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New Earth Resources Applies for Additional State Lease Lands Adjacent to Past-Producing Lucky Boy Uranium Project
Globenewswire· 2026-02-12 08:05
Core Viewpoint - New Earth Resources Corp. has submitted an application for approximately 268 acres of additional state mineral lease land adjacent to its Lucky Boy Uranium Project, which could nearly double its current land position in the area [1][2][4]. Group 1: Land Acquisition - The applied-for acreage is strategically located next to the existing project area, enhancing the company's land position within the Lucky Boy area [2][3]. - Securing additional state lease ground is expected to strengthen the overall property position and support long-term planning for the project [2][4]. - The expansion is viewed as a logical extension of the company's existing land position, providing greater flexibility for future exploration activities [4]. Group 2: Financial Developments - In 2026, the company has raised aggregate gross proceeds of $749,750 through the issuance of 5,998,000 shares via exercises of previously issued share purchase warrants, with proceeds intended for general working capital [5]. Group 3: Company Overview - New Earth Resources Corp. is a Canadian mineral exploration company focused on acquiring and developing advanced and early-stage exploration projects, with its flagship being the 100% owned Lucky Boy Uranium Property in Arizona, which spans approximately 273 acres [6]. - The company also holds options to acquire interests in additional projects, including rare earth element claims in Quebec and Labrador [7].