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14 hours ago
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Ridgeline Minerals Intersects up to 1.8 g/t Oxide Gold in Maiden Drill Program at the Atlas Project, Nevada
To view a summary of today's press release by Ridgeline CEO Chad Peters, click HERE Vancouver, British Columbia--(Newsfile Corp. - August 8, 2025) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to provide assay results for the maiden two-hole drill program at the Company's Atlas project, Nevada (Figure 1). Atlas is an early-stage Carlin-Type oxide gold prospect and is 100%-owned by the Company with no underlying work commitments or royalties. Details on the drill program are highlighted below. Mike Harp, Ridgeline's Vice President, Exploration commented, "We are pleased that our maiden drill program confirmed that our Atlas project exhibits both the scale and grade potential that's required to host a significant gold deposit. The first two drill holes at Atlas were completed in the northernmost section of a greater than four-kilometer gold trend. With a limited budget this year, our focus was testing the favourable Pennsylvanian to Permian age carbonate host rock section to confirm whether those host rocks showed evidence of a Carlin-Type gold system." Mr. Harp continues, "Both holes returned thick intercepts of anomalous oxide gold and Carlin-Type alteration, with hole AT25-001 exhibiting a stronger gold vector to the south than AT25-002. Hole AT25-001 intersected 298 meters of continuous Carlin-Type alteration and mineralization with elevated pathfinder elements, anomalous gold, and up to 1.8 g/t gold in individual samples." Mr. Harp concludes, "Mineralization at Atlas appears to be hosted within the same thick section of Pennsylvanian to Permian age host rocks that host Orla Mining's nearby Dark Star deposit. Our team interprets the first two holes as having intersected a low-grade gold and trace element halo that is typically associated with the outer margins of Carlin-Type gold deposits. We will continue to focus on land consolidation and additional field work throughout the remainder of the 2025 field season with the goal of a Phase II drill program in 2026 to follow up on these results." Drill Program HighlightsThe maiden program completed two core holes totaling 551 meters ("m") in the northern section of the Atlas land package. Drilling targeted favourable Pennsylvanian to Permian ("Penn-Perm") age debris-flow conglomerates, limestones, and siltstone host rocks along a roughly 1-kilometer ("km") trend of elevated gold-in-soils and rock chips grading up to 7.7 g/t Au (Figure 2). AT25-001 drilled to the east and down-dip of gold bearing and partially eroded Penn-Perm host rocks and intersected a highlight intercept of: 0.2 m grading 1.80 grams per tonne ("g/t") gold ("Au") and 2.10 g/t silver ("Ag") within 8.5 m grading 0.20 g/t Au and 0.52 g/t Ag starting at a true vertical depth ("TVD") of 80 meters (Figure 3 & Picture 1) Additional results include multiple 1.0 to 5.0-meter intercepts throughout the hole ranging from 0.1 to 0.5 g/t Au and 0.1- to 5.0 g/t Ag starting at 30m TVD Drilling also intersected high-grade silver intercepts within clay altered fault zones that returned 1.5m grading 75.1 g/t Ag and 0.5m grading 52.5 g/t Ag (Figure 3) The hole returned 297.9m grading 0.01 g/t Au, 0.41 g/t Ag and bottomed in anomalous Au mineralization AT25-002 was collared approximately 700m north of AT25-001 and drilled to the west towards the same gold bearing and partially eroded Penn-Perm host rocks and intersected a highlight intercept of: 5.9m grading 0.20 g/t Au and 2.43 g/t Ag starting at 124m TVD and; 2.6m grading 0.25 g/t Au and 2.59 g/t Ag within 9.8m grading 0.15 g/t Au and 2.20 g/t Ag starting at 182 m TVD (Figure 2) and; 1.4m grading 31.6 g/t Ag within a clay altered fault zone The top of AT25-001 intersected 106m of andesite (volcanic rocks) with the remainder of the hole drilling a partial section of Penn-Perm rocks that returned 147.6 m grading 0.01 g/t Au and 0.41 g/t Ag Geologic InterpretationBoth holes intersected a thicker than anticipated section of Penn-Perm debris-flow conglomerate host rocks (150-300m), which exhibited weak to strong Carlin-Type alteration and oxide mineralization throughout with both holes bottoming in oxide mineralization. Anomalous gold-silver and Carlin-type trace element pathfinders were observed throughout both drillholes with the highest values (up to 1.8 g/t Au and 75.1 g/t Ag) associated with strongly altered and mineralized Penn-Perm carbonate host rocks Compared to AT25-001, hole AT25-002 exhibited similar zones of widespread silicification, decalcification, and oxidation. However, AT25-002 returned weaker Au values overall Results from these two holes indicate a potential vector to the south where the intersection of a northeast and northwest trending fault corridor coincides with a kilometer-scale gold in soils and rock chip anomaly Figure 1: Ridgeline's 200-kilometer² exploration portfolio with Atlas located southwest of the Carlin Trend To view an enhanced version of this graphic, please visit: Figure 2: Plan view map of the Atlas project with Ridgelines 2025 drillholes testing the northern Atlas block To view an enhanced version of this graphic, please visit: QA/QC ProceduresSamples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Independent check samples are sent to Paragon Geochemical Labs (PAL) of Sparks, Nevada. