Vancouver, Canada, January 19, 2022 CanAlaska Uranium Ltd. (TSX-V: CVV; OTCQB: CVVUF; Frankfurt: DH7N) ("CanAlaska" or the "Company") is pleased to announce it has entered into Purchase Option Agreements ("POA") with Terra Uranium Limited ("Terra"), an Australian public limited corporation, and Terra's wholly-owned Canadian subsidiary Terra Uranium Canada Limited, to allow Terra to earn up to an 80% interest in CanAlaska's 100%-owned Waterbury East and McTavish projects. These projects total 4,202.21 hectares in the Eastern Athabasca Basin in Saskatchewan, Canada (the "Projects") (Figure 1). Read More >>
CanAlaska Uranium
Overview
CanAlaska Uranium (TSXV:CVV,OTCQB:CVVUF) is a Canadian exploration company developing a portfolio of high-grade uranium and nickel projects located across the country. The company follows a project generator model, with properties in both the Athabasca and the Thompson Nickel Belt region.
CanAlaska Uranium collectively holds one of the largest land positions in the Athabasca Basin with approximately 1.2 million acres in land claims. In total, the company holds 12 uranium projects. The company’s strategic investments have attracted the interest of major mining companies including Cameco (TSX:CCO,NYSE:CCJ), Denison (TSX:DML,NYSE:DNN). Prior activities have been with KORES, KEPCO, Mitsubishi and De Beers.
CanAlaska Uranium’s flagship West McArthur project is a joint venture in partnership with Cameco, with CanAlaska serving as operator. Results from the 2019 drill program at West McArthur returned 0.70 meters at 6.8 percent U3O8 within 2.1 meters averaging 2.3 percent U3O8. This drilling extended earlier 5 percent U3O8 drill intersections, and confirmed an extensive mineralizing event. The 2019 results contained high-grade uranium as well as base metal mineralization, similar in character to the nearby high-grade Fox Lake uranium deposit.
In May 2020 CanAlaska Uranium announced the company had staked a further 29,671 hectares of land in four large blocks northeast of the Athabasca Basin. While the project areas lie outside the current boundaries of the Basin, the sandstone remnants described in the Pinkham Lake area reflect an extension of Athabasca mineralization.
CanAlaska Uranium has also entered into an option agreement with Fjordland Exploration (TSXV:FEX) giving the company an opportunity to earn 80 percent interest in CanAlaska’s North Thompson Nickel project. According to the agreement, Fjordland has an opportunity to earn an 80 percent interest in the North Thompson Nickel Project by contributing exploration expenditures of $9M, 8.5M common Fjordland Exploration shares and other considerations.
Company Highlights
- Holds an extensive portfolio of uranium and nickel projects in Canada, including projects located in the Athabasca Basin and Thompson Nickel Belt
- West McArthur uranium project is under a joint venture with Cameco, with a 2019 drill program extending the high-grade uranium zone on the property
- 2019 drill results at West McArthur returned 0.70 meters @ 6.8 percent U3O8 within 2.1 meters averaging 2.3 percent U3O8
- Portfolio of resource projects have attracted the current attention of Cameco and Denison
- Partnered with Fjordland Exploration on the North Thompson Nickel Project
- CanAlaska completed its winter drilling on its wholly-owned Waterbury uranium project and intersected polymetallic mineralization. The program consisted of 1,347.5 metres of drilling in three drill holes.
- The company announced new uranium occurrences within 5 km long "cr3" structural corridor, west of Gryphon and Phoenix at the Moon Lake South JV project.
- CanAlaska staked new targets at its Chymko project, totalling 32,603 hectares, in the central Athabasca Basin located 100 km west of the Key Lake mine and mill complex.
Key Projects
CanAlaska Uranium’s West McArthur Property
The West McArthur project is located in the Athabasca Basin approximately six kilometers away from the producing McArthur River mine owned by Cameco. Between 2002 and 2012, McArthur river produced 225.5 million pounds U3O8 grading 13.5 percent U3O8 per tonne. The project was consolidated by CanAlaska Uranium in 2016, giving the company 100 percent ownership of the property following a deal with Mitsubishi Development Pty Ltd.
Under an option agreement signed with Cameco, CanAlaska Uranium conducted drilling on the West McArthur property that returned a new zone of high-grade uranium mineralization at Grid 5. In 2018, the company resumed operatorship of the West McArthur property with Cameco signed on as a 30 percent joint venture partner. Under the terms of the joint venture agreement, both CanAlaska and Cameco agreed to focus on expanding Grid 5 with a 2019 drill program.
In October of 2019, CanAlaska Uranium announced the results from its 2019 drill program in partnership with Cameco. Highlights of the drill results included 0.70 meters at 6.8 percent U3O8 within 2.1 meters averaging 2.3 percent U3O8.
CanAlaska Uranium’s Cree East Project
The Cree East uranium project is located in the southeast corner of the Athabasca Basin, approximately 35 kilometers west of Cameco’s Key Lake Mine and uranium mill. The project comprises 16 contiguous mineral claims totaling 55,935 hectares. The project is wholly-owned by CanAlaska Uranium, which has established nine target areas across the property, with the prior assistance of KEPCO and KORES.
Exploration
CanAlaska first began exploring Cree East in 2005, conducting VTEM airborne surveys across the property to determine priority targets. In 2006 the company collected over 2,000 surface rock samples and over 400 lake sediment samples, defining three large areas of dravite and clay alteration on the surface, with localized boulder samples containing anomalous uranium. CanAlaska later conducted additional IP-Resistivity and Audio Magneto Telluric geophysical surveys to further define the targets.
In 2008 CanAlaska Uranium conducted a $1.6 million exploration program at Cree East, returning strong fracturing and alteration in most drill holes with faulting in many of the drill holes as well. Geochemical enrichment of uranium and other elements was found in both the basement and sandstone.
Exploration work including additional geophysical surveys was conducted on Grid 7 at Cree East between 2009 and 2012 in order to improve the drill targets on the property. In total, 91 holes were drilled covering 34,638 meters resulting in nine target zones. All nine zones have shown indications of hydrothermal alteration or uranium mineralization.
Northeast Athabasca Targets
In May 2020 CanAlaska announced it had staked four large blocks of land just outside of the Athabasca Basin totaling 114 square miles. The staked area focused on regional structures similar to those hosting the nearby high-grade Collins Bay-Eagle Point uranium deposits.
The targets on the four land claims are basement-hosted large uranium deposits similar to those found at Eagle Point, Arrow and Millennium. CanAlaska Uranium believes the sandstone remnants described in the nearby Pinkham Lake area reflect the possibility that the area could be a continuation of the Athabasca Basin.
Thompson Nickel Properties
CanAlaska Uranium owns three properties in the Thompson Nickel Belt: Strong, Hunter and Manibridge. The Thompson Nickel Belt is home to over 18 nickel deposits. Since 1959, the region has produced an estimated 5 billion pounds of nickel.
Hunter Property
The Hunter Property is located 20 kilometers north of Thompson, Manitoba. The property consists of 11 land claims totaling 12,520 hectares and has been approved for a mineral exploration license. CanAlaska Uranium believes the property is underlain by the same series of formations that host the nickel deposits along the Thompson Nickel Belt and considers the property to be an extension of the belt. Using historical exploration data, a number of exploration targets have been defined surrounding the Mel deposit, which was first located in the 1970s.
From 2000 through 2005 CanAlaska Uranium conducted extensive UTEM and AMT surveys, resulting in a high number of drill targets. A number of these targets are expected to require follow-up work.
