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Global Energy Metals Invests In Uranium Sector; Enters Agreement To Acquire Royalty And Option On Saskatchewan-Based Uranium Portfolio
(TheNewswire) Vancouver, BC / TheNewswire / January 30, 2023 / Global Energy Metals Corpora...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Invests In Uranium Sector; Enters Agreement To Acquire Royalty And Option On Saskatchewan-Based Uranium Portfolio\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC /\nTheNewswire / January 30, 2023 / Global Energy Metals Corporation\nTSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the\n“Company” and/or “GEMC”)\n \n \n , a multi-jurisdictional, multi-commodity\ncritical mineral exploration and development company focused on\ngrowth-oriented metal projects supporting the global transition to\nclean energy, is pleased to announce, subject to TSX Venture Exchange\napproval, that it has entered into a non-binding Letter of Intent (the\n“Agreement”) with the wholly owned subsidiary of\n \n \n \n \n Fulcrum Metals Plc,\n(“Fulcrum”) a company with shares that are quoted on the AIM\nmarket of the London Stock Exchange\n \n \n \n \n \n .\n \n \n \n \n Pursuant to the Agreement, Global Energy Metals\nwill acquire an immediate 0.5% royalty on net smelter returns (the\n“NSR”) in Fulcrum’s\n \n \n \n \n \n Charlot-Neely, Fontaine Lake, Snowbird and South\nPendleton uranium projects\n \n \n \n \n \n (collectively the\n“Projects”) located in Saskatchewan, Canada.  GEMC will also be\ngranted an option  to acquire a 19.9% interest in the Projects as\nmore particularly described below. Some of the Projects are owned 100%\nby Fulcrum (the “Owned Projects”), and others are optioned by\nFulcrum (the “Optioned Projects”), which has obtained the consent\nof the optionor to the assignment of the option to GEMC.\n \n \n \n \n \n \n Highlights:\n \n \n \n \n \n \n \n \n Located in proximity to the rim of the\nAthabasca Basin (“Basin”), Saskatchewan,  a premium mining\ndistrict and leading global source of high-grade\nuranium.\n \n \n \n \n \n \n \n \n High grade uranium samples of up to\n6.22% at Charlot-Neely and up to 1.44% at Fontaine-Lake along with\nanomalous rare earth samples.\n \n \n \n \n \n \n \n \n Historical work at the projects has\ndemonstrated evidence of uranium mineralization along favourable\nstructural trends.\n \n \n \n \n \n \n \n \n Future exploration requires the\nundertaking ...