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November 01, 2023
North Shore Uranium Ltd. (formerly Clover Leaf Capital Corp.) (TSXV:CLVR.P) (the "Company") is pleased to announce that, further to its news releases of December 23, 2022, June 30, 2023, August 18, 2023, and September 22, 2023, it has closed its "Qualifying Transaction" (the "Transaction") with North Shore Energy Metals Ltd. ("North Shore"). Concurrently with closing, the Company changed its name from "Clover Leaf Capital Corp." to "North Shore Uranium Ltd." (the "Name Change").
In connection with the completion of the Transaction, the Company's common shares are expected to recommence trading on the TSX Venture Exchange (the "Exchange") under the symbol "NSU" at the open of the market on or about November 2, 2023. Upon recommencement of trading, the Company will have 36,805,960 common shares outstanding. Following the Name Change, the new CUSIP and ISIN numbers for the Company's common shares are 66240L104 and CA66240L1040, respectively.
Following the Transaction, the near-term business objectives of the Company are to become a major force in the exploration for economic uranium deposits at the eastern margin of Saskatchewan's Athabasca Basin, a good jurisdiction for discovering new mineable high-grade uranium deposits. The Company will work to achieve those objectives by conducting exploration programs on its two properties, the Falcon Property and the West Bear Property, and evaluating opportunities to increase its portfolio of properties in the region.
Directors and Officers
In connection with the closing of the Transaction, the directors and officers of the Company are now:
- Brooke Clements - President, Chief Executive Officer, VP Exploration, and Director
- James Arthur - Director
- Doris Meyer - Director
- Jimmy Thom - Director
- Dan O'Brien - Chief Financial Officer
- Ben Meyer - Corporate Secretary
Concurrent Financing
On October 26, 2023, as a condition to the completion of the Transaction, North Shore closed a private placement financing (the "Concurrent Financing") pursuant to which it raised aggregate gross proceeds of $2,329,268.80 through the issuance of 7,530,660 non-flow-through subscription receipts (each, a "NFT Subscription Receipt") at a price of $0.30 per NFT Subscription Receipt, and 200,000 flow-through subscription receipts (each, a "FT Subscription Receipt", together with the NFT Subscription Receipts, the "Subscription Receipts") at a price of $0.35 per FT Subscription Receipt. The Subscription Receipts were issued pursuant to a subscription receipt agreement ("Subscription Receipt Agreement") entered into by North Shore and Odyssey Trust Company (the "Subscription Receipt Agent"), as both subscription receipt agent and escrow agent. All gross proceeds from the Concurrent Financing that were paid to North Shore as of the closing (the "Concurrent Financing Closing") of the Concurrent Financing (less any proceeds used by North Shore to pay cash finder's fees) (the "Escrowed Funds") were deposited into escrow with the Subscription Receipt Agent pursuant to the terms of the Subscription Receipt Agreement. Immediately prior to the closing of the Transaction, each Subscription Receipt was automatically converted into one common share of North Shore (each, a "North Shore Share"), and on closing of the Transaction, each North Shore Share was exchanged for one common share of the Company (a "Resulting Issuer Share") pursuant to the terms of the share exchange agreement dated December 19, 2022, as amended on March 31, 2023, June 30, 2023, and August 18, 2023, entered into among the Company, North Shore, and the shareholders of North Shore. North Shore also paid aggregate cash finder's fees of $64,704.90 and issued 210,014 finder's warrants (each a "North Shore Finder's Warrant") to certain arm's length finders in connection with the Concurrent Financing. Each North Shore Finder's Warrant was exchanged in connection with the Transaction for a finder's warrant of the Company (a "Resulting Issuer Finder's Warrant"), and each Resulting Issuer Finder's Warrant is exercisable to acquire one common share of the Company (each, a "Resulting Issuer Finder's Warrant Share") at a price of $0.30 per Resulting Issuer Finder's Warrant Share for a period of 24 months from the date of the Concurrent Financing Closing.
