The Conversation (0)
GTI Energy Ltd (GTI or Company) is pleased to update the uranium Mineral Resource Estimate (MRE) at its Lo Herma Project (Lo Herma or the Project) located in Wyoming’s Powder River Basin (Figure 1). The MRE for the Project is focused on mining by In-Situ Recovery (ISR) methods and is reported at an appropriate cut-off grade of 200 ppm U3O8 and a minimum grade thickness (GT) of 0.2 per mineralised horizon as:
6.21 million tonnes of total mineralisation at average grade of 630 ppm eU3O8 for 8.57 million pounds (Mlbs) of eU3O8 contained metal classified as 2.78Mlbs of Indicated (32%) and 5.79Mlbs of Inferred.
Highlights
- Lo Herma Mineral Resource Estimate increased 50% to 8.57Mlbs eU3O8 incl. 2.78Mlbs Indicated (32%) & 5.79Mlbs Inferred
- Lo Herma Exploration Target increased from recent drilling and new staking
- Lo Herma Scoping Study commenced - targeting completion in 1st half of 2025
- GTI’s combined Wyoming uranium resources increased to 10.23Mlbs
The Lo Herma Exploration Target Range (ETR) for Lo Herma is also updated & increased (Table 1), since first reported to ASX on 05/07/2023, and now stands at a range of between 5.59 to 7.10 million tonnes at a grade range of 500 ppm to 700 ppm U3O8. GTI’s combined uranium MRE across its Wyoming projects, including the Great Divide Basin, is now 10.32Mlbs with an additional exploration target (Table 6).
The potential quantity and grade of Exploration Targets is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant Mineral Resource Estimate. It is uncertain if further exploration will result in the estimation of a MRE in the defined exploration target areas. In addition to drilling conducted in 2024, Exploration Targets have been estimated based on historical drill maps, drill hole data, aerial geophysics (reported during 2023) and drilling by GTI conducted during 2023 to verify the historical drilling information. There are now 954 drill holes in the Lo Herma project area with the 2023 and 2024 drill programs conducted by GTI designed, in part, to test the Lo Herma Exploration Target.
“We are delighted with the major uplift in Lo Herma’s uranium resource, now 50% larger at 8.57Mlbs. This important milestone positions Lo Herma favourably in size against Ur-Energy’s nearby 8.8Mlb Shirley Basin ISR build, and Encore Energy’s 8.1Mlb Gas Hills ISR project (refer Schedule 1). Importantly, over 30% of Lo Herma’s resource is lifted into Indicated classification with an expanded Exploration Target pointing the way to even greater potential for growth. Given Lo Herma's proximity to several major ISR production facilities within 60 miles, we believe this project has strong potential to transition into production. Our immediate focus is completing a Scoping Study in the first half of 2025. This material resource upgrade plus the significant exploration target confirms our belief that 8.57Mlbs is just the starting point for Lo Herma.” Bruce Lane, Executive Director, GTi Energy.
FIGURE 1. WYOMING IS URANIUM PROCESSING ASSETS & GTI PROJECT LOCATIONS
LO HERMA URANIUM PROJECT – LOCATION & BACKGROUND
The Lo Herma ISR Uranium Project is located in Converse County, Powder River Basin (PRB), Wyoming. The Project lies approximately 15 miles north of the town of Glenrock and within ~60 miles of six (6) permitted ISR uranium production assets. These assets include UEC’s Willow Creek (Irigaray & Christensen Ranch) & Reno Creek ISR plants, Cameco’s Smith Ranch-Highland ISR facilities, Energy Fuels Nichols Ranch ISR plant & Ur-Energy’s Shirley Basin (Figure 1).
The Powder River Basin region has extensive ISR uranium production history with numerous defined ISR uranium resources, central processing plants (CPPs) and satellite deposits (Figure 1). The Powder River Basin region has been the backbone of Wyoming uranium production since the 1970s.
As reported to ASX on 14/03/2023, GTI acquired a comprehensive historical data package, with an estimated replacement value of over A$15m, for the Lo Herma region. The data package included original data for circa 1,771 drill holes for ~530,00 feet (~162,000m) of drilling in the Lo Herma region.
The original drill data was used to prepare an inferred MRE and an ETR for Lo Herma using the original exploration results. Subsequently GTI conducted a 26-hole exploration drill program in the winter of 2023 followed by a 73-hole resource development drill program in the summer of 2024, the results of which were previously reported on 20/12/2023, 31/07/24, 12/09/2024 & 19/09/2024 and support the updated MRE and ETR for Lo Herma shown in Table 1.
