|From: LoneClone||4/12/2019 12:37:26 PM|
|Skyharbour/Azincourt/Clean Commodities VTEM Survey Completed and Adds to East Preston Prospectivity|
April 11, 2019 16:30 ET | Source: Skyharbour Resources Ltd
VANCOUVER, British Columbia, April 11, 2019 (GLOBE NEWSWIRE) -- Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB:SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that its partner company Azincourt Energy Corp. (“Azincourt”) has preliminary results from the recent helicopter-borne Versatile Time-Domain Electromagnetic (VTEM™ Max) and Magnetic survey conducted over the southeastern portion of the East Preston Uranium Project, located in the western Athabasca Basin, Saskatchewan.
Preston Uranium Project Map:
The survey was conducted between January 23rd and February 6th, 2019, and completed survey coverage over the entire 25,000-ha project area. This survey consisted of 498 line-km with 300 m line spacing and 1,000 m tie-line spacing – identical parameters to the previous VTEM™ Max survey, and ties directly into the previous flight lines. Flight lines are oriented NW-SE, perpendicular to the NE-SW trending structural and conductor trends of the basement rocks at East Preston.
Geotech, the survey provider, is finalizing final reports, but has completed data processing and has provided a merged dataset covering the entire East Preston project by combining the newly acquired VTEM survey data with the original VTEM data coverage. In-depth interpretation is on-going by Bingham Geoscience, geophysical consultants to Azincourt. Results of the interpretation will be reported once received and reviewed.
The initial interpretation of this new survey data has added an additional 7.5 km to 10 km along two of the same prospective previously-known conductive trends. There are offset breaks in the conductor trends with multiple, discreet conductors interpreted.
East Preston VTEM Survey:
More in-depth interpretation is on-going and will be used to add to the East Preston target inventory for future exploration drill testing.
VTEM Survey Grid – Completed January 2019:
The survey consisted of 498 line-km with 300 m line spacing and 1,000 m tie-line spacing – identical parameters to the previous VTEM™ Max survey, and ties directly into the previous flight lines, oriented NW-SE, perpendicular to the NE-SW trending structural and conductor trends of the basement rocks at East Preston. 100% of the East Preston ground has now been subject to VTEM Max survey.
Geotech is currently completing data processing prior to passing to Azincourt consultants for in-depth interpretation. This new survey data will be used to add targets for future exploration drill testing and does not affect the current planned drill campaign.
East Preston Geophysical Work - Winter 2018:
Azincourt completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near previous drilling along the Swoosh corridor.
The work included 51.5 km of grid preparation (line cutting/picketing), 46.1 km of horizontal loop electromagnetic (HLEM), and 40.6 km of ground gravity along the previously known airborne helicopter VTEM conductive trends.
Skyharbour and Clean Commodities entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt has an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Under the Agreement, Azincourt has issued common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities, as well as $2,500,000 in exploration expenditures over the three-year period.
Skyharbour also announces that it has reached an agreement with Azincourt in which The Company has agreed to accept 2,000,000 common shares (the “Settlement Shares”) of Azincourt Shares in settlement of a portion of the second year cash payment owing to Skyharbour in connection with the acquisition of an interest in the East Preston Uranium Project. As partial consideration for this interest in the project, a payment of $150,000 is owing to Skyharbour. The Settlement Shares are being issued in settlement of $100,000 of the payment owing to Skyharbour and are being issued at a deemed price of $0.05 per share. The balance of $50,000 owing to Skyharbour will be paid in cash.
Completion of the issuance of the Settlement Shares remains subject to the approval of the TSX Venture Exchange. Following issuance, the Settlements Shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour's Head Technical Advisor and a Qualified Person.
About Skyharbour Resources Ltd.:
Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with five drill-ready projects. In July 2016, Skyharbour acquired an option from Denison Mines, a large strategic shareholder of the Company, to acquire 100% of the Moore Uranium Project which is located approx. 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone with drill results returning up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high-grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company's 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.
SKYHARBOUR RESOURCES LTD.
President and CEO
For further information contact myself or:
Corporate Development and Communications
Skyharbour Resources Ltd.
Toll Free: 800-567-8181
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
More articles issued by Skyharbour Resources Ltd More articles related to: Company Announcement
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|To: LoneClone who wrote (18157)||4/12/2019 12:41:56 PM|
|Ur-Energy Provides 2019 Q1 Operational Results |
Ur-Energy Inc. Apr 11, 2019, 17:14 ET
LITTLETON, Colo., April 11, 2019 /CNW/ -- Ur-Energy Inc. (NYSE American:URG)(TSX: URE) (the "Company" or "Ur-Energy") is pleased to provide the following operational results for first quarter 2019.
|Lost Creek Operations |
| ||Units |
|2019 Q1 |
| ||2018 Q4 |
| || || || || |
|U3O8 Captured |
|('000 lbs) |
| ||48.4 |
|U3O8 Dried & Drummed |
|('000 lbs) |
| ||53.7 |
|U3O8 Sold (from produced lbs) |
|('000 lbs) |
| ||0 |
|U3O8 Sold (from purchased lbs) |
|('000 lbs) |
| ||0 |
| || || || || |
|Average Flow Rate |
| ||2,019 |
|U3O8 Head Grade |
| ||23 |
| || || || || || |
Lost Creek Uranium Production and Sales
For the quarter, 22,551 pounds of U3O8 were captured within the Lost Creek plant, and 21,015 pounds of U3O8 were packaged in drums at the Lost Creek processing plant. No shipments of product were made to the conversion facility during the quarter. At March 31, 2019, inventory at the conversion facility was approximately 375,803 pounds U3O8.
