#Canada #Vancouver #Urano Energy #Uranium Mining #Colorado properties

Urano Energy Expands Portfolio in Utah and Colorado

Urano Energy Corp (CSE: UE, OTCQB: UECXF) has bolstered its portfolio by acquiring fifteen uranium properties located in Utah and Colorado, as announced on December 5, 2024. This strategic move significantly enhances the company’s uranium resource base amidst a backdrop of increasing global demand for clean energy solutions.

Overview of the Acquisition

The newly acquired properties encompass a total of 345 claims, covering an extensive area of 8,200 acres (over 33 square kilometers), and are situated within the Colorado Plateau geological region. Notably, fourteen of these properties have a rich history of production, highlighting the potential for Urano Energy to capitalize on established mining districts, including the Uravan Mineral Belt, La Sal, and Lisbon Valley Districts.

Prior to this acquisition, Urano Energy already held three properties in Utah and five in Colorado. The integration of the newly acquired properties escalates the company’s total holdings to 21,840 acres (approximately 88 square kilometers) in one of the most well-known uranium mining regions in the United States.

Jason Bagg, Urano Energy’s CEO, emphasized the significance of this acquisition in a statement, asserting that these projects not only provide historical production avenues but also feature accessible, shallow deposits that open up various strategic opportunities for development.

Property Highlights

Each of the fifteen properties boasts sandstone-hosted uranium mineralization, contributing to Urano's robust mining operation. A few noteworthy highlights include:

• - Green River Property: Located near Green River, Utah, this property stands out with an existing underground mining permit and surface use permit, facilitating operational efficiency.
• - Historical Operations: Most project sites are home to previous underground uranium workings, indicating ample exploration potential.
• - Year-round Accessibility: All properties can be accessed via roads, ensuring logistical convenience in collaboration with local communities and services.
• - Upcoming Exploration: Urano plans to initiate confirmatory drilling and digitization of geological data, past production records, and mine plans to streamline future operations.

The Historical Context of Uranium Mining in Utah and Colorado

The Uravan Mining District, spanning parts of Utah and Colorado, has been a critical player in uranium mining, particularly due to the discovery of rich mineral deposits in the southwestern region of these states. The Uravan Mineral Belt, extending 70 miles (approximately 110 km), has produced 80 million pounds of uranium and over 400 million pounds of vanadium since 1945, making it a historical site for mineral extraction. The region's unique geological makeup, characterized by Colorado Plateau type uranium deposits found in sandstone formations, has allowed for efficient extraction methods.

The ongoing demand for uranium as a clean energy source highlights the relevance of this region today. Urano Energy's recent acquisitions place it at the forefront of modern uranium exploration aimed at harnessing the extensive historical deposits while utilizing updated mining techniques.

A Closer Look at the Properties

Each property is recognized for its potential in uranium mining:
1. Vanadium Queen/UH3/Blue Cap/Black Hat in Utah - Past producer with known deposits.
2. Hop Creek (Utah) - Under exploration, known deposits.
3. North Lisbon Valley - Acknowledged for its historical production.
4. The Green River Property stands out due to its permits and past production, aligning perfectly with Urano's strategic growth objectives.

Future Plans and Transactions

Urano Energy embarked on the acquisition via agreements with two Utah-based private companies, with a transaction value totaling $5,825,000 in cash and $4,800,000 in shares. The payment is structured to span over five years, ensuring a manageable financial approach.

The company now aims to conduct extensive exploration and development efforts over its new acquisitions, adhering to rigorous standards such as those outlined by the National Instrument 43-101, which governs mineral project disclosures in Canada.

Conclusion

As Urano Energy moves forward with these acquisitions, the company is well-positioned to expand its operational footprint in a historically rich uranium-mining area. With the world shifting toward cleaner energy solutions, Urano Energy is poised to benefit from the growing market for uranium, backed by its extensive property portfolio and commitment to sustainable resource development.