Mr. Brooke Clements, who was appointed as the President, Chief Executive Officer, VP Exploration, and a director of the Company today, subscribed for 80,000 NFT Subscription Receipts for proceeds of $24,000, representing approximately 1.03% of the gross proceeds of the Concurrent Financing. Mr. James Arthur, who was appointed as a director of the Company today, subscribed for 33,334 NFT Subscription Receipts for gross proceeds of $10,000.20, representing approximately 0.43% of the gross proceeds of the Concurrent Financing. Mr. James Thom, who was appointed as a director of the Company today, subscribed for 58,000 NFT Subscription Receipts for gross proceeds of $17,400, representing approximately 0.74% of the gross proceeds of the Concurrent Financing. None of the proceeds from the Concurrent Financing are allocated to pay compensation to or settle indebtedness owing to principals of the Company. The participation in the Concurrent Financing by Messrs. Clements, Arthur and Thom constitute related party transactions pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the participation of the related parties in the Concurrent Financing in reliance on the exemptions contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively.
Share Issuance to Skyharbour Resources Ltd.
In connection with the closing of the Transaction, the Company is pleased to announce that it also issued 500,000 Resulting Issuer Shares (the "Skyharbour Shares") to Skyharbour Resources Ltd. ("Skyharbour") pursuant to an option agreement dated May 29, 2023, as amended on August 28, 2023 (the "South Falcon Option Agreement"), among North Shore and Skyharbour. The issuance of the Skyharbour Shares partially comprises the first payment to Skyharbour under the South Falcon Option Agreement in order to be able to exercise the option to acquire a 100% undivided interest in 11 claims that form approximately 77 percent of the Falcon Property. For more information on the South Falcon Option Agreement and the issuance of the Skyharbour Shares, please see the Company's amended and restated filing statement dated September 21, 2023, which is available on the Company's SEDAR+ profile at www.sedarplus.ca.
Final acceptance of the Transaction, including the Concurrent Financing and the issuance of the Skyharbour Shares, by the Exchange is subject to the Company filing all final documentation.
ON BEHALF OF THE BOARD
Brooke Clements
President, Chief Executive Officer, VP Exploration, and Director
For further information:
North Shore Uranium Ltd., please contact Ben Meyer, Corporate Secretary
Telephone: 604.536.2711
Email: ben@gocs.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's current plans and business objectives. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such forward‑looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: assumptions regarding future uranium prices, debt and equity financing market conditions, receipt of regulatory approvals, and other factors. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on its behalf. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward- looking statement, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.
09 June
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09 June
Aura Energy Plans Swedish Uranium Collaboration as Country Makes Progress on Lifting Ban
Aura Energy (ASX:AEE) is planning to enter into a strategic collaboration agreement with Neu Horizon Uranium following discussions on overturning the uranium-mining ban in Sweden.
Executives from Aura recently visited Stockholm, where they spoke productively with members of the country's governing coalition about the benefits of lifting the uranium-mining moratorium.
The ban traces back to 2018, when Sweden changed its environmental code to prioritise renewable energy; the government also wanted to reduce reliance on foreign uranium and strengthen domestic and European energy supply.
“Aura welcomes the clear direction of government policy in removing the ban and the strong commitment shown by politicians to attract investment into the country’s mining industry,” Aura said in a June 2 statement.
Discussions about abolishing the ban heightened in December 2024, when a government inquiry concluded that uranium must be classified as a concession mineral under the Minerals Act. According to Aura, the Swedish governing coalition has already expressed its support for overturning the ban, with a referral process underway.
With this progress, Aura is making strategic moves toward advancing its uranium efforts in Sweden.
"Our collaboration with New Horizon Uranium positions us to capitalize on the country’s exceptional geological endowment and support its uranium ambitions,” shared Aura Energy Chair Phil Mitchell.
