Aero Energy Announces Drilling Underway at the Murmac Uranium Project, Athabasca Basin, Saskatchewan Discovery of Intense Radioactivity at Surface up to 60,793 cps* while Scouting Drill Sites
Aero Energy Announces Drilling Underway at the Murmac Uranium Project, Athabasca
Basin, Saskatchewan
Discovery of Intense Radioactivity at Surface up to 60,793 cps* while Scouting Drill Sites
Vancouver, British Columbia – June 12, 2024 - Aero Energy Ltd (TSXV: AERO) (OTC Pink:
AAUGF) (FSE: 13L0) (“Aero” or the “Company”) is pleased to announce the commencement of
drilling at its Murmac Uranium Project in the Athabasca Basin, Saskatchewan. This significant
milestone follows the recent identification of thirteen high-priority drill targets, marking the start of
Aero's first-ever drill program (read the news release here).
Drilling Program
Drilling is now underway on the first hole and will cover approximately 2,600 meters through ten
to thirteen drill holes at the Murmac Project . The program, operated by Fortune Bay Corp., is
designed to explore for high-grade basement-hosted uranium deposits and is adaptable based
on real -time findings. The targets were selected based on a high- resolution VTEM ™ survey
completed in April 2024 and 3D modelling of ground gravity data. Geophysical signatures,
geological features, proximity to historical uranium occurrences, and positive past drilling results
by Fortune Bay further informed these selections.
Drilling has begun at target P7 with targets A15 and P4 scheduled next. Target descriptions and
locations are provided in Table 1 and Figure 1, respectfully.
In addition to Murmac, Aero is prioritizing further exploration at the Sun Dog and Strike projects,
planning an additional 2,000 meters of fully funded drilling. These efforts highlight Aero's
commitment to uncovering high-grade uranium deposits across its 250,000-acre land package in
the Athabasca Basin.
Discovery of Radioactivity Proximal to Targets
Two occurrences of strong to intense radioactivity have been discovered at surface while scouting
the initial drill site locations.
Target A15: 60,793 counts- per-second* in the hanging wall of the target within hematized
foliation parallel fractures.
Target P4: 13,533 counts- per-second in the hanging wall of the target within hematized fault
hosted fractures perpendicular to foliation.
*Measured by handheld RS-125 Super-SPEC gamma ray spectrometer manufactured by Radiation Solutions Inc.
Galen McNamara, CEO of Aero Energy, stated, “ The identification of new zones of strong
radioactivity adjacent to drill pads and in close association with the targets below underscores the
prospectivity of the Murmac Project. Thanks to the robust earlier exploration work by Fortune Bay
and the collaborative target selection process, we are poised to embark on this exciting phase of
our drilling program and look forward to the potential discoveries ahead.”
Figure 1: Murmac Drill Targets
Figure 2: Strong to intense radioactivity measured at targets A15 (left) and P4 (right)
Table 1: Murmac 2024 Drill Targets
Conductor
Corridor Target Target Summary
Pitchvein
P7
Along strike follow-up of mineralized intercepts and strong alteration in M22-013 & 014
(Fortune Bay holes). Test for extensions of historical mineralization in CKI-9 (1.01% U3O8
over 2.0 m) and CKI-10 (2.19% U3O8 over 0.5 m).
P4 Along strike follow-up of mineralized intercepts in M22-013 & 014 (Fortune Bay holes).
Test intersection of Pitchvein Corridor with property-scale, mineralized cross-fault.
Howland
H6 Geophysical target (EM and gravity).
H15 Geophysical target (EM and gravity). Intersection of conductor and property-scale,
mineralized cross-fault, beneath lake.
H16 Geophysical target (EM and gravity). Along strike of M22-012 (0.17% U3O8 over 0.1 m)
(Fortune Bay hole).
H17 Geophysical target (EM and gravity) at a flexure in the Howland Conductor.
Armbruster
A15 Geophysical target (EM and gravity) at intersection of conductor and mineralized cross-
fault.
A17 Intersection of conductor and property-scale, mineralized cross-fault. Conductor
break/termination.
A18 Geophysical target (EM and gravity). Located along strike to south of Quartzite Ridge
uranium showings.
A19 Geophysical target (EM and gravity). Located along strike to south of Quartzite Ridge
uranium showings at a flexure in the Armbruster Conductor.
A20 Intersection of conductor and mineralized cross-fault.
A21 Geophysical target (gravity) at intersection of conductor and mineralized cross-fault. Up-
ice of 8.82% U3O8 boulder.
A22 Geophysical target (EM and gravity) located at a break in the Armbruster conductor.
About the Murmac Project
Murmac, situated between the historical Gunnar and Lorado Uranium Mines, has shown
significant promise. Historical exploration (1960 -1980) revealed numerous high- grade uranium
occurrences, though these were not systematically explored for basement-hosted mineralization
typical of the Athabasca Basin. A 2022 drilling program by Fortune Bay confirmed the potential
for high-grade uranium with significant findings in several drill holes, validating the exploration
model.
Corporate Update
The Company also announces that it has entered into an agreement with Triomphe Holdings Ltd.
(dba Capital Analytica) (“Capital Analytica”) for investor relations and communication services
(the “Consulting Agreement”). The Consulting Agreement has an initial term of six months,
commencing June 15, 2024 under which the Company will pay to Capital Analytica an aggregate
of $120,000 at a rate of $20,000 per month, and has an option to renew the Consulting Agreement
for an additional 6 months at a rate of $10,000 per month, unless terminated earlier in accordance
with the Consulting Agreement. Pursuant to the terms of the Consulting Agreement, Capital
Analytica will provide ongoing capital markets consultation, ongoing social media consultation
regarding engagement and enhancement, social sentim ent reporting, social engagement
reporting, discussion forum monitoring and reporting, corporate video dissemination, and other
related investor relations services. Capital Analytica is a Nanaimo based company owned and
operated by Jeff French who is arm’s length to the Company and holds no securities, directly or
indirectly of the Company.
Qualified Person
The technical content of this news release has been reviewed and approved by Galen McNamara,
P. Geo., CEO of the Company and a qualified person as defined by National Instrument 43-101.
About Aero Energy Limited
Aero Energy is a mineral exploration and development company advancing a district -scale
250,000-acre land package in the historic Uranium City district within Saskatchewan's Athabasca
Basin. Aero Energy is focused on uncovering high- grade uranium deposits across its flagship
optioned properties - Sun Dog, Strike, and Murmac - in addition to its fully owned properties. With
the application of modern exploration techniques, the Company has identified over 50 shallow
drill-ready targets and 125 kilometres of target horizon on the frontier north rim of the Athabasca
Basin. Aero Energy is tapping into the Athabasca Basin's emergi ng potential for high- grade,
unconformity-style mineralization.
On Behalf of the Board of Directors
Galen McNamara, Interim Chief Executive Officer
Further information on the Company can be found on the Company's website
at aeroenergy.ca and at www.sedarplus.ca, or by contacting the Company by email
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