14:33:38 EDT Fri 14 Jun 2024
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Troubadour Resources Inc (2)
Symbol TR
Shares Issued 15,116,134
Close 2024-02-13 C$ 0.09
Market Cap C$ 1,360,452
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Troubadour closes 100% acquisition of Monarch property

2024-02-15 12:34 ET - News Release

Mr. Blake Morgan reports


Troubadour Resources Inc. has closed its 100-per-cent acquisition of the high-grade Monarch uranium property in the Theon basin.

Blake Morgan, chief executive officer, states: "With the acquisition finally completed we can now move forward to aggressively explore and drill our high-grade uranium property. The team looks forward to closing our current private placement and getting boots onto the ground ASAP. We expect to have a new presentation and website out in the coming weeks that really showcases our uranium asset in one of the most active regions in the world."

About the property:

  • A significant boulder field has been previously defined, with up to 30 per cent uranium boulders discovered on the property.
  • Sits stratigraphically above the unconformity between the Thelon basin and the underlying metasediments basement.
  • The intersection of reactivated faults and unconformities is highly prospective for uranium deposits, as seen in properties like Cigar Lake, Key Lake.
  • Contiguous to Atha Energy Corp. in Nunavut.
  • Over $1-million worth of historical data to work with.

Terms of acquisition

The company will purchase 100-per-cent ownership of the Monarch uranium property for consideration of the issuance of 5.5 million common shares, and a cash payment of $35,000 upon closing.

About Troubadour Resources Inc.

Troubadour Resources a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The company is managed by an experienced team consisting of youthful and seasoned professionals with proven records as mine finders. The Texas gold property diversifies the company's commodity focus and complements Troubadour's Amarillo copper project located 10 kilometres south of the past-producing Brenda mine in Southern British Columbia and 35 km east of Kodiak Copper's MPD discovery.

We seek Safe Harbor.

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