Through the arrangement, Aura will invest AU$100,000 for a minority stake in Neu Horizon. The agreement also covers collaborations on key initiatives, including joint participation in an investor symposium in Stockholm this year.
Centred in the deal is Aura's Häggån deposit in the province of Jämtland in Central Sweden. Aura says it is one of the largest underdeveloped uranium resources globally, holding 800 million pounds of contained uranium oxide.
For its part, Neu Horizon holds three high-potential uranium projects: the Villhelmina shale-hosted uranium project, the Ravenberget shear-hosted uranium project and the Gillberget shear-hosted uranium project.
“Our collaboration with Aura Energy is a strategic step towards unlocking Sweden’s uranium potential. Sweden holds large quantities of uranium resources, and this collaboration will facilitate progress in regulatory engagement and technical advancements, aligning with (the country’s) vision for energy security,” said Neu Horizon Chair Martin Holland.
Neu Horizon plans to apply modern exploration methods to advance its Swedish assets. While the company remains unlisted, it intends to debut on the ASX sometime in late 2025 or early 2026.
A parliamentary vote is expected on the abolishment of Sweden's uranium ban later this year.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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05 June
Argentina’s Strategic Advantage as a New Frontier for Uranium Exploration
Argentina is emerging as one of the most compelling new frontiers for uranium supply, with the country’s National Atomic Energy Commission estimating about 80,000 tonnes of uranium as "exploration targets" across various geological environments. It offers a unique combination of geological potential, government support and existing nuclear infrastructure — all within a jurisdiction that is eager to expand its domestic resource base.
Global demand for uranium has increased in recent years, bolstered by renewed investment in nuclear energy and efforts to secure supply chains. Argentina’s pro-nuclear-energy stance and local technical expertise offer a promising new alternative for uranium exploration, as global demand for this critical mineral continues to soar.
A reawakening global uranium market
The nuclear sector is regaining traction after a decade-long lull following the Fukushima disaster. Governments are increasingly recognizing nuclear energy as a reliable, low-carbon power source essential for meeting net-zero goals. This has led to a global buildout of nuclear capacity: according to the World Nuclear Association, more than 440 reactors are operational today, with dozens more expected to come online over the next two decades.
Compounding this growth is a push for energy independence. The geopolitical fallout from the Russia-Ukraine conflict and rising tensions with China have led to a re-evaluation of critical mineral supply chains. Uranium, once sourced heavily from Russian and Kazakhstan operations, is now being sought from more stable, western-aligned jurisdictions. This is fueling investor interest in underexplored regions that offer both geological promise and geopolitical stability.
Argentina’s uranium opportunity
Unlike traditional uranium-producing nations, Argentina has provincial jurisdictions that offer a unique combination of geological potential, government support and existing nuclear infrastructure — all within a federal jurisdiction eager to expand its domestic resource base.
Argentina is one of the few countries in the Global South with an established civilian nuclear program. Although there is currently no domestic uranium production, the country operates three nuclear power plants which supply about 5 percent of the country’s electricity. The country is also developing new reactors, including the CAREM small modular reactor project, the first of its kind in Latin America. As energy security and decarbonization gain urgency, Argentina’s government has reaffirmed its commitment to expanding nuclear power as a reliable baseload energy source.
To meet this growing demand, Argentina has made domestic uranium production a strategic priority. Historically reliant on imports, the country is now encouraging exploration and development to secure its own supply. This is creating fertile ground for uranium juniors who can help the country achieve nuclear independence.
Argentina’s uranium geology shares many similarities with prolific producing regions globally. In particular, the Neuquén Basin, a large sedimentary basin in Central-Western Argentina, hosts uranium mineralization styles similar to those found in Kazakhstan’s vast deposits. Surficial and sandstone-hosted uranium mineralization in this region offers shallow, low-grade, high-tonnage potential, which is ideal for low-cost, environmentally friendly extraction methods like in-situ recovery and open-pit mining followed by leaching.
