Duyuru • Jul 10
Basin Uranium Corp., Annual General Meeting, Aug 29, 2025 Basin Uranium Corp., Annual General Meeting, Aug 29, 2025. Duyuru • Jun 28
Nexus Uranium Corp. (CNSX:NEXU) entered into a definitive arrangement agreement to acquire Basin Uranium Corp. (CNSX:NCLR)) for approximately CAD 3 million. Nexus Uranium Corp. (CNSX:NEXU) entered into a definitive arrangement agreement to acquire Basin Uranium Corp. (CNSX:NCLR) for approximately CAD 3 million on June 25, 2025. The consideration consists of common equity of Nexus Uranium Corp. at a ratio of 1.1 per common equity of Basin Uranium. In addition, as part of the Arrangement, Basin shareholders will receive 3,000,000 shares common shares ("SpinCo Shares") of a subsidiary of Basin, ("Basin SpinCo"), on the basis of approximately 0.11 of a SpinCo Share for every Basin Share held. Following the completion of the Arrangement, former Basin shareholders will own approximately 40% of the then issued and outstanding Nexus Shares. Prior to the Arrangement, Nexus will transfer its: (i) Napoleon gold project, comprised on 1,281 hectares in the Kamloops Mining Division in British Columbia; and (ii) 100% interest in the Yukon gold mining quartz mining claims, to Basin SpinCo in exchange for 2,000,000 SpinCo Shares. Basin will be delisted from the CSE following the Arrangement.
Following completion of the Arrangement, Mike Blady, the Chief Executive Officer of Basin, will be appointed to the board of directors of Nexus, and the current members of the board of directors of Basin will resign. Nexus will continue to be managed by the current executive team and board of directors with the addition of Mr. Blady.
Closing of the Arrangement is subject to approval of the Basin shareholders, approval of the Supreme Court of British Columbia, approval of the Canadian Securities Exchange, standard closing deliverables, and other customary conditions typical for a transaction of this nature. A special committee comprised of independent directors of Basin, established to review the Arrangement, has engaged a financial advisor, Evans & Evans Inc., to provide a fairness opinion in connection with the Arrangement. New Risk • May 08
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$2.1m 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$2.1m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 53% per year over the past 5 years. Shareholders have been substantially diluted in the past year (47% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.83m market cap, or US$2.76m). New Risk • Apr 07
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 18% 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$3.17m market cap, or US$2.23m). New Risk • Feb 06
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% 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 Earnings have declined by 54% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$5.25m market cap, or US$3.67m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Duyuru • Jan 23
Basin Uranium Corp. announced that it has received CAD 0.69975 million in funding On January 22, 2025 Basin Uranium Corp. closed the transaction and issued 4,664,999 units at issue price of CAD 0.15 per unit for gross proceeds of CAD 699,749.85. Each Unit is comprised of one common share in the capital of the Company and one Common Share purchase warrant. Each Warrant entitles the holder thereof to acquire one additional Common Share at a price of CAD 0.20 per Warrant Share until January 22, 2028. All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. n connection with the closing of the Offering, the Company paid cash finder’s fees in the amount of CAD 7,470 and issued 69,799 finder’s warrants to certain eligible arm’s length finders. Each Finder’s Warrant entitles the holder to acquire one additional Common Share Share at a price of CAD 0.20 per Finder’s Warrant Share until January 22, 2028. Certain insiders of the Company subscribed to the Offering for an aggregate of 300,000 Units. New Risk • Dec 26
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 Risks Earnings have declined by 52% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$4.53m market cap, or US$3.16m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Duyuru • Dec 24
