Fulcrum Metals PLC, a company focused on mineral exploration and development in Canada, has extended the completion date for the proposed sale of its uranium projects located in Saskatchewan, Canada to Terra Balcanica Resources Corp. The extension agreement, entered into on 16 May 2024, pushes the date by which the definitive agreement must be executed to 15 June 2024 due to delays in the documentation process.
The Chief Executive Officer of Fulcrum, Ryan Mee, expressed confidence in the acquisition's completion by the extended backstop date and highlighted the potential of the uranium portfolio in Saskatchewan, a premier uranium jurisdiction. Mee also emphasized the company's anticipation of welcoming Terra as a partner to explore and advance these projects in an industry driven by the energy transition to lower baseload power carbon emissions.
Fulcrum Metals PLC is an AIM quoted exploration and development company that focuses on financing and managing exploration projects in Canada, a top mining jurisdiction. The company aims to create an environmentally friendly and sustainable tailings and mine waste business, driving mining change through combining low discovery risk assets and jurisdictions with transformative technology capable of near-term cash flow while capitalizing on a portfolio of highly prospective exploration assets.
Fulcrum has acquired two gold tailings projects in the prolific Kirkland Lake gold camp, Ontario, and is working on delivering a licensing framework in Ontario with technology partners. Additionally, the company has two drill-ready gold projects in Ontario, with the potential to host large, structurally controlled, stratabound-style banded iron formation (BIF) gold prospects and high-grade gold reported in historical drilling.
The Tully property, located in the world-class Timmins-Porcupine gold camp, has a NI 43-101 compliant resource of 107,000 ounces of gold with high grades reported in historical drilling. Fulcrum's projects in Ontario and Saskatchewan demonstrate the company's commitment to environmentally friendly and sustainable mining practices, as well as its focus on exploring and developing highly prospective mineral assets.