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NEW YORK, Aug. 3, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the July Green Energy & Precious Metals lnvestor Conference are now available for on-demand viewing.

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The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks.

Participating Companies:

Presentation

Ticker(s)

Byron King, Editor, "Whiskey & Gunpowder", Agora Financial-St. Paul Research
"The Revenge of High School Chemistry"

Raymond M. McCormick, Managing Director, Energy & Natural Resources, Capstone Partners

"An Investment Banker's Perspective of the Uranium Industry"

Appia Energy Corp.

(OTCQB: APAAF | CSE: API)

Thor Mining PLC

(OTCQB: THORF | ASX: THR | AIM: THR)

Renforth Resources Inc.

(OTCQB: RFHRF | CSE: RFR)

Ion Energy Ltd.

(OTCQB: IONGF | TSX-V: ION)

Baselode Energy Corp.

(OTCQB: BSENF | TSX-V: FIND)

Blue Sky Uranium Corp.

(OTCQB: BKUCF | TSX: BSK)

Energy Fuels Inc.

(NYSE American: UUUU | TSX: EFR)

Euro Manganese Inc.

(OTCQX: EUMNF | TSX-V: EMN)

Silver Elephant Mining Corp

(OTCQX: SILEF | TSX-V: ELEF)

Commerce Resources Corp.

(OTCQX: CMRZF | TSX-V: CCE)

First Cobalt Corp.

(OTCQX: FTSSF | TSX-V: FCC)

Nouveau Monde Graphite Inc.

(NYSE: NMG | TSX-V: NOU)

Giga Metals Corp.

(OTCQB: HNCKF | TSX-V: GIGA)

Nova Royalty Corp.

(OTCQB: NOVRF | TSX-V: NOVR)

Lion One Metals Ltd.

(OTCQX: LOMLF | TSX-V: LIO)

Starcore International Mines Ltd.

(OTCQB: SHVLF | TSX: SAM)

Golden Valley Mines and Royalties Ltd.

(OTCQX: GLVMF | TSX-V: GZZ)

Arizona Metals Corp.

(OTCQX: AZMCF | TSX-V: AMC)

Barksdale Resources Corp.

(OTCQX: BRKCF | TSX-V: BRO)

Ridgeline Minerals Corp.

(OTCQX: RDGMF | TSX-V: RDG)

Liberty Gold Corp.

(OTCQX: LGDTF | TSX: LGD)

Outback Goldfields Corp.

(OTCQB: OZBKF | CSE: OZ)

Karora Resources Inc.

(OTCQX: KRRGF | TSX: KRR)

Empress Royalty Corp.

(OTCQB: EMPYF | TSX-V: EMPR)

Bunker Hill Mining Corp.

(OTCQB: BHLL | TSX-V: BNKR)

Vior Inc.

(TSX-V: VIO)

Kodiak Copper Corp.

(OTCQB: KDKCF | TSX-V: KDK)

Heliostar Metals Ltd.

(OTCQX: HSTXF | TSX-V: HSTR)

Honey Badger Silver Inc.

(Pink: HBEIF| TSX-V: TUF)

Tinka Resources Ltd.

(OTCQB: TKRFF | TSX-V: TK)

Salazar Resources Ltd.

(OTCQX: SRLZF | TSX-V: SRL)

Stratabound Minerals Corp.

(OTCQB: SBMIF | TSX-V: SB)

KORE Mining Ltd.

(OTCQX: KOREF | TSX-V: KORE)

Fabled Silver Gold Corp.

(OTCQB: FBSGF | TSX-V: FCO)

Element 29 Resources Inc.

(OTCQB: EMTRF| TSX-V: ECU)

Canada Nickel Company Inc.

(OTCQB: CNIKF | TSX-V: CNC)

Aztec Minerals Corp.

(OTCQB: AZZTF | TSX-V: AZT)

Granite Creek Copper Ltd.

(OTCQB: GCXXF | TSX-V: GCX)

Group Ten Metals Inc.

(OTCQB: PGEZF | TSX- V: PGE)

Metallic Minerals Ltd.

(OTCQB: MMNGF | TSX-V: MMG)

Imperial Mining Group Ltd.

(OTCQB: IMPNF | TSX-V: IPG)

Defiance Silver Corp.

(OTCQX: DNCVF | TSX-V: DEF)

Orezone Gold Corp.

(OTCQX: ORZCF | TSX-V: ORE)

GoldSpot Discoveries Corp.

(OTCQX: SPOFF | TSX-V: SPOT)

To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

SOURCE VirtualInvestorConferences.com

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View original content: http://www.newswire.ca/en/releases/archive/August2021/03/c1698.html

TORONTO, Aug. 3, 2021 /PRNewswire/ – Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce the completion of its acquisition of 50% ownership of JCU (Canada) Exploration Company, Limited ("JCU"), from UEX Corporation ("UEX"), for cash consideration of $20.5 million. Denison's acquisition of a 50% interest in JCU occurred immediately following UEX's acquisition of all the outstanding shares of JCU from Overseas Uranium Resources Development Co., Ltd. ("OURD") for cash consideration of $41 million. View PDF version

David Cates, President and CEO of Denison, commented, "Denison is pleased to have acquired a 50% interest in JCU – which holds a unique and valuable portfolio of strategic Canadian uranium interests, including a 10% interest in Denison's flagship Wheeler River project. We believe there is considerable value in JCU's portfolio of assets and that this transaction is highly accretive for Denison shareholders.

In addition to consolidating an effective 95% interest in Wheeler River, this acquisition expands Denison's leading Athabasca Basin development portfolio to include additional important Canadian uranium development projects such as Millennium and Kiggavik."

JCU's Project Portfolio

JCU holds a portfolio of twelve uranium project joint venture interests in Canada, including a 10% interest in Denison's 90% owned Wheeler River project, a 30.099% interest in the Millennium project (Cameco Corporation 69.901%), a 33.8123% interest in the Kiggavik project (Orano Canada Inc. 66.1877%), and a 34.4508% interest in the Christie Lake project (UEX 65.5492%).

Term Loan to UEX

Pursuant to Denison's agreement with UEX (see press release dated June 15, 2021), Denison provided UEX with an interest-free 90-day term loan of $40.95 million (the "Term Loan") to facilitate UEX's purchase of JCU from OURD. On the transfer of 50% of the shares in JCU from UEX to Denison, $20.5 million of the amount drawn under the Term Loan was deemed repaid by UEX. Accordingly, UEX has currently drawn $20.45 million under the Term Loan, which is due to Denison by November 1, 2021.

UEX may extend the Term Loan maturity by an additional 90 days (to January 30, 2022), in which case interest will be charged at a rate of 4% from the date of the initial advance under the Term Loan (August 3, 2021) until maturity. All of the shares of JCU owned by UEX will be held by Denison as security against the Term Loan pursuant to a pledge agreement until the Term Loan is repaid in full. The Term Loan is subject to certain customary terms and conditions and contains standard events of default that protect Denison.

Further details of the terms of the transaction are described in Denison's June 15, 2021 press release and under Denison's profile at www.sedar.com and www.sec.gov/edgar.

About Denison

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. The Company has an effective 95% interest in its flagship Wheeler River Uranium Project, which is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region of northern Saskatchewan. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake joint venture ("MLJV"), which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake property. Each of Midwest Main, Midwest A, THT and Huskie are located within 20 kilometres of the McClean Lake mill.

Through its 50% ownership of JCU (Canada) Exploration Company, Limited ("JCU"), Denison also holds interests in various uranium project joint ventures in Canada, including the Millennium project (JCU 30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%).

Denison is also engaged in mine decommissioning and environmental services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides post-closure mine care and maintenance services to a variety of industry and government clients.

Follow Denison on Twitter @DenisonMinesCo

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this news release contains forward-looking information pertaining to the following: the terms of the Term Loan, including the conditions and other rights and obligations of the parties; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. Denison believes that the expectations reflected in this forward-looking information are reasonable and no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in the Annual Information Form dated March 26, 2021 under the heading "Risk Factors". These factors are not, and should not be construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

CisionCision
Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/denison-acquires-50-of-jcu-canada-exploration-company-limited-and-increases-effective-interest-in-wheeler-river-to-95-301347352.html

SOURCE Denison Mines Corp.

LITTLETON, CO / ACCESSWIRE / August 3, 2021 /Ur-Energy Inc. (NYSE American:URG)(TSX:URE) (the "Company" or "Ur-Energy") has filed the Company's Form 10-Q for the quarter ended June 30, 2021, with the U.S. Securities and Exchange Commission at www.sec.gov/edgar.shtml and with Canadian securities authorities at www.sedar.com.

Ur-Energy Chairman and CEO, Jeff Klenda said, "We are pleased to announce our results from the first half of 2021. We ended the period with more than $20 million in cash and 285,000 pounds U.S. produced U3O8 in inventory at the conversion facility. We continued to advance regulatory approvals at both our Lost Creek Property and Shirley Basin Project. Having received all remaining major approvals for Shirley Basin during Q2, our second uranium project in Wyoming now stands construction ready. The approvals also mean that we have effectively doubled the Company's licensed and permitted production capacity.

"As we recognize the eighth anniversary of operations at Lost Creek, we are encouraged by positive catalysts and increased investor interest in the uranium market, which in time should allow us to ramp up to full production again. While our first priority in ramp up will be to recover the remaining uranium resources in the existing two mine units at Lost Creek, the recent and anticipated regulatory approvals for recovery at the adjacent LC East project will allow us to subsequently expand our planned production into several additional mine units.

"We remain grateful for our dedicated operations and technical staff as they continue to optimize all operational aspects of Lost Creek. Lost Creek is an exceptional property and we are fortunate to have an experienced and professional team ready to ensure the most efficient return to full production operations when conditions warrant."

Financial Results
As of June 30, 2021, we had cash resources consisting of cash and cash equivalents of $21.5 million.

In addition to our cash position, our finished, ready-to-sell, conversion facility inventory value is immediately realizable, if necessary. We do not anticipate selling our existing finished-product inventory in 2021, unless market conditions change sufficiently to warrant its sale.

During the quarter, we received notifications that the principal amount of $893 thousand and accrued interest of approximately $10 thousand were forgiven under the terms of the Small Business Administration Paycheck Protection Program. This was treated as a forgiveness of debt on the Consolidated Statements of Operations for the three-months ended June 30, 2021 and a $903 thousand gain on debt forgiveness was recognized in other income.

Lost Creek Operations
Lost Creek continues to operate at reduced production levels while we await the implementation of the national uranium reserve, further relief pursuant to the recommendations of the United States Nuclear Fuel Working Group (the "Working Group") and additional positive developments in the uranium markets. The reduced production operations have allowed us to sustain operating cost reductions at Lost Creek, while continuing to conduct preventative maintenance and optimize processes in preparation for ramp up to full production rates. These preparations include advanced planning for anticipated drilling and production well installation in our fully permitted Mine Unit 2 ("MU2").

The Wyoming Uranium Recovery Program has approved an amendment to the Lost Creek source material license to include recovery from the uranium resource in the LC East Project (HJ and KM horizons) immediately adjacent to the Lost Creek Project. This license approval grants the Company access to six planned mine units in addition to the already licensed three mine units at Lost Creek. The approval also increases the license limit for annual plant production to 2.2 million pounds U3O8 which includes wellfield production of up to 1.2 million pounds U3O8 and toll processing up to one million pounds U3O8.

The Wyoming Department of Environmental Quality, Land Quality Division, continues its review of the application for amendment to the Lost Creek permit to mine which will add the LC East and KM mine units. We anticipate that the Land Quality Division review will be complete in 2021.

Shirley Basin Project
During Q2 the State of Wyoming and the EPA completed their respective reviews of our Shirley Basin Project and issued the source material license, permit to mine, and aquifer exemption for the project. These three approvals represent the final major permits required to begin construction of the Shirley Basin Project.

The Company plans three relatively shallow mining units at the project, where we have the option to build out a complete processing plant with drying facilities or a satellite plant with the ability to send loaded ion exchange resin to Lost Creek for processing. As approved, the Shirley Basin processing facility is allowed to recover up to one million pounds U3O8 annually from the wellfield. The annual production of U3O8 from wellfield production and toll processing of loaded resin or yellowcake slurry will not exceed two million pounds equivalent of dried U3O8 product.

Situated in an historic mining district, the project has existing access roads, power, waste disposal facility and shop buildings onsite. Because delineation and exploration drilling were completed historically, the project is construction ready. All wellfield, pipeline and header house layouts are finalized and additional, minor on-the-ground preparations have been initiated in 2021 Q3.

2021 Continuing Guidance
International recognition of nuclear power's role in achieving net-zero carbon emissions goals has resulted in a renewed interest in the uranium sector in 2021. The Paris Climate Agreement calls for net-zero carbon emissions by 2050 and the U.S. has rejoined the agreement under the Biden Administration, which continues to demonstrate support for the nuclear industry.

Our current cash position as of July 28, 2021, is $20.8 million. In addition to our strong cash position, we have nearly 285,000 pounds of finished, U.S. produced inventory, worth $9.2 million at recent spot prices. Our financial position provides us with adequate funds to maintain and enhance operational readiness at Lost Creek, as well as preserve our existing inventory for higher prices.

Our long-tenured operational and professional staff have significant levels of experience and adaptability which will allow for an easier transition back to full operations. Lost Creek operations can increase to full production rates in as little as six months following a go decision, simply by developing additional header houses within the fully permitted MU2. Development expenses during this six-month ramp up period are estimated to be approximately $14 million and are almost entirely related to MU2 drilling and header house construction costs. We are prepared to ramp up and to deliver our Lost Creek production inventory to the new national uranium reserve.

Additionally, with all major permits and authorizations for our Shirley Basin Project now in hand, we stand ready to construct at the mine site when market conditions warrant. We estimate up to nine years production at the project based upon the mineral resources reported in the Shirley Basin Preliminary Economic Assessment.

We will continue to closely monitor the uranium market and any actions or remedies resulting from the Working Group's report, the implementation of the uranium reserve program, or any further legislative actions, which may positively impact the uranium production industry. Until such time, we will continue to minimize costs and maximize the ‘runway' to maintain our current operations and the operational readiness needed to ramp up production when called upon.

About Ur-Energy
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 2.6 million pounds U3O8 from Lost Creek since the commencement of operations. Ur-Energy now has all major permits and authorizations to begin construction at Shirley Basin, the Company's second in situ recovery uranium facility in Wyoming and is in the process of obtaining remaining amendments to Lost Creek authorizations for expansion of Lost Creek. 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. The primary trading market for Ur‑Energy's common shares is on the NYSE American under the symbol "URG." Ur‑Energy's common shares also trade on the Toronto Stock Exchange under the symbol "URE." Ur-Energy's corporate office is located in Littleton, Colorado and its registered office is located in Ottawa, Ontario.

FOR FURTHER INFORMATION, PLEASE CONTACT
Jeffrey Klenda, Chairman & CEO
866-981-4588
Jeff.Klenda@Ur-Energy.com

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., our ability to control production operations at lower levels at Lost Creek in a safe and compliant manner; ability and timing to receive remaining permits and authorizations related to our LC East project; the timing to determine future development and construction priorities for Lost Creek and Shirley Basin, and the ability to readily ramp up and transition in a timely and cost-effective manner to full production operations when conditions warrant; the life of mine, costs and production results for Lost Creek and Shirley Basin; the ability of the Biden Administration to advance its clean energy agenda, its timing and whether meaningful changes for nuclear power may positively affect the domestic uranium recovery industry; the timing and program details for establishment of the new national uranium reserve, and our role in the reserve program; further implementation of recommendations from the U.S. Nuclear Fuel Working Group, including the timeline and scope of proposed remedies and related budget appropriations processes; and whether our financing activities and cost-savings measures which we have implemented will be sufficient to support our operations and for what period of time, including whether we will sell our current inventory during 2021) and are based on current expectations that, while considered reasonable by management at this time, inherently involve a number of significant business, economic, technical and competitive risks, uncertainties and contingencies. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "estimates," "intends," "anticipates," "does not anticipate," or "believes," or variations of the foregoing, or statements that certain actions, events or results "may," "could," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to, capital and other costs varying significantly from estimates; fluctuations in commodity prices; failure to establish estimated resources; the grade and recovery of mineral resources which are 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; changes in regulatory and legislative requirements; inflation; changes in exchange rates; 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.

View source version on accesswire.com:
https://www.accesswire.com/657728/Ur-Energy-Releases-2021-Q2-Results

Vancouver, British Columbia–(Newsfile Corp. – August 3, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce that the Company has completed a diamond drilling program at its Firebird Nickel Project ("Firebird") located near the town of Stony Rapids in northern Saskatchewan. The drilling program was fully-funded by ALX's exploration partner Rio Tinto Exploration Canada Inc. ("Rio Tinto") with ALX as operator. The summer 2021 drilling program encountered sulphides in an area that has never previously been drill-tested, providing a proof of concept for exploration at Firebird.

Firebird 2021 Exploration Program

The helicopter-assisted drilling program began in the third week of June 2021 on the first of four high-priority targets. Ground geophysical surveys were carried out on three targets to improve the definition of the conductive anomalies detected in a 2020 airborne survey. A total of 739.5 metres was completed in four diamond drill holes (see map below).

Sulphide mineralization was intersected at shallow depths in three of the four completed drill holes (see summary table below), with up to 55% sulphides estimated in hole FIRE-003 from the interval at 71.85 metres to 72.63 metres. When logging the drill core, a portable X-ray fluorescence device was used to confirm the presence of nickel and copper, however, absolute geochemical values cannot be reliably estimated and consequently are not reported at this time. Drill core is being shipped for analysis to ALS Global Geochemistry Analytical Lab in North Vancouver, BC, Canada. Results are expected later in August 2021 and will be released by the Company after their receipt, compilation and interpretation.

Summary of Firebird 2021 Drill Holes

Hole No.