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30g fire assay) and ICP-5AM48 (48 element Suite; 0.5g 5-acid digestion/ICP-MS) methods at AAL and analysed using a photon assay (Au-Ag, 500g) at Paragon. AAL and Paragon also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company's Qualified Person, Michael T. Harp, Vice President, Exploration. The technical information contained in this news release has been prepared under the supervision of, and approved by Michael T. Harp, CPG, the Company's Vice President, Exploration. Mr. Harp is a "qualified person" as defined under National Instrument 43-101 — Standards of Disclosure for Mineral Project. Figure 3: X-Section A-A' showing 297.7m of continuous Carlin-Type alteration and mineralization, which returned highlights intercepts grading up to 1.8 g/t Au and 75.1 g/t Ag in individual samples To view an enhanced version of this graphic, please visit: Picture 1: Core photos of AT25-001 showing variably altered, mineralized and pervasively oxidized debris flows and calcarenites of the Penn-Perm age Tomera Fm. To view an enhanced version of this graphic, please visit: Atlas ProjectAtlas is located in Eureka County, Nevada, approximately 30 kilometers southwest of the town of Carlin, NV. The property exhibits classic Carlin-Type alteration and gold mineralization within outcropping Pennsylvanian to Permian age carbonate to siliciclastic host rocks. The primary target at Atlas is a bulk tonnage, oxide, Carlin-Type gold system, which is analogous to the nearby Dark Star gold deposit (part of the greater Railroad Mining District), which is currently owned by Orla Mining and advancing towards mine development. The 100% owned Project is comprised of a total of six square kilometers of highly prospective exploration ground that has never been drill tested and will benefit from the Ridgeline teams' systematic approach to discovery. About Ridgeline Minerals Minerals is a discovery focused precious and base metal explorer with a proven management team and a 200 km2 exploration portfolio across seven projects in Nevada, USA. The Company is a hybrid explorer with a mix of 100%-owned exploration assets (Big Blue, Atlas, Bell Creek & Coyote) as well as two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects and a third earn-in with South32 at its Selena project. More information about Ridgeline can be found at On behalf of the Board "Chad Peters" President & CEO Further Information:Chad Peters, President, CEO & Director Ridgeline Minerals Corp.+1 775 304 9773cpeters@ Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release Cautionary Note Regarding Forward-Looking StatementsStatements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits of the Earn-In Agreement and the transaction contemplated thereby. The words "potential", "anticipate", "meaningful", "discovery", "forecast", "believe", "estimate", "expect", "may", "will", "project", "plan", "historical", "historic" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline's public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events To view the source version of this press release, please visit Sign in to access your portfolio
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4 days ago
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Forsys Announces Commencement of Expansion Drill Program at Namibplaas
TORONTO, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) ('Forsys' or the 'Company') Forsys is pleased to announce the commencement of a drill program comprising 64 drill holes at its Namibplaas uranium property ('Namibplaas' or the 'Property'), for approximately 12,500 metres ('m'), having now satisfied all regulatory and statutory requirements to access Portion-1 of farm Namibplaas No. 93, which was acquired by the Company's fully owned subsidiary Valencia Uranium (Pty) Ltd. in December 2024 (please refer to news release dated January 6, 2025). The Property hosts the Namibplaas uranium deposit under Exclusive Prospecting Licence (EPL-3638), which together with the Valencia uranium deposit under Mining Licence (ML-149) ("Valencia') comprise the Norasa Uranium Project ('Norasa')1 (see figure 1 below). The principal objectives of this program are to infill and upgrade the existing Namibplaas mineral resource to the Measured and Indicated category and test down dip mineralization potential (drill target 1: Area B (figure 2)); and to conduct reconnaissance drilling on new sites on EPL-3638 in Area A to evaluate the potential to expand Norasa's mineral resource base (drill target 2: Area A (figure 3)).Figure-1 Farm Namibplaas (EPL-3638), 3km northeast of Valencia deposit (ML-149) ______________________________________________________ The Norasa Uranium Project ('Norasa') is wholly owned by the Company's 100% subsidiary Valencia Uranium (Pty) Ltd. ('Valencia Uranium') and comprises Valencia uranium deposits ("Valencia') under a 25-year Mining Licence (ML-149) valid until 2033 and renewable and Namibplaas uranium deposit ('Namibplaas') (under EPL-3638), both located in the Erongo region of Namibia, Africa. Drill Target 1; Area-B The Company has planned a 44-drillhole ~9,350 m drill program (see figure 2 below) designed to identify and support a potential upgrade of the currently classified Inferred resource to Measured and Indicated by reducing the drill spacing and increasing the proportion of resource drill holes that have both downhole gamma and laboratory assay results. Currently, the overall Namibplaas resource is classified as Inferred due to a low ratio of XRF-assayed samples within an historic population of predominantly downhole gamma equivalent data. The majority of the 44 drillholes are planned along the eastern margin of the deposit. A further 12 drillholes (circa 1,915m) are planned for geotechnical drilling and geometallurgical sampling at Additional drillholes at