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Highlights

  • CAD$1M royalty deal grants 2.0% gross revenue interest on Nunavut uranium project
  • Forum retains option to repurchase 0.5% of royalty for CAD$1M within specific timeframe
  • Aberdeen Project spans 95,000+ hectares near Orano’s 132M lb U₃O₈ Kiggavik deposit

Uranium Royalty Corp. (URC) has entered into an agreement to acquire a 2.0% gross overriding royalty on the Aberdeen Uranium Project in Nunavut, Canada. The royalty will be purchased for CAD$1,000,000 in cash, funded from URC’s existing cash reserves. The deal is expected to close by the end of May 2025.

The Aberdeen Project is wholly owned and operated by Forum Energy Metals Corp. and is located approximately 100 km west of Baker Lake in the northeast Thelon Basin. The region is considered geologically similar to Saskatchewan’s Athabasca Basin and is regarded as an emerging uranium district.

The project spans over 95,000 hectares and sits directly adjacent to the west of Orano’s Kiggavik Project, one of the world’s largest undeveloped uranium resources with 132 million pounds of U₃O₈ in Indicated and Inferred Resources. Drilling at Aberdeen has returned several notable uranium intercepts, including 1.15% U₃O₈ over 2.4 metres, and 0.62% over 17.9 metres.

Under the agreement, Forum retains a buy-back right on 0.5% of the royalty for CAD$1,000,000. This repurchase right can be exercised for six months following the announcement of a successful pre-feasibility study and expires seven years from the date of issuance.

URC’s latest royalty acquisition adds another exploration-stage asset to its portfolio of uranium royalties and interests. While the Aberdeen Project is in the early stages of development, its proximity to a major uranium deposit and promising drill results highlight its future potential, pending further exploration and study outcomes.