 | 0.5 | Centenario Core |
CoHS-2019 | 2013 | 578 | 579 | 721 | 60 | 1.2 | Centenario Core |
570 | 572 | 709 | 65 | 2.1 | Centenario Core | ||
CoHS-2022 | 2014 | 471 | 471 | 359 | 24 | 0.5 | Centenario Core |
CoHS-2028 | 2015 | 578 | 578 | 362 | 24 | 0.3 | Centenario Core |
CoHS-2029 | 2015 | 574 | 575 | 421 | 31 | 1.1 | Centenario Core |
ECo.a-3 | 2006 | 575 | 578 | 304 | 24 | 2.9 | Centenario Core |
ECo.a-5 | 2006 | 588 | 589 | 304 | 24 | 1.1 | Centenario Core |
CoHS.a-2001 | 2011 | 573 | 573 | 345 | 26 | 0.5 | Centenario Core |
CoHS.a-2068 | 2018 | 591 | 592 | 427 | 37 | 0.6 | Centenario Core |
CoHS.a-2014 | 2013 | 577 | 578 | 337 | 30 | 0.6 | Centenario Core |
CoHS.a-1009 | 2009 | 703 | 703 | 304 | 24 | 0.2 | Centenario Core |
CoHS.a-1018 | 2010 | 428 | 429 | 517 | 44 | 1.1 | Rayoso Channel |
571 | 571 | 349 | 32 | 0.5 | Centenario Core | ||
CoHS.a-2004 | 2011 | 570 | 571 | 446 | 45 | 1.3 | Centenario Core |
579 | 582 | 314 | 24 | 3.1 | Centenario Core | ||
CoHS.a-2007 | 2012 | 573 | 574 | 367 | 33 | 0.6 | Centenario Core |
CoHS.a-2012 | 2012 | 576 | 577 | 438 | 38 | 0.6 | Centenario Core |
441 | 442 | 375 | 34 | 0.8 | Rayoso Channel | ||
Note: Ueq is a length weighted average over the reported interval. | |||||||
Methodology and QA/QC
Blue Sky Uranium Corp. obtained oil and gas drilling data for 89 wells from Pluspetrol, for work conducted on the properties between 2006 and 2018 including by its corporate predecessors (see drill hole information in Table 2 ). This data originates from historical oil and gas exploration programs and has not been independently verified by a Qualified Person.
Uranium equivalent values were obtained directly from calibrated spectral gamma-ray logs using NaI(Tl) crystal-based tools, with measurements taken approximately every 0.15 to 0.25 metres. Readers are cautioned that uranium-series disequilibrium may affect radiometric results, potentially leading to either underestimation or overestimation of actual uranium content.
Porosity was estimated using an average derived from three geophysical logs: the neutron log, the compressional sonic log, and the bulk density (" RHOB ") log. This standard petrophysical approach provides a reasonable approximation in the absence of core data. Density values reported are taken from the RHOB profile in historical oil and gas well logs.
Qualified Persons
The technical contents of this news release have been reviewed and approved by Mr. Ariel Testi , CPG, who works for the Company and is a Qualified Person as defined in National Instrument 43-101.
About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina . The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina . The Company's Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. Blue Sky is advancing its flagship Ivana Uranium-Vanadium Deposit through a joint venture with subsidiaries of Corporación América Group. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
ON BEHALF OF THE BOARD
"Nikolaos Cacos"
______________________________________
Nikolaos Cacos , President, CEO and Director
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.
This news release may contain forward-looking statements and forward-looking information (collectively, the "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Any statements that are contained in this press 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", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward-looking statements that, other than statements of historical fact, address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's planned drilling campaigns. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: uncertainty relating to mineral resources; risks related to heavy metal and transition metal price fluctuations, particularly uranium and vanadium; ri sks relating to the dependence of the Company on key management personnel and outside parties; the potential impact of global pandemics; risks and uncertainties related to governmental regulation and the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, including in respect of the Company's planned exploration program described in this news release. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.
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SOURCE Blue Sky Uranium Corp.
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Northern Saskatchewan Operations Update
Cameco (TSX: CCO; NYSE: CCJ) is continuing its operations at its northern Saskatchewan sites amidst wildfires that are impacting parts of the province.
