Nations are turning their attention and budgets toward nuclear energy and it has spurred a series of sizable M&A deals in the space.

One of the most memorable announcements in 2022 came in October when Cameco, one of the world’s largest uranium producers, and Brookfield Renewable Partners formed a strategic partnership to acquire Westinghouse Electric Company in a deal valued at US$7.8 billion. The deal will give Cameco a 49% controlling interest in “one of the world’s largest nuclear services businesses.”

Uranium Energy Corp. has also been on a uranium buying spree over the last year. In December 2021, the company acquired Uranium One Americas. In June 2022, UEC bought Canada-listed UEX Corp. in an effort to “create the largest diversified North American focused uranium company.” The deal, which is valued at $192.7 million primarily of UEC stock, marks the largest M&A transaction in the North American  uranium sector after the U1A acquisition by UEC in 2021.

Then, just four months later, UEC revealed its plans to acquire the world-class Roughrider uranium development project in Saskatchewan from Rio Tinto for $150 million. 

Rising M&A in North American uranium projects comes at a time when officials in Canada and the US are calling for greater uranium and nuclear cooperation between the two countries to help reduce US imports of uranium from Russia.

In fact, nuclear fuel buyers across the globe are shying away from major suppliers Russia and Kazakhstan amid ongoing conflict, making uranium projects in countries like Canada an important part of the nuclear resurgence.

Canada is the second-largest producer of uranium on the planet, accounting for roughly 13% of total global output, and has the world’s highest-grade uranium deposits.

The country is also home to some of the only projects that are advanced enough to enter production this cycle.

The Right Project in the Right Place at the Right Time

Fission Uranium Corp. (TSX:FCU) (OTCQX:FCUUF) is developing the multiple-award-winning Patterson Lake South (PLS) uranium property in Canada’s Athabasca Basin. PLS is home to the largest mineralized trend in the area and it hosts the Triple R – the only major, high-grade deposit found at shallow depth.

Fission expects to publish a feasibility study in the very near future. This crucial technical study is highly anticipated because the company’s pre-feasibility study (PFS), led by CEO and uranium expert Ross McElroy, clearly highlighted that the Triple R has the potential to have some of the world’s lowest operating costs for uranium mining. 

The company has not been idle while waiting for world-class, independent engineering consultant, TetraTech, to complete the feasibility study. In fact, Fission has continued to improve the deposit’s resource estimate and to de-risk the project. Its efforts have yielded strong results. In September 2022, Fission Uranium increased total indicated tonnes by 21.3%, compared to the previous numbers used in the PFS.

Fission Uranium recently announced assay results from the previous drilling on the R840W zone at PLS, which revealed all seven holes hit wide intervals of mineralization, and six of the holes hit strong high-grade intervals. Among the most noteworthy was hole PLS21-MET-004, which hit an interval measuring 34 meters at 19.12% U3O8. This phenomenal intersection awarded Fission Uranium with the #1 strongest intersection of any uranium project worldwide in that year. That level of result is a testament to just how incredible the Triple R deposit really is, and is an important fact to remember when one considers the deposit is still open in several directions.   

This successful drilling on the large R840W zone is important because it increases the likelihood that the zone will be included in the revised feasibility study mine plan, which in turn could increase mine life and further strengthen the robust economics. 

“These assays are a reminder of the incredible strength of mineralization we have here at PLS – with numbers that place the Triple R in an elite group of deposits worldwide,” said Fission Uraniun’s President and CEO Ross McElroy. 

Fission has now completed all of the outstanding drill assay results and technical work for the Feasibility Study, which is in its final stages and expected to be completed early 2023.

For more information on Fission Uranium Corp. (TSX:FCU) (OTCQX:FCUUF) and its project, please visit this link.

SOURCE Fission Uranium Corp. (TSX:FCU) (OTCQX:FCUUF)

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Fission Uranium Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Fission Uranium Corp.’s industry; (b) market opportunity; (c) Fission Uranium Corp.’s business plans and strategies; (d) services that Fission Uranium Corp. intends to offer; (e) The Oregon Groups milestone projections and targets; (f) Fission Uranium Corp.’s expectations regarding receipt of approval for regulatory applications; (g) Fission Uranium Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Fission Uranium Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Fission Uranium Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Fission Uranium Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Fission Uranium Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Fission Uranium Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Fission Uranium Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Fission Uranium Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Fission Uranium Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Fission Uranium Corp.’s business operations (e) Fission Uranium Corp. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Fission Uranium Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Fission Uranium Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Fission Uranium Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Fission Uranium Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Fission Uranium Corp. or such entities and are not necessarily indicative of future performance of Fission Uranium Corp. or such entities.

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