Strong Property
The Strong project is comprised of 6,140 hectares of land approximately 26 kilometers away from Thompson, Manitoba including one mineral exploration license. The Strong property was explored by a number of companies during the 1950s and 1970s, leading to the discovery of the Mel deposit located to the east of the Hunter property. Falconbridge and Crowflight Minerals Inc. were previously active on the Strong Property between 1998 and 2005.
CanAlaska Uranium has established significant exploration targets that have been defined on both properties based on historical data. A VTEM survey completed in 2007 provided the company with a series of targets, none of which have been drilled. Several of these targets are in the same structural position as the Mel deposit.
Manibridge Property
The Manibridge Property, acquired by CanAlaska Uranium in 2018, consists of 19 land claims totaling 4,368 hectares. The property is located 125 kilometers southwest of Thompson and is accessible by road via Highway 6. The claims held by CanAlaska Uranium also include the site of the reclaimed Manibridge Mine, which operated between 1971 and 1977 based on an initial resource of 1.4 million tonnes at an average grade of 2.25 percent nickel and 0.27 percent copper.
North Thompson Nickel Project
In May 2020 CanAlaska Uranium announced the company had entered into an option agreement with Fjordland Exploration (TSXV:FEX) giving the company an opportunity to earn 80 percent interest in CanAlaska’s North Thompson Nickel project.
Under the terms of the agreement, Fjordland has an opportunity to earn 80 percent interest in the North Thompson Nickel Project by contributing exploration expenditures of $9M, 8.5M common Fjordland Exploration shares and other considerations. The North Thompson Nickel Project consists of the Strong, Hunter and Hunter Claims for a combined total of 18,685 hectares located approximately 25 kilometers from Thompson, Manitoba.
Management Team
Ambassador Thomas Graham Jr. — Chairman of the Board, Director,
Ambassador Thomas Graham, Jr. is one of the world’s leading experts in nuclear non-proliferation. Amb. Graham has served under four successive U.S. Presidents as a senior U.S. diplomat involved in the negotiation of every major international arms control and non-proliferation agreement for the past 35 years. This includes the SALT, START, ABM, INF, NPT, CFE and CTBT Treaties. Amb. Graham has served with the U.S. Arms Control and Disarmament Agency and as the Special Representative of the President of the United States for Arms Control, Non-Proliferation, and Disarmament, in which role he successfully led U.S. government efforts to achieve the permanent extension of the Nuclear Non-Proliferation Treaty.
Cory Belyk — CEO and Executive Vice President
Cory Belyk is a professional geologist with nearly 30 years of experience working for major and junior mining companies in the Athabasca Basin and worldwide. Prior to joining CanAlaska in 2019 as Chief Operating Officer, he was Director of Exploration for Cameco’s international operations including Mongolia and Australia. Mr. Belyk was also a member of Cameco’s exploration management team during the Fox Lake and West McArthur uranium discoveries in Saskatchewan. Mr. Belyk holds a Bachelor’s (1994) degree in Geology from the University of Saskatchewan and a Certificate in Negotiation from Harvard Law School (2014). He is a registered member of the Association of Professional Engineers and Geoscientists of Saskatchewan.
Peter G. Dasler — P.Geo. President, Director
Recognizing the favorable upturn of the uranium cycle in early 2004, Mr. Dasler positioned CanAlaska Uranium (then CanAlaska Ventures Ltd.) to become a significant presence in the field of Canadian uranium exploration by staking mineral claims in the most favorable districts of Canada’s Athabasca Basin, home to the world’s largest-richest uranium mines. He has since assembled an expert geological team that has enabled CanAlaska to carry out over $50 million in exploration and advance multiple uranium projects towards discovery.
Nathan Bridge — Vice President of Exploration
Nathan Bridge has over a decade of experience managing exploration, delineation, and geotechnical drilling programs at Cameco Corporation. He was senior Geologist on Cameco’s Fox Lake discovery team that took the deposit from exploration stage, through discovery, and into resource definition. Nathan has spent the majority of his career exploring uranium and in 2017 he led the exploration program that discovered the 42 Zone on the Company’s West McArthur project.
Dr. Karl Schimann — Senior Exploration Consultant
Dr. Schimann possesses extensive experience in mineral exploration, spanning a career in exploration geology of over 30 years and across three continents. He has participated in significant discoveries for uranium and base metals and has also led various exploration and mining initiatives for gold and diamonds. Between 1977 and 1997, Dr. Schimann was employed by French uranium giant AREVA (previously COGEMA) as a Senior Geologist and Project Manager, where he was a key member of the team that undertook the discovery and development of the massive Cigar Lake uranium mine. In total, he spent twenty years with AREVA, ten of which were based in Canada’s Athabasca Basin, home to the world’s largest-richest uranium mines.
Harry Chan — Chief Financial Officer
Harry Chan has over 20 years of experience working in several different industries ranging from public practice, sports entertainment, wholesale distribution and telecommunications. He is a graduate of the University of British Columbia and received his Certified General Accountant designation in BC in 1996.
Jean Luc Roy — Director
Mr. Roy is an independent Director of the Company (2007 — present). He has over 20 years of experience in the mining industry. The majority of his experience has been in Africa for companies such as International Gold Resources, Ashanti Goldfields Inc., Senafo, and First Quantum Minerals. Mr. Roy has managed projects from exploration through to production in three different countries. As Managing Director for First Quantum Minerals, Jean Luc played a crucial role in securing extensive land positions and by successfully placing a mining operation into production in the Democratic Republic of Congo during a period of major unrest in the country. Mr. Roy is presently a resident of Burkina Faso where is COO of Ampella Mining Ltd an Australian listed company focused on gold exploration in West Africa with their flagship property Batie West.
Victor Fern — Director
Independent Director of the Company (2007-present); road maintenance supervisor for Athabasca Development Corporation (2009-present); mill training foreman and a mill process operator for Cameco Corporation; past Chief of the Fond Du Lac Denesuline First Nation (/2005–2007). Mr. Fern has lived in Fond du Lac all of his life, he is a traditional land user and still hunts and fish for food in the area. He is active in community development, and works with local committees. Mr. Fern has been involved in environmental monitoring in the Northern Athabasca area and is involved with various business interest in the Fond du Lac area.
Karen Lloyd — Director
Karen Lloyd comes from a strong and significant strategy and marketing background across five different industries including mining, telecommunications, online payments, executive training and banking. This depth of experience comes from her employment with Telus Communications, Hongkong Bank of Canada and Cameco Corporation. Between 2009 and 2020, Ms. Lloyd managed a team of contract and inventory specialists to seamlessly fulfill global uranium sales generating annual revenue of between $1.8 and $2.4 billion for Cameco Corporation as a Director in Cameco’s Marketing team. In April 2021, Ms. Lloyd joined Kreos Aviation as Chief Operating Officer where she oversees all aspects of the Kreos operations including asset management, strategic alliances, flight operations, maintenance, fuel operations, marketing and sales, and business development.
Geoff Gay — Director
Geoff Gay is currently Chief Executive Officer of Athabasca Basin Development, an Indigenous-owned investment company based in Saskatchewan. Mr. Gay has been its executive leader, and subsequent CEO, since the company’s inception nineteen years ago and was instrumental in establishing and growing the company to where it is today. As CEO, Mr. Gay is responsible to articulate the vision of the partnership with a focus on creating value for the unit holders and leading the company in long term strategic planning and implementation, evaluating new opportunities for investment, assessing and mitigating risk, and overseeing all financial aspects of the partnership. In 2017, Mr. Gay was named Business Leader of the Year by Saskatchewan Chamber of Commerce at its annual ABEX awards.
