Fulcrum Metals acquires three Saskatchewan uranium projects

Staff Writer | July 1, 2024 | 3:46 pm Exploration Canada Uranium

Fulcrum’s Big Bear project. Image: Fulcrum Metals.

UK-based mineral explorer Fulcrum Metals (LON: FMET) announced Monday that its wholly owned Canadian subsidiary has agreed to acquire a 100% interest in the Charlot-Neely Lake, South Pendleton and Snowbird uranium projects in Saskatchewan, covering 114.81 square kilometres.

Upon exercising an option agreement on June 28, 2024, Fulcrum has paid a cash consideration of C$60,000 for full ownership of the three projects. Last fall, it paid C$5,000 in cash to obtain the option on these projects.

This transaction takes the company one step closer to a definitive agreement with Terra Balcanica Resources Corp. over the sale of all of its uranium projects totalling over 590 square kilometres, Fulcrum said in a news release.

Fulcrum also has three gold projects in Ontario: the Big Bear project situated over the western end of the Schreiber-Hemlo greenstone belt, the Jackfish Lake project, and the Tully project, located 25 kilometres northeast of Timmins, Ontario.