Business
Uranium Royalty Corp. Completes Acquisition of Royalties on McArthur River and Cigar Lake Mines from Reserve Minerals Corp. and Secures Option on Dawn Lake Project
Uranium Royalty Corp. Completes Acquisition of Royalties on McArthur River and Cigar Lake...
About this update from Uranium Royalty Corp
[{"type":"text","content":"\n \n \n \n Uranium Royalty Corp. Completes Acquisition of Royalties on McArthur River and Cigar Lake Mines from Reserve Minerals Corp. and Secures Option on Dawn Lake Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n May 10, 2021\n \n /CNW/ - Uranium Royalty Corp. (TSXV: URC) (Nasdaq: UROY) (\"URC\" or the \"Company\") is pleased to announce it has completed the previously announced acquisition of royalty interests on the McArthur River and Cigar Lake Mines in\n \n Saskatchewan, Canada\n \n . In addition, pursuant to the transaction the Company acquired an option to acquire a royalty on the Dawn Lake project, located in\n \n Saskatchewan, Canada\n \n .\n \n \n \n \n Highlights\n \n \n \n \n \n \n Royalty exposure to world-class and long-life mines\n \n : The McArthur River and Cigar Lake mines rank as the two largest high-grade uranium mines in the world, with ore grade 100 times world averages as disclosed by Cameco. Based on disclosed production capacities, the mines have the combined capacity equal to 21% of global forecasted uranium demand (2021)\n \n 1\n \n ;\n \n \n \n \n \n Embedded exploration upside to a substantial land package in\n \n Canada's\n \n leading uranium district\n \n \n :\n \n The acquisition provides royalty exposure to over 300,000 hectares of ground in the highly prospective\n \n Athabasca\n \n Basin, with well respected operators, and in one of the top mining jurisdictions in the world.\n \n \n \n \n \n Dawn Lake Project\n \n : URC acquired an option to purchase an additional 20% net profit interest (NPI) on a 7.5% share of overall uranium production from the Dawn Lake project lands. The royalty rate adjusts to 10% in the future upon production of 200 Mlbs from the combined royalty lands of the Dawn Lake and Waterbury/Cigar Projects (93 Mlbs produced to date according to Cameco's disclosure).\n \n \n \n \n Amir Adnani\n \n , Chairman of URC, commented: \"\n \n Canada's\n \n \n Athabasca\n \n Basin of\n \n Northern Saskatchewan\n \n remains a key production center to pr...