Shane Shircliff — Advisor
Shane Shircliff has over twenty years of experience in senior management and corporate director roles for both publicly traded and private companies, and has extensive experience with various publicly traded regulatory regimes. Mr. Shircliff’s breadth of expertise over his career includes negotiation, deal structure, due diligence and transacting mergers, acquisitions and divestitures totaling over one billion dollars in value. Industries of experience include logistics, finance, natural resources, exploration and mining, retail, real estate and construction. Mr. Shircliff has been directly involved with all aspects of developing resource projects encompassing lithium, uranium, gold, silver, industrial minerals, diamonds as well as oil and gas in a variety of countries. Mr. Shircliff is the founder and Chief Executive Officer of Clinworth Management Corp., a private company, which provides management, acquisition, divestiture and corporate development services to a wide range of clients.
CanAlaska Acquires Large Position NE of Patterson Lake
Over 60 Kilometres of the Prolific Patterson Lake Corridor
Highly Anomalous Lake Sediment Samples Identified
Meet Management at the Vancouver Resource Investment Conference
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce the acquisition of 28,328 hectares of new uranium claims by staking in the western Athabasca Basin. The new property is located 60 km northeast of the Triple R and Arrow uranium deposits (Figure 1). This under-explored project contains uranium lake sediment anomalies, diabase-related structures in the sandstone, and interpreted hydrothermal alteration zones. The project lies along the mineralized "Patterson Lake Corridor", host to recent high-grade uranium discoveries.
Figure 1 – Taggart Property Location Map
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Figure 2 – Taggart Property Prospective Target Corridors
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New compilation work indicates that the basement rocks of the Patterson Lake Corridor trend into the project area. Based on the airborne geophysical data, and historical reporting, the basement rocks in the area represent those of the Lloyd domain, consisting of granitic to tonalitic gneisses, with local bodies of structurally-controlled graphitic and chloritic shear zones. To the southwest, these structurally-reactivated graphitic intervals are host to the uranium mineralization at the large Arrow and Triple R deposits, that together host 472.6 million pounds of uranium resources. The Arrow Deposit contains 337.4 million pounds U3O8 in measured, indicated, and inferred categories and the Triple R Deposit contains 135.2 million pounds U3O8 in indicated and inferred categories.
Historical exploration on the property was focused on ground-based geophysical surveys, prospecting, and lake sediment geochemistry. Airborne magnetic, electromagnetic (VTEM), and radiometrics surveys were available to guide the staking of the property. The VTEM survey highlights conductive zones within the Athabasca sandstone that are interpreted to represent alteration zones potentially associated with mineralizing events. The lake sediment surveys in and around the property identified several samples with anomalous uranium, generally between 2 to 5 ppm uranium. These lake sediment values would be considered to be 5 - 10 times background values for regional lake sediment samples in the area. In addition, several samples exceeded 5 ppm uranium, including one sample containing 240 ppm uranium, which is considered to be highly anomalous.
Four historic drillholes were attempted on the property, none of which reached the unconformity. In these drillholes, structural reactivation and alteration of the sandstone is associated with the contacts of diabase dykes that trend through the area. The dyke systems show variable orientations, offset, and cross-cutting relationships. This information, combined with the documented structural reactivation, leads to an interpretation of deep-seated basement structures, which are often assocated with uranium deposition in the Athabasca region.
The Company is completing further compilation on the newly acquired Taggart project and is actively seeking Joint Venture partners.
CanAlaska CEO, Cory Belyk, comments, "This is another exciting project generated by the CanAlaska team along one of the newest uranium deposit corridors in the Athabasca Basin, already host to almost 500 million pounds of uranium. The uranium market fundamentals have never been better and continue to strengthen as the desire for carbon-free energy continues to grow. Projects such as Taggart are fantastic entry points for companies into the "Saudi Arabia of Uranium" and we look forward to working with a new partner to move this project forward."
Other News
The Company will be participating in the Vancouver Resource Investment Conference (VRIC) from May 17th - 18th, 2022. Please visit booth 435 to speak with CanAlaska representatives about our exciting project portfolio and opportunities for Joint Venture development.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska's Vice President, Exploration.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com
Neither 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 information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124249
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CanAlaska Announces Manibridge Diamond Drilling Program Intersects Nickel
Nickel-Bearing Sulphides Intersected In All Drillholes; 10,000 Metre Follow-Up Drill Program Planned for June
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce that it has successfully completed a six drill hole 2,350 m drill program on the high-grade Manibridge nickel project in the Thompson Nickel Belt, Manitoba (Table 1). The drill program was focused within one kilometre of the past-producing high-grade Manibridge Mine, that produced 1.3 million tonnes at an average grade of 2.55% nickel and 0.27% copper from 1971 to 1977 (Figure 1).
Figure 1 – Manibridge Property Location
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The drill program intersected disseminated and remobilized nickel-copper sulphide mineralization in all six drillholes (Figure 2). Occurrences of massive and net-textured sulphides were intersected in several holes and intense serpentinization alteration of the sulphide-bearing ultramafic host rocks was also noted. A handheld portable Niton XRF confirms the presence of nickel and copper within the sulphide-bearing intervals and assays are pending.
This drill program was solely funded by Metal Energy Corp. ("Metal Energy") as part of a staged earn-in option agreement with CanAlaska as operator. In future programs, operatorship of the project will be handled by Metal Energy, as per the agreement, and they are planning a 10,000 metre follow-up drill program starting in June of this year.
CanAlaska CEO, Cory Belyk, comments, "This inaugural drilling program successfully confirmed the presence of nickel mineralization and extended known zones of mineralization. The market for sulphide nickel continues to be strong and it remains the right time to move this project forward for our shareholders. It is anticipated that Metal Energy's continued exploration funding as part of the earn-in agreement will continue to drive this project toward further discovery in 2022 for the benefit of all shareholders."
Figure 2 - Winter 2022 Drill Holes Within Manibridge Mineralization Shell (Looking West)
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Table 1 - Winter 2022 Diamond Drill Hole Collar Data (UTM NAD83 Datum, Zone 14N)
| DDH | Target Area | Easting (m) | Northing (m) | Elevation (m) | Azimuth (˚North) | Dip (˚) | EOH (m) |
| MNB001 | Manibridge Mine | 511145 | 6062665 | 236 | 272 | -71.5 | 338 |
| MNB002 | Manibridge Mine | 510891 | 6062315 | 236 | 293.5 | -72.6 | 352 |
| MNB003 | Manibridge Mine | 510854 | 6062210 | 237 | 292 | -72.5 | 369 |
| MNB004 | Manibridge Mine | 510762 | 6062175 | 236 | 295 | -55.5 | 272 |
| MNB005 | Manibridge Mine | 510723 | 6062083 | 237 | 298 | -53.0 | 284 |
| MNB006 | Manibridge Mine | 510936 | 6061699 | 244 | 268 | -75.0 | 735 |
About the Manibridge Project
Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The Project is 20 kilometers southwest of Wabowden, Manitoba, which has significant infrastructure and capacity that has supported previous exploration programs, including year-round highway access via Highway 6.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska's Vice President, Exploration.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com
Neither 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 information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/122464
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CanAlaska Commences Airborne Electromagnetic Survey at Hunter Project in Thompson Nickel Belt
Company Adds to Strategic Sulphide Nickel Land Package
Focused on Tier 1 High-Grade Nickel Discovery
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce it has commenced an airborne Versatile Time Domain Electromagnetic ("VTEM") Survey on it's 100%-owned Hunter project in the Thompson Nickel Belt (Figure 1). The VTEM Survey consists of 867 line-km's of airborne surveying across the Hunter project to identify conductive targets within the Ospwagan Group metasediments which are host to the nearby world-class Thompson nickel deposits (Figure 2).
