The Company disseminated a news release announcing the material change described herein through the news dissemination services of Newsfile Corp. on
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1 Name and Address of Company
Indigo Exploration Inc. (the “Company”)
1100 – 1199 West Hastings Street
Vancouver, BC V6E 3T5
Item 2 Date of Material Change
August 15, 2024
Item 3 News Release
The Company disseminated a news release announcing the material change described herein through the
news dissemination services of Newsfile Corp. on August 15, 2024, and a copy was subsequently filed on
SEDAR+.
Item 4 Summary of Material Change
The Company announced that it has completed the acquisition of a 100% interest in the Hot Property, a
highly prospective uranium project located in the past producing Shirley Basin of Wyoming, comprised of
71 unpatented mineral claims covering a 5.75 km2 area.
Item 5 Full Description of Material Change
5.1 Full Description of Material Change
Please see the news release appended hereto as Schedule “A”.
5.2 Disclosure for Restructuring Transactions
Not applicable.
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not applicable.
Item 7 Omitted Information
Not applicable.
Item 8 Executive Officer
For further information, please contact Paul Cowley, Chief Executive Officer, President, Chief Executive
Officer and Director of the Company, at 604-340-7711.
Item 9 Date of Report
August 23, 2024
Schedule “A”
Indigo Reports Transaction Closing on Hot Uranium Project, Wyoming
Vancouver, BC, August 15, 2024 – Indigo Exploration Inc. (the “Company”) (TSX -V: IXI, OTCQB:
IXIXF, FSE: INEN) is pleased to announce that further to its news release dated July 9, 2024, it has received
TSX Venture Exchange (“ TSXV”) approval for and completed the acquisition of a 100% interest in the
Hot Property (the “Property”), a highly prospective uranium project located in the past producing Shirley
Basin of Wyoming, comprised of 71 unpatented mineral claims covering a 5.75 km 2 area (the
“Acquisition”).
The Hot Property claims have seen extensive historical exploration dating back to the 1960s with over 200
holes drilled including near-surface intercepts of 1.83 metres of 1.1% U 3O8 at a depth of 43.0 metres and
3.35 metres of 0.28% U 3O8 at a depth of 26.8 metres. The Project is located adjacent to Uranium Energy
Corp.’s (UEC -NYSE) Shirley Basin project, Ur -Energy Inc.’s (URG -NYSE) Shirley Basin mine, and
Nuclear Fuels Inc.’s (NF-CSE) Bobcat Uranium Project. Ur-Energy’s Shirley Basin project hosts an NI 43-
101 Measured and Indicated Resource of 8.8 Mlb U3O8 grading 0.23%1 and is currently under construction2.
The Shirley Basin of Wyoming
Wyoming represents the largest uranium producing state and contains the greatest uranium ore reserves
within the United States. The Shirley Basin located 40 miles southwest of Casper, Wyoming, produced
over 51 million pounds of U3O8 from 1960 to 1992 at an average grade of 0.22% U3O8. The Shirley Basin
mines closed not for a lack of resource but due to lower uranium prices. The importance and relevance of
the Shirley Basin today is reflected in production resurgence with Ur-Energy’s production plans.
Figure 1: Shirley Basin Uranium Project Map
Hot Property
The Hot Property is strategically located just 800m east (0.5 mile) of an historic production area and 1.8km
(1.1 miles) from Ur-Energy’s uranium resource. Indigo uncovered 202 drill logs from public records from
holes drilled in the 1950’s on ground now covered by the Hot Property. One intercept (H1 -Zeb-44)
encountered 1.83m of 1.1% U 3O8 at a depth of 43.0m and a second hole (H6 -Zeb-44) encountered 3.35m
of 0.28% U 3O8 at a depth of 26.8m. Of the 202 holes, approximately 46% intercepted shallow uranium
mineralization. Depth to mineralization ranges from 3m to 130m but average 46m deep in Eocene-aged
Wind River Formation, the uranium host unit in the Shirley Basin. The Hot Property is particularly
promising as one third of the mineralized holes on the property have two or more uranium intercepts.
Company geologists have designed an initial 50-hole reverse circulation drill program and has submitted a
Notice of Intent permit application to the BLM for permitting of the RC drill program.
1 Updated Initial Assessment Technical Report Summary on Shirley Basin ISR Uranium Project, Carbon County
Wyoming, USA dated March 4, 2024 and prepared by Western Water Consultants, Inc.
2 Ur-Energy Announces Decision to Build Out Shirley Basin Mine: Press Release dated March 13, 2024
Terms of Transaction
Pursuant to the Acquisition, the Company has acquired a 100% interest in a private limited liability Arizona
company which holds the Property claims. The Company has paid an aggregate of CDN$20,000 and made
a share issuance of 200,000 shares of the Company to earn the 100% interest, without any NSR royalty. In
addition to the Acquisition costs, the Company will assume the annual land holding costs for the Property,
which will amount to US$14,200 before September 1, 2024. The transaction closed on August 14, 2024.
On Behalf of the Board of Directors,
“Paul Cowley”, President and CEO
For further information, please contact: Paul Cowley: (604) 340-7711
Website: www.indigoexploration.com
Bradley Parkes, P.Geo., VP Exploration and Director of Indigo Exploration Inc., is the Qualified Person as defined
in National Instrument 43-101, who has read and approved the technical content of this news release.
This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs
and intentions. Forward looking statements are frequently identified by such words as "may", "will", "plan", "expect",
"anticipate", "esti mate", "intend" and similar words referring to future events and results. Forward -looking
statements are based on the current opinions and expectations of management. All forward -looking information is
inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature
of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of
financing, as described in more detail in our recent securities filings availa ble at www.sedar.com. Actual events or
results may differ materially from those projected in the forward -looking statements and we caution against placing
undue reliance thereon. The forward-looking statements contained in this press release are made as of the date hereof.
Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.