Vancouver, British Columbia–(Newsfile Corp. – November 29, 2023) – BASIN URANIUM CORP. (CSE: NCLR) (“Basin Uranium” or the “Company“) is pleased to announce it has engaged BRS Engineering (“BRS“) to complete a maiden NI 43-101 Resource Estimate (the “Resource“) for its flagship Chord Uranium Project (the “Property“) in South Dakota, USA. The Property is comprised of 3,677 contiguous acres and located approximately 5 miles southwest of enCore Energy Corp.’s (EU-NYSEAM) Dewey-Burdock development project. The Project has seen extensive historical drilling with over 1,000 holes drilled primarily by Union Carbide Corp. and is host to a significant historical resource (see March 3, 2023 press release). The Company has acquired all of the relevant historical exploration and drilling data which will be used by BRS to compile a resource, evaluate potential extraction methods, and guide future exploration.
“In the short time since acquiring the project, we have amassed a significant historical data set for Chord and the surrounding region in addition to expanding the claims to encompass the potential down gradient extension of mineralization from the October Jinx,” commented Mike Blady, CEO of Basin Uranium. “The next logical step for us is to both bring the resource to a current NI 43-101 standard and evaluating the resource from an in-situ recovery or ISR perspective. The majority of domestic uranium production is done through ISR which presents a much more environmentally friendly and less invasive production method.”
BRS, Inc. is an engineering and geology consulting corporation with expertise in mining and mineral exploration. Of particular note, it specializes in uranium exploration, mineral resource evaluation, mine design, feasibility, mine operations, and reclamation. It has completed numerous uranium projects including technical reports and feasibility studies for underground, open pit, ISR, and conventional uranium mills. Representative projects include technical reports and due diligence for project financing for conventional uranium projects including the Sheep Mountain and the JAB-RD open pit in Wyoming, the Cibola Project in New Mexico, the Coles Hill, Virginia open pit and underground mine, and numerous ISR uranium projects in Wyoming and Paraguay.
Douglas L. Beahm, P.E., P.G., the principal engineer at BRS, is a Qualified Person as defined in NI 43-101 with 40 years of professional and managerial experience. Mr. Beahm has a proven track record in a variety of mining and mine reclamation projects including surface and underground mining, heap leach recovery, ISR, and uranium mill tailings projects. Mr. Beahm’s experience includes coal, precious metals, and industrial minerals, but his emphasis throughout his career has been on uranium.
R. Tim Henneberry, PGeo (B.C.), a technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.
About Basin Uranium Corp.
Basin Uranium is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The company has two advanced-stage uranium projects located in the United States, namely the Chord project in South Dakota and the Wray Mesa project in the southeast, both of which have seen extensive historical exploration and are located in prospective development areas. The company also has the Mann Lake uranium project, located in the world-class Athabasca basin of Northern Saskatchewan, Canada, in addition to the CHG gold project in south-central British Columbia.
For further information, please contact Mr. Mike Blady or view the Company’s filings at www.sedar.com.
On Behalf of the Board of Directors
Chief Executive Officer
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
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