Latest news with #UraniumProject
Yahoo
20-05-2025
- Business
- Yahoo
Aventis Energy Provides Recent Exploration Insights at the Corvo Uranium Project
The Corvo Uranium Project is prime real estate for a basement-hosted uranium discovery VANCOUVER, British Columbia, May 20, 2025 (GLOBE NEWSWIRE) -- Aventis Energy. ('Aventis' or the 'Company') (CSE: AVE | OTC: VBAMF), is pleased to provide a comprehensive summary of exploration insights and historical data gathered at its Corvo Uranium Project ('Corvo', or the 'Project'). Highlights: Basement-hosted Uranium Prospect: Historical drill holes intersected multiple intervals of uranium mineralization, notably along a strike length of 800 metres between historical drill holes TL-79-3 (0.116% UO over 1.05 m) and TL-79-5 (0.065% UO over 0.15 m) High-grade* Uranium at Surface: Prospecting, mapping, geochemical surveying, and drilling completed in the late 1970s and 80s identified graphitic metasedimentary rocks in outcrop along the conductive corridor and led to the discovery of multiple uraniferous outcrops including the Manhattan showing (1.19 to 5.98% UO) and SMDI showing 2052 (0.137% UO and 2,300 ppm Th) Favorable Host Rocks: An airborne Time-Domain Electromagnetic ('TDEM') survey was recently completed to pinpoint graphitic rocks (conductors) favourable for hosting significant concentrations of uranium. This modern electromagnetic survey will infill and improve upon historical surveys which have identified at least 25 km of combined conductor strike length. Target Development & Drilling: The results of the recent airborne TDEM survey will be subject to geophysical interpretation and modelling, and integrated with the Project's existing datasets, to prioritize target areas for additional geophysics and inaugural drilling. Mandeep Parmar, Interim CEO of Aventis, commented: 'The Corvo Project has many areas that need further investigation. We look forward to developing our target areas with additional work programs throughout the year as we advance towards our maiden drilling program.'Figure 1. Regional map of the Corvo Project. The Project is located 45 km northeast of Atha Energy's Gemini Mineralized Zone ('GMZ') and 60 km due east of Cameco's McArthur River mine. Corvo Project Overview and Historical Exploration: The Project covers 12,265 hectares in the eastern Athabasca Basin region, targeting high-grade basement-hosted uranium on the Corvo project. The Corvo Project is situated 1.5 km outside the current margin of the Athabasca Basin, approximately 45 kilometres northeast of the Gemini Mineralized Zone ('GMZ'; Figure 1). The Company believes the Project is highly prospective for the discovery of high-grade basement-hosted uranium mineralization akin to the Rabbit Lake deposit and the recently discovered Gemini Mineralized Zone. Several outcrop showings of mineralized veins and fractures are present on the Project, notably the Manhattan Showing that returned historical sample results up to 59,800 ppm U at surface and has never been drill tested. The Project is also prospective for rare earth element ('REE') mineralization, potentially providing additional value upside. Basement-hosted uranium deposits in the Athabasca Basin region are typically associated with graphite-rich rocks, evident as electromagnetic ('EM') conductors in geophysical surveys. These graphite-rich rocks, softer than surrounding quartzite and granitoid lithologies, are not frequently exposed at the surface due to glacial cover. However, prospecting, mapping, and geochemical surveying completed in the late 1970s and 80s on the Project identified graphitic metasedimentary rocks in outcrop along conductive corridors and led to the discovery of multiple uriniferous outcrops including the Manhattan Showing (up to 59,800 ppm U) and SMDI showing 2052 (0.137% UO & 2,300 ppm Th).3 Historical airborne and ground electromagnetic work between 1979 and 2017 identified a broad, northeast-southwest trending, conductive system that is approximately 2.5-km wide with prospective targets associated with magnetic-low corridors and cross-cutting faults. Historical drilling on the Project by Norbaska Mines Ltd. in 1979 and 1980 has outlined multiple intercepts of basement-hosted uranium mineralization (Figure 2). Historical drill hole TL-79-3 intersected 4.63 metres of composite mineralization >0.05% UO across multiple mineralized zones, including 0.116% UO over 1.05 metres. Drill hole TL-79-5 intersected 0.065% UO over 0.15 metres, approximately 800 metres along strike from 2. Summary map showing low/EM conductor trends on the Corvo project and highlighting historical samples and drill holes