Northwire Canada EditionSunday, July 12, 2026
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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Drill Results Routine +

Manhattan Uranium and Fortune Bay Plan Fully Funded 5,000 Meter Drill Program to Test up to 25 Priority Targets at the Murmac and Strike Uranium Projects in Saskatchewan

Manhattan Uranium advances its fully funded Athabasca drill program while shedding non-core Chilean assets.

By The Northwire Desk — AI Analysis Jun 04, 2026 · 06:01 MANU · 0.34 Manhattan Uranium Discovery Corp.
Executive Summary
  • Manhattan Uranium and partner Fortune Bay Corp. announced a fully funded ~5,000m drill program targeting up to 25 priority targets across the Murmac and Strike projects in Saskatchewan's Athabasca Basin.
  • The program leverages integrated geological, geophysical, and geochemical datasets to test electromagnetic conductor packages.
  • Previous drilling at Murmac (M24-0171) returned 8.40m @ 0.30% U3O8, including 1.20m @ 1.79% U3O8. Strike has historical production up to 3.5% U3O8.
  • Manhattan is funding the program under an option agreement to acquire up to a 70% interest, requiring C$6M in exploration expenditures, C$1.35M in cash payments, and C$2.15M in shares. Fortune Bay operates with a 10% management fee.
  • Separately, Manhattan terminated the purchase agreement for its Chilean gold projects (Dorado and Cordillera), focusing capital on its core North American uranium portfolio.
  • Mobilization is underway with drilling expected to commence in June 2026.
Material Impact
  • The announcement aligns with the May 14 portfolio overview, which highlighted the upcoming 25-30 hole drill program in the Athabasca Basin. Therefore, it is an expected execution step rather than a surprise catalyst.
  • The termination of the Chilean gold assets is a strategic refocusing move, eliminating distraction and preserving capital for the core uranium business. This is positive but routine.
  • The fully funded nature of the drill program de-risks the immediate exploration timeline. However, exploration results are inherently binary and speculative. The market has already priced in the planned drilling based on prior updates.
  • No material change to the company's financial position or strategic direction is introduced beyond what was already communicated. The impact is incremental and execution-focused.
MANU · Price
Company Overview
  • Manhattan Uranium Discovery Corp. is a North American uranium exploration company focused on building a district-scale platform.
  • Flagship Projects: Murmac and Strike in Saskatchewan's Athabasca Basin (high-grade uranium potential), and the Apex Project in Nevada (historically high-grade, recently permitted for drilling).
  • The company consolidated 15 past-producing mines and 25 underexplored U.S. properties across the Colorado Plateau and Nevada following the May 2026 acquisitions of Urano Energy and Pegasus Resources.
  • The portfolio benefits from proximity to existing infrastructure, including the White Mesa Mill in Utah and established road/power networks in Saskatchewan.
Read the original news release →

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