Atomic Minerals Provides Update on Properties in the Athabasca Basin and Northern Saskatchewan
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For Immediate Release
PRESS RELEASE
December 23, 2024
Symbol: TSX-V: ATOM
Atomic Minerals Provides Update on Properties in the
Athabasca Basin and Northern Saskatchewan
Vancouver, British Columbia, December 23, 2024 – Atomic Minerals Corporation (TSX-
V: ATOM) ("Atomic Minerals" or the "Company") is pleased to provide a corporate update
regarding an amendment to its previously signed Asset Purchase Agreement (the “Agreement”)
involving a uranium land package in Northern Saskatchewan (the “Property”). This land
package, originally six properties comprised of 9 claims totaling just under 6,500 hectares, lies
within and in close proximity to the prolific Athabasca Basin, one of the world's premier uranium
mining regions.
Amendment to the Asset Purchase Agreement
The Agreement, originally signed in February 2024 and amended in April and October 2024, has
been further amended to reflect new terms agreed upon by the parties.
As part of this recent amendment:
• Atomic Minerals will pay the Vendors $10,000 by December 2, 2024.
• An additional $115,000 will be paid to the Vendors by February 28, 2025.
This revision ensures a streamlined path forward, allowing Atomic Minerals to focus on its core
exploration goals while meeting its obligations under the Agreement.
Additionally, the Company has, for strategic reasons, elected to return the Carswell, Parks Lake
and Archie Lake projects from the original acquisition package to the Vendors. As a result, the
Company’s land package consists of four claims comprising three high-priority properties in
Saskatchewan for exploration and development, which continue to demonstrate significant
potential for uranium discovery.
Remaining Properties in the Land Package
Atomic Minerals remains focused on the retained properties : Bleasdell Lake, P istol Lake and
Baby Loon, which are strategically positioned to maximize exploration success. Key features of
the remaining properties include:
• Favourable geology for high-grade uranium discoveries.
• Undrilled geophysical anomalies awaiting preliminary drill programs.
• Historical uranium resources.
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The amendments to the Agreement and the redefined land package reflect Atomic Minerals’
commitment to a disciplined and value-focused approach to project development. By narrowing
its focus, the Company aims to optimize resource allocation, streamline its exploration strategy,
and drive greater shareholder value.
Bleasdell Lake Permitting
The exploration permit application for the Bleasdell Lake Project ( "Bleasdell Lake" ) was
submitted to the Saskatchewan Ministry of Environment on October 9, 2024. Atomic Minerals
is currently engaged in the consultation process with the Peter Ballantyne Cree Nation
("PBCN”) and the Company anticipates receiving the permit shortly. As previously reported,
the exploration program will focus on three newly identified uranium target zones in addition to
the historically drilled Horn and Jackpine zones. These areas are known for uranium -bearing
pegmatite dykes. Historic trenching returned 91m averaging 0.12% U3O8 over 2.56m and 33.5m
averaging 0.62% U3O8 over 1.21m. Drilling beneath the trenching identified a 1957 historic
resource of 620,700 pounds of U3O8, identified within the Horn and Jackpine zones.
This historic estimate was originally reported in a shareholder report for Columbia Metals
Exploration Co. Ltd. dated November . 9, 1957 (the “Shareholder Report” ). The estimate,
which was calculated using the standards of the time, is based on data from closely spaced
shallow drill holes and more widely spaced deeper drill holes. While the historic resource is
considered relevant to the potential of the Bleasdell Lake property, there is no technical report,
and the calculations, methods and parameters used were not disclosed in the Shareholder Report.
Consequently, a qualified person has not completed sufficient work to classify the historical
estimate as a current mineral resource. The Company acknowledges that to upgrade or verify the
historical estimate as a current mineral resource, significa nt twinning of the historic drill holes
will be necessary. As such, Atomic Minerals is not treating the historical estimate as a current
mineral resource at this time.
Clive Massey, CEO of Atomic Minerals Corporation stated, "This amendment reflects our
commitment to advancing exploration initiatives while maintaining a disciplined and strategic
approach to project management. We are grateful to our Vendors for their collaboration and
support in Saskatchewan and look forward to continuing our close working relationship as we
focus on maximizing the potential of our high-priority uranium properties in the Athabasca Basin
area, which remain a cornerstone of our growth strategy."
For more information on Atomic Minerals Corporation and the Bleasdell Lake Project, please visit
Atomic Minerals Corp. Northern Saskatchewan Projects.
Please download the Atomic Minerals Corporate Presentation
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under
National Instrument 43-101 responsible for the technical contents of this news release and has
approved the disclosure of the technical information contained herein.
About the Company
Atomic Minerals Corp oration is a publicly listed exploration company on the TSX Venture
Exchange, trading under the symbol ATOM, led by a highly skilled management and technical
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team with a proven track record in the junior mining sector. Atomic Minerals’ 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 Minerals' property portfolio contains uranium projects in three locations within North
America, all of which have significant 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 that
has previously produced 597 million pounds of U3O8. Three properties, comprising four claims
totalling 2,180 hectares, are located in Northern Saskatchewan: two within or proximal to the
prolific Athabasca basin and a third which hosts a historic resource.
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:
Investor Relations
(604) 341-6870
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 Atomic Minerals Corporation 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 Atomic Minerals Corporation management on the date the statements
are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to
update these forward- looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
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