TABLE 1: SUMMARY OF LO HERMA RESOURCES & ETR (REFER TABLES 2 & 3)
The potential quantity and grade of Exploration Targets is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant MRE. It is uncertain if further exploration will result in the estimation of a MRE in the defined exploration target areas. In addition to drilling conducted in 2024, Exploration Targets have been estimated based on historical drill maps, drill hole data, aerial geophysics (reported during 2023) and drilling by GTI conducted during 2023 to verify the historical drilling information. There are now 954 drill holes in the Lo Herma project area with drill programs conducted by GTI during 2023 and 2024 designed, in part, to test the Lo Herma Exploration Target.
LO HERMA MINERAL RESOURCE ESTIMATE (MRE) UPDATE
The updated Lo Herma MRE, in accordance with the JORC Code (2012), is presented in Table 2:
TABLE 2: LO HERMA UPDATED MINERAL RESOURCE ESTIMATE
The MRE has been calculated by applying a cutoff grade of 200 ppm eU3O8 and a grade thickness (GT) cutoff of 0.2 GT. All available exploration data was evaluated using roll-front mapping techniques and modelled using GT contour methodology. GT contour modelling is widely accepted and used within the uranium industry for modelling roll-front style deposits. A range of criteria has been considered in determining resource classification including data quality, geologic continuity, and drill hole spacing which is discussed in Appendix 1, JORC code Table 1 report.
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GTI Energy
Investor Insight
GTI Energy presents an intriguing opportunity for investors seeking exposure to the uranium sector, given its focus on ISR projects in the US aligning well with macro trends in the nuclear energy industry and geopolitical shifts favouring domestic uranium production.
Overview
GTI Energy (ASX:GTR,OTCQB:GTRIF) is an Australia-based uranium exploration and development company focused on uranium projects in Wyoming, USA, that are amenable for in-situ recovery (ISR). In uranium mining, ISR is the lowest cost and least environmentally damaging form of uranium recovery, especially when an alkaline leach and ion exchange processes are utilised.
The company's flagship Lo Herma project in the Powder River Basin is a sandstone-hosted roll front uranium deposit, which contains a recently updated mineral resource of 8.57 million pounds (Mlbs) of U3O8 at average grade of 630 parts per million (JORC code compliant) with a substantial additional exploration target in the range 6 to 11 Mlbs. GTI also holds projects in the Great Divide Basin (inferred resources of 1.66 Mlbs) and Green Mountain areas of Wyoming, as well as earlier-stage conventional uranium/vanadium assets in Utah. To date, GTI has delineated total combined uranium resources of 10.32 Mlbs (indicated and inferred) and substantial combined exploration targets in the range 12 to 20 Mlbs across its Wyoming projects.
Wyoming’s ISR uranium processing assets and GTI project locations
GTI is positioning itself to take advantage of the worsening uranium supply deficit and rapidly growing demand for uranium, particularly from the United States. The US is currently the world's largest consumer of uranium but currently imports more than 95 percent of its supply. The company's strategy centres on developing low-cost ISR uranium projects in Wyoming, a historically significant uranium producing region with existing infrastructure and a supportive regulatory environment.
The uranium market is experiencing a serious supply deficit and a simultaneous significant demand resurgence driven by several factors:
- Supply constraints due to years of underinvestment in new uranium projects and an overreliance on foreign nuclear fuel supply, particularly from Russia & Kazakhstan.
- Rapidly growing global demand for electricity and clean energy with increasing recognition of nuclear power's role in achieving climate goals.
- Geopolitical tensions leading to an east/west bifurcated uranium market leading to a need for secure domestic uranium supplies, particularly in the US which has banned Russian nuclear fuel imports.
- Technological advancements and significant policy support for nuclear power plant re-starts, gigawatt scale new builds and next-generation nuclear reactors including SMR’s.
In the United States specifically, there is strong bipartisan support for revitalizing the domestic uranium industry. Recent initiatives include the creation of a strategic uranium reserve, US$6 billion in grants for existing nuclear plants, and tax credits for new nuclear facilities under the Inflation Reduction Act. The Department of Energy has also advocated for tripling US nuclear capacity to 300 gigawatts by 2050, which would significantly increase uranium demand. Support for nuclear energy is now underpinned by COP28/29 DOE pledges, demand from data centre companies and 14 of the world’s largest banks.
