Stallion Uranium Corp. (the
"Company" or
"Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM40)
is pleased to announce that the Company has entered into a
non-binding letter of intent (the “LOI”), under which the Company
has granted an unnamed party (the “Optionor”) the option to acquire
a 100% interest in its Eastern Basin Projects, comprising seven (7)
mineral claims totalling approximately 10,874 hectares (25,870
acres) and located in the Province of Saskatchewan (the
“Property”).
“The sale of Stallion’s eastern Athabasca Basin
projects allow the Company to focus on our core projects in the
Western Athabasca Basin while seeing these projects advanced,”
commented Drew Zimmerman, CEO. “We think this transaction provides
both parties significant upside from a committed uranium
exploration program in the eastern basin Athabasca Basin”
Pursuant to the LOI, the Optionor may acquire a
100% interest in the Property by paying a total of $400,000 and
issuing an aggregate of 2,500,000 common shares in the capital of
the Optionor (the “Shares”) to the Company,
according to the following schedule:
- $400,000 on the
closing of the transactions contemplated in the LOI (the
“Closing Date”); and
- 500,000 Shares on the date which is 6
months following the Closing Date; and
- 500,000 Shares on the date which is 12
months following the Closing Date; and
- 500,000 Shares on the date which is 18
months following the Closing Date; and
- 1,000,000 Shares on the date which is
24 months following the Closing Date
The Company shall retain a royalty of three
percent (3%) of net smelter returns from minerals mined and removed
from the Property, of which the Optionor may purchase up to one and
one-half percent (1.5%) at any time prior to commercial production
on the Property as follows: $500,000 for one-half percent (0.5%);
$750,000 for an additional one-half percent (0.5%); and $1,000,000
for an additional one-half percent (0.5%).
The LOI shall terminate if the parties have not
entered into a definitive agreement within thirty (30) days of the
execution of the LOI. The definitive agreement is subject to the
receipt of any third-party consents or regulatory approvals,
including but not limited to any necessary stock exchange approvals
required by the Company or the Optionor, respectively.
Figure 1 – Stallion Uranium’s Eastern Basin
Projects
The projects are located in the Eastern
Athabasca Basin with the Wollaston and Mudjatik Supergroups. The
region has been the focus of uranium exploration over the last 50
years and is host to the world class Cigar Lake and McArthur River
Uranium Deposits which host over 550M pounds of uranium. Uranium
mineralization in the Eastern Athabasca Basin occurs in three
deposit types: unconformity-hosted uranium which occur at the
contact between the overlying Athabasca Basin and the crystalline
basement rocks, basement-hosted uranium which occur within the
basement rocks and sandstone-hosted uranium which occur perched in
the Athabasca sandstone. Uranium mineralization is structurally
controlled and utilizing the recent magnetic and electromagnetic
data, structural areas have been identified for continued
exploration.
Qualifying Statement:
The foregoing scientific and technical
disclosures for Stallion Uranium have been reviewed by Darren
Slugoski, P.Geo., VP Exploration, a registered member of the
Professional Engineers and Geoscientists of Saskatchewan. Mr.
Slugoski is a Qualified Person as defined by National Instrument
43-101.
About Stallion Uranium
Stallion Uranium is working to Fuel the Future
with Uranium through the exploration of over 3,000 sq/km in the
Athabasca Basin, home to the largest high-grade uranium deposits in
the world. The company, with JV partner Atha Energy (CSE:SASK),
holds the largest contiguous project in the Western Athabasca Basin
adjacent to multiple high-grade discovery zones.
Our leadership and advisory teams are comprised
of uranium and precious metals exploration experts with the capital
markets experience and the technical talent for acquiring and
exploring early-stage properties.
Stallion offers optionality with two gold
projects in Idaho and Nevada that neighbour world class gold
deposits offering exposure to upside potential from district
advancement with limited capital expenditures.
For more information visit stallionuranium.com or
contact:
Drew ZimmermanChief Executive
Officer778-686-0973info@stallionuranium.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains forward-looking
statements and forward-looking information within the meaning of
Canadian securities legislation (collectively, “forward-looking
statements”) that relate to the Company’s current expectations and
views of future events. Any statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always,
through the use of words or phrases such as “will likely result”,
“are expected to”, “expects”, “will continue”, “is anticipated”,
“anticipates”, “believes”, “estimated”, “intends”, “plans”,
“forecast”, “projection”, “strategy”, “objective” and “outlook”)
are not historical facts and may be forward-looking statements and
may involve estimates, assumptions and uncertainties which could
cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this material change report
should not be unduly relied upon. These statements speak only as of
the date they are made.
Forward-looking statements are based on a number
of assumptions and are subject to a number of risks and
uncertainties, many of which are beyond the Company’s control,
which could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward-looking
statements. The Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by law. New factors emerge from time to time, and it is not
possible for the Company to predict all of them, or assess the
impact of each such factor or the extent to which any factor, or
combination of factors, may cause results to differ materially from
those contained in any forward-looking statement. Any
forward-looking statements contained in this presentation are
expressly qualified in their entirety by this cautionary
statement.
Forward-looking statements are based on a number of assumptions
and are subject to a number of risks and uncertainties, many of
which are beyond the Company’s control, which could cause actual
results and events to differ materially from those that are
disclosed in or implied by such forward-looking statements. The
Company undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by law. New
factors emerge from time to time, and it is not possible for the
Company to predict all of them, or assess the impact of each such
factor or the extent to which any factor, or combination of
factors, may cause results to differ materially from those
contained in any forward-looking statement. Any forward-looking
statements contained in this presentation are expressly qualified
in their entirety by this cautionary statement.
Stallion Uranium (TSXV:STUD)
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부터 4월(4) 2024 으로 5월(5) 2024
Stallion Uranium (TSXV:STUD)
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부터 5월(5) 2023 으로 5월(5) 2024