Namibplaas Area B planned by MSA. (ground scintillometer overlay) Drill Target 2: Area-A The Namibplaas resource has been defined on the historic radiometric Anomaly-B (figure-2 above) whereas higher radiometric signatures occur approximately 2 km to the west at Anomaly-A (see figure 3 below). The strength of the Anomaly-A radiometric signature is attributed to prominent thorium concentration on surface, which was established from surface sampling. This target has potential to significantly augment the Norasa resource base in tonnage and grade. A further 1,000m in eight drillholes have been laid out to test drill Target 2 situated at Anomaly-A. There is a high total count of scintillometer signatures in parts of this area which bears significant potential for mineralization as the uranium is regularly leached out on surface, leaving mainly thorium in the outcrop. Anomaly-A lithologies are granitic, similar to the uranium deposits on the neighbouring farm Valencia and the rocks constituting Anomaly-B and the Namibplaas uranium resource. To date sampling has been limited to the surface and no drilling has taken place in the anomalous area. An initial reconnaissance drill program will test for uranium mineralization in fresh rock, below 50m depth. The target area has rugged terrain which necessitates some earthmoving and road building prior to mobilising drilling Namibplaas ground scintillometer survey superimposed onto aerial radiometric imagery. (Historic drillholes are shown as small dots, 2023 drilling as larger blue dots and planned holes over Anomaly A as white dots). The Company will provide further updates on its ongoing studies as they become available. The information in this release that relates to the Interim Drilling Results for the Norasa Project is based on information compiled or reviewed by Dr Guy Freemantle of The MSA Group (Pty) Ltd., Johannesburg, South Africa. The MSA Group are independent consultants to the Norasa Project, Namibia. Dr Freemantle holds a Bachelor of Science in Geology and a PhD in Geology, both at the University of the Witwatersrand. He is a member of the Society of Economic Geologists (892905); a Fellow of the Geological Society of South Africa (965392); and is registered with SACNASP (Registration 117527). Dr Freemantle has practiced his profession continuously for 14 years and has sufficient experience and knowledge that is relevant to the style of mineralization and type of deposits under consideration as well as to the activity that is being undertaken to fulfil requirements of a Qualified Person as per NI 43-101. Dr Freemantle consents to this release in the form and context in which it appears. _________________________________________________________________________________________________________ Forsys Metals Corp. (TSX: FSY, FSE: F2T, NSX: FSY) is an emerging uranium developer focused on advancing its wholly owned Norasa Uranium Project, located in the politically and uranium friendly jurisdiction of Namibia, Africa. The Norasa Uranium Project is comprised of the Valencia Uranium deposit (ML-149) and the nearby Namibplaas Uranium deposit (EPL-3638). Further information is available at the Company website On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Investor Relations. For additional information please contact: Pine van Wyk, Country Director, Forsysemail: pine@ R ichard Parkhouse, Investor Relationsemail: rparkhouse@ email: info@ information contained in this press release constitutes , within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR+ at The forward-looking statements included in this press release are made as of the date of this press release and Forsys Metals Corp disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Photos accompanying this announcement are available at
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23-07-2025
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Formation Metals Closes $2.33M at up to $0.50/Unit Increasing Exploration Budget to ~$5.1M, Expands Maiden Drill Program at the Advanced N2 Gold Project to Fully Funded 10,000 Metres
Highlights: Formation has planned a 20,000 metre multi-phase drill program at its flagship N2 Gold Project near Matagami, Quebec, host to a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4. Phase 1 has been expanded to a fully funded 10,000 metre program focusing on targets in the "A" zone, a shallow, highly continuous, low-variability historic gold deposit with ~522,900 ounces of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to high-grade intercepts from historical drill holes as high as 51 g/t Au over 0.8 metres2, which was expanded by Agnico Eagle Mines in 2008 in the most recent drilling at the Property. Formation anticipates commencing its drill program in early August. Formation will also focus on N2's significant base metal potential, where it recently completed a revaluation process which revealed significant copper and zinc intercepts within historic drillholes with significant gold grades (>1 g/t Au). The Company has closed ~$4M across two tranches, bringing its working capital to ~C$5M with zero debt. Inclusive of provincial tax credits from the Quebec government, Formation's exploration budget for 2025-2026 is set at ~$5.1M, putting it in a very strong financial position to execute its exploration programs. Formation is now funded to complete the $5M work commitment required to earn-in to 100% of the N2 Gold Project within two years, four years ahead of schedule. VANCOUVER, BC / / July 23, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce that it has elected to expand its maiden drill program at its N2 Gold Property ("N2" or the "Property"), located 