Basin Uranium Corp. announced that it expects to receive CAD 0.75 million in funding Basin Uranium Corp. announced a non brokered private placement of up to 5,000,000 units at a price of CAD 0.15 per Unit for gross proceeds of up to CAD 750,000 on December 23, 2024. Each Unit will be comprised of one common share and one Common Share purchase warrant. Each Warrant will entitle the holder thereof to acquire one additional Common Share at a price of CAD 0.20 per Warrant Share for a period of 36 months from the closing date of the Offering. The Offering may close in one or more tranches as the Company may determine. The Company may pay a finder's fee in connection with the Offering to eligible arm's length finders in accordance with the policies of the CSE. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day following the date of issuance in accordance with applicable securities legislation. The Offering is not subject to a minimum aggregate amount of subscriptions. Duyuru • Jun 13
Basin Uranium Corp. Provides an Update on Permitting for the Company's Flagship Chord Uranium Project in South Dakota BASIN URANIUM CORP. provide an update on permitting for the Company's flagship Chord uranium project in South Dakota. The Company has submitted a permit application for the drilling of 17 holes for a total of approximately 9,000 feet with the objective of upgrading the existing NI 43-101 Inferred Resource to Measured & Indicated, expand the known mineralization at October Jinx, perform pump tests to assess the amenability for ISR (in-situ recovery), characterize the aquifer(s) and install monitoring wells for future development. This application is in addition to the Company's announcement on April 30th, 2024, which was for permitting on the 640-acre state section (Section 36-7S-2E). Duyuru • May 10
Basin Uranium Corp. Announces Maiden Mineral Resource Estimate At Its Chord Uranium Project Basin Uranium Corp. announced an initial mineral resource estimate (MRE) for its Chord uranium project located in Fall River County, South Dakota, USA. This MRE incorporates the Company's historic data set acquired through private and public sources and provides a path to expand and build towards a much larger, potentially in-situ recoverable (ISR) resource. The MRE was prepared by BRS Engineering Inc. in accordance with NI 43-101, Standards of Disclosures for Mineral Projects. Mining in the project area was primarily limited to small sized open pit methods, and focused on the uppermost, oxidized mineral horizons within the Inyanara Group. The deeper mineral horizons, particularly with the October-Jinx area were left undeveloped but were strongly explored by Union Carbide Corporation in the late 1970's. Domestically sourced, secure uranium supplies are becoming more crucial as global conflicts continue to fester and industry supply is squeezed by insatiable demand. Global transitions to a 'green economy' will only exacerbate this demand as nuclear energy is the only true carbon free source of safe, reliable baseload power currently. A disequilibrium factor of 1 was applied to the resulting eU3O8 intercept dataset. An intercept grade cutoff of 0.02% eU3O8 was applied to the grade data to screen for intercepts which are not economically extractable by conventional heap or milling methods. intercept data meeting the grade cutoff criteria were split into mineral horizons based on 3-dimensional interpretation of geological units and were composited and modeled within each horizon using a minimum 0.1 GT cutoff, a maximum vertical distance of 10 feet between intercepts, and a maximum radius of influence of 200 feet between drill holes. Three Mineralized Horizons were identified by 3-dimensional interpretation and modeled: Horizon A being the highest in elevation, C being the lowest in elevation and B residing between A and C. 12. These mineral horizons are variably present within the three project areas: October-Jinx, Viking, and Ridge Runner. Resources are presented as undiluted and in-situ, are constrained by the GT contour model for each mineral horizon, and. The Qualified Person is not aware of environmental, permitting, legal, title, taxation, socio- political, marketing, or other relevant issues that could materially affect the potential development of the Mineral Resources. The NI 43-101 technical report for the MRE will be accessible on SEDAR+ under the company's issuer profile and the company's website within 45 days of this news release. Chord Project, South Dakota. The Chord Project consists of 3,640 contiguous acres. The project lies on the southern end of the Black Hills, in Fall River County, South Carolina approximately seven miles north of Edgemont. Mineralization is sandstone-hosted, and channel-bound into tabular and lenticular deposits within the Lakota and Fall River formations of the Inyanara Group. A radiometric disequilibrium factor of 1 were applied to the resource estimate. The minimum uranium grade included in the estimate was 0.02% e3O8. Mineral resources are reported at a minimum grade thickness (GT) value of 0.25. Basin Uranium has not conducted exploration on the Chord Uranium has not conducted exploration On the Chord Uranium Project to date. Data resulting from