Joint Press Release of Future Fuels Inc. and ValOre Metals Corp. – Future Fuels Inc. Enters Into Agreement to Acquire Hatchet Uranium Corp.

Core Viewpoint - Future Fuels Inc. is acquiring Hatchet Uranium Corp. (HUC) through a three-cornered amalgamation, enhancing its uranium exploration portfolio in the Athabasca Basin, a region known for its rich uranium deposits [1][2]. Company Overview - Future Fuels Inc. holds significant assets, including the Hornby Project in Nunavut and the Covette Project in Quebec, focusing on uranium exploration [23]. - ValOre Metals Corp. is a key player in this transaction, with HUC being a 51% owned subsidiary, indicating a strategic partnership aimed at capitalizing on uranium exploration opportunities [1][2]. Acquisition Details - The amalgamation agreement stipulates that HUC will amalgamate with Subco, with Future Fuels acquiring all outstanding securities of HUC [17]. - Each common share of HUC will be exchanged for 0.760836 of a common share in Future Fuels, and similar terms apply to HUC's warrants [17][20]. HUC Properties Summary - HUC holds interests in five claim blocks totaling approximately 97,674 hectares in the Wollaston Lake area, primarily within the Wollaston–Mudjatik Transition Zone [3]. - The Hatchet Lake Property, part of HUC's assets, covers about 13,711 hectares and has shown promising uranium readings, including up to 22,000 CPS and 1,637 ppm U [5][6]. Exploration History - HUC's properties have been explored since the late 1960s, employing various geological and geophysical methods, with recent advancements including the use of AI for target generation [4][6]. - The Highway Property, another asset, spans approximately 17,606 hectares and has identified uranium-bearing materials with readings up to 4,366 CPS and 230 ppm U [8][10]. Financial Aspects - The acquisition involves a financial advisory consulting agreement for a convertible debenture of $250,000, convertible into 5,000,000 HUC Shares prior to the acquisition completion [18][19]. - Upon completion, approximately 15,000,007 Consideration Shares and 1,104,743 Consideration Warrants will be issued to HUC's former securityholders [20]. Strategic Implications - The acquisition is expected to create a strong entity in the Canadian uranium exploration sector, enhancing market exposure and attracting capital for exploration programs [2].