In Q1 2019, sales totaled $4.8 million from 97,500 pounds sold. Our price per pound sold averaged $49.35. Half of these pounds were from Lost Creek production, produced at a cost of approximately $37.74 per pound, and half were pounds purchased for delivery, with an average purchase price of $27.51 per pound. Gross profits from contractual sales were $1.6 million, which represents a gross profit margin of approximately 34%. On a cash basis (excluding non-cash costs and extraction taxes), gross profits from contractual sales generated $2.3 million in cash, which represents a cash-basis gross profit margin of approximately 48%.
Lost Creek Operations
Production rates at Lost Creek during the quarter were in line with guidance for the year despite more difficult than normal winter weather conditions in Wyoming. Heavy snows and high winds impeded routine flow and production maintenance and hindered normal production activities. Notwithstanding the weather and site conditions, our staff remained safe, with our continuing safety record at Lost Creek intact, which now stands at over 600 days without a lost-time accident.
Section 232 Trade Action
The Department of Commerce ("DOC") continues its investigation into the impact of uranium imports on national security, and is nearing the statutory deadline to submit its report to the White House. It is anticipated that DOC will submit its report to the President, containing the Secretary's findings and recommendations of a proposed remedy, if any, very shortly. Following receipt of the report, the President has up to 90 days to act on the Secretary's report.
Guidance for 2019
In calendar year 2019, we expect to produce between 75,000 and 100,000 pounds at Lost Creek and deliver a total of 500,000 pounds into our term contracts at an average price of approximately $49 per pound. We have purchase contracts in place for 500,000 pounds at an average cost of $26 per pound. In total, 451,250 pounds of purchased product and 48,750 pounds of produced product will be delivered into the term contracts. Gross profits are expected to be approximately $11.0 million, which represents a gross profit margin of approximately 45%. On a cash basis (excluding non-cash costs and extraction taxes), gross profits from contractual sales are expected to generate $11.7 million in cash, which represents a cash-basis gross profit margin of approximately 47%. As discussed above, 97,500 pounds, including the 48,750 pounds from production, were sold in Q1 2019. We do not anticipate selling any additional produced pounds in 2019. By quarter, our remaining 2019 contractual sales are as follows: 100,000 pounds in Q2; 122,500 pounds in Q3; and 180,000 pounds in Q4.
Should uranium pricing continue to improve, or following a successful outcome of the ongoing Section 232 uranium investigation, we stand ready to ramp up production to full capacity at Lost Creek and initiate development activities at Shirley Basin. We remain operationally ready to increase production through the further development of our fully-permitted mine unit two ("MU2") at Lost Creek. Lost Creek operations could increase production rates in as little as six months following a "go" decision simply by developing additional header houses within MU2. Development expenses during this time are estimated to be less than $14 million and are almost entirely related to MU2 drilling and header house construction costs. Lost Creek does not require any significant capital expenditures in order to increase production, but we will continue to optimize site operations through engineering design enhancements and modifications. The Lost Creek plant has been well maintained and is ready to receive additional flows for increased production when warranted.
We will provide further guidance in our Form 10-Q, which is currently anticipated to be filed on Friday, May 3, 2019, and throughout the year as matters progress.
Ur-Energy is a uranium mining company operating the Lost Creek in-situ recovery uranium facility in south-central Wyoming. We have produced, packaged and shipped approximately 2.5 million pounds from Lost Creek since the commencement of operations. Applications are under review by various agencies to incorporate our LC East project area into the Lost Creek permits, and to construct and operate at our Shirley Basin Project. Ur-Energy is engaged in uranium mining, recovery and processing activities, including the acquisition, exploration, development and operation of uranium mineral properties in the United States. Shares of Ur-Energy trade on NYSE American under the symbol "URG" and on the Toronto Stock Exchange under the symbol "URE." Ur-Energy's corporate office is in Littleton, Colorado; its registered office is in Ottawa, Ontario. Ur-Energy's website is www.ur-energy.com.
FOR FURTHER INFORMATION, PLEASE CONTACT
Jeffrey Klenda, Chair and CEO
Cautionary Note Regarding Forward-Looking Information
This release may contain "forward-looking statements" within the meaning of applicable securities laws regarding events or conditions that may occur in the future (e.g., continuing results of Lost Creek operations and the timing and ability to ramp up operations; timing and outcome for resolution of the Section 232 trade action or other changes to the uranium market; timing and outcome for all permitting and licensure of the Shirley Basin project and for the subsequent buildout of the project; projected sales and costs of sales; and whether adjustments of production rates at Lost Creek will be necessary or appropriate during 2019) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic and competitive risks, uncertainties and contingencies. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, fluctuations in commodity prices; capital and other costs varying significantly from estimates; failure to establish estimated resources and reserves; the grade and recovery of uranium which is mined varying from estimates; production rates, methods and amounts varying from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; inflation; delays in development and other factors described in the public filings made by the Company at www.sedar.com and www.sec.gov. Readers should not place undue reliance on forward-looking statements. The forward-looking statements contained herein are based on the beliefs, expectations and opinions of management as of the date hereof and Ur-Energy disclaims any intent or obligation to update them or revise them to reflect any change in circumstances or in management's beliefs, expectations or opinions that occur in the future.
