Dark Star Minerals Secures Uranium Project in Northern Saskatchewan

Highlights

• Dark Star Minerals finalises agreement to acquire Bleasdell Lake Uranium Project in Northern Saskatchewan

• Historical exploration identified uranium-bearing zones within Horn and Jackpine areas

• Company plans exploration to confirm and expand previous geological findings

Dark Star Minerals, a Canadian company listed on the Canadian Securities Exchange, has entered into a mineral purchase agreement for the Bleasdell Lake Uranium Project. This project is located in Northern Saskatchewan, a region known for its uranium-rich geology. The acquisition adds to the company’s portfolio of critical mineral assets, which includes focus on the rare earth complex.

Historic Resource and Project Overview

The Bleasdell Lake Uranium Project spans an area of over five hundred hectares. It has previously undergone exploration activities that identified a historical uranium deposit within the Horn and Jackpine zones. These zones contain uranium-bearing pegmatite dykes, a common geological structure associated with uranium mineralisation in the area.

In addition to these historically known zones, previous modern-day exploration has uncovered three more areas within the project that may contain additional uranium-bearing structures. The company aims to further investigate these zones during future exploration phases.

Acquisition Terms and Royalty Agreement

Under the agreement terms, Dark Star Minerals has made an initial payment to the vendors and committed to additional staged cash payments. As part of the consideration, the company will issue shares based on the lowest allowable price under the Canadian Securities Exchange policies, following approval.

Furthermore, the vendors will retain a net smelter return royalty on any production from the Bleasdell Lake Project. The royalty agreement is structured to apply across the entire project area.

Focus on Historic Uranium Zones

Following the acquisition, Dark Star Minerals plans to conduct targeted exploration activities. The focus will be on verifying and expanding upon earlier findings in the Horn and Jackpine zones. These zones have previously shown indications of uranium mineralisation, and the company aims to further delineate their scope through systematic geological assessment.

The region’s history of high-grade uranium discoveries contributes to its reputation as a key area for exploration in Canada. Dark Star’s decision to concentrate on zones with confirmed past exploration results aligns with its broader strategy of acquiring and advancing projects with established mineral presence.

Expansion of Critical Minerals Portfolio

Dark Star Minerals is active in the critical minerals space, with a focus on rare earth and uranium assets. The acquisition of the Bleasdell Lake Project complements the company’s existing asset base. This includes a previously announced option to acquire a large-scale property in the Central Mineral Belt of Labrador.

The company’s approach centres on building a portfolio of projects located in geologically favourable regions. By adding the Bleasdell Lake asset, Dark Star Minerals expands its footprint in one of the world’s most recognised uranium jurisdictions.

Forward Plans for Exploration Activities

Exploration at Bleasdell Lake is expected to prioritise the evaluation of the Horn and Jackpine zones. These areas have been earmarked for detailed follow-up studies to assess the extent and continuity of mineralisation. In addition, the company has acknowledged three lesser-explored zones on the property, which may present further geological interest.

The combination of historical data and modern exploration techniques is expected to guide the development of the project. Dark Star Minerals continues to build its portfolio through acquisitions in regions known for critical mineral occurrences.