historic exploration has been provided to the author in the form of resource review reports, drilling maps and geophysical logs. This data was secured by Basin from publicly available data preserved by the South Dakota Geologic Survey and other data from private parties. Historic drilling was generally done by vertical rotary drilling with occasional core sampling for physical and metallurgical analysis. It was industry standard at this time to log drill holes using downhole geophysical logging tools including passive gamma, spontaneous/self-potential and resistivity. Drill holes were logged by Century Geophysical, who remains an industry leader in the industry leader in the future. Board Change • May 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Director Des Balakrishnan is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Apr 19
Basin Uranium Corp. Announces Board Appointments Basin Uranium Corp. announced the formation of an advisory board to advance its US-focused uranium assets with the appointment of two industry veterans: Mr. Dan McCarn, CPG and Mr. John Glasscock. Mr. Dan McCarn has over 30 years of experience in the nuclear, petroleum, minerals and environmental industries. Mr.McCarn has been involved both from a project or operating company level through to permitting and technical evaluation, to regulatory oversight with international agencies. Dan's experience includes working with AREVA as an exploration manager in Central Asia focusing on exploration and development for in situ recovery (ISR) uranium projects in Kazakhstan. Dan also has experience in permitting and environmental analysis of ISR uranium projects in the USA with the Crownpoint /Churchrock project in New Mexico, as well as working with companies including China National Nuclear Corp. and the US Department of Energy (DOE). Mr. McCarn also has worked extensively with the International Atomic Energy Association (IAEA) in the evaluation of uranium projects in China, Kazakhstan, Czech Republic, Russia, and in the Continental United States. John Glasscock is an exploration geologist with a career spanning over 35 years managing projects that targeted multiple deposit models located mostly in the US western states, Alaska, Minnesota, El Salvador, Mexico, the PRC, and Northern Ireland. Mr. Glasscock also designed and managed groundwater site assessments for the Florida DEQ and completed a large RCRA facility investigation for Mariah Environmental. From 1995 to 2018 he was president of Cowboy Exploration and Development LLC, a consulting and project generation group employing numberous geologists, GIS/graphics administrators as well as contract geo technicians. During the previous uranium cycle from 2004-2009 Cowboy provided services to High Plains Uranium and Tournigan Energy for which John directed US acquisitions and exploration drilling programs for uranium in Wyoming, South Dakota, and Arizona. Duyuru • Mar 28
Basin Uranium Corp., Annual General Meeting, May 31, 2024 Basin Uranium Corp., Annual General Meeting, May 31, 2024. New Risk • Jan 30
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$1.5m 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$1.5m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 35% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$6.60m market cap, or US$4.93m). Duyuru • Dec 14
Basin Uranium Corp. Successfully Confirms the Presence of A Significant Amount of Water in Multiple Monitoring Wells Across the Chord Uranium Project in South Dakota Basin Uranium Corp. announced it has successfully confirmed the presence of a significant amount of water in multiple monitoring wells across the Chord Uranium Project (the "Property") in South Dakota. The confirmatory sampling of these wells continues to demonstrate potential for mineralization to be amenable to in-situ recovery (ISR) methods for at least the lower portions of the mineralization. The Company sampled two existing monitoring wells across the Chord project, both of which confirmed the presence of a significant amounts of water. Monitoring well B-5, which is located on the southwestern and down dip edge of the October-Jinx mineralized body, was measured to a depth of 496 feet and was terminated in the Lakota Formation which is the same formation that is host to the uranium mineralization on the Property. The bottom 100 feet of the well contained ground water which was sampled with analytical results demonstrating the presence of anomalous concentrations of uranium, dissolved solids, sulfate and radionuclides (gross alpha, gross beta and radionuclides (gross beta and radium-226). The combination of a significant hydraulic head from the bottom 5 feet of the well in addition to the presence of anomalous concentration of