SOURCE Ur-Energy Inc.
Related Links ur-energy.com
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|To: LoneClone who wrote (18158)||4/12/2019 12:50:23 PM|
|Appia Confirms Anomalous Radioactivity in 6 of 8 Drill Holes on the Loranger Uranium Property |
Toronto, Ontario--(Newsfile Corp. - April 9, 2019) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia") is pleased to report that the winter diamond drill program (the "Program") on the Loranger property (the "Property") has been successfully completed. The Property is located 28 km southeast of Cameco's Rabbit Lake mill, Athabasca Basin, northern Saskatchewan.
A total of 1,063 metres was completed in eight drill holes covering three target areas. Anomalous radioactivity, hydrothermal alteration styles (bleaching, clay minerals, hematite and limonite redox fronts, smoky quartz, and chlorite), and re-mobilized ductile/brittle structural zones were intersected within each target area.
Mr. James Sykes, Appia's Vice-President, Exploration and Development, comments: "We are encouraged with the new drill results and remain confident that the Loranger property is highly prospective for high-grade uranium occurrences. We've observed a combination of radioactivity, alteration and structural styles, and characteristic mineral assemblages that all share visual similarities with nearby basement-hosted Athabasca high-grade uranium deposits (e.g., Eagle Point, Roughrider). The information we've gained from these drill holes has provided us with additional insight to guide future exploration programs on the Loranger property".
Together with the 2017 program, the Company has tested 5 of the 22 previously identified gravity low targets and covered only 2.3 km of the 94.0 total km of conductive strike length; with a cumulative total of 15 drill holes and 2,524 total metres drilled. The Company remains well-funded to continue the 2019 Rare Earth Element ground exploration program and drilling at Alces Lake and the uranium properties.
A downhole HLP 2375 natural gamma-ray spectrometer probe manufactured by Mt. Sopris was used to measure all natural gamma radiation in counts-per-second ("cps") in the drill holes. The reader is cautioned that Appia uses natural gamma-ray readings only as a preliminary indication of the presence of radioactive materials (uranium-, thorium- and/or potassium-rich minerals) and that the results may not be used directly to quantify or qualify uranium concentrations within the rock. The Company considers all HLP 2375 readings greater than 300 cps to be anomalous radioactivity.
All drill core samples have been sent to Saskatchewan Research Council's Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, SK, for uranium, multi-element and REE analysis, and determination of source(s) and concentrations of radioactive materials. Lab analysis results will be announced as soon as they are received and reviewed by the Company.
The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo, Advisor to the Board of Directors of Appia, and a Qualified Person as defined by National Instrument 43-101.
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors. The Company is currently focusing on delineating high-grade critical rare earth elements ("REE") and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 64,045 hectares (158,259 acres) in Saskatchewan.
The Company also has a 100% interest in 13,008 hectares (32,143 acres), including rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario, which historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production.
Appia's Management and Board have over 250 years of combined industry experience, and the Technical team is directed by James Sykes, who has had direct and indirect involvement with over 450 million lbs. U3O8 being discovered in five deposits within the Athabasca Basin.
Appia has 65.0 million common shares outstanding, 83.6 million shares fully diluted.
Cautionary Note Regarding Forward-Looking Statements: This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties, and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tom Drivas, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email) email@example.com
James Sykes, Vice-President, Exploration and Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) firstname.lastname@example.org
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) email@example.com
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|From: LoneClone||4/15/2019 11:08:49 AM|
|Bomb Watchers Twitching as Looser Rules Weighed for Uranium|
BloombergApril 15, 2019
(Bloomberg) -- Back in the 1970s and 1980s when he was keeping America’s nuclear weapons up to date, Robert Kelley didn’t pay much attention to their source of uranium.
But then he was reassigned to lead the international team that accounted for the of hundreds of tons of the heavy metal Iraq secretly extracted at a fertilizer factory to feed Saddam Hussein’s weapons program.
That discovery at the Al-Qaim phosphate plant underscored a loophole in the global policing of nuclear materials, allowing countries without much scrutiny to derive uranium from a mineral more often used as a nutrient for soil. It’s also why Kelley and his colleagues are now concerned that United Nations officials and atomic regulators are poised to loosen rules on the industry, unlocking finance to take more radioactive material out of the ground without corresponding new checks.
“Uranium extraction from phosphates flies under the radar,” said Kelley who also inspected phosphate plants in Egypt and Syria as a director with the International Atomic Energy Agency. “This isn’t a theoretical risk. It’s real.”
Diplomats at the UN and IAEA have proposed reclassifying uranium as a “critical material.” That would allow countries to tap funding from the World Bank and other development institutions to ensure supply under the guise of the UN’s sustainable development goals. While the change could potentially cut mining waste, it might also lead to a reduction of the scrutiny uneconomical projects get from nuclear inspectors.
