Basin Uranium Significantly Increases the Size of Its Flagship Chord Uranium Project

Rhea-AI Summary

Basin Uranium Corp. (NCLR) acquires 640 acres contiguous to its Chord Uranium Project, expanding its landholdings to 3,677 acres. The acquisition is a significant advancement for the project, allowing for expediting permitting for a drill project to confirm and expand known mineralized bodies. The company has also entered into a public relations services agreement to increase public awareness of its products and securities, with a budget of USD$125,000 for the Marketing Services.

Vancouver, British Columbia--(Newsfile Corp. - November 22, 2023) - BASIN URANIUM CORP. (CSE: NCLR) ("Basin Uranium" or the "Company") is pleased to announce the acquisition of an additional 640 acres contiguous to its flagship Chord Uranium Project (the "Property") in South Dakota, which now stands at 3,677 acres of contiguous landholdings located approximately 5.5 miles southwest of encore Energy Corp.'s (EU-NYSEAM) Dewey-Burdock development project. The recently acquired claims adjoin the October Jinx mineralized zone to the south (see March 1, 2023 news release), where historical drilling and resource modelling terminated at the property boundary, and is highly prospective for extending uranium mineralization to the south. The additional 640 acres are located on Fall River County Section 36-7S-2E (Figure 1) and were acquired via way of Mineral Rights Lease Auction with notice published on September 28, October 5, and October 12 in the Fall River County Herald Star.

"The acquisition of the additional 640 acres marks a significant advancement for the project, as it represents the logical southern extension of the most significant historical resource on the project, the October Jinx deposit, as previous exploration was constrained solely by the property boundary," commented Mike Blady, CEO of Basin Uranium. "With this parcel of land now secured, we are focused on expediting permitting for a drill project over the entire 3,6777 acre project to both confirm and expand the known mineralized bodies."

Figure 1 - Chord Property Map

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Investor Relations

Basin Uranium has entered into a public relations services agreement dated November 20, 2023 (the "Services Agreement") with Think Ink Marketing (the "Service Provider"). Pursuant to the terms and conditions of the Services Agreement, the Service Provider (i) will provide Basin Uranium with public relations services to increase public awareness of Basin Uranium and its products, services and securities, and (ii) conduct activities including, but not limited to, advertising on platforms such as Google and Taboola, video content distribution on platforms such as YouTube, social media coverage on platforms such as Twitter, TikTok, and Meta, and email distribution to subscribers of various newsletters (collectively, the "Marketing Services").

The Service Provider will begin providing the Marketing Services on or around November 27, 2023 and will provide such services until February 27, 2024. However, Basin Uranium may elect, in its sole discretion, to continue to engage the Service Provider to provide the Marketing Services until May 27, 2024. As compensation for the Marketing Services, Basin Uranium will provide the Service Provider with a budget of USD$125,000, which will be paid by Basin Uranium on November 20, 2023. The following people will be involved in conducting the Marketing Services: (i) Claire Stevens, Marketing Director with an address located at 3308 W. Warner Ave., Santa Ana, 92704 who can be contacted at claire@thinkinkmarketing.com and 310-760-2616. The Service Provider and the aforementioned people are arm's length from Basin Uranium.

Qualified Person:

R. Tim Henneberry, PGeo (B.C.), a technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.

About Basin Uranium Corp.

Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has two advanced-stage uranium projects located in the United States, namely the Chord project in South Dakota and the Wray Mesa project in the southeast, both of which have seen extensive historical exploration and are located in prospective development areas. The company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.

For further information, please contact Mr. Mike Blady or view the Company's filings at www.sedar.com.

On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
info@basinuranium.ca
604-722-9842

Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.

FORWARD-LOOKING STATEMENTS:

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188305

FAQ

What is the name of the company mentioned in the press release and its ticker symbol?

The company mentioned in the press release is Basin Uranium Corp. and its ticker symbol is NCLR.

What is the significance of the recent acquisition by Basin Uranium Corp.?

The recent acquisition of 640 acres contiguous to its Chord Uranium Project expands the company's landholdings to 3,677 acres, representing a significant advancement for the project.

What are the plans for the acquired land by Basin Uranium Corp.?

The company plans to expedite permitting for a drill project over the entire 3,677-acre project to confirm and expand the known mineralized bodies.

What public relations agreement has Basin Uranium Corp. entered into?

Basin Uranium Corp. has entered into a public relations services agreement to increase public awareness of its products and securities, with a budget of USD$125,000 for the Marketing Services.