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Hatchet Uranium Corp. Partners with Skyharbour Resources to Expand Uranium Portfolio
Hatchet Uranium Corp. has announced a significant partnership with Skyharbour Resources Ltd., aimed at acquiring interests in five uranium projects located northeast of the Athabasca Basin in Saskatchewan, Canada. This strategic move is expected to enhance Hatchet's position in the burgeoning Canadian uranium exploration sector.
Key Takeaways
- Hatchet Uranium Corp. has signed agreements with Skyharbour Resources Ltd. to acquire interests in five uranium projects.
- The agreements include an 80% interest in the Highway Uranium Property and a 100% interest in three other projects.
- The total area covered by these projects is approximately 66,358 hectares, in addition to the 9,339 hectares of the Highway Property.
- The deal is seen as a significant step for Hatchet, backed by ValOre Metals Corp., which holds a 67.5% ownership interest in Hatchet.
Overview of the Agreement
The agreements allow Hatchet Uranium Corp. to acquire:
- 80% interest in the Highway Uranium Property (9,339 hectares).
- 100% interest in the Genie, Usam, and CBX/Shoe Uranium Projects (66,358 hectares), subject to a claw-back provision for Skyharbour.
Financial Terms of the Agreement
To secure the 80% interest in the Highway Property, Hatchet Uranium Corp. will undertake the following financial commitments over a three-year period:
| Payment Milestone | Cash Payments | Exploration Expenditures | Value of Shares Issued |
|---|---|---|---|
| On or before the first anniversary | $25,000 | $250,000 | $25,000 |
| On or before the second anniversary | $20,000 | $300,000 | $25,000 |
| On or before the third anniversary | $200,000 | $1,500,000 | $1,000,000 |
| Total | $245,000 | $2,050,000 | $1,050,000 |
Strategic Importance
Jim Paterson, Chairman and CEO of ValOre, expressed enthusiasm about the partnership, stating that it provides ValOre shareholders with increased exposure to the Canadian uranium exploration sector. He emphasized the importance of collaborating with Skyharbour, a recognized leader in the field, to advance a growing portfolio of projects in a region known for its mineral exploration potential.
Conclusion
This partnership marks a pivotal moment for Hatchet Uranium Corp. as it seeks to expand its footprint in the uranium market. With strong backing from ValOre and a strategic alliance with Skyharbour Resources, Hatchet is well-positioned to capitalize on the growing demand for uranium in the energy sector. The agreements not only enhance Hatchet's project portfolio but also signify a commitment to advancing exploration efforts in one of the world's most promising uranium regions.
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