Annuncio • Sep 16
Premier American Uranium Inc. (TSXV:PUR) completed the acquisition of Nuclear Fuels Inc. (CNSX:NF) from enCore Energy Corp and others. Premier American Uranium Inc. (TSXV:PUR) agreed to acquire Nuclear Fuels Inc. (CNSX:NF) from enCore Energy Corp and others for CAD 42.3 million on June 4, 2025. Under the terms of the Arrangement, shareholders of Nuclear Fuels will receive 0.33 of a common share of Premier American Uranium for each NF Share held. The Exchange Ratio implies consideration of CAD 0.43 per NF Share based on the 20-day volume weighted average price. Shareholders of Premier American Uranium and Nuclear Fuels will own approximately 59% and 41% shares. The termination fee of CAD 2 million is payable to Premier American Uranium. The implied equity value of the combined company is estimated at approximately CAD 102 million. On closing of the Transaction, the Company’s board of directors is expected to be comprised of up to five members from the current directors or management of Premier American Uranium and two nominees from the current directors or management of Nuclear Fuels. The Company will be managed by the current executive team of Premier American Uranium, led by Colin Healey as CEO.
The Arrangement has been unanimously approved by the boards of directors of both Premier American Uranium and Nuclear Fuels. Closing of the Transaction is subject to the receipt of applicable regulatory approvals, satisfaction of certain other closing conditions customary, approval by at least 66 2/3% of the votes cast by NF Shareholders, court and stock exchange approval. The NF Special Meeting is expected to be held in the third quarter of 2025. Closing of the Transaction is anticipated to occur in the third quarter of 2025. As of August 13, 2025, Nuclear Fuels Inc. shareholders have approved the arrangement, with 95.08% voting in favor, pending final court and regulatory approvals. As of September 11, 2025, the parties are targeting to complete the Plan of Arrangement on or around September 19, 2025, pending completion of the TSX Venture Exchange review. Nuclear Fuels established a special committee of its Board of Directors (the “Special Committee”) to review the Transaction.
Haywood Securities Inc is acting as fairness opinion provider to board of directors of Premier. Haywood Securities Inc is acting as financial advisor and Jamie Litchen and Greg Hogan of Cassels Brock & Blackwell LLP is acting as legal advisor to Premier. Edward L. Mayerhofer of Morton Law LLP is acting as legal advisor, Canaccord Genuity Group Inc. (TSX:CF) is acting as financial advisor to NF. Evans & Evans, Inc. is acting as fairness opinion provider to special committee of NF,Canaccord Genuity Group Inc. (TSX:CF) is acting as fairness opinion provider to board of directors of NF.
Premier American Uranium Inc. (TSXV:PUR) completed the acquisition of Nuclear Fuels Inc. (CNSX:NF) from enCore Energy Corp and others on September 16, 2025. New Risk • Aug 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$9.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.1m free cash flow). Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$31.3m market cap, or US$22.8m). Annuncio • Jun 11
Nuclear Fuels Inc. Commences 2025 Kaycee Uranium Project Drill Program Nuclear Fuels Inc. announced the commencement of its 2025 drilling program, with an initial plan for at least 100,000 feet, at the Kaycee Uranium Project (‘the Project’) located in the Powder River Basin (‘PRB’) of Wyoming. The regional drilling conducted in late 2024 successfully identified two new zones of roll front-hosted uranium mineralization. Notably, the Outpost and Trail Dust Zones were discovered during the late stages of the 2024 program, and the Company is excited to follow up on these promising new areas during the 2025 drill program. Drill hole LT24_050 returned 0.082% eU3O8 over 6.5 feet for a total grade thickness (‘GT’) of 0.532, beginning at a downhole depth of 767.0 feet at the Outpost Zone; At the Trail Dust Zone, located approximately 1.5 miles to the north of the Outpost Zone, drill hole LT24_037 returned 0.0553% eU3O8 over 5.5 feet for a total hole GT of 0.304, beginning at a downhole depth of 886.0 feet; The 2025 exploration program is now underway at the Project and will follow up on these results, as well as test other high priority targets; This fully-funded exploration program consists of an initial 100,000 feet of rotary mud drilling, with results to be reported at a similar cadence to the 2024 drill program. Kaycee Uranium Project, Wyoming: The Kaycee Project in Wyoming's PRB, Nuclear Fuels' priority project, consists of 55 square miles of mineral rights over a 35-mile mineralized trend hosting 430 miles of identified roll fronts. The Kaycee Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction. The Kaycee Project, under Nuclear Fuels, represents the first time since the early 1980's that the entire district is