Vanguard Mining Finalizes Acquisition of Strategic 90,000 ha Uranium Project Adjacent to UEC's 8.96M-lb Yuty Deposit in Paraguay

Core Viewpoint - Vanguard Mining Corp. has entered into a Definitive Share Purchase Agreement to acquire 100% of the outstanding shares of 1302343 B.C. LTD, which holds an 85% interest in Paraguay Uranium S.A., owner of the Yuty Prometeo Project in Paraguay, marking a significant step in its uranium exploration strategy [1][4][5]. Acquisition Details - The acquisition involves Vanguard purchasing all outstanding shares of BC LTD, which holds an 85% interest in Paraguay Uranium S.A. The Yuty Prometeo Project consists of four concessions covering approximately 90,000 hectares (222,395 acres) in the Paraná Basin, a key uranium region in South America [5][6][10]. - The transaction includes an initial payment of $20,000, the issuance of 8,000,000 common shares at a deemed price of $0.145, and an additional $20,000 upon the issuance of a Prospecting Permit [8]. Project Overview - The Yuty Prometeo Project is strategically located adjacent to Uranium Energy Corp.'s Yuty Deposit, which has an Indicated resource of 8.96 million pounds of U₃O₈ [2][5]. - The project area includes three San Jose concessions and one Yuty Uno concession, with significant uranium anomalies identified through previous exploration efforts [10][6]. Management Commentary - The CEO of Vanguard Mining Corp. emphasized that this acquisition is transformative for the company's uranium exploration strategy, positioning it in a highly prospective area adjacent to a multi-million-pound deposit [4]. Historical Context - Historical exploration in the region has included significant drilling activities, with uranium values ranging from 0.05% to 0.10% U₃O₈ noted in previous work [7][14]. The area has been recognized for its potential since the 1970s, with various companies conducting exploration and drilling campaigns [14][15]. Industry Context - Paraguay is emerging as a favorable mining jurisdiction, characterized by political stability, low sovereign risk, and a supportive regulatory environment for mineral exploration, particularly in uranium [16]. The country is increasingly seen as a strategic destination for mining companies seeking growth opportunities [16].