Welcome to our dedicated page for Pegasus Resources news (Ticker: SLTFF), a resource for investors and traders seeking the latest updates and insights on Pegasus Resources stock.
Overview
Pegasus Resources Inc. (SLTFF) is a diversified junior Canadian mineral exploration company with a strategic focus on discovering and advancing uranium, gold, and base metal projects across North America. The company employs a blend of historical exploration data and modern geological modeling techniques to define and delineate potential mineral resource zones. Utilizing proven exploration methodologies and a comprehensive approach to geological assessment, Pegasus Resources Inc. establishes its credibility as an experienced participant in the mining industry.
Business Model and Operations
The company operates primarily as an exploration specialist, targeting under-explored areas with high mineral resource potential. Its portfolio comprises several projects that benefit from extensive historical drilling, detailed mapping, and state-of-the-art geological surveys. By integrating modern techniques with historical data, Pegasus Resources is able to enhance the understanding of complex mineralized systems and strategically prioritize drill targets. This methodical approach minimizes operational risks and positions the company to uncover new opportunities within mature mining districts.
Project Portfolio
- Uranium Projects: With flagship projects like Energy Sands and the recently acquired Jupiter Project, Pegasus Resources leverages geological trends indicative of paleochannel-hosted mineralization in favorable mining jurisdictions. These projects are characterized by their significant exploration potential and alignment with broader industry trends in clean energy demand.
- Precious Metals and Base Metals: In addition to uranium, the company maintains interests in gold and base metal properties, reflecting its diversified exploration strategy. These assets are developed in regions recognized for their long-standing mining histories and robust infrastructure.
Exploration Strategy and Methodology
Pegasus Resources Inc. emphasizes sustainable exploration practices that integrate detailed geological mapping, sampling campaigns, and comprehensive data analysis. Through phased exploration efforts, the company refines its geological models to define drill-ready targets. This systematic strategy facilitates the eventual creation of resource estimates in accordance with current industry standards, underscoring the company’s commitment to rigorous scientific evaluation and reducing exploration risks.
Competitive Position and Industry Significance
In a competitive junior mining sector, Pegasus Resources distinguishes itself by combining its multi-resource focus with a thorough understanding of regional geology and historical exploration trends. The company’s operations are underpinned by an experienced management team and a robust advisory network, which together enhance investor confidence and support a disciplined exploration approach. By focusing on high-quality projects in mature mining jurisdictions, Pegasus Resources positions itself to capitalize on opportunities driven by global energy transitions and sustained demand for critical minerals.
Operational Excellence and Industry Expertise
The expertise and operational discipline at Pegasus Resources are evident in its application of advanced geological techniques and strategic project acquisitions. The company emphasizes transparency, adherence to regulatory standards, and meticulous preparation of exploration programs. This expert-level approach is reflected in its continuous efforts to upgrade geological models and optimize drill targeting, ensuring that each project advances systematically from exploration through to potential resource definition.
Conclusion
Pegasus Resources Inc. remains committed to delivering deep, research-backed insights into its portfolio of uranium, gold, and base metal projects. Its balanced and methodical exploration strategy, combined with an experienced management team, establishes the company as a respected and knowledgeable entity within the North American mineral exploration landscape. This comprehensive overview provides investors and industry observers with a clear understanding of the company’s operations, business model, and significance within the broader mining sector.
Pegasus Resources (TSXV:PEGA, OTC:SLTFF) has received conditional TSXV approval for selling its non-core Icefield Property in British Columbia to Ashley Gold Corp. The transaction involves 8 million Ashley common shares as consideration, structured as:
- 6 million shares upon signing (subject to CSE requirements)
- 2 million additional shares upon Ashley receiving drill permits
The initial 6 million shares have tiered hold periods: 2 million each locked for 4, 8, and 12 months. The deal includes governance rights with one board seat at Ashley and the right to maintain a minimum 10% equity stake. Ashley will assume all existing royalty obligations. The transaction closing is expected on April 17, 2025, pending final TSXV approval.
Pegasus Resources Inc. (SLTFF) has entered into a purchase and sale agreement with Ashley Gold Corp. for the sale of its Icefield Property in British Columbia. The agreement, signed on March 19, 2025, includes the following key terms:
- Pegasus will receive 8 million common shares of Ashley Gold:
- 6 million shares upon signing, subject to hold periods ranging from 4 to 12 months
- 2 million shares within 60 days of receiving drill permits
The deal includes strategic benefits for Pegasus, including a seat on Ashley Gold's Board of Directors and the right to maintain a minimum 10% equity stake in Ashley Gold through participation in future financings. Ashley Gold will assume all royalty obligations under the original agreements with DG Resource Management from 2020.
Pegasus Resources (OTC PINK:SLTFF) has secured 75% ownership of the Jupiter Uranium Project in Utah after making the final property payment. The company will earn 100% ownership once drilling commences on this drill-ready and permitted asset.
The acquisition aligns with Pegasus' strategy to develop a high-quality uranium portfolio in the United States, particularly in mining-friendly jurisdictions with established uranium production history. The company is preparing for an initial drill program to expand known uranium mineralization and accelerate resource definition.
