Toro Energy’s significant uranium resource in a tier 1 jurisdiction places the company in a compelling position to leverage a bullish uranium market and the mineral’s strategic role in global decarbonization.
Australia is the world’s third-largest uranium producer (12 percent) next to Kazakhstan (43 percent) and Canada (13 percent). It is home to the Wiluna Uranium Project, the flagship asset of Toro Energy (ASX:TOE), a uranium exploration and development company also exploring value in other commodities.
The 100-percent-owned Wiluna uranium project includes three key deposits – Lake Maitland, Centipede-Millipede and Lake Way – and offers significant uranium exposure of 87.8 million tons (Mt) at 381 ppm for 73.6 Mlbs U3O8 at 100 ppm cut-off (JORC 2012). It is located only 30 kilometers southeast of Wiluna in Central Western Australia.
The Wiluna uranium project has received state and federal approval (subject to required amendments) and has been granted mining leases.
Considerable research over recent years has identified processing redesign opportunities from unique geological attributes within the uranium deposits, but particularly at Lake Maitland, as well as the ability to extract the inherent vanadium held within the uranium ‘ore’ for a vanadium by-product.
Within the uranium mineralization envelope, the Wiluna project is estimated to contain 141.8 Mt vanadium oxide (V2O5) at 286 ppm for 89.3 Mlbs of V2O5 at 100 ppm V2O5 cut-off (JORC 2012), as of September 24, 2024.
The scoping study for the stand-alone Lake Maitland uranium-vanadium operation option shows potential for exceptional financial returns with a pre-tax NPV of AU$832.8 million, a short payback period of 2.5 years, 48 percent internal rate of return, and low capex of AU$291 million (US$203 million), based on price assumption of US$85/lb U3O8, US$5.67/lb V2O5 and a 70 cents US$:AU$ exchange rate.
In September 2024, the Lake Maitland deposit has been re-estimated using a resource envelope more in line with the other Wiluna uranium deposits; allowed the lowering of the cut-off grade to 100ppm U3O8, expanding Lake Maitland resources by 12 percent and that of the entire Wiluna project by 17 percent (when the expansions at Lake Way and Centipede-Millipede are also included).
The design phase of Toro Energy’s beneficiation and hydrometallurgical pilot plant is on track and in line with plans to finalise construction. The pilot plant will test the improved beneficiation and hydrometallurgical circuit developed by Toro from bench scale research at a closer-to-production scale and as single streams. It will also test potential ore from the three uranium-vanadium deposits that Toro believes will make up an extended Lake Maitland operation – these include Lake Maitland, Lake Way and Centipede-Millipede.
The Lake Maitland deposit is part of a joint venture partnership with two reputable Japanese corporations, Japan Australia Uranium Resource Development. (JAURD) and Itochu.
Toro has been actively evaluating the prospectivity of its Wiluna asset portfolio for minerals other than uranium, including nickel and gold.
The Lake Maitland mining pit re-optimization which incorporated the latest resource estimates and updated financial data has been completed. Mine scheduling is currently underway in preparation for the upcoming scoping study update.
Toro’s Dusty nickel project is located on the northern, eastern and southern shores of Lake Maitland and the Lake Maitland uranium deposit and is focused on two main target areas: Dusty and Yandal One. These properties will be the subject of a proposed demerger, following Toro’s recent strategic review of its non-core assets and future plans to solely focus on its uranium development opportunities and its flagship Wiluna project.
Toro Energy’s management team and board of directors have extensive experience in the mining industry, with combined expertise that includes working at major mining houses, exploration companies, uranium mining operations, corporate financing and government and community relations.
Location of the Lake Maitland Uranium and Vanadium Deposit within Toro’s portfolio of Uranium-Vanadium Deposits that make up the company’s Wiluna Uranium-Vanadium Project
Toro Energy’s flagship asset is located only 30 kilometers from the town of Wiluna in the northern goldfields region within central Western Australia. The Wiluna project contains 87.8 Mt at 381 ppm for 73.6 Mlbs U 3O8 at 100 ppm cut-off over three deposits: Centipede-Millipede, Lake Way and Lake Maitland. The asset has been de-risked and optimized to improve yield and has successfully incorporated the processing of a vanadium resource as a by-product. A scoping study was completed for a stand-alone Lake Maitland uranium-vanadium operation.
Toro’s Lake Maitland tenure is located in the Yandal Greenstone Belt within the Yilgarn Craton of Western Australia, a gold district within a world-class gold and nickel province. With little exploration for non-uranium minerals ever conducted on the properties, Toro considers the project area highly prospective for nickel, gold and base metals.
Exploration and diamond drilling have identified four massive/semi-massive nickel sulphide zones within just 4.5 km of a 7.5 km komatiite magnetic trend. Limited testing has been conducted across a 15 km strike of known komatiite-ultramafic target rock. With minimal drilling at Lake Maitland, the full extent of prospective nickel sulphide mineralization remains unknown.