with anomalous uranium and/or radioactivity, with first vertical derivative magnetics in the this year, the Company contracted Axiom Exploration Group Ltd. in partnership with New Resolution Geophysics to carry out a helicopter-borne Xcite time domain electromagnetic and total field magnetic survey over the Corvo project. The survey totalled approximately 1,380 line-kms with a traverse line spacing of 100 m and tie-line spacing of 1,000 m. The airborne TDEM survey outlines several kilometers of conductive anomalies and magnetic features in bedrock, effectively enhancing the resolution of the conductive trends on the project. The magnetic survey contributes to definition of potential fault systems and structural trends not previously identified across the project related to historical uranium showings at surface and in historical drill holes. The Company is planning supplementary geophysical surveys across the Project in 2025 to further refine drill targets for an inaugural drill program, in addition to a mapping, prospecting, and sampling program to ground-truth historical uranium showings at surface. Ongoing geophysical interpretation and modeling is planned to integrate historical surveys with newly collected datasets, which will provide high-priority drill targets and significantly derisk the Project prior to modern drilling. *The Company considers uranium mineralization with concentrations greater than 1.0 wt% U3O8 to be 'high-grade'. **The Company considers radioactivity readings greater than 300 counts per second (cps) to be 'anomalous'.The scientific and technical information contained in this news release has been reviewed, verified, and approved by Sean Hillacre, President and VP Exploration of Standard Uranium and a 'qualified person' as defined in NI 43-101. Historical data disclosed in this news release relating to sampling results from previous operators are historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. The Company's future exploration work may include verification of the data. The Company considers historical results to be relevant as an exploration guide and to assess the mineralization as well as economic potential of exploration projects. Any historical grab samples disclosed are selected samples and may not represent true underlying mineralization.1 Vital Battery Metals Announces Effective Date of Name Change to Aventis Energy Inc., News Release, May 9, 2025. 2 Mineral Assessment Report 64E13-0054: Norbaska Mines Ltd., 1979-1980 3 SMDI# 2052: & Mineral Assessment Report MAW00047: Eagle Plains Resources Inc., 2011-2012 4 Standard Uranium Provides Exploration Update Highlighting Results of Gravity and TDEM Surveys on Three Eastern Athabasca Uranium Projects, News Release, March 13, 2025. 5 Vital Battery Metals Drills 20.5m of 1.21% Cu Including 5.0m of 2.22% Cu at Sting Copper Project., News Release, January 14, 2025. About Aventis Energy Inc. Aventis Energy Inc. (CSE: AVE | OTC: VBAMF) is a mineral exploration company dedicated to the development of strategic projects comprised of battery, base and precious metals in stable jurisdictions. The Company is working to advance its Corvo Uranium & Sting Copper Project. The Corvo Uranium property has historical drill holes intersected multiple intervals of uranium mineralization, notably along a strike length of 800 metres between historical drill holes TL-79-3 (0.116% UO over 1.05 m) and TL-79-5 (0.065% UO over 0.15 m). High-grade* Uranium at Surface with the Manhattan showing (1.19 to 5.98% UO) and SMDI showing 2052 (0.137% UO and 2,300 ppm Th) The Sting Copper Project covers approximately 12,700 hectares and recently had results of 54.8m at 0.32% Cu starting at a depth of 27.0m, with higher-grade intervals including six samples (≥0.5m length) ranging from 0.96% to 5.43% Cu. High grade samples of 0.5m at 2.85% Cu and 0.5m at 1.92% Cu with an additional broader interval of 31.1m at 0.27% Cu.5 On Behalf of the Board of Directors Mandeep ParmarInterim Chief Executive Officer, Director+1 (604) 229-9772info@ Disclaimer for Forward-Looking Information Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Forward looking statements in this news release include, but are not limited to, statements respecting: the provision of the Services by RMK under the Agreement. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release. Photos accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
02-04-2025
- Business
- Globe and Mail
US-Canada Tariff Standoff Could Ignite a Uranium Price Spike