Figure 1: Hunter Project Location Map
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CanAlaska's Hunter project is located 20 km north of Thompson, Manitoba. The project is underlain by Archean rocks and Ospwagan Group metasediments with ultramafic intrusions. The project area was explored by a variety of companies from the 1950's to 1970's, which led to the discovery of the MEL deposit, located immediately to the east of the Hunter project. Modeled conductor targets along the extensions of host geological horizons that are associated with the MEL deposit trend onto the Hunter project lands. In addition, historical drill intersections on the property and in the surrounding claims have high-grade nickel sulfide mineralization associated with the Ospwagan metasediments. Extensive electromagnetic (UTEM and AMT) and magnetic surveys from 2000-2005 resulted in a number of drill targets, only some of which were drilled tested by Inco. Based on recent compilation work, the Company believes that several significant exploration targets exist on the Hunter project and the VTEM survey, which maps discrete conductive anomalies, will be used in conjunction with the compilation data to further define and prioritize drill targets. The program is being conducted by Geotech Ltd. of Aurora, Ontario and is estimated to be completed in mid- to late-May.
Figure 2: VTEM Survey Area Overlain on Geology
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Figure 3: North Thompson Nickel Belt MEL Applications
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The Company is also pleased to report that it has applied for an additional three Mineral Exploration Licenses ("MELs") totaling 25,606 ha of prospective ground to extend it's North Thompson Nickel Belt land package (Figure 3). The land application was based on a compilation of VTEM anomalies and a revised geological map that takes into account the magnetic and electromagnetic geophysical data along with the historical drilling. Historical drilling within the newly applied MELs intersected Ospwagan Group metasediments and ultramafics (Thompson Mine Sequence), which are host to many high-grade nickel deposits in the Thompson Nickel Belt. In addition, a VTEM survey completed in 2008 identified an abundance of priority anomalies and targets that were never followed up with diamond drilling. Based on this compilation work, the Company interprets the prospective geological corridor related to the Thompson Mine Sequence, outlined by the Ospwagan metasediments and ultramafics within intercalated Archean gneisses, to extend into the Wilson, Strong Extension, and Moak North, MEL application areas. Work is ongoing to develop targets for future exploration programs.
CanAlaska CEO, Cory Belyk, comments, "This airborne survey at Hunter is designed to generate drill-ready targets for future exploration programs and will complement the many drill-ready targets on CanAlaska's adjacent Strong project. The new MEL applications cover highly prospective lands for high-grade sulphide nickel discovery in the 5th largest nickel belt in the world and near to Vale's Thompson operations. These projects will provide CanAlaska shareholders with a nickel exploration portfolio second to none, purposefully designed to take advantage of a carbon-free energy future and anticipated high nickel demand. CanAlaska is actively seeking joint venture partners to help move these projects toward discovery."
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska's Vice President, Exploration.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com
Neither 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 information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121937
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CanAlaska Deals Three Uranium Properties for AUD$15M
Basin Energy to Spend AUD$5M for 60% of Two Uranium Properties and 100% in One Uranium Property
Staged Option to Earn up to 80% Interest in Geikie and North Millennium Projects, Subject to Additional AUD$10M in Spend
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce it has entered into Purchase Option Agreements ("POA") with Basin Energy Limited ("Basin Energy"), an Australian public limited corporation, to allow Basin Energy to earn up to an 80% interest in CanAlaska's 100%-owned North Millennium and Geikie projects, and a 100% interest in CanAlaska's 100%-owned Marshall project. These projects total 50,994.56 hectares in the Eastern Athabasca Basin in Saskatchewan, Canada (the "Projects") (Figure 1).
Figure 1: North Millennium, Marshall and Geikie Project Location Map
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2864/121815_892971bbb4a2a9f4_001full.jpg
North Millennium and Geikie Projects
Basin Energy may earn up to an 80% interest in each of the North Millennium and Geikie projects by undertaking work and milestone payments in three defined earn-in stages on each project.
- Basin Energy may earn an initial 40% interest ("40% Option") in each of the projects by paying the Company AUD$33,333.33 cash per project and issuing 6.66% worth of ordinary shares in Basin Energy's capital structure as at listing on the Australian Securities Exchange ("ASX") per project within 180 days following execution of a definitive Property Option Agreement ("POA"). Basin Energy will have the right to extend the 40% Option on a month-by-month basis for up to three (3) consecutive months upon payment of an option extension fee of AUD$8,333 per month per project.
- Basin Energy may earn an additional 20% interest ("60% Option") in each of the projects by incurring AUD$2,500,000 in exploration expenditures per project within 24 months of the ASX listing date.
- Basin Energy may earn an additional 20% interest ("80% Option") in each of the projects by issuing a further 2,250,000 ordinary shares in Basin Energy per project and incurring an additional AUD$5,000,000 (total: AUD$7,500,000) in exploration expenditures per project within 48 months of the ASX listing date and granting the Company a 2.75% net smelter returns ("NSR") royalty on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR per project.
- CanAlaska will be operator of the projects through the 60% Option threshold and charge an operator fee.
- Basin Energy will be obligated to keep and maintain the North Millennium and Geikie claims in good standing for a minimum period of one year at all times during the term of the POA.
After successful completion of either of the 40% Option or 60% Option stages of the agreement, and if Basin Energy elects to not enter the final stage, a joint venture will be formed and the parties will co-contribute on a simple pro-rata basis or dilute on a pre-defined straight-line dilution formula. If either party dilutes to a 10% interest, the diluting party will automatically forfeit its interest in the respective project and in lieu thereof will be granted a 2.75% net smelter returns (NSR) royalty on the respective property on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR, except that, this provision will not apply to CanAlaska if CanAlaska has already been granted the 2.75% NSR prior to diluting to a 10% interest.
Marshall Project
Basin Energy may acquire a 100% interest in the Marshall project by:
- Paying the Company AUD$33,333.33 cash and issuing 6.66% worth of ordinary shares in Basin Energy's capital structure as at listing on the ASX within 180 days following execution of a definitive POA. Basin Energy will have the right to extend the payment period on a month-by-month basis for up to three (3) consecutive months upon payment of an option extension fee of AUD$8,333 per month.
- Granting to the Company a 2.75% net smelter returns ("NSR") royalty on all products derived from the claims with a repurchase right of 0.50% NSR for AUD$500,000 at any time commencing from the grant of the 2.75% NSR.
- CanAlaska and Basin Energy will enter into an agreement (the "Marshall Project Operator Agreement"), on terms acceptable to both parties, pursuant to which Basin Energy will engage the Company to be the operator of the initial AUD$1,500,000 work program on the property after closing of the transaction. CanAlaska will be entitled to charge Basin Energy an operator fee.
An area of mutual interest will be established that extends two kilometres from the boundary of the North Millennium, Geikie and Marshall claims.
First Programs
The parties will establish a Joint Technical Operating Committee ("JTOC") under the terms of the Marshall Project Operator Agreement and the POAs relating to the North Millennium and Geikie projects to discuss exploration and development strategies, review and comment on programs and budgets submitted by CanAlaska, as the Operator under the agreements, review the progress and results of activities conducted under the current programs and to discuss other issues in respect to the properties. The final binding decision with respect to establishing programs to be carried out by the Operator (including any changes or amendments to programs) shall be made by Basin Energy. The preliminary work programs and budgets for each project will be laid out for the next 2 years. Once the 40% Option threshold has been met with respect to the North Millennium and Geikie projects, and the 100% Option has been fully exercised with respect to the Marshall project, it is anticipated the first exploration programs under the respective property agreements will be conducted in the last half of 2022.
