Atomic Minerals Announces Option Agreement to Acquire Saskatchewan Mineral Claims
Atomic Minerals (TSXV: ATOM) has entered into an option agreement to acquire a 100% interest in two mineral claims in Saskatchewan's Mozzie Lake project. The claims, spanning approximately 5,355 hectares, are located in the Pinkham Lake Zone, 25km northeast of the Athabasca Basin within the Charlebois-Higgingson Lake Uranium District.
Historical drilling from 1967-1968 identified an estimate of 208,300 tons grading 0.118% U3O8, approximately 491,588 pounds of U3O8. The uranium mineralization is hosted within pegmatite intrusions. To exercise the option, Atomic Minerals must:
- Issue 5,500,000 common shares upon TSXV approval
- Pay $50,000 in cash within three years
The company also has the right to purchase a 3% net smelter return royalty by issuing 5,500,000 shares to the Royalty Holder.
Atomic Minerals (TSXV: ATOM) ha stipulato un accordo di opzione per acquisire un interesse del 100% in due concessioni minerarie nel progetto Mozzie Lake in Saskatchewan. Le concessioni, che si estendono per circa 5.355 ettari, si trovano nella zona di Pinkham Lake, a 25 km a nord-est del bacino di Athabasca, all'interno del distretto di uranio Charlebois-Higgingson Lake.
Le perforazioni storiche del 1967-1968 hanno identificato una stima di 208.300 tonnellate con un grado dello 0,118% di U3O8, corrispondenti a circa 491.588 libbre di U3O8. La mineralizzazione di uranio è ospitata all'interno di intrusioni pegmatitiche. Per esercitare l'opzione, Atomic Minerals deve:
- Emettere 5.500.000 azioni ordinarie previa approvazione del TSXV
- Pagare 50.000 dollari in contanti entro tre anni
L'azienda ha anche il diritto di acquistare una royalty netta del 3% sul ritorno della fusione emettendo 5.500.000 azioni al detentore della royalty.
Atomic Minerals (TSXV: ATOM) ha firmado un acuerdo de opción para adquirir un interés del 100% en dos reclamos minerales en el proyecto Mozzie Lake en Saskatchewan. Los reclamos, que abarcan aproximadamente 5,355 hectáreas, están ubicados en la zona de Pinkham Lake, a 25 km al noreste de la cuenca de Athabasca, dentro del distrito de uranio Charlebois-Higgingson Lake.
Las perforaciones históricas de 1967-1968 identificaron una estimación de 208,300 toneladas con una ley del 0.118% de U3O8, aproximadamente 491,588 libras de U3O8. La mineralización de uranio se encuentra en intrusiones de pegmatita. Para ejercer la opción, Atomic Minerals debe:
- Emitir 5,500,000 acciones comunes tras la aprobación de TSXV
- Pagar $50,000 en efectivo dentro de tres años
La empresa también tiene el derecho de comprar una regalía neta del 3% sobre el retorno de fundición emitiendo 5,500,000 acciones al titular de la regalía.
Atomic Minerals (TSXV: ATOM)은 사스카치완의 모지 레이크 프로젝트에서 두 개의 광물 청구권을 100% 인수하기 위한 옵션 계약을 체결했습니다. 이 청구권은 약 5,355 헥타르에 걸쳐 있으며, 아타바스카 분지의 북동쪽 25km에 위치한 핑크햄 레이크 구역에 있습니다.
1967-1968년의 역사적인 시추에서 0.118% U3O8의 등급을 가진 208,300톤의 추정치가 확인되었으며, 이는 약 491,588파운드의 U3O8에 해당합니다. 우라늄 광물화는 페그마타이트 침입물 내에 존재합니다. 옵션을 행사하기 위해 Atomic Minerals는 다음을 수행해야 합니다:
- TSXV 승인을 받은 후 5,500,000주를 발행해야 합니다
- 3년 이내에 50,000달러를 현금으로 지불해야 합니다
회사는 또한 로열티 소유자에게 5,500,000주를 발행하여 3% 순 제련 수익 로열티를 구매할 권리가 있습니다.
Atomic Minerals (TSXV: ATOM) a signé un accord d'option pour acquérir un intérêt de 100 % dans deux revendications minérales dans le projet Mozzie Lake en Saskatchewan. Les revendications, s'étendant sur environ 5 355 hectares, sont situées dans la zone de Pinkham Lake, à 25 km au nord-est du bassin d'Athabasca, au sein du district d'uranium Charlebois-Higgingson Lake.
Des forages historiques de 1967-1968 ont identifié une estimation de 208 300 tonnes avec une teneur de 0,118 % U3O8, soit environ 491 588 livres de U3O8. La minéralisation d'uranium est contenue dans des intrusions de pegmatite. Pour exercer l'option, Atomic Minerals doit :
- Émettre 5 500 000 actions ordinaires après approbation de la TSXV
- Payer 50 000 $ en espèces dans les trois ans
L'entreprise a également le droit d'acheter une redevance nette de 3 % sur le retour de fusion en émettant 5 500 000 actions au titulaire de la redevance.