controlled by one company.in 2023, Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp., which retains a back-in right for 51% of the project by paying 2.5X the exploration costs and financing the Kaycee project to production (costs recoverable from production) upon Nuclear Fuels establishing a minimum 15 million pound eU3O8 43-101 compliant resource. Wyoming is a proven and prolific uranium producer with a pro-energy government and established regulatory regime for the permitting and extraction of uranium through ISR technology. Wyoming is one of the few ‘Agreement States’ hosting ISR uranium deposits, where the federal government and the Nuclear Regulatory Commission have ceded regulatory authority to the state government, permitting and advancing uranium projects is more efficient and streamlined as compared to most other states. Wyoming, with over 250 million pounds of historic uranium production, ranks as the state with the second most uranium production to date; most of which has been through the ISR technology since 1990, predominantly from the PRB. New Risk • Jun 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Canadian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.8m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$27.4m market cap, or US$20.1m). Annuncio • Jun 05
Premier American Uranium Inc. (TSXV:PUR) agreed to acquire Nuclear Fuels Inc. (CNSX:NF) from enCore Energy Corp and others for CAD 42.3 million. Premier American Uranium Inc. (TSXV:PUR) agreed to acquire Nuclear Fuels Inc. (CNSX:NF) from enCore Energy Corp and others for CAD 42.3 million on June 4, 2025. Under the terms of the Arrangement, shareholders of Nuclear Fuels will receive 0.33 of a common share of Premier American Uranium for each NF Share held.The Exchange Ratio implies consideration of CAD 0.43 per NF Share based on the 20-day volume weighted average price. Shareholders of Premier American Uranium and Nuclear Fuels will own approximately 59% and 41% shares. The termination fee of $2 million is payable to Premier American Uranium.The implied equity value of the combined company is estimated at approximately CAD 102 million.On closing of the Transaction, the Company’s board of directors is expected to be comprised of up to five members from the current directors or management of Premier American Uranium and two nominees from the current directors or management ofNuclear Fuels. The Company will be managed by the current executive team of Premier American Uranium, led by Colin Healey as CEO.
The Arrangement has been unanimously approved by the boards of directors of both Premier American Uranium and Nuclear Fuels,Closing of the Transaction is subject to the receipt of applicable regulatory approvals, satisfaction of certain other closing conditions customary,approval by at least 66 2/3% of the votes cast by NF Shareholders ,court and stock exchange approval. The NF Special Meeting is expected to be held in the third quarter of 2025. Closing of the Transaction is anticipated to occur in the third quarter of 2025.Nuclear Fuels established a special committee of its Board of Directors (the “Special Committee”) to review the Transaction.
Haywood Securities Inc is acting as fairness opinion provider to board of directors of Premier. Haywood Securities Inc is acting as financial advisor and Cassels Brock & Blackwell LLP is acting as legal advisor to Premier. Morton Law LLP is acting as legal advisor,Canaccord Genuity Group Inc. (TSX:CF) is acting as financial advisor to NF. Evans & Evans, Inc. is acting as fairness opinion provider to special committee of NF,Canaccord Genuity Group Inc. (TSX:CF) is acting as fairness opinion provider to board of directors of NF. New Risk • Apr 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.8m free cash flow). Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$16.6m market cap, or US$11.8m). Annuncio • Mar 20
Nuclear Fuels Inc. Announces Passing of Eugene Spiering as Board of Director Nuclear Fuels Inc. announced with profound sadness, that Mr. Eugene Spiering, a valued member of Nuclear Fuels' Board of Directors, passed away earlier this week. Eugene (Gene) Spiering was a well-respected geologist, globally renown for his work in uranium exploration with over 35 years of international experience in mineral exploration and senior level project management in the western United States, South America, and Europe. Gene's work on the Kaycee Uranium District in the early 1980s provided the foundational geological framework for Nuclear Fuels' project. He served as a project geologist for Energy Fuels Nuclear in the 1990s, and during his tenure as Vice President of Exploration for Quaterra Resources, discovered the only two new uranium deposits in Arizona. More recently, as a member of the Company's Board of Directors, his firsthand knowledge of the Kaycee area was invaluable and key to the exploration success on the Project thus far. New Risk • Feb 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$9.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$9.8m free cash flow). Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$25.9m market cap, or US$18.0m). New Risk • Dec 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 106% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (106% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (CA$42.1m market cap, or US$29.9m). Annuncio • Oct 31
