Announcement Date: 2022-06-06
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: UEX Corp.
Project name: Shea Creek
Location: Canada
Commodities: Uranium
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: This technical report was prepared to disclose exploration activity from 2013 to 2016 and to update the resource estimate on the Shea Creek property (“Shea Creek“) utilizing form 43-101F1 format guidelines (2016) and has been completed in conformance with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (November 29, 2019) referred to in Companion Policy 43-101CP to National Instrument (NI) 43-101. Shea Creek is in northern Saskatchewan, Canada and is 49.098% owned by UEX Corporation (“UEX”) with its partner Orano Canada Inc. (“ORANO”) owning the remaining 50.902% interest. Shea Creek, which contains the Kianna, Anne, Colette and 58B uranium deposits, is located in the western Athabasca Basin of northwestern Saskatchewan, one of the most prolific uranium producing regions in the world. The property is 700 km north-northwest of the city of Saskatoon and approximately 20 km east of the border with the province of Alberta. It comprises eleven mineral dispositions totaling 19,581 hectares (196 km2), which are registered to ORANO. ORANO acts as project operator. UEX acquired its interest in Shea Creek through an option agreement (“the Agreement”) which was signed in March 2004. Under the Agreement, UEX was granted an option to acquire a 49% interest in eight uranium projects located in the Western Athabasca Basin that included Shea Creek from COGEMA Resources Inc. (“COGEMA”), the predecessor to AREVA Resources Canada Inc.
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