16:10:36 EDT Wed 07 May 2025
Enter Symbol
or Name
USA
CA



North Shore Uranium Ltd
Symbol NSU
Shares Issued 36,830,960
Close 2024-09-30 C$ 0.06
Market Cap C$ 2,209,858
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North Shore Uranium receives Falcon exploration permit

2024-10-01 07:48 ET - News Release

Mr. Brooke Clements reports

NORTH SHORE URANIUM GRANTED FALCON EXPLORATION PERMIT

North Shore Uranium Ltd. has received a Crown land work authorization permit from the Saskatchewan Ministry of Environment. The permit covers the company's 55,700-hectare Falcon property at the eastern margin of the Athabasca basin in Northern Saskatchewan.

Under the permit, which expires on July 31, 2027, North Shore is authorized to conduct mineral exploration activities, including prospecting and ground geophysics, trail and drill site clearing, line cutting, the drilling of up to 75 exploration drill holes and the storage of drill core. While performing the exploration activities, the company is required to comply with existing regulations and the environmental conditions specified in the permit including reclamation of exploration sites and monitoring wildlife in the area. North Shore is also committed to engaging with local communities and addressing their concerns throughout the life of the project.

As reported by the company on SEpt. 17, 2024, North Shore is now prioritizing uranium exploration targets for future drill programs at Falcon. The target model is near-surface basement-hosted uranium mineralization which can be associated with electromagnetic conductor systems. To date, the company has identified 36 uranium targets at Falcon. The targets were selected based on the analysis of multiple datasets and interpretation by Condor North Consulting ULC, Earthfield Technologies Inc., TerraLogic Exploration Inc. and North Shore. The company's current goal is to select the top ten sites to choose from for the next drill program.

Brooke Clements, president and chief executive officer of North Shore, stated: "After our maiden drill program at Falcon this March, we are preparing for follow-up work related to our two new uranium discoveries and to evaluating new targets. We believe that Falcon, located at the eastern margin of the prolilfic Athabasca basin, is a great setting for a major new uranium discovery. We have multiple targets that require testing and we look forward to future exploration programs."

About North Shore Uranium Ltd.

The near-term business objective of North Shore Uranium is to become a major force in exploration for economic uranium deposits at the eastern margin of Saskatchewan's Athabasca basin, a Tier 1 jurisdiction for discovering new minable, high-grade uranium deposits. The company is working to achieve this objective by conducting exploration programs at its Falcon and West Bear properties and by evaluating opportunities to increase its portfolio of uranium properties.

Falcon is located 30 kilometres east of the former Key Lake uranium mine and the operating Key Lake uranium mill. It consists of 15 mineral claims; four of the claims comprising 12,791 hectares are 100 per cent owned by the company, and the remaining 11 claims totalling 42,908 hectares are subject to an option agreement with Skyharbour Resources Ltd. Under the terms of the option agreement, North Shore has the option to earn up to a 100-per-cent interest in the 11 claims by completing certain payments, exploration work and other commitments by October, 2026.

Qualified person

Brooke Clements, MSc, PGeol, a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, the president and chief executive officer of North Shore, has reviewed and approved the scientific and technical disclosure in this press release.

We seek Safe Harbor.

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