25 km south of Matagami, Quebec, to a fully funded 10,000 metres following the successful closing of ~$4M. The Company anticipates commencing on the program in early August, having officially filed its Annual Exploration Work Notice ("Planification Annuelle Des Travaux d'Exploration") with the responsible municipal authorities for its upcoming 2025 exploration activities on June 17, 2025. This filing must be completed 30-days in advance of the commencement of fieldwork and ensures compliance with regulatory requirements and reflects the Company's continued commitment to transparency, community engagement, and responsible mineral exploration practices. The work program will focus on advancing key targets across Formation's Quebec-based properties. The 10,000 metres comprising Phase 1 is part of its planned 20,000 metre multi-phase drill program at N2, an advanced gold project with a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4. Deepak Varshney, CEO of Formation Metals, stated, "We are very grateful for the support Formation has received from new and past shareholders. With over five million in working capital, Formation is now positioned to commence on the most aggressive drill program our company has embarked on to date, with 10,000 metres fully funded for 2025. This financing secures Formation's future with the N2 Gold Deposit as we will be funded to complete the work requirements of our six-year option within the first two years, four years ahead of schedule." Mr. Varshney continued: "We are very excited to commence our maiden drill program at N2. Based on our on-going review and planning for Phase 1, we feel comfortable in expanding our maiden drill program to a fully funded 10,000 metres. Given the scale of the property, the compelling geological data, and the Abitibi Greenstone Belt's established history as a hotbed for gold mining, we are hopeful that the program will deliver our goal of delivering a near-surface multi-million-ounce deposit at N2. We see the potential for a significant gold deposit at N2, and our maiden 10,000-metre drilling program will mark the beginning of Formation's pursuit of that goal. Our maiden program will focus on building on the successes of our predecessors. The drilling discoveries made by Agnico-Eagle and Cypress show the potential at N2. With gold at over $3,400, over 4 times the price in 2008 when Agnico last drilled the project, we believe that the timing is perfect for N2 and look forward to a very busy upcoming field season." Comprising 87 claims totaling ~4,400 ha within the Abitibi sub province of Northwestern Quebec, Formation's flagship N2 Gold Project is an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2,4. There are six primary auriferous mineralized zones in total, each open for expansion along strike and at depth. Compilation and geophysical work by Balmoral Resources Ltd. (now Wallbridge Mining) from 2010 to 2018 generated numerous targets that have not yet been investigated with diamond drilling. The drill program is designed to focus on discovery drilling at new high-potential targets along the mineralization strikes at the "A", "RJ" and "Central" zones in the northern part of the Property in order to discover new auriferous trends and unlock new zones of gold mineralization. The program will also focus on high-priority infilling and expansion targets in these zones to significantly enhance the auriferous zones identified to-date (Figure 1). Historical highlights from the top two priority zones include: A Zone: With a historical resource of ~522,900 gold ounces (10.7 Mt @ 1.52 g/t Au), the "A" Zone is a shallow, highly continuous, low-variability historic gold deposit with ~15,000 metres of drilling across 55 drillholes, 84% of which intercepted gold mineralization. The best historical intercept includes up to 1.7 g/t over 35 metres. ~1.65 km of strike has been drilled, with 3.1+ km of strike to be tested as part of the 20,000 metre program. RJ Zone: With a historical resource of ~61,100 gold ounces (243 Kt @ 7.82 g/t Au), the "RJ" Zone is a high-grade target that was expanded upon in the last drill program in 2008 by Agnico-Eagle when gold was approximately ~$800/oz. Historically, 20,875 metres has been drilled over 82 drillholes, with best intercepts of 48 g/t over 0.5 metres and 16.5 g/t over 3.6 metres. ~900 metres of strike has been drilled, with 4.75+ km of strike to be tested as part of the 20,000 metre program. The Company also believes that N2 has significant base metal potential, where it recently completed a revaluation process which revealed significant copper and zinc intercepts within historic drillholes known to have significant gold grades (>1 g/t Au). Assay results range from 200 to 4,750 ppm and 203 ppm to 6,700 ppm, for copper and zinc, respectively, indicating strong potential for elevated base metal (Cu-Zn) concentrations across the property, specifically at the A and RJ zones. Property wide geology at N2 features volcanic and sedimentary rocks formed in regional anticlinal and synclinal flexures. Three principal deformation structures (Figure 1), oriented along the known NW-SE to WNW-ESE structural trends typical of VMS deposits in the Matagami region, function as critical geologic controls for mineralization on the property. For the 2025 exploration season, Formation plans to concentrate its efforts on the northern part of N2, targeting gold deposit expansion and discovery along identified zones and fault systems associated with the main deformation features (specifically WNW-ESE trend), with IP surveys and drilling planned to model mineralized zones that will hopefully contribute to an updated