uranium and radionuclides continue to support the viability of the mineralization to be am enable to insitu recovery methods. Monitoring well B-4 was located within the Viking mineralized body, approximately two miles to the northwest, was drilled to 315 feet with a 5 five screened interval, contained 40 feet of groundwater. Overall, results from the hydrology and water sampling of wells B-4 and B-5 were in line with historic test work completed by Union Carbide in the late 1970's and subsequent consultants in the 1980's (Cohan, 1984). The Company cautions that additional tests are required to validate these results in addition to the drilling of new monitoring wells to properly characterize the aquifer and define the parameters for insitu recovery. In general, to support the use of ISR methods, hydrogeologic data is required to demonstrate the following: Permeability of the mineralized horizon; Hydrologic confinement of the mineralized horizon; and Ability to return groundwater within the mined area to its original baseline quality and usage. Duyuru • Nov 23
Basin Uranium Corp. (CNSX:NCLR) acquired An additional 640 acres contiguous to flagship Chord Uranium Project in South Dakota. Basin Uranium Corp. (CNSX:NCLR) acquired An additional 640 acres contiguous to flagship Chord Uranium Project in South Dakota recently. The additional 640 acres were acquired via way of Mineral Rights Lease Auction with notice published on September 28, October 5, and October 12 in the Fall River County Herald Star. Duyuru • Oct 13
Basin Uranium Corp. announced that it has received CAD 0.65 million in funding On October 12, 2023, Basin Uranium Corp. closed the transaction. In connection with the closing of the offering, the company paid cash finder's fees in the amount of CAD 2,580 and issued 102,273 finder's warrants to certain eligible arm's length finders. Duyuru • Sep 19
Basin Uranium Corp. announced that it expects to receive CAD 0.65 million in funding Basin Uranium Corp. announced a non-brokered private placement of up to 5,416,667 units at a price of CAD 0.12 per unit for gross proceeds of up to CAD 650,000 on September 18, 2023. Each unit will comprise one common share and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of CAD 0.25 per warrant share for a period of 30 months from the date of issuance. The trasnaction may close in one or more tranches. The company may pay a finder's fee in connection with the transaction to eligible arm's length finders in accordance with the policies of the Canadian Securities Exchange. All securities issued in connection with the transaction will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws. Duyuru • Jan 24
Basin Uranium Corp., Annual General Meeting, Apr 03, 2023 Basin Uranium Corp., Annual General Meeting, Apr 03, 2023. Duyuru • Nov 29
Basin Uranium Corp. Completes 2022 Drilling at Mann Lake Uranium Project Skyharbour Resources Ltd.’s partner company, Basin Uranium Corp. has completed 2022 drilling at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco’s Millennium uranium deposit. In total 6,279 metres were drilled 2022 over two phases of drilling. Phase two consisted of 2,776 metres of diamond drilling over four holes which followed up on targets from phase one drilling and geophysical programs completed earlier in the year. The Mann Lake camp has been demobbed for the winter and all drill sites have been reclaimed. All core samples have been submitted to the Saskatchewan Research Council (SRC) for analysis and the assays are pending and will be released once received. Phase Two Drill Highlights: Holes MN22007 and MN22008 targeted an interpreted basement conductor (2022 MT resistivity survey), magnetic low (interpreted metasediment basement) within a gravity low anomaly which was interpreted as a basement fault structure and successfully intersected uranium dominant, anomalous radioactive intervals in the basement rocks as well as just above the unconformity. Hole MN22007 intersected graphite enriched psammite throughout the entirety of the basement rocks. Two major fault structures with abundant graphite mineralization were intercepted in the basement. Hole MN22008 intersected abundant blue-grey dravite clay above the unconformity. The mineralization was focused predominantly along fracture surfaces. Potential graphite could be present in the dravite due to the blue-grey colour of the clay. Duyuru • Nov 17
Basin Uranium Corp. announced that it has received CAD 1.602245 million in funding On November 16, 2022, Basin Uranium Corp. closed the transaction. The company has issued 763,966 units for gross proceeds of CAD 564,595 in its second tranche. The company has issued a total of 10,013,236 units and 557,000 flow-through shares for aggregate gross proceeds of CAD 1,602,245. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Director Des Balakrishnan is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Duyuru • Sep 24
