Gamma Resources files NI 43-101 tech report on Mesa Arc

Executive Summary

• Gamma Resources Ltd. announces the filing of an independent NI 43-101 technical report for its Mesa Arc uranium project in New Mexico, validating the geological model and outlining a phased exploration strategy.
• The company has outlined a two-phase exploration program with a total estimated budget of $1.5 million USD, starting with the validation of historical drilling results followed by geophysical surveys and follow-up drilling.
• Concurrently, the company amended lease payment terms with C Bar B Properties Corp., deferring $50,000 of the initial consideration to April 2026 while maintaining future payment obligations.

Key Details

• Technical Report Highlights:
  • The report confirms uranium mineralization hosted within the Jackpile member of the Morrison formation, a stratigraphic unit proven to support significant uranium production in the Western US.
  • Historical data includes over 900 drill holes by prior operators (United Nuclear, Anaconda, ARCO, Magnum Uranium).
  • Target horizon is shallow (300–350 feet), allowing for cost-effective reverse circulation (RC) drilling.
  • Prepared by Bengt Anders Hogrelius, MSc, RPGeo, SME-RM, of Hogrelius Geological Consultants.
• Phased Exploration Program:
  • Phase 1 (Validation): Twinning of select historical boreholes to validate historical intercepts.
    • Scope: Approximately 10 RC drill holes.
    • Budget: ~$300,000 USD.
  • Phase 2 (Geophysics & Follow-up): Passive seismic geophysical survey to define paleochannel geometry, followed by targeted drilling.
    • Scope: ~20 RC drill holes to test priority targets.
    • Budget: ~$1.2 million USD.
  • Status: Permitting is ongoing; updates will be provided as approvals are received.
• Lease Agreement Amendment (C Bar B Properties Corp.):
  • Initial consideration was $250,000 USD.
  • Gamma has paid $200,000 USD.
  • $50,000 USD payment deferred to April 14, 2026.
  • On April 14, 2026, Gamma will pay $300,000 USD total (including the deferred amount) and waive the 90-day cure period for non-payment.
  • Future payments of $250,000 USD remain due on April 14, 2027, and April 14, 2028.
• Project Status:
  • Mesa Arc project comprises 41 lode mining claims expanded by 185 new federal claims, totaling 4,520 acres in northern New Mexico.
  • Historical non-NI 43-101 estimate by Magnum Uranium Corp. (2006) outlined 2.5–3.0 million pounds U3O8.

Notable Quotes

• "With strong and accelerating tailwinds for the U.S. uranium industry, we are excited to advance the Mesa Arc project following the filing of our NI 43-101 technical report. The report confirms that Mesa Arc hosts prospective geology consistent with uranium-vanadium mineralization found elsewhere in the Morrison formation across the Colorado Plateau, and supports a disciplined, phased and low-cost exploration program designed to validate historical work and create shareholder value." — Gabriel Alonso-Mendoza, President and CEO