NI-43 101 compliant resource. Formation will also look to further review historic base metal assays from older drill core and undertake additional work in 2025 to assess the property's copper and zinc potential. The Company is pleased to announce that it has closed tranches of its non-brokered private placements raising total gross proceeds of $2,334,400.03 through the issuance of (i) 1,434,000 flow-through units (the "Units") at $0.35 per Unit (the "FT Offering"), (ii) 1,724,138 charity flow-through units (the "CFT 4MH Unit") at $0.435 per CFT 4MH Unit (the "CFT 4MH Unit Offering"), and (iii) 2,185,000 charity flow-through units (the "CFT Units") at $0.50 per Charity FT Unit (the "LIFE Offering"). Each Unit consists of one flow-through common share (each a "FT Share") of the Company, and each FT Share qualifies as a "flow-through share" as defined in section 66(15) of the Income Tax Act (Canada), and one transferable common share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to purchase one additional common share (a "Warrant Share") at an exercise price of $0.60 per Warrant Share for a period of two (2) years from the date of closing of the Private Placement (the "Expiry Date"). In connection with the FT Offering, the Company paid finder's fees of $35,133 cash and 29,680 non-transferable finder's warrants (each a "Finder's Warrant") to arm's length parties, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange ("CSE"). The Finder's Warrants are exercisable at $0.60 per Share until the Expiry Date. The Company closed the first tranche of the FT Offering of Units at $0.35 on June 13, 2025 issuing 4,701,286 Units for proceeds of $1,645,450.10. The FT Offering was oversubscribed by 421,001 Units. The securities issued in connection with the Unit Offering are subject to a statutory hold period of four months following the date of issuance in accordance with applicable Canadian securities laws. Each CFT 4MHUnit consists of one Share (a "CFT 4MH Share") and one common share purchase warrant (a "CFT 4MH Warrant"), with each CFT 4MH Warrant exercisable to acquire one Warrant Share at an exercise price of $0.60 until the Expiry Date. Each CFT 4MH Share qualifies as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada). In connection with the CFT 4MH Unit Offering, the Company paid finder's fees of $17,723.97 cash and 56,700 non-transferable Finder's Warrants to arm's length parties, in accordance with applicable securities laws and the policies of the CSE. The Finder's Warrants are exercisable at $0.60 per Share until the Expiry Date. The securities issued in connection with the CFT 4MH FT Offering are subject to a statutory hold period of four months following the date of issuance in accordance with applicable Canadian securities laws. In addition, the Company announces that it has increased its CFT 4MH Unit Offering by an additional 2,298,850 per CFT 4MH Unit at $0.435 per CFT 4MH Unit for additional gross proceeds of up to $1,000,000 to be raised pursuant to a second tranche. The Company expects the second tranche of the CFT 4MH Unit Offering to close on or about July 28, 2025. Each CFT Unit consists of one Share (a "LIFECFT Share") and one common share purchase warrant (a "LIFE Warrant") with each LIFE Warrant exercisable to acquire one additional Share of the Company at an exercise price of $0.60 until the Expiry Date. Each LIFE CFT Share qualifies as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The LIFE Offering was conducted under the listed issuer financing exemption as per Part 5A of National Instrument 45-106 - Prospectus Exemptions to qualified investors in Canada. As a result, the securities issued in the LIFE Offering are not subject to a hold period under the prevailing Canadian securities laws. In connection with the LIFE Offering, the Company filed an Offering Document (the "Offering Document") dated July 6, 2025, as amended on July 10, 2025, which is available on the Company's SEDAR+ profile at and on None of the securities issued in connection with the FT Offering, the CFT 4MH Unit Offering and the LIFE Offering are subject to the Exchange Hold (as defined under CSE Policy 1 Interpretation and General Provisions which definition became effective May 22, 2025), required in certain circumstances in accordance with Policy 6 Distributions and Corporate Finance of the CSE. The Company intends to use the net proceeds of the Offerings for fieldwork at the Company's exploration projects and, in the case of the net proceeds from the LIFE Offering, as more particularly set out in the Offering Document. Qualified person The technical content of this news release has been reviewed and approved by Mr. Babak Vakili Azar, an independent contractor and a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionor were reviewed by the qualified person. The information provided has not been verified and is being treated as historic. About Formation Metals Inc. Formation Metals Inc. is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high-upside and expansion potential. Formation's flagship asset is the N2 Gold Project, an advanced gold project with a global historic resource of ~870,000 ounces (18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4) and six mineralized zones, each open for expansion along strike and at depth including the "A" zone, of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to historical high-grade intercepts as high as 51 g/t Au over 0.8 metres. FORMATION METALS INC. Deepak Varshney, CEO and Director For more information, please call 778-899-1780, email info@ or visit Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Notes and References: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property. The above referenced resource estimates do not have a category, are considered historical in nature, and are based on prior data prepared by a previous property owner, and do not conform to current CIM categories. While the Company considers the estimates to be reliable, a qualified person has not done sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the Company is not treating the historical estimates as a current resource. A 0.5 g/t Au cut-off was used in the preparation of the historical estimates with a minimum 2.5 metre mining width. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. The Company is not aware of any more recent estimates prepared for the N2 Property. Needham, B. (1994), 1993 Diamond Drill Report, Northway Joint Venture, Northway Property; Cypress Canada Inc.; 492 pages. Guy K. (1991), Exploration Summary May 1, 1990 to May 1, 1991 Vezza Joint Venture Northway Property; Total Energold; 227 pages. Forward-looking statements: This news release includes "forward-looking statements" under applicable Canadian securities legislation, including statements respecting: the Company's plans for the Property and the expected timing and scope of the 2025 drilling program at the Property; the Company's goal of delivering a near-surface multi-million-ounce deposit the Property; the Company's anticipated timeline with respect to the Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN); the Company's view that the Property has the potential for over three million ounces of gold; the 10,000-metre drilling program marking the beginning of the Company's pursuit of that goal; and statements respecting the Offerings and the expected use of proceeds therefrom. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned that such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. No Offer or Solicitation to Purchase Securities in the United States This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act ("Regulation S"), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. Not for distribution to United States newswire services or for dissemination in the United States. 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 U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of, persons in the United States or U.S. Persons nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. SOURCE: Formation Metals View the original press release on ACCESS Newswire
Yahoo
21-07-2025
- Business
- Yahoo
Skyharbour Partner Company Terra Clean Energy Announces Immediate Follow-Up Summer Drill Program on the Back of Drill Results from Winter Program at South Falcon East Uranium Project
Vancouver, BC, July 21, 2025 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQX: SYHBF) (Frankfurt: SC1P) ('Skyharbour' or the 'Company') is pleased to report that its partner company Terra Clean Energy Corp. ('Terra', previously Tisdale Clean Energy) announces results from its Winter 2025 drill program and provides an update on the upcoming summer 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 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: Winter 2025 Assay Results: Terra conducted a helicopter-supported drill program at the South Falcon East Property earlier in the year. Seven diamond drill holes were completed at the Fraser Lakes B Uranium Deposit, for a total of 1,927 metres. The initial results of these drill holes were reported in press releases dated March 10, 2025, and April 1, 2025. During the winter drill program, 682 samples were submitted for geochemical analysis at the Geoanalytical Laboratory at the Saskatchewan Research Council in Saskatoon, Saskatchewan. Results have been received and compiled, with the results presented in Table 1. Results highlight several wide zones of uranium mineralization in holes SF0063, SF0065, SF0066, and SF0067, which were drilled to test an inferred NW-SE trending fault cutting through the Fraser Lakes B Uranium Deposit (Figure 2). The easternmost hole, SF0065, returned 18.1 metres at 0.03% U3O8, including a subinterval of 0.12% U3O8 over 1.6 metres. Another interval within this hole returned 0.13% U3O8 over 0.51 metres within a 3.72 metres interval that ran 0.09% U3O8. The northernmost hole, SF0067, returned 3.87 metres at 0.05% U3O8, including a subinterval of 0.17% U3O8 over 0.5 metres. This 0.5-metre interval represents the best sample of the program. Another interval within this hole returned 0.03% U3O8 over 8.05 metres, with 0.16% U3O8 over a 0.5 metre interval within. The best intersections of the program, which are some of the better intersections for both grade and width within the deposit, remain open to the north and the east. When compared with previously released equivalent uranium (%eU3O8) results from the downhole gamma logging, the lab results typically highlight wider intervals of mineralization with higher grades than those identified by the probe. It is not unexpected or unusual for the lab results to be higher than the equivalent gamma results. The variation can be on average, +5% to +30% higher. Table 1: Winter 2025 Results from the Fraser Lakes B Deposit at the South Falcon East Uranium Project: The typical pathfinder elements used to vector towards uranium in the Basin, including cobalt (Co), nickel (Ni), copper (Cu), lead (Pb), and zinc (Zn), all appear elevated within the metasedimentary package hosting the mineralized pegmatites, particularly Co and Ni. Elevated Pb is closely associated with elevated uranium. Hole SF0067 contains some of the higher pathfinder values, indicating another vector towards the north. 'The results from the winter drilling program are very encouraging', commented Trevor Perkins, Vice President of Exploration for Terra. 