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North Shore Uranium Ltd. Announces Extension to Falcon Property Option Agreement and Provides Falcon Exploration Update
VANCOUVER, BC / ACCESS Newswire / May 27, 2025 / North Shore Uranium Ltd. (TSXV:NSU) (" Nort...
About this update from North Shore Uranium Ltd
[{"type":"text","content":"North Shore Uranium Ltd. Announces Extension to Falcon Property Option Agreement and Provides Falcon Exploration UpdateVANCOUVER, BC / ACCESS Newswire / May 27, 2025 / North Shore Uranium Ltd. (TSXV:NSU) (\"North Shore\" or the \"Company\") is pleased to announce that the term of the South Falcon Option Agreement (the \"Agreement\") with Skyharbour Resources Ltd. (\"Skyharbour\") has been extended from three to four years. The Agreement governs exploration activities on 11 of the 15 mineral claims that constitute the Company's Falcon property (\"Falcon\" or the \"Property\") located in the Athabasca Basin region of Saskatchewan. North Shore is currently preparing for future exploration programs at Falcon.SOUTH FALCON OPTION AGREEMENT AMENDMENTOn May 26, 2023, North Shore Energy Metals Ltd., a wholly owned subsidiary of the Company, entered into the Agreement with Skyharbour. Under the terms of the Agreement, the Company has the right to earn up to a 100% interest in 11 Falcon claims totaling 42,512 hectares by completing certain cash payments, share issuances and exploration expenditure commitments over a three-year period commencing on October 31, 2023. The layout of the 11 claims is shown in Figure 1. The Agreement has been amended, with the term being extended from three to four years. Commitments formerly required on or before October 31, 2025, are now due on or before October 31, 2026, and commitments required by October 31, 2026, are now due on or before October 31, 2027. In consideration for the term extension, North Shore has agreed to issue Skyharbour 500,000 common shares (the \"Consideration Shares\") of the Company at a deemed price of $0.035 per Consideration Share. Issuance of the Consideration Shares is subject to the approval of the TSX Venture Exchange. The Consideration Shares are subject to a four-month plus one-day hold period upon issuance.Brooke Clements, President and CEO of North Shore stated: \"We are pleased with the extension on the term of the Agreement with Skyharbour from three to four years. The extra time will allow us to optimize our systematic and efficient exploration programs at Falcon. Our team believes that Saskatchewan's Athabasca Basin is the best jurisdiction in the world for uranium exploration and development and that our work has shown that Falcon offers great potential for a new signf...