Canamera Acquires Great Divide Basin Uranium Project in Wyoming

Executive Summary

• Canamera Energy Metals Corp. entered into an option agreement to acquire up to a 90% interest in the Great Divide Basin (GDB) uranium project in Wyoming, marking its entry into U.S. uranium exploration.
• The earn‑in structure requires cash payments, share issuances, and staged exploration expenditures totaling up to $2,550,000 over four years.
• A 1.25% net smelter royalty will be payable to Plateau Ventures LLC; upon exercising the first option a joint venture will be formed to develop the project.

Key Details

• Project Overview
• GDB comprises 104 unpatented mining claims (~2,080 acres) in Fremont and Sweetwater counties, Wyoming.
• Located near Premier American Uranium’s Cyclone Project; accessible via BLM‑maintained gravel roads.

• Historical roll‑front uranium mineralization with drilling dating to the 1970s.

• Option Agreement Structure

• First Option (earn 51% interest)

  • Issue 500,000 Canamera common shares to Nexus within 5 days.
  • Cash payment of $30,000 within 5 days.
  • Additional cash $100,000 payable within 18 months.
  • Exploration spend $250,000 within 18 months.
  • Further exploration spend $500,000 within 2 years.

• Second Option (additional 20% → total 71%)

  • Issue Canamera shares valued at $250,000 to Nexus.
  • Cash payment of $75,000.
  • Exploration spend $1,000,000 within 3 years.

• Third Option (additional 19% → total 90%)

  • Issue Canamera shares valued at $250,000 to Nexus.
  • Cash payment of $75,000.
  • Exploration spend $1,000,000 within 4 years.

• Financial Commitment

• Total cash required (if all options exercised): $280,000.
• Total exploration expenditures required: $2,750,000.

• Share issuances represent roughly $1,000,000 of Canamera equity (based on share price at execution).

• Royalty & Joint Venture

• Net smelter royalty of 1.25% payable to Plateau Ventures LLC on any future production.

• Upon exercising the first option, parties will form a joint venture to further develop GDB.

• Qualified Person

• Technical information reviewed and approved by Warren Robb, P.Geo., Vice‑President Exploration (NI 43‑101 Qualified Person).

Notable Quotes

“The Great Divide Basin represents an attractive opportunity to expand our critical minerals focus into uranium,” said Brad Brodeur, Chief Executive Officer.
“With historical drilling, roll‑front mineralization and proximity to advanced‑stage projects in the district, GDB provides a strong foundation for systematic exploration.”