M5 C 2 C 5 NEX : UWE .H Canada Press R elease U3O8 Corp. Issues Options to Board
36 Toronto
Street
T: 416
-
868
-
1491
Suite
1050
www.u3o8corp.com
Toronto, ON M5
C
2
C
5
NEX
: UWE
.H
Canada
Press
R
elease
U3O8 Corp.
Issues Options to Board
and
Management
Toronto, Ontario
–
August
24
, 20
20
–
U3O8 Corp.
(
TSXV
: UWE
.H
)
,
(“
U3O8
” or the “
Company
”)
announce
s
that it has issued an
aggregate total of
860,000
stock options to board members, management and
consultants
. The stock options have a five
-
year term and an exercise price of $0.
12
, corresponding to the
closing price of the Company’s stock on the
NEX platform of the
TSX Venture Exchange on August 21,
2020
. These options comply with the Company’s standard option practice with one qu
arter
of the options
vesting on the date of grant and one
quarter
vesting on each of the
six
-
month, 12
-
month and 18
-
month
anniversaries of the date of grant.
About U3O8 Corp.
U3O8 Corp. is focused on exploration and development of deposits of uranium and battery commodities in
South America. Battery commodities that occur with uranium resources include vanadium, nickel, zinc and
phosphate.
The Company’s mineral resources estim
ates were made in accordance with National
Instrument 43
-
101, and are contained in the following deposits:
Laguna Salada Deposit, Argentina
–
a PEA shows this near surface, free
-
digging uranium
-
vanadium deposit has low production
-
cost potential; and
B
erlin Deposit, Colombia
–
a PEA shows that Berlin also has low
-
cost uranium production
potential due to revenue that would be generated from by
-
products of phosphate, vanadium, nickel,
rare earths (yttrium and neodymium) and other metals that occur within
the deposit.
A PEA is preliminary in nature, it includes inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that would enable them to be
categorized
as mineral reserves, and
there is no certainty that the preliminary economic assessment will
be realized.
The Company also owns approximately 39% of South American Silica, a private company with frac sand
properties in Uruguay.
For further information, please contact:
Carolina Diaz at
or phone (416) 868
-
1491 or
Richard Spencer
, President & CEO,
U3O8 Corp., Tel: (
647
)
292
-
0225
Forward
-
Looking Statements
This news release includes certain “forward looking statements” related with the development plans,
economic potential and growth targets of U3
O
8 Corp’s projects. Forward
-
looking statements consist of
statements that are not purely historical, including statements regarding beliefs, plans, expectations or
intensions for the future, and include, but not limited to, statements with respect to: (a) t
he completion of a
reactivation transaction; (b) the low
-
cost and near
-
term development of Laguna Salada, (c) the Laguna
Salada and Berlin PEAs, (d) the potential of the Kurupung district in Guyana, (e) impact of the U
-
pgradeTM
process on expected capital
and operating expenditures, and (f) the price and market for uranium. These
statements are based on assumptions, including that: (i) the ability to find a profitable undertaking or
successfully conclude a purchase of such an undertaking at all or on terms
which are commercially
acceptable; (ii) actual results of our exploration, resource goals, metallurgical testing, economic studies and
development activities will continue to be positive and proceed as planned, and assumptions in the Laguna
Salada and Ber
lin PEAs prove to be accurate, (iii) a joint venture will be formed with the provincial petroleum
2
and mining company on the Argentina project, (iv) requisite regulatory and governmental approvals will be
received on a timely basis on terms acceptable to U3
O8 Corp., (v) economic, political and industry market
conditions will be favourable, and (vi) financial markets and the market for uranium will improve for junior
resource companies in the short
-
term. Such statements are subject to risks and uncertainties
that may
cause actual results, performance or developments to differ materially from those contained in such
statements, including, but not limited to: (1) changes in general economic and financial market conditions,
(2) changes in demand and prices for mi
nerals, (3) the Company’s ability to source commercially viable
reactivation transactions and / or establish appropriate joint venture partnerships, (4) litigation, regulatory,
and legislative developments, dependence on regulatory approvals, and changes i
n environmental
compliance requirements, community support and the political and economic climate, (5) the inherent
uncertainties and speculative nature associated with exploration results, resource estimates, potential
resource growth, future metallurgica
l test results, changes in project parameters as plans evolve, (6)
competitive developments, (7) availability of future financing,
(8) the effects of C
O
VID
-
19 on the business
of the Company, including, without limitation, effect
s
of C
O
VID
-
19 on capital mar
kets, commodity prices,
labour regulations, supply chain
disruptions
and domestic and international travel restrictions,
(
9
)
exploration risks, and other factors beyond the control of U3O8 Corp. including those factors set out in the
“Risk Factors” in our
Annual Information Form
dated March 27, 2019 for the fiscal year ended December
31, 2018
available on SEDAR at www.sedar.com. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time
of preparation, may prove to
be imprecise and, as such, undue reliance should not be placed on forward
-
looking statements. U3O8 Corp.
assumes no obligation to update such information, except as may be required by law. For more information
on the above
-
not
ed PEAs, refer to the September 18, 2014 technical report titled “Preliminary Economic
Assessment of the Laguna Salada Uranium
-
Vanadium Deposit, Chubut Province, Argentina” and the
January 18, 2013 technical report titled “U3O8 Corp. Preliminary Economic A
ssessment on the Berlin
Deposit, Colombia.”
Neither the TSX Venture Exchange nor its 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 press relea
se.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S