Kraken Energy Corp C.UUSA

UUSA expands Apex by 117 claims on 14.5km strike

[MarketMakerss]

Kraken Energy (UUSA.c UUSAF) has expanded its 100% owned Apex Uranium Property in Nevada by 117 contiguous claims located along the 14.5 km strike with a property-wide mineralized trend.

The newly staked claims, consisting of 2,401 total acres, bring the total property to 14,891 acres of contiguous claims and cover a continuous geophysical trend west of the Apex Uranium Mine at shallow interpreted overburden depth.

UUSA CEO Matthew Schwab:

"As we continue to progress drill permitting at Apex, we are excited to explore the newly outlined targets on BLM ground immediately west of the historic Apex Uranium Mine,"

To accurately determine target depths, UUSA plans to conduct passive seismic testing in Q4 2023, as well as additional airborne magnetic surveys which will tie into the existing property-wide coverage. Ongoing additional prospecting and radon surveying will continue through the summer and fall of 2023.

As Nevada's largest past-producing uranium mine, the Apex Project provides a significant opportunity for growth as the project was previously shut down before reaching its full potential due to the slowdown in demand and prices.

Positioned to capitalize on the nuclear program, UUSA's portfolio includes three other high-grade and past-producing uranium projects in key US jurisdictions:

1. Huber Hills: Elko County's largest uranium past-producer which has yet to undergo modern exploration to date
2. Harts Point: Situated within the prolific Colorado Plateau & analogous to the Lisbon Valley Anticline, host to 17 large uranium mines that have produced ~80 million pounds of U3O8
3. Garfield Hills: Past-producing property located in the tier 1 mining jurisdiction of Nevada

As governments worldwide continue to embrace nuclear power in the name of green energy, uranium has emerged as one of the best commodities trade and UUSA is well positioned to capitalize on the growth expected from this market.

For more information, refer to the full news release: https://krakenenergycorp.com/news/2023/kraken-energy-significantly-expands-project-size-at-the-apex-property-nevada/

Posted on behalf of Kraken Energy Corp