Skyharbour’s Partner Company Basin Uranium Corp. Announces Completion of Geophysical Surveys at Mann Lake
Skyharbour has entered into an Option Agreement (the Agreement) with Basin Uranium whereby Basin Uranium has an earn-in option to acquire a 75% interest in the Mann Lake Uranium Project.
- Skyharbour has entered into an Option Agreement (the Agreement) with Basin Uranium whereby Basin Uranium has an earn-in option to acquire a 75% interest in the Mann Lake Uranium Project.
- Under the Option Agreement, Basin Uranium Corp will contribute cash and exploration expenditure consideration totalling CAD $4,850,000 over a three-year period (Project Consideration).
- Basin Uranium Corpwill also issue to Skyharbour the equivalent value of CAD $1,750,000 in shares of Basin Uranium over the three-year earn-in period to complete the earn-in.
- The Mann Lake project is also adjacent to the Mann Lake Joint Venture operated by Cameco (52.5%) with partners Denison Mines (30%) and Orano (17.5%).