Uranium has become a flashpoint in an escalating trade battle between the US and Canada—one that could have far-reaching consequences for nuclear energy and supply chains. Canada supplies more than a quarter of the uranium used to power US nuclear reactors, making it a critical energy partner. However, looming tariffs on energy imports—including uranium—could disrupt this relationship and send prices higher. While the Biden administration has delayed the decision until April 2, a potential 10% tariff could trigger a similar rise in uranium prices, according to Cameco CFO Grant Isaac. As one of Canada's leading uranium producers, Cameco is closely watching the situation unfold. The US has been aggressively pushing to expand its domestic uranium production, a move supported by bipartisan lawmakers and major tech giants like Google and Microsoft, which are investing heavily in nuclear energy to power AI-driven data centers. However, there's a major hurdle—while Canada holds approximately 10% of the world's uranium reserves, the US controls just 1%. This disparity has created a growing demand for new uranium sources, particularly within North America. As the US moves to secure its energy future, junior exploration companies are stepping into the spotlight, positioning themselves to fill the gap in supply. As the US works to secure its uranium supply, companies like Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) are strategically positioning themselves to benefit from the rising demand for uranium. With an active portfolio of exploration projects, Azincourt Energy is poised to play a critical role in the evolving uranium market. Let's take a closer look at Azincourt 's approach to uranium exploration in this rapidly changing environment. A Rising Player in Uranium Exploration Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) is a junior uranium exploration company strategically positioned to capitalize on growing nuclear fuel demand. With high-potential projects in Canada's top uranium-producing regions, the company is well-placed to benefit from rising global energy needs and geopolitical shifts. At the center of Azincourt Energy 's strategy is the Snegamook Uranium Project, a 423-hectare property located in Labrador's Central Mineral Belt—one of Canada's most promising but underexplored uranium regions. Strategically positioned near Paladin Energy's Michelin Deposit, one of the largest known uranium discoveries in Eastern Canada, Snegamook benefits from a geological setting that suggests strong resource potential. Despite the region's uranium-rich nature, past exploration has been limited, leaving substantial room for discovery. Historical drilling at Snegamook (2006-2008) has already confirmed uranium mineralization, with historical drilling uncovering multiple lenses of uranium mineralization over a 300-metre strike length and to a vertical depth of 200 metres, with grades ranging from 225 to 771 ppm U 3 O 8. Some zones contain higher-grade uranium concentrations (e.g., 0.11% U3O8 over 3m).This suggests the presence of high-value deposits that could become increasingly attractive as global uranium demand intensifies. Snegamook is a prime candidate for further development, especially as uranium prices continue their upward trend. Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) is actively compiling historical data to refine its exploration strategy. As part of its ongoing efforts, the company is assessing drilling targets to expand on past discoveries and unlock Snegamook's full potential, with the goal of establishing an initial resource estimate in the near future. With North America in need of secure uranium supply and energy independence becoming a growing priority, Snegamook could emerge as a key uranium asset in the global market. In addition to Snegamook, Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) is advancing its East Preston Uranium Project, located in the Athabasca Basin—a region renowned for hosting some of the world's highest-grade uranium deposits. Situated near major uranium discoveries such as NexGen Energy's Arrow Deposit and Paladin Energy's Triple R Deposit, East Preston has attracted significant industry interest. Over $10 million has been invested into exploration since 2018, with multiple potential uranium-bearing structures identified across the property. In August 2024, drilling confirmed uranium enrichment in alteration zones, indicating that East Preston holds strong potential for further discovery. Given its location in one of the most productive uranium districts globally, East Preston remains a key long-term asset for Azincourt as the uranium market continues to evolve. Building on this, Azincourt announced a new geophysics program targeting the K and H Zones, where