In the longer term, GTI recognizes the potential benefits of consolidation within the fragmented US uranium sector. The company remains open to strategic partnerships, joint ventures, or even merger and acquisition opportunities that could create a more substantial production base. Such moves could potentially accelerate GTI's path to production, create operational synergies, or provide access to additional high-quality assets, enhancing the company's overall value proposition to investors.
Company Highlights
- GTI Energy is focused on ISR-amenable uranium projects in Wyoming, USA.
- The flagship Lo Herma project in the Powder River Basin contains a recently updated mineral resource of 8.57 Mlbs of U3O8 at average grade of 630 ppm.
- GTI also holds projects in the Great Divide Basin and Green Mountain areas in Wyoming, and earlier-stage uranium-vanadium assets in Utah.
- To date, GTI has delineated total combined uranium resources of 10.32 Mlbs (indicated and inferred) and substantial combined exploration targets in the range 12 to 20 Mlbs across its Wyoming projects.
- Wyoming is a historically significant uranium producing region with existing infrastructure and a supportive regulatory environment.
- GTI is well-placed to take advantage of the worsening uranium supply deficit and rapidly growing demand for uranium, particularly from the United States, the world’s largest consumer of uranium.
Key Projects
Wyoming Uranium Projects
GTI's focus on Wyoming ISR projects positions it well to capitalize on trends in the uranium sector. ISR mining is generally faster to build, lower cost and more environmentally friendly than conventional mining methods. Wyoming has a long history of uranium production and hosts current producers and several more additional permitted processing facilities, potentially allowing for rapid development of new projects.
The potential quantity and grade of Exploration Targets is conceptual in nature and there has been insufficient exploration to estimate a JORC-compliant MRE. It is uncertain if further exploration will result in the estimation of a MRE in the defined exploration target areas. In addition to drilling conducted in 2024, Exploration Targets have been estimated based on historical drill maps, drill hole data, aerial geophysics (as reported during 2023) and drilling by GTI conducted during 2023 to verify the historical drilling information. There are now 954 drill holes in the Lo Herma project area with the drill programs conducted by GTI during 2023 and 2024 designed, in part, to test the Lo Herma Exploration Target.
The Wyoming projects – comprising the Lo Herma, Great Divide Basin and Green Mountain projects – are located in the Powder River and Great Divide Basins.
Lo Herma
The company’s exploration work is currently prioritizing resource development at Lo Herma, where recent drilling has successfully verified the historical Lo Herma drill hole database.
The Lo Herma project, located just 10 miles from Cameco's Smith Ranch-Highland facility (the largest ISR uranium plant in the US), appears particularly promising. Recent drilling results have confirmed and expanded known mineralization, with the potential to significantly increase the resource base.
The company is undertaking an accelerated program at Lo Herma with the primary objective of expanding its resource base. This ongoing initiative aims to grow the known mineralization both along trend and at depth. GTI is exploring in both the Wasatch formation and the deeper Fort Union formation, which both hold the potential to add significant additional mineralization to the project's resource inventory.
Concurrent with resource expansion, GTI is taking crucial steps to de-risk the Lo Herma project. The company is in the process of completing hydrogeologic and water monitoring wells, which are essential for understanding the project's hydrogeology and planning future production scenarios. Furthermore, GTI has collected core samples for metallurgical testing, a critical step in optimizing the ISR process and demonstrating the project's economic viability.
Looking ahead, GTI has set ambitious targets for advancing Lo Herma through key development milestones, including a potential scoping study in 2025. Positive results from these studies could serve as significant catalysts for the company, potentially leading to a material re-rating of the stock as the project's economic potential becomes clearer.
Great Divide Basin and Green Mountain
The company continues to advance its other Wyoming projects, including those in the Great Divide Basin and Green Mountain areas. Exploration at Green Mountain can commence in 2025 now that the necessary permits are in place, providing potential for additional resource growth and diversification of the company's asset base. Permits are also in place for future drilling at the company’s Great Divide Basin and Utah projects.
The Great Divide Basin project consists of the Thor, Logray, Loki, Odin, Teebo, Wicket and Green Mountain claims. The approximately 13,000-hectare group of projects is prospective for ISR-amenable sandstone-hosted roll-front uranium. The Wyoming projects are situated 5 to 30 kilometers from Ur-Energy’s Lost Creek ISR plant. The projects are also located near Rio Tinto’s Sweetwater/Kennecott Mill.
