Kraken Energy Corp C.UUSA

Significant opportunity for US uranium companies arises

[MarketMakerss]

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.

Full news release: https://krakenenergycorp.com/news/2023/kraken-energy-commences-drilling-at-harts-point-uranium-property-utah/

Posted on behalf of Kraken Energy Corp