radon flux surveys will help refine upcoming drill targets. A winter 2026 drill program is also planned, with up to 1,500 meters of diamond drilling to follow up on earlier uranium-rich clay alteration discoveries. Led by experienced geologists with a track record of major uranium discoveries, Azincourt Energy stands out in a sector where many new entrants lack exploration expertise. This team, combined with prime exploration assets, gives the company a competitive edge as it advances its projects. With high-potential projects in two of Canada's richest uranium districts, Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF) is well-positioned for significant growth in 2025. As uranium prices rise and institutional interest grows, Azincourt 's assets are gaining value, positioning it as a company to watch in the coming years. Click on this link to learn more about Azincourt Energy Corp. (TSXV:AAZ) (OTCQB:AZURF). Featured Image @ iStock Disclaimer 1) The author of the Article, or members of the author's immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Azincourt Energy Corp. Market Jar Media Inc. was paid $1,500 for the production and publishing of this article by Azincourt Energy Corp.'s Digital Marketing Agency of Record (Native Ads Inc.). 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Yahoo
01-04-2025
- Business
- Yahoo
Skyharbour Partner Company Terra Clean Energy Completes Winter Drill Program with Encouraging Results and Prepares a Significant Summer Drill Program at the South Falcon East Uranium Project
Vancouver, BC, April 01, 2025 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) ('Skyharbour' or the 'Company') is pleased to announce that partner company Terra Clean Energy Corp. ('Terra', previously Tisdale Clean Energy) announced the completion of the winter drill program at the South Falcon East Uranium Project (the 'Property') which hosts the Fraser Lakes B Uranium Deposit. The Property lies 18 km outside the edge of the Athabasca Basin, approximately 50 km east of the Key Lake Uranium Mill and former mine. Skyharbour optioned the Project to Terra and under the Option Agreement assuming the 75% interest is earned, Terra will fund exploration expenditures totaling CAD $10,500,000, as well as pay Skyharbour CAD $11,100,000 in cash of which $6,500,000 can be settled for shares in the capital of Terra ('Shares') over the earn-in period. Map of South Falcon East Project Claims: Highlights: Six holes intercepted uranium mineralization Continuity across the deposit confirmed Drilling expands mineralized footprint Terra conducted a helicopter supported drill program at the Property with seven diamond drill holes completed for a total of 1,927m. The first three drill holes were reported in the press release dated March 10th, 2025. 'With uranium present in six of seven holes drilled this winter, and the east and west of the property now tied together with mineralization, this was a very successful program, and we believe we have added significant value to the Property,' said Greg Cameron CEO of Terra Clean Energy. 'We are seeing wider intervals of mineralization up to 75 metres and more consistent spikes of higher-grade uranium with 0.16% reported in Hole SF0065. The Fraser Lakes Uranium Deposit is shallow in nature making it ideal for an open pit scenario being only 150 metres below surface and not far from a powerline and Cameco's Key Lake Uranium Mill, making it a unique opportunity, especially in a rising uranium price environment. As we continue to add pounds of uranium and higher grades, this deposit becomes more and more valuable.' Hole SF0065 was drilled to follow up the results of SF0063, reported in the March 10th release. It was targeted to intersect the same mineralized pegmatites 60m to the northeast. The hole was completed to a depth of 282m and intersected a 75m wide zone of variably mineralized granitic pegmatites and zones within altered and graphitic pelitic gneiss. A summary of the major zones within this mineralization are shown in Table 1 with the main highlight being an equivalent grade of 0.02% eU3O8 over 17.5m from 204.9m to 222.4m, including 0.16% eU3O8 over 0.3m. A zone of clay alteration and bleaching was intersected from 59m to 68m. The presence of this alteration is a good indication that hydrothermal fluids suitable for deposition of higher-grade uranium deposits moved through the rocks. 