Tillkännagivande • Jul 16
Blast Resources Identifies Strong Uranium Thorium Anomaly At Wales Lake Uranium Project Blast Resources Inc. announced a strong uranium/thorium anomaly that has been identified at the Wales Lake Uranium Project, which consists of 3 claim groups on the southwest side of the Athabasca Basin, in northern Saskatchewan. A strong Uranium/Thorium anomaly that in GSC survey information trends N-S and extends for approximately 12 km from the south end to near the north end where the anomaly is evident in both the length and width of claim MC00019518. Of additional interest there are 7 faults, shears, or conductors shown from historic information within the claim. This anomaly sits on the eastern side of the Clearwater Domain. The Clearwater Domain in northern Saskatchewan follows a 325 km curvilinearaeromagnetic high and gravity low, extending from south margins of the Athabasca Basin to its northern margin. Although mostly covered by sediments, this geophysical feature is interpreted as a major magmatic event, supported by c. 1.84 Ga granitic outcrops along the Clearwater River. Research by the Geological Survey of Canada's Targeted Geoscience Initiative investigated potential connections between these intrusions and the Patterson Lake corridor (PLC) uranium district. New geophysical surveys and modeling reveal that the Clearwater Domain extends deeper (~22 km) than previously known and dips beneath several PLC deposits. The geological evidence supports a model whereby the radiogenic heat generated by the buried Clearwatergranites created elevated geothermal gradients beneath the overlying sedimentary sequences. This heat promoted mobilization of deep basement fluids containing precious metals, while fault reactivations drew down uranium-bearing oxidized brines to form the deposits. The scientific and technical information contained in this news release was prepared and approved by Locke Goldsmith, M.Sc., P.Eng., P. Geo., ArctexEngineering Services and who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Tillkännagivande • Jul 08
Blast Resources Inc. Announces Structural Corridor At Wales Lake Project Blast Resources Inc. has announced a structural corridor found on the Blast mineral claims. The Company has 3 claim groups on the southwest side of the Athabasca Basin in northern Saskatchewan. Low magnetic susceptibility in regional surveys shows a NE-SW structural corridor that crosses the Blast claims for 9 km. The feature may be caused by alteration and destruction of magnetic minerals. The significance of a structural corridor zone is that it may host concentrations of uranium mineralization in individual or multiple shears or faults to hundreds of metre depths. This structural corridor is a zone of approximately parallel faults or shears in basement rock. The trend extends both NNW (330°) and SSE (150°) of the Blast claims continuous within the Blast claims for a length of 9 km. Width of the zone as indicated by basement conductors (Fission 3) may be 3 km. Info on this target are as a result of the December 2024 airborne magnetic survey done by the Company and historic F3 Uranium field work (public domain). In structural geology, a structural corridor refers to a long, relatively narrow area defined by specific geological structures, such as faults, shears or folds, which can influence the location of geological features and resources. The Athabasca Basin's structural corridors are critical for understanding the sites of uranium mineralization, particularly the relationship to unconformity-related deposits. These corridors, often major fault zones, act as pathways for uranium-bearing fluids and provide geometric traps for ore deposition. The Company is focussed on conductors in basement rock that acted as traps for uranium mineralization. Unconformity-related deposits, uranium mineralization is often associated with the unconformity surface, where older basement rocks are overlain by younger sedimentary rocks. Conductors in the basement rocks can guide fluids from deeper sources to the unconformity, where they can deposit uranium. The Wales Lake project is accessible along the all-weather gravel road provincial highway 955 from La Loche to the past-producing Cluff Lake uranium mine. Highway 955 crosses approximately 1.5km to the east of the project, and access to the west may be on ungazetted bush roads and tracks. The scientific and technical information contained in this news release was prepared and approved by Locke Goldsmith, M.Sc., P.Eng., P. Geo., Arctex Engineering Services and who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Situated south of Wales Lake and positioned just outside the southwest margin of the Athabasca Basin, the Project is strategically located within the Patterson Lake Corridor which hosts two significant uranium deposits (Triple R Deposit, 2,200,000 @ 1.58 U308 and 0.51 g/t Au & the Arrow Deposit which is the largest source of low-cost uranium globally, delivering up to 30,000,000 pounds of high-grade uranium per year). The deposits represent one of the largest high-grade uranium systems globally, comparable to world-class deposits such as McArthur River, Cigar Lake, and Key Lake. Tillkännagivande • Jul 04
Blast Resources Announces Exploration Results At Its Wales Lake Project In The Athabasca Basin Region Blast Resources Inc. summarized results of exploration programs completed on 3 groups of claims in the southwestern Athabasca Basin region, northern Saskatchewan. In December 2024, a high resolution airborne magnetic survey was flown over the Britt Lake, the Brazier South and North Agar claims collectively referred to as the "Wales Lake Project". Five targets are selected for further investigation, based on magnetic lineaments and regional uranium/thorium anomalies. There are two structural trends, oriented NNW-SSE and NW-SE identified in the project area, likely representing the main tectonic fabric of the Taltson Domain locally. On a regional scale, folding in the Taltson is along a NE-SW axis, identified by magnetic stratigraphic markers. The Wales Lake project is apparently at the closure of a regional fold axis which trends NE-SW. The two major structural elements are noteworthy: a structural corridor, oriented NNW-SSE which disrupts the magnetic stratigraphy and is magnetite-destructive, possibly indicative of alteration; and a tectonic break, oriented NW-SE which appears to be a boundary between basement lithologies. The geological exploration model is designed to test conductors and primarily fault-controlled basement-hosted mineralization such as Rabbit Lake (Eldorado), and Arrow (NexGen Energy) and Triple R (Paladin) occurrences that are hosted in the Taltson Domain. The scientific and technical information contained in this news release was prepared and approved by Locke Goldsmith, M.Sc., P.Eng., P. Geo., and who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Situated south of Wales Lake and positioned just outside the southwest margin of the Athabasca Basin, the Project is strategically located within the Patterson Lake Corridor which hosts two significant uranium deposits (Triple R Deposit, 2.2 Mt @ 1.58 U308 and 0.51 g/t Au & the Arrow Deposit which is the largest source of low-cost uranium globally, potentially delivering up to 30 million pounds of high-grade uranium per year). The deposits represent the largest high-grade uranium systems globally, comparable to world-class deposits such as McArthur River, Cigar Lake, and Key Lake. New Risk • Jun 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$975k 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$975k free cash flow). Earnings have declined by 55% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$12.8m market cap, or US$9.03m). New Risk • Jun 16
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: CA$13.7m (US$9.80m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 58% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$13.7m market cap, or US$9.80m). 
