Clover Leaf Capital Announces Proposed Qualifying Transaction - Seite 2

Foto: Accesswire

Figure 1 - North Shore Energy Falcon and West Bear properties at the eastern margin of the Athabasca Basin. Source: Saskatchewan government database.

Falcon Property

The Falcon property consists of four mineral claims covering 12,791 hectares near the southeastern edge of the Athabasca Basin, approximately 30 kilometers east of the Key Lake uranium mill which is majority-owned by Cameco Corp. Recent uranium discoveries by Baselode Energy and 92 Energy Ltd. are located 40 kilometers northeast of the property. Adjacent exploration properties include those held by Skyharbour Resources Ltd., ALX Resources Corp. and Baselode Energy Corp. (Figure 2).

Foto: Accesswire

Figure 2 - North Shore Energy's Falcon property and neighboring landholdings. Sources: Saskatchewan government database and company disclosures. This figure contains information about adjacent properties to the Falcon property which North Shore Energy does not have the right to explore. Investors are cautioned that mineralization on adjacent properties is not necessarily indicative of mineralization on the Falcon property.

North Shore Energy has an option to acquire 100% of the Falcon property from Brian Fowler and Big Boss Capital for $75,000 in cash which has been paid, and at North Shore Energy's election, the payment of $25,000 cash or issuance of $25,000 worth of common shares by April 14, 2023. After the earn-in is complete, the property vendor will be granted a 2% royalty, with North Shore Energy having the option to purchase 1% of the royalty for $1,000,000.

West Bear property

The West Bear property consists of five mineral claims covering 4,511 hectares at the eastern margin of the Athabasca Basin, approximately 35 kilometers southeast of Cameco Corp.'s Cigar Lake uranium mine and 50 kilometers south of the McClean Lake uranium mill, which is majority-owned by Orano Canada. The West Bear uranium and cobalt-nickel deposits held by UEX Corp., which was recently acquired by Uranium Energy Corp., are located just north of the property. Adjacent exploration properties include those held by Denison Mines Corp. and IsoEnergy Ltd. (Figure 3).