Urano Energy Completes Acquisition of Uranium Properties in Utah and Colorado
Urano Energy Corp has completed the acquisition of fifteen uranium properties in Utah and Colorado, totaling 345 claims covering 8,200 acres within the Colorado Plateau region. Fourteen properties have historical production history, featuring over two dozen former mine portals and shafts. The acquisition expands Urano's uranium portfolio to 21,840 acres across the Uravan Mineral Belt, La Sal, and Lisbon Valley Districts.
The transaction involves payments of US$5.825 million in cash and US$4.8 million in shares over five years. Key assets include the Green River Property with existing mining permits, and properties in the Lisbon Valley region, which historically produced 78 million pounds of uranium. The company plans to prepare technical reports on its Melinda Project and Green River property by Q1 2025.
Urano Energy Corp ha completato l'acquisizione di quindici proprietà uranifere in Utah e Colorado, per un totale di 345 richieste che coprono 8.200 acri nella regione del Colorado Plateau. Quattordici proprietà hanno una storia di produzione storica, con oltre due dozzine di ex portali e pozzi minerari. L'acquisizione amplia il portafoglio di uranio di Urano a 21.840 acri attraverso i distretti dell'Uravan Mineral Belt, La Sal e Lisbon Valley.
La transazione prevede pagamenti di US$5,825 milioni in contanti e US$4,8 milioni in azioni nel corso di cinque anni. I principali asset includono la proprietà Green River con permessi minerari esistenti e proprietà nella regione di Lisbon Valley, che storicamente ha prodotto 78 milioni di libbre di uranio. L'azienda prevede di preparare rapporti tecnici sul suo progetto Melinda e sulla proprietà Green River entro il primo trimestre del 2025.
Urano Energy Corp ha completado la adquisición de quince propiedades de uranio en Utah y Colorado, totalizando 345 reclamos que cubren 8,200 acres en la región de la meseta de Colorado. Catorce propiedades tienen un historial de producción, con más de dos docenas de antiguos portales y pozos mineros. La adquisición amplía la cartera de uranio de Urano a 21,840 acres en los distritos de Uravan Mineral Belt, La Sal y Lisbon Valley.
La transacción involucra pagos de US$5.825 millones en efectivo y US$4.8 millones en acciones durante cinco años. Los activos clave incluyen la propiedad Green River con permisos mineros existentes y propiedades en la región de Lisbon Valley, que históricamente produjeron 78 millones de libras de uranio. La compañía planea preparar informes técnicos sobre su proyecto Melinda y la propiedad Green River para el primer trimestre de 2025.
우라노 에너지 코퍼레이션은 유타주와 콜로라도주에서 15개의 우라늄 부동산을 인수 완료했으며, 총 345개의 청구권이 콜로라도 고원 지역의 8,200에이커를 포함합니다. 14개의 부동산은 역사적인 생산 이력이 있으며, 2도 이상의 옛 광산 포털과 갱이 있습니다. 이번 인수로 우라노의 우라늄 포트폴리오는 21,840에이커로 확장되었습니다. 이는 우라반 미네랄 벨트, 라 솔, 리스본 밸리 지구를 포함합니다.
이 거래에는 5년 동안 US$5.825 백만의 현금과 US$4.8 백만의 주식 지급이 포함됩니다. 주요 자산으로는 기존 광산 허가가 있는 그린 리버 부동산과 역사적으로 7800만 파운드의 우라늄을 생산한 리스본 밸리 지역의 부동산이 포함됩니다. 이 회사는 2025년 1분기까지 멜린다 프로젝트와 그린 리버 부동산에 대한 기술 보고서를 준비할 계획입니다.
Urano Energy Corp a finalisé l'acquisition de quinze propriétés d'uranium dans l'Utah et le Colorado, totalisant 345 revendications couvrant 8 200 acres dans la région du Colorado Plateau. Quatorze propriétés ont un historique de production, comprenant plus de deux douzaines d'anciens portails et puits de mine. Cette acquisition élargit le portefeuille d'uranium d'Urano à 21 840 acres dans les districts de l'Uravan Mineral Belt, La Sal et Lisbon Valley.
La transaction implique des paiements de 5,825 millions de dollars US en liquidités et 4,8 millions de dollars US en actions sur une période de cinq ans. Les actifs clés comprennent la propriété de Green River avec des permis miniers existants et des propriétés dans la région de Lisbon Valley, qui a historiquement produit 78 millions de livres d'uranium. L'entreprise prévoit de préparer des rapports techniques sur son projet Melinda et la propriété de Green River d'ici le premier trimestre 2025.
Urano Energy Corp hat den Erwerb von fünfzehn Uran-Immobilien in Utah und Colorado abgeschlossen, die insgesamt 345 Ansprüche umfassen und eine Fläche von 8.200 Acres im Colorado-Plateau-Gebiet abdecken. Vierzehn Immobilien haben eine historische Produktionsgeschichte und verfügen über mehr als zwei Dutzend ehemaliger Mineingänge und Schachtanlagen. Der Erwerb erweitert Uranos Uranportfolio auf 21.840 Acres in den Bezirken Uravan Mineral Belt, La Sal und Lisbon Valley.
