Argo Acquires Saskatchewan Uranium Mineral Claims

Core Viewpoint - Argo Gold Inc. has entered into agreements to acquire additional mineral claims in Saskatchewan, specifically in the Athabasca Basin, which are considered prospective for uranium mineralization [1][6]. Group 1: Acquisition Details - The Parker Lake claims, totaling 11,644 hectares, are being acquired in exchange for a 2% net smelter returns royalty granted to the vendors [2][3]. - The Thunderbolt and ZigZag claims, covering 3,692 hectares and 626 hectares respectively, are being purchased for a total of $5,000 in cash and the issuance of 500,000 common shares, subject to a four-month hold period [2][4][5]. Group 2: Geological Significance - The Parker Lake claims are located near a cluster of untested airborne radioactive anomalies and are thought to have a geological setting similar to the Rabbit Lake/Eagle Point Mine [3]. - The Thunderbolt claims are situated near significant uranium deposits, including ISO Energy's Hurricane Deposit, which has 48 million pounds of U3O8 at 34.5% U3O8 [4]. - The Zig Zag claims are aligned with notable uranium discoveries and are located along the Patterson Lake Shear Zone, which has been identified as having potential for further exploration [5]. Group 3: Industry Context - Saskatchewan is ranked third globally for mineral exploration and mining according to the Fraser Institute's Annual Survey of Mining Companies, indicating a favorable environment for mineral exploration [6].