The biggest beneficiaries to the new rules would be countries including Jordan and Saudi Arabia, which have large reserves of phosphate and growing populations that need to be fed with the crops it fertilizes. However the extraction process could weigh on the uranium market, where prices have stagnated since the last recession started in 2008.
“The main use of phosphate is in fertilizer, but it can also contain a lot of uranium,” said Harikrishnan Tulsidas, a UN official and former IAEA mining adviser who was one of the proposal’s authors. By turning uranium into a byproduct of phosphate, the nuclear industry could blunt “boom-bust” mining cycles by linking uranium supply with other industries, like agriculture, he said.
Strong links between phosphate and uranium emerged as far back as the 1950s in the U.S., according to a Stockholm International Peace Research Institute report co-authored by Vitaly Fedchenko. America’s earliest nuclear arsenal used uranium derived from a fertilizer plant in Florida. Countries from Israel, India and Pakistan have also looked to phosphate as a way around import restrictions for atomic material, according to Kelley, who called the method “a sore on the non-proliferation landscape.” His assessment of the site in Syria was triggered by concerns of John Bolton, who is now the national security adviser to U.S. President Donald Trump.
To derive uranium, phosphate rocks are ground and milled at the plants before being fed into a chemical process yielding phosphoric acid. Another stage of chemical treatments yields a black uranium concentrate that can appear in powdery or sludge-like form, according to Kelley, who now advises governments from a Swedish security institute.
Though in its elemental form uranium can’t fuel a reactor or make a bomb – it first must be enriched or turned into plutonium -- it’s the fundamental ingredient for all nuclear programs. BHP Group Ltd.’s Olympic Dam is currently the world’s biggest uranium mine. Morocco’s OCP SA sits on the largest quantity of the heavy metal, buried in the kingdom’s vast phosphate reserves.
One of the countries pursuing recovery of phosphates and uranium is Saudi Arabia. Energy Minister Khalid Al-Falih said a year ago that the kingdom possesses “significant uranium reserves” that it intends to tap, but which haven’t been accounted for by international monitors. Saudi Arabia also has plans to mine phosphates, which it estimates could be as high as 7 percent of the world’s reserves.
Saudi government officials had no comment. The state-backed producer, Saudi Arabian Mining Co., brushed aside the idea that the kingdom’s phosphate could be a major producer of uranium.
“Our phosphate has very low uranium content, so it wouldn’t be the obvious source,” Darren Davis, the chief executive officer of the company known as Maaden, said in an interview. “Whether it’s feasible or not, I think the technology as well is not well proven. There’s more work to be done on that.”
The kingdom is pursuing nuclear power but has also has warned it could seek weapons too. Saudi Arabia is unique among countries with the potential to extract uranium from phosphate: it’s flush with oil money to invest and has signaled an ambition to build a nuclear program.
The technology needs big financial backing. Commercial plants cost as much as $1.3 billion, according to Julian Hilton, who advocates for “green nuclear fuel sources” and helped draft the UN’s new guidelines.
“This is at the center of the food, energy and water triangle that’s the key to everything,” Hilton said in an interview. Phosphate extraction is a “win-win for everybody,” resulting in cleaner fertilizer, at reduced energy intensity, with uranium collected as a valuable byproduct, he said.
The risk that uranium is diverted for weapons could be reduced if countries adopted stricter international rules to safeguard uranium stockpiles. But implementing tougher rules, what the IAEA calls an additional protocol, aren’t required as a precondition to get aid in recovering uranium from phosphate, according to IAEA Director General Yukiya Amano.
That’s a concern among non-proliferation experts because of the IAEA’s checkered past with uranium. The agency helped Pakistan develop resources that likely went into that country’s weapons program. In Syria, under investigation since 2007 over clandestine nuclear work, the IAEA helped build a pilot extraction facility at a fertilizer plant in the city of Homs.
“Doing it with the IAEA and UN gives a kind of cover that allows countries to take one small step without raising suspicions,” said Scott Kemp, a physicist at the Massachusetts Institute of Technology, who advises the U.S. government on non-proliferation. “If this technology is used, it begs the question what will be done with the material?”
Based on current prices, it’s cheaper for countries that want nuclear power to buy uranium on the market than it is to invest in new exaction. Over the last decade, the market for reactor fuel has been battered by safety concerns, cheap natural gas and the shift toward decentralized electricity grids powered by renewables.
“Recovering uranium from phosphate is not economic at the moment,” said Nick Carter, a vice president at UX Consulting Co, which advises makers of nuclear fuel. Prices would have to rise three-fifths just to break even, he said.
Farm demand for uranium-free phosphate fertilizers is also slack, according to Alexis Maxwell, research director of Green Markets, a fertilizer research firm owned by Bloomberg LP. The Houston-based analyst said that adopting uranium extraction would “pose risks to fertilizer companies.”
With the UN set to issue its final uranium-resource guidelines later this year, the weapons-investigator Kelley said international monitors should pay attention to those market signals.
“Because this process isn’t economically competitive, the IAEA should be especially cautious when assisting countries to produce uranium.” Kelley said. “It means they’re acquiring uranium for other purposes than power and that should raise a flag.”