2025 Drill Target Areas at the South Falcon East Uranium Project: Hole SF0066 was drilled to a depth of 302m, to follow the clay alteration and mineralized pegmatites to the northwest and assist in characterizing orientation of the clay alteration and associated structure. Drilling intersected a 50m interval containing multiple mineralized granitic pegmatites and zones within altered and graphitic pelitic gneiss. The most notable zone returned an equivalent grade of 0.03% eU3O8 over 3.4m from 214.4m to 217.8m, including 0.1% eU3O8 over 0.1m. The zone of strong clay alteration and bleaching was intersected from 57.5m to 67.5m. Based on oriented core data and intersections on three holes, this alteration package appears to be dipping to the north. Completed Drill Holes at South Falcon East Uranium Project: Hole SF0067 was drilled to a depth of 302m, to extend the mineralized pegmatite package to the north and confirm the interpreted north dipping orientation of the clay alteration. Drilling intersected a 70m interval containing multiple mineralized granitic pegmatites and zones within the altered and graphitic pelitic gneiss package. This interval is noted for the larger number of higher-grade spikes at or above 0.1% eU3O8 intersected compared to the previous drilling in this program. Down-hole gamma logging returned equivalent grades of 0.03% eU3O8 over 4.0m from 219.8m to 223.8m, including 0.13% eU3O8 over 0.2m and 0.01% eU3O8 over 5.5m from 233.7m to 239.2m, including 0.06% eU3O8 over 0.2m in the two widest intervals. The zone of strong clay alteration and bleaching was intersected from 66.5m to 73.5m. Drilling has now extended the deposit to the north and northeast and is still open in this direction. It is interpreted that the clay altered structural zone identified in SF0063, SF0065, SF0066 and SF067 is dipping to the north and will intersect the mineralized and hematite altered graphitic pelitic gneiss and pegmatites approximately 120m to 150m north of the current drilling. A follow-up drill program is currently being planned to test this upgraded target area for a higher-grade unconformity related basement-hosted uranium deposit and additional mineralized pegmatites where these structures and alteration all intersect. 'I'm very excited to announce we will be conducting a summer drilling program to follow up on the significant results received. We believe we have started to define a new structure on the northeast side of the Property and are hopeful a basement-hosted unconformity uranium deposit, similar to Eagle Point and Rough Rider, is present. Our strategy moving forward is to both increase the size and grade of the Fraser Lakes B deposit and to add additional discoveries to this historical resource,' said Mr. Cameron. 'The results from this drilling program are very encouraging. Drilling has shown that the deposit is still open down dip to the northwest, north and northeast,' commented Trevor Perkins, Vice President of Exploration for Terra. 'The presence of clay alteration within a structure on the northeast side has upgraded this area. Where this clay alteration intersects the mineralized conductive package is an exciting target as this can bring together many of the key features associated with the known basement-hosted unconformity deposits in the Basin,' continued Mr. Perkins. One hole, SF0064, was completed to 239m in the T-Bone Lake area to examine the conductive package and alteration intersected in the area in historical drilling. An extensive package of graphitic metasediments was intersected in this area, characterizing the conductive package. Weak alteration was noted, however no elevated radioactivity was identified. The optimal target in the T-Bone Lake area was not intersected. Table 1: Mineralized Intersections in Final Three Holes at South Falcon East Project: Samples of the mineralized intervals within the drill core have been collected and shipped for analysis at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan. Terra will provide more detailed results once geochemical analysis of the collected core samples is completed, reviewed and confirmed. South Falcon East Project Summary: The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and covers approximately 12,464 hectares. It lies 18 km outside the Athabasca Basin, approximately 50 km east of the Key Lake Mine. Historical exploration at the South Falcon East Project identified an area of U-Th-REE mineralization at the Fraser Lakes Zone B over an area comprising 1.5 km by 0.5 km along an antiformal fold nose cut by an east-west dextral ductile-brittle cross-structure adjacent to a 65 km long EM conductor. QA/QC, Radiometric Equivalent Grades and Spectrometer Readings: All drill intervals above are downhole length and sampling procedures and QA/QC protocols for geochemical results as well as a description of downhole gamma probe grade calculations