Currently, there are no fires in the vicinity of Cameco's operations at Cigar Lake, Key Lake, McArthur River and Rabbit Lake. There is no risk to our sites, and they remain safe for staff. Orano's McClean Lake mill remains operational.
We are managing some temporary disruptions due to wildfires impacting power and communication services to our operations. Road closures have also impeded some deliveries to sites.
Most importantly, Cameco has many employees who are from northern communities threatened by wildfires or under evacuation orders. We are accommodating their requests to leave site to tend to family and provide aid to their home communities.
As our sites continue to operate, the safety of our staff is our top priority. We are taking measures to minimize the impact of the disruptions, including making operational adjustments as we manage the availability of employees. At this time, our annual production target remains unchanged.
Caution about forward-looking information
This news release includes statements and information about our expectations for the future, which we refer to as forward-looking information. Forward-looking information is based on our current views, which can change significantly, and actual results and events may be significantly different from what we currently expect. Examples of forward-looking information in this news release include: the proximity of wildfires to Cameco's operations; risks of wildfires to our sites and the safety of our staff; temporary disruptions to power, communications systems and roads due to wildfires; accommodation of employee requests to leave site to tend to family and provide aid to their home communities; operational adjustments; and annual production targets. Material risks that could lead to different results include: spread of wildfires to the vicinity of our operations; increased disruptions to power, communication services and road access due to wildfires; increased employee requests to leave site due to wildfires; the risk that we may not be able to achieve planned production levels within the expected timeframes, or that the costs involved in doing so exceed our expectations; risks related to JV Inkai's development or production, including the risk that JV Inkai is unable to transport and deliver its production; and the risks to our business associated with potential production disruptions, including those related to wildfires, global supply chain disruptions, global economic uncertainty, political volatility, labour relations issues, and operating risks. In presenting the forward-looking information, we have made material assumptions which may prove incorrect about: the spread of wildfires; our production, purchases, sales, deliveries and costs; the market conditions and other factors upon which we have based our future plans and forecasts; Inkai production and, our allocation of planned production and timing of deliveries; the success of our plans and strategies, including planned production; the absence of new and adverse government regulations, policies or decisions; that there will not be any significant adverse consequences to our business resulting from production disruptions, including those relating to wildfires, supply disruptions, economic or political uncertainty and volatility, labour relation issues, aging infrastructure, and operating risks. Please also review the discussion in our 2024 annual MD&A and most recent annual information form for other material risks that could cause actual results to differ significantly from our current expectations, and other material assumptions we have made. Forward-looking information is designed to help you understand management's current views of our near-term and longer-term prospects, and it may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to power a secure energy future. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations, as well as significant investments across the nuclear fuel cycle, including ownership interests in Westinghouse Electric Company and Global Laser Enrichment. Utilities around the world rely on Cameco to provide global nuclear fuel solutions for the generation of safe, reliable, carbon-free nuclear power. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan, Canada.
As used in this news release, the terms we, us, our, the Company and Cameco mean Cameco Corporation and its subsidiaries unless otherwise indicated.
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Investor inquiries
Cory Kos
306-716-6782
cory_kos@cameco.com
Media inquiries
Veronica Baker
306-385-5541
veronica_baker@cameco.com
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GoviEx Uranium Appoints Experienced Project Metallurgist as It Advances Muntanga Uranium Project
- Seasoned metallurgist with heap leach and uranium experience to lead process plant development
- Hiring supports potential lenders' due-diligence process and transition from design to operations
GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx" or "the Company") is pleased to announce that it has appointed Mr. Deogratias M. Bukunkwe as Project Commissioning Metallurgist to further advance the development of its Muntanga uranium project in Zambia (the "Muntanga Project").
Mr. Bukunkwe, a Zambian national, brings more than 25 years of process start-up and operations experience, including senior start up roles at Kayelekera and Langer Heinrich uranium mines, leading the Operational Readiness at DRA Minopex, and most recently serving as Commissioning Manager on Freeport-McMoRan's Grasberg Gold and Copper Cleaner Concentrator in Indonesia.
His immediate focus will be to build the detailed pre-commissioning framework that positions the Muntanga Project as "project-ready" for lender due-diligence. Mr. Bukunkwe will also be responsible for commissioning and management of the processing plant when it starts production, which the Company anticipates could be in 2028, subject to project financing.