Die Transaktion umfasst Zahlungen von US$5.825 Millionen in bar und US$4.8 Millionen in Aktien über einen Zeitraum von fünf Jahren. Zu den wichtigsten Vermögenswerten gehören die Green River Immobilie mit bestehenden Bergbaugenehmigungen und Immobilien in der Lisbon Valley Region, die historisch 78 Millionen Pfund Uran produziert hat. Das Unternehmen plant, bis zum ersten Quartal 2025 technische Berichte über sein Melinda-Projekt und das Grundstück Green River zu erstellen.
- Acquisition adds 8,200 acres of uranium properties with historical production
- Green River Property comes with existing underground mining and surface use permits
- Lisbon Valley properties are in a region that historically produced 78M pounds of uranium
- Most properties have accessible infrastructure and year-round road access
- Transaction structure allows property return option if payments aren't made, limiting downside risk
- Significant financial commitment of US$10.625M over five years
- Historical production data requires verification and additional exploration
- 1% uranium royalty and 10% vanadium royalty obligations to vendors
- Additional costs for technical reports and exploration work required
CSE: UE
OTCQB: UECXF
www.uranoenergy.com
The acquisition of the Properties adds significantly to the Company's growing uranium portfolio. Prior to the acquisition, the Company held three properties in
Jason Bagg, Chief Executive Officer of Urano Energy, stated, "The acquisition of these properties, most of which had historic production in leading uranium producing districts, is important to the development and growth of Urano Energy. These projects, featuring accessible, shallow, tabular-style deposits, provide the Company with a variety of development and strategic opportunities."
To view the project map please visit: https://bit.ly/3ZhVBwa
- Each of the fifteen Properties is recognized for containing sandstone-hosted uranium mineralization;
- The Green River Property, near
Green River, Utah is a highly prospective uranium asset with an existing underground mining permit and surface use permit; - Most project sites host previous underground uranium workings;
- A solid working relationship with the vendors provides the Company local expertise in permitting, drilling and underground mining;
- All properties are accessible year-round by road, and are in proximity to local communities and services;
- Exploration work is expected to commence with confirmatory drilling and the digitization of a comprehensive library of geological data, past production records, and mine plans.
Uranium Mining in
Uranium mining in
Today, the Uravan Mineral Belt remains a key area for uranium exploration, with modern mining techniques targeting its historical deposits and new opportunities for production as global demand for uranium continues to grow. The region's rich history of uranium mining has established
Property Details
Property Name | State | County | Mineral Belt | Claims/Leases | Area (Acres) | Status* | |
1 | Vanadium Queen/UH3/Blue Cap/Black Hat | San Juan | La Sal Creek | 10 | 206.0 | Past Producer - Known Deposit | |
2 | Hop Creek | San Juan | La Sal Creek | 11 | 226.6 | Exploration - Known Deposit | |
3 | North Lisbon Valley | San Juan | Lisbon Valley | 41 | 844.6 | Past Producer - Known Deposit | |
4 | King Pin (Carpenter Flats) | Uravan | 2 | 41.2 | Past Producer - Known Deposit | ||
5 | East LaSal & West LaSal | San Juan | La Sal | 52 | 2150.0 | Past Producer - Known Deposit | |
6 | Central Lisbon Valley | San Juan | Lisbon Valley | 59 | 1215.4 | Past Producer - Known Deposit | |
7 | Bachelor | San Miguel | Uravan | 10 | 206.0 | Past Producer - Known Deposit | |
8 | Dulaney | San Miguel | Uravan | 6 | 123.6 | Past Producer - Known Deposit | |
9 | Chips | Uravan | 9 | 185.4 | Past Producer - Known Deposit | ||
10 | October | Uravan | 11 | 226.6 | Past Producer - Known Deposit | ||
11 | Lasal Creek | La Sal Creek | 4 | 82.4 | Past Producer - Known Deposit | ||
12 | Deer / Nil | Uravan | 30 | 618.0 | Past Producer - Known Deposit | ||
13 | Bull Canyon | Uravan | 47 | 988.8 | Past Producer - Known Deposit | ||
14 | Eagle | Uravan | 4 | 82.4 | Past Producer - Known Deposit | ||
15 | Emery | Proximity to the San Rafael Swell | 49 | 1009.4 | Past Producer - Known Deposit | ||
TOTALS | 345 | 8206.4 |
*Note that past production is not indicative of future production, and significant additional confirmatory and exploration work is required to evaluate mineralization within historical deposit areas. |
Green River Property - The project is 49 claims (1,009 acres) and is located just off Interstate 70. The property is accessible to established infrastructure, offering significant logistical and operational advantages for resource development.
A historically productive site, the Green River Property is located in the San Rafael District, a region renowned for its uranium-rich geology. The property is fully permitted for small-scale underground mining and surface disturbance, enabling Urano Energy to initiate targeted operations with efficiency and minimal regulatory delay.