and protocols are below. All drill core samples are shipped to the Saskatchewan Research Council Geoanalytical Laboratories ('SRC') in Saskatoon, Saskatchewan under the care of Terra personnel for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO3:HClO4) and partial digestion (HNO3:HCl), boron by fusion, and U3O8 wt% assay by ICP-OES using higher grade standards. Assay samples are chosen based on visual inspection, downhole probing radiometric equivalent uranium grades, and scintillometer (Radiation Solutions RS-125) peaks. Assay sample intervals comprise 0.5 to 1.0 m continuous half-core split samples over the mineralized interval. These samples may also be selected for density determination using the lost wax method. With all assay samples, one half of the split sample is retained and the other sent to the SRC for analysis. SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats are inserted into the sample stream at regular intervals by Terra and SRC in accordance with Terra's quality assurance/quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by Terra prior to disclosure. During active exploration programs, drillholes are radiometrically logged using calibrated downhole Mount Sopris 40TGU or 2GHF probes of varying sensitivities which collect continuous readings along the length of the drillhole. Preliminary radiometric equivalent uranium grades ('eU3O8') are then calculated from the downhole radiometric results. The probe is calibrated using an algorithm calculated from the calibration of the probe at the SRC facility in Saskatoon and from the comparison of probe results against geochemical analyses. In the case where core recovery within a mineralized intersection is poor or non-existent, radiometric grades are considered to be more representative of the mineralized intersection and may be reported in the place of assay grades. Radiometric equivalent probe results are subject to verification procedures by qualified persons employed by Terra prior to disclosure. Qualified Person: The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, VP of Exploration for Skyharbour as well as a Qualified Person. About Terra Clean Energy Corp.: Terra Clean Energy (formerly Tisdale Clean Energy Corp) is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which hosts an inferred uranium resource within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada. About Skyharbour Resources Ltd.: Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with interest in thirty-six projects covering over 614,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced-stage uranium exploration property with high-grade uranium mineralization in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is operator with joint-venture partner RTEC. The project hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling programs. Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and Thunderbird Resources at the Preston, East Preston, and Hook Lake Projects, respectively. The Company also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; CSE-listed Mustang Energy at the 914W Project; and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now signed earn-in option agreements with partners that total to over $36 million in partner-funded exploration expenditures, over $20 million worth of shares being issued, and $14 million in cash payments coming into Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects. Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. Skyharbour's Uranium Project Map in the Athabasca Basin: To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company's website at SKYHARBOUR RESOURCES LTD. 'Jordan Trimble'__________________________________Jordan TrimblePresident and CEO For further information contact myself or:Nicholas ColturaInvestor Relations Manager Skyharbour Resources Ltd. Telephone: 604-558-5847 Toll Free: 800-567-8181 Facsimile: 604-687-3119 Email: info@ NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE. The securities offered 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 U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction. This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements, including the Private Placement. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, regulatory approvals, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at for further information. Sign in to access your portfolio
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31-03-2025
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Acquisition of Pine Ridge Uranium Project in Wyoming Supports U.S. National & Energy Security Objectives