About Basin Energy Limited
Basin Energy Limited (ACN 655 515 110) is an Australian unlisted uranium exploration and development company incorporated for the purpose of pursuing highly prospective uranium opportunities globally. Basin Energy is backed by a high-quality board and management team with extensive uranium project experience across multiple jurisdictions and a proven track record of value creation. The completion of this transaction is conditional upon Basin Energy listing on the ASX which is indicatively planned for early Q3-CY2022.
CanAlaska CEO, Cory Belyk, comments, "Completion of these definitive agreements with Basin Energy represents a very significant investment into CanAlaska's uranium portfolio providing multiple discovery opportunities for CanAlaska shareholders on several of our new and highly prospective Eastern Athabasca projects. It has been a real delight to work with the Basin Energy team to bring these projects across another critical threshold. I look forward to the first Basin Energy funded exploration programs."
Other News
The prior announced Purchase Option Agreements for the Waterbury East and McTavish projects have expired.
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska's Vice President, Exploration.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com
Neither 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 information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121815
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CanAlaska Identifies Three Priority Targets at Key Extension Project
New Gravity Targets Defined Along the Key Lake Fault Structure
Surface Samples With Up To 0.13% U
Planned Summer Work Program Includes Drilling Priority Targets
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) ("CanAlaska" or the "Company") is pleased to announce successful results from the new ground gravity geophysical survey at its Key Extension project (the "Project" - Figure 1). The survey has identified multiple gravity lows associated with interpreted structural corridors and domain boundaries in the southeast Athabasca Basin region, adjacent to the Key Lake uranium mine and milling complex.
Figure 1 – Key Extension Property Map
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2864/120990_84273c7ca4ed9908_002full.jpg
The most prominent gravity low anomaly is located at the intersection of two structural lineaments, the important boundary between the Wollaston and Mudjatik domains and the interpreted Key Lake Fault (Figure 2). A coincident historical north to northeast-trending VTEM conductor is mapped with this broad gravity low anomaly. The Key Lake fault is host to the Key Lake deposits and associated zones approximately 10 km from the northeastern project boundary. The Key Lake deposits consist of a series of southwest-northeast striking pods of unconformity associated uranium mineralization, which have historically produced over 150 million lbs U3O8 from the Gaertner and Deilmann open pits.
Two additional priority gravity anomalies are identified along strike in both directions from the main gravity anomaly associated with the interpreted Key Lake fault and the Wollaston-Mudjatik boundary location. This includes immediately to the northeast of the main anomaly where a gravity low is developed along the main Key Lake fault structure and a coincident conductor. West of this area, historical boulder and outcrop samples taken in the Orchid Lake area returned up to 0.13% U in weakly to strongly altered pegmatite boulders, some of which contained graphite (Figure 2). In addition, in the southwestern part of the survey area, where the Key Lake fault is interpreted to exist parallel to the Wollaston-Mudjatik boundary, a significant gravity low has been identified. This series of gravity low anomalies running through the project area associated with conductors and fault structures generate multiple high-priority target areas that will require drill testing.
Figure 2 – Ground gravity survey results show multiple anomalies associated with structural corridors.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2864/120990_84273c7ca4ed9908_003full.jpg
The ground gravity survey, consisting of 3,100 stations on 200 m x 50 m grid was completed in March by MWH Geophysics Ltd. Processing of the data resulted in the identification of several residual Bouguer anomalies corrected at 1.9 g/cm3, represented by several prominent gravity lows. Hydrothermal fluids associated with high-grade basement-hosted uranium deposits cause extensive clay alteration of the host rock, resulting in reduced density relative to the surrounding country rocks. This density contrast will be expressed as a gravity low and is a priority drill target when coincident with other indicators of uranium mineralization. Similar gravity lows are associated with recent discoveries of basement-hosted uranium deposits in the Athabasca Basin, most notably the discovery of the Arrow Uranium Deposit which is host to 337.4 million pounds U3O8 in measured, indicated, and inferred categories.
The Company is completing work on the Project under a Property Option Agreement with Durama Enterprises Limited ("Durama"), a private company, which allows CanAlaska to earn up to 100% interest in the Project (Figure 1) (See News Release Dated October 6th, 2021).
Planned Work Programs
Work permit applications have submitted to the Saskatchewan Ministry of Environment for a 2022 drilling program on the Key Extension project. A fully-permitted regional geological prospecting program is planned for the summer of 2022 in advance of the drilling program. In addition, the Company plans to complete a high-resolution airborne radiometrics survey and a re-interpretation of the historical VTEM survey data.
CanAlaska CEO, Cory Belyk, comments, "The results of this gravity survey and initial compilation work are incredibly encouraging and provide multiple drill targets for immediate follow-up along a previously untested portion of the prolific Key Lake structure. The presence of nearby historical uranium in boulders and outcrop highlight the potential of this property to host significant basement-hosted uranium mineralization. Multiple datasets are pointing directly to these three priority target areas which are likely to be the focus of CanAlaska's inaugural drill program at Key Extension."
About CanAlaska Uranium
CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 300,000 hectares (750,000 acres), in Canada's Athabasca Basin - the "Saudi Arabia of Uranium." CanAlaska's strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company's properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world's richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.
The qualified technical person for this news release is Nathan Bridge, MSc., P.Geo., CanAlaska's Vice President, Exploration.
On behalf of the Board of Directors
"Peter Dasler"
Peter Dasler, M.Sc.
President
CanAlaska Uranium Ltd.
Contacts:
Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com
Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com
Neither 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 information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120990
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Transaction Increasing Cameco's Ownership Stake in Cigar Lake Closes
CAMECO (TSX: CCO; NYSE: CCJ) announced that the acquisition of Idemitsu Canada Resources Ltd.'s (Idemitsu) 7.875% participating interest in the Cigar Lake Joint Venture by Cameco and Orano Canada Inc. (Orano) closed today.
Cameco's ownership stake in the Cigar Lake uranium mine in northern Saskatchewan now stands at 54.547%, 4.522 percentage points higher than it was prior to the transaction, while Orano's interest is 40.453%, an increase of 3.353 percentage points from its previous share. TEPCO Resources Inc. retains the remaining 5% interest in the property.
For more information regarding this transaction, please see Cameco's May 10, 2022 news release announcing the acquisition.
Profile
Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world's largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005837/en/
Investor inquiries:
Leah Hipperson
306-385-5524
leah_hipperson@cameco.com
Media inquiries:
Jeff Hryhoriw
306-385-5221
jeff_hryhoriw@cameco.com
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NexGen Files Management Information Circular in Connection with Annual General and Special Meeting of Shareholders
NexGen Energy Ltd. ("NexGen" or the "Company") (TSX: NXE) (NYSE MKT: NXE) (ASX: NXG) is pleased to announce it has mailed the Notice of Meeting and Management Information Circular to shareholders of record as of May 9, 2022 in connection with the Annual General and Special Meeting to be held on Thursday, June 23, 2022 at 2:00 p.m. (Pacific Time) .
Your vote is important - please vote today.
NexGen encourages shareholders to read the meeting materials, which have been filed on SEDAR ( www.sedar.com ) and ASX ( www.asx.com.au ) and are on our website at www.nexgenenergy.ca .