Daniel Major, Chief Executive Officer, said:
"We are continuing to advance the Muntanga Project towards its next development phase. As we transition from feasibility to project financing, bolstering our technical team is crucial. Deogratias' track record of preparing, comissioning and ramping up uranium plants strengthens our execution capability and helps to assure potential banking partners of our ability to execute safely and on schedule."
Mr. Bukunkwe commented:
"Working on the Muntanga Project in my home country is an incredible opportunity. My career has focused on guiding plants to production, and I plan to use that experience to ensure a safe and high-performing project that benefits all stakeholders. I also look forward to collaborating with prospective lenders as we design and validate a robust pre-commissioning programme to advance the Muntanga Project's development."
About GoviEx Uranium Inc.
GoviEx (TSXV: GXU) (OTCQB: GVXXF), is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its mine-permitted Muntanga Project in Zambia.
Contact Information
Isabel Vilela, Head of Corporate Communications
Daniel Major, Chief Executive Officer
Tel: +1-604-681-5529 Email: info@goviex.com Web: www.goviex.com
Cautionary Statement Regarding Forward-Looking Information
This news release may contain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information. Forward-looking statements include those in relation to: (i) the Muntanga Project's transition from feasibility towards development and finally production; (ii) the method and timing of any development and mining operations at the Muntanga Project, including the anticipated start of uranium production target of 2028; and (iii) if and when the Muntanga Project will be "project-ready" for lender due-diligence; . Although GoviEx believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that GoviEx will successfully raise required financing for the Muntanga Project; (ii) that the current uranium upcycle will continue and expand; (iii) that the integration of nuclear power into power grids worldwide will continue as a clean energy alternative; and (iv) that the price of uranium will remain sufficiently high and the costs of advancing GoviEx's mining projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner. Factors that could cause actual results to differ materially from expectations include: (i) the inability of the Company to raise financing for its Muntanga Project for any reason; (ii) a regression in the uranium market price; (iv) an inability or unwillingness to include or increase nuclear power generation by major markets; (v) potential delays due to new or ongoing health or environmental restrictions; (vi) the failure of GoviEx's projects, for technical, logistical, labour-relations, political, or other reasons; (vii) a decrease in the price of uranium below what is necessary to sustain GoviEx's operations; (viii) an increase in GoviEx's operating costs above what is necessary to sustain its operations; (ix) accidents, labour disputes, or the materialization of similar risks; (x) a deterioration in capital market conditions that prevents GoviEx from raising the funds it requires on a timely basis; (xi) political instability in the jurisdictions where GoviEx operates; and (xii) generally, GoviEx's inability to develop and implement a successful business plan for any reason. In addition, the factors described or referred to in the section entitled "Risk Factors" in the MD&A for the year ended December 31, 2024, as well as the Annual Information Form for the year ended December 31, 2024, of GoviEx, which are available on the SEDAR+ website at www.sedarplus.ca, should be reviewed in conjunction with the information found in this news release. Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.
Cautionary Note to United States Persons:
The disclosure contained herein does not constitute an offer to sell or the solicitation of an offer to buy securities of GoviEx.
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those referenced above collectively as "forward-looking statements" under the "Cautionary Statement Regarding Forward-Looking Information" involve known and unknown risks, uncertainties and other factors which may cause the actual results, the performance or achievements of GoviEx to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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Purepoint Announces Amendment of Omnibus Equity Incentive Compensation Plan
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) (the "Company") announced that its proposed amendment to its Omnibus Equity Incentive Compensation Plan (the "Omnibus Plan") was approved by the Company's shareholders at its annual and special meeting of shareholders held on May 28, 2025. The amendment increased the number of common shares of the Company reserved for grant of restricted share units ("RSUs") and performance share units ("PSUs") under the Omnibus Plan from 3,688,894 to 6,426,776, representing 10% of the issued and outstanding shares of the Company as of today. The amended Omnibus Plan includes a 10% "rolling" option plan and a fixed plan permitting 6,426,776 common shares of the Company to be reserved for grant of RSUs and PSUs. Please refer to the Company's management information circular dated April 16, 2025, which is available under the Company's profile at www.sedarplus.ca for a copy and a summary of the amended Omnibus Plan.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising volcanogenic massive sulphide (VMS) project currently optioned to Foran Mining Corporation that is geologically on trend with its McIlvenna Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.
For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca
For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.
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