Atomic Minerals Corporation announces that the Company has temporarily paused the Phase I drill program at the Harts Point Uranium Property (“Harts Point” or the “Property”) in San Juan County, southeast Utah, at the request of the Bureau of Land Management (the “BLM”).
The Company anticipates being able to re-commence exploration at Harts Point shortly and remains committed to keeping shareholders up to date with the latest developments as it continues to explore this highly prospective region.
Mr. R. Tim Henneberry, P.Geo. (BC), is the “Qualified Person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and is responsible for the technical contents of this news release and has approved the disclosure of the technical information contained herein.
About the Harts Point Property
Harts Point is located in the center of the Colorado Plateau, referred to by some as “the Athabasca Basin of the US” and is 64 kilometers (“km”) (40 miles) north of the White Mesa Uranium Mill, the only fully licensed and operating conventional uranium mill in the United States. The Property consists of 324 lode mining claims on Bureau of Land Management ground that covers an area of 2,622 hectares (“ha”) (6,480 acres) with drill permits in place for up to 13 exploration drill holes.
Atomic Minerals has granted Kraken Energy the right to earn a 65% interest in Harts Point. Kraken Energy must complete US$1.5 million in exploration expenditures within 18 months and a further 10% interest to 75% by completing a further US2.0 million in exploration expenditures and issuing 2 million shares to Atomic Minerals within the next 30 months. Atomic Minerals retains a 2% Net Smelter Return Royalty which can be reduced to 1% through a US$5 million payment. Upon completion of 65% or 75% interest, a joint venture will be formed.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM. Led by a highly skilled management and technical team with a proven track record in the junior mining sector, we have a history of successful achievements. Our core objective at Atomic Minerals is to identify untapped opportunities in regions with previous uranium discoveries. These areas, although underexplored, hold immense potential and benefit from stable geopolitical and economic environments.
The Company possesses projects of significant technical merit in two prime locations. Firstly, we have initiated ventures in the Four Corners region, specifically focusing on the Colorado Plateau within the United States. Secondly, we are actively engaged in the Athabasca Basin in Saskatchewan, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
Clive H. Massey
President & CEO