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Other Projects

Beatty River Project

The Beatty River Project is located in the western Athabasca Basin approximately 40 km south of the Shea Creek Deposits. It is a joint venture between Orano (51%), JCU (24%), and UEC (25%), with Orano being the operator. The Project is located along trend of the recent discovery by Fission 3.0 on their Patterson Lake North property.

Black Lake Project

Located on the northern edge of the Athabasca Basin 15 km south of the hamlet of Stony Rapids, Saskatchewan’s UEC’s Black Lake Project has encountered unconformity-style mineralization in several drill holes in the northern section of the property.

UEX signed an option in 2017 with ALX Uranium Corp, where ALX could earn up to a 75% interest in the Property over four years by issuing 12 million ALX shares to UEX and completing a minimum of $6 million in exploration work on the Project. In 2017, ALX completed a drill program and a property wide ZTEM electromagnetic survey, and in the spring of 2019, ALX completed a radon and helium survey. Preliminary results from the 2019 survey show some radon, radiometric, and helium anomalies in the area. ALX stopped their earn-in at 40%.

Currently, UEC owns 51.43% of the Black Lake Project, ALX owns 40% and, Orano owns 8.57%.

Carswell Lake Project

Acquired from Rio Tinto in August of 2023, the Carswell project covers 16,771 acres (6,787 Ha) just 1.6 km north of the now mined out Claude Deposit at Cluff Lake. UEC is the operator of the Carswell project with 50% equity and ALX Resources owns the remaining 50% interest in the project. The Carswell project lies within the Carswell Structure, the location of a meteorite impact that has brought the basement rocks and uranium mineralization much closer to the surface than in the surrounding area. Carswell is a project with multiple uranium showings in drill holes, trenches, boulders, and outcrop that together suggest similar controls on the mineralization as seen at the past-producing and now decommissioned Cluff Lake Mine.

Henday Lake Project

Acquired from Rio Tinto in August of 2023, the Henday project covers 17,801 acres (7,204 Ha) in an area less than five kilometers north of Roughrider. Like Roughrider, the Henday Lake project is within the prolific Wollaston-Mudjatik transition zone that is host to many of the eastern Athabasca deposits. UEC acquired 60% of the project and act as the operator of Henday project in a joint venture with Forum Energy Metals, who owns the remaining 40%. The Company’s technical evaluation of the project revealed uranium up to 1,750 ppm associated with altered basement rocks that has yet to be followed up with additional drilling. The project is host to several compelling exploration targets identified by previous operators and the Company’s technical team.

Key West Project

These four staked claims are immediately west of and adjacent to Cameco’s Key Lake Uranium operations. Historically explored intermittently for uranium, this 13,208-hectare land package is considered by the UEC team to be prospective for both uranium, nickel, and cobalt.

Milliken Project

Acquired from Rio Tinto in August of 2023, Milliken covers 9,872 Acres (3,995 Ha) located along strike of UEC’s Wolf Lake trend on its Hidden Bay project. Milliken represents a large early-stage project that hosts similar geology to that of the Collins Bay / Rabbit Lake Fault system. The Company has acquired 100% of Milliken and will be the operator.

Other Western Athabasca Projects

In addition to the Shea Creek Project joint venture with Orano, UEC is also joint ventured in the following Western Athabasca projects in the same area: Alexandra, Brander Lake, Erica, Laurie, Mirror River, Nikita, and Uchrich. Orano is the operator of these joint ventures.

Riou Lake Project

Interest in the Riou Lake area was piqued when historic radioactive boulders containing up to 11.3% uranium were found on the property. UEC considers Riou Lake to be prospective for the discovery of unconformity-style uranium deposits. Drilling to date has intersected 0.448% U3O8 over 0.5 m near the unconformity in hole RLG-D21 within widespread area containing radioactive springs and 0.537% U3O8 over 0.07 m in a single hole associated with the PM conductor area.

UEC owns 100% of the Project.