Atomic Minerals (TSXV: ATOM) hat einen Optionsvertrag unterzeichnet, um ein 100%iges Interesse an zwei Mineralansprüchen im Mozzie Lake-Projekt in Saskatchewan zu erwerben. Die Ansprüche erstrecken sich über etwa 5.355 Hektar und befinden sich in der Pinkham Lake Zone, 25 km nordöstlich des Athabasca-Beckens im Charlebois-Higgingson Lake Uranbezirk.
Historische Bohrungen aus den Jahren 1967-1968 haben eine Schätzung von 208.300 Tonnen mit einem Gehalt von 0,118% U3O8 identifiziert, was etwa 491.588 Pfund U3O8 entspricht. Die Uranmineralisierung ist in Pegmatitintrusionen enthalten. Um die Option auszuüben, muss Atomic Minerals:
- 5.500.000 Stammaktien nach Genehmigung durch die TSXV ausgeben
- Innerhalb von drei Jahren 50.000 Dollar in bar zahlen
Das Unternehmen hat auch das Recht, eine 3%ige Nettoschmelzrendite-Royalty zu erwerben, indem es 5.500.000 Aktien an den Royalty-Inhaber ausgibt.
- Historical resource estimate of 491,588 pounds of U3O8 at 0.118% grade
- Strategic expansion of uranium portfolio in Saskatchewan's Athabasca region
- Option to acquire 100% interest in the property
- Flexible payment terms with majority in shares rather than cash
- Historical resource requires verification through new drilling
- Additional share issuance of up to 11 million shares could lead to dilution
- Cash payment of $50,000 required within three years
- Historical estimate is not compliant with current standards
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2025) - Atomic Minerals Corporation (TSXV: ATOM) ("Atomic Minerals" or the "Company") is pleased to announce that it has entered into an option agreement dated April 9, 2025 (the "Option Agreement") amongst the legal and beneficial holder (the "Vendor") of two mineral claims totaling approximately 5,355 hectares located in the Province of Saskatchewan (the "Property"). Pursuant to the Option Agreement, the Vendor has granted the Company the exclusive right to acquire a
The Mozzie Lake project consists of two properties situated in the Pinkham Lake Zone approximately 25km northeast of the Athabasca Basin, located within the Charlebois-Higgingson Lake Uranium District. Uranium mineralization on the properties is hosted within pegmatite intrusions. Two programs of diamond drilling in 1967 and 1968 identified an historic estimate of 208,300 tons grading
The historic estimate was disclosed in Kings Resources Company Exploration - 1968 Permit 3 Area Athabasca Mining District, Saskatchewan by B.G. Gislason and C.M Trigg Dated November 1968. The Company feels the historic estimate is relevant because it speaks to the potential of the Mozzie Lake property and reliable as it was completed to the standards of the day by competent geologists. The historic estimate appears to be calculated from cross sections, under the assumption that the pegmatite bodies hosting the mineralization are conformable with the enclosing rock. Only mineralized sections grading 0.05 per cent U308 or greater were included in the calculation. The historic estimates are classified as drill indicated, which would be comparable to an inferred resource. The Company would need to twin a number of the 1967 and 1968 drill holes to move the historic estimate to an inferred resource.
Atomic Minerals cautions investors a qualified person has not done sufficient work to classify the historical estimate as current mineral resources and further cautions that the Company is not treating the historical estimate as current mineral resources.
"We are very excited to announce the acquisition of an additional uranium property with pounds in the ground. This acquisition represents another step forward in our mission to build shareholder value as Atomic Minerals advances its uranium exploration portfolio across North America," stated Clive Massey, President & CEO.
Transaction Terms
To exercise the Option and acquire a
- Issue 5,500,000 common shares (the "Consideration Shares") to the Vendor upon TSXV approval of the Option Agreement; and
- Pay
$50,000 in cash to the Vendor within three years from the effective date of the Option Agreement.
The Company also has the right (but not the obligation) to purchase a
No finder's fees were paid on this arm's length Option Agreement.
All securities issued in connection with the Option Agreement will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.
None of the securities issued in connection with the Option Agreement will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
R. Tim Henneberry, PGeo (British Columbia), an adviser to the Company, is the Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the technical information of this news release.
About the Company
Atomic Minerals Corporation is a publicly listed exploration company on the TSXV, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic's objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic's property portfolio contains uranium projects in three locations within North America, all of which have technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8. Three others are in the prolific Athabasca Basin region.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
info@atomicminerals.ca
(604) 341-6870
Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements:
This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements relate to future events or the anticipated performance of the Company and reflect management's expectations or beliefs regarding future events. Such statements include, but are not limited to: the Company's plans to exercise the Option and acquire a
Forward-looking statements are typically identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "may," "will," and similar expressions, or statements that events, conditions, or results "will," "may," "could," or "should" occur or be achieved.
Such forward-looking statements are based on reasonable assumptions made by the Company as of the date of this news release, including assumptions regarding regulatory approvals, exploration and development plans proceeding as expected, and the availability of financing and other resources.
However, forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the speculative nature of mineral exploration; the accuracy of historical estimates; the Company's ability to obtain TSXV and other regulatory approvals; market conditions; changes in commodity prices; and general economic and political risks in jurisdictions where the Company operates.
Readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248031
FAQ
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