Urano Energy Completes Initial Review of Historical Uranium Reserves and Resources

Core Viewpoint - Urano Energy Corp. has completed an initial review of historical uranium reserve and resource estimates for its Bachelor, Dulaney, and La Sal Creek projects in Colorado, which are part of a larger acquisition of uranium assets [1][3]. Summary by Relevant Sections Company Developments - The company has identified nearly 477 thousand pounds of historical uranium reserves ("U3O8") across the three properties, contributing to a total of approximately 714 thousand pounds of historical uranium reserves in its inventory [3][5]. - Urano Energy expects its historical uranium mineral reserve inventory to increase significantly in the coming months as further analysis of its database continues [3][14]. Property Details - The Bachelor, Dulaney, and La Sal Creek properties are located in the Uravan Mineral Belt and La Sal Creek District, covering a total of 20 lode mining claims across 425 acres (1.72 square kilometers) [4][5]. - The properties have a history of production and contain historical estimates of uranium-vanadium reserves and resources [1][5]. Historical Estimates - The historical estimated uranium and vanadium reserves and resources for the three properties include: - Bachelor: 104,528 lbs. of U3O8 and 132,457 lbs. of V2O5 - Dulaney: 193,412 lbs. of U3O8 and 15,102 lbs. of V2O5 - La Sal Creek: 179,170 lbs. of U3O8 and 60,288 lbs. of V2O5 [7][8]. - The total historical estimates for the three properties amount to 477,110 lbs. of U3O8 and 207,847 lbs. of V2O5 [7]. Future Potential - The company has identified additional drill targets with high potential for new discoveries, which could further enhance its uranium inventory [3][15]. - Urano Energy plans to prioritize the completion of NI 43-101 Technical Reports for its properties to convert historical estimates into current mineral resources [13][14]. Industry Context - The Uravan Mineral Belt has a rich history of uranium and vanadium production, with over 80 million pounds of uranium and 400 million pounds of vanadium produced since 1945 [16][17]. - The region remains a key area for uranium exploration, driven by increasing global demand for uranium [17].