Stallion Gold Corp. (TSXV: STUD) has signed a share purchase agreement with U92 Exploration Limited and its shareholders to acquire all of the issued and outstanding securities of U92.
U92 is a privately held Uranium company with strategic claims in the Western Athabasca Basin, home to some of the world’s largest high grade uranium discoveries. The claim package’s southern boundary is above Fission 3.0’s PLN Project containing the recent discovery of ultra-high grade U3O8, while the northern end of the project is just east of the Shea Creek deposit held by the partnership of UEX and Orano. The U92 Saskatchewan projects includes 6 mineral claims totalling 29,273 hectares.
“We are excited to be acquiring projects in this region of the Athabasca Basin, which is poised to become the next major area for new uranium operations in Northern Saskatchewan,” said CEO, Drew Zimmerman.
“Given the extreme proximity of these claims to recent high-grade discoveries we see tremendous potential in creating value for all stakeholders by deploying the exploration techniques being utilised to the area.
“Our leadership and advisory team is comprised of leading Uranium exploration experts including some of the most prolific Athabasca Basin stakeholders and we will leverage this expertise in our work programs and in evaluating other opportunities in the Basin.”
The company will be commencing a work programme on the claims during Q1-23 and will provide additional updates in the coming weeks.
Additionally, the company will change its name to Stallion Discoveries Corp., pending TSX Venture Exchange approval. The new name has been chosen to better reflect the company’s strategic focus as a large-scale, multi-resource project explorer.
Share Purchase Agreement Terms
In consideration for the Transaction and pursuant to the terms of the Definitive Agreement, and on closing thereof, the company will pay the shareholders of U92 the sum of $300,000 and the company will issue an aggregate of 3,000,000 common shares in the capital of the company at a deemed price of $0.10 per share.
For further information please visit: https://stalliongold.com/
