Uranium One Mining Corp. (CSE: UUU | OTC: UUUFD | FWB: SL5) announced on October 29, 2026, that it has completed the acquisition of all issued and outstanding common shares of 1583644 B.C. Ltd., a private British Columbia corporation holding two mineral properties in Canada. The transaction delivers 100% undivided interests in the Foghorn polymetallic property in British Columbia and the Pasfield Lake uranium property in Saskatchewan. The deal expands Uranium One's Canadian exploration portfolio at a total aggregate consideration of C$5,662,000, positioning the company across two distinct geological settings with uranium and critical mineral exposure.

Key Points

  • Uranium One Mining Corp. (CSE: UUU | OTC: UUUFD | FWB: SL5)
  • Acquisition of 1583644 B.C. Ltd. completed, adding the Foghorn Property (British Columbia) and Pasfield Lake Property (Saskatchewan) to Uranium One's portfolio
  • Total consideration: C$5,662,000, comprising 27,060,000 shares at a deemed price of C$0.20 per share and C$250,000 cash; Foghorn Property carries a 3% NSR royalty and Pasfield Lake a 2% NSR royalty
  • Investors may watch for NI 43-101 technical reports on both properties, which are required before Consideration Shares are released from their extended hold period

Transaction Structure and Consideration for Foghorn and Pasfield Lake

Uranium One acquired all shares of 1583644 B.C. Ltd. under a share exchange agreement originally dated June 26, 2026, and amended October 27, 2026. The company issued 27,060,000 Consideration Shares at a deemed price of C$0.20 per share — representing an aggregate deemed share value of C$5,412,000 — plus C$250,000 in cash, totalling C$5,662,000. The amending agreement restructured the transaction for Canadian tax purposes, introducing a tax-deferred rollover mechanism under the Income Tax Act (Canada), without altering the overall consideration paid to shareholders. No finder's fees or commissions were payable in connection with the transaction.

Foghorn and Pasfield Lake Property Profiles

The Foghorn Property covers approximately 614 hectares in British Columbia and is a historical polymetallic project targeting uranium, fluorite, and other critical minerals, with recorded diamond drilling of approximately 17,280 metres across approximately 368 drill holes conducted between 1943 and 1976. No mineral resources or reserves have been established. The Pasfield Lake Property covers approximately 4,400 hectares in northeastern Saskatchewan, situated roughly 100 kilometres northwest of the Collins Bay mining area and 60 kilometres northwest of the Cigar Lake Mine, in a region considered prospective for unconformity-related uranium mineralisation. Neither property has seen recent exploration activity by the vendors prior to the transaction.

Royalty Obligations and CSE-Imposed Resale Restrictions on Consideration Shares

The Foghorn Property carries a 3% net smelter returns royalty in favour of 0782618 B.C. Ltd., with a buyback right for up to 1.5% at C$500,000 per 0.5%. The Pasfield Lake Property is subject to an existing 2% NSR royalty held by Canterra Minerals Corporation, reducible to 1% upon payment of C$1,000,000. As a CSE condition, the 27,060,000 Consideration Shares are subject to an extended hold, remaining restricted until at least four months post-closing, and until NI 43-101 technical reports and qualifying financial statements are filed. The company states it intends to commission updated technical reports for both properties.