VANCOUVER, BC / ACCESS Newswire / May 6, 2025 / North Shore Uranium Ltd. (TSXV:NSU) ("North Shore" or the "Company") is pleased to announce the appointment of Andrew Stewart to the Company's Board of Directors effective May 6, 2025, and to provide an update on activities at its Falcon property ("Falcon" or the "Property") in the Athabasca Basin region of Saskatchewan.
ANDREW STEWART APPOINTMENT AS DIRECTOR
Andrew Stewart is a corporate finance and securities lawyer and a Partner in the Capital Markets and Securities Group at Cozen O'Connor, an AmLaw 100 international law firm. He has over 25 years of capital markets experience that includes mergers and acquisitions, public and private equity and debt financings, regulatory compliance, cross-border transactions and public offerings in Canada and the United States. Mr. Stewart also has served as SEC counsel to several US investment banks. He has been a co-founder and counsel for several private and public companies and is one of the founders of North Shore.
FALCON EXPLORATION UPDATE
In its September 17, 2024, October 10, 2024, November 13, 2024 and February 27, 2025 news releases, the Company summarized work being done at the West Bear and Falcon properties with emphasis on Falcon. Three priority areas have been established at Falcon, Zones 1, 2 and 3 (Figure 1).
To date, North Shore has identified 36 uranium targets at Falcon. The targets are associated with electromagnetic ("EM") conductor anomalies and have been selected based on the analysis and interpretation of multiple geophysical and geologic datasets by North Shore and its consultants. As reported on May 16, 2024, the Company discovered near-surface uranium mineralization at drill sites P03 and P08 in an area that had never seen drilling (Figure 1). These new uranium occurrences could be part of a new trend of uranium mineralization in an area that is underexplored. North Shore's near-term focus is to assess the potential for an economic uranium deposit within this trend by evaluating priority EM targets in the South Priority Area at the eastern end of Zone 1 and the South Walker Area at the southern end of Zone 2 (Figure 1). The Company will continue prioritizing and analyzing targets in preparation for future prospecting and drill programs; updates on target prioritization and exploration efforts will be provided on an ongoing basis.
Brooke Clements, President and CEO of North Shore stated: "The North Shore Team is happy to welcome Andrew Stewart to its Board of Directors. His expertise and enthusiasm will be a great benefit to the Company. New uranium deposits will be required to fuel the reactors that will be needed for the growing nuclear power industry. We believe that Saskatchewan's Athabasca Basin is the best jurisdiction in the world for uranium exploration and development and that there is good potential to discover a new, high-grade uranium deposit. North Shore's pipeline of uranium targets at Falcon and West Bear give it exposure to making a significant new discovery."
Figure 1: Map showing Falcon exploration targets and priority zones.
FALCON BACKGROUND INFORMATION
Falcon consists of 15 mineral claims totaling 55,503 hectares; four of the claims comprising 12,791 hectares are 100 percent-owned by the Company and the remaining 11 claims are subject to an option agreement with Skyharbour Resources Ltd. Under the terms of the option agreement, North Shore has the option to earn an 80% interest in the 11 claims by completing certain payments, exploration work and other commitments by October 2026. Falcon is located 30 km east of the active Key Lake uranium mill and former mine. Between 1983 and 2002, the mine produced a total of 209.9 million pounds of U 3 O 8 at an average grade of over 2.0% [1].
ABOUT NORTH SHORE
The nuclear power industry is in growth mode as more nuclear power will be required to meet the world's ambitious CO 2 emission-reduction goals and the needs of new power-intensive technologies like AI. In this environment, new discoveries of economic uranium deposits will be very valuable, especially in established uranium-producing areas like Saskatchewan. North Shore is working to become a major force in exploration for economic uranium deposits. The Company is working to achieve this goal by exploring its Falcon and West Bear properties at the eastern margin of the Athabasca Basin and by evaluating opportunities to complement its portfolio of uranium properties.
QUALIFIED PERSON
Mr. Brooke Clements, MSc, P.Geol., a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects and the President and CEO of North Shore, has reviewed and approved the scientific and technical disclosure in this press release.
ON BEHALF OF THE BOARD
Brooke Clements,
President, Chief Executive Officer and Director
For further information:
Please contact: Brooke Clements, President, Chief Executive Officer and Director
Telephone: 604.536.2711
Email: b.clements@northshoreuranium.com
www.northshoreuranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "project", "appear", "interpret", "coincident", "potential", "confirm", "suggest", "evaluate", "encourage", "likely", "anomaly", "continuous" and variations of these words as well as other similar words or statements that certain events or conditions "could", "may", "should", "would" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current and planned exploration activities including the potential for the definition of a mineral deposit of potential economic value within Falcon; that drilling results, geophysical survey results and/or interpretations thereof are defining potentially mineralized corridors; results from future exploration programs including drilling; interpretation and meaning of completed and future geophysical surveys; conclusions of future economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in grades of mineralization and/or future actual recovery rates; accidents, labour disputes and other risks of the mining industry; the availability of sufficient funding on terms acceptable to the Company to complete the planned work programs; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated, or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
[1] Source: Government of Saskatchewan - Mineral Deposit Query (https://mineraldeposits.saskatchewan.ca/Home/Viewdetails/1130). There is no guarantee that a uranium deposit similar to Key Lake will be discovered on the Falcon Property.
SOURCE: North Shore Uranium Ltd.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/north-shore-uranium-ltd.-appoints-andrew-stewart-as-director-and-provides-explora-1023854