The Lake Maitland tenure is located only 20 kilometers northeast of the world-class Bronzewing and Mt McClure gold mines within the same Greenstone Belt, the Yandal, within one of the most famous gold provinces in the world, the Yilgarn Craton.
Early exploration by Toro at the Golden Ways target area in the north of the project has uncovered surface rock chip samples of up to 70 g/t gold and significant drilling results, including:
Richard Homsany has extensive experience in the resources industry, having been the executive vice-president for Australia of TSX-listed Mega Uranium since April 2010. He has worked for North Ltd, an ASX top 50-listed internationally diversified resources company in operations, risk management and corporate, before its takeover by Rio Tinto.
Homsany is an experienced corporate lawyer and certified practicing accountant (CPA) advising numerous clients in the energy and resources sector, including publicly listed companies. He was corporate partner at international law firm DLA Phillips Fox (now DLA Piper), where he advised clients on a range of transactions and matters including capital raising, IPOs, stock exchange listing, mergers and acquisitions, finance, joint ventures, divestments and governance.
Michel Marier joined Sentient in 2009 as an investment manager. Before joining Sentient, Marier worked eight years in the private equity division of la Caisse de dépôt et placement du Québec. Marier holds a master’s degree in finance from HEC Montreal and is a CFA charter holder.
Richard Patricio is the CEO and president of Mega Uranium, a uranium-focused investment and development company with assets in Canada and Australia. Patricio has built a number of mining companies with global operations. He holds senior officer and director positions in several junior mining companies listed on the TSX, TSX Venture, AIM and NASDAQ exchanges. He is currently also a director of NexGen Energy (TSE:NXE, Mkt Cap. C$2.7 billion). He previously practiced law at a top-tier law firm in Toronto and worked as an in-house general counsel for a senior TSX-listed company. He received his law degree from Osgoode Hall and was called to the Ontario bar in 2000.
Dr. Greg Shirtliff, with a PhD in mine-related geology and geochemistry from ANU, has 20+ years of experience across environmental, mine geology, resource development, exploration, and management. His career includes roles at ERA-Rio Tinto’s Ranger Uranium Mine, Cameco Australasia, and currently as Lead Geologist & Technical Manager at Toro Energy. He oversees uranium and mineral resource development, directs exploration strategy, supports EPA approvals, and guides engineering and metallurgical assessments.
Katherine Garvey is a corporate lawyer who has significant experience in the resources sector. Garvey advises public (both listed and unlisted) and proprietary companies on a variety of corporate and commercial matters including capital raising, finance, acquisitions and disposals, Corporations Act and ASX Listing Rule compliance, corporate governance and company secretarial issues. She has extensive experience drafting and negotiating various corporate and commercial agreements including farm-in agreements, joint ventures, shareholders’ agreements, and business and share sale and purchase agreements.
Marc Boudames is experienced in statutory financial reporting, taxation, ERP systems, business analytics, corporate transactions, due diligence, mergers & acquisitions, finance, joint ventures and divestments. He previously worked at RSM Bird Cameron, as general manager –finance & administration for ASX-listed Redport Ltd and Mega Uranium (Australia), a Canadian TSX-listed mining and equity investment company focused on global uranium properties and multi-mineral exploration. He has worked for multiple companies across various industries, including listed and public companies associated with the mining and oil and gas sectors, such as WesTrac, CB&I and Spotless Group.
Uranium development and exploration in Western Australia
Uranium.io is a next-generation platform transforming access to physical uranium (U₃O₈) through the power of blockchain technology. It empowers both individual and institutional investors to directly own and trade uranium, eliminating many of the traditional barriers, such as high costs, limited transparency, and market inefficiencies. Each xU₃O₈ token is fully backed by physical uranium stored in a secure, regulated facility operated by Cameco. Custodianship is provided by Archax, a UK-regulated digital asset firm, ensuring robust transparency and trust in the asset’s backing.
The platform meets rising investor demand for uranium—a key driver of the global energy transition. As nations pursue net-zero targets, nuclear energy is gaining momentum as a reliable, low-carbon power source. Governments across North America, Europe, and Asia are expanding nuclear capacity by restarting reactors, building new ones, and advancing small modular reactor development.
Uranium.io combines blockchain, digital custody, and real-world uranium supply to deliver secure, transparent access to the uranium market. By bridging traditional commodity trading with Web3, the platform enables users to seamlessly acquire, hold, and trade physical uranium through xU₃O₈ tokens.
This Uranium.io profile is part of a paid investor education campaign.*
Click here to connect with xU3O8 (uranium.io) to receive an Investor Presentation
Positioned at the intersection of energy, technology and finance, xU3O8 on uranium.io, offers a powerful value proposition for investors seeking to capitalize on the bullish outlook for uranium — with none of the legacy inefficiencies.