Target
Name

Depth
of
Hole

(m)

UTM
Easting
(NAD83
Zone 13)

UTM
Northing
(NAD83
Zone 13)

Dip/
Azimuth
(°)

Host
Rock

Sulphide Zone

Width
of

Zone
(m)*

From
(m)

To
(m)

FIRE-001

Meersman West

279.0

433801.8

6583183.1

-85/340

Norite

80.72

82.17

1.45

Notes:

Magmatic breccia intersected, up to 50% sulphides – pyrrhotite, trace chalcopyrite, trace pentlandite

FIRE-002

FBM-4A

201.0

429056.5

6577663.7

-65/340

Para-gneiss

148.19

155.57

7.38

Notes:

Sulphides up to 5% – drill hole undercut target. Follow-up hole was reset at -45°

FIRE-003

FBM-4A

120.0

429056.1

6577664.6

-45/340

Norite

69.4

83.18

13.78

Notes:

Sulphides up to 55% in magmatic breccia with pyrrhotite + pyrite, trace chalcopyrite

FIRE-004

Wiley Lake B

139.5

427042.4

6580334.1

-85/160

Norite

19.48

29.22

9.74

Notes:

Sulphides up to 20%, pyrrhotite + pyrite

* True widths of mineralized zones are not yet known

Example of sulphides at 80.45 metres intersected in hole FIRE-003

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/3046/91784_8525ff4c449bab5d_001full.jpg

The Firebird 2021 exploration program began during the first week of June with a ground-truthing program of geophysical anomalies that were detected in the airborne VTEM™ Max survey completed in October 2020 (see ALX news release dated November 9, 2020, "ALX Resources Corp. and Rio Tinto Locate Airborne EM Anomalies at the Firebird Nickel Project"). The 2021 drilling program that followed faced a number of challenges, including mechanical difficulties and extreme heat that impacted drilling efficiency. All drill holes received downhole electromagnetic surveys after their completion to better define the targeted geophysical anomalies, which resulted in a reset of hole FIRE-002, having undercut the targeted conductor. The fourth target area, Currie Lake West, was not tested in this program due to the pending unavailability of the helicopter and drill.

Click on the highlighted link to view maps and pictures of ALX's exploration activities at the Firebird Nickel Project

About the Firebird Nickel Project

ALX owns 100% of Firebird, subject to 2.0% net smelter returns royalties on certain claims acquired from arm's-length vendors to the Company. ALX acquired its first claims at Firebird during a staking rush in May 2019. Additional land purchases and acquisitions by staking in 2019 and 2020 has increased the size of the Project to approximately 20,491 hectares (50,635 acres). Mobilization of equipment and personnel is achieved from the town of Stony Rapids, SK, located approximately 18 kilometres (11 miles) by air from the centre of the Project. Stony Rapids is connected to the Saskatchewan provincial road system by all-weather Highway 905 and has a fully-serviced airport to support both fixed-wing aircraft and helicopters.

Firebird is currently the subject of an option agreement whereby Rio Tinto Exploration Canada Inc. ("Rio Tinto") can earn up to an 80% interest in Firebird by incurring exploration expenditures of $12.0 million over a six-year period and by making a total of $125,000 in cash payments to the Company (see ALX news release dated August 24, 2020, "ALX Resources Corp. Announces Earn-In for the Falcon Nickel Project").

The 2020 airborne survey successfully delineated several new anomalous zones of strong conductivity in the northern part of Firebird where no modern airborne survey had ever been flown and high-grade nickel is present on surface. For example, in July 2020 ALX sampled up to 2.43% nickel in surface grab sampling in the Wiley Lake target area and up to 1.31% nickel in outcrop drilling using a portable backpack drill (see ALX news release dated July 27, 2020, "ALX Resources Corp. Samples up to 2.43% Nickel and 8.34 Grams/Tonne Gold in the Northern Athabasca Region, Saskatchewan"). ALX and Rio Tinto personnel subsequently identified high-priority anomalies from the VTEM™ survey results based on their strong conductivity and coincident high magnetic responses, which suggested the presence of sulphides, and subsequently developed drill targets for the summer of 2021.

National Instrument 43-101 Disclosure

Quality Assurance/Quality Control ("QA/QC")

A QA/QC following industry best practices was incorporated into the drill core sampling and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter-core duplicates, at a rate of approximately 10%. All drill core samples were collected as half-split core, apart from quarter-split duplicates.

All samples are shipped by ground to ALS Global Geochemistry Analytical Lab ("ALS") in North Vancouver, BC, Canada, for multi-element analysis. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of ALX and its Qualified Person.

Mafic intrusive and mineralized samples are to be analyzed using ALS's super trace multi-element complete characterization package. This includes determination of major oxides by fused bead preparation with ICP-ES determination, C and S by combustion furnace, Au-Pd-Pt by 30 gram lead fire assay with ICP-MS determination, resistate elements by lithium borate fusion with ICP-MS determination, aqua regia digest ICP-MS determination for volatile trace elements, and 4-acid digest ICP-MS determination for base metals. Overlimits for Pd and Pt (>1 ppm) will be analyzed via PGM-ICP27. Overlimits for Au (>1 ppm) will be analyzed via Au-AA25. Overlimits for Ni and Cu (>1%) and S (>5%) will be analyzed via ME-ICP81 for all elements.

Barren country rock samples are to be analyzed using ALS's super trace multi-element 4 acid digest with ICP-MS determination for 51 elements plus Au-Pt-Pd by 30 gram lead bead fire assay ICP-MS determination and pXRF determination for 7 resistate elements (Cr, Nb, Si, Ta, Ti, Y, Zr).

The technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geo., a Director of ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

About ALX

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". ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include gold, nickel, copper, and uranium projects. The Company uses the latest exploration technologies and holds interests in over 200,000 hectares of prospective lands in Saskatchewan and Ontario, stable Canadian jurisdictions that collectively host the highest-grade uranium mines in the world and offer a significant legacy of production from gold and base metals mines.

ALX owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Vixen Gold Project, the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, and in the Draco VMS Project in Norway. ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the prolific Patterson Lake Corridor, with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project, a joint venture with UEX Corporation and Orano Canada Inc., and a 100% interest in the Gibbons Creek Uranium Project.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

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 references to ALX's exploration projects, their prospectivity for minerals, and the Company's plans to undertake exploration activities at its projects. 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 be able to fully finance exploration at its projects, including drilling; initial findings at its projects may prove to be unworthy of further expenditure; commodity prices may not support exploration expenditures at its projects; and economic, competitive, governmental, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if nickel, gold or other metals or minerals are discovered in quantity, the projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Three Months Ended March 31, 2021, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91784

Niche Companies in Technology, Cybersecurity, Exploration & Mining, and more in Attendance

MIAMI, Aug. 03, 2021 (GLOBE NEWSWIRE) — EmergingGrowth.com a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth Companies and Markets announces the Schedule of the 13th Emerging Growth Conference.

The Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.

Register for the conference here.

The schedule for August 4, 2021, is as follows:

(All times are Eastern Time Zone)

We may see some schedule changes on Wednesday. To stay current on the schedule, please follow us on Twitter: https://twitter.com/EmergingGrowthC

9:40 – 9:45
Welcome to the Emerging Growth Conference.
Ana Berry

9:45 – 10:30
Bannerman Energy Ltd. (OTCQB: BNNLF), (ASX: BMN)
Brandon Munro, CEO

10:30 – 11:00
Lomiko Metals Inc. (OTCQB: LMRMF), (TSX-V: LMR)
A. Paul Gill, CEO

11:00 – 11:30
GlobeX Data Ltd. (OTCQB: SWISF), (CSE: SWIS)
Alain Ghiai, Founder and CEO

11:30 – 12:00
Third Bench Holdings (OTC Pink: NECA)
David Fair Founding Partner / CEO

12:00 – 12:30
Foothills Exploration, Inc. (OTC: FTXP)
Kevin Sylla, Executive Chairman

12:30 – 1:00
Doubleview Gold Corp. (OTC Pink: DBLVF), (TSX-V: DBG)
Farshad Shirvani, President / CEO

All interested in attending should visit the following link to register. You will then receive an email containing the link and time to sign into the conference.

Register for the conference here.

We may see some schedule changes on Wednesday. To stay current on the schedule, please follow us on Twitter: https://twitter.com/EmergingGrowthC

These exciting virtual conferences are like attending an “in person” event, you can sign in and out as often as you like.

About EmergingGrowth.com

Founded in 2009, Emerging Growth.com quickly became a leading independent small cap media portal. Over the years, it has developed an extensive history of providing unparalleled content, in identifying emerging growth companies and markets that can be overlooked by the investment community.

The next step in its evolution is the Emerging Growth Conference.

About the Emerging Growth Conference

The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in an effective and time efficient manner.

The audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts.

All Conferences are first announced on Twitter – Follow us on Twitter

All Conference replays emerge on our YouTube Channel – Subscribe to our YouTube Channel

All sessions will be conducted through video webcasts and will take place in the Eastern time zone. Our conference serves as a vehicle for Emerging Growth to build relationships with our existing and potential clients. Accordingly, a certain number of the presenting companies are our current clients, and some may become our clients in the future. In exchange for services we provide, our clients pay us fees in the form of cash and securities, and we may currently have, or in the future may have investments in the securities of certain of the presenting companies. Finally, certain of the presenting companies have paid us a fee to secure a presentation time slot or to present generally. The presentations to be delivered by the presenting companies (including any handouts of written materials) have not been approved, endorsed by or otherwise reviewed by EmergingGrowth.com nor should they in any way be construed to have been made in connection with an offer to sell or a solicitation of an offer to buy securities. Please consult an investment professional before investing in anything viewed on the Emerging Growth Conference or on EmergingGrowth.com.

If you believe your company, product or service is at the cusp of going mainstream, or you have an idea for an “Emerging Growth” company that might fit our model, contact us here.

Thank you for your interest in our conference, and we look forward to your participation in future conferences.

Contact:

Emerging Growth
Phone: 1-305-330-1985
Email: Conference@EmergingGrowth.com

Vancouver, British Columbia–(Newsfile Corp. – August 3, 2021) – GoviEx Uranium Inc. (TSXV: GXU) (OTCQB: GVXXF) ("GoviEx or the Company") is pleased to announce the positive results from the recent geophysics program completed on the Company's Falea polymetallic project in Mali (the "Falea Project").

  • A large, chargeable body highlighted underneath the Falea deposit, which is over 2 km in length, and 500 m wide on the Falea tenement.

  • Potential for chargeable body in the northeast area of the Bala license and the IP program highlights the much shallower depth to basement and associated unconformity.

  • The Falea and Bala areas are highly prospective for unconformity type polymetallic uranium-copper-silver deposits.

The Falea Project consists of three Exploration Permits; Falea, Bala and Madini. The Falea polymetallic deposit, containing uranium, copper, silver and gold, has been defined at or near the unconformity between the Taoudeni basal sediments and the underlying metamorphic rocks of the Birimian aged sequences by extensive drilling that stopped only a few metres beyond the ore body within the Birimian rocks.

It is believed that the Falea deposit results from mineralising fluids intruded via the faults in the area to deposit suitable trap sites at the unconformity with the overlying rocks (Figure 1). Historical drilling programmes have not tested the presence of mineralised bodies below the unconformity within the Birimian.

"The Falea Project already contains an indicated resource containing 17.4Mlb U3O8, 24.4 Mlb copper and 16.1 Mlb silver, and an inferred resources 13.4Mlb U3O8 also with copper and silver mineralisation.(1) A drill core assay program, in 2020, also highlighted gold mineralisation associated with the faulting.(2)(3) This IP survey clearly highlights the exploration potential for the Falea Project both for further unconformity based targets and deeper chargeability targets with uranium, copper, silver and gold mineralisation achievable," noted Govind Friedland, executive Chairman.

The IP and resistivity surveys completed in 2020 and 2021, by Terratec Geophysical Services, from Germany, were aimed at identifying the fault structures and the presence of chargeable bodies, which can be a proxy for the presence of mineralised bodies below the unconformity. A total of 245-line km were covered over 27 blocks for the gradient Induced Polarisation ("IP") and Resistivity and an additional 6 High Resolution IP ("HIRIP") profiles were completed (Figure 2).(3)

The results from this work has defined a large IP chargeable anomaly which extends southward for over 2 km from the Falea deposit, which has not yet been drill tested by GoviEx.

A number of fault structures can be seen in the HIRIP data and it could be envisaged that such structures acted as feeders to the Falea deposit, and may still host mineralisation (Figures 2, 3 and 4).

The recent 2021 survey also targeted the Bala licence, some 8 km south of the Falea deposit, where no historical drilling has been carried out. Previous field work has interpreted faulting from magnetic data as well as radiometric and radon anomalies at surface. An area of 4 km2 was selected to determine if any IP or resistivity anomalies would be present, followed by 2 HIRIP lines, which would define apparent depths of anomalies.

The results of the gradient IP and resistivity show the presence of a large chargeable body in the north-eastern side of the survey area, which can be seen also on the HIRIP sections. The presence of fault structures can also be seen, which are similar in orientation to what is seen further north.

The IP work to date has been successful, highlighting:

  • A large chargeable body underneath the Falea deposit, over 2km in length, and 500m in width on the Falea Exploration Permit.

  • This anomaly, and others now identified over the Falea Project, highlight the potential of other targets which the Company will be busy prioritising over coming months.

  • On the Bala Exploration Permit, there is potential chargeable body to the northeast and with a much shallower depth to basement, than on the Falea Exploration Permit.

  • The Falea and Bala Exploration Permit areas remain highly prospective for unconformity type polymetallic uranium-copper-silver deposits.

Figure 1: Potential flow of mineralised of the Falea Project.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_001full.jpg

Figure 2: Location of survey areas and HIRIP lines to date.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5017/91925_figure2enhanced.jpg

Figure 3: Line FAL20-1 shows IP anomaly underneath the Falea deposit, and drill holes only just clipping the anomalies and not testing them.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_008full.jpg

Figure 4: Line FAL-21_03- shows continuity of chargeable body at depth within the Birimian interpreted faulting in the area south of Falea deposit, the continuity of the anomaly between the two lines.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_009full.jpg

To view an enhanced version of Figure 5 (a), please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_012full.jpg

To view an enhanced version of Figure 5 (b), please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_011full.jpg

Figure 5: Gradient IP and resistivity images, showing extent of the chargeable anomaly and faulting in the area.

Figure 6: BAL21-A- shows interpreted faulting and also shallower depth to Birimian basement.

To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_013full.jpg

To view an enhanced version of Figure 7 (a), please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_014full.jpg

To view an enhanced version of Figure 7 (b), please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_015full.jpg

Figure 7: Bala Survey Area: gradient IP and Resistivity images- showing a large chargeable body to the Northeast of the area.

Qualified Person Statement

The technical content of this press release has been reviewed and approved by Mr. Jerome Randabel, MAIG, Chief Geologist of GoviEx, a Qualified Person as defined in NI 43-101.

Technical Notes

The gradient survey is carried out along lines spaced at 100m apart with line lengths ranging between 265 to 1,150 m. The electrode spacing or AB spacing was between 2,750 and 3,110 m, and receiver points spacing at 50 m on an overlapping pattern. Terratec used Time domain receivers from IRIS Instrument with 150 m of cable, with 7 brass electrodes spaced at 25 m. The transmitter used was a WalcerTX9000.

The block pattern is illustrated below:

To view an enhanced version of Figure 8, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_016full.jpg

The HIRIP Lines (High Resolution Resistivity and IP) were selected to detect resistivity and chargeability distribution at depth to support detailed geological interpretation. The technique provided true resistivity to a depth of approximately 550 m with electrode spacing of 20 m and a profile length of 1,900 m. The HIRIP lines were selected in discussion with Terratec. Transmitter injection points were prepared with a spacing of 40 m and offset 50 m (Figure 3) parallel to the receiver lines. The data distribution of a HIRIP pole dipole array for a 1,900 m line is illustrated below:

To view an enhanced version of Figure 9, please visit:
https://orders.newsfilecorp.com/files/5017/91925_f057491cf4504baf_017full.jpg

The equipment used by Terratec is a Time domain induced polarization multi electrode receiver from Iris Instruments connected to a 1,900 m long cable with 96 electrodes at 20m spacing. A Transmitter used was an Iris VP400.

Notes:

  1. See: Technical Report titled "Technical Report on the Falea Uranium, Silver and Copper Deposit, Mali, West Africa" prepared by Roscoe Postle Associates Inc. for Denison Mines Corp., October 26, 2015.

  2. See news release dated July 6, 2020.

  3. See news release dated December 15, 2020.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

About GoviEx Uranium

GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx's principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

Information Contacts

Govind Friedland, Executive Chairman
Daniel Major, Chief Executive Officer
Tel: +1-604-681-5529
Email: info@goviex.com
Web: www.goviex.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of current or historical facts contained in this news release are forward-looking information.

Forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in GoviEx's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward- looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

Forward-looking statements include those related to the exploration potential for the Falea Project; that the Falea deposit may still host mineralisation below the unconformity; the potential chargeable body of the Bala Exploration Permit; and that the Falea and Bala Exploration Permit areas remain highly prospective for unconformity type polymetallic uranium-copper-silver deposits.

Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Such assumptions, which may prove incorrect, include the following: (i) that the Company will be successful in its exploration and development plans for the Falea Project; (ii) that projected low capital expenditures for the Falea Project will remain unchanged or improve; (iii) that the Company will be able to follow up on the positive results of the geophysics program with additional exploration; and (iv) that the price of uranium will remain sufficiently high and the costs of advancing the Company's projects will remain sufficiently low so as to permit GoviEx to implement its business plans in a profitable manner.

Factors that could cause actual results to differ materially from expectations include (i) the inability of the Company to complete follow-up exploration work on the Falea Project; (ii) potential delays due to COVID-19 restrictions; (iii) the failure of the Company's projects, for technical, logistical, labour-relations, or other reasons; (iv) a decrease in the price of uranium below what is necessary to sustain the Company's operations; (v) an increase in the Company's operating costs above what is necessary to sustain its operations; (vi) accidents, labour disputes, or the materialization of similar risks; (vii) a deterioration in capital market conditions that prevents the Company from raising the funds it requires on a timely basis; and (viii) generally, the Company's inability to develop and implement a successful business plan for any reason.

In addition, the factors described or referred to in the section entitled "Risks Factors" in the MD&A for the year ended December 31, 2020, of GoviEx, which is available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.

Although GoviEx has attempted to identify important factors that could cause actual results, performance, or achievements to differ materially from those contained in the forward- looking statements, there can be other factors that cause results, performance, or achievements not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances, or results will materialize. As a result of these risks and uncertainties, no assurance can be given that any events anticipated by the forward-looking information in this news release will transpire or occur, or, if any of them do so, what benefits that GoviEx will derive therefrom. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and GoviEx disclaims any intention or obligation to update or revise such information, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91925

Individual and institutional investors as well as advisors are invited to log-on to VirtualInvestorConferences.com to view presentations

NEW YORK, Aug. 2, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series today announced that the presentations from the July Green Energy & Precious Metals lnvestor Conference are now available for on-demand viewing.

(PRNewsfoto/VirtualInvestorConferences.com)(PRNewsfoto/VirtualInvestorConferences.com)
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REGISTER OR LOGIN NOW TO VIEW THE PRESENTATIONS: https://bit.ly/37cWBqt

The company presentations will be available 24/7 for 90 days. Investors, advisors and analysts may download shareholder materials from the "virtual trade booth" for the next three weeks.