Nuclear Fuels Inc. announced that it expects to receive CAD 8 million in funding Nuclear Fuels Inc. announced a bought deal private placement basis, to issue 20,000,000 units at a price of CAD 0.40 per unit for gross proceeds of CAD 8,000,000 on October 30, 2024. Each unit will consist of one common share of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of the company for 36 months from the closing of the offering a price of CAD 0.55. The company shall grant the underwriters an option to purchase up to an additional 5,000,000 units at the offering price for additional gross proceeds of up to CAD 2,000,000 exercisable at any time up to 48 hours prior to the closing of the offering. It is anticipated that closing of the offering will occur on or about November 20, 2024, or such other date or dates as the company and the underwriters may agree. The offering is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the approval of the Canadian Securities Exchange. The securities to be issued under the offering will have a hold period of four months and one day from the applicable closing date in accordance with applicable securities laws. Annuncio • Oct 22
Nuclear Fuels Inc. announced that it has received CAD 0.09875 million in funding On October 21, 2024, Nuclear Fuels Inc. closed the transaction. The issued shares are subject to a four-month hold period, expiring February 18, 2025. Annuncio • Oct 11
Nuclear Fuels Inc. announced that it expects to receive CAD 0.09875 million in funding Nuclear Fuels Inc. announced a private placement of 250,000 shares at a price of CAD 0.395 per common share for the gross proceeds of CAD 98,750 on October 10, 2024. The trasnaction will include participation from new investor, Brahm Spilfogel a member of the Audit Committee and the Compensation Committee. Annuncio • Oct 10
Nuclear Fuels Inc. Announces Board Changes Nuclear Fuels Inc. announced the appointment of Brahm Spilfogel to Board of Directors, effective immediately. Mr. Spilfogel also will serve as a member of the Audit Committee and the Compensation Committee. Brahm Spilfogel, Director Brahm Spilfogelis an award-winning financial executive with over 25 years of experience in resource portfolio management. He recently retired from RBC Global Asset Management where he served as Managing Director and Senior Portfolio Manager, co-managing a number of portfolios including the RBC Global Precious Metal Fund, RBC Global Resources Fund, and the RBC Small and Mid-Cap Resources Fund, with assets exceeding$2 billion. As one ofCanada'smost well-regarded resource portfolio managers, Brahm has actively engaged with corporate boards, offering strategic insights and contributing to governance, safety, and sustainability discussions. His deep expertise in the Resources sector extends to financial analysis, mergers and acquisitions, and capital markets. Throughout his career, Mr. Spilfogel has demonstrated exceptional leadership, mentoring colleagues and driving consistent fund performance. He holds a Bachelor of Commerce degree from McGill University and is a Chartered Financial Analyst (CFA). The Company also announced the retirement of Lawrence (Larry) Lahusen from the Board of Directors. Annuncio • Oct 09
Nuclear Fuels Inc. Releases Technical Report for the Kaycee Uranium Project Nuclear Fuels Inc. released a NI 43-101 Technical Report for the Kaycee In-Situ Recovery ("ISR") Uranium Project located in Wyoming's Powder River Basin. The Technical Report, prepared by WWC Engineering, has identified an exploration target of 11.5 to 30 million pounds of uranium ("U3O8") supported by available historical data from previous operators and recent exploration recently conducted by Nuclear Fuels. Significant highlights of the Technical Report include: An exploration target of 11.5 to 30 million pounds uranium ("U3O8) at average grades of 0.06% to 0.10%; A more extensive, in-depth review of historical data identified approximately 430 miles of roll fronts, an increase from the +110 miles previously outlined. Approximately 10% of the mapped redox trends have been explored with close-spaced drilling; The identification of the presence of multiple stacked roll fronts in each of the three stratigraphic formations that are known to host uranium mineralization; Indication the uranium mineralization lying under the water table may be amenable to In-Situ Recovery ("ISR"), based on historical metallurgical and mineral processing test work. ISR is an economical and environmentally responsible