Shareholders will be asked to vote on the following matters:
- Set the number of directors at nine;
- Elect directors for the ensuing year;
- Re-appoint the auditors for the ensuing year; and
- Re-approve the current stock option plan
Meeting Access and Location:
Webcast Url: https://produceredition.webcasts.com/starthere.jsp?ei=1550103&tp_key=c99fd7fe0f
Conference dial-in: Toronto : 416-764-8659
Vancouver : 778-383-7413
North American Toll Free: 1-888-664-6392
International Toll Free: Australia 1800076068 / Hong Kong 800962712
Conference ID: 31698720
Location: The Offices of NexGen Energy Ltd.
Suite 3150, 1021 West Hastings St.
Vancouver BC
Participants of the webcast and teleconference facilities will be able to participate in the question-and-answer session following the formal part of the Meeting and presentation, and will not be able to participate in the formal part of the Meeting.
The Board of Directors of NexGen recommends that shareholders vote in favour of all proposed items.
How to Vote
Beneficial Shareholder Shares held with a broker, bank or other intermediary | Registered Shareholders Shares held in own name and represented by a physical certificate | CDI Holders Shares held by way of CDIs through CHESS Depository Nominees Pty Limited | |
www.proxyvote.com | |||
Call or fax to the number(s) listed on your voting instruction form | Phone: 1-866-732-8683 Fax: 1-866-249-7775 | Fax to the number(s) listed on your CDI voting instruction form | |
Return the voting instruction form in the enclosed postage paid envelope | Return the form of proxy in the enclosed postage paid envelope | Return the CDI voting instruction form to the address listed in your CDI voting instruction form |
Please submit your vote well in advance of the proxy deposit deadline of 2:00p.m. (Pacific Time) on Tuesday , June 21, 2022.
Shareholder Information and Questions
NexGen shareholders who have questions about the management information circular, or require assistance with voting their shares can contact the Company's proxy solicitation agent, Laurel Hill Advisory Group:
About NexGen
NexGen is a British Columbia corporation focused on the development of the Rook I Project located in the southwestern Athabasca Basin, Saskatchewan, Canada, into production. The Rook I Project is supported by a NI 43-101 compliant Feasibility Study which outlines elite environmental performance as well as industry leading economics. Rook I hosts the Arrow Deposit that hosts Measured Mineral Resources of 209.6 M lbs of U 3 O 8 contained in 2.18 M tonnes grading 4.35% U 3 O 8 , Indicated Mineral Resources of 47.1 M lbs of U 3 O 8 contained in 1.57 M tonnes grading 1.36% U 3 O 8 , and Inferred Mineral Resources of 80.7 M lbs of U 3 O 8 contained in 4.40 M tonnes grading 0.83% U 3 O 8 .
NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production. The Company is the recipient of the 2018 PDAC Bill Dennis Award for Canadian mineral discovery and the 2019 PDAC Environmental and Social Responsibility Award.
Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of applicable United States securities laws and regulations and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to mineral reserve and mineral resource estimates, the 2021 Arrow Deposit, Rook I Project and estimates of uranium production, grade and long-term average uranium prices, anticipated effects of completed drill results on the Rook I Project, planned work programs, completion of further site investigations and engineering work to support basic engineering of the project and expected outcomes. 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. Statements relating to "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment that, based on certain estimates and assumptions, the mineral resources described can be profitably produced in the future.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen's business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the mineral reserve and resources estimates and the key assumptions and parameters on which such estimates are based are as set out in this news release and the technical report for the property , the results of planned exploration activities are as anticipated, the price and market supply of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate in the future.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, the existence of negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, conclusions of economic valuations, the risk that actual results of exploration activities will be different than anticipated, the cost of labour, equipment or materials will increase more than expected, that the future price of uranium will decline or otherwise not rise to an economic level, the appeal of alternate sources of energy to uranium-produced energy, that the Canadian dollar will strengthen against the U.S. dollar, that mineral resources and reserves are not as estimated, that actual costs or actual results of reclamation activities are greater than expected, that changes in project parameters and plans continue to be refined and may result in increased costs, of unexpected variations in mineral resources and reserves, grade or recovery rates or other risks generally associated with mining, unanticipated delays in obtaining governmental, regulatory or First Nations approvals, risks related to First Nations title and consultation, reliance upon key management and other personnel, deficiencies in the Company's title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licences, risks related to changes in laws, regulations, policy and public perception, as well as those factors or other risks as more fully described in NexGen's Annual Information Form dated February 25, 2022 filed with the securities commissions of all of the provinces of Canada except Quebec and in NexGen's 40-F filed with the United States Securities and Exchange Commission, which are available on SEDAR at www.sedar.com and Edgar at www.sec.gov .
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or statements or implied by forward-looking information or statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information or statements due to the inherent uncertainty thereof.
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. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws .
View original content: https://www.prnewswire.com/news-releases/nexgen-files-management-information-circular-in-connection-with-annual-general-and-special-meeting-of-shareholders-301551453.html
SOURCE NexGen Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/May2022/19/c5189.html
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Purepoint Uranium Outlines Upcoming Exploration Session
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") today outlined their remaining 2022 exploration plans for the Hook Lake Joint Venture and eight of their 100% owned projects in the Athabasca Basin, Saskatchewan Canada. These plans include follow-up drilling at the Company's Red Willow project where this winter's program outlined an astounding 1.2 kilometres of continuous elevated radioactivity (see news release April 19, 2022).
"By the end of the year we will have completed updated field work at all of our ten, 100% owned uranium projects. This work has included follow-up drilling at some of our high priority targets, inaugural drilling at our more advanced prospects and initial geophysical work over our earlier stage properties," noted Chris Frostad, President & CEO of Purepoint. "Although we continue to advance our entire portfolio, we are most excited about returning to our newest priority at Red Willow's Osprey Zone. The discovery of a clearly defined continuous zone of radioactivity extending across such a long distance, with peaks exceeding 33,000 counts per second, provides an exciting preview of what our next program may demonstrate."
Highlights
- Drilling at Red Willow will resume in September following up on the last program's final hole OSP22-15 which encountered numerous structures with hematite alteration and silicification representing a highly prospective setting for uranium deposition.
- Time allowing, the Company expects to complete the Fall drill season in early November at Turnor Lake, testing numerous initial targets including the Serin Zone that resides on trend with IsoEnergy's Hurricane deposit.
- Fall drilling will utilize helicopter support as many of the primary targets (and access) at both Red Willow and Turnor Lake reside in wet, marshy areas. Drilling will focus on priority follow-up and some first pass targets. More extensive drilling will follow next winter.
- On May 4, 2022, the Company filed an updated National Instrument 43-101 compliant technical report on the Hook Lake Joint Venture project (https://purepoint.ca/projects/hook-lake/ - "Technical Report on the Hook Lake Project, Northern Saskatchewan, Canada April 19, 2022").
- In June, Purepoint will carry out a deep sensing ZTEM airborne geophysical survey over the Hook Lake, Carter Corridor to further refine drill targets in anticipation of a follow-up drill program.
- An airborne gravity survey is planned in June over the Carson Lake and Russell South projects. These surveys have proven valuable in identifying alteration zones that can refine drill targets when viewed in tandem with existing historic work.
- In July, an airborne electromagnetic (EM) survey will be conducted over the MillKey, JebRaven, MidBear and CollinEagle projects (collectively referred to the Tabbernor Projects). The survey will help identify structural splays off of the North/South trending Tabbernor structure as well as associated graphitic conductor targets in the area.
- Purepoint is fully funded to carry on the work outline herein.