GTI Energy’s landholding in the Great Divide Basin was bolstered by the acquisition of the Green Mountain project comprising 5,585 hectares of contiguous ISR uranium exploration claims which abuts the Rio Tinto claims at Green Mountain. Historical drill data and geophysics confirm the presence of major uranium mineralisation at the projects.
Green Mountain lies immediately adjacent to the Great Divide Basin project and adjacent to Energy Fuel’s 30 Mlb Sheep Mountain, Ur-Energy’s Lost Soldier, Rio Tinto’s Jackpot & UEC’s Antelope deposits. Green Mountain contains a number of uranium mineralised roll fronts hosted in the fertile Battle Springs formation.
Utah
Henry Mountains Uranium Project
Exploration at Henry Mountains has focused on approximately 5 kms of mineralised trend that extends between the Rat Nest & Jeffrey claim groups and includes the Section 36 state lease block. Uranium and vanadium mineralisation in this location is generally shallow at 20 to 30 meters average depth. The region forms part of the prolific Colorado Plateau uranium province which historically provided the most important uranium resources in the USA. Sandstone-hosted ores have been mined in the region since 1904 and the mining region has historically produced in excess of 17.5 Mt @ 2,400 ppm U3O8 (92 Mlbs U3O8) and 12,500 ppm V2O5 (482 Mlbs V2O5).
Management Team
Bruce Lane - Executive Director
Bruce Lane has significant experience with ASX-listed and large industrial companies. Lane has held management positions in many global blue-chip companies as well as resource companies and startups in New Zealand, Europe and Australia. He holds a master’s degree from London Business School and is a graduate member of the Australian Institute of Company Directors. Lane has led a number of successful acquisitions, fund raising and exploration programs of uranium and other minerals projects during the last 20 years, most notably with ASX listed companies Atom Energy, Stonehenge Metals and Fenix Resources (FEX).
Matt Hartmann - Director
ISR uranium specialist Matt Hartmann is an executive and technical leader with more than 20 years of international experience and substantial uranium exploration and project development experience. He first entered the uranium mining space in 2005 and followed a career path that has included senior technical roles with Strathmore Minerals and Uranium Resources. He is also a former principal consultant at SRK Consulting where he provided advisory services to explorers, producers and prospective uranium investors. Hartmann’s ISR uranium experience has brought him through the entire cycle of the business, from exploration, project studies and development, to production and well field reclamation. He has provided technical and managerial expertise to a large number of uranium ISR projects across the US including, Smith Ranch – Highland ISR Uranium Mine (Cameco), Rosita ISR Uranium Central Processing Plant and Wellfield (currently held by enCore Energy), the Churchrock ISR Uranium project (currently held by Laramide Resources), and the Dewey-Burdock ISR Uranium project (currently held by enCore Energy).
Simon Williamson - Non-executive Director
Simon Williamson was general manager and director of Cameco Australia until late 2023 and has significant uranium industry experience, networks and skills from his 13 years at Cameco. During his tenure with Cameco, Williamson managed relations with key government ministers and departments and community stakeholders. He managed project approvals processes, including negotiations with State and Federal agencies and reviewing the PFS for the Yeelirrie project.
Williamson was intimately involved in obtaining environmental approval for the Kintyre and Yeelirrie uranium projects, including developing and implementing a program of environmental baseline studies, government and community consultation and negotiating land access. Prior to his appointment as general manager, he led the government and regulatory affairs, environmental and radiation safety activities of Cameco in Australia.
James (Jim) Baughman - Executive Director
James Baughman is a highly experienced Wyoming uranium geologist and corporate executive who will help guide the company’s technical and commercial activities in the US. Baughman is the former president and CEO of High Plains Uranium (sold for US$55 million in 2006 to Uranium One) and Cyclone Uranium.
Baughman has more than 30 years of experience advancing minerals projects from grassroots to advanced stage. He has held senior positions (i.e., chief geologist, chairman, president, acting CFO, COO) in private and publicly traded mining & mineral exploration companies during his 30-year career.
He is a registered member of the Society of Mining, Metallurgy, Exploration and a member of the Society of Economic Geologists with a BSc in geology (1983 University of Wyoming) and is a registered professional geologist (P. Geo State of Wyoming). Baughman is a registered member of the Society of Mining, Metallurgy, and Exploration (SME) and a qualified person (QP) on the Toronto Stock Exchange (TSX) and Australian Stock Exchange (ASX).
