Kiplin Metals Options Cluff Lake Road Uranium Project, Saskatchewan
NEWS RELEASE
Kiplin Metals Options Cluff Lake Road Uranium Project, Saskatchewan
December 5th, 2021 – Kiplin Metals Inc. (TSX-V: KIP) (the “Company” or “ Kiplin”) is pleased to
announce that it has been granted an option to acquire a one-hundred percent interest in the
Cluff Lake Road Uranium Project (the “CLR Project) from an arms -length third-party. The CLR
Project covers ~531ha in the southwestern Athabasca Basin in northern Saskatchewan, where
several new discoveries, including the Arrow and Tripe R Uranium deposits have been made. The
CLR Project is 5km east of the Cluff Lake Road (Hwy 955), which leads to the historic Cluff Lake
Mine, which historically produced approximately 62,000,000lbs of yellowcake uranium.
The CLR Project adjoins the eastern border of Fission 3.0’s Patterson Lake North Project, which
has a long history of exploration. In 2013 and 201 7 Zadar Ventures Ltd. completed both a DC
Resistivity Geophysical Survey and a Radon Cup Survey at the CLR Project and defined the primary
exploration target: a resistive anomaly, approximately 4km long, trending generally north-south
and which is concurrent with radon gas anomalies, the latter being a uranium decay product.
At present, the Company is specifically reviewing similarities between the Shea Creek Deposit
and the CLR Project. The Shea Creek Uranium Deposit is located ~30km northwest of the CLR
Project and has an indicated mineral resource of 67.66 million pounds of uranium ( 2,067,900
tonnes grading 1.48% U3O8) and an inferred mineral resource of 28.19 million pounds of U3O8
(1,272,200 tonnes grading 1.01% U3O8) (Technical Report by Eriks P. Geo. 2013).
Under the terms of the option, the Company can earn a 100% interest in the CLR Project by
making total cash payments of $120,000 over a 2 -year period and spending $50,000 on
exploration within the first year. Following exercise of the option, the CLR Project will be subject
to a one -percent net smelter returns royalty which can be purchased for a one -time cash
payment of $1,000,000.
Further information on the CLR Project and planned exploration activities will be released in the
coming weeks.
The Company announces that, effective December 1, 2021, the board of directors have elected
Gil Schneider as President and CEO of the Company. Gil Schneider was with Aramark Corporation
for 15 years as Vice President of New Business Development. Aramark at the time had 259,000
employees and annual revenues of over $13 billion. Since leaving Aramark, Gil has gone on to co-
found a number of public companies and serve on the boards of several public and private
companies. Clive Massey has resigned from the board to pursue other opportunities. The
Company thanks Mr. Massey for his services.
Dr. Peter Born, P.Geo., is the designated qualified person as defined by National Instrument 43 -
101 and is responsible for, and has approved, the technical information contained in this release.
For further information, contact the Company at 604-622-1199.
On behalf of the Board of Directors,
“Peter Born”
Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other
than statements of historical fact, are to be considered forward looking. 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 or developments may differ materially from those in forward -looking statements. There
can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the
applicable laws.