Uranium.io is a next-generation platform revolutionizing how investors access and trade physical uranium (U3O8). By leveraging blockchain technology, it enables individuals and institutions to directly own and trade uranium, bypassing many of the inefficiencies, opacity and high costs traditionally associated with uranium exposure. Each xU3O8 token represents real, physical uranium stored securely in a regulated depository operated by Cameco, with Archax, a UK-regulated digital asset firm, as the custodian for the physical uranium ensuring transparency and trust in asset backing.
The platform is designed to meet growing investor demand for exposure to uranium, a commodity that is a critical component of the global energy transition. As countries commit to reducing carbon emissions, nuclear energy is increasingly seen as a reliable and scalable source of low-carbon electricity. Governments across North America, Europe and Asia are ramping up their nuclear energy capacities, as part of their net-zero targets. This includes restarting idled reactors, constructing new reactors, and accelerating the development of small modular reactors.
Nuclear power is also emerging as a stable and scalable option for supporting artificial intelligence (AI) data centers, which require massive amounts of electricity to operate. Industry leaders, including Microsoft, have announced nuclear energy investments, and several technology firms have secured long-term agreements for nuclear power.
Like gold and silver before it, uranium is entering a phase of financialization — with physical holding trusts, ETFs, and now platforms like uranium.io offering direct physical uranium ownership via xU3O8, making it more accessible to a wider set of investors.
As traditional financial markets converge with digital innovation, tokenized assets are becoming a preferred vehicle for commodities investing. Uranium.io’s use of the Etherlink blockchain ensures secure, real-time trading with minimal friction — a distinct advantage in an increasingly digitized investment landscape.
Development of the uranium.io platform is led by the team at London-based Trilitech, a group of entrepreneurs and technologists driving blockchain innovations.
With its emphasis on direct fractional ownership and 24/7 worldwide accessibility, xU3O8 is uniquely positioned to serve as the gateway to physical uranium exposure for a global investor base. Alignment with broader energy and digital asset trends makes it a compelling vehicle for those seeking to capitalize on uranium’s strong fundamentals and the disruptive power of decentralized finance.
Uranium.io is built on a secure, decentralized technology stack that integrates blockchain infrastructure, digital asset custody, and real-world commodity supply — delivering unprecedented access and transparency to the uranium market. The platform bridges traditional commodities trading with Web3 innovation, allowing users to seamlessly acquire, hold and trade physical uranium via xU3O8 tokens.
At the heart of xU3O8’s digital asset engine is the Tezos blockchain, a highly secure, energy-efficient and self-amending Layer 1 protocol. Tezos is uniquely suited to power real-world asset tokenization due to its low transaction costs and energy efficiency; on-chain governance and smart contract flexibility; and enterprise-grade security and decentralization.
Tezos’ track record with real-world assets, including tokenized real estate and art, positions it as an ideal foundation for the secure, scalable digitization of uranium ownership.
To ensure that each xU3O8 token is backed with physical uranium, uranium.io is supported by Archax, a London-based, digital asset custodian and exchange regulated by the Financial Conduct Authority. Archax provides regulated asset custody, KYC/AML-compliant onboarding, and real-time asset reconciliation.
Archax brings institutional-grade governance and accountability to the storage and oversight of physical uranium, ensuring that investor holdings are not just theoretical but physically secured.
Access to physical uranium is facilitated by its partnership with Curzon Uranium, a specialized uranium trading and logistics firm. Curzon acts as the platform’s uranium provider, sourcing, purchasing and delivering uranium from trusted upstream suppliers to secure storage.
Curzon’s decades of experience in uranium procurement adds physical credibility and market depth to the xU3O8 ecosystem — making the platform more than just a digital asset project, but a fully integrated uranium trading platform.
The physical uranium ore concentrate (U3O8) is securely stored at a regulated storage facility, operated by Cameco, one of the three globally recognized uranium conversion and storage providers. For transparency, Proof of Reserves is always available on the website and is updated with monthly statements from Cameco.
Together, Tezos, Archax and Curzon Uranium form the digital, custodial and physical backbone of the uranium.io platform. This trio of technologies and partnerships ensures a secure, compliant and efficient path for investors to gain physical uranium exposure — fractionalized, tokenized and tradable 24/7 on a global scale.
Stallion Uranium Corp. (the " Company " or " Stallion ") ( TSX-V: STUD ; OTCQB: STLNF ; FSE: FE0 ) is pleased to announce the successful completion of a ground gravity survey over its Coyote Target, located within the Southwestern Athabasca Basin Joint Venture ("JV") Project in partnership with Atha Energy Corp. (" Atha Energy ") ( TSX-V: SASK ). The survey marks a critical step in advancing the exploration efforts in this highly prospective uranium region.