Petar Tomasevic - Non-executive Director
Petar Tomasevic is the managing director of Vert Capital, a financial services company specializing in mineral acquisition and asset implementation. He has worked with several ASX-listed companies in marketing and investor relations roles. Tomasevic is fluent in five languages. He is currently appointed as a French and Balkans language specialist to assist in project evaluation for ASX-listed junior explorers. Most recently, he was a director at Fenix Resources (ASX:FEX), which is now moving into the production phase. He was involved in the company’s restructuring when it was known as Emergent Resources. Tomasevic was also involved in the company’s Iron Ridge asset acquisition, the RTO financing, and the development phase of Fenix’s Iron Ridge project.
Disrupting the uranium supply chain through highly prospective ISR projects in Wyoming
IsoEnergy and Purepoint Confirm Uranium Discovery in Initial Drilling at the Dorado Joint Venture Project
IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) ("IsoEnergy") and Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") are pleased to announce a highly encouraging start to the inaugural drill program at their 50/50 Dorado project ("Dorado" or the "Project"), located in Saskatchewan's world-class Athabasca Basin (Figure 1). Initial drilling at the Q48 target on the Project, completed by Purepoint as the operator of the program, intersected uranium mineralization in two holes, with downhole gamma probe readings up to 79,800 counts per second (CPS). The intercepts occur within strongly altered basement rocks – suggesting an active uranium-bearing hydrothermal system.
Highlights
- Initial drillholes at the Q48 target, located in the southern portion of the Project, have intersected uranium mineralization, confirming the zone as a significant uranium-bearing structure. (Figure 2).
- Drillholes PG25-04 and PG25-05 intersected a steeply dipping, north-south trending mineralized structure at vertical depths of 60 and 20 metres below the unconformity, respectively.
- Radioactivity readings from downhole probe measurements averaged 11,050 cps over 3.7 metres with a maximum of 74,800 in PG25-04, and 27,750 over 2.3 metres with a maximum of 79,800 in PG25-05 (See Table 1 for full details).
- Mineralization is hosted within strongly clay-altered basement rocks—considered key indicators of a uranium-bearing hydrothermal system consistent with known Athabasca-style deposits.
- Q48 was originally highlighted as a high-priority target based on historic drilling that encountered structurally disrupted, altered basement rocks with weak radioactivity, and further confirmed in 2022 by IsoEnergy's identification of brittle faults, shearing, and alteration along the conductive trend.
- A third follow-up hole is underway to further track the mineralized structure along the Q48 conductive corridor to the northeast. Approximately 5,400 metres in 18 drill holes are planned for the Project in 2025.
"This is exactly the kind of start we were aiming for. These early results suggest we're on the trail of something meaningful," said Chris Frostad, President and CEO at Purepoint. "These initial hits speak to the quality of the target and the systematic approach our team is taking to uncover its potential. We're moving quickly to follow up on these encouraging results as drilling continues."
Philip Williams, CEO and Director of IsoEnergy commented, "Our JV project was created to focus exploration where we see real discovery potential. This exploration success reinforces the strength of our partnership with Purepoint. By combining deep Basin experience with a focused, well-funded program, we believe we've positioned Dorado for continued success through a disciplined exploration effort. It's exciting to see that approach already delivering promising results."
DDHs PG25-04 and PG25-05
Drill hole PG25-04 targeted the Q48 conductor (Figure 1) approximately 800 metres northwest of IsoEnergy's 2022 drilling (Figure 2). The drill hole was collared with a dip of -60 degrees and encountered Athabasca sandstone to a depth of 321 metres. Clay altered granitic gneiss and pegmatites were drilled to 393 metres then garnet-rich pelitic gneiss, with local pyrite and graphite, was drilled to the completion depth of 489 metres. The reddish-brown altered radioactive gouge seams were hosted by a chloritized pegmatite (Figure 3) and returned an average of 64,220 cps over 0.4 metres (Table 1).
Hole PG25-05 was collared using the same azimuth as PG25-04 and intercepted the radioactive structure approximately 40 metres up-dip of that hole. The hole encountered the unconformity at 309 metres, clay altered granitic gneiss and pegmatites to 371 metres, then garnet-rich pelitic gneiss, locally with pyrite and graphite, to the completion depth of 498 metres. The central mineralized structure was hosted in a sheared / brecciated reddish-brown altered granitic gneiss (Figure 4) and returned an average of 75,660 cps over 0.4 metres.