means of extracting uranium through wellfield technology and the use of oxygenated water, eliminating the use of conventional mining techniques; Details regarding the eleven (11) reported areas of historical uranium resources occurring at depths that range from less than 50 to 1,300 feet with a shallow water table typically lying between 50 and 250 feet. The Technical Report recommended that the Company should continue the current drilling program to delineate mineralization and explore for additional mineralized areas on the Project. In addition, the Technical Report recommended that the Company should prepare a classified mineral resource estimate for the Project, contingent on positive results of the drilling program. Methodology to estimate an exploration target range based on historical data includes: Average grade and thickness for the mineralized zones in the Wasatch and Fort Union formations were calculated based on the historical data; Grade-Thickness calculated as weighted averages based on the number of drillholes in the various mineralized zones. Grade Thickness ("GT"), is defined as the product of the uranium grade (U3O8%) multiplied by the thickness of the intercept (in feet). In the Powder River Basin of Wyoming, potentially ISR- recoverable uranium mineralization with a GT of greater than 0.20 is considered suitable for inclusion in a potential wellfield; Outlines of the historically mapped mineralized areas were digitized with the area and length of the mineralized zones calculated; The average width of the mineralized zones was established by dividing the area of the mineralized zones by their length; The average width for each formation was multiplied by the length of the roll front trends to estimate the total area of mineralized trend for each formation; Mineralization does not occur along the entire roll front trend; therefore, a Trend Mineralization Factor was calculated for the Wasatch and Fort Union formations by dividing the length of the historically mapped mineralized zones by the total roll front trend length for each mineralized zone; The weighted average GT and Trend Mineralization Factor for the Wasatch and Fort Union formations was used for the purposes of calculating an exploration target in the Lance Formation. Kaycee ISR Uranium Project Exploration Target: Kaycee Uranium Project, Wyoming The Kaycee Project in Wyoming's Powder River Basin ("PRB"), Nuclear Fuels' priority project, consists of over 55 square miles of mineral rights over a 36-mile mineralized trend hosting approximately 430 miles of identified roll fronts. The Kaycee Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction. The Kaycee Project, under Nuclear Fuels, represents the first time since the early 1980's that the entire district is controlled by one company. In 2023, Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp., which retains a back-in right for 51% of the project by paying 2.5X the exploration costs and financing the Kaycee project to production (costs recoverable from production) upon Nuclear Fuels establishing a minimum 15 million pound uranium 43-101 compliant resource. Wyoming is a proven and prolific uranium producer with a pro-energy government and established regulatory regime for the permitting and extraction of uranium through ISR technology. Wyoming is one of the few "Agreement States" hosting ISR uranium deposits, where the federal government and the Nuclear Regulatory Commission have ceded regulatory authority to the state government, making permitting and advancing uranium projects more efficient and streamlined as compared to most other states. Wyoming, with over 250 million pounds of historic uranium production, ranks as the state with the second most uranium production to date, most of which has been through the ISR technology since 1990, predominantly from the PRB. The NI 3-101 Technical Report will be made available on SEDAR and the Company's website within the time prescribed by NI 43- 101. The technical content of this news release has been reviewed and approved by Christopher McDowell, MBA, P.G., a Project Manager with WWC Engineering, independent of Nuclear Fuels and a Qualified Person as defined in National Instrument 43-101. The technical content of this news release has been reviewed and approved by Mark Travis, CPG., a contractor to the Company, and a Qualified Person as defined in National Instrument 43-101. Annuncio • Aug 29