Basin Uranium Corp. announced that it expects to receive CAD 1 million in funding Basin Uranium Corp. announced a non-brokered private placement of units at a price of CAD 0.15 per unit for gross proceeds of CAD 1 million on September 23, 2022. Each unit will comprise one common share in the capital of the company and one share purchase warrant. Each warrant is exercisable to purchase one additional share for a period of 24 months from the closing date at an exercise price of CAD 0.25 per share. The transaction is expected to close on or about October 11, 2022 and is subject to receipt of all necessary regulatory approvals, including the Canadian Securities Exchange. The units the company that are issuable upon exercise of the warrants will be subject to a hold period of four months and one day in accordance with applicable securities laws. Duyuru • Sep 21
Basin Uranium Corp. Commences Its Phase Two Diamond Drilling Program At Mann Lake Skyharbour Resources Ltd.'s partner company, Basin Uranium Corp. announced the commencement of a phase two diamond drilling program at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco's Millennium uranium deposit. Highlights: Phase two drilling is designed to follow-up on exciting targets generated from phase one drilling and recently completed geophysical surveys at Mann Lake; Approximately 4,000 metres of core drilling is planned for phase two covering the southern portion of the project; The first hole of phase two will follow-up on uranium mineralization in hole MN22-002 (see Company's news release dated September 7, 2022); Drilling will also test conductive zones and structures identified in this summer's Mobile MT survey along the unconformity contact that corresponds to prevalent gravity lows located near the southeastern portion of the project. Duyuru • Sep 14
Basin Uranium Completes Geophysical Surveys At Mann Lake BASIN URANIUM CORP. announced the completion of a ground based gravity survey and a heliborne Mobile MT Electromagnetic and Magnetic survey at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco's Millennium uranium deposit. The recently collected and interpreted geophysical data has generated new drill targets over prospective areas on the Mann Lake property. The Phase two drill program will test the potential for uranium mineralization along interpreted lineament or structural corridors at the unconformity and in the basement, that correspond with resistivity and magnetic lows and the margins of gravity lows. The Mobile MT survey successfully identified conductive zones and structures along the unconformity contact and deeper in the basement. These conductive zones are prospective for graphite and/or its breakdown products, which are considered to be responsible for uranium mineralization. In addition, deep structures within the basement allow for fluid migration, which can create pathways for the precipitation of uranium mineralization along the unconformity contact and within the basement rocks. The purpose of the Mobile MT survey was to identify deep structures along the unconformity and in the basement, including possible alteration and mineralization zones. A total of three production flights were flown to complete 376 line-kilometers of the survey over a 70 km2 area. The main conductors along the unconformity contact are shown as resistivity lows (blue) in the accompanying map . The Mobile MT apparent conductivity and magnetics data have also delineated NE and NW trending prospective structures that cross-cut the basement throughout the property. Multiple gravity low anomalies are defined along the southern and south-eastern portions of the tenure. Gravity lows are prospective in uranium exploration, as they can correlate to a de-silicification of the rocks that may indicate the presence of a fault structures, which are prospective for graphite and/or uranium mineralization. MWH Geo-Surveys completed a 2539 station gravity survey over the southern portion of the Mann Lake tenure in July 2022. Results were merged with the historic (2006, 2008) gravity survey data, to complete the coverage over the central and southern portions of the property. Duyuru • Sep 08
