VANCOUVER, British Columbia, Sept. 26, 2024 (GLOBE NEWSWIRE) — Global Uranium Corp. (CSE: GURN) (OTC: GURFF) (FRA: Q3J) (the “Company”) is pleased to provide an update on recent activities at the NWA Project, under option with Forum Energy Metals Corp. (“Forum”), located on the northwest side of the Athabasca Basin, Saskatchewan, as well as an outlook on exploration plans for the next six months.
Recent Project Work
We are pleased to announce that planning is underway by Forum’s team for the logistics of conducting a drill program in 2025. Further, Forum has successfully completed remediation efforts at the NWA Project site, including the removal of old exploration equipment and localized soil testing by Geosyntec Consultants Inc. in accordance with Saskatchewan Environment’s recommendations. The NWA Project is now poised for the next phase of exploration.
Exploration Permit and Duty to Consult
The NWA Project’s exploration permit has entered the Duty to Consult phase as of September 16th, 2024. This consultation period, expected to last two to three months, will involve engagement with local communities and stakeholders to ensure that exploration activities are conducted with community support and in an environmentally responsible manner.
Upcoming Exploration Activities
During the Duty to Consult period, Forum, as the operator of the NWA joint venture, will be advancing exploration plans. The exploration team is currently evaluating a range of geophysical methods, including ground resistivity and some infill gravity. These geophysical methods can image areas of strong clay alteration in the subsurface and increased clay is always associated with unconformity-type uranium mineralization. These surveys are expected to commence in early 2025, pending favorable conditions. In addition, Forum is planning a 4,000 m drill program, which could begin as early as winter 2025 or be deferred to summer 2025, based on logistical constraints and permitting timelines. The drilling will focus on high-priority targets identified from both historical data and upcoming geophysical surveys.
Jared Suchan, PH.D., P.Geo VP of Exploration for the Company, and a Qualified Person (as such term is defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects), has reviewed and approved the scientific and technical disclosure contained in this news release.
About Global Uranium Corp.
Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds seven key uranium projects: the Wing Lake Property in the Mudjatik Domain of Northern Saskatchewan, Canada; the Northwest Athabasca Joint Venture with Forum Energy Metals Corp. and NexGen Energy Ltd. in the Northwest Athabasca region of Saskatchewan, Canada; and the Great Divide Basin District Projects, the Gas Hills District Projects, and the Copper Mountain District Projects in Wyoming, USA.
On Behalf of the Board of Directors
Ungad Chadda
CEO
604-359-1248
[email protected]
Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events.
In particular, this press release contains forward-looking information relating to, among other things, future exploration plans and activities. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company’s management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include: the risk that the Company is unable to carry out its exploration plans and activities as currently contemplated, or at all; risks inherent in the exploration and development of mineral deposits, including risks relating to receiving requisite permits and approvals, changes in project parameters or delays as plans continue to be redefined, that mineral exploration is inherently uncertain and that the results of mineral exploration may not be indicative of the actual geology or mineralization of a project; that mineral exploration may be unsuccessful or fail to achieve the results anticipated by the Company; operational risks; regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; financing, capitalization and liquidity risks; title and environmental risks; and risks relating to the failure to receive all requisite regulatory approvals. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
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