Participating Companies:

Presentation

Ticker(s)

Byron King, Editor, "Whiskey & Gunpowder", Agora Financial-St. Paul Research
"The Revenge of High School Chemistry"

Raymond M. McCormick, Managing Director, Energy & Natural Resources, Capstone Partners

"An Investment Banker's Perspective of the Uranium Industry"

Appia Energy Corp.

(OTCQB: APAAF | CSE: API)

Thor Mining PLC

(OTCQB: THORF | ASX: THR | AIM: THR)

Renforth Resources Inc.

(OTCQB: RFHRF | CSE: RFR)

Ion Energy Ltd.

(OTCQB: IONGF | TSX-V: ION)

Baselode Energy Corp.

(OTCQB: BSENF | TSX-V: FIND)

Blue Sky Uranium Corp.

(OTCQB: BKUCF | TSX: BSK)

Energy Fuels Inc.

(NYSE American: UUUU | TSX: EFR)

Euro Manganese Inc.

(OTCQX: EUMNF | TSX-V: EMN)

Silver Elephant Mining Corp

(OTCQX: SILEF | TSX-V: ELEF)

Commerce Resources Corp.

(OTCQX: CMRZF | TSX-V: CCE)

First Cobalt Corp.

(OTCQX: FTSSF | TSX-V: FCC)

Nouveau Monde Graphite Inc.

(NYSE: NMG | TSX-V: NOU)

Giga Metals Corp.

(OTCQB: HNCKF | TSX-V: GIGA)

Nova Royalty Corp.

(OTCQB: NOVRF | TSX-V: NOVR)

Lion One Metals Ltd.

(OTCQX: LOMLF | TSX-V: LIO)

Starcore International Mines Ltd.

(OTCQB: SHVLF | TSX: SAM)

Golden Valley Mines and Royalties Ltd.

(OTCQX: GLVMF | TSX-V: GZZ)

Arizona Metals Corp.

(OTCQX: AZMCF | TSX-V: AMC)

Barksdale Resources Corp.

(OTCQX: BRKCF | TSX-V: BRO)

Ridgeline Minerals Corp.

(OTCQX: RDGMF | TSX-V: RDG)

Liberty Gold Corp.

(OTCQX: LGDTF | TSX: LGD)

Outback Goldfields Corp.

(OTCQB: OZBKF | CSE: OZ)

Karora Resources Inc.

(OTCQX: KRRGF | TSX: KRR)

Empress Royalty Corp.

(OTCQB: EMPYF | TSX-V: EMPR)

Bunker Hill Mining Corp.

(OTCQB: BHLL | TSX-V: BNKR)

Vior Inc.

(TSX-V: VIO)

Kodiak Copper Corp.

(OTCQB: KDKCF | TSX-V: KDK)

Heliostar Metals Ltd.

(OTCQX: HSTXF | TSX-V: HSTR)

Honey Badger Silver Inc.

(Pink: HBEIF| TSX-V: TUF)

Tinka Resources Ltd.

(OTCQB: TKRFF | TSX-V: TK)

Salazar Resources Ltd.

(OTCQX: SRLZF | TSX-V: SRL)

Stratabound Minerals Corp.

(OTCQB: SBMIF | TSX-V: SB)

KORE Mining Ltd.

(OTCQX: KOREF | TSX-V: KORE)

Fabled Silver Gold Corp.

(OTCQB: FBSGF | TSX-V: FCO)

Element 29 Resources Inc.

(OTCQB: EMTRF| TSX-V: ECU)

Canada Nickel Company Inc.

(OTCQB: CNIKF | TSX-V: CNC)

Aztec Minerals Corp.

(OTCQB: AZZTF | TSX-V: AZT)

Granite Creek Copper Ltd.

(OTCQB: GCXXF | TSX-V: GCX)

Group Ten Metals Inc.

(OTCQB: PGEZF | TSX- V: PGE)

Metallic Minerals Ltd.

(OTCQB: MMNGF | TSX-V: MMG)

Imperial Mining Group Ltd.

(OTCQB: IMPNF | TSX-V: IPG)

Defiance Silver Corp.

(OTCQX: DNCVF | TSX-V: DEF)

Orezone Gold Corp.

(OTCQX: ORZCF | TSX-V: ORE)

GoldSpot Discoveries Corp.

(OTCQX: SPOFF | TSX-V: SPOT)

To facilitate investor relations scheduling, for more information about the program and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com.

About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

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SOURCE VirtualInvestorConferences.com

NYSE American symbol – UEC

CORPUS CHRISTI, Texas, Aug. 2, 2021 /PRNewswire/ – Uranium Energy Corp (NYSE American: UEC) (the "Company" or "UEC") is pleased to announce that, in conjunction with the holding of the Company's recent annual general meeting of stockholders on July 30, 2021, the following matters were duly ratified by the Company's stockholders and have now been implemented by the Board of Directors in the following manner:

  • Amir Adnani, Spencer Abraham, Vincent Della Volpe, David Kong, Ganpat Mani and Gloria Ballesta were elected to the Board of Directors of the Company;

  • PricewaterhouseCoopers LLP, Chartered Professional Accountants, were appointed as the Company's independent registered accounting firm;

  • the Company's 2021 Stock Incentive Plan was approved;

  • the Company's executive compensation was approved; and

  • the following Executive Officers of the Company were re-appointed by the Board of Directors of the Company immediately following the AGM:

Amir Adnani: President and Chief Executive Officer;

Pat Obara: Secretary, Treasurer and Chief Financial Officer; and

Scott Melbye: Executive Vice President.

About Uranium Energy Corp

Uranium Energy Corp is a U.S.-based uranium mining and exploration company. As a leading pure-play American uranium company, UEC is advancing the next generation of low-cost and environmentally friendly In-Situ Recovery (ISR) mining uranium projects. In South Texas, the Company's hub-and-spoke operations are anchored by our fully-licensed Hobson Processing Facility which is central to our Palangana, Burke Hollow, Goliad and other ISR pipeline projects. In Wyoming, UEC controls the Reno Creek project, which is the largest permitted, pre-construction ISR uranium project in the U.S. Additionally, the Company's diversified holdings provide exposure to a unique portfolio of uranium related assets, including: 1) major equity stake in the only royalty company in the sector, Uranium Royalty Corp; 2) physical uranium warehoused in the U.S.; and 3) a pipeline of resource-stage uranium projects in Arizona, Colorado, New Mexico and Paraguay. In Paraguay, the Company owns one of the largest and highest-grade ferro-titanium deposits in the world. The Company's operations are managed by professionals with a recognized profile for excellence in their industry, a profile based on many decades of hands-on experience in the key facets of uranium exploration, development and mining.

Stock Exchange Information:
NYSE American: UEC
WKN: AØJDRR
ISN: US916896103

Safe Harbor Statement

Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any other statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, market and other conditions, the actual results of exploration activities, variations in the underlying assumptions associated with the estimation or realization of mineral resources, the availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares, accidents, labor disputes and other risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release and in any document referred to in this news release. Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the Securities and Exchange Commission. For forward-looking statements in this news release, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

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View original content:https://www.prnewswire.com/news-releases/uranium-energy-corp-announces-results-of-annual-general-meeting-301346460.html

SOURCE Uranium Energy Corp

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Headquartered in Alabama, Potter will lead the Company’s efforts to construct its first-of-its-kind graphite processing plant

CENTENNIAL, Colo., August 02, 2021–(BUSINESS WIRE)–Westwater Resources, Inc. (NYSE American: WWR), a battery graphite development company, today announced the appointment of Chad M. Potter, a metals industry executive with almost two decades’ experience, as the company’s new Chief Operating Officer. Potter’s appointment follows Westwater’s June 22 announcement that it will bring a first-of-its kind, advanced graphite processing plant to the state of Alabama.

For the past several years, Potter, 46 years old, was the COO and VP of Operations in Alabama, Ohio, Kentucky and Tennessee at American Consolidated Industries, headquartered in Cleveland, Ohio. As a senior member of the American Consolidated Industries executive team, he led all operating activities for the company’s four business units and was responsible for safety, profitability, strategic growth, preventative/predictive maintenance, and acquisitions.

Prior to working at American Consolidated Industries, Potter was a member of the management team at Nucor Steel in Decatur, AL. He spent more than 14 years at Nucor, where he was responsible for all accounting, finance, IT, purchasing, human resources and warehouse functions at the company’s Decatur, AL flat-rolled Division. During his tenure at Nucor, he was promoted to CEO and General Manager of the Joint Venture for Nucor and JFE steel in Guanajuato, Mexico, a world-class exposed automotive galvanizing facility serving the growing automotive sector in Mexico. Potter received his MBA from Morehead State University and his BS in Business from Wright State University in Ohio.

"Chad Potter is a recognized leader in the metals industry known for implementing safe and profitable business practices, and he comes to Westwater with battle-tested executive aptitude, industry expertise, leadership know-how and a track record of world-class safety procedure implementation," said Chris Jones, CEO of Westwater. "As we get started with the construction of our new processing facility for our Coosa Graphite Project, Chad will lead in the implementation of state-of-the-art processes, cost controls, productivity optimization and revenue maximization – all while ensuring our employees and the surrounding community are safe. He’s a tremendous talent and a hands-on plant supervisor, and we look forward to the expansion of our team under his leadership."

"I’m looking forward to bringing my experience and skills to the green energy sector and particularly to Westwater Resources and its new graphite processing plant in Alabama, where we’ll soon provide more than 100 green economy jobs in Coosa County," said Potter. "For far too long, the U.S. has been dependent on foreign sources for our graphite, but thanks to Westwater, Alabama Graphite Products and the great state of Alabama, this is about to change. I’m thrilled to be taking this bold step into the future of clean energy with such an incredible team. I look forward to getting started."

Also, Westwater and Alabama Graphite Products wishes to congratulate Dain McCoig, Vice President of Operations, on his appointment to the Board of the Alabama Mining Association ("AMA"). AMA is the first state association to establish a sustainable mining program, and Mr. McCoig, along with Joshua Holland, Director of Environmental and Government Affairs, are committed to utilizing Westwater’s extensive experience to help make this effort a success.

About Westwater Resources

Westwater Resources (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.

Cautionary Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including but not limited to the results of the Company’s pilot program, future production of battery graphite products, future financing activities and financial resources, and activities involving the Coosa Graphite Project and the Coosa Graphite Deposit. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to successfully construct and operate a commercial-scale plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19 and its potential impacts to the capital markets; (e) government regulation of the graphite industry and the vanadium industry; (f) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (g) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama and Colorado; (h) the ability of the Company to enter into and successfully close acquisitions or other material transactions; (i) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (j) new litigation or arbitration; and (k) other factors which are more fully described in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210802005213/en/

Contacts

Westwater Resources

Christopher M. Jones, President & CEO
Phone: 303.531.0480
Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Product Sales Contact:
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
Email: Sales@westwaterresources.net

Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
Email: Westwater@plrinvest.com

LAKEWOOD, Colo., July 30, 2021 /PRNewswire/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") today reported its financial results for the quarter ended June 30, 2021. The Company's quarterly report on Form 10-Q has been filed with the U.S. Securities and Exchange Commission ("SEC") and may be viewed on the Electronic Document Gathering and Retrieval System ("EDGAR") at www.sec.gov/edgar.shtml, on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, and on the Company's website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.

Highlights:

  • At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory. At current commodity prices, the Company's inventory has a value of $39.1 million.

  • During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, which included a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million resulting from a significant increase in the Company's share price.

  • With several existing uranium mines on standby and significant existing inventories of Company-produced, U.S.-origin uranium, the Company continues to be ready to supply uranium into improved global markets and the proposed U.S. Uranium Reserve once it is established by the U.S. government.

  • During the first half of 2021, the Company began ramping up to commercial-scale production of a mixed rare earth element ("REE") carbonate ("RE Carbonate"), as a complement to its uranium business. In July 2021, Energy Fuels commenced deliveries of its RE Carbonate to a separation facility in Europe.

  • The Company has entered into a definitive agreement to sell a package of Energy Fuels' non-core conventional uranium projects located in Utah and Colorado to International Consolidated Uranium Inc. ("CUR"). Based on CUR's current share price, exchange rates and assuming the closing and full performance of the agreement, the current proforma value of this divestment is approximately US$24 million.

  • The Company has entered into a strategic alliance agreement with RadTran, LLC, a private technology development company, to evaluate the recovery of thorium and potentially radium from the Company's RE Carbonate and uranium process streams, as a complement to its uranium and RE Carbonate businesses, for use in the production of medical isotopes for emerging targeted alpha therapy ("TAT") cancer therapeutics.

Mark S. Chalmers, Energy Fuels' President and CEO, stated:

"Energy Fuels achieved another significant milestone in restoring U.S. rare earth supply chains when we recently announced the successful production of rare earth carbonate from U.S.-sourced natural monazite sand at our White Mesa Mill. We are also very excited about our recently announced Strategic Alliance with RadTran, which has the potential to help produce isotopes from our existing RE Carbonate and uranium process streams for use in cancer therapeutics that can improve human health and ultimately save lives. These two initiatives, which are complementary to our core uranium business, are examples of the unique and valuable capabilities of the White Mesa Mill.

"We also announced the sale of several non-core conventional uranium assets to International Consolidated Uranium. These are licensed uranium assets, with excellent production track-records. But we don't think markets value these assets appropriately within our portfolio. With this accretive disposition, we hope to unlock value in these excellent assets for our shareholders.

"The outlook for uranium also continues to improve, vanadium markets are strengthening and REE prices continue to exhibit strength. With three fully licensed uranium processing centers — the White Mesa Mill and the Nichols Ranch and Alta Mesa in situ recovery facilities — the largest NI 43-101 resource portfolio among U.S. uranium producers, and almost 700,000 pounds of U.S.-produced U3O8 in inventory, the Company remains well-positioned to benefit from a strengthening uranium market and the proposed U.S. Uranium Reserve once it is established by the U.S. government. But what I find most exciting about all this is that not only do we have excellent optionality and exposure to improved uranium markets, we are also leveraging our existing uranium assets to give the Company and our shareholders exposure to vanadium, REEs and potentially medical isotope markets, all as complements to our primary uranium business. Each of these complementary businesses could develop into a significant business for the Company in its own right and bodes well for our quickly developing "Critical Minerals Hub" in the U.S."

Webcast on Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT):

Energy Fuels will be hosting a video webcast Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT) to discuss its Q2-2021 financial results, rare earth production and other corporate initiatives. To join the webcast and access the presentation and the viewer-controlled webcast slides, please click on the link below:

Energy Fuels Q2-2021 Results Webcast

If you would like to participate in the webcast and ask questions, please dial in to (888) 664-6392 (toll free in the U.S. and Canada).

A link to a recorded version of the proceedings will be available on the Company's website shortly after the webcast by calling (888) 390-0541 (toll free in the U.S. and Canada) and by entering the code 679255#. The recording will be available until August 17, 2021.

Selected Summary Financial Information:

$000's, except per share data

Six months ended June 30,
2021

Six months ended June 30,
2020

Total revenues

$

809

$

788

Gross profit (loss)

809

(718)

Operating Loss

(17,189)

(14,276)

Net income (loss) attributable to the company

(21,692)1

(13,844)

Basic and diluted loss per share

(0.15)1

(0.12)

$000's

As at June 30, 2021

As at December 31, 2020

Financial Position:

Working capital

$

98,773

$

40,158

Property, plant and equipment, net

22,819

23,621

Mineral properties, net

83,539

83,539

Total assets

242,180

183,236

Total long-term liabilities

13,852

13,376

1.

Net loss and loss per share for the six months ending June 30, 2021 include a non-cash mark-to-market increase in warrant liabilities of $7.05 million, as a result of a significant increase in the Company's share price during that period. Net loss and loss per share for the six months ending June 30, 2020 include a non-cash mark-to-market decrease in warrant liabilities of $0.1 million, as a result of an insignificant decrease in the Company's share price during that period.

Financial Discussion:

At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory, including approximately 691,000 pounds of uranium and 1,672,000 pounds of high-purity vanadium, both in the form of immediately marketable product. The current spot price of U3O8, according to TradeTech, is $32.50 per pound (up 7% in 2021), and the current mid-point spot price of V2O5, according to Metal Bulletin, is $9.88 per pound (up 83% in 2021). Based on those spot prices, the Company's uranium and vanadium inventories have a current market value of $22.5 million and $16.5 million, respectively, totaling $39.0 million.

During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, compared to a net loss of $8.2 million for the second quarter of 2020, and a net loss of $21.7 million year-to-date compared to $13.8 million during the first six months of 2020. The increased net losses in 2021 are due primarily to increased development expenditures incurred in ramping up our RE Carbonate production at the White Mesa Mill in Utah (the "Mill") and a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million and $7.1 million year to date, resulting from an increase in the Company's share price.

Commencement of Rare Earth Carbonate Deliveries in 2021:

On July 7, 2021, the Company and Neo Performance Materials Inc. ("Neo") jointly announced that the first container (approximately 20 tonnes of product) of an expected first run of 15 containers of RE Carbonate was successfully produced by Energy Fuels at the Mill and is en route to Neo's Silmet rare earth separations facility in Estonia, creating a new United States-to-Europe rare earth supply chain.

Monazite sand is widely recognized as one of the most valuable rare earth minerals in the World, due to its superior distributions of magnetic REEs needed for various clean energy, defense and other advanced technologies. Natural monazite sand is currently recovered as a low-cost byproduct of heavy mineral sand ("HMS") operations in the U.S. and elsewhere in the world. The historic challenge with monazite is that it contains higher concentrations of natural uranium, thorium and other radionuclides relative to other minerals, thereby requiring specific licenses and specialized technical capabilities to handle and process. Energy Fuels currently holds the required licenses, and we have developed the ability to unlock the value of this domestic resource over the past 20+ years of recycling numerous feeds for the recovery of uranium. Energy Fuels' commercial-scale production of RE Carbonate from U.S.-mined natural monazite sand positions Energy Fuels as the only company in North America currently producing a monazite-derived, enhanced rare earth material.

The Company and Neo also announced the signing of a definitive supply agreement under which Energy Fuels will ship all or a portion of its RE Carbonate to Neo's Silmet facility for processing into separated rare earth materials used in rare earth permanent magnets and other rare earth-based advanced materials. We believe Energy Fuels is well on its way to creating a new, low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights, that allows for source validation and tracking from mining through final end-use applications for manufacturers in North America, Europe, Japan and other nations.

We are currently scoping the potential to produce separated REE oxides using proven solvent extraction ("SX") technology that we have utilized for the recovery of uranium and vanadium over the past 40+ years. We are also evaluating moving farther down the REE supply chain to produce certain rare earth metals, alloys and other products.

