Pegasus Resources Inc - SLTFF STOCK NEWS

Pegasus Resources has secured exclusive rights to the Jupiter Uranium Project in Emery County, Utah. The acquisition involves a 100% interest in the Jupiter Project, consisting of 48 unpatented claims.

Previously explored by Atlas Minerals, the project features over 100 drill holes indicating substantial uranium potential. Pegasus plans to use historical data to guide new exploration initiatives, including twinning old drill holes and defining new targets to create a resource estimate.

The agreement includes issuing 2.2 million shares and making cash payments totaling $100,000. Pegasus will also conduct a 1500-meter drilling program within a year. The vendor retains a Net Smelter Return Royalty and will receive bonuses for additional uranium discoveries. The acquisition complements Pegasus’s existing Energy Sands Project, offering investors opportunities in both resource development and potential new discoveries.

On June 18, 2024, Pegasus Resources announced that all resolutions were passed at their Annual General Meeting. Shareholders elected Christian Timmins, Dave Bissoondatt, Noah Komavli, and Derrick Strickland as directors for the upcoming year. The number of directors remains four. Crowe MacKay LLP will continue as the auditor for the ensuing year, with remuneration set by the directors. Additionally, the company's 10% rolling stock option plan received shareholder approval.

Pegasus Resources has retained Dahrouge Geological Consulting to develop a preliminary geological model for its Energy Sands project in Utah, based on detailed geological mapping and sampling completed in Q1 2024. The gathered data, combined with the 2015 Utah Geological Survey map, was used to define drill targets and support the submission of a Notice of Intent to the BLM. Historical drilling data from 1975 was also incorporated, providing valuable insights into the property's uranium and vanadium mineralization. Field samples previously returned values of 3.55% U3O8 and 5.34% V2O5. This model will guide future drilling campaigns.

Pegasus Resources announced the grant of stock options to directors, consultants, and officers. A total of 575,000 common shares can be purchased at C$0.19 per share. These options expire in three years. The issuance is part of Pegasus's stock option plan and complies with TSX Venture Exchange requirements.

CEO Chris Timmins discusses latest assay results and 2024 upcoming drill program for Energy Sands Project

Pegasus Resources Inc. announces significant findings from its recent sampling program at the Energy Sands project in Utah, with 13 samples showing uranium grades exceeding 1%, including one at 18.8% U3O8. The CEO expresses confidence in the high-grade uranium potential, leading to plans for drill targeting and permit applications. The Company collected 41 grab samples, focusing on advancing exploration efforts and maximizing asset value. Pegasus aims to finalize drill targets and obtain permits for a proposed summer drill program, aligning with its commitment to sustainable resource development.

Pegasus Resources Inc. proudly announces the appointment of Mr. Mike Magrum, P. Eng, to the Company's Advisory Board. Mike Magrum, P.Eng. has almost 50 years of experience in geological engineering and has worked extensively in uranium exploration. The company also granted incentive stock options to certain directors and consultants to purchase a total of 250,000 common shares in the capital stock of the Company.

Pegasus Resources Inc. (SLTFF) appoints Derrick Strickland, P. Geo, MBA, as a new member of the Board of Directors, bringing over 35 years of experience in the exploration industry. His extensive expertise in geological and corporate advisory, international exposure, and industry engagement makes him a valuable addition to the leadership team. The Company also announces the resignation of Mr. Lorne McCarthy from the Board of Directors, aligning with Pegasus' commitment to fostering a knowledgeable and experienced leadership team.

Pegasus Resources Inc. (SLTFF) has completed a geological mapping and sampling program on its Energy Sands property in Utah, collaborating with Dahrouge Geological Consulting USA Ltd. A total of 41 samples were collected, with sample ESRS24-037 showing a significant 7800 ppm reading, indicating substantial mineralization. The samples have been submitted to SGS Laboratories Services for detailed analysis. The historical report outlines small-scale production of uranium by the Minerals Corporation of America between 1953 and 1956. The technical content of the news release has been reviewed and approved by a Qualified Person under National Instrument 43-101.