A significant quantity of detailed data has been acquired along with the property and permits. Specifically the Company has access to a full set of 1 inch to 50 foot plane table maps of the underground workings compiled by the previous operator, Atlas Minerals. These maps show elevation, thickness and grade of all drill hole intercepts and are complete through the date production stopped. A proprietary intra-company report dated 1984 provides historical estimates of remaining resources at the time of mine closure. The Company will be systematically verifying and integrating this data to provide reliable estimates for the Green River Property.
With its combination of historical production, surface mineralization, active permits, and strategic location, the Green River Property presents a compelling opportunity to establish a mineral resource with the potential for further project development. This aligns seamlessly with Urano Energy's commitment to advancing high-quality domestic uranium resources to meet the growing demand for clean, sustainable energy solutions.
North Lisbon Valley & Central Lisbon Valley - The project package contains 100 claims covering 2,060 acres (8.3 square kilometers). The Lisbon Valley region is a historic uranium-producing district, spanning 16 miles in length and up to 1 mile in width. This region produced 78 million pounds of uranium between 1948 and 1988, accounting for
Lisbon Valley ranks as the second-most productive uranium area of its size in
The district also offers significant exploration potential in the underlying Cutler Formation, which contains extensive sandstone units identified in the late 1970's as economically viable hosts for uranium.3
The vendors have provided the Company with a significant database for the Property consisting of drill logs for the most recent exploration conducted by Vane Minerals between 2007 and 2009. Lithology logs, property and workings maps at scales of 1" to 100 ' and 1" to 200 ' compiled by Homestake Minerals as well as various proprietary reports will be verified and integrated to prepare a formal exploration program to identify and quantify any remaining mineralization from past production areas as well as testing the underlying Cutler formation for uranium mineralization.
East La Sal & West La Sal - The project is comprised of 52 claims spanning over 2,150 acres (8.7 square kilometers) and covers the probable extension zones of the La Sal Mineral Belt. This Belt has produced over 7 million pounds of uranium and over 30 million pounds of vanadium. This is the same mineralized channel that hosts an active mining company's La Sal Mines Complex, of which the Pandora,
The Company has access to detailed mine maps of the Sunset Mine, which include critical information such as thickness, grade, and elevation. It also has access to reports from Union Carbide that provide resource calculations, though these indicate that only minimal resources remain unmined. Additionally, the Company has acquired detailed mine and drill maps created by Union Carbide, Mineral Reserve Corporation, Cotter Corporation, and General Electric that highlight adjacent mineralization that extends directly to the Company's property line on both the east and west sides. Data verification and integration will be applied to target future drilling along trend from known mineralization.
Dulaney – Building on Urano Energy's current claims the project adds another 6 claims and 123 acres (0.5 square kilometers) to the property, giving the Company a total of 122 claims covering over 1,659 acres (6.7 square kilometers). This consolidates the Delaney area, which lies between two Department of Energy uranium lease blocks, with multiple noted occurrences of uranium.
The Company has access to detailed underground maps and select drill logs by Cotter Corporation including proprietary historic resource estimates. The Company will verify and integrate this data to plan the best path forward for this project.
Additional Properties - The Company acquired significant data in connection with the transaction, including various amounts and types of data for the remaining properties. The Company will work towards verification and compilation of this data on a property by property basis as corporate resources allow.
The Company plans to prepare technical reports pursuant to the requirements of National Instrument 43-101 on its existing Melinda Project and the recently acquired
Terms of the Transaction
The Company acquired the
Payable Date | Value payable in Cash (USD) | Value payable in Shares (USD) |
On Closing | 775,000 | 1,300,000 |
First anniversary | 1,010,000 | 800,000 |
Second anniversary | 1,010,000 | 800,000 |
Third anniversary | 1,010,000 | 800,000 |
Fourth anniversary | 1,010,000 | 800,000 |
Fifth anniversary | 1,010,000 | 800,000 |
The above payments are secured by a limited recourse promissory note in favor of each vendor, which allows the properties to be transferred back to the applicable vendor in the event Urano does not proceed with any payment, without further recourse against Urano. Urano has also granted the vendors a
Qualified Person
Technical information in this news release has been approved by Douglas Underhill, PhD. Geology, MBA, CPG, a Director of Urano Energy Corp. and "Qualified Person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Urano Energy Corp.
Urano Energy is a mineral exploration company focused on conventional uranium assets in the United States. The Company also holds a portfolio of gold and copper projects in
1Chenoweth, William L., 1981, "The Uranium-Vanadium Deposits of the Uravan Mineral Belt and Adjacent Areas, |
2Chenoweth, 2006, Utah Geological Association Publication 32 |
3Chenoweth, 2006, Utah Geological Association Publication 32 |
The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties and can be identified by the use of forward-looking terminology such as "expected", "will be", "anticipated", "may" or variations of such words and phrases or statements that certain actions, events or results "will" occur. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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SOURCE Urano Energy Corp.
FAQ
What is the total value of Urano Energy's (UECXF) uranium property acquisition in Utah and Colorado?
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When will Urano Energy (UECXF) release technical reports for its Green River property?
