Uranium Energy Corp Acquires Portfolio of Canadian Uranium Exploration Projects in Saskatchewan's Athabasca Basin from Rio Tinto Exploration Canada Inc.

Provided By CNW

Last update: Aug 22, 2023

NYSE American: UEC

CORPUS CHRISTI, Texas, Aug. 22, 2023 /CNW/ - Uranium Energy Corp (NYSE American: UEC), the "Company" or "UEC") is pleased to announce that the Company has closed a purchase agreement with Rio Tinto Exploration Canada Inc., a subsidiary of Rio Tinto Inc. ("Rio Tinto"), to acquire a portfolio of exploration-stage projects in the Athabasca Basin, Saskatchewan, Canada for $1,500,000 (CAD) (the "Transaction"). The Company has acquired a 60% equity stake in the Henday Lake joint venture ("Henday"), 100% of the Milliken project ("Milliken"), and a 50% equity stake in the Carswell joint venture project ("Carswell"). With this Transaction, UEC has added an additional 44,444 acres (17,986 Ha) of prospective ground in the Athabasca Basin (See Figure 1) to its existing portfolio of 1,091,639 acres (441,771 Ha).