IsoEnergy and Purepoint Announce 2025 Plans for Joint Venture

IsoEnergy and Purepoint Announce 2025 Plans for Joint Venture

IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) ("IsoEnergy") and Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") are pleased to announce the commencement of their 2025 exploration program, supported by a $5,000,000 budget for the newly formed 5050 joint venture ("Joint Venture").

The Joint Venture spans over 98,000 hectares and consolidates 10 high-valued uranium projects into three distinctive areas in Saskatchewan's eastern Athabasca Basin: the Dorado Project, the Aurora Project and the Celeste Block (Figure 1).

Dorado Project: Unlocking the Potential of the Larocque Trend

  • Positioned along the renowned Larocque conductive corridor (the "Larocque Trend"), home to IsoEnergy's Hurricane Deposit, the Dorado Project consolidates Turnor Lake, Geiger, Edge and most of Full Moon into a single high-priority exploration initiative (Figure 2).

  • Exploration will focus on the high-priority target zones defined by graphitic conductors that wrap around a central granitic dome. A unified approach will integrate and re-evaluate all historical geophysical work and drill hole geology across the properties.

  • The Larocque Trend extends across the Turnor Lake property to the northern boundary of Full Moon, located 14 kilometers east of the Hurricane Deposit. Drilling has revealed a shallow vertical depth to the unconformity, ranging from just 27 to 133 metres and several highly prospective yet untested zones remain. Additionally at Geiger, historical drilling intersected high-grade basement-hosted uranium mineralization, including 2.74% U₃O₈ over 1.2 metres in drill hole HL-50 along the H11 South conductor (See press release dated January 25, 2018). Geiger is characterized by 20 kilometers of graphitic conductors, with significant untested gaps of up to 1,000 metres, presenting exceptional exploration potential.

  • Approximately 5,400 metres in 18 drill holes are planned for 2025.

Aurora Project: Shallow Uranium Targets Along the Athabasca Basin's Edge

  • The remaining claims east of Dorado now make up the Aurora Project, including, part of Full Moon, Red Willow, and Collins Bay Extension, presenting significant near-surface uranium potential in proximity to McClean Lake mine, and Rabbit Lake mine and mill.

  • An airborne geophysical survey is planned for 2025.

Celeste Block: Preparing Southern Targets for Exploration

  • Incorporates Thorburn, North Thorburn, Madison and 2Z properties, which cover portions of conductor trends east of the Cigar Lake Mine and southwest of the Rabbit Lake and McClean Lake mines (Figure 1). Target depth is relatively shallow as sandstone thickness ranges between 60 metres at Madison in the east to 350 metres at Thorburn in the west.

  • Near-term efforts will focus on drill testing recent geophysical results at Madison where sandstone cover is thin, and limited historical drilling has been completed, with just one hole drilled since 1989.

  • Approximately 800 metres in 4 drill holes are planned for 2025.

"The 2025 Joint Venture program underscores our focus on advancing Dorado within the Larocque Trend, an area of exceptional potential," said Chris Frostad, President and CEO of Purepoint. "While Dorado is the centerpiece of this coming year's efforts, we are also performing critical work on the Aurora and Celeste Block projects to ensure these promising targets remain ready for future exploration. Purepoint is excited to execute on the program as the operator, with IsoEnergy's oversight providing valuable guidance and expertise."

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Figure 1: IsoEnergy and Purepoint Uranium Joint Venture including, Dorado Project, Aurora Project and Celeste Block

* See Qualified Person Statement below. 

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Figure 2: Location of the Larocque Trend which hosts the high-grade Hurricane deposit and high-grade uranium occurrences on the newly formed Dorado Project, the primary focus of 2025.

* See Qualified Person Statement below.

To view an enhanced version of this graphic, please visit:
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Qualified Person Statement

The scientific and technical information contained in this news release relating to IsoEnergy was reviewed and approved by Dr. Dan Brisbin, P.Geo., IsoEnergy's Vice President, Exploration, who is a "Qualified Person" (as defined in NI 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")).

For additional information with respect to the current mineral resource estimate for IsoEnergy's Hurricane Deposit, please refer to the Technical Report prepared in accordance with NI 43-101 entitled "Technical Report on the Larocque East Project, Northern Saskatchewan, Canada" dated August 4, 2022, available under IsoEnergy's profile at www.sedarplus.ca.

