Stallion Discoveries Corp. (the "
Company" or
"
Stallion") (TSX-V: STUD; OTCQB: STLNF; FSE: HM4)
is pleased to announce that it has received TSX Venture Exchange
approval and closed the option agreement (the
“
Agreement”) with ATHA Energy Corp.
(“
Atha”), as announced on July 18, 2023. The
Agreement provides the Company the option (the
“
Option”) to acquire a 70% interest in 47 mineral
claims covering 547,524 acres in Saskatchewan’s prolific Western
Athabasca Basin (the “
Project”). Should the Option
be exercised, the Company would hold an aggregate of 715,450 acres
in the Western Athabasca Basin, part of which would form the
largest contiguous land package in the Western Athabasca Basin.
Figure 1 – Stallion’s Combined Land package in
Western Athabasca Basin
Terms of the Agreement
Pursuant to the terms of the Agreement, the
Company has issued 3,333,333 common shares in the capital of the
Company, which bear a statutory hold period of four months and one
day. In addition, the Company shall accumulate $3,311,770
Saskatchewan Exploration Expenditure Credits on the Project within
12 months (the “Early Expenditures”) and
accumulate additional $8,688,230 Saskatchewan Exploration
Expenditure Credits (for an aggregate of $12,000,000) on the
Project within 60 months. If Stallion fails to incur the Early
Expenditures, it may satisfy the obligation by paying cash to Atha
or by issuing Atha additional shares in accordance with the terms
of the Agreement. Any additional shares issued to Atha for
potential missed milestones will be subject to prior approval of
the TSX Venture Exchange. Stallion shall be the sole operator of
all exploration programs on the Project. Following the exercise of
the Option, Stallion and Atha will commence a joint venture on the
Project with Atha’s 30% interest subject to a 10% free-carried
interest in favour of a third party.
Marketing Agreement
Further, the Company has engaged
CanadianMiningReport.com Inc. ("CMR”) of Pemberton, BC, to provide
content creation, marketing materials and advertising for the
Company for an intial period of 3 months. pursuant to an agreement
dated September 8, 2023, and in consideration of payments totaling
CAD $42,500. The agreement shall automatically renew on a monthly
basis upon expiry of the initial period at a rate of CAD$10,000 per
month, until terminated by the Company with 30 days’ notice. The
agreement with CMR remains subject to approval of the TSX Venture
Exchange.
About Atha Energy Corp.
ATHA is a mineral exploration company focused on
the acquisition, exploration and development of mineral resource
properties. ATHA holds the largest cumulative exploration package
in the Athabasca Basin, the world’s most prominent basin for
uranium discoveries, with 3.4 million acres along with a 10%
carried interest portfolio of claims operated by Nexgen Energy Ltd.
(TSX: NXE) and IsoEnergy Ltd. (TSX‐V: ISO).
For more information
visit www.athaenergy.com
About Stallion Discoveries
Stallion Discoveries is working to Fuel the
Future with Uranium through the exploration of over 3,000 km2 in
the Athabasca Basin, home to the largest high-grade uranium
deposits in the world. The company holds the largest contiguous
project in the Western Athabasca Basin adjacent to multiple
high-grade discovery zones.
Our leadership and advisory teams are comprised
of uranium and precious metals exploration experts with the capital
markets experience and the technical talent for acquiring and
exploring early-stage properties.
Stallion offers optionality with two gold
projects in Idaho and Nevada that neighbour world class gold
deposits offering exposure to upside potential from district
advancement with limited capital expenditures.
For more information visit
Stalliondiscoveries.com or contact:
Lisa StewartInvestor Relations(604)
341-8177 lstewart@stalliondiscoveries.com
Drew ZimmermanChief Executive Officer
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
This news release contains forward-looking
statements and forward-looking information within the meaning of
Canadian securities legislation (collectively, “forward-looking
statements”) that relate to the Company’s current expectations and
views of future events. Any statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always,
through the use of words or phrases such as “will likely result”,
“are expected to”, “expects”, “will continue”, “is anticipated”,
“anticipates”, “believes”, “estimated”, “intends”, “plans”,
“forecast”, “projection”, “strategy”, “objective” and “outlook”)
are not historical facts and may be forward-looking statements and
may involve estimates, assumptions and uncertainties which could
cause actual results or outcomes to differ materially from those
expressed in such forward-looking statements. No assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this material change report
should not be unduly relied upon. These statements speak only as of
the date they are made.
Forward-looking statements are based on a number
of assumptions and are subject to a number of risks and
uncertainties, many of which are beyond the Company’s control,
which could cause actual results and events to differ materially
from those that are disclosed in or implied by such forward-looking
statements. The Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by law. New factors emerge from time to time, and it is not
possible for the Company to predict all of them, or assess the
impact of each such factor or the extent to which any factor, or
combination of factors, may cause results to differ materially from
those contained in any forward-looking statement. Any
forward-looking statements contained in this presentation are
expressly qualified in their entirety by this cautionary
statement.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/28cabcaf-7ea8-4ccb-82a8-2af97bac893c
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