Uranium One Mining Corp. Expands Canadian Critical Minerals and Uranium Portfolio Through Acquisition of the Foghorn and Pasfield Lake Properties

Executive Summary

• Uranium One Mining Corp. has entered into a share exchange agreement to acquire 1583644 B.C. Ltd. ("NumberCo"), a private corporation that holds interests in two uranium properties: the Foghorn Property in British Columbia and the Pasfield Lake Property in Saskatchewan.
• The transaction involves the issuance of 27,060,000 common shares of Uranium One to the shareholders of NumberCo, plus an additional 12,060,000 shares issued by NumberCo to acquire the underlying properties from third-party vendors.
• The acquisition expands Uranium One's Canadian uranium portfolio, adding assets in prospective exploration districts, subject to regulatory approvals including the Canadian Securities Exchange (CSE).

Key Details

• Transaction Structure: Uranium One acquires all issued and outstanding common shares of NumberCo.
• Consideration Shares: Uranium One will issue 27,060,000 common shares to NumberCo shareholders.
• Property Purchase Shares: NumberCo will issue 12,060,000 additional common shares to acquire the properties:
  • 8,900,000 shares to 0782618 B.C. Ltd. for the Foghorn Property.
  • 3,160,000 shares to Zadar Minerals Corp. for the Pasfield Lake Property.
• Cash Consideration: Uranium One will pay C$250,000 in cash to an arm’s length vendor of the Foghorn Property.
• Royalties and Buybacks:
  • Foghorn Property: Subject to a 3% Net Smelter Returns (NSR) royalty. Buyback right for up to 1.5% for a maximum aggregate price of C$1,500,000.
  • Pasfield Lake Property: Subject to an existing 2% NSR royalty in favor of Canterra Minerals Corporation. Buydown right to 1% upon payment of C$1,000,000.
• Foghorn Property Details:
  • Located in British Columbia.
  • Comprises ~40 Crown-granted mineral claims covering ~614 hectares (1,517 acres).
  • Historical polymetallic exploration targeting uranium, fluorite, and other critical minerals.
  • Historical exploration includes geological mapping, drilling, underground development, and metallurgical testing.
• Pasfield Lake Property Details:
  • Located in northeastern Saskatchewan.
  • Prospecting permit covering ~4,400 hectares (10,873 acres).
  • Located ~100 km northwest of Collins Bay mining area and ~60 km northwest of Cigar Lake Mine.
  • Region considered prospective for unconformity-related uranium mineralization.
• Conditions Precedent: Completion is subject to regulatory, corporate, and third-party approvals, including CSE approval.

Notable Quotes

• "The acquisition of the Foghorn and Pasfield Lake properties marks another important milestone in expanding Uranium One's Canadian uranium portfolio," said David Greenway, Chief Executive Officer of Uranium One Mining Corp. "These strategic additions provide exposure to two prospective exploration districts and further strengthen our pipeline of high-potential uranium assets. We look forward to advancing both projects and creating long-term value for our shareholders following the successful completion of the transaction."