Winnipeg, Manitoba--(Newsfile Corp. - March 31, 2025) - Snow Lake Resources Ltd., d/b/a Snow Lake Energy (NASDAQ: LITM) ("Snow Lake"), a uranium exploration and development company, announces that the 50/50 joint venture (the "Joint Venture") with Global Uranium and Enrichment Limited ("GUE") (ASX: GUE), to acquire 100% of the Pine Ridge Uranium Project ("Pine Ridge") in the Powder River Basin in Wyoming, United States, directly supports the United States' national and energy security objectives. Highlights U.S. National & Energy Security Objectives: Uranium supply chain vulnerabilities create national and energy security risks for the U.S. The U.S. currently produces only 0.02% of global uranium production, and is therefore almost entirely dependent on foreign suppliers of uranium The U.S. has only one commercially operating uranium enrichment plant, with limited capacity, resulting in reliance on foreign suppliers Next generation advanced nuclear reactors will require fuel enriched to higher concentrations Pine Ridge Supports U.S. National & Energy Security Objectives: The acquisition of Pine Ridge by Snow Lake and GUE directly supports U.S. national and energy security objectives by advancing a U.S. domestic uranium project of potentially significant scale through further stages of development: Pine Ridge is located in Wyoming's Powder River Basin and is an advanced In-Situ Recovery (ISR) uranium project primed for rapid development Wyoming is the leading uranium-producing region in the United States, supported by a favourable regulatory environment and streamlined permitting processes Pine Ridge is a uranium project of potential significant scale with a large JORC 2012 exploration target. For more information on this exploration target see GUE's ASX Announcement dated March 12, 2025 Pine Ridge is surrounded by global-scale uranium projects held by UEC and Cameco, including Cameco's Smith Ranch Uranium Mill, which is located just 15km away, with a licensed capacity of 5.5M lbs U3O8 Ubaryon Next-Generation Enrichment Technology: GUE, in which Snow Lake will hold a 19.99% interest, holds a cornerstone position in Ubaryon Pty Ltd, a private Australian company, developing an innovative uranium enrichment technology:[1] 100% ownership of an enrichment technology based on the chemical separation of naturally occurring uranium isotopes Currently running a structured process to find a potential strategic partner towards securing funding for ongoing development of its business Key motivation to secure a strategic partner is to enable future commercialization of the technology in one of the most highly regulated industries in the world Government approval received for appropriate security approved independent experts to review the details of the technology CEO Remarks "The Trump Administration is focusing on national and energy security, and in particular the vulnerabilities of the uranium supply chain," said Frank Wheatley, CEO of Snow Lake. "Given the United States is largely dependent on foreign countries for it supply of uranium, the new administration is focusing its efforts on initiatives designed to expand domestic production of uranium in the United States. With the Powder River Basin in Wyoming being one of the preeminent uranium producing regions in the United States, coupled with advanced stage of development of Pine Ridge, we strongly believe that Pine Ridge holds the potential to contribute to U.S. domestic production of uranium. Our strategic 19.99% investment in GUE, coupled with GUE's cornerstone investment in Ubaryon, holds the potential to begin to address the lack of uranium enrichment capacity in the United States, and in particular, the production of high-assay low-enriched uranium required for the next generation of advanced nuclear reactors." Uranium Supply Chain[2] The uranium-to-nuclear fuel supply chain in lengthy, complex and full of vulnerabilities from mine to nuclear reactor. Mining: Uranium is mined primarily in Kazakhstan (43%), Canada (15%), Namibia (11%), Australia (9%), Uzbekistan (7%) and Russia (5%). The United States import 90% of its mined uranium ore requirements. Milling: After mining, the ore is milled into triuranium oxide (U3O8), referred to as yellow cake. Global yellow cake production is dominated by Kazakhstan (39%), Canada (20%), Namibia (12%), Australis (9%), Uzbekistan (7%) and Russia (5%). The United States is 95% dependent on foreign suppliers for yellow cake (U3O8). Enrichment: Yellow cake is then enriched, and four companies dominate this stage in the nuclear fuel cycle: Rosatom in Russia, CNNC in China, Orano in France and the Urenco Group (British - German-Dutch). Collectively, they control 62.7% of global commercial uranium enrichment capacity. Nearly 67% of the United States' enriched uranium needs come from foreign suppliers. United States - Uranium Mining The United States mined 0.02% of global uranium production in 2022. In order to achieve its objectives of energy security, feed its nuclear energy and defense agendas, and strategic stockpiles of uranium, the United States must ramp up domestic uranium production through policies such as the Trump Administration's Executive Order entitled "Immediate Measures to Increase American Mineral Production" dated March 20, 205 (the "Executive Order"), designed to support domestic U.S. uranium mining.