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.

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Kraken Energy Corp > Less dependency on foreign uranium supply necessary for US

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Post by MarketMakersson Mar 24, 2023 2:52pm

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Post# 35359222

Less dependency on foreign uranium supply necessary for US

With Russia-U.S. tensions worsening, the likelihood of a uranium export ban is increasing, making uranium a solid sector to be in ahead of the likely increase in prices.

Kraken Energy (UUSA.c UUSAF) is worth considering as they recently announced the intersection of additional elevated radioactivity over wide zones, expanding the mineralized footprint at Garfield Hills Uranium Property in Nevada.

Currently, the US nuclear power industry is dependent on cheap Russian uranium making it necessary for the US to ramp up domestic production and be less dependent on foreign supply. Nevada is perfectly strategically positioned for this based on its location and its unique geology making it the leading US producer of a range of minerals.

A total of 11 completed holes were drilled during the 2022/2023 program to confirm historical drilling and extend the mineralization at the Garfield Hills property, all of which returned wide zones of elevated radioactivity.

"The continued intersection of elevated radioactivity across drill targets at Garfield Hills combined with a 4 km strike of confirmed surface mineralization is highly encouraging as we continue to build the extent and potential of uranium resource potential on the property," stated CEO, Matthew Schwab. "With the known drilling area open in all directions and at depth, our team is eager to begin planning a follow-up Phase 2 drilling program at Garfield Hills for 2023."

Garfield Hills is one of three high-potential projects that UUSA has, all of which are located in the Tier 1 mining jurisdiction of Nevada, including the Apex Mine, Nevada's largest past-producing uranium mine where significant discovery potential still remains due to modern discovery methods, and is well situated to advance its current assets, maximize shareholder value and continue to build a top tier portfolio of uranium projects.

News release: https://krakenenergycorp.com/news/2023/kraken-energy-intersects-additional-elevated-radioactivity-over-wide-zones-expanding-mineralized-footprint-at-garfield-hills-uranium-property-nevada/

Posted on behalf of Kraken Energy Corp

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