This news release refers to properties other than those in which IsoEnergy and Purepoint have an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Joint Venture properties.

About IsoEnergy Ltd.

IsoEnergy (TSX: ISO) (OTCQX: ISENF) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource.

IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

About Purepoint Uranium Group Inc.

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 VHMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Corporation's McIlvena 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 further information, please contact:

IsoEnergy Ltd.
Philip Williams, CEO and Director
(833) 572-2333
info@isoenergy.ca
www.isoenergy.ca

Purepoint Uranium Group Inc.

Chris Frostad, President and CEO
(416) 603-8368
cfrostad@purepoint.ca
www.purepoint.ca

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.

Disclosure regarding forward-looking statements

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". This forward-looking information may relate to planned exploration activities for 2025, including the timing thereof and the anticipated results thereof; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, that planned exploration activities are completed as anticipated; the anticipated costs of planned exploration activities, the price of uranium; that general business and economic conditions will not change in a materially adverse manner; 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 Joint Venture's planned activities will be available on reasonable terms and in a timely manner. Although each of IsoEnergy and Purepoint have attempted to identify important factors that could cause actual results to differ materially from those contained in 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 such information 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 information.

Such statements represent the current views of IsoEnergy and Purepoint with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy and Purepoint, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include but are not limited to the following: the inability of the Joint Venture to complete the exploration activities as currently contemplated; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, the United States and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the risk factors in each of IsoEnergy's and Purepoint's most recent annual management's discussion and analyses or annual information forms and IsoEnergy's and Purepoint's other filings with the Canadian securities regulators which are available, respectively, on each company's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy and Purepoint do not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238119

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The joint venture establishes an initial ownership structure of 60% by IsoEnergy and 40% by Purepoint, with the option to adjust to a 50/50 split through the exercise of put/call options (the "Put/Call Option") pursuant to which 10% of IsoEnergy's initial participation interest may be transferred to Purepoint in exchange for 4,000,000 common shares of Purepoint (the "PTU Shares"). The Put/Call Option is exercisable within six months of the Joint Venture's formation, with the exercise of one option resulting in the expiry of the other. Following completion of the Put/Call Option period, IsoEnergy will hold a further option to purchase an additional 1% interest from Purepoint for $2 million, giving IsoEnergy a 51% participation interest and Purepoint a 49% participation interest. This option expires on the earlier of February 28, 2026, or 60 days after a material uranium discovery. The ownership interests of each company are subject to standard dilution, with any participation interest that is reduced to 10% or less being automatically exchanged for a 2% net smelter royalty (NSR) on the Joint Venture properties.

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Scott Frostad, Vice President of Exploration at Purepoint, noted, "The airborne geophysical results have refined our existing targets and highlighted new prospective areas, thereby enhancing the project's potential for hosting uranium mineralization. Russell South is favourably situated along the Athabasca Basin's southeast edge, and we've scheduled an airborne tri-axial magnetic survey this Spring to better locate primary structures within our priority target areas for drill testing."

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Alvopetro Announces January 2025 Sales Volumes, Quarterly Natural Gas Pricing, an Operational Update and a Strategic Entry into the Western Canadian Sedimentary Basin

Alvopetro Announces January 2025 Sales Volumes, Quarterly Natural Gas Pricing, an Operational Update and a Strategic Entry into the Western Canadian Sedimentary Basin

Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces January 2025 sales volumes of 2,457 boepd, including natural gas sales of 13.8 MMcfpd, associated natural gas liquids sales from condensate of 141 bopd and oil sales of 18 bopd, based on field estimates. This represents a 41% increase from Q4 2024.

