” We are pleased to announce a transformative transaction with Denison, a clear leader in the uranium sector. Uranium prices have seen significant strength in recent years driven by the global demand for clean energy, which has been reinforced by supportive government policies and geopolitical events underscoring the need for reliable western uranium supply. The Athabasca Basin is recognized as one of the world’s leading uranium jurisdictions, with numerous producing mines and high-profile development projects. This collaboration will advance significant near-term exploration and development efforts across numerous high-quality exploration projects to maximize the properties’ potential for the benefit of both Foremost and Denison shareholders,” stated Foremost’s President and CEO, Jason Barnard. Further, Barnard added, “On behalf of the entire team, I’d like to warmly welcome David Cates to our Board. As Denison’s current President and CEO, Mr. Cates will be an invaluable member adding his extensive experience and a proven track record in the Canadian uranium mining space. As a junior explorer, having the support of Mr. Cates and Denison will provide Foremost a competitive advantage. We are confident that Foremost is entering a new chapter of growth, and enhanced outcomes, for the benefit of both companies’ shareholders. We look forward to working with Mr. Cates as we steer and support our Company’s expansion towards its goal of being a new leading uranium explorer in the Athabasca Basin .”
David Cates, President and CEO, commented, ” Denison is pleased to work with Foremost to enhance the potential for discovery on an excellent portfolio of uranium exploration properties that would otherwise receive little attention from Denison with our current focus on development and mining stage projects. We are impressed with Foremost’s leadership team and technical capabilities and are excited to see high-potential exploration work being carried out on these properties in the coming years.”
Transformational Transaction Covering High-Potential Uranium Properties
The project portfolio subject to the Option Agreement consists of 10 properties comprised of 45 claims covering an aggregate area of 332,378 acres (134,509 hectares) within the Athabasca Basin region of northern Saskatchewan (the ” Exploration Properties “), which is known for its prolific history of large high-grade uranium discoveries and operating mines—currently producing ~20% of the world’s primary uranium supply 1 . Many of the Exploration Properties are proximal to some of the world’s highest-profile uranium operations, such as the McClean Lake mill and Cigar Lake mine, and consist of projects at different stages of exploration, from grassroots exploration to those with significant historical exploration and drill-ready exploration targets.
Generally, the most prospective exploration ground in the eastern portion of the Athabasca Basin is proximal to the…
Read More: Saga Metals: Diversified Portfolio of Critical Mineral Assets in Canada’s