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|From: LoneClone||4/23/2019 11:46:22 AM|
|Deep Yellow (ASX:DYL) Tumas Continues Showing Strong Potential Additional Resource|
WWW: www.deepyellow.com.au Company Overview
Perth, April 23, 2019 AEST (ABN Newswire) - Deep Yellow Limited ( ASX:DYL) ( FRA:JMI) ( OTCMKTS:DYLLF) is pleased to report encouraging drilling results on EPL3497 where new continuous mineralisation has been identified in the Tumas 1 East palaeochannel area along Tributary 5. Drilling also delineated continuous uranium mineralisation on EPL3496 in the Tumas Central area to the west of Tumas 3. This EPLs are held by Reptile Uranium Namibia (Pty) Ltd (RUN), part of the group of companies wholly owned by Deep Yellow.
(All tables and figures can be viewed in the link below)
As previously announced, the last phase of drilling for the 2018/19 program commenced in February with semi-regional exploration drilling in the Tumas Central area where 47 RC holes were drilled for 1,313m. A combination of exploration and resource drilling followed in the Tumas 1 East area with 211 RC holes for 1,951m completed by 15 April 2019. At Tumas 1 East all tributaries, with the exception of Tributary 8, have had some exploration drilling carried out with resources established in Tributaries 1, 2 and 4. The current program identified continuous uranium mineralisation in Tributary 5 which is now closed off. Figures 1 and 2 show the prospective paleochannel system outline and prospect locations.
Tumas East Drilling
Exploration and resource drilling started 4 March 2019 at Tributary 4, 5 and 6 north of the newly defined Inferred Resource at Tumas 1 East as announced 27 March 2019. This completed the drilling planned for the 2018/19 program and in this final phase a total of 211 RC drill holes for 1,951m was completed. Drill spacings varied from 50m to 100m along lines 200m to 800m apart. 76 of these holes returned positive results of greater than 100ppm eU3O8 over 1m. The average thickness of the mineralisation is close to 5m. The average grade of all the 1m intersections >100ppm eU3O8 ppm was 228ppm and >200ppm eU3O8 was 356ppm U3O8.
The drilling at the Tributary 5 north of Tumas 1 has outlined a uraniferous channel 3km in strike length showing continuous calcrete uranium mineralisation. The mineralised channel ranges from 100m to 600m in width. The mineralisation is located at shallow depth between 2m to 15m below surface. In the Tributary 5 resource drilling area uranium mineralisation >100ppm eU3O8 was identified in 56 (48%) of the 119 holes drilled in this zone with an average grade of 232ppm eU3O8. At >200ppm/m cut-off the average grade is 361ppm eU3O8. The mineralisation does not show any surface radiometric expression.
The Tributary 5 mineralisation thins out towards the west, is closed off to the east but the southern edge of the channel needs further infill drilling before an inferred resource estimate can be undertaken.
Drill hole locations from this program are shown in Figure 2. Figures 3 and 4 show a drill cross-section and long-section respectively highlighting the continuity and thickness of the mineralisation in Tributary 5.
Exploration drilling along Tributaries 4 and 6 encountered thin and low-grade mineralisation.
Tributary 8 which is 7km long remains to be explored.
Equivalent uranium oxide (eU3O8) values as reported here have been determined by Deep Yellow personnel and these will be validated by a competent geophysicist for resource estimation purposes. The equivalent uranium values are based on down-hole radiometric gamma logging carried out by a fully calibrated Aus-Log gamma logging system.
Mineralised intersections that are above the 100ppm eU3O8 over 1m cut-off are tabulated in Table 1, Appendix 1. All drill hole locations are listed in Table 3, Appendix 1.
Semi-Regional Exploration Drilling - Tumas Central Area
Semi-regional exploration drilling at Tumas Central was completed in February 2019. As announced on 20 December drilling started here late in 2018 but work had to be suspended due to the Christmas break. On resumption a further 47 holes for 1,313m were completed in this area in 2019. Drill hole spacing was variable ranging from 100m to 200m spaced holes along profiles 200m to 800m apart. The area is one of the seven semi-regional exploration targets which were identified early in 2018 but this priority zone could not be tested previously due to access problems which are now resolved. Targets in the area included testing the confluence of two channels and some surface radiometric anomalism over the main palaeochannel.
The drilling identified 1.6km of continuous uranium mineralisation along the southern edge of the main Tumas palaeochannel. The mineralisation is 200m to 400m wide and up to 11m thick. 21 of 47 holes (45%) show mineralisation of greater than 100ppm eU3O8 over 1m. At a 100ppm cut-off the average grade is 282ppm and average thickness is close to 4m. The average grade at a 200ppm cut-off is 407ppm. The mineralisation is open to the east where it could connect to the Tumas 3 West mineralisation (which is 5km away) and to the west where it could connect to the Tubas Red Sand calcrete deposit (which is 3km from the Tumas Central area).
Figure 5 shows the exploration drill hole locations in relation to the historic drilling at Tumas 3 West and Tubas Red Sand areas. Figure 6 shows a north-south cross-section through the area highlighting the location of the mineralisation at the southern edge of the large Tumas Channel.
Mineralised intersections from the Tumas Central drilling above >100ppm eU3O8 over 1m cut-off are tabulated in Table 2, Appendix 1. All drill hole locations are listed in Table 3, Appendix 1.
