Troubadour to Acquire 100% Ownership of High-Grade Monarch Uranium Property

Rhea-AI Summary

Troubadour Resources Inc. (TR) has announced the 100% acquisition of the High-Grade Monarch Uranium Property in the Thelon Basin, Nunavut. The property contains some of the highest-grade Uranium ever found, and the company plans to leverage previous exploration funds to rapidly generate advanced targets for a major discovery. The acquisition involves 5,500,000 common shares and a cash payment of $35,000.

Vancouver, British Columbia--(Newsfile Corp. - November 27, 2023) - TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to announce the 100% acquisition of the High-Grade Monarch Uranium Property in the Thelon Basin, Nunavut.

Blake Morgan, Director of the Company, states, "This property marks a major turn of events for TR. With Uranium at near all-time highs and a new multi-million dollar staking rush happing all around the region, we have stamped our mark and made the move. With some of the highest-grade Uranium ever found on this asset, we will push the boundaries of new technologies and move towards a major discovery. We will leverage $1,000,000 in previous exploration to rapidly generate advanced targets and the team will have more information regarding this asset coming soon."

Terms of Acquisition

The Company has entered into an arm's length purchase and sale agreement to acquire 100% ownership of the Monarch Uranium Property for 5,500,000 common shares and a cash payment of $35,000 upon closing.

About the Monarch Uranium Property

• A significant boulder field has been previously defined, with high values of Uranium discovered on the property.

• Sits stratigraphically above the unconformity between the Thelon Basin and the underlying metasediments basement.

• The intersection of reactivated faults and unconformities is highly prospective for uranium deposits as seen in properties like Cigar Lake, Key Lake.

About Troubadour

TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The Texas gold property diversifies the Company's commodity focus and compliments Troubadour's Amarillo copper project located 10 km south of the past-producing Brenda Mine in southern BC and 35 km east of Kodiak Copper's MPD discovery.

For further information please contact:

Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
geoff@troubadourresources.com

Forward-Looking Information

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to 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 RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188740

FAQ

What did Troubadour Resources Inc. (TR) announce?

The company announced the 100% acquisition of the High-Grade Monarch Uranium Property in the Thelon Basin, Nunavut.

What are the terms of the acquisition?

The acquisition involves 5,500,000 common shares and a cash payment of $35,000.

Who is the Director of Troubadour Resources Inc. (TR)?

Blake Morgan is the Director of the Company.

What is the ticker symbol for Troubadour Resources Inc. on the TSXV?

The ticker symbol for Troubadour Resources Inc. on the TSXV is TR.

What is the ticker symbol for Troubadour Resources Inc. on the OTC Pink?

The ticker symbol for Troubadour Resources Inc. on the OTC Pink is TROUF.