Fulcrum Metals PLC, a company focused on mineral exploration and development in Canada, has announced the exercise of an agreement to acquire a 100% interest in the Charlot-Neely Lake, South Pendleton, and Snowbird uranium projects located in Saskatchewan, Canada. The projects cover 11,481 hectares and were previously owned by the Dunn Option Vendors. Fulcrum paid a cash consideration of CA$5,000 upon receipt of the Dunn Option and an additional CA$60,000 upon exercising the option. Following the exercise, the projects have been transferred to Fulcrum's subsidiary, Fulcrum Metals (Canada) Ltd.
This development brings Fulcrum closer to finalizing a definitive agreement with Terra Balcanica Resources Corp. for the sale of all its uranium projects, totaling over 59,000 hectares. The company anticipates completing the definitive agreement soon and will provide further updates to the market.
Fulcrum Metals PLC is an AIM quoted exploration and development company that focuses on financing and managing exploration projects in Canada. The company aims to create an environmentally friendly and sustainable tailings and mine waste business by combining low discovery risk assets and jurisdictions with transformative technology capable of near-term cash flow. Fulcrum has also acquired two gold tailings projects in Ontario and has two drill-ready gold projects in the same region. Additionally, the company is working on establishing the prospectivity of its wider non-core Ontario and Saskatchewan portfolio.