Illustration 1: Purepoint Projects in Canada's Athabasca Basin
To view an enhanced version of Illustration 1, please visit:
https://orders.newsfilecorp.com/files/3218/124031_3245d98e142d2985_002full.jpg
Red Willow Project
The 100% owned Red Willow property is situated on the northern edge of the eastern Athabasca Basin mine corridor in Northern Saskatchewan, Canada. The property is located in close proximity to several uranium deposits including Orano Resources Canada Inc.'s JEB mine, approximately 10 kilometres to the southwest, and Cameco's Eagle Point mine that is approximately 10 kilometres due south.
Red Willow consists of 17 mineral claims having a total area of 40,116 hectares. Geophysical surveys conducted by Purepoint have included airborne magnetic and EM surveys, an airborne radiometric survey, ground gradient array IP, pole-dipole array IP, fixed-loop and moving-loop transient electromagnetics, and gravity. The detailed airborne VTEM survey provided magnetic results that are an excellent base on which to interpret structures while the EM results outlined over 70 kilometres of conductors that in most instances represent favourable graphitic lithology.
Turnor Lake Project
Turnor Lake is most notably associated with the Kelsey Dome Granite, a pinwheel shaped magnetic high encircled with clusters of graphitic conductors and numerous high-grade uranium showings. The La Rocque Uranium Corridor bisects the northern portion of the project area and lies along the western edge of the Kelsey Dome Formation.
Extensive geophysical programs have allowed Purepoint to outline approximately 34 kilometres of conductors throughout the Turnor Lake Project. Most recently, Purepoint created a 3D lithological model from interpreted cross-sections, drill hole information and surface/bedrock geology. Geophysical data was added in tight integration with the geological model and newly created geophysical inversions, allowing the geophysical data to be represented by a 3D distribution of physical rock properties. Using GOCAD Mining suite Targeting Workflow by Mira Geoscience, the geological, geochemical and geophysical datasets were then integrated and the exploration drill targets were refined.
The Serin conductor is interpreted to be the northeastern extension of the conductor system which hosts Cameco Corp's high grade uranium mineralization at La Rocque Lake (29.9% U3O8 over 7.0 m in hole Q22-40) and IsoEnergy Ltd.'s Laroque East project which hosts their recently discovered high-grade Hurricane Zone (38.8% U3O8 over 7.5 m in hole LE20-76). Serin is a near-vertical conductor extending northeast-southwest for at least 2.2 km and is interpreted to lie at a shallow depth of 400 to 450m below surface.
Results from EM surveys conducted by Purepoint suggest the conductor is vertically offset by approximately 150 metres at the same location that a seismic survey, conducted by Saskatchewan Energy and Mines in 1984, reflects a significant down drop in the basement topography. The MacArthur River Deposit, one of the world's largest uranium mines, was formed at the site of a similar basement step-fault that likely focused mineralized fluids.
Hook Lake - The Carter Corridor
The Hook Lake JV Project is owned jointly by Cameco Corp. (39.5%), Orano Canada Inc. (39.5%) and Purepoint Uranium Group Inc. (21%) as operator and consists of nine claims totaling 28,598 hectares situated in the southwestern Athabasca Basin. The Hook Lake JV Project is considered one of the highest quality uranium exploration projects in the Athabasca Basin due to its location along the prospective Patterson Lake trend and the relatively shallow depth to the unconformity.
The 25-kilometre strike length of the Carter structural/conductive corridor is almost entirely located within the Hook Lake JV project. The Carter corridor is a long lived, reactivated fault zone that lies between the Clearwater Domain granitic intrusives to the west and runs parallel to the Patterson structural corridor to the immediate east.
The Patterson Lake area was recently flown by an airborne gravity survey (Boulanger, Kiss and Tschirhart, 2019) that was funded by the Targeted Geoscience Initiative (TGI), a collaborative federal geoscience program. The gravity results show the southern portion of the Carter corridor as being associated with the same gravity high response as the Triple R and Arrow uranium deposits. The gravity low response west of the Carter corridor reflects the geologically younger, Clearwater Domain intrusions. The TGI (Potter et al., 2020) consider the Clearwater Domain intrusions as being high-heat-producers that warmed and circulated hydrothermal fluids over the structural corridors. Prolonged interaction of oxidized uranium-bearing fluids with basement rocks via reactivated faults is thought to have formed the high-grade uranium deposits.
Purepoint completed three drill holes in the southern portion of the Carter corridor (HK08-01 to 03) during 2008. HK08-01 intersected very strong sericite and silica hydrothermal alteration) and returned a maximum of 17 ppm U within basement rock but missed the conductor source. HK08-02 returned locally elevated radioactivity from 20 to 30 metres below the unconformity while HK08-03 intersected 60 metres of intense hydrothermal hematite alteration below the unconformity.
Carson Lake Project
The 100% owned, 4,972 hectare, Carson Lake Project adjoins ValOre Metals Hatchet Lake Project on the north-eastern edge of the Athabasca Basin. The project covers a historic airborne geophysical EM survey that outlined a strong northeast trending conductor approximately 10 kilometres in length. The survey presents two primary target areas.
To the north, the Killock target is presumed to be graphitic pelite that has been incorporated into the north-south trending Killock Fault. Brittle structures such as the Killock fault intersecting ductile rock types, such as graphitic pelite, can create favourable dilation zones and allow uranium-rich fluids to become trapped.
The Lejour target is located where the north-south trending Lejour Fault crosscuts the main conductor. The recent interpretation of the EW data by Purepoint indicates that the single conductor west of the Lejour Fault is present as two parallel conductors south of the fault.
Russell South Project
The 100% owned Russell Lake Project is located near the south-central edge of the Athabasca Basin covering an area of 13,320 hectares. The project adjoins Cameco's Key Lake project on which the Key Lake Mine
produced over 200 million pounds of uranium at a grade averaging 2.3% U3O8 between 1983 and 1997. In addition, the project adjoins the Moore Lake Project owned by Skyharbour Resources Ltd. with their high-grade Maverick Zone and Rio Tinto's Russell Lake Project to the west and south.
Tabbernor Fault System
The Tabbernor Fault System (TFS) is a wide, >1500 km geophysical, topographic and geological structural zone that trends approximately northward along Saskatchewan's eastern boundary. Purepoint's research has shown that although none of the province's currently known uranium deposits have been directly linked to the north-south trending TFS, localized shear zones hosting uranium mineralization may have an associated north-south structural component.
Reactivation of the TFS may have coincided with the age of formation of large uranium deposits in the Athabasca Basin (Davies, 1998). Davies also concluded that structural similarities between the TFS and mineralized areas suggest that the fault system may have had a control on the location of mineralization. More specifically, he considered that several deposits, such as the Sue, Midwest, Dawn Lake and Rabbit Lake all demonstrate a north-south control and strong Tabbernor-like characteristics.
Purepoint holds 100% of the claims to the south of the Athabasca Basin based on interpreted north-south lineaments linking the Key Lake and Millennium deposits, the Midwest and West Bear deposits, the Jeb and Raven deposits, and the Collins Bay and Eagle Point deposits.
Reference:
Davies, J.R. (1998): The origin, structural style, and reactivation history of the Tabbernor fault zone, Saskatchewan, Canada; Masters thesis, McGill University, Montreal, Quebec, 105p.
Option Grant
On May 13, 2022, the Company approved the issuance of a total of 6,350,000 options to its directors, officers and certain staff members pursuant to the Company's stock option plan. Each of the options is exercisable to acquire one (1) common share of the Company at a price of $0.07 per share and expires on the date that is five years from the date of grant.
About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin. In addition to its flagship joint venture project at Hook Lake with partners Cameco and Orano and a second joint venture with Cameco at Smart Lake, Purepoint also holds ten, 100% owned projects with proven uranium rich targets. With an aggressive exploration program underway on multiple projects, Purepoint is emerging as the preeminent uranium explorer in the world's richest uranium district.
Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.
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.
Disclosure regarding forward-looking statements
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124031
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Baselode Continues to Hit Near-Surface Mineralization and Some of the Strongest Intersections of Elevated Radioactivity
Highlights:
- Three drill holes have now intersected elevated radioactivity within 45 m of vertical depth from surface
- Two holes returned some the strongest elevated radioactivity intersections on ACKIO
- AK22-040: 744 cps over 22.75 m at 115.05 m (new 2 nd best radioactivity intersection)
- AK22-023: 538 cps over 29.25 m at 129.95 m (new 4 th best radioactivity intersection)
- Change in drill azimuth direction has yielded a 100% intersection success
Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (" Baselode " or the " Company ") is pleased to provide an update on the ongoing 20,000 metre diamond drilling program (the " Program ") on the ACKIO high-grade uranium discovery (" ACKIO "), Hook project (" Hook "), Athabasca Basin area, northern Saskatchewan (see Figure 1 and Table 1 ).
"ACKIO continues to impress us as we have now extended near-surface mineralization to an area measuring 50 m by 50 m . We've had two drill holes, AK22-037 and AK22-040, intersect the widest continuous zones of elevated radioactivity, measuring over 20 m drill hole thickness. These two drill holes have now ranked the 2 nd and 4 th best drill holes on ACKIO to date in terms of continuous radioactivity. Additionally, we've changed our drill hole direction from west azimuth (270) to east azimuth (090), targeting a structural model that we've recently conceived. Since then, we've had 100% intersection success with each drill hole hitting significant widths of radioactivity," said James Sykes , CEO, President and Director of Baselode.
"From the drilling we have completed to date, our model for is ACKIO a series of gently west-dipping, stacked, mineralized lenses. In many cases what we previously interpreted as the Upper and Lower zones is in fact connected as one mineralized zone. In other cases there are 3 to 4 stacked lenses on a section. Understanding how to connect the lenses from section to section will require more drilling as the lenses pinch and swell both along strike (N-S) and down-dip (E-W). The main takeaways from ACKIO are that we have continuity of mineralization along strike as we've hit significant widths of mineralization on every drill fence, and that we high levels of radioactivity at shallow depths ranging from 35 m to 150 m true vertical depths," said Cameron MacKay , Vice-President, Exploration & Development.
Highlights include;
- AK22-040 : 744 cps over 22.75 m at 115.05 m (new 2 nd best individual continuous radioactivity intersection at ACKIO to date)
- AK22-037 : 538 cps over 29.25 m at 129.95 m (new 4 th best individual continuous radioactivity intersection) which includes
- 3,623 cps over 0.25 m at 145.35 m
- 3,000 cps over 0.45 m at 156.7 m
- AK22-038 : 914 cps over 6.25 m at 35.85 m (previously reported on May 4, 2022 , the shallowest radioactivity intersection at ACKIO) which includes
- 2,057 cps over 1.75 m at 35.85 m
- Fracture-controlled mineralization with high levels of radioactivity returning 7,914 cps over 0.2 m at 225.5 m , which includes
- Maximum of 18,600 cps over 0.05 m at 225.5 m
- Reminiscent of mineralization distal to the high-grade core at NexGen Energy's (TSX: NXE) Arrow uranium deposit
- AK22-039 : 640 cps over 8.65 m at 40.95 m (2 nd shallowest intersection at ACKIO)
- AK22-041 : 424 cps over 4.6 m at 47.45 m (3 rd shallowest intersection at ACKIO)
- The Upper zone strike length remains 375 metres and the Lower zone strike length remains 265 metres; both zones are open in all directions ( see Figure 1 ).
The Company is preparing a video presentation to provide more details and interpretations regarding the results and details from this and previous news releases. The video is expected within the next week.
Since announcing the start of the Program on February 9, 2022 (see Company News Release), Baselode has completed 37 drill holes (AK22-005 to AK22-041) for 11,153.75 m ( see Figure 1 ). Twenty of thirty-seven drill holes have intersected continuous elevated radioactivity. A complete list of drill hole collar information and hand-held scintillometer radioactivity composite measurements for the drill holes reported in this news release (AK22-034 to AK22-041) are provided in Table 1 .
Drill holes AK22-034 to AK22-041 were all drill testing a structural model which required a change in drilling azimuth from west (270) to east (090). The model required testing prior to continuing drilling along strike to the southeast of ACKIO. The change in the drill azimuth direction has had a 100% intersection success suggesting the structural model is accurate.
Successful drill testing of the structural model has changed the future drill plans. One drill will continue ACKIO exploration to the southeast drilling with an east-facing azimuth (090) while the other drill will continue to infill previously drilled fences with a similar east-facing azimuth (090).
Samples from these reported eight drill holes have been submitted to the Saskatchewan Research Council's (" SRC ") Geoanalytical Laboratory in Saskatoon, Saskatchewan , for whole-rock, multi-element and U 3 O 8 analysis. Baselode will continue to provide Program updates on a bi-monthly to monthly schedule. Uranium assay results will be released as they are received after being compiled and thoroughly checked by the technical team.
The Program is helicopter-supported to lessen any ground-induced environmental impacts within the project area, and will allow the Company to continue the Program during Spring thaw.
ACKIO is 30 km southeast of well-established infrastructure, including an all-season road and powerline between Cameco Corp.'s (TSX: CCO) and Orano's McArthur River mine and Key Lake Uranium mill joint ventures. ACKIO is 70 km northeast of the Key Lake mill.
NOTES:
- cps* = "counts-per-second", as measured with a handheld RS-125 Gamma-Ray Spectrometer/Scintillometer. The reader is cautioned that Baselode uses scintillometer readings as a preliminary indication for the presence of radioactive materials (uranium, thorium and/or potassium), and that scintillometer results may not be used directly to quantify or qualify uranium concentrations of the rock samples measured.
- The Company considers all RS-125 readings greater than 300 cps to be considered elevated radioactivity, with background radioactivity measuring between 50 to 125 cps.
- "Continuous elevated radioactivity" means drill core length with no greater than 2.0 m of consecutive drill hole length measuring less than 300 cps.
- All reported drill hole depths and lengths do not represent true thicknesses which have yet to be determined.
- "best radioactive intersections" were determined by multiplying the average radioactivity with the reported intersection widths for each drill hole that Baselode has reported on to date.
Figure 1 – Plan map of the Ackio mineralized surface expression
Table 1 - Drill collar details and continuous composite elevated radioactivity results from drill holes AK22-034 to AK22-041
About Baselode Energy Corp.
Baselode controls 100% of approximately 227,000 hectares for exploration in the Athabasca Basin area, northern Saskatchewan, Canada . The land package is free of any option agreements or underlying royalties.
Baselode's Athabasca 2.0 exploration thesis is focused on discovering near-surface, basement-hosted, high-grade uranium orebodies outside of the Athabasca Basin. The exploration thesis is further complemented by the Company's preferred use of innovative and well-understood geophysical methods to map deep structural controls to identify shallow targets for diamond drilling.
QP Statement
The technical information contained in this news release has been reviewed and approved by Cameron MacKay , P.Geo., Vice-President, Exploration & Development for Baselode Energy Corp., who is considered to be a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Baselode Energy Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Baselode Energy Corp. Additional information identifying risks and uncertainties is contained in the Company's filings with Canadian securities regulators, which filings are available under Baselode Energy Corp. profile at www.sedar.com .
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States . The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.
SOURCE Baselode Energy Corp.
View original content: http://www.newswire.ca/en/releases/archive/May2022/16/c3851.html
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