'The thick mineralized intersections within the pegmatites and graphitic sediment package are a good sign. The fact that the grades are improving to the north along the NW fault shows that we are moving in the right direction for a higher-grade discovery', continued Mr. Perkins. 'These are some of the best drill results to date at South Falcon,' said Greg Cameron, CEO of Terra. 'The drills returned multiple hits, and an 18-metre run of uranium at the established grade of the deposit is a significant and positive development. Several holes returned higher-grade values, including as much as 466 percent greater than the deposit average. These results indicate our plan to increase the size and grade of the deposit is both sound and compelling. Drilling will continue almost immediately, and we're excited to see what the next phase reveals,' continued Mr. Cameron. Upcoming Summer 2025 Drill Program: Terra is planning an extensive follow-up drill program this summer, consisting of approximately 2,500 metres of drilling. The purpose is to test an area highlighted in the winter 2025 program, where it is interpreted that a north-northwest-trending brittle structure, a north-dipping structure with strong clay alteration, and mineralized pegmatites with hydrothermal hematite alteration hosted in graphitic pelitic gneiss all intersect. This places many of the indicators identified as being key components for higher-grade uranium mineralization all in the same location. It is generally accepted that for higher-grade uranium deposits in the Athabasca Basin, you require several key indicators: graphitic metasediments, brittle reactivated basement structures, reducing fluid (indicated by clay alteration), and oxidizing fluid (indicated by hematite alteration, transports uranium). All these features have now been identified in the Fraser Lakes B deposit area. The location where they are projected to intercept is considered a top-priority target area for the discovery of a higher-grade unconformity-related, basement-hosted uranium mineralization and additional mineralized pegmatites. The upcoming program will be a helicopter-supported drill program comprising seven to ten diamond drill holes targeting an area approximately 120 to 150 metres north of drill holes SF0063, SF0065, SF0066 and SF0067, which were completed during the winter program (Figure 2). The summer field program is anticipated to commence soon and the campaign will be executed by TerraLogic Exploration Inc. under the supervision of C. Trevor Perkins, Vice President of Exploration for Terra Clean Energy. Operations will be based out of a local contracting camp with helicopter support for the daily drilling activities. The expected budget for this program is anticipated to be C$2 million. Figure 2: Planned Summer Drilling Area and Completed Winter Drill Holes at South Falcon East Uranium Project: 'We are excited to get back in there and test where the clay alteration intersects the mineralized zone and graphitic sediment package,' commented Trevor Perkins, Vice President of Exploration for Terra. 'This is an exciting target as it brings together many of the key features associated with the known basement hosted unconformity deposits in and around the Athabasca Basin', continued Mr. Perkins. South Falcon East Project Summary: The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour Resources Ltd.'s former South Falcon Project. The project covers approximately 12,464 hectares and is located 18 kilometres outside the Athabasca Basin, roughly 50 kilometres east of the Key Lake mill. The project hosts the Fraser Lakes B Uranium-Thorium Deposit, which contains a historical inferred resource of 6.9 million pounds U₃O₈ at an average grade of 0.03% U₃O₈ and 5.3 million pounds ThO₂ at 0.023% ThO₂. Mineralization is hosted in shallow, structurally disrupted metasedimentary rocks and pegmatites, displaying Athabasca-style basement-hosted characteristics and occurring in association with well-defined EM conductors. 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 the 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: 604-558-5847Toll Free: 800-567-8181Facsimile: 604-687-3119Email: 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 in to access your portfolio
Globe and Mail
21-07-2025
- Business
- Globe and Mail
CanAlaska Announces Start of Drill Program at the Constellation Uranium Project
Modern Airborne VTEM Survey and Ground Prospecting Programs Highlighted New Target Areas Drill Program is Fully Partner-Funded Under an Option Earn-In Agreement Saskatoon, Saskatchewan--(Newsfile Corp. - July 21, 2025) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7) (" CanAlaska" or the " Company") is pleased to announce commencement of the 2025 drill program on the Constellation uranium project (the "Project"). The 2025 Constellation drill program will focus on newly developed high-resolution airborne geophysical targets in combination with ground prospecting results. The drill program represents the first ever drill program on the Project. The Constellation Project is located in the southeastern Athabasca Basin 60 kilometres south of the Key Lake Mine and Mill Complex and covers 11,142 hectares (Figure 1). The drill program is currently being sole-funded by Bayridge Resources Corp. (CSE: BYRG) under an option earn-in agreement with the Company. To view an enhanced version of this graphic, please visit: 2025 Constellation Exploration Program The planned 1,100 - 1,400 metre drill program will consist of 3 to 4 drill holes testing multiple targets. Target areas have been generated based on the results