The results of the ongoing exploration continue defining additional uranium mineralisation, much of it continuous, maintaining the highly encouraging prospectivity of these palaeochannels associated with the eastern extension of Tumas 1 and promising uranium mineralisation in Tumas Central.
The 2018/19 drill program is now completed and it succeeded in substantially extending the previous limits of mineralisation at Tumas 1. Drilling is demonstrating the potential to further extend the mineralisation in this zone and along other parts of the channel system. Testing for mineralisation in tributary channels, which historically were neglected, has shown to be just as important as drilling the main channel targets for upgrade of the overall resource base associated with these highly fertile palaeochannels. The uranium mineralisation is not confined to one simple, single channel but rather is associated with a complex palaeodrainage system containing several channels and tributaries.
Appendix 1, Tables 1 and 2 list the 76 exploration drill holes at Tumas 1 East and 21 semi-regional exploration drill holes from the Tumas Central area respectively returning uranium intersections above cut-off and showing equivalent uranium values in ppm and thickness with hole depth and coordinates provided. Table 3 in Appendix 1 lists all 258 drill holes completed from December 2018 to April 2019 from the current drilling program which are the subject of this release.
This fourth, now completed, drilling campaign has again produced successful results. It has confirmed that the previously discovered deposits can be expanded. This has not only added to the current uranium resource base of this project but, just as significantly, continues to emphasise the strong exploration potential of the extensive, uranium-fertile palaeochannel system within which the new Tumas palaeochannel discoveries occur.
There are now 5 distinct mineralised zones (Tumas 1 & 2, Tumas 3, Tubas Sand/calcrete deposits and Tumas 1 East) identified within the 125km of palaeochannels that occur within the Reptile Project tenements (see Figure1). Approximately 50% of these have now sufficiently been explored over the past 2 years and the resource base in the Tumas channel system has been increased by 160%. Some 50%, or approximately 60km, of this palaeochannel system which deepens to the west remains to be properly tested.
These positive results, both from the current 2018/19 and 2017 drilling and re-interpretation of historic exploration data which outlined the regional palaeochannel target, confirm management's confidence that the existing uranium resource base for Langer Heinrich style deposit/s within the Reptile Project area can be further increased.
It is planned that drilling will start again in the second half of 2019 with the drilling program including infill resource drilling required for resource estimations at Tumas 1 East, Tumas Central and Tubas Red Sand/calcrete areas.
John Borshoff commented: "This latest drilling which marks the end of the 2018/19 drilling season has finished on yet another positive note delineating a cumulative 4.5km of continuous uranium mineralisation. Drilling of Tributary 5 and Tumas Central has again demonstrated the high-quality nature of the exploration target the Company has uncovered. The Tumas palaeochannel is proving remarkably fertile showing all the hallmarks that enhancement of the Deep Yellow uranium resource will continue to occur."
To view tables and figures, please visit:
About Deep Yellow Limited
Deep Yellow Limited ( ASX:DYL) ( OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a specialist differentiated uranium company implementing a new contrarian strategy to grow shareholder wealth. This strategy is founded upon growing the existing uranium resources across the Company's uranium projects in Namibia and the pursuit of accretive, counter-cyclical acquisitions to build a global, geographically diverse asset portfolio. The Company's cornerstone suite of projects in Namibia is situated within a top-ranked African mining destination in a jurisdiction that has a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.
|John Borshoff |
Link: Tumas Continues Showing Strong Potential Additional Resource
Deep Yellow Limited
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|To: LoneClone who wrote (18162)||4/23/2019 11:48:42 AM|
|Anfield Energy Acquires Upper Maybelle River Project From Radio Fuels|
GlobeNewswire•April 22, 2019
VANCOUVER, British Columbia, April 22, 2019 (GLOBE NEWSWIRE) -- Anfield Energy Inc. (TSX.V: AEC; OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield” or “the Company”) is pleased to announce that it has acquired 100% interest in the Upper Maybelle River Uranium Project (“Upper Maybelle”) from Radio Fuels, a private company. The property consists of six mineral claims totalling 12,851 hectares and is located in the Athabasca Basin; it also shares eastern property borders with projects held by both Nexgen Energy Ltd. and Areva. In exchange for the property, Radio fuels will receive 3,800,000 shares of Anfield.
Corey Dias, Anfield CEO, stated, “Although our primary focus is on our US assets, especially given the upcoming decision to be made regarding the 232 recommendation, the opportunity to acquire a property in the Athabasca Basin in close proximity to both Nexgen and Areva proved irresistible”.
About Upper Maybelle
The Upper Maybelle Project was acquired by Radio Fuels in 2017 and consists of 12,851 hectares on the western border of Saskatchewan. Neighbouring properties are held by Areva S.A. and Nexgen Energy Ltd.
Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly-traded corporation listed on the TSX-Venture Exchange (AEC-V), the OTCQB Marketplace (ANLDF) and the Frankfurt Stock Exchange (0AD). Anfield is focused on two asset centres, as summarized below:
Wyoming – Irigaray ISR Processing Plant (Resin Processing Agreement)
Anfield has signed a Resin Processing Agreement with Uranium One whereby Anfield would process up to 500,000 pounds per annum of its mined material at Uranium One’s Irigaray processing plant in Wyoming. In addition, the Company can both buy and borrow uranium from Uranium One in order to fulfill some or all of its sales contracts.