Skyharbour’S Partner Company Basin Uranium Corp. Announces Intersection of Significant Mineralization from Phase 1 Drilling At Mann Lake Skyharbour Resources Ltd. partner company, Basin Uranium Corp. announced the intersection of significant uranium mineralization from the five-hole, phase one drill program at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco’s Millennium uranium deposit. Phase One Drilling Highlights: 323 ppm U3O8 over 0.5 metres, intersected 30 metres below the unconformity within a broader 7.2-metre interval of anomalous uranium and graphite mineralization in hole MN22002. Additionally, 46 ppm U3O8 over 0.5 metres intersected 8 metres below the unconformity and immediately beneath a strongly sericite bleached shear zone in hole MN22004. Significant boron (B) mineralization, which serves as a pathfinder element for uranium deposits, with over 1,000 ppm B encountered at the unconformity in hole MN22005, 525 ppm B encountered at the unconformity in hole MN22001 and 319 ppm B in dravite (boron-rich clay) below the unconformity in hole MN22003. Significant rare earth elements (REE’s), including a highlight value of 5,028 ppm over 0.5 metres within a broader 50-metre interval of anomalous mineralization starting 20 metres below the unconformity in hole MN22003. Statistical analysis demonstrates correlation between anomalous concentrations of pathfinder elements (B, Co, Cu, Ni, and Pb) associated with the anomalous uranium mineralization. Pathfinder elements are widely regarded as guides to the discovery of unconformity-style uranium deposits and provide further evidence of the presence of fluid movement potentially related to a uranium mineralizing system. A phase two drill program at Mann Lake is planned to commence shortly to follow-up on the encouraging results from phase one. It will also incorporate targets generated from the recently completed geophysical surveys on the property which include gravity and airborne mobile magnetotellurics (mobile MT). The results of these surveys are currently being analyzed and incorporated into historic geophysical surveys with results anticipated to be released in the near-term. Duyuru • Jul 01
Basin Uranium Corp. Announces Changes to Its Board of Directors BASIN URANIUM CORP. announced the appointment of Clayton Olson to its Board of Directors. Mr. Olson will act as an independent director and is expected to serve as a member of Company's audit committee. Mr. Olson is a seasoned business professional and currently serves as an Associate Director with Altus Group, specializing in property tax consulting, real estate appraisal and tax appeal advocacy. Prior to joining Altus Group at the beginning of 2022, he spent 11 years in a variety of roles at BC Assessment, specializing in the appraisal and appeal defense of large industrial, commercial and investment properties. Mr. Olson currently sits on the Board of Governors for the Real Estate Institute of BC, where he serves as Secretary Treasurer. He received his BBA from Thompson Rivers University, and later received his Post Graduate Certificate in Property Valuation from University of British Columbia. Basin Uranium also announced the resignation of Kevin Ma from the board of directors. Duyuru • Jun 17
Basin Uranium Commences Geophysical Survey At Mann Lake BASIN URANIUM CORP. announce the commencement of geophysical surveying at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco's Millennium uranium deposit. The geophysical program consists of 350-line-kilometres of airborne mobilemagnetotellurics (mobile MT) flown at 200-meter line spacing. A comprehensive ground-based gravity survey will also be commencing in the coming weeks.Expert Geophysics Limited (EGL) is a geophysical company specializing in airborne geophysical surveys worldwide with advanced electromagnetic systems. EGL will be flying approximately 350-line- kilometres of mobile magnetotellurics (mobile MT), which is used to detect where basement features coincide with graphitic zones - the most significant marker for identifying prospective uranium deposits. This survey is superior to other airborne electromagnetic (EM) surveys given greater depth of investigation and sensitivity in conductive environments and under conductive units. Duyuru • Jun 01
Basin Uranium Corp. Completes Phase One Drilling At Mann Lake Basin Uranium Corp. has completed its phase one 2022 drill program at its Mann Lake project located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco's Millennium uranium deposit. The phase one program consisted of 5 holes totalling 3,503 meters with the unconformity being intersected between 608 meters to 651 meters in all holes. This was the first significant drill program undertaken on the property since 2007. The second phase of drilling is planned for the fall of this year and will consist of approximately 3,500 meters. Results from both the phase one drill program and upcoming geophysical surveys at Mann Lake will be used for targeting and follow-up in the second phase. The geophysical program, consisting of gravity and airborne mobile magnetotellurics (mobile MT) surveying, is anticipated