Pegasus Resources Inc - SLTFF STOCK NEWS

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.

Pegasus Resources Inc. (TSX-V:PEGA, OTC Pink:SLTFF) has extended its non-brokerage private placement for an additional 30 days. The offering aims to raise up to CDN$1,500,000 through the issuance of up to 9,375,000 units at CDN$0.16 per unit. Each unit includes one common share and half a warrant, with each whole warrant allowing the purchase of one common share at C$0.20 for two years.

The company has already closed the first tranche, raising $647,640.00 through 4,047,750 units. Pegasus has also hosted the Bureau of Land Management for an on-site overview of proposed drilling locations at Jupiter and Energy Sands. The closing of the offering is expected around November 01, 2024.

Pegasus Resources (TSXV:PEGA, OTC PINK:SLTFF) has closed the first tranche of its non-brokered private placement, raising $647,640. The company issued 4,047,750 units at $0.16 per unit, with each unit comprising one common share and half a warrant. Warrants are exercisable at $0.20 for 2 years. Insiders, including CEO Christian Timmins and Director Noah Komavli, participated in the offering. Finders' fees of $15,862 and 99,138 warrants were paid. Proceeds will fund exploration of uranium projects in Utah and working capital. The offering has been extended until October 5, 2024, for potential subsequent tranches.

Pegasus Resources Inc. (TSX-V:PEGA, OTC Pink:SLTFF) has announced a non-brokered private placement to raise up to C$1,500,000. The offering consists of up to 9,375,000 units at C$0.16 per unit. Each unit includes one common share and half a warrant, with each full warrant allowing the purchase of one common share at C$0.20 for two years.

The proceeds will fund exploration of the Energy Sands and Jupiter Uranium Projects in Utah, USA, and general working capital. The offering is expected to close around August 21, 2024, subject to regulatory approvals. The securities will have a four-month-and-one-day hold period. The company may pay finder's fees as permitted by TSXV and securities laws.

Pegasus Resources Inc. (TSXV: PEGA) (OTC: SLTFF) has provided an update on its uranium exploration projects, focusing on the Jupiter Project and Energy Sands in Utah. The company is preparing for a summer drilling program at Energy Sands, following successful ground sampling and historical data analysis. The recently acquired Jupiter Project, with over 100 historical drill holes, offers potential for rapid uranium resource development.

Pegasus is also advancing its Pine Channel project in the Athabasca Basin with a planned gravity survey. The company's integrated exploration strategy aims to leverage synergies between projects and enhance shareholder value. This update comes amid a positive outlook for the uranium sector, with the World Nuclear Association projecting a 28% increase in uranium demand over 2023-30.