Apogee Minerals Announces the Acquisition of the Shasko Bay Uranium and Gold Project Located in Northern Saskatchewan
Suite 1610 –777 Dunsmuir Street, Vancouver, BC, Canada, V7Y1K4
TSX-V Trading Symbol: APMI
Email: [email protected]
Telephone: (604) 687-3376
Facsimile: (604) 687-3119
November 30th, 2023
News Release
Apogee Minerals Announces the Acquisition of the Shasko Bay Uranium and Gold
Project Located in Northern Saskatchewan
November 30th, 2023, Vancouver, British Columbia – Apogee Minerals Ltd. (“Apogee” or the
“Company”) (TSXV: APMI) is pleased to announce that the Company shall acquire, through the
Pine Channel Option Agreement dated May 11 th, 2021, as amended (the “Underlying
Agreement”), additional claims comprising the Shasko Bay Project (the “Project”). The Project
consists of 2,571 ha and is located along the southeast shore of Lake Athabasca in Northern
Saskatchewan, 20 km SE of Fond-du-Lac, and adjacent to the recently optioned Pine Channel
Project.
Shasko Bay Project Map:
https://www.apogeemineralsltd.com/_resources/news/Shasko-Bay-September-2023.png
Project Highlights:
• Multiple untested geophysical anomalies associated with favourable geology
• Targets for multiple deposit models (Orogenic Au and Unconformity-U)
• Encouraging exploration to date including mineralized drill intercepts
• Mineralization underexplored and open in both directions along strike and at depth
• Excellent access with existing winter road to within 1km and central portions of the
property accessible by boat or float plane
Shasko Bay Project Summary:
The Project is located along the southeast shore of Lake Athabasca in Northern Saskatchewan,
20 km southeast of Fond-du-Lac, and proximal to the Company’s recently optioned Pine Channel
Project. The claims are accessible by boat, barge, winter road or float equipped aircraft from the
village of Stony Rapids , which has all season road access to it. The Project is currently owned
100% by Eagle Plains Resources Ltd. (TSX-V: EPL), with an underlying 2% NSR in favour of
Eagle Royalties Ltd. (CSE: ER).
The Project was staked by Eagle Plains in early 2023 in recognition of both the gold potential
(with basement-hosted auriferous quartz veins and associated shears that strike onto the property
from the Pine Channel Project); and for the unconformity uranium potential that is so well known
in the district, in close proximity to basal contacts of the Athabasca Formation. Apogee has
acquired the right to earn-in up to an 80% interest in the Project from Eagle Plains under the terms
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under the Underlying Agreement for minimal staking costs as it lies within the Area of Mutual
Interest (“AMI”) around the Pine Channel Project.
Between the late 1960’s to the early 2000’s the region was explored for uranium and gold by
various companies. The Fond Du Lac Uranium deposit is the most significant discovery in the
region to date and is located 24 km to the NW-W. Work in the area consisted of seismic reflection
studies, multiple types of airborne and ground-based geophysical surveys, geochemical surveys,
prospecting, mapping, trenching and four separate drill programs which intersected multi gram -
per-tonne gold assays (up to 6.8 g/t Au over 2.1m) from quartz stringers in the Athabasca
sediments. The underlying basement metasedimentary rocks, starting at 226m depth, also
recorded mineralization in the form of disseminated pyrrhotite, pyrite, chalcopyrite and rare
sphalerite, galena and molybdenite. The last drill program intersected anomalous uranium in the
Athabasca sandstone (up to 18.4 ppm) concluding with recommendations to drill test several
additional targets.
Qualified Person:
Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects and a Director of Eagle Plains Resources Ltd., has
prepared, reviewed, and approved the scientific and technical disclosure in this news release.
About Apogee Minerals Ltd.:
Apogee Minerals Ltd. is a mineral exploration company. Our goal is to build shareholder value
through mineral project acquisitions and advancement, as well as new mineral discoveries.
To find out more about Apogee Minerals Ltd. (TSX-V: APMI) visit the Company’s website:
www.apogeemineralsltd.com
Apogee Minerals Ltd.
“Tim Fernback”
Tim Fernback
Interim CEO and Director
For further information, please contact:
Apogee Minerals Ltd.
Riley Trimble, Director
Email: [email protected]
Tel: (604) 416-2978
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of Canadian securities
laws. Such information includes, without limitation, information regarding the structure of the
Proposed Transaction, the terms and conditions of the Proposed Transaction, the Consolidation,
the Name Change, the terms of the Financing. the composition of the board of directors and
officers of the Resulting Issuer upon completion of the Proposed Transaction, the intention of the
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parties to seek a sponsorship exemption or waiver, the issuance of subsequent news releases,
and Alto Verde’s future exploration plans. Although the Company believes that such information
is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: “believe”, “expect”,
“anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their
nature, refer to future events. The Company cautions investors that any forward -looking
information provided by the Company is not a guarantee of future results or performance, and
that actual results may differ materially from those in forward looking information as a result of
various factors, including, but not li mited to: the Company’s ability to complete the Proposed
Transaction; the expected timing and terms of the Proposed Transaction and the Financing; the
state of the financial markets for the Company’s securities; the state of the natural resources
sector in the event the Proposed Transaction is completed; recent market volatility and potentially
negative capital raising conditions resulting from the continued COVID -19 pandemic and risks
relating to the extent and duration of such pandemic and its impact on g lobal markets; the
Company’s ability to raise the necessary capital or to be fully able to implement its business
strategies; and other risks and factors that the Company is unaware of at this time.
The forward-looking statements contained in this news release are made as of the date of this
news release. The Company disclaims any intention or obligation to update or revise any forward-
looking statements, whether as a result of new information, future events or otherwise, except as
required by law.
The securities referred to in this news release have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. pe rsons absent U.S. registration or an
applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities, nor a solicitation for offers to
buy any securities.