to commence in early June. Was drilled to test an interpreted basement conductor (2014 MT resistivity survey) corresponding with ground UTEM conductor (A3), a mag low interpreted to be a metasediment basement host and a gravity low interpreted as a basement fault structure. This hole was successful in crossing the unconformity and intersecting weakly anomalous radioactive values. It also intersected graphite mineralization along fracture planes and foliation, indicating the potential for nearby uranium mineralization. Was designed to test the same conductor and geophysical setting as hole MN22001, collared 400 meters to the N-NE. It was successful crossing the unconformity and entering basement metasediments (mostly psammite) as well as locating anomalous radioactive values with the handheld scintillometer and downhole probe. Monazite and allanite mineralization at the anomaly was also observed. Graphite mineralization was also noted in basement psammites along foliations and within some fractures. Was a step-out of 350 meters to the NNE of MN22002 and was designed to test the same conductor and geophysical setting. Blood-red hematite paleoweathering at the unconformity and silica mottling have overprinted the texture of the psammite directly below the unconformity. Dravite-clay alteration can be found within fractures throughout the paleoweathered section and decreasing in prevalence with depth. This hole was successful in crossing the unconformity and intersecting radioactively anomalous intervals with allanite mineralization. Intervals within the basement rocks were found to contain graphite and dravite mineralization. Was a 150 meter step-out along the conductor and strike of MN06-003A which intersected 12 meters of hematized paleoweathering up hole of the unconformity which returned gamma probe readings of 1,250cps. An interpreted basement conductor, mag low and gravity low were present. While the hole did not intersect any lithology resembling the target Wollaston Group metasediments. The intersection of minor monazite mineralization, in close proximity to strong clay alteration, remains a potentially interesting indication of a uranium mineralization nearby. This hole was designed to test the intersection of a NE-trending structure parallel to MN06-005 which returned over 1,000 ppm boron and 720cps at the unconformity, and a cross cutting E-W trending structure on strike to MN06-002 where 750cps and hematite paleoweathering occurred at the unconformity. The hole was successful in intersecting a strongly hematite altered basement fault structure up hole and in close proximity to the unconformity. There was also a small interval of granitized strongly foliated metapelite intersected just below the unconformity, followed by granitic gneiss with intercalated pegmatites to the end of hole. Within the granite basement, clay dravite mineralization occurred, coating the surfaces of several low angle fractures between 652-663m. Duyuru • May 12
Basin Uranium Corp. (CNSX:NCLR) completed the acquisition of Wray Mesa Uranium Project in Utah. Basin Uranium Corp. (CNSX:NCLR) entered into a Letter of Intent to acquire Wray Mesa Uranium Project in Utah on January 27, 2022. The LOI is subject to the formation of a Definitive Agreement within 45 days in addition to due diligence and regulatory or exchange approval.
As of January 29, 2022, Basin Uranium Corp. (CNSX:NCLR) entered into a definitive agreement to acquire Wray Mesa Uranium Project in Utah for CAD 3.3 million. Under the executed Definitive Agreement, Basin Uranium Corp. is acquiring all of the issued and outstanding securities for 4,268,529 million shares of Basin Uranium Corp. as well as 250,000 shares to the original property vendor. The shares issued in conjunction to the acquisition will be subject to the following restrictions on transfer: 50% will be free trading on issuance with further tranches of 10% to be released monthly starting on the fifth month anniversary of closing. As of May 10, 2022, Basin Uranium issued 4,250,003 million shares of Basin Uranium Corp. as well as 250,000 shares to the original property vendor in consideration for the acquisition. Basin will be required within 18-months of closing to complete a minimum CAD 1 million exploration program on the Property. The property is subject to a 1.25% net smelter return royalty on future production of which sixty percent of the royalty (being 0.75%) can be repurchased for CAD 500,000 and the remaining forty percent of the royalty (being 0.5%) can be can be repurchased for CAD 750,000. The transaction is expected to close within the coming days and is subject to customary closing conditions including the shareholder approval of target, regulatory and exchange approval.
