Fulcrum Metals plc has exercised an option to acquire a 100% interest in the Charlot-Neely Lake, South Pendleton and Snowbird uranium projects in Saskatchewan, Canada.
AGREEMENT
The projects, covering 11,481 hectares, were owned by Gary Clayton Dunn and Jonathan Stewart Dunn who granted the Dunn option to Fulcrum.
Fulcrum previously paid C$5,000 on receiving the option and on exercise a further C$60,000 cash.
The company said that it was a step closer to a definitive agreement with Terra Balcanica Resources Corp. over the sale of all its uranium projects of Charlot-Neely Lake, Fontaine Lake, Snowbird and South Pendleton covering 59,000 ha.
Fulcrum expects completion of the definitive agreement imminently.
Panther Metals plc owns 7,625,122 ordinary shares in Fulcrum representing a 15.26% interest in the entire issued share capital of Fulcrum.
Panther also holds 714,286 warrants exercisable at 17.5p with a two-year life from 14 February 2023 and a further 476,190 warrants exercisable at 26.25p with a three-year life.
The company also retains a 2% net smelter return royalty over the Big Bear polymetallic project situated over the western end of the Schreiber-Hemlo greenstone belt.