Business
Golden Independence Mining Announces Proposed Name Change and Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - November 10, 2023) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NNA) (the "Company" or "G
About this update from Nexus Uranium Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - November 10, 2023) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NNA) (the \"Company\" or \"Golden Independence\") announces that it is proposing to change its name to \"Nexus Uranium Corp.\" (the \"Name Change\"). The Name Change is meant to reflect the Company's broader focus on its uranium and precious metals portfolio including the Wray Mesa uranium-vanadium project in Utah and potential future acquisitions in the uranium space. \"The strategic shift towards clean energy fuels, such as uranium, comes as a result of an extensive evaluation of opportunities to drive shareholder value,\" commented Jeremy Poirier, CEO and Director of Golden Independence Mining Corp. \"The current market fundamentals for uranium, highlighted by multi-decade highs in spot uranium prices coupled with a systemic market supply shortage, highlights the prospectivity of uranium projects and reinforces the decision to gain exposure to this market. Conversely, despite spot gold prices trading near historic levels around US$2,000 per ounce, gold-focused equities trade at the lower range of historical market valuations. While we believe our gold assets hold significant value in the long-term, we feel the diversification of commodity exposure allows shareholders to capture near-term value.\" Wray Mesa Uranium Project, Utah (Option to Acquire 90%) The Wray Mesa project is comprised of 308 unpatented lode claims totalling 6,282 acres located in San Juan County, Utah. The project was the subject of extensive historical exploration, including the drilling of over 500 holes, with mineralization ranging from 25 to 75 feet thick at depths of 500 to 700 feet. Mineralization is typical sandstone-hosted tabular deposits wherein the uranium occurs in reduced and altered sandstones and sandstone-mudstones in major stream channels in the Upper Salt Wash Member of the Morrison Formation. The property is contiguous to and adjoins Energy Fuel Inc.'s fully permitted and production-ready La Sal project which includes a number of past-producing uranium and vanadium mines (production of 550,000 lbs U3O8 in 2012). The Company has the option to acquire up to a 90%-interest through staged cash and share payments in addition to exploration commitments. The Company is reviewing all the historical data to priorit...