- Stallion Gold Corp. (STUD) has signed a share purchase agreement to acquire Athabasca Basin properties
- Stallion signed the share purchase agreement with U92 Exploration Limited and the shareholders of U92 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
- Also, the company plans to change its name to Stallion Discoveries Corp
- Stallion Gold is a mineral exploration company focused on the exploration of precious metals and critical minerals
- Stallion Gold Corp. was up 17.143 per cent, trading at $0.205 at 11:00 AM ET
Stallion Gold Corp. (STUD) has signed a share purchase agreement to acquire Athabasca Basin properties.
The company signed the share purchase agreement with U92 Exploration Limited and the shareholders of U92 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 project 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,” noted Drew Zimmerman, CEO of Stallion.
“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 utilized to the area,” he added.
The company will start a work program on the claims in Q1 of 2023 and will provide additional updates in the coming weeks.
Furthermore, the company plans to 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.
To acquire U92, Stallion will pay the shareholders of U92 the sum of $300,000 and issue a total of 3,000,000 common shares at a deemed price of $0.10 per share pro rata to the holders of the U92 common shares.
Stallion Gold is a mineral exploration company focused on the exploration of precious metals and critical minerals.
Stallion Gold Corp. was up 17.143 per cent, trading at $0.205 at 11:00 AM ET.