Uranium Exploration and Development

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Terra Clean Energy Corp. Enters into Definitive Agreements to Acquire Uranium Claims on the San Rafael Swell, Utah, United States
Thenewswire· 2025-09-24 12:30
Vancouver B.C. - TheNewswire - September 24, 2025 – TERRA CLEAN ENERGY CORP. (“Terra” or the “Company”) (CSE: TCEC, OTCQB: TCEFF, FSE: C9O0), is pleased to announce that, further to its press release dated September 16, 2025, it has entered into definitive agreements with arm’s length parties to acquire up to a 100% interest in each of the Wheel Anne Claims and the Green Vein Mesa Claims (each of the properties are located in Emery County, Utah, United States). “The quick execution of the agreements shows ...
Terra Clean Energy Corp. Announces Agreement to Earn 100% Interest in 75 Past Producing Uranium Claims on The San Rafael Swell, Utah, United States
Thenewswire· 2025-09-16 16:35
Core Viewpoint - Terra Clean Energy Corp. is set to acquire up to a 100% interest in 75 uranium claims located in Emery County, Utah, which is expected to enhance the company's portfolio with a low-risk uranium project [1][2]. Transaction Highlights - The acquisition includes two claim groups: Wheal Anne Claims and Green Vein Mesa Claims, both situated in a historically significant uranium district in the USA [4][5]. - The transaction is designed to optimize exploration programs through a staged earn-in structure, allowing the company to gradually increase its interest in the claims [7][17][18]. Rationale Behind the Acquisition - The claims are located in an area with a history of uranium production, and the company believes there is additional minable uranium present [4][5]. - The acquisition aligns with recent U.S. government policies aimed at boosting nuclear power and uranium mining activities [4][5]. Project Overview - The San Rafael Swell is a prominent uranium mining district in east-central Utah, with historical production occurring from the late 1940s to the 1970s [5][6]. - The geological formations in the area are known to host uranium, with significant potential for further exploration and development [6][8]. Claim Details - The Wheal Anne Claim Group covers approximately 130 hectares and includes the former Lucky Strike Mine, which produced over 10,000 tons of ore with a grade of 0.22% U3O8 [7][8]. - The Green Vein Mesa Claim Group encompasses around 300 hectares and includes several past-producing mines, with local samples reportedly reaching up to 1% U3O8 [8]. Financial Structure of the Acquisition - For the Wheal Anne Claims, the company will make cash payments totaling USD$260,000, issue 2,500,000 common shares, and incur exploration expenditures of USD$200,000 over five years to earn a 100% interest [17]. - For the Green Vein Mesa Claims, the company will make cash payments totaling USD$100,000, issue 1,250,000 common shares, and incur exploration expenditures of USD$66,667 over five years to earn a 100% interest [18]. Regulatory Approvals - The agreements for the acquisition are subject to regulatory approvals, including those from the Canadian Securities Exchange [20].
F4 and Stearman to Explore Drill-Ready Murphy Lake
Newsfile· 2025-07-29 18:15
Core Viewpoint - F4 Uranium Corp. has entered into an exclusive option agreement with Stearman Resources Inc. to allow Stearman to acquire up to a 70% interest in the Murphy Lake uranium property in Saskatchewan, marking a strategic partnership aimed at advancing exploration and development of the property [1][2][3]. Agreement Details - Stearman will make a non-refundable cash payment of $50,000 on July 28, 2025, as the initial payment [2]. - Stearman has the option to acquire a 50% interest in the property by paying a total of $750,000 over 24 months, with specific payment milestones [2]. - Stearman is required to fund $10,000,000 in exploration expenditures over 42 months, with scheduled expenditures of $1,500,000 at 12 and 24 months, and $7,000,000 at 42 months [2]. - Stearman must complete equity financings to raise at least $3,000,000 within six months, after which it will issue shares to F4 equal to 9.9% of its total outstanding shares [2]. - Following the initial option, Stearman can acquire an additional 20% interest in the property, bringing its total interest to 70% [2][4]. Property Overview - The Murphy Lake Property spans 609 hectares and is located in the northeastern Athabasca Basin, near significant uranium deposits [6]. - The property is strategically positioned 5 km south of ISOEnergy's Hurricane Uranium Deposit and 4 km east of Cameco's La Rocque Lake Uranium Zone [1][6]. - Previous drilling at the property has shown promising results, including a peak scintillometer reading of 2,300 cps and assay results of 0.065% U3O8 over 2.5m [6]. Company Background - F4 Uranium Corp. is focused on uranium exploration in the Athabasca Basin, with a portfolio of 17 wholly owned properties totaling approximately 157,000 hectares [9]. - The company was spun out of F3 Uranium in 2024 and is led by a management team with a history of successful uranium discoveries [9].