Nuclear Fuels Inc. Summarizes Initial Kaycee Uranium Project Drill Program Commences Expanded 2024 Program Nuclear Fuels Inc. announced the commencement of an expanded drill program and provides a summary of results from the initial successful drill program, completed during the first half of 2024 at its priority Kaycee In-Situ Recovery (‘ISR’) Uranium Project in Wyoming'sPowder River Basin. The completed program was designed to confirm and expand uranium mineralization associated with two (of seven) known historic resource areas along the 36-mile trend. Importantly, the drill program indicated the potential connection of the Saddle and Spur Zones and also identified previously unknown deeper zones. Specific highlights include: The drill program resulted in the identification of additional mineralized horizons, through deeper drilling below or adjacent to, previously known historic resources or mineralized areas; The drill program led to the discovery of a southerly extension trending from the Spur Zone towards the Saddle Zone, approximately 2 miles from the Saddle Zone; 169 drill holes were completed at an average depth of 522 feet at the Saddle Zone (an area of approximately 1,000 acres) and 31 drill holes at an average depth of 497 feet at the Spur Zone, (an area in excess of 120 acres) located approximately 2 miles along trend to the northwest of the Saddle Zone; 75% of the holes returned anomalous gamma values with 47 holes returning Grade Thickness (‘GT’) of 0.25 or better with a combined 209 feet at an average grade of 0.124 % eU3O8. Grade Thickness, or GT, is defined as the product of the uranium grade (‘eU3O8%’) multiplied by the thickness of the intercept (in feet). In the Powder River Basin (‘PRB’) of Wyoming potentially ISR-recoverable uranium mineralization with a GT of greater than 0.25 is considered suitable for inclusion in a potential wellfield at a conservative uranium price of 50.00 per pound; The completion of an evaluation of over 500 historic well logs resulting in an increase to the permit area including 700 new drill hole locations. Annuncio • Aug 15
Nuclear Fuels Inc. announced that it has received CAD 0.856269 million in funding from enCore Energy Corp. On August 14, 2024, Nuclear Fuels Inc. closed the transaction. Gregory Huffman, Chief Executive Officer and Director, acquired 2,000,000 Shares and 1,000,000 Warrants, representing 3.19% of the outstanding shares and 4.7% of the outstanding shares on a partially diluted basis. Company's largest shareholder, acquired 446,483 units to maintain its 18.3% holding in the Company. Each unit consists of one common share and one-half of one share purchase warrant, each whole warrant entitling the holder to purchase one common share at a price of $0.55 for a period of two years expiring August 13, 2026. All securities issued are subject to a four month hold period expiring December 14, 2024. Annuncio • Jun 24
Nuclear Fuels Inc. Announces Chief Executive Officer Changes Nuclear Fuels Inc. announced the appointment of Mr. Gregory Huffman as Chief Executive Officer of the Company effective immediately. Mr. Huffman brings over two decades of mining analysis and equity finance experience to the Company, with a focus on uranium and other energy-related metals. With a focus on uranium and other energy-related metals, Mr. Huffman's diverse background includes roles in mining specialty sales, fund management, and equity research in the metals and mining sector. In his career, he has been instrumental in leading cross border coordination in global mining financial matters, including his work as a mining analyst focused on uranium from 2004 to 2007. His most recent experience, from 2016 to 2024, was as the Global Head of Mining Sales at Canaccord Genuity where he employed his broad range of geological and financial skills to evaluate mining companies exploring, developing, and producing precious, base and energy-related metals, including uranium. Prior to Canaccord Genuity, Mr. Huffman worked in a similar mining equity sales role with Scotia Capital, as well as a materials analyst with a multi-strategy, U.S.-based investment fund. His mining equity research and sales experience is complemented by an extensive geological background. Greg holds a Bachelor of Science (Honors), cum laude, from the Harquail School of Earth Sciences at Laurentian University in Sudbury and serves on the Advisory Board of the Goodman School of Mines, also at Laurentian University. Mr. Michael Collins has stepped down as a Director and the Chief Executive Officer and will remain as an Advisor and Consultant to the Company. Annuncio • Jun 18
Nuclear Fuels Inc., Annual General Meeting, Aug 22, 2024 Nuclear Fuels Inc., Annual General Meeting, Aug 22, 2024. Annuncio • Apr 30