Highlights:
"The results of our ground gravity survey at the Coyote Target mark a significant milestone in our exploration efforts within the Athabasca Basin," said Matthew Schwab, CEO of Stallion Uranium Corp. "The identification of a substantial gravity low anomaly mirroring the characteristics of world-class uranium deposits reinforces our confidence in Coyote's potential. This advancement strengthens our commitment to pursuing exploration in this highly prospective region, and we are eager to take the next steps in unlocking the value of this target through focused drilling. Stallion remains dedicated to executing a systematic and science-driven approach as we continue to build shareholder value through discovery."
The survey encompassed a total area of 2,623 hectares, with 2,738 gravity stations strategically placed to detect subsurface variations in density that may indicate uranium alteration. The results revealed a substantial gravity low anomaly, a hallmark feature associated with large-scale uranium deposits, such as NexGen Energy's Arrow Deposit. The Arrow Deposit, one of the most significant uranium discoveries in the Athabasca Basin, shares multiple geological and geophysical similarities with the Coyote Target, strengthening confidence in the potential for a high-grade uranium discovery.
"Our ground gravity survey has identified a highly compelling target that exhibits striking similarities to the world-class Arrow Deposit," said Darren Slugoski, Vice President, Exploration at Stallion Uranium. "The anomaly's location is particularly compelling, as it coincides with structural complexities and breaks in conductors, and geological features that are strikingly similar to those associated with the Arrow Deposit. The convergence of multiple overlapping anomalies solidifies Coyote as a Tier 1 exploration target, warranting further advancement through targeted drilling."
Survey Area:
The Coyote Target is strategically positioned 58 kilometers northeast of NexGen Energy's Arrow Deposit, which hosts an estimated 256.7 million pounds of U₃O₈ at an average grade of 3.1% U₃O₈ (2021, NI 43-101 Technical Report). The gravity anomaly identified at Coyote aligns with key geological characteristics of Arrow, including structural breaks, intersecting conductive corridors, and large-scale alteration zones. This strong resemblance suggests that Coyote has the potential to host a world-class uranium deposit similar in scale and grade to Arrow. Given the compelling nature of these findings, Coyote is now a top-tier priority for Stallion's upcoming exploration programs.
Figure 1 : Survey Location over Regional Magnetics
Figure 2 : Ground Gravity Survey Results
About the Ground Gravity Survey:
Beginning February 5 and concluding February 21, 2025, MWH Geo-Surveys (Canada) Ltd. carried out a gravity survey at the Coyote Target in Saskatchewan. The survey utilized a customized L&R digital, electronic feedback gravity meter, operated via proprietary controller software. These advanced gravity meters, incorporating electronic levels and electronic nulling, ensure fast, accurate, and reliable readings, particularly in cold-weather conditions.
At each gravity station, GControl software, developed by MWH Geo-Surveys, recorded gravity samples at 1-second intervals. The resultant average of these readings was used as the final gravity measurement, significantly reducing high-frequency noise caused by wind and ground motion. Additionally, GControl calculated real-time, location-specific tidal corrections during data collection, enhancing the accuracy and reliability of the survey results.
With a typical mean data accuracy of 0.02 mgals, MWH Geo-Surveys continues to set the standard for high-resolution gravity surveys, delivering reliable results for resource exploration and geophysical studies.
Qualifying Statement:
The foregoing scientific and technical disclosures for Stallion Uranium have been reviewed by Darren Slugoski, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan. Mr. Slugoski is a Qualified Person as defined by National Instrument 43-101.
About Stallion Uranium Corp.:
Stallion Uranium is working to ‘Fuel the Future with Uranium' through the exploration of roughly 2,700 sq/km in the Athabasca Basin, home to the largest high-grade uranium deposits in the world. The company, with JV partner Atha Energy holds the largest contiguous project in the Western Athabasca Basin adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised of uranium and precious metals exploration experts with the capital markets experience and the technical talent for acquiring and exploring early-stage properties. For more information visit stallionuranium.com .
On Behalf of the Board of Stallion Uranium Corp.:
Matthew Schwab
CEO and Director
Corporate Office:
700 - 838 West Hastings Street,
Vancouver, British Columbia,
V6C 0A6
T: 604-551-2360
info@stallionuranium.com
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.
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this material change report should not be unduly relied upon. These statements speak only as of the date they are made.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this presentation are expressly qualified in their entirety by this cautionary statement .
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9f662513-edcd-4d23-aaef-13b2a9234fca
https://www.globenewswire.com/NewsRoom/AttachmentNg/bd5964ef-50b1-4add-a2fb-d86ee32b0ad9
News Provided by GlobeNewswire via QuoteMedia
