IsoEnergy Ltd. and Purepoint Uranium Group Inc. announce that they have entered into a contribution agreement in connection with the creation of a joint venture for the exploration and development of a portfolio of uranium properties in northern Saskatchewan’s Athabasca Basin.
Both companies will contribute assets from their respective portfolios to the Joint Venture, which will consist of 10 projects covering more than 98,000 hectares in the east side of the Athabasca Basin and will leverage their respective expertise to capitalize on the significant potential of these properties.
The Joint Venture will be comprised of 10 projects within the eastern Athabasca Basin.
Philip Williams, CEO and Director of IsoEnergy, commented: “We are excited to announce formation of this Joint Venture with Purepoint and see many advantages for both companies. Together, the Joint Venture projects consolidate a large land position immediately to the east of the Larocque East project, which includes several kilometres of the highly prospective Larocque trend. Purepoint has proven itself an exceedingly capable operator and the Joint Venture will allow us to have several of our highly prospective projects advanced, while remaining focused on dual priorities of exploring and advancing the Larocque East project, host to the high-grade Hurricane Deposit, and restarting our past producing uranium mines in Utah. By combining our complementary project portfolios and leveraging our collective expertise, we believe we are well-positioned to accelerate discoveries and create value for our shareholders.”
Chris Frostad, President and CEO of Purepoint, added: “With this Joint Venture, the majority of Purepoint’s most significant projects are now being advanced within partnerships alongside some of the uranium sector’s strongest players. This collaboration underscores the confidence our partners, including Cameco, Orano, Foran Mining and now IsoEnergy, have in the potential of these projects, and it further solidifies Purepoint’s position at the forefront of uranium exploration in the Athabasca Basin. By combining forces and pooling resources, we are accelerating exploration efforts and setting the stage for potential large-scale discoveries that can meet the growing demand for clean energy. We look forward to leveraging the technical and financial strengths of our partners as we continue to operate these district-scale projects and drive them towards success.”