Highlights:
- Represents CUR’s initial foray in
South Australia , a uranium mining friendly jurisdiction with an operating uranium mine and several near-term production and advanced development projects including Quasar Resources’Four Mile Mine , Boss Energy’sHoneymoon Project and Alligator Energy’sSamphire Project . - Historic drilling intersected high grade, shallow mineralization including:
- 1 metres grading 0.355% U3O8 from 66 metres
- 4 metres grading 0.086% U3O8 from 67 metres
- Mineralization is potentially amenable to In Situ recovery.
- Exploration potential remains high with widely spaced historic drilling testing a limited area of the favourable paleochannel target area.
Terms of the Sale and Purchase Agreement
Pursuant to the Agreement, CUR will acquire 100% interest in New Standard for consideration comprised of 2,059,732 common shares in the capital of the Company (“CUR Shares”) at a deemed price per share of
In addition, CUR has agreed to grant to the Sellers a 2% net smelter returns royalty on the Projects, 1% of which can be repurchased by CUR for the payment of
The Yarranna project is an advanced stage exploration project located in the
Figure 1 and Table 1:
Corporate Update
Further to CUR’s press release dated
- The month-end Ux U3O8 price as published by
UxC LLC exceeds$60 (U.S. ) per pound. - A National Instrument 43-101-compliant mineral resources estimate for the
West Newcastle Range andTeddy Mountain projects is prepared where the mineral resource estimate is greater than or equal to 6 Mlb (million pounds) of U3O8, or, with respect to the Ardmore East project, the mineral resources estimate is greater than or equal to 3 Mlb of U3O8 equivalent.
Any CUR shares issued in connection with the GOI Acquisition are subject to approval of the TSXV and will be subject to a hold period expiring four months and one day from the date of issuance. There are no finders’ fees payable in connection with the GOI Agreement and GOI is an arms-length party with respect to the company.
Qualified Person
The scientific and technical information contained in this news release was reviewed and approved by
About
For More Information, Please Contact:
Chairman & CEO
pwilliams@consolidateduranium.com
Twitter: @ConsolidatedUr
www.consolidateduranium.com
Neither
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including, but not limited to, completion of the Acquisition, the approval of the TSXV and the Company’s ongoing business plan, exploration and work programs. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals and the risk factors with respect to
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1848e37c-6e27-4f98-af7a-fcb230572631
https://www.globenewswire.com/NewsRoom/AttachmentNg/604044cf-fb44-4c35-8fcf-9faac9456600
Figure 1
Yarranna Project with select key rotary and air core drill results
Table 1
Yarranna Project with select key rotary and air core drill results
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