Natural gas, NGLs and crude oil sales:

Quarterly Natural Gas Price Update

As announced on December 17, 2024 , our updated long-term gas sales agreement came into effect on January 1, 2025 increasing Alvopetro's contracted firm volumes starting January 1, 2025 by 33% up to 400 e 3 m 3 /d. The updated natural gas pricing model is recalculated quarterly based on Brent oil equivalent prices and Henry Hub natural gas prices resulting in quicker adjustments for commodity price and foreign exchange rate fluctuations. Effective February 1, 2025 , our natural gas price under our long-term gas sales agreement with Bahiagás has been adjusted to BRL1.95 /m 3 , a 6.5% increase from the January 2025 price of BRL1.83 and consistent with the Q4 2024 price of BRL1.94 /m 3 . All natural gas sales from February 1, 2025 to April 30, 2025 will be sold at BRL1.95 /m 3 ( $10.55 /Mcf, based on average heat content to date, the January 31, 2025 BRL/USD exchange rate of 5.83, net of expected sales taxes applicable).

Operational Update

In the fourth quarter we attempted an optimization project on our 183-B1 well on Block 183 which was originally drilled and tested in 2022. The plan included sidetracking from the existing wellbore and re-entering the Sergi Formation horizontally. Unfortunately, we encountered challenges during the project that resulted in the loss of the bottom hole assembly and the abandonment of the operation with costs totalling approximately $4.0 million .

On our Murucututu field, based off the successful recompletion of our 183-A3 well in the third quarter we plan to spud 183-D4 location this week. The 183-D4 location is targeting the Caruaçu Member approximately 110 metres up-dip of the 183-A3 location. This location also has an uphole exploratory target in the Marfin Formation. We expect to announce results from the 183-D4 well near the end of the first quarter.

Following this Murucututu well, we plan to drill and complete five development wells at our Caburé Unit as part of the agreed development plan with our partner. During the month of January, we also completed the commissioning phase of our recently installed compression system at Caburé increasing our productive capacity from the Unit.

Strategic Entry into Western Canadian Growth Opportunity

Alvopetro has been pursuing additional growth opportunities to complement our existing asset base to continue our disciplined capital allocation model where we look to reinvest approximately half our cash flow into organic growth and return the other half to stakeholders. The Western Canadian Sedimentary Basin (" WCSB ") offers high-quality assets with large resources in place with access to a high-quality service industry, and leading-edge technology deployment. With our past experiences and our headquarters in Calgary , we are well positioned to create a complementary growth platform with the opportunity to deliver attractive returns for shareholders.

Initial Focus Area - Mannville Heavy Oil Fairway

The Mannville multi-zone heavy oil fairway targets the Colony, McLaren, Waseca , Sparky, GP, Rex, Lloydminster , and Cummings formations containing a large amount of original oil in place and providing attractive economics through the application of multilateral drilling and other technologies.

Farmin – Partner with Proven Track Record

Alvopetro is partnering with Durham Creek Energy Ltd., an established operator with a proven track record. Alvopetro has agreed to fund 100% of two earning wells at an estimated total cost of C$4.5 million in exchange for a 50% working interest in 19.13 sections (12,243 acres) of land in western Saskatchewan . With success, the land position could support upwards of 100 development drilling locations.

President & CEO, Corey C. Ruttan commented:

"Alvopetro's strong financial position and cash flows from operations help position the Company to maximize shareholder returns from our combined asset base. With exposure to projects in Brazil and now also in Canada , it allows us to allocate capital across a growing inventory of high rate of return opportunities and to continue our disciplined capital allocation model."

Corporate Presentation

Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .

Social   Media

Follow Alvopetro on our social media channels at the following links:
Twitter - https://twitter.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
YouTube - https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w

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 news release.

All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

Abbreviations:

boepd

=

barrels of oil equivalent ("boe") per day

bopd

=

barrels of oil and/or natural gas liquids (condensate) per day

C$

=

Canadian dollar

e 3 m 3 /d

=

thousand cubic metre per day

m 3

=

cubic metre

m 3 /d

=

cubic metre per day

Mcf

=

thousand cubic feet

Mcfpd

=

thousand cubic feet per day

MMcfpd

=

million cubic feet per day

NGLs

=

natural gas liquids

BOE Disclosure . The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

Contracted firm volumes .   The 2025 contracted daily firm natural gas volumes of 400 e 3 m 3 /d (before any provisions for take or pay allowances) represents contracted volumes based on contract referenced natural gas heating value. Note that Alvopetro's reported natural gas sales volumes are prior to any adjustments for heating value of Alvopetro natural gas. Alvopetro's natural gas is approximately 7.8%   higher than the contract reference heating value. Therefore, to satisfy the contractual firm deliveries Alvopetro would be required to deliver approximately 371e 3 m 3 /d (13.1MMcfpd).