Sale of Non-Core Conventional Assets to International Consolidated Uranium Inc:

On July 15, 2021, the Company and International Consolidated Uranium Inc. ("CUR") jointly announced the signing of a definitive asset purchase agreement under which CUR will acquire a portfolio of Energy Fuels' non-core conventional uranium projects located in Utah and Colorado, including the Daneros mine, the Tony M mine, the Rim mine, the Sage Plain project, and several U.S. Department of Energy leases. In addition, at closing the Company and CUR will enter into toll-milling and operating agreements with respect to the properties. The consideration payable by CUR to Energy Fuels includes US$2 million cash payable at closing, such number of shares that results in Energy Fuels holding 19.9% of the outstanding CUR common shares immediately after closing, Cdn$6 million of deferred cash payable over time, and up to Cdn$5 million of deferred cash payable on the commencement of commercial production at the properties. Through this accretive disposition, Energy Fuels believes the value of these high-quality, permitted, and past-producing mines can be unlocked for Company shareholders, while also cutting standby costs, earning management fees, and potentially realizing toll milling fees in the future. Based on the current CUR share price, exchange rates and assuming the closing and full performance of the agreement, the proforma value of this divestment is approximately US$24 million.

Collaboration with RadTran, LLC on Recovering Medical Isotopes for Advanced Cancer Therapies:

On July 28, 2021, the Company announced the execution of a Strategic Alliance Agreement with RadTran, LLC, a technology development company focused on closing critical gaps in the procurement of medical isotopes for emerging targeted alpha therapy ("TAT") cancer therapeutics and other applications. Under this strategic alliance, the Company will evaluate the feasibility of recovering Th-232, and potentially Ra-226 from its existing uranium and RE Carbonate process streams at the Mill and, together with RadTran evaluate the feasibility of recovering Ra-228 from the Th-232 and Th-228 from the Ra-228 at the Mill using RadTran technologies. The recovered Ra-228, Th-228 and potentially Ra-226 would then be sold to pharmaceutical companies and others to produce Pb-212, Ac-225, Bi-213, Ra-224 and Ra-223, which are the leading medically attractive TAT isotopes for the treatment of cancer. Existing supplies of these isotopes for TAT applications are in short supply, and methods of production are costly and currently cannot be scaled to meet the demand as new drugs are developed and approved. This is a major roadblock in the research and development of new TAT drugs as pharmaceutical companies wait for scalable and affordable production technologies to become available. Under this exciting initiative, the Company has the potential to recycle valuable isotopes from its existing process streams, that would otherwise be lost to disposal, for use in the treatment of cancer.

Market Conditions

The outlook for uranium continues to improve, as demand continues to outpace supplies and uranium juniors and financial intermediaries enter the market to purchase uranium and build inventories. The weekly spot price for uranium has increased 4% from $31.25 to $32.50 per pound during the quarter and 7% from $30.40 to $32.50 during the first six months of 2021. The spot price of uranium is currently at $32.50 per pound as of July 23, 2021. Energy Fuels holds 691,000 pounds of U.S.-origin uranium in inventory that we recently produced at our own facilities in the U.S. through our low-cost alternate feed material production, which is among the lowest-cost uranium production in the world today.

Vanadium markets are also strengthening. An improving global economy, coupled with political unrest in South Africa and other factors, has caused vanadium prices to rise 83% this year, from $5.40 per pound as of December 25, 2020 to $8.75 per pound as of June 25, 2021 to $9.88 per pound as of July 30, 2021. Vanadium is a valuable clean energy metal, historically used in steel, master alloys, and chemicals. It is also seeing considerable interest in emerging grid-scale battery technologies used to store renewable energy. Energy Fuels also holds about 1.7 million pounds of finished high-purity vanadium pentoxide in inventory, plus 1.5 to 3.0 million pounds of solubilized vanadium inventory in the Mill's tailings solutions that we can recover relatively quickly. We also hold large quantities of high-grade vanadium resources at our standby mines where we recently developed new mining techniques that we believe can increase production and lower costs when mining resumes in the future. The Mill was the largest U.S. vanadium producer as recently as 2019.

Finally, REE prices continue to be strong, with the price of NdPr increasing 48% year to date from $78.50/kg on January 4, 2021 to $116.00/kg on July 30, 2021 and 118% from $53.3/kg on July 27, 2020 to date. The Company's sales price for its RE Carbonate is currently based on the prices of REE oxides, with the price of NdPr being the primary driver of the Company's RE Carbonate sales price at this time.

Operations Update and Outlook for Period Ending June 30, 2021

Overview

Although the outlook for uranium continues to improve, uranium prices have not risen enough to date to justify uranium production at the Company's mines and ISR facilities at this time. As a result, uranium recovery is expected to be maintained at reduced levels at current uranium price levels, until such time when market conditions improve sufficiently or the U.S. government buys uranium from the Company following the establishment of the proposed U.S. Uranium Reserve.

The Company will continue to seek new sources of revenue, including through its emerging REE business, as well as new sources of alternate feed materials and new fee processing opportunities at the Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices). The Company is also seeking new sources of natural monazite sands for its emerging rare earth business, and continues its support of U.S. governmental activities to assist the U.S. uranium mining industry, including the proposed establishment of a U.S. Uranium Reserve.

Extraction and Recovery Activities Overview

During the six months ended June 30, 2021, the Company did not recover significant quantities of U3O8, and expects to package insignificant quantities of U3O8 for the remainder of 2021, focusing instead on ramping up and optimizing its RE Carbonate production. This is a reduction from previous guidance of 30,000 to 60,000 pounds of uranium production in 2021. All uranium recovered during 2021 at the Mill is expected to be retained in-circuit at the Mill and not to be packaged in 2021. The Company does not plan to extract and/or recover any amounts of uranium of any significance from its Nichols Ranch Project in 2021, which was placed on standby in the second quarter of 2020 due to the depletion of its existing wellfields. In addition, the Company expects to keep the Alta Mesa Project and its conventional mining properties on standby during 2021.

The Company expects to recover approximately 700 to 1,100 tonnes of RE Carbonate at the Mill in 2021, containing approximately 350 to 550 tonnes of total rare earth oxides ("TREO"), subject to receipt of sufficient quantities of monazite. This is a reduction from previous guidance of 2,000 to 3,000 tons (1,814 to 2,721 tonnes) of RE Carbonate, containing approximately 1,000 to 1,600 tons (907 to 1,451 tonnes) of TREO, in 2021, due to what the Company expects to be a short-term delay in supply of monazite sands to the Mill under the Company's existing supply agreement. The Company expects to produce no vanadium during the 2021 year.

The Company has strategically opted not to enter into any uranium sales commitments for 2021. Therefore, subject to the proposed establishment of a U.S. Uranium Reserve and general market conditions, existing inventories are expected to remain unchanged at approximately 691,000 pounds of U3O8 at year-end. All V2O5 inventory is expected to be sold on the spot market if prices rise sufficiently above current levels, but otherwise maintained in inventory. The Company expects to sell all or a portion of its RE Carbonate to Neo Performance materials or other global separation facilities and/or to stockpile it for future separation at the Mill or elsewhere.

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of RE Carbonate in 2021. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as RE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: production and sales forecasts; costs of production; any expectation that the Company will continue to be ready to supply uranium into the proposed U.S. Uranium Reserve once it is established; scalability, and the Company's ability and readiness to re-start, expand or deploy any of its existing projects or capacity to respond to any improvements in uranium market conditions or in response to the proposed Uranium Reserve; any expectation regarding any remaining dissolved vanadium in the White Mesa Mill's tailings facility solutions; any expectation that the Company's recently developed mining techniques can increase production and lower costs when vanadium mining resumes in the future; the ability of the Company to secure any new sources of alternate feed materials or other processing opportunities at the White Mesa Mill; expected timelines for the permitting and development of projects; the Company's expectations as to longer term fundamentals in the market and price projections; any expectation that the Company will maintain its position as a leading uranium company in the United States; any expectation that the proposed Uranium Reserve will be implemented and if implemented the manner in which it will be implemented and the timing of implementation; any expectation with respect to timelines to production; any expectation that the Mill will be successful in producing RE Carbonate on a commercial basis; any expectation that Neo will be successful in separating the Mill's RE Carbonate on a commercial basis; any expectation that Energy Fuels will be successful in developing U.S. separation, or other value-added U.S. REE production capabilities at the Mill, or otherwise; any expectation that the Company and Neo will be successful in jointly developing a fully integrated U.S.-European REE supply chain; any expectation that the Company will be successful in building a low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights; any expectation with respect to the future demand for REEs; any expectation with respect to the quantities of monazite ore to be acquired by Energy Fuels, the quantities of RE Carbonate to be produced by the Mill or the quantities of contained TREO in the Mill's RE Carbonate; any expectation that the Company's evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of medical isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; and any expectation that the Company's agreement to sell certain of its non-core properties to CUR will complete as contemplated or at all, or as to the proforma value of this divestment to the Company. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of sources of alternate feed materials and other feed sources for the Mill; competition from other producers; public opinion; government and political actions; the appropriations for the proposed Uranium Reserve not being allocated to that program and the Uranium Reserve not being implemented; the manner in which the proposed Uranium Reserve, if established, will be implemented; the Company not being successful in selling any uranium into the proposed Uranium Reserve at acceptable quantities or prices, or at all; available supplies of monazite sands; the ability of the Mill to produce RE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate the RE Carbonate produced by the Mill to meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for REEs; the ability of the Mill to be able to separate thorium and potentially radium at reasonable costs or at all; the ability of the Company and RadTran to be able to recover other isotopes from thorium and radium recovered at the Mill at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company's website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

CisionCision
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SOURCE Energy Fuels Inc.

Calgary, Alberta–(Newsfile Corp. – July 30, 2021) – New Stratus Energy Inc. (TSXV: NSE) ("New Stratus" or the "Corporation") is pleased to announce that it has closed the second and final tranche of the previously announced brokered private placement led by Canaccord Genuity Corp. (the "Lead Agent") as lead agent and sole bookrunner on behalf of a syndicate of agents comprised of Echelon Wealth Partners Inc. and Paradigm Capital Inc. (together with the Lead Agent, the "Agents"). Upon closing of the final tranche, the Corporation issued 2,726,377 units ("Units") of the Corporation at a price of $0.30 per Unit for gross proceeds of approximately $818,000 bringing the aggregate total from the first and second tranche to 32,190,751 Units for gross proceeds of approximately $9.66 million (the "Offering"). Each Unit is comprised of one common share of the Corporation (a "Common Share") and one-half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant is exercisable for one Common Share at an exercise price of $0.45 for a period of 24 months from July 21, 2021.

As consideration for services rendered in connection with the Offering, the Corporation paid to the Agents a commission in the amount equal to 8% of the gross proceeds of the Offering.

The Corporation intends to use the net proceeds from the Offering for development and exploration activities on its Colombian block, ‎VMM-18, the evaluation of other opportunities in its core assessment areas of Colombia, Ecuador, Peru and Venezuela and general corporate purposes.

In accordance with applicable Canadian securities laws, all securities issued pursuant to the final tranche Offering will be subject to a four (4) month hold period ending December 1, 2021. The Offering remains subject to final approval from the TSX Venture Exchange.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information:

Jose Francisco Arata
Chief Executive Officer
jfarata@newstratus.energy ‎

Wade Felesky
President
wfelesky@newstratus.energy

Mario Miranda
Chief Financial Officer
mmiranda@newstratus.energy

Forward-Looking Information

Certain information set forth in this press release constitutes "forward-looking statements" and "forward-looking information" under applicable securities laws. All information other than statements of historical fact are forward-looking statements. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "intends", "projects", "plans", and similar expressions. This press release includes certain forward-looking statements concerning the Offering, including the use of the net proceeds, as well as management's objectives, strategies, beliefs and intentions. These statements are not guarantees of future performance. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, including, for example, the risks inherent in oil and gas exploration and production activities, volatility in commodity prices, changes in political conditions, competitive risks and the availability of financing. Such risks and uncertainties may cause the Corporation's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91704

TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

/NOT FOR DISTRIBUTION TO THE UNITED STATES/

VANCOUVER, BC, July 30, 2021 /CNW/ – Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), "Blue Sky" or the "Company") is pleased to announce it has closed the final tranche of the non-brokered private placement financing announced on July 12, 2021 consisting of 4,264,000 units in this tranche for a total of 12,977,750 units at a price of $0.16 per unit for total gross proceeds of $2,076,440.

Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.)Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.)
Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.)

Each unit consists of one common share and one transferrable common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.25 per share for two years from the date of issue, expiring on July 30, 2023.

In this tranche, finder's fees of $14,702.80 are payable in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 91,893 non-transferable finder's warrants are being issued (the "Finder's Warrant"). Each Finder's Warrant entitles a finder to purchase one common share at a price of $0.25 per share for two years from the date of issue, expiring on July 30, 2023. In total, cash finder's fees of $49,002.80 will have been paid and 306,268 Finder's Warrants will have been issued.

Certain insiders of the Company participated in the Private Placement for $7,200 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market capitalization.

The proceeds of the financing will be used for exploration programs on the Company's projects in Argentina and for general working capital.

This financing is subject to regulatory approval and all securities to be issued pursuant to this tranche of the financing are subject to a four-month hold period expiring on November 30, 2021.

About Blue Sky Uranium Corp.
Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"

______________________________________
Nikolaos Cacos, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

SOURCE Blue Sky Uranium Corp.

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View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/30/c1100.html

Energy Fuels (UUUU) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.08 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of -75%. A quarter ago, it was expected that this uranium and vanadium miner and developer would post a loss of $0.05 per share when it actually produced a loss of $0.08, delivering a surprise of -60%.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

Energy Fuels, which belongs to the Zacks Mining – Non Ferrous industry, posted revenues of $0.46 million for the quarter ended June 2021, missing the Zacks Consensus Estimate by 91.68%. This compares to year-ago revenues of $0.4 million. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Energy Fuels shares have added about 27.9% since the beginning of the year versus the S&P 500's gain of 17.7%.

What's Next for Energy Fuels?

While Energy Fuels has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Energy Fuels was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.03 on $10.53 million in revenues for the coming quarter and -$0.17 on $18.41 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Mining – Non Ferrous is currently in the top 46% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

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Energy Fuels Inc (UUUU) : Free Stock Analysis Report
 
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Alliance has the potential to develop commercial technologies and sources of isotopes needed for a new domestic medical supply chain

LAKEWOOD, Colo., July 29, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") is pleased to announce the execution of a Strategic Alliance Agreement ("Alliance") with RadTran, LLC ("RadTran") to evaluate the recovery of thorium, and potentially radium, from the Company's existing rare earth carbonate ("RE Carbonate") and uranium process streams for use in the production of medical isotopes for emerging targeted alpha therapy ("TAT") cancer therapeutics. This initiative will complement the Company's existing uranium and RE Carbonate businesses, as it will investigate the recovery of isotopes in existing process streams at Energy Fuels' White Mesa Mill in Utah (the "Mill") for medical purposes. RadTran is a Denver, Colorado-based technology development company focused on closing critical gaps in the procurement of medical isotopes for these applications.

Energy Fuels Logo (CNW Group/Energy Fuels Inc.)Energy Fuels Logo (CNW Group/Energy Fuels Inc.)
Energy Fuels Logo (CNW Group/Energy Fuels Inc.)

Uranium and thorium are long-lived (long "half life"), naturally occurring radioactive elements that decay into a series of different elements through the successive loss of alpha or beta particles. Certain elements in or derived from the uranium and thorium decay chains have short half-lives and emit alpha particles. These alpha emitting isotopes are currently being studied by major pharmaceutical companies developing therapies to treat cancer on a cellular level, while minimizing damage to surrounding healthy tissue. However, existing domestic and global supplies of these isotopes are in short supply, and existing methods of production are costly and currently unable to scale-up to meet widespread demand as new drugs are developed and approved in the U.S., Europe and around the World. These are major roadblocks in the research and development of new TAT drugs, as pharmaceutical companies wait for scalable and affordable production technologies to become available.

The Mill can represent a possible solution to this medical supply chain issue. The Mill is the only licensed and operating conventional uranium mill in the U.S., and it recently began production of RE Carbonate from natural monazite sands. Monazite sands, natural uranium ores, and certain other feed sources for the Mill contain thorium-232 ("Th-232") and radium-226 ("Ra-226"), which would normally be disposed of permanently in the Mill's tailings impoundments following processing for uranium and RE Carbonate recovery. As an initial step in this medical isotope initiative, Energy Fuels and RadTran will evaluate the technical and economic feasibility of recovering Th-232, and potentially Ra-226, from the Mill's natural monazite and other existing feeds, subject to receipt of any required licenses, permits and regulatory approvals. These isotopes are a necessary precursor to the specific medical isotopes needed by pharmaceutical companies for their emerging TAT cancer therapeutics, making this initiative the potential beginning of an important new domestic medical supply chain.

If this initial step is feasible, and subject to receipt of any required licenses, permits and regulatory approvals, Energy Fuels and RadTran will then evaluate the feasibility of recovering radium-228 ("Ra-228") from the Th-232 and thorium-228 ("Th-228") from the Ra-228 at the Mill using RadTran technologies, with the backing of the Pacific Northwest National Laboratory ("PNNL") in Richland, Washington. The recovered Ra-228, Th-228, and potentially Ra-226, would then be sold to pharmaceutical companies and others to produce the short-lived isotopes which are the leading medically attractive TAT isotopes for the treatment of cancer, including lead-212 ("Pb-212"), actinium-225 ("Ac-225"), bismuth-213 ("Bi-213"), radium-224 ("Ra-224"), and radium-223 ("Ra-223").

"The Alliance between Energy Fuels and RadTran is remarkable as it aims to alleviate the major bottleneck in the targeted alpha therapy market. Upon the successful production of these isotopes at the Mill, this Alliance will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply," stated Dr. Saleem Drera, Founder and CEO of RadTran.

If successful, this Alliance has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry. In addition, Energy Fuels can support cancer research and the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. This initiative is also highly complementary to the Company's existing businesses, as the uranium and rare earth feeds Energy Fuels currently processes contain the required thorium and radium. Energy Fuels is seeking to put these isotopes to beneficial human use, rather than losing them to permanent disposal.

"At its heart, the Energy Fuels' Alliance with RadTran is about maximizing the value and human benefit of our existing uranium and rare earth feeds at the White Mesa Mill," stated Mark S. Chalmers, President and CEO of Energy Fuels. "Energy Fuels has a long track record of ethically and responsibly processing a wide variety of naturally occurring radioactive materials at the White Mesa Mill for the recovery of uranium, and more recently, rare earths. In our view, recovering medical isotopes from these same streams, that would otherwise be lost to direct disposal, is a great way to maximally use all of our feeds. Indeed, we are essentially replicating China's 'monazite plan.' China purchases monazite from around the globe, recovers the uranium for use in their nuclear industry, recovers the thorium presumably for use in their nuclear and pharmaceutical industries, and recovers the rare earths for processing into advanced materials needed for various clean energy and advanced technologies. Our White Mesa Mill is a facility unique to the United States that has the potential to do the same thing at world standards.

