Oberon options SL project from ESN Investment

Executive Summary

• Oberon Uranium Corp. has executed an option agreement to acquire a 100% interest in the SL Project, a uranium property located in the Strange Lake complex in Nunavik, Quebec.
• The transaction involves an arm's-length party, ESN Investment Corp., and covers 23 claim units totaling 1,101.7 hectares.
• The total consideration for the acquisition is $250,000, with $170,000 already paid upon execution and a remaining $80,000 due on the first anniversary of the agreement.

Key Details

• Target Asset: SL Project, consisting of 23 claim units covering 1,101.7 hectares.
• Location: Near Lac Brisson in Nunavik, Quebec, within the Strange Lake complex (known for rare earths).
• Proximity to Other Projects: Located approximately three kilometres southwest of Torngat Metals' Strange Lake project.
• Counterparty: ESN Investment Corp. (arm's-length party).
• Option Terms: Oberon has the option to acquire a 100% interest in the property.
• Financial Consideration:
  • Total aggregate cash payments: $250,000.
  • Initial payment: $170,000 (paid upon execution of the agreement).
  • Second payment: $80,000 (payable on or before the first anniversary of the option agreement).

Notable Quotes

• None provided in the release.