Forward-Looking Statements and Cautionary Language. This news release contains "forward-looking information" within the meaning of applicable securities laws. The use of any of   the words "will", "expect", "intend" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking information concerning future production and sales volumes, the expected natural gas price and expected sales volumes under the Company's long-term gas sales agreement, and future capital plans and potential development opportunities associated with the WCSB farmin.   Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material.   Forward   -looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to,   expectations and assumptions concerning   forecasted demand for oil and natural gas,   the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations regarding Alvopetro's working interest and the outcome of any redeterminations, the outcome of any disputes, the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulation relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, general economic and business conditions, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, the regulatory and legal environment and other risks associated with oil and gas operations   .   The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our annual information form which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF

SOURCE Alvopetro Energy Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/February2025/05/c0962.html

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Forum Energy Metals and Global Uranium Commence Exploration at the Northwest Athabasca Project, Saskatchewan

Forum Energy Metals and Global Uranium Commence Exploration at the Northwest Athabasca Project, Saskatchewan

Mobilization underway for a drill program on the Northwest Athabasca Project in Saskatchewan's Athabasca Basin

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (the "Company" or "Forum") and Global Uranium Corp. (CSE: GURN) (OTCQB: GURFF) (FSE: Q3J) ("Global") are pleased to announce that the exploration permit has been received and exploration is underway on the Northwest Athabasca (NWA) Project, located along the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figure 1). Global entered into an option agreement with Forum, acquiring the right to purchase up to 75% of Forum's interest in the Forum NexGen Joint Venture with NexGen Energy Ltd. by spending $20 million in exploration. This joint venture is part of the Northwest Athabasca Joint Venture with Forum, Cameco Corporation, and Orano Canada Inc. to explore and develop the NWA Project. Camp construction will begin shortly and diamond drilling will commence by March. Forum Energy Metals is the Operator of the Northwest Athabasca Project.

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Forum Energy Metals and Global Uranium Announce Exploration Update on Drill Targeting, Northwest Athabasca Project, Saskatchewan

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Reprocessing of historical EM data has added greater targeting certainty and will help augment a planned winter 2025 drill program on the Northwest Athabasca Project in Saskatchewan's Athabasca Basin

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (the "Company" or "Forum") and Global Uranium Corp. (CSE: GURN) (OTC: GURFF) (FSE: Q3J) ("Global") are pleased to announce the completion of data compilation and reprocessing of historical EM geophysical surveys to optimize the upcoming drill program on the Northwest Athabasca (NWA) Project, located on the northwest shore of Lake Athabasca in Saskatchewan, Canada (Figure 1). Global has an option to earn 51% interest in Forum's interest in the NWA Project by spending up to $9M over four years (see News Release dated May 30, 2024). Diamond drilling and geophysical surveys are planned this winter, pending the completion of ongoing community engagement and final government approvals. Forum Energy Metals is the Operator of the Northwest Athabasca Project.

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Nuclear Fuels Announces the Discovery of New Mineralized Zones at the Kaycee Uranium Project

Nuclear Fuels Announces the Discovery of New Mineralized Zones at the Kaycee Uranium Project

CSE:NF
OTCQX:NFUNF

Nuclear Fuels Inc. (CSE: NF) (OTCQX: NFUNF) ("Nuclear Fuels" or the "Company") announced today the discovery of two new zones of roll front-hosted uranium mineralization at the Kaycee In-Situ Recovery ("ISR") Uranium Project (the "Project") in Wyoming's Powder River Basin ("PRB"). Drill testing of regional targets on the Project encountered mineralization at the newly discovered Outpost and Trail Dust Zones, including 0.082% eU 3 O 8 (uranium) over 6.5 feet for a total hole Grade Thickness ("GT") of 0.532. In the PRB, potentially ISR-recoverable uranium mineralization with a GT of greater than 0.20 is considered suitable for inclusion in a potential wellfield. Follow up delineation drilling of these two new zones is planned for May 2025 . In addition, Nuclear Fuels announces the Company has been added to the Sprott Junior Uranium Miners ETF.

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