Please click on this link to view a video on today’s release from LUR’s CEO
Current Projects and New Acquisitions
LUR’s strategy is to consolidate and aggressively explore its land position in the Central Mineral Belt (“CMB”) of
Moran Lake Project : To be acquired fromConsolidated Uranium . The project hosts historic uranium and vanadium mineral resources. Over$25 million has been spent on the project to date and holds further exploration potential;Central Mineral Belt (CMB) Project : To be acquired from a wholly-owned subsidiary of Altius Minerals Corporation (“Altius”). This project includes approximately 125,000 hectares of land with more than 50 years of exploration data available. This project contains many known occurrences of uranium, copper, gold, iron and other elements identified in 140 targets;Notakwanon Project : To be acquired from Altius. This is a near surface discovery with over 20 uranium occurrences at surface and grab samples yielding up to 3.5% U3O8;Mustang Lake joint venture interest (66%): To be acquired from Mega Uranium Ltd. This project is approximately 9.5 kilometers northeast of Paladin Energy’s Michelin uranium deposit.Mustang Lake has seen historic drilling, has multiple uranium occurrences, and is also prospective for IOCG style mineralization.
LUR has recently added the following 683 claims (17,075 hectares) by staking and, when taken together with the above projects, LUR expects to hold a dominant land position in the CMB and surrounding area at Notakwanon:
- 256 claims (6,400 hectares) located to the west of the Michelin uranium deposit with extension potential;
- 120 claims (3,000 hectares) located around the
Notakwanon Project , consolidating more land around this prospect; - 307 claims (7,675 hectares) in four map-staked licenses located to the north of the existing CMB claims covering prospective areas.
Figure 1: LUR District Scale Claims across
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Building A Strong Team
In addition to growing its land position, LUR has strengthened its geological team. The new additions, detailed below, will bring particular expertise to analyzing and assessing the vast amount of data available to LUR on its projects in order to generate targets for this coming field season.
Dr.
The Board of Directors is expected to be made up of experienced mining industry professionals with a track record of success in the uranium sector including:
Public Listing
The special meeting of shareholders of
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Technical Disclosure and Qualified Person
The scientific and technical information contained in this news release was reviewed and approved by
About
For More Information, Please Contact
President and CEO
pwilliams@consolidateduranium.com
Mars Investor Relations
+1 647 557 6640
cur@marsinvestorrelations.com
Twitter: @ConsolidatedUr
www.consolidateduranium.com
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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 LUR’s anticipated summer work program; the completion of the Arrangement and the acquisitions from Altius and Mega Uranium; anticipated timing for completion of the Arrangement and listing of the LUR common shares; and other activities, events or developments that the Company expects or anticipates will or may occur in the future. 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 the ability of the parties to receive, in a timely manner and on satisfactory terms, necessary regulatory approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Arrangement, the acquisitions from Altius and Mega Uranium and the listing of the LUR common shares; 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 and LUR’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: the diversion of management time on transaction-related issues; expectations regarding 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, risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations, delays in obtaining governmental or other approvals and the risk factors set out in the Company’s annual information form in respect of the year ended
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.
Figure 1
LUR District Scale Claims across Labrador
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