CEO Christian Timmins highlighted the strategic timing of the acquisition amid rising global uranium demand and nuclear energy's growing role as a clean energy solution. The company aims to capitalize on the U.S. government's emphasis on domestic uranium production and increasing uranium prices driven by supply security concerns.
Pegasus Resources (SLTFF) has successfully closed a non-brokered private placement, raising $340,354.02 through the issuance of 5,672,567 units at C$0.06 per unit. Each unit includes one common share and one warrant exercisable at C$0.12 for two years.
The financing will enable Pegasus to secure 75% ownership in the Utah uranium project Jupiter through a final payment. Finders' fees included $15,076 in cash and 251,272 finders' warrants exercisable at C$0.06 for two years. Company insiders, including CEO Christian Timmins, Noah Komavli, and Derrick Stickland, participated in the offering, which constituted a related party transaction.
Pegasus Resources Inc. (TSX-V:PEGA, OTC:SLTFF) has announced a non-brokered private placement aiming to raise up to C$375,000. The offering consists of up to 6,250,000 units priced at C$0.06 per unit, with each unit comprising one common share and one full purchase warrant. Each warrant allows holders to acquire one common share at C$0.12 for a 2-year period.
The proceeds will be used to complete the final payment on the Jupiter Uranium Property, securing a 75% ownership interest, along with general working capital purposes. The offering, expected to close around March 07, 2025, will be available to accredited investors in Canada and select international markets. All securities issued will have a four-month-and-one-day holding period.
Pegasus Resources (TSX-V:PEGA, OTC:SLTFF) has announced its plans for a summer drill program on its permitted Utah uranium properties. The company aims to capitalize on potential policy changes under the incoming Trump administration that could benefit the mining sector, particularly uranium exploration.
The anticipated policy changes include: streamlined processes for project approvals, enhanced federal support for critical mineral projects, improved land access for exploration, and prioritization of mineral projects important for national security and economic independence.
CEO Christian Timmins expressed optimism about the future of mining in the USA, noting that the company's Utah-based uranium assets, including the Energy Sands and Jupiter uranium projects, are well-positioned to benefit from these potential policy shifts. Pegasus holds necessary drilling permits and is prepared to advance its projects as these policies take effect.
Pegasus Resources (TSXV:PEGA, OTC:SLTFF) has expanded its Gold Mountain Project near Golden, British Columbia through the acquisition of additional claims. The new claims cover 1,061 hectares, doubling the project area to 1,862 hectares.
Historical drilling results from 1984 showed significant mineralization, including:
- 57.62 g/t Au, 7,349.5 g/t Ag, 16.5% Cu, and 8.74% Pb over 4.14m (Drillhole A)
- 29.99 g/t Au, 6,711.3 g/t Ag, 11.0% Cu, and 14.53% Pb over 4.85m (Drillhole B)
Recent sampling in 2020-2021 confirmed high-grade mineralization with samples returning up to 6,670 g/t Ag, 8,220 ppm Sb, and 13.1% Zn. The polymetallic system extends approximately 1,100 meters in strike length and remains open in all directions.
Pegasus Resources reflects on a transformative 2024 and outlines plans for 2025 in uranium exploration. Key 2024 achievements include: successful exploration at Energy Sands with 13 samples showing over 1% U₃O₈ (peak 18.8%), acquisition of the Jupiter Project with 100+ historical drill holes, and securing Notice of Intention permits for drilling campaigns.
For 2025, the company plans drilling programs at both flagship projects: Energy Sands (18 holes, 3,200 feet total) and Jupiter (30 holes, 15,360 feet total). The company reports recent insider buying activity from CEO Christian Timmins and Director Noah Komavli, demonstrating leadership confidence.
The company aims to capitalize on favorable uranium market conditions, including growing global demand for clean energy, supply deficits, and U.S. government support through a $75 million strategic uranium reserve. Pegasus highlights Utah's strategic importance with existing infrastructure and proximity to the White Mesa Mill.
Pegasus Resources has completed its non-brokered private placement, raising total gross proceeds of $871,120 through two tranches. The final tranche raised $223,480, with units priced at $0.16 each. The offering included participation from company insiders, who acquired 450,000 units totaling $72,000. Each unit consists of one common share and a half warrant, with each full warrant exercisable at $0.20 for two years. The proceeds will fund exploration of the Energy Sands Uranium Project and Jupiter Uranium Project in Utah, along with general working capital purposes.
Pegasus Resources has secured drilling permits through the approval of a Notice of Intention (NOI) for its Energy Sands and Jupiter uranium projects in Utah. The exploration plan includes 18 drill holes at Energy Sands, averaging 178 feet depth, and 30 drill holes at Jupiter, averaging 550 feet depth. The Energy Sands Property has shown historical uranium intercepts exceeding 2% and 3% U₃O₈, while the Jupiter Property benefits from over 100 historic drill holes. The company plans to construct 48 drill pads, causing a total disturbance of 4.94 acres. The next steps involve finalizing bonding, securing funding, and mobilizing drilling crews to advance toward developing current resource estimates.
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