Atomic Minerals Announces Acquisition of Uranium Mineral Properties in Northern Saskatchewan
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For Immediate Release
PRESS RELEASE
April 16, 2024
Symbol: TSX-V: ATOM
Atomic Minerals Announces Acquisition of Uranium Mineral
Properties in Northern Saskatchewan
Vancouver, British Columbia, April 16, 2024 – Atomic Minerals Corporation ("Atomic" or the
"Company") (TSX Venture: ATOM) Further to the Company’s news releases dated February 5, 2024
and March 6, 2024, the Company is pleased to announced it has completed the acquisition of an
extensive uranium land package, consisting of nine properties totaling just under 6,500 hectares within
or in very close proximity to the Athabasca Basin in Northern Saskatchewan (the “Property”). Further
details on the Property can be found in the Company’s prior news releases available under the
Company’s profile on SEDAR+ at www.sedarplus.ca.
The principal properties in the package include:
• Bleasdell Lake -- host to a 1957 historic resource of 620,700 pounds of U3O8 (triuranium
octoxide) contained within two zones;
• Parks Lake -- three kilometres to the southeast of historic Rabbit Lake mine, and two km to four
km east to northeast of Uranium Energy Corp.'s Horseshoe and Raven deposits;
• Pistol Lake -- completely surrounded by Cameco and 600 metres north of its Sand Lake deposit.
The 1957 Bleasdell Lake historic resource was disclosed in a shareholder report for Columbia Metals Exploration
Co. Ltd., dated Nov. 9, 1957. There is no technical report. The historic resource is relevant to the potential of the
Bleasdell Lake property and is reliable as it was calculated to the standards of the day. The estimate was based
on closely spaced shallow drill holes and more widely spaced deeper drill holes. The calculations, methods or
parameters were not disclosed in the shareholder report. The resource would b e comparable with a current
inferred resource. There are no more recent estimates though subsequent geologists visited the property in the
1960s and 1970s, confirming the showings and the drilling was completed. The company will need to twin a
significant number of the historic drill holes to upgrade or verify the historical estimate as current mineral
resources.
"We are extremely pleased about the acquisition of these premier uranium properties within the
prolific Athabasca Basin, some strategically located adjoining large established producers like
Cameco Corp. and Uranium Energy Corp. With an indicated historic resource at Bleasdell Lake
of 620,700 pounds of U3O8, our strategic positioning is exceptional. This acquisition underscores
our commitment to securing pounds in the ground in regions renowned for high-grade uranium
deposits," stated Clive Massey, President & CEO of Atomic Minerals Corp.
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Amendment to Consideration
The Company’s news release dated March 6, 2024 indicated that the Company had entered into an asset
purchase agreement (the “Purchase Agreement”) for the acquisition of the Property whereby the
Company would issue the following consideration to arm’s length vendors:
• a payment of $100,000 due within five days of approval of the TSX Venture Exchange (the
“Exchange”);
• issuance of 6,000,000 common shares in the capital of the Company (the “Shares”) within five
days of Exchange approval; and
• a second payment of $100,000 due on the 6-month anniversary of Exchange approval.
The Company has since entered into an amending agreement to the Purchase Agreement (the
“Amending Agreement”) which provides that the above consideration, including the issuance of the
6,000,000 Shares, will now be issued to a single arm’s length vendor, being Evan Bell (the “Vendor”).
There is a 2% net smelter royalty (“ NSR”) payable to the Vendor on any future production. The
Company can reduce the NSR to 1% through a $1,000,000 cash payment.
All Shares issued pursuant to the Purchase Agreement will be restricted from trading for four months
and one day after issuance.
Early Warning Reporting Pursuant to NI 62-103
By virtue of his acquisition of the 6,000,000 Shares pursuant to the Purchase Agreement and Amending
Agreement, the Vendor is required to file an early warning report pursuant to National Instrument 62-
103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of
the early warning report will be filed on the Company’s SEDAR+ profile at www.sedarplus.ca.
Qualified Person
Mr. R. Tim Henneberry, P. Geo. (British Columbia), an adviser to the Company, is the “Qualified
Person” under National Instrument 43-101 (Standards of Disclosure for Mineral Projects) responsible
for the technical contents of this news release and has approved the di sclosure of the technical
information contained herein.
About the Company
Atomic Minerals Corporation is a publicly listed exploration company on the Exchange, trading under
the symbol ATOM, led by a highly skilled management and technical team with a proven track record
in the junior mining sector. Atomic’s objective is to identify exploration opportunities in regions that
have been previously overlooked but are geologically similar to those with previous uranium discoveries.
These underexplored areas hold immense potential and are in stable geopolitical and economic
environments.
Atomic’s property portfolio contains uranium projects in three locations within North America, all of
which have technical merit and or are known for hosting uranium production in the past. Three of the
properties are located on the Colorado Plateau, an area which has previously produced 597 million
pounds of U3O8. Three others are in the prolific Athabasca Basin region.
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For additional information about the Company and its projects, please visit our website at
www.atomicminerals.ca
ON BEHALF OF THE BOARD OF DIRECTORS
“Clive Massey”
Clive H. Massey
President & CEO
For further information, please contact:
Dave Langlais
(778) 316-5105
Neither TSX Venture Exchange nor their 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 certain statements that may be deemed "forward -looking" statements. Forward
looking statements are statements that are not historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although
the Company believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results may differ materially
from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and
opinions of the Company’s management on the date the statements are made. Except as required by law, the
Company undertakes no obligation to update these forward-looking statements in the event that management's
beliefs, estimates or opinions, or other factors, should change.