Atomic Minerals Submits Permit Application for Exploration At 100% Owned Bleasdell Lake Uranium Project, North Saskatchewan
1
For Immediate Release
PRESS RELEASE
October 09, 2024
Symbol: TSX-V: ATOM
Atomic Minerals Submits Permit Application for Exploration At
100% Owned Bleasdell Lake Uranium Project, North
Saskatchewan
Vancouver, British Columbia, October 09, 2024 – Atomic Minerals Corporation ("ATOMIC
MINERALS" or the "Company") (TSX Venture: ATOM) is pleased to announce that it has submitted
an exploration permit application to the Saskatchewan Ministry of Environment for its 100% owned
Bleasdell Lake Project in northern Saskatchewan, Canada.
Atomic Minerals has engaged Grander Exploration Ltd. to oversee the permitting application process.
The Company is seeking a multi-year permit to conduct ground-based geophysics and up to 4000m of
diamond drilling on three newly identified uranium target zones in addition to the historically drilled
Horn and Jackpine zones.
Clive Massey, CEO of Atomic Minerals Corporation, commented, “We are excited to advance our
exploration efforts at Bleasdell Lake with this permit application. Our team, in collaboration with
Grander Exploration, is committed to building on the extensive historical work at Bleasdell Lake,
including exploring newly identified target zones beyond the historically defined Horn and Jackpine
zones. This is a significant step forward in expanding the project’s potential and solidifying our presence
in one of Canada’s premier uranium exploration jurisdictions.”
The proposed work will commence immediately following permit approval, with the Company
implementing a comprehensive program that includes geophysical surveys and diamond drilling across
both new and historical target areas. The objective is to validate historical data, improve the geological
understanding of the property, and identify additional zones of uranium mineralization.
The Province of Saskatchewan is an excellent jurisdiction for mineral exploration investments due to its
favorable fiscal incentives. A standout feature is the Saskatchewan Mineral Exploration Tax Credit
(“SMETC”), which provides a non-refundable 30% tax credit to Saskatchewan taxpayers investing in
eligible flow-through shares (“FTS”) issued by qualifying mining and exploration companies. This
initiative significantly enhances the attractiveness of Saskatchewan as a prime destination for uranium
exploration activity, as it mitigates investor risk while supporting capital inflows into the province’s
mining sector.
Historical Resource at Bleasdell Lake
The Bleasdell Lake property hosts 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
2
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, or 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, significant twinning of the historic drill holes will be necessary. As such, Atomic is not treating
the historical estimate as a current mineral resource at this time.
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.
Technical Information
The exploration and drilling results referenced in this release are from historical data, which Atomic
Minerals is utilizing as a guide for current and future exploration efforts. The Company has not
independently verified the sampling or analysis of this historical data. The planned exploration and
drilling program at Bleasdell Lake will aim to validate the historical results, advancing the Company's
understanding of the uranium potential at the site.
About the Bleasdell Lake Project
The Bleasdell Lake project is located approximately 95 kilometers southwest of Lynn Lake, Manitoba,
and lies east of the renowned Athabasca Basin. Exploration at Bleasdell Lake in the late 1950s revealed
two uranium-bearing pegmatite dykes on the west shore of the lake. The 400-meter Horn Zone has
reported historical drill intersections, including 90 meters of 0.12% U3O8 over 2.56 meters and 0.062%
U3O8 over 1.21 meters. Other drill width intersections ranged from 0.091% U3O8 over 1.86 meters to
0.2025% U3O8 over 2.99 meters. The Jackpine Zone, located approximately 450 meters along strike to
the northwest, has limited historical data but is included in the planned exploration program to better
understand its potential.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture 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 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 which has previously produced
597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium
projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
3
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:
(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.
###