Basin Uranium Corp. (CNSX:NCLR) completed the acquisition of Wray Mesa Uranium Project in Utah on May 10, 2022. Duyuru • May 06
Basin Uranium Corp. Announces Completion of Second Drill Hole At Mann Lake Uranium Project, Saskatchewan Skyharbour Resources Ltd.’s partner company, Basin Uranium Corp. announce it has completed the second diamond drill hole at the Mann Lake uranium project in Saskatchewan’s prolific Athabasca Basin. The Mann Lake project is located 25 km southwest of the McArthur River Mine and 15 km to the northeast along strike of Cameco’s Millennium uranium deposit. The second hole was collared and completed to a target depth of 683 metres, having intersected the unconformity at approximately 631 metres vertical depth entering a metasediment horizon that extended for 30 metres before transitioning into a granitic gneiss. Within the metasediment horizon, a five-metre section of sericite-chlorite-hematite altered psammite was intersected. Local allanite mineralization surrounded by intense hematite alteration was noted within this horizon. The hole was designed to test an interpreted basement conductor, identified from a 2014 magnetotellurics (MT) resistivity survey, which corresponds with a ground UTEM conductor and magnetic low (interpreted metasediment basement) and along the edge of a gravity low. The hole is now being logged, sampled, and will be sent out with the first shipment of samples to the Saskatchewan Research Council for chemical assays. The rig has now moved to the third located and has been collared and will be coring to a planned depth of approximately 700 metres. Board Change • Apr 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Kevin Ma is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Duyuru • Apr 22
Basin Uranium Corp. Commences Its Spring 2022 Diamond Drilling Program At the Mann Lake Uranium Project Skyharbour Resources Ltd.'s partner company, Basin Uranium Corp. announced it has commenced its spring 2022 diamond drilling program at the Mann Lake uranium project in Saskatchewan's prolific Athabasca Basin. The Mann Lake project is located 25 km southwest of the McArthur River Mine, and 15 km to the northeast along strike of Cameco's Millennium uranium deposit. Bryson Drilling Ltd. is providing diamond drilling services under the supervision of TerraLogic Exploration Inc. With over 100 years of combined experience, Bryson Drilling is a locally owned Saskatchewan family-based business with vast experience in the Athabasca Basin drilling for some of the largest exploration and mining companies in the province. Duyuru • Apr 15
Basin Uranium Announces Camp Completion and Mobilization of Exploration Crews to Mann Lake Basin Uranium Corp. announced its exploration plan for its Phase 1 program at its Mann Lake uranium project in Saskatchewan's prolific Athabasca Basin. The Mann Lake project is located 25km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast along strike of Cameco's Millennium uranium deposit. The Phase I exploration program will build off work done by previous operators and will consist of a moving loop electromagnetic survey, gravity survey and diamond drilling. Geophysical surveys will be focused on the southern half of the property and will integrate previous and regional surveys to vector in on what the Company believes to be the most prospective area of the property for regional conductive corridors which can host unconformity style uranium deposits. To date the southern half of the property has seen little exploration and no diamond drilling. Regional conductive corridors are known to exist on the southern part of the Mann Lake property. These conductors are believed to correspond with Wollaston Supergroup graphitic metasedimentary basement, a fertile host for uranium mineralization. The Company will be targeting these structures in combination with overlying gravity and magnetic lows in its Phase I drilling over a 2.0-kilometer-long corridor. The program will be conducted in two phases, a spring (Phase I) and late summer/fall (Phase II) program, which will allow the Company time to compile and process exploration data to improve targeting. In total, the Company has budgeted a minimum of $3.5 million dollars for exploration at Mann Lake this year. Duyuru • Feb 18
Basin Uranium Corp. Announces Board Changes Basin Uranium Corp. announced the Company has appointed Jonathan Hamway to the Board of Directors. Mr. Hamway replaces David Goertz who did not stand for re-election at the Company's AGM held on January 7th, 2022.Jonathan Hamway has been a corporate consultant to public and private natural resource companies for over a decade. He is the Founder and CEO of Kincort Capital Partners Ltd., a strategic advisory firm and merchant bank, catered exclusively for junior mining and exploration companies. Duyuru • Jan 28
Basin Uranium Corp. (CNSX:NCLR) entered into a Letter of Intent to acquire Wray Mesa Uranium Project in Utah. Basin Uranium Corp. (CNSX:NCLR) entered into a Letter of Intent to acquire Wray Mesa Uranium Project in Utah on January 27, 2022. The LOI is subject to the formation of a Definitive Agreement within 45 days in addition to due diligence and regulatory or exchange approval. Board Change • Dec 22
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Kevin Ma is the most experienced director on the board, commencing their role in 2020. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Duyuru • Dec 08
Basin Uranium Corp. announced that it has received CAD 3.6096 million in funding On December 7, 2021, Basin Uranium Corp. closed the transaction. The company issued 5,640,000 charity flow through units at a price of CAD 0.64 per unit for gross proceeds of CAD 3,600,000. All securities issued in the offering are subject to a statutory hold period expiring on April 8, 2022. 