Anfield’s 24 ISR mining projects are located in the Black Hills, Powder River Basin, Great Divide Basin, Laramie Basin, Shirley Basin and Wind River Basin areas in Wyoming. Anfield’s two projects in Wyoming for which NI 43-101 resource reports have been completed are Red Rim and Clarkson Hill.
The Charlie Project, the asset which was the core component of a recently-announced transaction between Anfield and Cotter Corporation, is located in the Pumpkin Buttes Uranium District in Johnson County, Wyoming. The Charlie Project consists of a 720-acre Wyoming State uranium lease which has been in development since 1969. An NI 43-101 resource report has been completed for the Charlie Project.
Arizona/Utah/Colorado – Shootaring Canyon Mill
A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.
Anfield’s conventional uranium assets consist of mining claims and state leases in southeastern Utah, Colorado and Arizona, targeting areas where past uranium mining or prospecting occurred. Anfield’s conventional uranium assets include the Velvet-Wood Project, the Frank M Uranium Project, the West Slope Project as well as the Findlay Tank breccia pipe. An NI 43-101 Preliminary Economic Assessment has been completed for the Velvet-Wood Project. The PEA is preliminary in nature, and includes inferred mineral resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment would be realized. All conventional uranium assets are situated within a 200-mile radius of the Shootaring Mill.
On behalf of the Board of Directors
ANFIELD ENERGY INC.
Corey Dias, Chief Executive Officer
Neither 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.
Anfield Energy, Inc.
Safe Harbor Statement
THIS NEWS RELEASE CONTAINS “FORWARD-LOOKING STATEMENTS”. STATEMENTS IN THIS NEWS RELEASE THAT ARE NOT PURELY HISTORICAL ARE FORWARD-LOOKING STATEMENTS AND INCLUDE ANY STATEMENTS REGARDING BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE.
EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS “ESTIMATE,” “ANTICIPATE,” “BELIEVE,” “PLAN” OR “EXPECT” OR SIMILAR STATEMENTS ARE FORWARD-LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH MINERAL EXPLORATION AND FUNDING AS WELL AS THE RISKS SHOWN IN THE COMPANY’S MOST RECENT ANNUAL AND QUARTERLY REPORTS AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH SEEKING THE CAPITAL NECESSARY TO COMPLETE THE PROPOSED TRANSACTION, THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY’S ABILITY AND LEVEL OF SUPPORT FOR ITS EXPLORATION AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY WILL BE ABLE TO COMPLETE THE PROPOSED TRANSACTION, THAT THE COMPANY’S EXPLORATION EFFORTS WILL SUCCEED OR THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY’S PERIODIC REPORTS FILED FROM TIME-TO-TIME.
THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.
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|To: LoneClone who wrote (18163)||4/23/2019 11:50:30 AM|
|ALX Uranium Signs Close Lake Option Agreement with Orano Canada|
Vancouver, British Columbia--(Newsfile Corp. - April 23, 2019) - ALX Uranium Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that ALX has signed a binding option agreement (the "Agreement") with Orano Canada Inc. ("Orano") a subsidiary of Orano Group, France, a world leader in the nuclear marketplace, whereby ALX can earn up to a 51% participating interest in the Close Lake Uranium Project ("Close Lake", or the "Project") located in the eastern Athabasca Basin area of northern Saskatchewan, Canada. The execution of the Agreement follows the non-binding Letter of Intent signed in February 2019 with Orano (see ALX news release dated February 28, 2019) and confirms a five (5) year deal with ALX funding exploration expenditures for a total amount of $12.0 million and issuing 10,000,000 common shares of ALX to Orano.
"Close Lake is an outstanding uranium exploration project in the world's richest uranium district, which until recently, was relatively unknown to the public," said Warren Stanyer, CEO and Chairman of the Company. "ALX and Orano are on the verge of initiating a multi-year exploration program with the goal of locating a new, high-grade uranium deposit in the Athabasca Basin."
Close Lake consists of 21 mineral claims totaling 38,679 hectares (95,576 acres). Numerous uranium and base metals showings have been discovered from historical drilling at the Project by a joint venture first established in 1978. The eastern boundary of the Project adjoins the Cigar Lake uranium mine property ("Cigar Lake") and its southern boundary adjoins the McArthur River uranium mine property. Two licensed uranium mills are located in the eastern Athabasca Basin area. Close Lake is accessible by winter trail from Cigar Lake and Points North Landing, each of which has all-weather road access and nearby infrastructure, including airports. Click here to view a map of the Project.
About Close Lake
Close Lake is the subject of a joint venture in which Orano, as operator, holds a 74.4004% interest, with Cameco Corporation ("Cameco") (TSX: CCO) holding a 14.9849% interest, and JCU (Canada) Company Ltd. ("JCU") holding the remaining 10.6147% interest. ALX can earn up to a 51% interest from Orano, subject to a back-in right to be retained by Orano.
Historical drilling at Close Lake totals approximately 110,049 metres in 170 drill holes. Uranium mineralization has been intersected at or near the unconformity between the Athabasca sandstone and basement rock units, often graphitic, with associated base metals values and rare gold occurrences at downhole depths ranging between 463 metres and 682 metres.
