Collective Metals Announces Acquisition of Rocas Uranium Project in the Renowned Athabasca Basin

Core Viewpoint - Collective Metals Inc. has signed a definitive property option agreement to acquire a 75% interest in the Rocas Project, a significant uranium asset located in the eastern Athabasca Basin, which is expected to enhance long-term shareholder value [1][3]. Rocas Project Highlights - The Rocas Project spans 4,002 hectares and is strategically located 75 kilometers southwest of the Key Lake Mine, featuring over 7.5 kilometers of exploration strike length along a magnetic low trend [4][5]. - Historical mineralized outcrop grab samples along approximately 900 meters of strike length have been recorded, grading up to 0.5 wt.% U3O8, with no prior drilling conducted on these occurrences [5][23]. - A high-resolution ground gravity survey completed in 2024 has identified potential new uranium targets, highlighting alteration halos and high-priority exploration areas [3][10]. Exploration Plans - The exploration team mobilized to the Rocas Project on September 30, 2025, to conduct detailed mapping, prospecting, and sampling to validate historical uranium showings [8]. - Collected samples will undergo geochemical analysis at the Saskatchewan Research Council Geoanalytical Laboratories [8]. - Ongoing geophysical interpretation and modeling throughout 2025 will integrate historical results with new datasets to identify high-priority drill targets [10]. Financial and Operational Structure - The option agreement includes a 3-year earn-in structure, requiring cash payments, share issuances, and exploration expenditures totaling $4.5 million [12][14]. - The company will act as the operator of the project during the first year, charging a fee that increases from 10% to 12% in subsequent years [15]. - Upon successful completion of the option, the company will acquire a 75% equity interest in the property, with Standard Uranium retaining a 25% interest and a 2.5% net smelter returns royalty [16][17].