"We believe Energy Fuels has the potential to create a domestic supply of thorium and possibly radium that can be harvested using RadTran's technologies for use in the production of the next generation of cancer therapies, a potentially multi-billion dollar industry. And we would be accomplishing this in a way that is environmentally beneficial and highly congruent with Energy Fuels' recycling and sustainability goals. We look forward to working with RadTran on this important initiative."

ABOUT ENERGY FUELS

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery ("ISR") Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

This news release contains "forward-looking information" within the meaning of applicable securities laws in Canada and the United States. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels' objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation that the Company's evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of any other isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; any expectation that this initiative will alleviate the major bottleneck in the targeted alpha therapy market; any expectation that, upon the successful production of these isotopes at the Mill, this initiative will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply; any expectation that this initiative has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry, or that this next generation of cancer therapies could be a potentially multi-billion dollar industry; any expectation that all required licenses, permits and regulatory approvals will be obtained on a timely basis or at all; and any expectation that this initiative may result in the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "continues", "forecasts", "projects", "predicts", "intends", "anticipates" or "believes", or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of thorium, radium and other isotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; and market factors, including future demand for and prices realized from the sale of radium, thorium or other isotopes produced at the Mill. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assume no obligation to update the information in this communication, except as otherwise required by law.

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SOURCE Energy Fuels Inc.

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Denison Mines (CNW Group/Denison Mines Corp.)
Denison Mines (CNW Group/Denison Mines Corp.)

TORONTO, July 29, 2021 /PRNewswire/ – Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to provide a progress update on the In-Situ Recovery ("ISR") field test activities occurring at Phase 1 of the high-grade Phoenix uranium deposit ("Phoenix") at the Company's 90% owned Wheeler River Uranium Project ("Wheeler River" or the "Project"). The Company is also pleased to announce the discovery of additional high-grade uranium mineralization, including 22.0% eU3O8 over 8.6 metres in drill hole GWR-045, located outside of the existing high-grade resource domain associated with Zone A and Phase 1 of the phased mining approach currently planned for Phoenix. View PDF

David Bronkhorst, Denison's VP Operations, commented, "We are pleased to have safely and successfully completed a substantial portion of the planned 2021 ISR field test program – including the installation of the commercial-scale wells in our five-spot test pattern ("Test Pattern") and nine of eleven planned monitoring wells. Baseline hydrogeologic testing and permeability enhancement efforts completed within the Test Pattern thus far are encouraging and will inform future test work as we progress towards the initiation and completion of a full-scale tracer test during the remainder of the program. The tracer test is planned to be completed during the third quarter and is expected to provide a more complete understanding of the operating parameters in Phase 1 and important information in support of our objective of permitting and completing a lixiviant test in 2022 – which is considered a key de-risking milestone for the project.

Additionally, the discovery of a thick interval of high-grade uranium mineralization in GWR-045 is quite exciting, as it has the potential to meaningfully increase the high-grade mineral resources estimated within the area currently expected to represent the first phase of ISR mining at Phoenix."

Interim progress highlights from the 2021 ISR field program include the following:

  • Completed installation of commercial-scale wells: All five new commercial-scale well ("CSW") installations planned for the Test Pattern, located in the Phase 1 area of Phoenix, are complete. The Test Pattern consists of the newly installed five-spot pattern (GWR-038 to GWR-042), and GWR-032, which was installed in 2019 (see Figure 1). Taken together, the CSWs are spaced between 5 and 30 metres apart and are expected to facilitate further hydrogeologic testing and assessment of down-hole permeability enhancement tools as part of the ongoing field program.

  • Successful installation of monitoring wells: Nine of eleven monitoring wells ("MWs") have been successfully installed within the Phase 1 area (see Figure 1) and outfitted with the associated materials and monitoring equipment to facilitate ongoing observation of the current and future hydrogeological test work – allowing for detailed hydrogeological assessment and water quality sampling. The final two MWs are expected to be completed in early August.

  • Collected baseline hydrogeologic information and deployed permeability enhancement: The MaxPERF drilling tool was successfully deployed in all planned CSWs to create a series of lateral drill holes (penetration tunnels) designed to mechanically engineer increased access to the existing permeability of the ore zone formation.

  • Discovery of High-Grade Mineralization in GWR-045: GWR-045 was completed as part of the ISR field test program to install MWs to the northwest of the five-spot Test Pattern. Based on the Phoenix block model, GWR-045 was expected to intersect low-grade uranium mineralization along the northwestern margin of the deposit, approximately 5 metres outside of the boundary of the Phoenix Zone A high-grade resource domain. The drill hole, however, intersected a thick interval of high-grade unconformity-associated uranium mineralization grading 22.0% eU3O8 over 8.6 metres (see Figures 1 and 2; Table 1). The high-grade mineralization intersected by GWR-045 remains open to the northwest, representing an area for further exploration and potential mineral resource expansion of Phoenix. Denison's exploration team is currently incorporating the results of GWR-045 into the Phoenix geological model to evaluate the potential to extend the high-grade domain with additional exploration drilling in the Phase 1 area of Phoenix.

Table 1 – GWR-045 Mineralized Intersection

Drill Hole

From (m)

To (m)

Length (m)4

eU3O8 (%)1,2,3

GWR-045

406.95

415.55

8.6

22.0

Notes:

1. eU3O8 is radiometric equivalent U3O8 derived from a calibrated total gamma down-hole probe.

2. Composited above a cut-off grade of 0.1% eU3O8

3. Composited using a 1.0 metre minimum mineralization thickness and 1.0 metre maximum waste

4. The stated length is interpreted to represent true thickness as the drill hole is oriented vertically, and the unconformity mineralization is interpreted to lie horizontally

Activities Planned for Remainder of 2021 ISR Field Program

Once the final two MWs are completed, the Test Pattern will be ready for additional hydrogeologic test work, including the following planned activities:

  • Multi-day pump and injection tests to be conducted on the full-scale Test Pattern. These tests are intended to assess the Test Pattern's total permeability, and support an ongoing assessment of the ability of various permeability enhancement tools to normalize the varying levels of permeability associated with the natural fracture/structure network of the deposit;

  • Ion tracer tests will be conducted by injecting and recovering solution with dissolved inorganic salts throughout the full-scale Test Pattern. This process is expected to (1) establish breakthrough times for each CSW, with injection from the centre well in the Test Pattern and recovery from the outer ring wells, and (2) confirm modelling of sub-surface pathways. Taken together, this test is expected to provide a more complete understanding of the hydrogeologic characteristics expected throughout Phase 1 and the necessary datasets for the design and permitting of a lixiviant test planned to make use of the same Test Pattern in 2022;

  • Deployment and evaluation of additional permeability enhancement techniques based on individual well characteristics and associated hydrogeological assessments; and

  • Extensive collection and analysis of permeameter samples from new and historic drill core for the assessment of matrix permeability spatially distributed throughout the areas representative of all of the mining phases planned for Phoenix.

All test work in 2021 will be conducted using site groundwater. Following the field tests and associated data collection, detailed hydrogeological and geochemical modelling of the test data will be carried out by various Qualified Persons ("QPs").

COVID-19

The Company is committed to ensuring that the Wheeler River site is a safe operating environment for its staff and contractors and that the Company's field activities do not compromise the health and safety of the residents of northern Saskatchewan. In 2020, the Company's Occupational Health and Safety Committee in Saskatoon developed a comprehensive guide for the safe resumption of work at Wheeler River. The protocols consider the unique health and safety risks associated with operating a remote work camp amidst the ongoing COVID-19 pandemic. Public health guidelines and best practices (including testing) have been incorporated into the Company's protocols.

Despite the Company's current intentions, it is possible that the 2021 ISR field program may be disrupted by the continuously evolving social and/or economic disruptions associated with the COVID-19 pandemic, which are outside of the control of the Company – for example, provincial or local travel restrictions, or changing public health guidelines, could impact the ability of Company or contractor staff to attend to
the site.

Use of Radiometric Equivalent Grades

The Company typically reports results as preliminary radiometric equivalent grades ("eU3O8"), derived from a calibrated downhole total gamma probe, during active exploration programs and subsequently reports definitive assay grades following sampling and chemical analysis of the mineralized drill core. In the case where core recovery within a mineralized intersection is less than 80%, radiometric grades are considered to be more representative of the mineralized intersection and may be reported in the place of assay grades. Radiometric equivalent probe results are subject to verification procedures by qualified persons employed by Denison prior to disclosure. For further details on the total gamma downhole probe methods employed by Denison, QAQC procedures and data verification procedures please see Denison's Annual Information Form dated March 26, 2021 available on Denison's website and under its profile on SEDAR and EDGAR.

About Phoenix Phase 1

Phase 1 of Phoenix is estimated to contain approximately 22.2 million pounds U3O8 (37,242 tonnes at 27.1% U3O8, above a cut-off grade of 0.8% U3O8) in Probable mineral reserves. Based on current designs, the Company estimates approximately 6.6 million pounds U3O8 (7,717 tonnes at 39.2% U3O8, above a cut-off grade of 0.8% U3O8) in Probable mineral reserves are contained within the expected operating perimeter of the Test Pattern (see Figure 1). These estimates are derived as a direct subset of those reported in the Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018 with an effective date of September 24, 2018. The key assumptions, parameters and methods used to estimate the mineral reserves herein remain unchanged.

About Wheeler River

Wheeler River is the largest undeveloped uranium project in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan – including combined Indicated Mineral Resources of 132.1 million pounds U3O8 (1,809,000 tonnes at an average grade of 3.3% U3O8), plus combined Inferred Mineral Resources of 3.0 million pounds U3O8 (82,000 tonnes at an average grade of 1.7% U3O8). The project is host to the high-grade Phoenix and Gryphon uranium deposits, discovered by Denison in 2008 and 2014, respectively, and is a joint venture between Denison (90% and operator) and JCU (Canada) Exploration Company Limited (10%).

A Pre-Feasibility Study ("PFS") was completed for Wheeler River in late 2018, considering the potential economic merit of developing the Phoenix deposit as an ISR operation and the Gryphon deposit as a conventional underground mining operation. Taken together, the project is estimated to have mine production of 109.4 million pounds U3O8 over a 14-year mine life, with a base case pre-tax NPV of $1.31 billion (8% discount rate), Internal Rate of Return ("IRR") of 38.7%, and initial pre-production capital expenditures of $322.5 million. The Phoenix ISR operation is estimated to have a stand-alone base case pre-tax NPV of $930.4 million (8% discount rate), IRR of 43.3%, initial pre-production capital expenditures of $322.5 million, and industry leading average operating costs of US$3.33/lb U3O8. The PFS is prepared on a project (100% ownership) and pre-tax basis, as each of the partners to the Wheeler River Joint Venture are subject to different tax and other obligations.

Further details regarding the PFS, including additional scientific and technical information, as well as after-tax results attributable to Denison's ownership interest, are described in greater detail in the NI 43-101 Technical Report titled "Pre-feasibility Study for the Wheeler River Uranium Project, Saskatchewan, Canada" dated October 30, 2018 with an effective date of September 24, 2018. A copy of this report is available on Denison's website and under its profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.shtml.

Denison suspended certain activities at Wheeler River during 2020, including the EA process, which is on the critical path to achieving the project development schedule outlined in the PFS. While the EA process has resumed, the Company is not currently able to estimate the impact to the project development schedule outlined in the PFS, and users are cautioned against relying on the schedule estimates provided therein, including with respect to the start of pre-production activities in 2021 and first production in 2024.

About Denison

Denison is a uranium exploration and development company with interests focused in the Athabasca Basin region of northern Saskatchewan, Canada. In addition to the Wheeler River project, Denison's interests in the Athabasca Basin include a 22.5% ownership interest in the McClean Lake joint venture ("MLJV"), which includes several uranium deposits and the McClean Lake uranium mill that is contracted to process the ore from the Cigar Lake mine under a toll milling agreement, plus a 25.17% interest in the Midwest Main and Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé ("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake property. The Midwest Main, Midwest A, THT and Huskie deposits are located within 20 kilometres of the McClean Lake mill. In addition, Denison has an extensive portfolio of exploration projects covering approximately 280,000 hectares in the Athabasca Basin region.

Denison is also engaged in mine decommissioning and environmental services through its Closed Mines group (formerly Denison Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides post-closure mine care and maintenance services to a variety of industry and government clients.

Follow Denison on Twitter @DenisonMinesCo

Qualified Persons

The technical information contained in this release has been reviewed and approved by Mr. David Bronkhorst, P.Eng, Denison's Vice President, Operations and Mr. Andrew Yackulic, P. Geo., Denison's Director, Exploration, who are Qualified Persons in accordance with the requirements of NI 43-101.

Cautionary Statement Regarding Forward-Looking Statements

Certain information contained in this news release constitutes 'forward-looking information', within the meaning of the applicable United States and Canadian legislation, concerning the business, operations and financial performance and condition of Denison.

Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes', or the negatives and/or variations of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur', 'be achieved' or 'has the potential to'.

In particular, this news release contains forward-looking information pertaining to the following: the planned scope, elements, and objectives of the 2021 ISR field programs, including the drilling of CSWs and MWs and development and objectives of the Test Pattern; other evaluation activities, including a planned future lixiviant test; the results of the PFS and expectations with respect thereto; expectations with respect to phased development, and the estimates of reserves in each such phase; other development and expansion plans and objectives, including plans for an environmental assessment and a feasibility study; and expectations regarding its joint venture ownership interests and the continuity of its agreements with its partners.

Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward-looking statements. For example, the modelling and assumptions upon which the work plans are based may not be maintained after further testing or be representative of actual conditions within the Phoenix deposit. In addition, Denison may decide or otherwise be required to discontinue its field test activities or other testing, evaluation and development work at Wheeler River if it is unable to maintain or otherwise secure the necessary resources (such as testing facilities, capital funding, regulatory approvals, etc.) or operations are otherwise affected by COVID-19 and its potentially far-reaching impacts. Denison believes that the expectations reflected in this forward-looking information are reasonable but no assurance can be given that these expectations will prove to be accurate and results may differ materially from those anticipated in this forward-looking information. For a discussion in respect of risks and other factors that could influence forward-looking events, please refer to the factors discussed in Denison's Annual Information Form dated March 26, 2021 or subsequent quarterly financial reports under the heading 'Risk Factors'. These factors are not, and should not be construed as being exhaustive.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking information contained in this news release is expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Mineral Resources and Probable Mineral Reserves: This press release may use the terms 'measured', 'indicated' and 'inferred' mineral resources. United States investors are advised that while such terms have been prepared in accordance with the definition standards on mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101 Mineral Disclosure Standards ('NI 43-101') and are recognized and required by Canadian regulations, these terms are not defined under Industry Guide 7 under the United States Securities Act and, until recently, have not been permitted to be used in reports and registration statements filed with the United States Securities and Exchange Commission ('SEC'). 'Inferred mineral resources' have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into mineral reserves. United States investors are also cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. In addition, the terms "mineral reserve", "proven mineral reserve" and "probable mineral reserve" for the purposes of NI 43-101 differ from the definitions and allowable usage in Industry Guide 7. Effective February 2019, the SEC adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the Exchange Act and as a result, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral resources". In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral reserves" to be "substantially similar" to the corresponding definitions under the CIM Standards, as required under NI 43-101. However, information regarding mineral resources or mineral reserves in Denison's disclosure may not be comparable to similar information made public by United States companies.

Figure 1: Plan Map Showing Location of Phoenix Deposit (Phase 1) – ISR Test Pattern

Figure 1: Plan Map Showing Location of Phoenix Deposit (Phase 1) – ISR Test Pattern (CNW Group/Denison Mines Corp.)Figure 1: Plan Map Showing Location of Phoenix Deposit (Phase 1) – ISR Test Pattern (CNW Group/Denison Mines Corp.)
Figure 1: Plan Map Showing Location of Phoenix Deposit (Phase 1) – ISR Test Pattern (CNW Group/Denison Mines Corp.)

Figure 2: Cross Section View of the Phoenix Deposit (Phase 1) – Through GWR-045 Showing Location of Mineralized Intersection Relative to Existing High-Grade Resource Domain

Figure 2: Cross Section View of the Phoenix Deposit (Phase 1) – Through GWR-045
Showing Location of Mineralized Intersection Relative to Existing High-Grade
 Resource Domain (CNW Group/Denison Mines Corp.)Figure 2: Cross Section View of the Phoenix Deposit (Phase 1) – Through GWR-045
Showing Location of Mineralized Intersection Relative to Existing High-Grade
 Resource Domain (CNW Group/Denison Mines Corp.)
Figure 2: Cross Section View of the Phoenix Deposit (Phase 1) – Through GWR-045 Showing Location of Mineralized Intersection Relative to Existing High-Grade Resource Domain (CNW Group/Denison Mines Corp.)
Denison mines PDF (CNW Group/Denison Mines Corp.)Denison mines PDF (CNW Group/Denison Mines Corp.)
Denison mines PDF (CNW Group/Denison Mines Corp.)
CisionCision
Cision

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SOURCE Denison Mines Corp.

CCJ earnings call for the period ending June 30, 2021.

LONDON, UK / ACCESSWIRE / July 28, 2021 / Anglo Pacific Group PLC ('Anglo Pacific', the 'Company' or the 'Group') (LSE:APF)(TSX:APY), is pleased to issue the following trading update. Unless otherwise stated, all unaudited financial information is for the quarter or half year ended 30 June 2021.

This update is ahead of the release of the full Group audited half year results on 25 August 2021.

