Vancouver, British Columbia--(Newsfile Corp. - November 5, 2025) - SUA Holdings Limited ("SUA" or the "Company") is pleased to announce that on Wednesday, November 5, 2025, the Swedish Parliament voted to overturn Sweden's current ban on mining and exploring for uranium. The ban on uranium mining was introduced in 2018. The new legislation, which will go into effect on January 01, 2026, means that uranium will be included as a concession mineral within the Swedish Minerals Act. This means that it will be possible to apply for exploration and extraction from Swedish deposits containing uranium.
SUA holds Sweden's largest portfolio of conventional uranium resources (non-Alum shale hosted). The exploration permits are Björklund nr 1 and 2, Björkråmyran nr 3, Kvarnån nr 5, Nöjdfjället nr 1, and Skuppesavon nr 2, totalling 16,138 hectares.
Noora Ahola, Director of SUA, comments: "This regulatory development coincides with Sweden's expansion of nuclear power and means that uranium exploration and extraction will now be possible. This represents a significant shift in Sweden's uranium policy and a real opportunity to develop uranium mining projects in the country."
"Moving forward, it will be important to demonstrate - in close dialogue with local communities - how uranium can be extracted safely, in compliance with permitting requirements, and in an environmentally responsible manner. We look forward to engaging and working closely with all stakeholders as we advance."
Sweden is taking several steps towards expanding its current six nuclear reactors, which today account for 30 percent of Sweden's energy mix. In August 2025, the Swedish state-owned energy company Vattenfall communicated its intention to proceed with nuclear power construction that includes new capacity of 1,500 MW[1]. This venture is also made possible through partial state funding and financial guarantees. Today, Sweden uses 1,500-2,000 tons of uranium (U308) annually, all of which is imported[2].
The overturned uranium mining ban will mean:
- It will be possible to apply for exploration permits with the Swedish Mining Inspectorate to explore for uranium.
- It will be possible to apply for an exploitation permit (Sw. Bearbetningskoncession) to extract uranium.
- It will be possible to make commercial use of uranium already extracted from polymetallic deposits.
The exploration assets held by SUA are located in the Swedish municipalities of Arjeplog, Boden, Krokom, and Åsele.
Company Overview
SUA Holdings Limited ("SUA" or the "Company") was incorporated on July 5, 2024, under the laws of British Columbia. In September 2024, the Company entered into agreements with its then parent company Southern Cross Gold Consolidated Ltd. (TSX: SXGC) (ASX: SX2) (OTCQX: SXGCF) ("Southern Cross"), whereby the Company issued 300,000,000 common shares of the Company, at an ascribed valued of $40,748, for the transfer of 100% of the issued and outstanding shares of Euro Canna Holdings Ltd. ("Euro Canna") held by Southern Cross, and Southern Cross separately subscribed for 6,138,320 common shares of the Company for $613,832 cash. On January 10, 2025, Southern Cross completed the spin-out of the Company pursuant to which Southern Cross distributed the 306,138,320 common shares of the Company held by it to shareholders of Southern Cross. The Company, through its 100% ownership in Euro Canna, holds six exploration permits in Sweden. As a result, Southern Cross shareholders also became shareholders of the Company and the Company ceased to be a subsidiary of Southern Cross. The Company is a reporting issuer in British Columbia and Alberta.
- Ends -
This announcement has been approved for release by the Board of SUA Holdings Limited.
For further information, please contact:
Mariana Bermudez - Corporate Secretary
mbermudez@chasemgt.com or +1 604 685 9316
Executive Office
1305 - 1090 West Georgia Street Vancouver, BC, V6E 3V7, Canada
Forward-Looking Statement
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical facts, that address such matters as future events or developments that the Company expects, are forward-looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Although management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as continued availability of capital and financing and general economic, market or business conditions. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
[1] https://www.regeringen.se/pressmeddelanden/2025/08/ytterligare-steg-mot-ny-karnkraft-i-sverige/
[2] https://www.sgu.se/samhallsplanering/energi/uran/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273292
SOURCE: SUA Holdings Limited