from a recently completed helicopter-supported Versatile Time-Domain Electromagnetic (VTEM) survey and ground prospecting program on the Project. The VTEM survey identified and prioritized basement conductors, producing a series of high-priority drill targets. The ground prospecting program was highlighted by elevated uranium anomalies in two target areas (Figure 2). Figure 2 – Ground Prospecting and VTEM Survey Results To view an enhanced version of this graphic, please visit: The Constellation property has favourable geology for basement-hosted uranium deposits. Strong electromagnetic conductors are proven targets associated with unconformity and basement-hosted uranium mineralization in and around the Athabasca Basin. The recently confirmed VTEM conductors on the Constellation Project have never been drill tested. The Company believes the competency contrast of the electromagnetic conductors against the large rigid Archean granite inlier on the Project creates the potential for post-Athabasca structural reactivation. This structural reactivation can create important conduits for the movement of uranium-bearing hydrothermal fluids that interact with graphitic structural zones which may lead to favourable traps and the potential for uranium deposition. CanAlaska CEO, Cory Belyk, comments, "The Constellation project is a product of CanAlaska's ongoing project generator efforts. This project was staked in an area with geological attributes considered important for significant uranium deposition similar to Cameco's Eagle Point Mine and NexGen's Arrow deposits. I look forward to results from the first drillholes ever completed on this project that is very strategically located just 60 kilometres south of the Key Lake Mill." The Constellation project is currently being sole-funded by Bayridge Resources Corp (CSE: BYRG) under an option earn-in agreement with the Company that could see up to $5 million worth of exploration expenditures completed on the Project (See News Release Dated March 26th, 2024). Ground Prospecting and Mapping Results Target Area A - Prospecting and mapping results within Target Area A highlight a priority trend that contains multiple samples with elevated uranium concentrations correlating with mapped structural trends. The maximum uranium value within this trend was 52.5 ppm and is hosted in pegmatites conformable to the regional structural fabric. Target Area B - Prospecting and mapping results within Target Area B are highlighted by the highest uranium concentration from the prospecting program on the Project with a value of 488 ppm. The host rock within this target area consists primarily of psammitic to pelitic gneisses exhibiting pervasive hematite alteration that is locally associated with thin quartz bands. The gneisses, conformable to the regional structural trend, were intruded by a radiometrically elevated granite intrusion. The prospecting results within this target area directly overlie an interpreted VTEM conductor. Geochemical Sampling Procedures All rock chip samples were delivered to the Saskatchewan Research Council Geoanalytical Laboratories (SRC) in Saskatoon, Saskatchewan in secure containment for preparation, processing, and multi-element analysis by ICP-MS and ICP-OES using total (HF:NHO 3:HClO 4) and partial digestion (HNO 3:HCl), and boron by fusion. Geochemical grab samples were collected from outcrops or sub-crop and assigned to geostations. The SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks, standard reference materials, and repeats were inserted into the sample stream at regular intervals by TerraLogic and the SRC in accordance with Bayridge's quality assurance / quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by qualified persons employed by CanAlaska prior to disclosure. CanAlaska cautions investors that grab samples are select samples by their nature and may not necessarily be indicative of similar mineralization on the property. About CanAlaska Uranium CanAlaska is a leading explorer of uranium in the Athabasca Basin of Saskatchewan, Canada. With a project generator model, the Company has built a large portfolio of uranium projects in the Athabasca Basin. CanAlaska owns numerous uranium properties, totaling approximately 500,000 hectares, with clearly defined targets in the Athabasca Basin covering both basement and unconformity uranium deposit potential. The Company has recently concentrated on the West McArthur high-grade uranium expansion with targets in 2024 leading to significant success at Pike Zone. Fully financed for the upcoming 2025 drill season, CanAlaska is focused on Tier 1 Uranium deposit discovery and delineation in a safe and secure jurisdiction. The Company has the right team in place with a track record of discovery and projects that are located next to critical mine and mill infrastructure. The Company's head office is in Saskatoon, Saskatchewan, Canada with a satellite office in Vancouver, BC, Canada. The Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects for this news release is Nathan Bridge, MSc., P. Geo., Vice-President Exploration for CanAlaska Uranium Ltd., who has reviewed and approved its contents. On behalf of the Board of Directors "Cory Belyk" Cory Belyk, FGC CEO, President and DirectorCanAlaska Uranium Ltd. 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. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. 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. Actual events or results may differ materially from those projected in the forward-looking statements and the Company cautions against placing undue reliance thereon. The Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