Exploration Program for the Flagship Pine Ridge Uranium Project In Wyoming's Prolific Powder River Basin
Newsfile· 2025-05-15 11:00
Core Viewpoint - Snow Lake Resources Ltd. has announced an exploration program for the Pine Ridge Uranium Project in Wyoming, with a focus on identifying priority targets and initiating a drill program of approximately 38,000 meters starting in July 2025 [1][3]. Group 1: Project Overview - The Pine Ridge Uranium Project is a joint venture between Snow Lake and Global Uranium and Enrichment Limited, with both companies holding a 50/50 stake [1]. - The project area has been expanded to approximately 15,130 hectares (37,387 acres) through the staking of an additional 937 claims [4]. - The exploration program will utilize existing historical data and public information to develop a comprehensive 3D geological model of the mineralization [4][6]. Group 2: Exploration Program Details - The initial drill program will focus on priority target areas, with approximately 38,000 meters (125,000 feet) of drilling planned [5][6]. - The drill program is expected to commence shortly after permit approvals, anticipated in late June 2025 [9]. - The project is located in the Powder River Basin, a leading uranium-producing region in the U.S., known for its favorable regulatory environment [6][10]. Group 3: Historical Context and Support - Historical drilling campaigns in the project area have included 765 holes by Conoco and 449 holes by Stakeholder Energy, contributing to the geological understanding of the site [7]. - The project is supported by significant geological studies, including the measurement of 350 sandstone outcrops to understand the geological characteristics of the area [8]. - SOLA Project Services will provide technical and project support, leveraging over 25 years of experience in the Powder River Basin [9].
Aero Energy and Kraken Energy Combine to Create a Premier North American Uranium Developer
Newsfile· 2025-04-02 11:00
Core Viewpoint - Aero Energy Limited and Kraken Energy Corp. have entered into a definitive arrangement agreement for Aero to acquire all outstanding shares of Kraken, creating a leading North American uranium developer [1][2] Transaction Overview - The transaction is valued at approximately $0.02754 per Kraken Share, totaling around $1.64 million, representing a 20% premium over the 15-day volume-weighted average trading price of Kraken Shares on the CSE [2][7] - The exchange ratio is set at 0.97037 Aero Shares for each Kraken Share [7] Strategic Benefits - The merger combines Aero's Athabasca Basin uranium assets with Kraken's U.S. uranium assets, creating a dual-jurisdiction portfolio that reduces risk and enhances potential returns for shareholders [5] - The transaction secures access to U.S. uranium opportunities, capitalizing on the increasing importance of domestic assets in the energy sector [5] - The merger is expected to enhance market presence and visibility, attracting stronger investor interest [5] Leadership and Governance - The board of directors of the merged entity will consist of five members, with three from Aero and two from Kraken, ensuring a balanced leadership structure [13] - Galen McNamara will serve as CEO and Martin Bajic as CFO of the merged company [13] Shareholder Support - The transaction has received unanimous approval from the boards of both companies, with Kraken's board recommending that shareholders vote in favor [16] - Directors and executive officers of Kraken, representing approximately 8% of the outstanding shares, have agreed to vote in favor of the transaction [15] Regulatory and Approval Process - The transaction requires approval from at least 66 2/3% of the votes cast by Kraken Shareholders and is subject to regulatory approvals from the TSX Venture Exchange and CSE [9][10] - A special meeting for Kraken Shareholders is expected to be convened in June 2025 to vote on the transaction [9] Project Details - Aero is advancing a 250,000-acre land package in Saskatchewan's Athabasca Basin, focusing on high-grade uranium deposits across its flagship projects [29] - Kraken's Apex Property, a key asset, is located in Nevada and has significant exploration potential beyond historically mined zones [23][26]