Basin Acquires Data Set for the Chord Project
Vancouver, British Columbia – August 15, 2023 – BASIN URANIUM CORP. (CSE: NCLR) (OTC Pink: BURCF) (FSE: 6NP0) (“Basin Uranium” or the “Company“) is pleased to announce it has acquired a substantial data set from the South Dakota Geologic Survey. The data set consists of geophysical logs, maps and lithological logs from historic uranium exploration that has taken place in Fall River County. This data set combined with previous data acquired on the Chord project is now being digitized and incorporated into the Company’s geological database. The geological information will be invaluable to help the Company interpret and model the historic mineralization that occurs on the Chord, as well as, to assist with upcoming exploration focused on confirmation, expansion and evaluating the ISR (in-situ recovery) potential of the project. More information will be made available upon completion of digitizing and reviewing the newly acquired data.
Options Grant
The Company has also granted 750,000 stock options under the Company’s stock option plan. The options vest immediately and are exercisable for a period of five years at an exercise price of $0.18.
Qualified Person:
R. Tim Henneberry, P.Geo. (B.C.), a technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.
About Basin Uranium Corp.
Basin Uranium Corp. is a Canadian junior exploration company focused on mineral exploration and development in the green energy sector. The Company has two advanced-stage uranium projects located in the United States, namely the Chord project in South Dakota and the Wray Mesa project in southeastern, both of which have seen extensive historical exploration and located in prospective development areas. The Company also has the Mann Lake uranium project, located in the world class Athabasca Basin of Northern Saskatchewan, Canada in addition to the CHG gold project in south-central British Columbia.
For further information, please visit https://basinuranium.ca or email [email protected].
On Behalf of the Board of Directors
Mike Blady
Chief Executive Officer
[email protected]
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD-LOOKING STATEMENTS:
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important factors that may cause actual results to vary include, without limitation, uncertainties affecting the expected use of proceeds. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.
