RETRANSMISSION: Sienna Acquires the 10,357 acre "Uranium Town Project" Bordering Denison Mines Corporation in the Athabasca Basin of Saskatchewan, Canada

Rhea-AI Summary

Sienna Resources Inc. has acquired two significant uranium projects in the Athabasca Basin of Saskatchewan, known for its high-grade uranium deposits. The company aims to build shareholder value by working on projects with high potential in mining-friendly jurisdictions.

Positive

• Sienna Resources Inc. has acquired the 'Uranium Town Project' and the 'Dragon Uranium Project' in the Athabasca Basin of Saskatchewan, home to the highest-grade uranium deposits in the world.
• The Fraser Institute ranked Saskatchewan as number one in Canada and the second-best jurisdiction globally in 2021, indicating a favorable mining environment.
• The company's management is committed to building shareholder value by acquiring and working on projects with high potential in mining-friendly jurisdictions.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - January 24, 2024) - Sienna Resources Inc. (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) ("Sienna" or the "Company") is pleased to announce that it has acquired 10,357 acre "Uranium Town Project" bordering Denison Mines Corporation (DML, DNN) in the Athabasca Basin of Saskatchewan. The Athabasca Basin is home to the highest-grade uranium deposits in the world, which includes the highest grade uranium mine in the world owned by Cameco Corporation. In 2021, the Fraser Institute ranked Saskatchewan as number one in Canada, the second-best jurisdiction globally. Sienna management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative of the presence of mineralization on the company's properties.

Recently (January 17, 2024) Sienna acquired the 10,845 contiguous acre "Dragon Uranium Project" bordering Cameco Corporation (CCO, CCJ) in the Athabasca Basin of Saskatchewan.

Jason Gigliotti, President of Sienna states, "We are very pleased to add a second uranium project to Sienna's landholdings. Management's goal is to build shareholder value by acquiring and working on projects with the highest potential in the most mining friendly jurisdictions. We plan to be very active in the uranium space and have the cash on hand to execute this game plan."

About Sienna Resources Inc.

Sienna has recently acquired the 10,357 acre "Uranium Town Project" bordering Denison Mines Corporation (DML, DNN) and the 10,845 contiguous acre "Dragon Uranium Project" bordering Cameco Corporation (CCO, CCJ) in the world renowned Athabasca Basin of Saskatchewan. Also, Sienna recently expanded the "Elko Lithium Project" in Elko County, Nevada. This project consists of approximately 1840 contiguous acres directly bordering Surge Battery Metals' (NILI) "Nevada North Lithium Project" in Elko County, Nevada. Sienna is also one of the larger landholders in Clayton Valley Nevada. Sienna's Clayton Valley projects include the Blue Clay Lithium Project, the Silver Peak South Project, and the Clayton Valley Deep Basin Lithium Project. Clayton Valley is home to the only lithium production in North America, being Albemarle Corp's (ALB) Silver Peak deposit. This project is also near Tesla Motors Inc.'s (TSLA) Gigafactory in Nevada. On March 18, 2021, Schlumberger New Energy Venture (SLB) announced the development of a lithium extraction pilot plant through its new venture, NeoLith Energy in a strategic partnership with Pure Energy (PE). The deployment of the pilot plant will be in Clayton Valley, Nevada, USA. The NeoLith Energy sustainable approach uses a differentiated direct lithium extraction (DLE) process to enable the production of high-purity, battery-grade lithium material while reducing the production time from over a year to weeks. Results from this pilot plant are expected in 2024 and could have a significant impact on the brine prospects within Clayton Valley Nevada as Sienna is located in the deepest section of this brine deposit.

This project was acquired via staking.

Qualified Person:

Mr. Frank Bain, PGeo, a qualified person as defined by National Instrument 43-101 has reviewed and approved the scientific and technical disclosure contained within this news release.

If you would like to be added to Sienna's email list, please email info@siennaresources.com for information or join our twitter account at @SiennaResources.

Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
info@siennaresources.com

"Jason Gigliotti"
President, Director
Sienna Resources Inc.

Statements in this news release that are not historical facts are forward-looking statements. Forward-Looking statements are statements that are not historical, and consist primarily of projections - statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar import tend to identify forward-looking statements. Forward-Looking statements in this news release include uncertainty of exploration and development plans regarding the property; commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company's ability to attract and retain qualified personnel and management; potential labour unrest; reclamation and closure requirements for mineral properties and the availability of capital to fund the Company's projects, as well as other risks and uncertainties identified under the heading "Risk Factors" in the Company's continuous disclosure documents filed on SEDAR. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. The Company cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. These forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and the Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its 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 press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195444

FAQ

What projects has Sienna Resources Inc. acquired in the Athabasca Basin of Saskatchewan?

Sienna Resources Inc. has acquired the 'Uranium Town Project' and the 'Dragon Uranium Project' in the Athabasca Basin of Saskatchewan.

Where are the highest-grade uranium deposits in the world located?

The highest-grade uranium deposits in the world are located in the Athabasca Basin of Saskatchewan.

What is the Fraser Institute's ranking of Saskatchewan in 2021?

The Fraser Institute ranked Saskatchewan as number one in Canada and the second-best jurisdiction globally in 2021.

What is Sienna Resources Inc.'s goal in acquiring new projects?

Sienna Resources Inc.'s goal is to build shareholder value by acquiring and working on projects with high potential in mining-friendly jurisdictions.