Argentina's uranium-rich basins, such as those in Rio Negro, Chubut and Salta provinces, remain largely underexplored, giving early movers a significant first-mover advantage in identifying new discoveries and developing scalable projects.
Investment considerations
From an investment perspective, Argentina is rapidly becoming more competitive.
While some provinces still maintain a moratorium on uranium mining, others like Rio Negro Province, home to Blue Sky Uranium's (TSXV:BSK,OTCQB:BKUCF) Amarillo Grande project, have explicitly opened the door to uranium development, aligning with national goals to boost self sufficiency.
The key to long-term value for investors evaluating junior uranium companies lies in a combination of jurisdictional quality, project scalability and strategic alignment with national energy priorities.
A strong uranium junior benefits from operating in a stable, mining-friendly jurisdiction with clear regulatory frameworks, established infrastructure and political support for resource development. These conditions not only reduce permitting risk but also help streamline project advancement from exploration to production.
Equally important is the nature of the deposit. Shallow, near-surface mineralization is often easier and more cost-effective to develop. Juniors with deposits of this kind are more likely to attract interest from strategic partners or acquirers due to their lower capital intensity and faster development timelines. Investors should also consider whether the company has a district-scale land position, as this can significantly enhance the upside potential beyond a single discovery.
Finally, a company’s alignment with national or regional energy strategies can be a powerful advantage. Governments seeking to secure domestic uranium supply, particularly in countries expanding their nuclear energy capacity, are more likely to support companies that help fulfill those objectives. Juniors operating in such environments may benefit from faster permitting, stronger stakeholder engagement and even direct institutional interest.
Blue Sky Uranium: Unlocking a uranium district in Argentina
Vancouver-based Blue Sky Uranium is not just exploring for uranium in Argentina; it’s pioneering the advancement of what could become a new, world-class uranium district in the southern hemisphere.
The company’s flagship Amarillo Grande project is the most advanced uranium exploration initiative in Argentina and one of the most significant in South America. The project spans more than 145 kilometers of continuous prospective trend in the Neuquén Basin. It comprises three main properties — Ivana, Anit and Santa Barbara — all of which demonstrate significant uranium potential and remain underexplored relative to their scale.
The Ivana deposit alone hosts an indicated mineral resource of 19.7 million metric tons of uranium at a grade of 333 parts per million (ppm) with 105 ppm vanadium, and an inferred resource of 5.6 million metric tons of uranium at a grade of 262 ppm with 109 ppm vanadium. It boasts a robust preliminary economic assessment (as of February 2024) that outlines a base-case pre-tax net present value (8 percent) of US$227.7 million, along with an internal rate of return of 38.9 percent at a uranium price of US$75 per pound of U3O8.
Blue Sky is now focused on advancing the Ivana deposit through a joint venture with Abatare Spain (COAM), taking the project from exploration through feasibility and potentially into production.
Under the terms of the earn-in agreement, COAM will fund up to US$35 million to earn a 49.9 percent equity interest in the joint venture company, Ivana Minerales, and can earn up to 80 percent ownership by completing a feasibility study and contributing up to US$160 million to develop and construct the project.
This level of financial backing and technical commitment is rare among junior uranium developers and significantly de-risks the project. COAM’s parent, Corporación América, operates across energy, transportation, infrastructure and technology sectors, and brings deep local knowledge and government connectivity.
As part of the Grosso Group with a long-standing presence in Argentina, Blue Sky has the advantage in navigating regulatory and social environments. Combined with the technical and financial support of its joint venture partner, the company is uniquely positioned to help unlock Argentina’s uranium potential at a time when global supply diversification is more critical than ever.
Key takeaways
Amid an accelerating global push for cleaner energy and secure supply chains, Argentina offers a unique opportunity for investors seeking exposure to the uranium renaissance. Its established nuclear energy infrastructure, prospective geology and government-backed development roadmap make it a jurisdiction to watch.