In 1985, a predecessor company of Orano encountered a significant intersection of uranium mineralization in drill hole CL-11 (1.52% U3O8 over 23.0 metres including 11.46% U3O8 over 2.5 metres) on the Tucker Lake C-5 Trend in the northeastern portion of the Project. Follow-up drilling that year on section with CL-11 intersected 0.06% U3O8 over 1.5 metres in hole CL-12 and 1.21% U3O8 over 2.0 metres in hole CL-13.
Drilling by the joint venture in 1997 on the C-1 East Trend in the southern portion of the Project intersected a wide interval of uranium mineralization in drill hole CL-90 (0.34% U3O8 over 107.3 metres including 2.86% U3O8 over 8.5 metres and 2.00% U3O8 over 1.5 metres). Subsequent follow-up drilling in 1998 along strike of drill hole CL-90 encountered 0.28% U3O8 over 0.5 metres in hole CL-106 and 0.06% U3O8 over 3.5 metres in hole CL-109.
The grades, widths and lithologies encountered in the drilling to date provide compelling evidence that Close Lake could host a mineralizing system similar to those previously found within the Wollaston Belt, which has produced over 900 million pounds of U3O8 during the past four decades.
2019 Exploration Plan
Orano as operator of Close Lake will work co-operatively with the Project joint venture partners and ALX to design an effective program to facilitate ALX's involvement in the Project.
In its evaluation of the Project, ALX determined that certain target areas at Close Lake that have only been explored with widely-spaced drill holes still exhibit high potential to host significant high-grade uranium deposits.
Terms of the Option Agreement
In order for ALX to earn an option to acquire a 51% interest in the Project, ALX is required to issue to Orano a total of 10,000,000 common shares of ALX and fund a total of $12.0 million towards exploration expenditures for the Project for a period of five (5) years. Subject to prior written approval by Orano, ALX is able to accelerate any of the expenditure payments. Any common shares that ALX issues to Orano in connection with the Agreement would be subject to a 4-month and a day statutory hold period.
The purchase terms of the Agreement are subject to acceptance of the TSX Venture Exchange.
Joint Venture Participation
Upon having exercised any portion of its options, ALX will be required to become a party to the joint venture agreement between Orano, Cameco, and JCU. Orano will remain operator of the Project during ALX's option period.
Orano's Back-in Rights
Orano would have two options (the "Back-in Options") to re-acquire a 51% interest in the Project from ALX (the "Back-in Interest") following its exercise of the Back-in Options by giving written notices to ALX (the "Back-in Notices"). In the case of its exercise of the first Back-In Option, Orano would be required to pay ALX approximately $2.3 million based on ALX earning 35%. In the case of the second Back-In Option Orano would be required to pay ALX $24.0 million, based on ALX earning 51%, through a combination of cash payments and carried expenditures needed to maintain ALX's future exploration obligations at the Project. If either of the Back-in Options are exercised, ALX is expected to retain an estimated 23.4% interest in the project.
The Back-in Options are exercisable for a period of up to three (3) years from the date of ALX earning either a 35% or a 51% participating interest, at Orano's discretion.
Reimbursement of Orano's Exploration Expenses
If ALX obtains a 51% interest in the Project and (i) Orano does not exercise the Back-in Options; and (ii) ALX, or a successor company, produces at least 1,000,000 pounds of uranium from the Project Assets ("Initial Production") ALX would notify Orano of the date that ALX or a successor company achieved Initial Production (the "Initial Production Date") and pay Orano $25 million over a 5-year period. Orano will receive a 2.0% net smelter return production royalty on any uranium produced from the Project, and any other milled mineral and/or product, except from Project claims subject to previously established net profit royalties.
NI 43-101 Disclosure
The technical information in this news release was reviewed and approved by Sierd Eriks, P. Geo., President and Chief Geologist of the Company, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Readers are cautioned that some of the technical information described in this news release is historical in nature; however, the information is deemed credible and was produced by professional geologists of the eras discussed. ALX further cautions investors it has reviewed but has not verified the Close Lake exploration data, and that mineralization located on adjacent properties by historical exploration may not be present at Close Lake.
ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties in northern Saskatchewan, Canada. The Company executes well-designed exploration programs using the latest technologies and has interests in over 200,000 hectares in Saskatchewan, a Province which hosts the richest uranium deposits in the world, a producing gold mine, and demonstrates potential for economic base metals deposits. ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF". Technical reports are available on SEDAR at www.sedar.com for several of the Company's active properties.
For more information about the Company, please visit the ALX corporate website at www.alxuranium.com or contact Roger Leschuk, Manager, Corporate Communications at PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: firstname.lastname@example.org
On Behalf of the Board of Directors of ALX Uranium Corp.
Warren Stanyer, CEO and Chairman
FORWARD LOOKING STATEMENTS
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include the Company's plans to undertake exploration activities at the Close Lake Project ("Close Lake"), and expend funds on Close Lake. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not get regulatory approval to complete an agreement on Close Lake; we may not be able to finance our intended participation at Close Lake; our other mineral exploration projects in the Athabasca Basin may prove to be unworthy of further expenditure; and economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Year Ended December 31, 2018, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward looking statement risk factors.
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.
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