Highlights

  • Portfolio contribution¹ for Q2 2021 of £9.4m, a 38.2% increase compared to £6.8m in Q1 2021, includes maiden deliveries under the Voisey's Bay stream following completion of the acquisition at the end of Q1 2021. The Group's Q2 2021 portfolio contribution has benefitted from 5 deliveries from the stream, and when combined with the 3 deliveries thus far in July 2021, the Group has realised total proceeds of US$4.0m (£2.8m)

  • Portfolio contribution of £16.2m in H1 2021 compared to £19.1m in H1 2020, reflects lower coking coal prices and volumes at both Kestrel and Narrabri, primarily in Q1 2021, but is offset by maiden contributions from the Group's Voisey's Bay stream of £1.7m

  • Coal prices in the earlier part of 2021 were impacted by the Chinese import ban on Australian coal – this position reversed in late Q2 2021, resulting in a more favourable outlook for H2 2021

  • Dividends from LIORC of C$2.75 per share declared in H1 2021 compared to C$0.80 per share in H1 2020 – benefitting from continued strong iron ore pricing throughout the first six months of 2021

  • Realised copper and vanadium prices were higher in the period which benefitted Mantos Blancos and Maracás Menchen revenue (the latter was impacted by a one-off off-take adjustment charge in H1 2020)

  • All the Group's producing assets are back in operation, following the recommencement of activities at the McClean Lake Mill after a period of COVID-19 related care and maintenance (as announced at the Group's Q1 2021 Trading Update)

  • Net debt of £78.7m at the end of June 2021 (£24.4m at the beginning of the year) reflecting the acquisition of the Voisey's Bay cobalt stream in Q1 2021

  • With ~US$29m of undrawn borrowings, ~US$39m residual position in LIORC and ~US$8.0m of treasury shares, the Group has financing flexibility of ~US$76m to finance further growth opportunities

Anglo Pacific expects H2 2021 to be stronger, in light of a rally in cobalt prices and the full effect of the Voisey's Bay stream being recognised in the Group's portfolio, strength in copper and iron ore prices and a recovery in the coal market, supported by the backdrop of strong infrastructure spending and continued anticipated demand for 21st century commodities

Julian Treger, Chief Executive Officer of the Company, commented:

'Anglo Pacific has had a stable first half of 2021, with 8 cobalt deliveries now processed under our Voisey's Bay stream which has generated cash to the end of July 2021 of US$4.0m. Voisey's Bay was a transformational acquisition during the period for Anglo, not only in terms of it being the Group's largest and most significant transaction to date, but also in terms of transitioning our portfolio towards 21st century commodities that support a more sustainable future. It is pleasing to see the stream operate smoothly and in line with our expectations.

While prices for our commodities were weaker in Q1 2021, they began to recover in Q2 2021.

In particular, cobalt prices are up ~20% in the last month and are higher than our Voisey's Bay investment case. In addition, both copper and iron ore have increased by over 20% year to date and our Mantos Blancos and LIORC revenues have benefitted from this.

It was also pleasing to see the coal markets turn during the second quarter, with coking coal now more than $200/t (from a low of ~$100/t) and thermal coal at ~$150/t, which should benefit our revenue in H2 2021. Infrastructure spending should continue to benefit iron ore, coking coal and copper whilst the longer-term fundamentals for cobalt and vanadium remain positive due to continued expected demand from electric vehicle and battery manufacturers.

Spot prices continue to remain higher than consensus prices in the near-term, and with our producing assets all in operation we expect a stronger performance from our portfolio in the second half of the year.

We look forward to updating the market in relation to our investment activity at the half year, and we remain busy advancing our pipeline in order to continue adding royalties and streams to our portfolio.'

For further information:

Anglo Pacific Group PLC

+44 (0) 20 3435 7400

Julian Treger – Chief Executive Officer
Kevin Flynn – Chief Financial Officer

Website:

www.anglopacificgroup.com

Berenberg

+44 (0) 20 3207 7800

Matthew Armitt / Jennifer Wyllie / Varun Talwar / Detlir Elezi

Peel Hunt LLP

+44 (0) 20 7418 8900

Ross Allister / Alexander Allen / David McKeown

RBC Capital Markets

Farid Dadashev / Marcus Jackson / Jamil Miah

+44 (0) 20 7653 4000

Camarco

+44 (0) 20 3757 4997

Gordon Poole / Owen Roberts / James Crothers

Notes to Editors
About the Company
Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.

1 Portfolio Contribution
Portfolio contribution represents funds received or receivable from the Group's underlying royalty and stream related assets which is taken into account by the Board when determining dividend levels.

Portfolio contribution is royalty and stream related revenue net of stream inventory purchase costs, plus royalties received or receivable from royalty financial instruments carried at FVTPL and principal repayments received under the Denison financing agreement.

Cautionary statement on forward-looking statements and related information
Certain statements in this announcement, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the Group's expectations and views of future events. Forward-looking statements (which include the phrase 'forward-looking information' within the meaning of Canadian securities legislation) include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts', or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, cash flow, requirement for and terms of additional financing, performance, prospects, opportunities, priorities, targets, goals, objectives, strategies, growth and outlook of the Group including the outlook for the markets and economies in which the Group operates, costs and timing of acquiring new royalties and making new investments, mineral reserve and resources estimates, estimates of future production, production costs and revenue, future demand for and prices of precious and base metals and other commodities, for the current fiscal year and subsequent periods.

Forward-looking statements are based upon certain material factors that were applied in drawing a conclusion or making a forecast or projection, including assumptions and analyses made by the Group in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. The material factors and assumptions upon which such forward-looking statements are based include: the stability of the global economy; the stability of local governments and legislative background; the relative stability of interest rates; the equity and debt markets continuing to provide access to capital; the continuing of ongoing operations of the properties underlying the Group's portfolio of royalties, streams and investments by the owners or operators of such properties in a manner consistent with past practice; no material adverse impact on the underlying operations of the Group's portfolio of royalties, streams and investments from a global pandemic; the accuracy of public statements and disclosures (including feasibility studies, estimates of reserve, resource, production, grades, mine life and cash cost) made by the owners or operators of such underlying properties; the accuracy of the information provided to the Group by the owners and operators of such underlying properties; no material adverse change in the price of the commodities produced from the properties underlying the Group's portfolio of royalties, streams and investments; no material adverse change in foreign exchange exposure; no adverse development in respect of any significant property in which the Group holds a royalty or other interest, including but not limited to unusual or unexpected geological formations and natural disasters; successful completion of new development projects; planned expansions or additional projects being within the timelines anticipated and at anticipated production levels; and maintenance of mining title.

A variety of material factors, many of which are beyond the Group's control, affect the operations, performance and results of the Group, its businesses and investments, and could cause actual results to differ materially from those suggested by any forward-looking information. Such risks and uncertainties include, but are not limited to current global financial conditions, royalty, stream and investment portfolio and associated risk, adverse development risk, financial viability and operational effectiveness of owners and operators of the relevant properties underlying the Group's portfolio of royalties, streams and investments, royalties, streams and investments subject to other rights, and contractual terms not being honoured, together with those risks identified in the 'Principal Risks and Uncertainties' section of our most recent Annual Report, which is available on our website. If any such risks actually occur, they could materially adversely affect the Group's business, financial condition or results of operations.

Forward-looking statements are provided for the purposes of assisting readers in understanding the Group's financial position and results of operations as at and for the periods ended on certain dates, and of presenting information about management's current expectations and plans relating to the future. Readers are cautioned that such forward-looking statements may not be appropriate other than for purposes outlined in this announcement. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions, that may be general or specific which could cause actual results to differ materially from those forecast, anticipated, estimated or intended in the forward-looking statements. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forward-looking statements made in this announcement relate only to events or information as of the date on which the statements are made and, except as specifically required by applicable laws, listing rules and other regulations, the Group undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. No statement in this communication is intended to be, nor should it be construed as, a profit forecast or a profit estimate.

This announcement also contains forward-looking information contained and derived from publicly available information regarding properties and mining operations owned by third parties. This announcement contains information and statements relating to the Kestrel mine that are based on certain estimates and forecasts that have been provided to the Group by Kestrel Coal Pty Ltd ('KCPL'), the accuracy of which KCPL does not warrant and on which readers may not rely.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Anglo Pacific Group PLC

View source version on accesswire.com:
https://www.accesswire.com/657363/Anglo-Pacific-Group-PLC-Announces-Half-Year-2021-Trading-Update

Centrus Energy Corp. (LEU) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2021. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This company is expected to post quarterly earnings of $0.27 per share in its upcoming report, which represents a year-over-year change of -91.5%.

Revenues are expected to be $47.5 million, down 37.3% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Centrus Energy Corp.

For Centrus Energy Corp.The Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Centrus Energy Corp. Will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Centrus Energy Corp. Would post a loss of $0.04 per share when it actually produced earnings of $0.33, delivering a surprise of +925%.

Over the last four quarters, the company has beaten consensus EPS estimates two times.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Centrus Energy Corp. Doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

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Centrus Energy Corp. (LEU) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Energy Resources of Australia (ASX:ERA) has had a great run on the share market with its stock up by a significant 26% over the last three months. We wonder if and what role the company's financials play in that price change as a company's long-term fundamentals usually dictate market outcomes. Specifically, we decided to study Energy Resources of Australia's ROE in this article.

Return on equity or ROE is a key measure used to assess how efficiently a company's management is utilizing the company's capital. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders.

See our latest analysis for Energy Resources of Australia

How Do You Calculate Return On Equity?

Return on equity can be calculated by using the formula:

Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity

So, based on the above formula, the ROE for Energy Resources of Australia is:

5.3% = AU$11m ÷ AU$215m (Based on the trailing twelve months to December 2020).

The 'return' is the amount earned after tax over the last twelve months. So, this means that for every A$1 of its shareholder's investments, the company generates a profit of A$0.05.

Why Is ROE Important For Earnings Growth?

So far, we've learned that ROE is a measure of a company's profitability. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features.

Energy Resources of Australia's Earnings Growth And 5.3% ROE

On the face of it, Energy Resources of Australia's ROE is not much to talk about. We then compared the company's ROE to the broader industry and were disappointed to see that the ROE is lower than the industry average of 12%. However, we we're pleasantly surprised to see that Energy Resources of Australia grew its net income at a significant rate of 24% in the last five years. We reckon that there could be other factors at play here. Such as – high earnings retention or an efficient management in place.

We then compared Energy Resources of Australia's net income growth with the industry and found that the company's growth figure is lower than the average industry growth rate of 35% in the same period, which is a bit concerning.

past-earnings-growthpast-earnings-growth
past-earnings-growth

Earnings growth is a huge factor in stock valuation. The investor should try to establish if the expected growth or decline in earnings, whichever the case may be, is priced in. By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. If you're wondering about Energy Resources of Australia's's valuation, check out this gauge of its price-to-earnings ratio, as compared to its industry.

Is Energy Resources of Australia Efficiently Re-investing Its Profits?

Given that Energy Resources of Australia doesn't pay any dividend to its shareholders, we infer that the company has been reinvesting all of its profits to grow its business.

Conclusion

In total, it does look like Energy Resources of Australia has some positive aspects to its business. That is, a decent growth in earnings backed by a high rate of reinvestment. However, we do feel that that earnings growth could have been higher if the business were to improve on the low ROE rate. Especially given how the company is reinvesting a huge chunk of its profits.

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

SASKATOON, SK, July 26, 2021 /CNW/ – IsoEnergy Ltd. ("IsoEnergy" or the "Company") (TSXV: ISO) (OTCQX: ISENF) is pleased to announce the Company's exploration plans for the 2021 program. Exploration work to be completed includes diamond drilling and ground geophysical surveying at Larocque East, diamond drilling at Geiger, and airborne geophysical surveying at Collins Bay Extension (Figure 1). Field crews have mobilized to the eastern Athabasca Basin area to begin the summer exploration program.

Tim Gabruch, Chief Executive Officer commented: "The IsoEnergy team is excited to get back to work in Northern Saskatchewan. The Saskatchewan Government has done an excellent job distributing vaccines and the situation in the province has markedly improved to the point where all remaining public health restrictions in Saskatchewan were lifted as of July 11th. IsoEnergy will continue to work responsibly in Northern Saskatchewan with the health and safety of our employees, contractors and Northern residents being our number one priority.

Our exploration focus will remain on our 100% owned Larocque East property and the Hurricane deposit in particular. With that said, we will also expand our summer drilling program by returning to our highly prospective Geiger property in line with IsoEnergy's strategy of delivering a portfolio in the eastern Athabasca Basin. Prior to purchasing Larocque East and discovering the Hurricane deposit, Geiger was a high priority target for IsoEnergy, and we look forward to returning to work there this summer."

Andy Carmichael, Vice President of Exploration commented: "With diamond drilling on two high priority projects, ground geophysics at Larocque East to develop additional drill targets, and airborne geophysics to map key structures at Collins Bay Extension, IsoEnergy has an exciting exploration season planned. We have been eager to return to the field to further delineate the Hurricane Zone and to explore other prospective targets the team has prioritized. Drilling at Geiger began over the weekend."

Larocque East: Diamond Drilling and Geophysics

IsoEnergy's focus remains on its 100% owned Larocque East project where a 53 line-kilometre DC-resistivity (DC-Res) survey was recently completed. Covering the fertile Larocque Lake trend from the eastern limit of the 2019 DC-Res survey to the eastern project boundary, the survey was designed to map conductive basement and identify zones of lower resistivity in the overlying sandstones possibly indicative of hydrothermal alteration. Interpretation of the survey results is underway. Figure 2 shows the 2021 DC-Res survey area in plan view.

A 30 drill hole, 12,000 metre diamond drilling campaign is planned at Larocque East beginning in August. Drilling has three objectives: Expansion; Infill; and Exploration. Twelve drill holes are planned to expand the footprint of the Hurricane zone and will include drilling at both the western and the eastern sides of the zone. Four infill drill holes are planned between existing drill fences to provide valuable information on the continuity of the higher-grade portions of the zone. Figure 3 shows the Expansion and Infill target areas in plan view. Fourteen exploration drill holes are planned in two target areas. The main target area is a three-kilometre-long section of the Larocque Lake trend where DC-resistivity signatures similar to that of Hurricane are present and historical drilling has intersected alteration, structures, graphitic basement, and anomalous geochemistry. The second target area includes trends of decreased resistivity in the sandstone and basement and is located southeast of and subparallel to the Hurricane zone stratigraphy. Figure 2 shows the exploration target areas in plan view.

Geiger: Diamond Drilling

Twelve diamond drill holes totalling 4,200 metres are planned at IsoEnergy's 100% owned Geiger project in July and August. Drilling will target the eastern portion of the project where historical drill holes intersected positive results. Of particular interest is the area near historical drill hole Q34-003 which intersected anomalous radioactivity within strongly altered basal sandstones above structured, geochemically anomalous, graphitic basement. Figure 4 shows the Geiger drilling area in plan view.

Collins Bay Extension: Airborne Surveying

An airborne Versatile Time-Domain Electromagnetic (VTEM) and spectrometer survey is planned at IsoEnergy's 100% owned Collins Bay Extension project in August. The 567 line-kilometre survey will cover the southwestern portion of the project and is intended to map the northeastern extensions of the Tent-Seal and Collins Bay trends and survey for radioactive anomalies. Figure 5 shows the airborne survey area.

Figure 1 – IsoEnergy Athabasca Basin Projects (CNW Group/IsoEnergy Ltd.)Figure 1 – IsoEnergy Athabasca Basin Projects (CNW Group/IsoEnergy Ltd.)
Figure 1 – IsoEnergy Athabasca Basin Projects (CNW Group/IsoEnergy Ltd.)
Figure 2 – Larocque East Exploration Drilling Areas and DC-Resistivity Survey Location (CNW Group/IsoEnergy Ltd.)Figure 2 – Larocque East Exploration Drilling Areas and DC-Resistivity Survey Location (CNW Group/IsoEnergy Ltd.)
Figure 2 – Larocque East Exploration Drilling Areas and DC-Resistivity Survey Location (CNW Group/IsoEnergy Ltd.)
Figure 3 – Larocque East Expansion and Infill Drilling Areas (CNW Group/IsoEnergy Ltd.)Figure 3 – Larocque East Expansion and Infill Drilling Areas (CNW Group/IsoEnergy Ltd.)
Figure 3 – Larocque East Expansion and Infill Drilling Areas (CNW Group/IsoEnergy Ltd.)
Figure 4 – Geiger Drilling Area (CNW Group/IsoEnergy Ltd.)Figure 4 – Geiger Drilling Area (CNW Group/IsoEnergy Ltd.)
Figure 4 – Geiger Drilling Area (CNW Group/IsoEnergy Ltd.)
Figure 5 – Collins Bay Extension VTEM Plus and Spectrometer Survey Area (CNW Group/IsoEnergy Ltd.)Figure 5 – Collins Bay Extension VTEM Plus and Spectrometer Survey Area (CNW Group/IsoEnergy Ltd.)
Figure 5 – Collins Bay Extension VTEM Plus and Spectrometer Survey Area (CNW Group/IsoEnergy Ltd.)

Qualified Person Statement

The scientific and technical information contained in this news release was prepared by Andy Carmichael, P.Geo., IsoEnergy's Vice President, Exploration, who is a "Qualified Person" (as defined in NI 43-101 – Standards of Disclosure for Mineral Projects). Mr. Carmichael has verified the data disclosed. This news release refers to properties other than those in which the Company has an interest. Mineralization on those other properties is not necessarily indicative of mineralization on the Company's properties. For additional information regarding the Company's Larocque East Project, including its quality assurance and quality control procedures, please see the Technical Report dated effective May 15, 2019, on the Company's profile at www.sedar.com.

About IsoEnergy

IsoEnergy is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada. The Company recently discovered the high-grade Hurricane Zone of uranium mineralization on its 100% owned Larocque East property in the Eastern Athabasca Basin. IsoEnergy is led by a Board and Management team with a track record of success in uranium exploration, development, and operations. The Company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.

Neither the TSX Venture Exchange nor its Regulations 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.

This news release shall not constitute an offer to sell or a solicitation of any offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referenced herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and such securities may not be offered or sold within the United States absent registration under the U.S. Securities Act or an applicable exemption from the registration requirements thereunder.

Forward-Looking Information

The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, planned exploration activities. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that the results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration activities, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, the limited operating history of the Company, the influence of a large shareholder, alternative sources of energy and uranium prices, aboriginal title and consultation issues, reliance on key management and other personnel, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, availability of third party contractors, availability of equipment and supplies, failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

IsoEnergy Ltd. Logo (CNW Group/IsoEnergy Ltd.)IsoEnergy Ltd. Logo (CNW Group/IsoEnergy Ltd.)
IsoEnergy Ltd. Logo (CNW Group/IsoEnergy Ltd.)

SOURCE IsoEnergy Ltd.

CisionCision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/26/c0888.html

Energy Fuels Inc. UUUU is expected to report second-quarter 2021 results soon.

Q2 Estimates

The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $5.5 million, indicating growth of 1,270% from the prior-year quarter. The consensus mark for bottom line is pegged at a loss of 4 cents, compared with a loss of 8 cents in the year-ago quarter. The estimates have remained stable over the past 30 days.

Q1 Results

In the last reported quarter, Energy Fuels reported revenues of $0.38 million, which declined 46% year over year and missed the Zacks Consensus Estimate of $0.55 million. The company reported first-quarter 2021 loss per share of 8 cents, wider than the Zacks Consensus Estimate of a loss per share of 5 cents. The uranium mining company had reported a loss of 5 cents in the prior-year quarter.

The company has a trailing four-quarter negative earnings surprise of 40%, on average.