For investors looking to navigate the shifting dynamics of the uranium market, Argentina represents a jurisdiction worth serious consideration. Companies with shallow, scalable projects in mining-friendly provinces, and that align with national energy priorities are likely to have a strategic advantage as the global supply chain continues to evolve.
This INNspired article is sponsored by Blue Sky Uranium (TSXV:BSK,OTCQB:BKUCF). This INNspired article provides information which was sourced by the Investing News Network (INN) and approved by Blue Sky Uraniumin order to help investors learn more about the company. Blue Sky Uranium is a client of INN. The company’s campaign fees pay for INN to create and update this INNspired article.
This INNspired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Blue Sky Uranium and seek advice from a qualified investment advisor.
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05 June
Justin Huhn: Uranium Game On — Supply "Mirage," De-risked Demand, Next Price Move
Justin Huhn, editor and founder of Uranium Insider, talks uranium supply, demand and prices.
He emphasized that it's still "very early" in the cycle and that at this point no further catalysts are needed.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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04 June
High Gold Price Sparks Renewed Interest in Queensland Gold Region, Report Says
AuKing Mining (ASX:AKN) has been cited in a news report as among two Australian companies well-placed to take advantage of rising gold prices and the re-emergence of historic gold mines in Queensland.
An article from ABC Australia noted record-high global gold prices are revitalizing the gold mining industry in outback Queensland, particularly in the Cloncurry region. Once a bustling mining area, Cloncurry experienced a decline in the 1990s due to falling gold prices. However, the current surge has prompted renewed interest in both exploration and the reopening of historical mines.
In particular, the Ernest Henry Copper-Gold Mine, a significant site in the region, is estimated to contain 2 million ounces of gold. The Cloncurry Gold Project, encompassing multiple mines over 400 square kilometers, is also poised to benefit from the current boom.
“Orion Resources and AuKing Mining Limited plan to re-lease 20 historic gold mines in the region, bringing them back to life under the banner of the Cloncurry Gold Project,” the article stated.
AuKing Mining’s managing director Paul Williams told ABC Australia the “great gold price environment” and access to significant data from previous work done in the area create an advantageous position for both Orion and AuKing capitalize on the current trend.
Read the full article here.Keep reading...Show less
03 June
Blue Sky Uranium Forges Ahead with Ivana Project Through Strategic COAM Joint Venture
Blue Sky Uranium (TSXV:BSK,OTCQB:BSURF,FWB:MAL2) is making significant strides in advancing its flagship Ivana uranium-vanadium project in Argentina. In a recent interview, President and CEO Nikolaos Cacos detailed the company's newly formed joint venture with Abatare Spain (COAM), a strategic partnership poised to accelerate the project toward production.
Cacos highlighted the establishment of a new joint venture company, Ivana Minerales, formed with COAM to drive the Ivana deposit forward. This collaboration represents a pivotal moment for Blue Sky, as COAM is committed to funding cumulative expenditures of US$35 million to acquire a 49.9 percent indirect equity interest in the deposit. Furthermore, COAM holds the option to increase its stake to 80 percent by completing a feasibility study and fully funding the project's costs.
“As far as our long-term objectives go, it achieves the first long-term objective of creating a pathway to take it right through to production, and allows us now to begin to look at and focus on our other 100 percent owned projects that we have … coming up with a second uranium discovery,” Cacos explained.
The Blue Sky chief executive also touched upon the broader economic landscape in Argentina, noting the positive impact of new government policies aimed at attracting foreign investment and fostering economic growth.
“Argentina is becoming a very favorable business destination,” he said. “And by virtue of the fact that we're already there — we already are known to the government, we're known in the industry — it gives us a leg up in knowing how to operate there.”
Watch the full interview with Nicolaos Cacos, president and CEO of Blue Sky Uranium, above.
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