Nuclear Fuels Inc. Announces Resumption of Drilling at its Kaycee ISR Uranium Project, Powder River Basin, Wyoming Nuclear Fuels Inc. mobilized two drills for the second phase of its 200 hole drill program at the Kaycee Project in Wyoming's Powder River Basin. In 2023, 89 drill holes were completed. Drilling in 2024 will continue to expand historic uranium mineralization at depth and expand mineralization along trend and on other high priority targets identified. Nuclear Fuels is focused on the exploration and exploitation for In-Situ Recovery ("ISR") uranium resources. ISR technology extracts uranium in a non-invasive process using natural groundwater and oxygen, and a proven ion exchange process, for uranium recovery. Phase 1 drilling in 2023 successfully confirmed and expanded historic resources returning grades ranging from trace to 6.5 feet at 0.187% U3O8(Gamma log) with a grade thickness of 1.216; In 2024, Phase 2 drilling will commence with 111 permitted drill sites designed to expand the areas drilled in 2023 and define new mineralized zones along trend. Based on the success of the 2023 drilling, an amendment to drill permit has been filed to significantly expand the target area for drilling and increase the number of drill sites. This work continues to build Kaycee ISR focused project base as well as advancing the Bootheel project in Albany County, Wyoming. The Kaycee Project provides a great opportunity to grow an economic ISR uranium resources in one of the most prolific ISR amenable sandstone hosted uranium basins in the US. The Kaycee Project in Wyoming' Powder River Basin, Nuclear Fuel's priority project, consists of over 42 square miles of mineral rights over a 33-mile mineralized trend hosting more than 110 miles of identified roll fronts. The Kaycee Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction. The Kaycee Project, under Nuclear Fuels, represents the first time since the early 1980's that the entire district is controlled by one company. Gamma log assays may be in disease quilibrium with ICP-MS or PFN assays. Comparisons of U3O8 Gamma log and ICP-MS assays of Powder River Basin core samples indicate that U3O8 Gamma is comparable to ICP-MS uranium assay in the Powder River Basin. Grade Thickness, or GT, is defined as the product of the mineral grade multiplied by the thickness of the mineralization. New Risk • Apr 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Canadian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (CA$29.6m market cap, or US$21.5m). Annuncio • Feb 06
Nuclear Fuels Appoints Rich Munson to Board of Directors Nuclear Fuels Inc. announce the appointment of Rich Munson to the board of Directors. Rich Munson has been active in the natural resources business for 35+ years, starting as a natural resources lawyer specializing in taxation. Rich moved to the private sector in the mid -1980's when he joined the Energy Fuels companies owned by John Adams. Energy Fuels Nuclear became the largest US uranium producer in the late 1980's and early 1990's. During this time, Energy Fuels was active in both conventional uranium mining and milling, as well as in the exploration and development of In Situ Recovery "Roll front" mineralization. Areas where Energy Fuels operated included the Arizona Strip, the Gas Hills, South Dakota, the Colorado Plateau and operated the White Mesa Uranium Mill near Blanding, Utah. Rich has been active in multiple jurisdictions and in 1999, Rich and John Adams were the co-founders of ETK Inc., owner of the Toroparu Gold – Copper Project in Guyana, S.A., eventually moving the Project to Sandspring Resources Ltd. The Toroparu Project is one of the largest undeveloped gold deposits in the Americas and is now owned by Aris Mining Corp. Rich continues to be active in the international resource sector. The Company also announces that, in accordance with the Company's Stock Option Plan, it has granted to certain of its directors, officers, employees and consultants incentive stock options to purchase up to an aggregate of 1,580,000 common shares of the Company exercisable at a price of $0.56 per share expiring February 6, 2027. The options will vest 1/3 every 6 months over an 18 month period. Annuncio • Jan 30
Nuclear Fuels Inc. Reports Positive Results from its On-Going Drill Program at its Kaycee Uranium Project in Wyoming's Powder River Basin Nuclear Fuels Inc. announced continuing positive results from its on-going drill program at its Kaycee Uranium Project in Wyoming's Powder River Basin. 10 holes are reported with depths ranging from 350 to 600 feet. 5 holes returned significant uranium grades and thicknesses. Grade thicknesses (GT) over the economic cutoff of 0.3 ranged from 0.41 to 1.216 in the 3 holes with anomalous mineralization detected in 7 of the 10 holes. Favorable weather conditions in Wyoming and drilling success at the historic Saddle Zone combined to extend the fall 2023 program until just before the holidays in December of 2023. A total of 89 holes were completed. Outstanding drill results will be reported over the coming weeks. Spring drilling will resume as soon as weather allows. Kaycee Uranium Project, Wyoming: The Kaycee Project in Wyoming's Powder River Basin (PRB), Nuclear Fuel's priority project, consisting of over 42 square miles of mineral rights over a 33-mile mineralized trend and 110 miles of identified roll fronts. The Kaycee Project is believed to be the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union, and Lance) are mineralized and potentially accessible for ISR extraction. The Kaycee Project, under Nuclear Fuels, represents the first time since the early 1980's that the entire district is controlled by one company. Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp., which retains a back-in right for 51% of the project by paying 2.5X the exploration costs and carrying the Kaycee project to production (costs recoverable from production) upon Nuclear Fuels establishing a minimum 15 million pound U3O8 43-101 compliant resource. Wyoming is a proven and prolific uranium producer with a pro-energy government and established regulatory regime for the permitting and extraction of uranium through ISR technology. As Wyoming is one of the few Agreement States where the federal government and the Nuclear Regulatory Commission have ceded regulatory authority to the state government, permitting and advancing uranium projects is more efficient and streamlined as compared to most other states. Wyoming, with over 250 million pounds of historic production, ranks as the state with the second most uranium production to date; most of which has been through the ISR method since 1990; predominantly from the PRB. The technical content of this news release has been reviewed and approved by Mark Travis, CPG., a contractor to the Company, and a Qualified Person as defined in National Instrument 43-101. Drill holes are completed by Single Water Services using a rotary drill rig. Chip samples are collected for lithological logging every five feet. Century Geophysics of Tusla Oklahoma is contracted to conduct downhole gamma ray, resistivity, spontaneous potential, and deviation. Century Geophysics calibrates it's downhole tools in the US Department of Energy uranium logging Test pits in Casper Wyoming to insure the accuracy of the down hole gamma ray log measurements. Annuncio • Jan 25
Nuclear Fuels Inc. announced that it has received CAD 7.632 million in funding On January 24, 2024, Nuclear Fuels Inc closed the transaction. The company amended the terms of the transaction and issued 12,720,000 units at a price of CAD 0.60 per unit for gross proceeds of approximately CAD 7,632,000. In consideration for the services provided by the underwriters in connection with the offering, the company paid the underwriters a cash commission of CAD 413,204.88 and issued to the
underwriters an aggregate of 620,024 compensation options. Each compensation option is exercisable into one common share of the company at a price of CAD 0.60 per share until January 24, 2027. Annuncio • Jan 04
Nuclear Fuels Inc. announced that it expects to receive CAD 6.36 million in funding Enlighta Inc. announced it has entered into an agreement of up to 8,333,334 units at a price of CAD 0.6 per unit for gross proceeds of up to CAD 5,000,000.4 on January 3, 2024. Each Unit shall consist of one common share and one half of one transferable common share purchase warrant. Each Warrant shall be exercisable into one additional common share of the company for 36 months from the closing date at an exercise price of CAD 0.8. The Company has also granted the Underwriters an option to cover over-allotments, which will allow the Underwriters to offer up to an additional 15% of the Offering, on the same terms as the Units. The Underwriters’ Option may be exercised in whole or in part at any time prior to the closing of the Offering. The Offering is expected to close on or about January 24, 2024, or such other date as agreed between the Company and the Underwriters and is subject to satisfaction of customary closing conditions.
On the same date, the company has amended the terms of the transaction. The company will now issue 10,600,000 units at a price of CAD 0.60 per unit for gross proceeds of approximately CAD 6,360,000. The company has also granted the Underwriters an option to cover over-allotments which will allow the Underwriters to offer up to an additional 20% of the Offering, on the same terms as the units. The Underwriter's Option may be exercised in whole or in part at any time prior to the closing of the Offering. Annuncio • Dec 09
Nuclear Fuels Inc. Continues Successful Drill Program at Kaycee Project, Wyoming Nuclear Fuels Inc. announced continuing positive results from its on-going drill program at its Kaycee Uranium Project in Wyoming's Powder River Basin. 