Energy Fuels Inc Price and EPS Surprise

Energy Fuels Inc Price and EPS SurpriseEnergy Fuels Inc Price and EPS Surprise
Energy Fuels Inc Price and EPS Surprise

Energy Fuels Inc price-eps-surprise | Energy Fuels Inc Quote

Factors to Note

Energy Fuels has strategically opted not to enter into any uranium sales commitments in 2021. Consequently, its uranium production is expected to be added to existing inventories, which were anticipated to total between 720,000 pounds and 750,000 pounds at 2021-end. The company intends to hold this inventory until prices for uranium go up significantly. It is also holding on to its vanadium until spot prices spike from current levels.
It expects to sell finished vanadium product when justified into the metallurgical industry, as well as other markets that demand a higher-purity product, including the aerospace, chemical, and potentially the vanadium battery industries.

Meanwhile, the company has been pursuing new sources of revenues, including its emerging REE business, and new sources of alternate feed materials and new fee processing opportunities at the White Mesa Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices).

In response to the proposed establishment of the Uranium Reserve, the company is evaluating activities aimed toward increasing uranium production at all or some of its production facilities, including the currently operating White Mesa Mill, as well as the Nichols Ranch ISR Facility, the Alta Mesa ISR Facility, La Sal Complex and Pinyon Plain Mine. During 2021, the company expects to recover uranium at the White Mesa Mill from pond-returns and alternate feed materials. The company anticipates producing mixed REE carbonate from natural monazite ore during 2021, subject to successful ramp-up. Energy Fuel’s revenues for the quarter under review are likely to reflect fees for ore received from a third-party uranium mine.

On Oct 6, 2020, the company announced that it has repaid all of its debt — achieving debt free status for the first time since 2012. This is likely to have reduced interest expenses and thereby, might have favored margins in the second quarter. The company’s ongoing efforts to lower costs are likely to get reflected in the to-be-reported quarter’s bottom line.

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Energy Fuels this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here as you will see below.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: The Earnings ESP for Energy Fuels is 0.00%.

Zacks Rank: The company currently carries a Zacks Rank #3.

Price Performance

Zacks Investment ResearchZacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

Energy Fuel’s shares have soared 162.1% in the past year compared with the industry’s rally of 79.1%.

Stocks Poised to Beat Estimates

Here are some companies you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:

Olympic Steel, Inc. ZEUS has an Earnings ESP of +31.84% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

GrowGeneration Corp GRWG currently has a Zacks Rank #2 and an Earnings ESP of +31.58%.

Eastman Chemical Company EMN has an Earnings ESP of +0.90% and a Zacks Rank of 3 currently.

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Energy Fuels Inc (UUUU) : Free Stock Analysis Report

Eastman Chemical Company (EMN) : Free Stock Analysis Report

Olympic Steel, Inc. (ZEUS) : Free Stock Analysis Report

GrowGeneration Corp. (GRWG) : Free Stock Analysis Report

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Zacks Investment Research

VANCOUVER, BC / ACCESSWIRE / July 23, 2021 / AZARGA URANIUM CORP. (TSX:AZZ)(OTCQB:AZZUF)(FSE:P8AA) ("Azarga Uranium" or the "Company") is pleased to announce that further to an ordinary rebalance in the Solactive Global Uranium & Nuclear Components Total Return Index (the "Index"), the Company will be included in the Index composition for the Global X Uranium ETF. The ordinary rebalance of the Index will be implemented effective August 2, 2021 and occurs semi-annually.

With net assets of approximately US$640 million, the Global X Uranium ETF is the largest Exchange Traded Fund ("ETF") in the uranium sector and the Index tracks the price movements in shares of companies involved in uranium mining and the production of nuclear components.

Azarga Uranium is already included in the index composition for the North Shore Global Uranium Mining ETF and the Horizons Global Uranium Index ETF.

Blake Steele, Azarga Uranium President and CEO, stated: "We are pleased to be included in the Index composition for the Global X Uranium ETF. This is an important milestone for the Company and recognizes our continued efforts to build shareholder value. Investor sentiment towards nuclear energy has markedly improved in 2021 and uranium ETFs have experienced significant capital inflows as a result. Our Company is well positioned to benefit from the strengthening uranium market, as we continue to advance our two tier one development stage in-situ recovery uranium projects in the USA, the Dewey Burdock and Gas Hills Projects."

About Azarga Uranium Corp.
Azarga Uranium is an integrated uranium exploration and development company that controls ten uranium projects and prospects in the United States of America ("USA") (South Dakota, Wyoming, Utah and Colorado), with a primary focus of developing in-situ recovery uranium projects. The Dewey Burdock in-situ recovery uranium project in South Dakota, USA (the "Dewey Burdock Project"), which is the Company's initial development priority, has received its Nuclear Regulatory Commission License and Class III and Class V Underground Injection Control permits from the Environmental Protection Agency and the Company is in the process of completing other major regulatory permit approvals necessary for the construction of the Dewey Burdock Project.

For more information please visit www.azargauranium.com.

Follow us on Twitter at @AzargaUranium.

For further information, please contact:
Blake Steele, President and CEO
+1 605 662-8308
E-mail: info@azargauranium.com

Disclaimer for Forward-Looking Information
Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, "forward-looking statements"), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements may include, but are not limited to, statements with respect to the future financial or operating performance of the Company and its mineral projects, the Company being well positioned to benefit from the strengthening uranium market and the Company being in the process of completing regulatory permit approvals necessary for the construction of the Dewey Burdock Project. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Azarga Uranium will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: the risk that the Company is not well positioned to benefit from the strengthening uranium market, the risk that the Company does not advance or complete regulatory permit approvals necessary for the construction of the Dewey Burdock or Gas Hills Projects, the risk that such statements may prove to be inaccurate and other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Azarga Uranium assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the most recent AIF filed with Canadian security regulators.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

SOURCE: Azarga Uranium Corp.

View source version on accesswire.com:
https://www.accesswire.com/656757/Azarga-Uranium-Included-in-Index-Composition-for-Global-X-Uranium-ETF

Just because a business does not make any money, does not mean that the stock will go down. For example, although software-as-a-service business Salesforce.com lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly.

Given this risk, we thought we'd take a look at whether GoviEx Uranium (CVE:GXU) shareholders should be worried about its cash burn. In this article, we define cash burn as its annual (negative) free cash flow, which is the amount of money a company spends each year to fund its growth. The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'.

See our latest analysis for GoviEx Uranium

Does GoviEx Uranium Have A Long Cash Runway?

A company's cash runway is calculated by dividing its cash hoard by its cash burn. When GoviEx Uranium last reported its balance sheet in March 2021, it had zero debt and cash worth US$11m. Importantly, its cash burn was US$4.0m over the trailing twelve months. That means it had a cash runway of about 2.7 years as of March 2021. Arguably, that's a prudent and sensible length of runway to have. Depicted below, you can see how its cash holdings have changed over time.

debt-equity-history-analysisdebt-equity-history-analysis
debt-equity-history-analysis

How Is GoviEx Uranium's Cash Burn Changing Over Time?

Because GoviEx Uranium isn't currently generating revenue, we consider it an early-stage business. So while we can't look to sales to understand growth, we can look at how the cash burn is changing to understand how expenditure is trending over time. Over the last year its cash burn actually increased by 3.5%, which suggests that management are increasing investment in future growth, but not too quickly. That's not necessarily a bad thing, but investors should be mindful of the fact that will shorten the cash runway. GoviEx Uranium makes us a little nervous due to its lack of substantial operating revenue. We prefer most of the stocks on this list of stocks that analysts expect to grow.

How Easily Can GoviEx Uranium Raise Cash?

While its cash burn is only increasing slightly, GoviEx Uranium shareholders should still consider the potential need for further cash, down the track. Issuing new shares, or taking on debt, are the most common ways for a listed company to raise more money for its business. Many companies end up issuing new shares to fund future growth. By comparing a company's annual cash burn to its total market capitalisation, we can estimate roughly how many shares it would have to issue in order to run the company for another year (at the same burn rate).

GoviEx Uranium has a market capitalisation of US$96m and burnt through US$4.0m last year, which is 4.2% of the company's market value. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.

So, Should We Worry About GoviEx Uranium's Cash Burn?

It may already be apparent to you that we're relatively comfortable with the way GoviEx Uranium is burning through its cash. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. Although its increasing cash burn does give us reason for pause, the other metrics we discussed in this article form a positive picture overall. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. On another note, we conducted an in-depth investigation of the company, and identified 5 warning signs for GoviEx Uranium (1 makes us a bit uncomfortable!) that you should be aware of before investing here.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies insiders are buying, and this list of stocks growth stocks (according to analyst forecasts)

This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

Wall Street expects a year-over-year increase in earnings on higher revenues when Energy Fuels (UUUU) reports results for the quarter ended June 2021. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus Estimate

This uranium and vanadium miner and developer is expected to post quarterly loss of $0.04 per share in its upcoming report, which represents a year-over-year change of +50%.

Revenues are expected to be $5.48 million, up 1270% from the year-ago quarter.

Estimate Revisions Trend

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings Whisper

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model — the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Energy Fuels?

For Energy Fuels, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination makes it difficult to conclusively predict that Energy Fuels will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?

While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Energy Fuels would post a loss of $0.05 per share when it actually produced a loss of $0.08, delivering a surprise of -60%.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom Line

An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Energy Fuels doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

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Energy Fuels Inc (UUUU) : Free Stock Analysis Report

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Zacks Investment Research

Company Executives share vision and answer questions live at VirtualInvestorConferences.com

NEW YORK, July 22, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Green Energy and Precious Metals Investor Conference on July 27th, 28th & 29th. Individual investors, institutional investors, advisors, and analysts are invited to listen to the executive management of green energy and precious companies discuss their property positions, development schedules, market opportunity, and investment highlights.

July 27th agenda focuses on companies representing exploration, development and production of various metals and minerals that are crucial elements of the power supply chain for the emerging "Green Power" infrastructure. Presenting companies include Uranium, Cobalt, Graphite, Lithium, Manganese, Nickel and Rare Earth entities.

July 28th and 29th agenda includes a roster of Base and Precious Metals companies including Gold, Silver, Copper and Zinc entities. The program opens at 8:45 AM ET, with the first webcast at 9:00 AM ET on Tuesday, July 27th.

REGISTER NOW AT: https://bit.ly/3yWGWaE

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations or ask questions.

"OTC Markets is excited to host the three-day Green Energy and Precious Metals Investor Conference co-sponsored by Murdock Capital and TAA Advisory," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "We are proud to feature an expansive roster of companies spearheading exploration, development and production in this sector. We welcome the contributions of our keynote speakers Byron King, Editor, Agora Financial-St. Paul Research and Raymond McCormick, Managing Director, Capstone Partners."

July 27th Agenda:

Eastern
Time (ET)

Presentation

Ticker(s)

9:00 AM

Byron King, Editor, "Whiskey & Gunpowder", Agora Financial-St. Paul Research
"The Revenge of High School Chemistry"

9:30 AM

Appia Energy Corp.

(OTCQB: APAAF | CSE: API)

10:00 AM

Thor Mining PLC

(OTCQB: THORF | ASX: THR | AIM: THR)

10:30 AM

Renforth Resources Inc.

(OTCQB: RFHRF | CSE: RFR)

11:00 AM

Ion Energy Ltd.

(OTCQB: IONGF | TSX-V: ION)

11:30 AM

Baselode Energy Corp.

(OTCQB: BSENF | TSX-V: FIND)

12:00 PM

Raymond M. McCormick, Managing Director, Energy & Natural Resources, Capstone Partners

"An Investment Banker's Perspective of the Uranium Industry"

12:30 PM

Blue Sky Uranium Corp.

(OTCQB: BKUCF | TSX: BSK)

1:00 PM

Energy Fuels Inc.

(NYSE American: UUUU | TSX: EFR)

1:30 PM

Euro Manganese Inc.

(OTCQX: EUMNF | TSX-V: EMN)

2:00 PM

Silver Elephant Mining Corp

(OTCQX: SILEF | TSX-V: ELEF)

2:30 PM

Commerce Resources Corp.

(OTCQX: CMRZF | TSX-V: CCE)

3:00 PM

First Cobalt Corp.

(OTCQX: FTSSF | TSX-V: FCC)

3:30 PM

Nouveau Monde Graphite Inc.

(NYSE: NMG | TSX-V: NOU)

4:00 PM

Giga Metals Corp.

(OTCQB: HNCKF | TSX-V: GIGA)

4:30 PM

Nova Royalty Corp.

(OTCQB: NOVRF | TSX-V: NOVR)

July 28th Agenda

Eastern
Time (ET)

Presentation

Ticker(s)

9:30 AM

Lion One Metals Ltd.

(OTCQX: LOMLF | TSX-V: LIO)

10:00 AM

Starcore International Mines Ltd.

(OTCQB: SHVLF | TSX: SAM)

10:30 AM

Newcore Gold Ltd.

(OTCQX: NCAUF | TSX-V: NCAU)

11:00 AM

Arizona Metals Corp.

(OTCQX: AZMCF | TSX-V: AMC)

11:30 AM

Barksdale Resources Corp.

(OTCQX: BRKCF | TSX-V: BRO)

12:00 PM

Ridgeline Minerals Corp.

(OTCQX: RDGMF | TSX-V: RDG)

12:30 PM

Liberty Gold Corp.

(OTCQX: LGDTF | TSX: LGD)

1:00 PM

Outback Goldfields Corp.

(OTCQB: OZBKF | CSE: OZ)

1:30 PM

Karora Resources Inc.

(OTCQX: KRRGF | TSX: KRR)

2:00 PM

Empress Royalty Corp.

(OTCQB: EMPYF | TSX-V: EMPR)

2:30 PM

Bunker Hill Mining Corp.

(Pink: BHLL | CSE: BNKR)

3:00 PM

Vior Inc.

(TSX-V: VIO)

3:30 PM

Kodiak Copper Corp.

(OTCQB: KDKCF | TSX-V: KDK)

4:00 PM

Heliostar Metals Ltd.

(OTCQX: HSTXF | TSX-V: HSTR)

4:30 PM

Honey Badger Silver Inc.

(Pink: HBEIF| TSX-V: TUF)

July 29th Agenda:

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Time (ET)

Presentation

Ticker(s)

9:30 AM

Tinka Resources Ltd.

(OTCQB: TKRFF | TSX-V: TK)

10:00 AM

Salazar Resources Ltd.

(OTCQB: SRLZF | TSX-V: SRL)

10:30 AM

Stratabound Minerals Corp.

(OTCQB: SBMIF | TSX-V: SB)

11:00 AM

KORE Mining Ltd.

(OTCQX: KOREF | TSX-V: KORE)

11:30 AM

Fabled Silver Gold Corp.

(OTCQB: FBSGF | TSX-V: FCO)

12:00 PM

Element 29 Resources Inc.

(OTCQB: EMTRF| TSX-V: ECU)

12:30 PM

Canada Nickel Company Inc.

(OTCQB: CNIKF | TSX-V: CNC)

1:00 PM

Aztec Minerals Corp.

(OTCQB: AZZTF | TSX-V: AZT)

1:30 PM

Granite Creek Copper Ltd.

(OTCQB: GCXXF | TSX-V: GCX)

2:00 PM

Group Ten Metals Inc.

(OTCQB: PGEZF | TSX- V: PGE)

2:30 PM

Metallic Minerals Ltd.

(OTCQB: MMNGF | TSX-V: MMG)

3:00 PM

Imperial Mining Group Ltd.

(OTCQB: IMPNF | TSX-V: IPG)

3:30 PM

Defiance Silver Corp.

(OTCQX: DNCVF | TSX-V: DEF)

4:00 PM

Orezone Gold Corp.

(OTCQX: ORZCF | TSX-V: ORE)

4:30 PM

GoldSpot Discoveries Corp.

(OTCQX: SPOFF | TSX-V: SPOT)

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CisionCision
Cision

View original content: http://www.newswire.ca/en/releases/archive/July2021/22/c0213.html

VANCOUVER, British Columbia, July 22, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that partner company Valor Resources Limited (“Valor”) has received the results and interpretation from the airborne magnetic and very low frequency electromagnetic (VLF-EM) geophysical survey completed over the Hook Lake Project in April. The purpose of the survey was to gather data that would help identify areas of shallow structural complexity, known to be favorable for the deposition of uranium in basement lithologies, and determine the geophysical signature of known occurrences.

Hook Lake (Formally North Falcon) Project
https://skyharbourltd.com/_resources/projects/Falcon-Point-Project.jpg

The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Skyharbour signed a Definitive Agreement with Valor Resources on the Hook Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance of 233,333,333 shares of Valor.

Highlights:

  • Airborne geophysical survey reinforces size potential of historic uranium occurrences and highlights additional targets across the Hook Lake Project:

    • Both the VLF-EM and Magnetic data confirm extensive NE-SW trending structural features as well as N-S trending structures

    • Data confirms known uranium showings are situated where these structural trends intersect and in close association with shallow VLF-EM conductors

    • The N-S structural features may represent the influence of the Tabbernor Fault System, a major structural feature associated with known uranium deposits in the eastern Athabasca Basin

    • “Heat maps” illustrating structural complexity highlighted additional areas for follow-up work

  • Field work set to commence very shortly at the Hook Lake Project to follow up new targets and historic uranium occurrences

  • Work approvals received including approval for drilling

  • Radiometric survey has commenced with coverage of the northeastern third of the Hook Lake Project and will be completed by the end of July

Figure 1: Hook Lake Project – VLF-EM image showing priority target areas
https://www.skyharbourltd.com/_resources/maps/Hook-Lake-VLF-EM.jpg

Valor Executive Chairman, Mr. George Bauk commented: “The survey has confirmed the key targets for immediate follow up and has provided data to verify additional targets for drilling. Significant new geological information has come out of the survey including the N-S structural features, possibly representing the Tabbernor Fault System. These results have exceeded our expectations with the number of target areas to follow up. We have secured all permits that allow us to follow up on the ground, including drilling, which we are targeting for the December quarter. The field crew will be mobilising to site July 23rd, 2021. The company is excited to be commencing field work in Saskatchewan and looks forward to the results of the exploration effort at Hook Lake.”

Airborne Magnetic and VLF-EM Survey:

A project-wide, high-resolution, magnetic and VLF-EM survey was completed in April. The 5,172-line km survey was completed by Precision Geosurveys of Langley, British Columbia, using a fixed wing aircraft at a line spacing of 75m. The purpose of the survey was to gather data that would help identify areas of shallow structural complexity, known to be favorable for the deposition of uranium in basement lithologies, and determine the geophysical signature of known occurrences.

Geophysical Data Interpretation:

The geophysical data confirms extensive and complex structural trends across the property that could indicate structural and/or lithological traps for uranium mineralisation. Both the magnetic and VLF-EM data show a strong NE-SW structural trend similar to that present in other basement-hosted uranium deposits in the eastern Athabasca Basin area. A significant N-S structural trend is also present that has features similar to those associated with the Tabbernor Fault System.

