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First American Uranium Inc C.URM


Primary Symbol: C.NIOB Alternate Symbol(s):  NIOMF

Metals & Mining Silver
First American Uranium Inc. is a mineral exploration company. It is focused on the acquisition and development of precious, base, and critical mineral assets. Its portfolio includes the Silver Lake property in British Columbia’s Omineca Mining Division and a land package in Quebec’s Grenville Province. The Quebec properties add exposure to rare earth elements, niobium, and nickel-copper occurrences, expanding its footprint into critical minerals that are strategically important for energy and defense applications. Its Silver Lake project is an exploration stage project over 30 kilometers (km) southeast of Houston, BC in the Omineca Mining Division. The property comprises eight contiguous mineral claims totaling over 1647.24 ha. Its Red Basin Uranium/Vanadium property is in Catron County, New Mexico, United States of America. The project, which consists of over 26 optioned lode claims totaling over 537 acres (217 ha), is 250 miles north of the only operating uranium mill in America.


CSE:NIOB - Post by User

First American Uranium Inc
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  • StockHawk1X
Post by StockHawk1on Aug 16, 2023 6:20pm
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Post# 35591921

URM Advances in Red Basin Project Acquisition

URM Advances in Red Basin Project Acquisition

First American Uranium Inc. (CSE: URM) has moved forward in its acquisition of the Red Basin Uranium/Vanadium Project by making option payments and issuing shares as a part of its agreement to acquire FirstAmerican Energy Fuels. 


As of the latest update, URM has acquired a 60% interest in FirstAmerican Energy Fuels.


FirstAmerican Energy Fuels is the entity that holds a 100% interest in the Red Basin mineral claims in New Mexico. 


The history of uranium and vanadium exploration in the Red Basin property is substantial. Past investigations in the area have produced assessments indicating a potential resource ranging from 1.6 to 6.5 million pounds of U3O8.


URM is set to secure full ownership of Red Basin this October. 


https://www.globenewswire.com/news-release/2023/08/14/2724331/0/en/First-American-Uranium-Makes-Option-Payment-and-Issues-Shares-Related-to-the-100-Acquisition-of-Uranium-Vanadium-Mineral-Claims-in-New-Mexico.html

 
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