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Kraken Energy Corp C.UUSA

Alternate Symbol(s):  UUSAF

Kraken Energy Corp. is a Canada-based energy company advancing its portfolio of high-grade uranium properties in the Unites States. The Company is advancing its 100%-owned Apex Uranium Property, located 280 kilometers (km) east from Reno, Nevada, which is recognized as Nevada's past-producing uranium mine. The Company has additionally entered into an option agreement to earn 100% of the Garfield Hills Uranium Property. The past-producing Garfield Hills Uranium Property covers 1,238 hectares (ha) and is located 19 km east of Hawthorne in Mineral County, Nevada. It has also recently staked the Huber Hills Uranium Property, located 136 km north of Elko, Nevada, which covers 1,044 ha and encompasses the historic Racetrack open pit mine. The Company has also entered into an option agreement to earn 75% of the Harts Point Uranium Property. The Harts Point Uranium Property covers 2,622 ha and is located 49 km northwest of Monticello in San Juan County, Utah.


CSE:UUSA - Post by User

Kraken Energy Corp
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Post by MarketMakersson Aug 01, 2023 6:25pm
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Post# 35567828

Significant opportunity for US uranium companies arises

Significant opportunity for US uranium companies arises
The US Senate has approved the establishment of a nuclear fuel program aimed at the domestic production of nuclear fuel to reduce dependence on Russia for enriched uranium. Coming at a time when uranium spot prices are rising, this is a significant opportunity for domestic uranium companies in the United States: https://twitter.com/quakes99/status/1684627083082043392?s=20

Kraken Energy (UUSA.c UUSAF) is one company standing to benefit from the nuclear program with valuable properties in key jurisdictions and strategic locations within the US. UUSA owns three high-grade and past-producing uranium projects including the Apex Mine, Nevada's largest past-producing uranium mine, and Huber Hills, Elko County's largest uranium past-producer with no modern exploration to date.

With 20 drill pad locations fully permitted and ~$5M cash on hand, UUSA recently began drilling at its Harts Point Uranium Property in Utah.

The drill program is focused on the uranium-bearing Chinle Formation host rock and will start by targeting 3 areas over a 5km strike length where historical oil and gas wells previously returned "off-scale" radioactivity.

Harts Point is situated in the world-class uranium jurisdiction located within the Colorado Plateau, which has been responsible for producing over 328 million pounds of U3O8 since the 1950s. Analogous to the Lisbon Valley Anticline which additionally hosted 17 large uranium mines that produced ~80 million pounds of U3O8, the project has significant potential.

Posted on behalf of Kraken Energy Corp

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