Several of the known in-situ uranium occurrences on the property (Hook Lake, Nob Hill and West Way – see news release dated October 22nd, 2020) are coincident with the intersection of these structural trends. The most significant uranium occurrences within the property also appear to have a close association with shallow VLF-EM conductors (see Figure 1 above). Several other conductors, that have previously seen little exploration and have no known nearby occurrences, also represent excellent prospects for follow-up exploration.

The magnetic data shows the Hook Lake mineralisation, with high grade surface outcrop with reported grades in grab samples up to 68% U3O8, may be part of a larger and broader anomalous zone than originally thought. 3D Inversion of the magnetic data indicates a potential feeder system coming up through the stratigraphy.

Tabbernor Fault System:

The presence of a N-S structural influence similar to that recognised in the Tabbernor Fault System could be an important feature on the Hook Lake property. The Tabbernor Fault System is a wide structural feature that runs N-S for over 1,500 km along Saskatchewan’s eastern provincial border. While there is no direct link between the Tabbernor system and current known uranium deposits, several deposits are associated with a N-S structural component within the sphere of influence of the Tabbernor system. It has been proposed that reactivation of the Tabbernor Fault System coincided with the formation of large uranium deposits in the Athabasca Basin and the Tabbernor system may have controlled deposit location. Deposits exhibiting N-S structural control, with features consistent with the Tabbernor system include Rabbit Lake (Collins Bay B Zone and Eagle Point), Dawn Lake, Midwest and the Sue deposit (reference Davies, J.R. (1998): The origin, structural style, and reactivation history of the Tabbernor fault zone, Saskatchewan, Canada; Masters thesis, McGill University, Montreal, Quebec, 105p.).

Airborne Radiometric Survey:

A high-resolution airborne radiometric survey is being flown over the northeastern third of the Hook Lake Project, which will include the Hook Lake historical high grade uranium occurrence. The survey is being flown by Special Projects Inc. (“SPI”) from Calgary, Alberta. SPI is considered an industry-leading provider of high-resolution airborne radiometric surveying. SPI flew the radiometric survey that delineated Fission Uranium’s PLS boulder field which eventually led to the discovery of the high-grade Triple R uranium deposit.

Any significant new radiometric anomalies generated from this survey will be followed up on ground during the upcoming field program.

Ground Field Work Program:

Valor has received the required work permits to carry out its follow-up ground exploration program on the Hook Lake project. The permits, issued by Saskatchewan Ministry of Environment include Crown Land Work Authorization and Forest Product Permit, Aquatic Habitat Protection Permit, and Temporary Work Camp Permit. They allow Valor to conduct ground exploration, including drilling, until the end of 2022.

Field work is set to commence in the next few days at the Hook Lake Project to follow-up on the historic uranium occurrences and new targets generated from the recently completed magnetic/VLF-EM survey. A field crew supported by a helicopter is being mobilised to the area to carry out a field program which will take 2-3 weeks.

The initial field work program will be conducted by Dahrouge Geological Consulting Ltd. Dahrouge Geological is a North American mineral exploration, consulting, and project management group with offices in Canada and the United States. They provide professional geological, logistical, and project management services to the world’s mining and mineral resource industry including project generation, program design, geophysics, project evaluation, geology & resources, as well as mine engineering and geotechnics. Dahrouge Geological has extensive exploration experience in Saskatchewan’s Athabasca Basin, with a consistent presence in the area since the early 2000’s; this experience and network of contacts makes Dahrouge Geological an ideal team to lead the exploration program on the Hook Lake Project.

About Hook Lake (previously North Falcon Point) Project:

Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralisation including:

  • Hook Lake / Zone S – High grade surface outcrop with reported grades in grab samples up to 68% U3O8; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast

  • Nob Hill – Fracture-controlled vein-type uranium mineralisation on surface outcrop with up to 0.130% – 0.141% U3O8 in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 m

  • West Way – Vein type U mineralisation within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U3O8 and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & Pb

  • Grid T – Fracture-hosted secondary uranium mineralisation in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm U

  • Alexander Lake Boulder Field – 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectively

  • Thompson Lake Boulder Field – Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulder

  • NE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni

The project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area.

Qualified Person:

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 Director, as well as a Qualified Person.

About Valor Resources Ltd:

Valor Resources Limited (ASX: VAL) is an exploration company focused on creating shareholder value through acquisitions and exploration activities.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 240,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 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 that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties 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 South Falcon 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%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

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:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

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.

On July 7, Energy Fuels Inc. made its first regular shipment of a rare earth carbonate called monazite from the United States to Europe.

The metal started in a mine in southern Georgia, then was shipped to a Utah processing plant and finally to a rare earth elements separation facility in Estonia.

The 20-ton shipment created a new U.S.-to-Europe rare earth supply chain, and is one of only two current U.S. operations producing and selling processed rare earth metals.

"We didn't even know we had a role to play in the industry until probably a year and a half ago," Curtis Moore, vice president of marketing and corporate development for Energy Fuels, told FreightWaves.

"We learned that there's this mineral called monazite, which is very high in magnetic rare earth elements — that's neodymium, praseodymium, dysprosium and terbium — which are the raw materials you need for these permanent rare earth magnets used in everything from electric cars to fighter jets."

Lakewood, Colorado-based Energy Fuels (NYSE: UUUU), a uranium mining company founded in 1987, is one of several companies making recent moves in the U.S. rare earth market. Another is Lynas Corp. (ASX: LYC), an Australian rare earths company, which recently received a $30.4 million federal grant to open the first rare earths separation facility in the U.S.

"We are currently in the planning phase for our proposed integrated U.S. rare earth processing facility, for both light rare earths and heavy rare earths processing and rare earth specialty materials," Lynas officials said in an email to FreightWaves.

Prior to Energy Fuels' shipment of monazite to Estonia, the U.S. had only one big operational rare earths mine, in Mountain Pass, California. Molycorp, which owned the mine and was the only rare earths producer in the country, went bankrupt and closed in 2015.

Last November, the U.S. Department of Defense supported the resumption of mining at Mountain Pass by funding $9.6 million to MP Materials, a private equity-backed company, to restart excavations. Once mined, the rare earth elements must be sent to China for processing.

Lynas hopes to alter that dynamic.

"Rare earth separation capability has been absent from the U.S. for several years, and our proposed facility will provide a secure, domestic source of high-quality separated rare earth materials," Lynas said.

The small Texas town of Hondo — where Lynas plans to build its separation facility — is 43 miles west of San Antonio. Lynas' proposed facility will receive rare earth processed "feedstock" from the company's Mount Weld mine in western Australia.

"We will follow proper processes and procedures before we finalize our construction plans. Once planning and permitting are completed, we expect the facility could be operational in 2-3 years," Lynas said.

The moves by Energy Fuels and Lynas Corp. come at a time when the Biden administration has made it a priority to rejuvenate the U.S. as a player in the production of rare earth materials, thereby reducing the reliance on China for critical rare earth supplies.

China has dominated mining and production of rare earth since the 1980s, accounting for 80% ($110 million) of U.S. imports in 2020, according to the U.S. Geological Survey.

Processed rare earth metals are a group of 17 elements used in almost all modern technology, including smartphones, X-ray machines, turbine blades, flat-screen TVs and computer monitors, hybrid and electric vehicles, along with U.S. military weapons such as guided-missiles and F-35 fighter jets.

Rare Earth Elements And Their Applications

Lanthanum

Optical glass, hydride batteries

Cerium

Colored glass (flat-panel displays), auto catalytic converters

Praseodymium

Strong magnets, metal alloys, specialty glass, lasers

Neodymium

Permanent magnets

Samarium

Permanent magnets, nuclear reactor controls rods, lasers

Europium

Optical fibers, visual displays, lighting

Gadolinium

Shielding in nuclear reactors, X-ray and MRI systems

Terbium

Visual displays, fuel cells, lighting

Dysprosium

Permanent magnets, lighting

Holmium

Lasers, strong magnets, glass coloring

Erbium

Glass coloring, fiber optic cables

Thulium

Lasers, portable X-ray machines

Ytterbium

Stainless steel, lasers

Lutetium

Petroleum refining

Yttrium

Metal alloys, visual displays, lasers, lighting

Scandium

Metal alloys for aerospace equipment

Promethium

Portable X-ray devices, batteries

Rare earth elements are actually not all that rare, they are just difficult and expensive to extract and process. They also need to be found in clusters dense enough to mine. There are an estimated 2.7 million metric tons of rare earth reserves in the U.S. and more than 15 million metric tons in Canada.

China is home to about 40% of the world's rare earth reserves (44 million metric tons), but more importantly has the technology and refining capacity to handle vast quantities of rare earth elements. That dominance creates security concerns for U.S. officials.

"Anything we can do to reduce the global/U.S. dependency of rare earth elements on China is a big deal," Prakash B. Malla, director of research and development at the Thiele Kaolin Co., told FreightWaves.

Sandersville, Georgia-based Thiele Kaolin is a mining and metals exporter that offers kaolin and silica products. Kaolin and silica can be used in paper, ceramics, plastics, paint manufacturing, food additives, and drugs and vitamins.

"In fact, we will want to have our own sources of these elements in the U.S. It is a national security issue," Malla said. "The lack of this would make us a hostage to China and other countries."

Besides China, other sources of rare earth imports for the U.S. in 2020 included Estonia, 5%, and Japan and Malaysia, at 4% each.

Ironically, the U.S. dominated rare earth mining and production for decades, spanning roughly from the 1940s to the late 1980s. One of the major reasons the U.S. outsourced rare earth processing to China was cost, according to several experts.

"Everything really came to an end in the 1980s, across all commodities, because ultimately China had arrived into the market with material that was obviously significant, vast amounts of material across all spectrums," said Lewis Black, president and CEO of Almonty Industries.

Almonty Industries is a Toronto-based global mining company focused primarily on tungsten mining. The company has mining operations in Spain, Portugal and South Korea.

"Cost was a factor, because obviously, the prices the Chinese offered were much lower in the 1980s than in the U.S. And most [U.S.] rare earth metal mining went out of business," Black said.

Black said another reason the U.S. government outsourced rare earth was that processes used throughout the 1940s to 1980s for getting the metals created harmful wastes.

"There was really no urge or enthusiasm to save the mining operations by the U.S. government because these operations, in terms of how they were operated from the 1940s and onward, there were no rules, they just needed the metals," Black said. "So you had all kinds of environmental issues and pollution of rivers and forests. It was a terrible, terrible time. Politically, there was no will to really save that industry."

Aaron Mintzes, senior policy counsel at environmental group Earthworks, said the U.S. still doesn't have the world's best record "when it comes to the regulation of hard rock mining."

"You can tell because of all the exemptions the mining industry enjoys from what we think of as our bedrock environmental laws that don't apply to hard rock mining," Mintzes said.

Some of the exemptions mining companies use are embedded in laws such as the Clean Water and the Resource Conservation and Recovery acts, the latter of which manages wastes, as well as other federal environmental laws, Mintzes said.

He also said there are organizations that work to create international supply chains in an environmentally and socially responsible manner.

"The Initiative for Responsible Mining Assurance (IRMA) is a third-party independent certification system for industrial scale hard rock mines, and soon for mineral processing and for exploratory mining as well," Mintzes said. "The reason why IRMA is different from other certification systems: Mining companies are on the board, labor people are on the board, indigenous people are on the board and mineral purchasers are on the board directing their suppliers to source more responsibly."

Raquel Dominguez, a policy associate at Earthworks, said instead of relying completely on mining, the U.S. could create a "circular economy" for rare earth metals by recycling batteries and focusing on new extraction techniques from existing waste.

"I think it's pretty obvious that in the long term, it makes a lot more environmental, fiscal, human-rights sense to not rely solely on just digging giant holes in the ground," Dominguez said. "It makes a lot more sense to put what we already have into some kind of recycling streams."

Lynas said its proposed plant in Texas, like the company's other global operations, will be designed to produce "ethical and environmentally-responsible products."

"Like other industrial operations, the process will produce by-products. The by-product material does not exhibit hazardous characteristics and will meet US standards," Lynas said.

Malla said recent investments by the U.S. government in rare earth mining — such as Lynas and Mountain Pass — are steps in the right direction.

"The U.S. needs to develop domestic sources of rare earths. Also, we invest in sustainable technologies for extraction, concentration and separation of rare earths," Malla said.

Once operational, Lynas' Hondo facility is expected to produce approximately 5,000 tons annually of light rare earths products, including 1,250 tons annually of the rare earth metals neodymium and praseodymium, which power some of the strongest types of rare earth magnets.

Lynas said the Hondo facility will serve the company's U.S. customers and "support the U.S. government's moves to strengthen the industrial base."

"U.S. industrial users currently source the vast majority of their materials from China producers. Lynas will provide these users with the option to source from a local producer," the company said. "Security of supply is an essential foundation for the renewal of downstream specialty metal making and permanent magnet manufacturing in the U.S."

Moore said Energy Fuels gets its sand ore from a mine in southern Georgia, which contains both the rare earth element monazite and naturally occurring uranium. The monazite sand ore is mined by ​​Chemours (NYSE: CC), and is processed by Energy Fuels in Utah.

"The monazite has uranium and thorium in it. It has been widely recognized as being a very valuable rare earth mineral, but because it was radioactive, it was all going to China, until we came along," Moore said.

Energy Fuels is sending its shipments of rare earth carbonates to a separation facility owned by Neo Performance Materials Inc. (OTCMKTS: NOPMF) in Sillamäe, Estonia.

Moore said the carbonates Energy Fuels mine and process are not dangerous.

"We work with low-level natural radioactive materials, not highly enriched stuff or anything like that. We started processing this monazite at our White Mesa Mill facility in Utah. We were able to produce a nice, intermediate rare earth product, this carbonate," Moore said.

The sand ore mined in Georgia is sent to Energy Fuels' Utah mill to be processed for monazite and uranium. The shipments are picked up by trucks and taken to Salt Lake City. The container is then put on railcars and shipped to the Port of Norfolk in Virginia. Then it is loaded on an ocean vessel and sent to Estonia for separation. The total travel time is about 40 days.

Like Lynas, Energy Fuels is exploring opening a separation facility in the U.S. to cut down on shipping costs and optimize profits. The company has hired a French consulting group to help Energy Fuels explore how to proceed.

"It makes a lot of sense to perform as many refining steps in one location as possible. That way, you're not shipping material all over the place," Moore said. "We're planning to install as many of these steps as possible at the White Mesa Mill in Utah."

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TSX Venture Exchange: BSK
Frankfurt Stock Exchange: MAL2
OTCQB Venture Market (OTC): BKUCF

VANCOUVER, BC, July 21, 2021 /CNW/ – Blue Sky Uranium Corp. (TSXV: BSK) (FSE: MAL2) (OTC: BKUCF), ("Blue Sky" or the "Company") is pleased to announce it has closed the 1st tranche of the non-brokered private placement (the "Private Placement") through the issuance of 8,713,750 units at a subscription price of $0.16 per unit for aggregate gross proceeds to the Company of $1,394,200. The Company announced the private placement on July 12, 2021.

Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.)Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.)
Blue Sky Uranium Corp. Logo (CNW Group/Blue Sky Uranium Corp.)

Each unit consists of one common share and one transferrable common share purchase warrant (the "Units"). Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.25 per share for two (2) years from the date of issue.

Finder's fees of $35,420 are payable in cash on a portion of the private placement to parties at arm's length to the Company. In addition, 221,375 non-transferable finder's warrants are being issued (the "Finder's Warrants"). Each Finder's Warrant entitles a finder to purchase one common share at a price of $0.25 per share for two (2) years from the date of issue, expiring on July 21, 2023.

Certain insiders of the Company have participated in the Private Placement for $7,200 in Units. Such participation represents a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid, exceed 25% of the Company's market capitalization.

The proceeds of the financing will be used for exploration programs on the Company's projects in Argentina and for general working capital.

This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period expiring on November 21, 2021.

About Blue Sky Uranium Corp.

Blue Sky Uranium Corp. is a leader in uranium discovery in Argentina. The Company's objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of surficial uranium deposits into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. Blue Sky has the exclusive right to properties in two provinces in Argentina. The Company's flagship Amarillo Grande Project was an in-house discovery of a new district that has the potential to be both a leading domestic supplier of uranium to the growing Argentine market and a new international market supplier. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"

_____________________________________
Nikolaos Cacos, President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

SOURCE Blue Sky Uranium Corp.

CisionCision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2021/21/c5577.html

Calgary, Alberta–(Newsfile Corp. – July 21, 2021) – New Stratus Energy Inc. (TSXV: NSE) ("New Stratus" or the "Corporation") is pleased to announce that it has closed the first tranche of the previously announced brokered private placement led by Canaccord Genuity Corp. (the "Lead Agent"), as lead agent and sole bookrunner, on behalf of a syndicate of agents comprised of Echelon Wealth Partners Inc. and Paradigm Capital Inc. (together with the Lead Agent, the "Agents"). Upon closing of the first tranche, the Corporation issued 29,464,374 units ("Units") of the Corporation at a price of $0.30 per Unit, for gross proceeds of $8.84 million (the "Offering"). Each Unit is comprised of one common share of the Corporation (a "Common Share") and one-half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant is exercisable for one Common Share at an exercise price of $0.45 for a period of 24 months from July 21, 2021. The Corporation expects to close a second and final tranche of the brokered private placement on or about July 29, 2021.

As consideration for services rendered in connection with the Offering, the Corporation paid to the Agents a commission in the amount equal to 8% of the gross proceeds of the Offering.

The Corporation intends to use the net proceeds from the Offering for development and exploration activities on its Colombian block, ‎VMM-18, the evaluation of other opportunities in its core assessment areas of Colombia, Ecuador, Peru and Venezuela, and general corporate purposes.

In accordance with applicable Canadian securities laws, all securities issued pursuant to the Offering will be subject to a four (4) month hold period ending November 22, 2021. The Offering remains subject to final approval from the TSX Venture Exchange.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Contact Information:

Jose Francisco Arata
Chief Executive Officer
jfarata@newstratus.energy

Wade Felesky
President
wfelesky@newstratus.energy

Mario Miranda
Chief Financial Officer
mmiranda@newstratus.energy

Forward-Looking Information

Certain information set forth in this press release constitutes "forward-looking statements" and "forward-looking information" under applicable securities laws. All information other than statements of historical fact are forward-looking statements. Some of the forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "intends", "projects", "plans", and similar expressions. This press release includes certain forward-looking statements concerning the Offering, including the expected closing date for the second tranche, and the use of the net proceeds, as well as management's objectives, strategies, beliefs and intentions. These statements are not guarantees of future performance. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, including, for example, the risks inherent in oil and gas exploration and production activities, volatility in commodity prices, changes in political conditions, competitive risks and the availability of financing. Such risks and uncertainties may cause the Corporation's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90878

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