DESIGNATED NEWS RELEASE
VANCOUVER, BC, Aug. 1, 2024
/PRNewswire/ - Uranium Royalty Corp. (NASDAQ: UROY) (TSX:
URC) ("URC" or the "Company") is pleased to announce
the completion of its previously announced acquisition of an
additional royalty on a portion of the Churchrock uranium project
("Churchrock Project") owned indirectly by Laramide
Resources Ltd. ("Laramide") in New
Mexico, USA. The Churchrock Project is an advanced
stage, in-situ recovery uranium project located in the Grants
Mineral Belt of New Mexico, USA,
12 miles northeast of Gallup, New
Mexico. Laramide has disclosed that the Churchrock
Project and nearby properties represent one of the largest and
highest-grade undeveloped ISR uranium projects in the United States.
The royalty is structured as a Gross Overriding Royalty of 6%
"Mine Price", which anticipates recovery of reasonable and actual
costs to transport the mineral to the final point of sale. The
royalty covers the 10 patented mining claims in Section 8 property
(640 acres) that comprise New Mexico Mineral Survey 2220 on the
Churchrock Project.
Cash consideration of US$3.5
million was paid by the Company to the vendors at
closing.
About Uranium Royalty Corp.
Uranium Royalty Corp. is the world's only uranium-focused
royalty and streaming company and the only pure-play uranium listed
company on the NASDAQ. URC provides investors with uranium
commodity price exposure through strategic acquisitions in uranium
interests, including royalties, streams, debt and equity in uranium
companies, as well as through holdings of physical uranium. The
Company is well positioned as a capital provider to an industry
needing massive investments in global productive capacity to meet
the growing need for uranium as fuel for carbon-free nuclear
energy. URC has deep industry knowledge and expertise to identify
and evaluate investment opportunities in the uranium industry. The
Company's management and the Board include individuals with decades
of combined experience in the uranium and nuclear energy sectors,
including specific expertise in mine finance, project
identification and evaluation, mine development and uranium sales
and trading.
Note on Technical Disclosure
Darcy Hirsekorn, the Company's
Chief Technical Officer, has supervised the preparation of and
reviewed the technical information contained in this news release.
He holds a B.Sc. in Geology from the University of
Saskatchewan, is a qualified
person as defined in National Instrument 43-101 Standards of
Disclosure for Mineral Projects and is registered as a professional
geoscientist in Saskatchewan.
Unless otherwise indicated, the scientific and technical
information herein regarding the Churchrock Project has been
derived from the public disclosures of Laramide, copies of which
are available under its profile on SEDAR+
at www.sedarplus.ca.
Forward Looking Statements
Certain statements in this news release may constitute
"forward-looking information" and "forward looking statements", as
defined under applicable securities laws, including those regarding
the disclosed expectations of the operator of the Project regarding
the Project. Forward-looking information includes statements
that address or discuss activities, events, or developments that
the Company expects or anticipates may occur in the future. When
used in this news release, words such as "estimates", "expects",
"plans", "anticipates", "will", "believes", "intends" "should",
"could", "may" and other similar terminology are intended to
identify such forward-looking information. Statements constituting
forward-looking information reflect the current expectations and
beliefs of the Company's management. These statements involve
significant uncertainties, known and unknown risks, uncertainties,
and other factors and, therefore, actual results, performance or
achievements of the Company and its industry may be materially
different from those implied by such forward-looking statements.
They should not be read as a guarantee of future performance or
results and will not necessarily be an accurate indication of
whether or not such results will be achieved. A number of factors
could cause actual results to differ materially from such
forward-looking information, including, without limitation, any
inability to satisfy the conditions to the transaction announced
herein, risks inherent to royalty companies, uranium price
volatility, risks related to the operators of the projects
underlying the Company's existing and proposed interests and those
other risks described in filings with Canadian securities
regulators and the U.S. Securities and Exchange Commission. These
risks, as well as others, could cause actual results and events to
vary significantly. Accordingly, readers should exercise caution in
relying upon forward-looking information and the Company undertakes
no obligation to publicly revise them to reflect subsequent events
or circumstances, except as required by law.
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SOURCE Uranium Royalty Corp.