Table 1: Downhole Gamma Results of Drill Holes PG25-04 and PG25-05
| Hole ID | From (m) | To (m) | Length (m) | Avg. cps | Max. cps |
| PG25-04 | 248.7 | 249.4 | 0.7 | 660 | 1,010 |
| 366.0 | 367.0 | 1.0 | 690 | 810 | |
| 374.5 | 275.4 | 0.9 | 810 | 1,050 | |
| 383.7 | 387.4 | 3.7 | 11,050 | 74,800 | |
| Includes | 384.7 | 385.1 | 0.4 | 64,220 | |
| PG25-05 | 296.7 | 297.7 | 1.0 | 790 | 960 |
| 325.0 | 327.3 | 2.3 | 27,750 | 79,800 | |
| Includes | 326.1 | 326.5 | 0.4 | 75,660 | |
| 328.8 | 329.8 | 1.0 | 730 | 1,000 | |
| 395.8 | 396.3 | 0.5 | 1,770 | 2,680 |
Note: Mt. Sopris 2PGA probe used to record downhole gamma readings
Q48 Zone
The Q48 zone lies within the southern portion of the Project and is characterized by a steeply dipping, north-south trending conductive package identified through geophysical surveys. Historic drilling in the area intersected strongly altered and structurally disrupted rocks at the unconformity and in the basement, including garnetiferous pelitic gneiss, graphitic pelitic gneiss, and semipelite, with local weak radioactivity and zones of intense clay alteration. These results, combined with the geophysical response, highlighted Q48 as a highly prospective but underexplored target.
Drilling by IsoEnergy in 2022 confirmed that the conductive trend at Q48 hosts structure, shearing, and alteration, characteristics of uranium-bearing hydrothermal systems in the Athabasca Basin. The current program is designed to systematically follow-up and fully test the Q48 conductive corridor.
Figure 1: Location of the Larocque Trend, host to the high-grade Hurricane deposit and multiple high-grade uranium occurrences within the newly formed Project. The Q48 Target Area, priority focus for the 2025 drill program is highlighted.
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Figure 2: Location Map of 2025 Drill Program at Q48 Target Area
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Figure 3: PG25-04 Mineralization
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Figure 4: PG25-05 Mineralization
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About the Dorado Project
Dorado is the flagship project of the IsoEnergy-Purepoint 50/50 joint venture, a partnership encompassing more than 98,000 hectares of prime uranium exploration ground. The Project includes the former Turnor Lake, Geiger, Edge, and Full Moon properties, all underlain by graphite-bearing lithologies and fault structures favorable for uranium deposition.
Recent drilling by IsoEnergy east of the Hurricane Deposit has intersected strongly elevated radioactivity in multiple holes. The anomalous radioactivity confirms the continuity of fertile graphitic rock package and further highlights the opportunity for additional high-grade discoveries across the region.
The shallow unconformity depths across the Dorado property-typically between 30 and 300 metres-allow for highly efficient drilling and rapid follow-up on results.
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Gamma Logging and Geochemical Assaying
A Mount Sopris 2PGA-1000 downhole total gamma probe was utilized for radiometric surveying. The total gamma results provided in Table 1 were selected using a cutoff of 500 cps over a 0.5 metre width. All drill intercepts are core width and true thickness is yet to be determined.
Core samples are submitted to the Saskatchewan Research Council (SRC) Geoanalytical Laboratories in Saskatoon. The SRC facility is ISO/IEC 17025:2005 accredited by the Standards Council of Canada (scope of accreditation #537). The samples are analyzed for a multi-element suite using partial and total digestion inductively coupled plasma methods, for boron by Na2O2 fusion, and for uranium by fluorimetry.
Qualified Person Statement
The scientific and technical information contained in this news release relating to IsoEnergy and Purepoint was reviewed and approved by Dr. Dan Brisbin, P.Geo., IsoEnergy's Vice President, Exploration and Scott Frostad BSc, MASc, P.Geo., Purepoint's Vice President, Exploration, who are "Qualified Persons" (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 (NYSE American: ISOU) (TSX: ISO) 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
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. Highly prospective uranium 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 VMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Mining Corporation's 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:
IsoEnergy Ltd.
Philip Williams, CEO and Director
(833) 572-2333
info@isoenergy.ca
www.isoenergy.ca
Purepoint Uranium Group Inc.
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@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.
Cautionary Statement Regarding Forward-Looking Information
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 additional 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; uncertainty of additional financing; no known mineral resources or reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of technical work programs and technical and economic assessments being different than anticipated; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions. 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.
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