11 holes are reported with depths ranging from 350 to 600 feet. 5 holes returned uranium grades and thicknesses which are suitable for In-Situ Recovery ("ISR") extraction technology. Grade thicknesses ("GT") over the economic cutoff of 0.3 ranged from 0.41 to 1.216 in the 5 holes with anomalous mineralization detected in 9 of the 11 holes. F favorable weather conditions in Wyoming and drilling success at the historic Saddle Zone have resulted in an extension of the 2023 drilling program. Highlights: Uranium mineralization with typically ore-grade Grade Thickness ("GT") was encountered in the lower Wasatch Formation in 5 drill holes with GT ranging from 0.410 to 1.216; The highest-grade single intercept, and the thickest intersection was 6.5 feet of 0.187% eU3O8 with a GT of 1.216. A GT of over 0.3 which is considered an economic minimum for inclusion in a typical wellfield in the Power River Basin; Phase 1 drilling continues to successfully confirm and expand historic resources of the Saddle Zone hosted in the Lower Wasatch Formation at depths of 165 to 350 feet in saturated sands; Drilling continues at the Saddle deposit, targeting both the shallow Lower Wasatch and the newly discovered upper Fort Union sands mineralization. Drill holes are reported that returned significant zones of uranium mineralization with >2 ft thickness at or above a grade cut-off of 0.02 per cent eU3O8. (1) % eU3O8 is a measure of gamma intensity from a decay product of uranium and is not a direct measurement of uranium. Numerous comparisons of eU3O8 and chemical assays of Powder River Basin core samples indicate that eU3O8 are a reasonable indicator of the actual uranium assay. Annuncio • Nov 18
Nuclear Fuels Inc. Discovers New Deeper Uranium-Bearing Horizon; Kaycee Project Drilling Continues to Deliver Positive Results Nuclear Fuels Inc. announced the second set of drill results from its continuing drill program at its Kaycee Uranium Project in Wyoming's Powder River Basin. The drilling, designed to confirm and expand the historic resource at the Saddle zone reports 4 holes containing multiple uranium intercepts of ore-grade thickness which is potentially amenable for In-Situ Recovery ("ISR") extraction technology. Additionally, a new and deeper uranium-bearing horizon has been discovered in the Fort Union Formation, located below the historic mineralization in the Lower Wasatch Formation. Uranium mineralization with typically ore-grade Grade Thickness (GT) was encountered in 5 discrete horizons in 4 drill holes with Grade Thickness ranging from 0.308 to 0.911 with the highest grade single intercept being 4.5 feet of 0.202% eU3O8. Grade Thickness of 0.3 is considered an economic minimum for inclusion in a typical wellfield in the Power River Basin; Discovery of uranium mineralization in the Fort Union Formation lying approximately 350 feet below the Lower Wasatch hosted historical mineralization of the Saddle zone with 1.5 feet of 0.024% eU3O8 in hole SD23-027 and 2.0 feet of 0.039% eU3O8 In hole SD23-029; Phase 1 drilling continues to successfully confirm and expand historic resources of the Saddle zone hosted in the Lower Wasatch Formation at depths of 165 to 350 feet in saturated sands; Drilling will continue at the Saddle zone targeting both the shallow Lower Wasatch Formation and the newly discovered uranium mineralization within the upper Fort Union Formation with additional results expected in late November 2023. Drill holes are reported that returned significant zones of uranium mineralization with >2 ft thickness at or above a grade cut-off of 0.02% eU3O8; % eU3O8 is a measure of gamma intensity from a decay product of uranium and is not a direct measurement of uranium. Annuncio • Oct 26
Nuclear Fuels Announces Extensive Drill Program At the Kaycee Uranium Project, Wyoming Nuclear Fuels Inc. announced that the Company has mobilized for the first phase of its fully-funded 200 hole rotary drill program at the Kaycee Project in Wyoming's Powder River Basin ("PRB"). The drill program is focused on validating historic uranium drill intersections and expanding known mineralization at depth, along trend, and on other high priority targets on the Kaycee Project. Nuclear Fuels is solely focused on exploration for In-Situ Recovery ("ISR") uranium. ISR technology extracts uranium in a non-invasiveprocess through the use of natural groundwater and oxygen, coupled with a proven ion exchange process, to recover the uranium. The Kaycee Project in Wyoming's Powder River Basin ("PRB") is Nuclear Fuel's priority project, covering a 26-mile mineralized trend with over 110 miles of identified roll fronts. The Kaycee Project is believed tobe the only project in the PRB where all three known historically productive sandstone formations (Wasatch, Fort Union and Lance) are mineralized and potentially amenable to ISR extraction. The Kaycee Project, under Nuclear Fuels, represents the first time since the early 1980's that the entire district is controlled by one company. With over 3,700 drill holes, historic drilling has confirmed uranium mineralization in all three historically productive sandstones within the PRB, occurring over more than 1000' of vertical section. The majority of the 110 miles of identified roll front mineralization has not been well-explored with drilling concentrated on approximately 10% of the trend. Nuclear Fuels acquired the Kaycee Project from enCore Energy Corp., which retains a back-in right for 51% of the project by paying 2.5X the exploration costs and carrying the Kaycee project to production (costs recoverable from production) upon Nuclear Fuels establishing a minimum 15 million pound U3O8 43-101 compliant resource.