[3] Snow Lake believes the acquisition and development of Pine Ridge together with GUE, holds the potential to add to U.S. based domestic uranium production, thereby supporting the objectives of the Executive Order. United States - Uranium Enrichment Four non-U.S. companies control 62.7% of the world's commercial uranium enrichment capacity, ensuring tight control of this stage of the nuclear fuel cycle. The United States has only one commercially operating uranium enrichment plant, with limited capacity, and which is owned by one of these four companies.[4] Ubaryon Pty Ltd - Next-Generation Uranium Enrichment GUE's holds a cornerstone investment (21.9%) in Ubaryon Pty Ltd, a private Australian company, developing and commercializing a unique uranium enrichment technology based on the chemical separation of naturally occurring isotopes. This patented, next-generation enrichment technology, offers the potential for lower capital and operating costs in uranium enrichment. Ubaryon is a member of the World Nuclear Association (WNA), the American Nuclear Society (ANS), and is registered with the U.S.'s Nuclear Energy Institute (NEI). Ubaryon's operations are located at the Australian Nuclear Science and Technology Organization (ANSTO).[5] Snow Lake believes that as Ubaryon advances the development and commercializing of its enrichment technology, it holds the potential to begin to address the lack of uranium enrichment capacity in the U.S. About Global Uranium and Enrichment Limited Global Uranium and Enrichment Limited (GUE) is an Australian public listed company providing unique exposure to not only uranium exploration and development, but to the uranium enrichment space. Amid a nuclear energy renaissance, GUE is developing a portfolio of advanced, high grade uranium assets in prolific uranium districts in the United States and Canada, and has established a cornerstone position in Ubaryon Pty Ltd, an Australian uranium enrichment technology company. For more information on GUE, please refer to their website[6]. Snow Lake Resources Ltd. Snow Lake Resources Ltd., d/b/a Snow Lake Energy, is a Canadian mineral exploration company listed on (NASDAQ: LITM), with a global portfolio of clean energy mineral projects comprised of three uranium projects and two hard rock lithium projects. The Engo Valley Uranium Project is an exploration stage project located in the Skeleton Coast of Namibia, the Black Lake Uranium Project is an exploration stage project located in the Athabasca Basin, Saskatchewan, and the Buffalo Uranium Project is an exploration stage project in Wyoming, United States. The Shatford Lake Project is an exploration stage project located adjacent to the Tanco lithium, cesium and tantalum mine in Southern Manitoba, and the Snow Lake Lithium™ Project is an exploration stage project located in the Snow Lake region of Northern Manitoba. Learn more at Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements, including without limitation statements with regard to Snow Lake Resources Ltd. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will," "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Snow Lake Resources Ltd.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Some of these risks and uncertainties are described more fully in the section titled "Risk Factors" in our registration statements and annual reports filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Snow Lake Resources Ltd. undertakes no duty to update such information except as required under applicable law. Contact and Information Frank Wheatley, CEO Investor Relations Investors:ir@ Website: Follow us on Social Media Twitter: LinkedIn: [1] [2] Centre for Strategic & International Studies - February 5, 2025 [3] Immediate Measures to Increase American Mineral Production - The White House [4] Centre for Strategic & International Studies - February 5, 2025. [5] [6] To view the source version of this press release, please visit
