Premier American Uranium Secures Part Three Drilling Permit for the Cebolleta Project, New Mexico
Premier American Uranium Secures Part Three Drilling Permit for the
Cebolleta Project, New Mexico
Toronto, ON, January 16, 2025 – Premier American Uranium Inc. (“PUR”, the “Company” or “Premier”)
(TSXV: PUR) (OTCQB: PAUIF) is pleased to announce the receipt of an additional Part 3 drilling permit (the
“Permit”) for its Cebolleta Uranium Project located in Cibola County, New Mexico, US (the “Project”). The
Permit was granted by the New Mexico Mining and Minerals Division ( “MMD”) for drilling up to 25
boreholes utilizing 25 drill pad surface areas to explore for more uranium on the Project.
This new Permit represents a significant milestone in the Project's advancement and development path
and demonstrates the strength of PUR’s technical team in managing the permitting process as well as an
effective working relationship with regulatory authorities. The Permit application, submitted in March
2024, was designed to facilitate the additional confirmation drilling anticipated to be required to validate
historic drilling on the Project for inclusion in a n initial Mineral Resource Estimate (“MRE”)*. In June of
2024, PUR completed the MRE ahead of schedule relying on the successful confirmation drilling completed
in 2023 and negating the necessity for much of the additional confirmation drilling contemplated in this
Permit application.
As a result, PUR expects to realize substantial cost savings over its original confirmation drilling budget
estimate under this Permit with increased flexibility and discretion on drilling. With the Permit now
secured, PUR is contemplating drilling up to five technical confirmation holes in Area 3 (see Figure 1), while
examining amending both this new Permit and the pre-existing Part 3 permit issued in 2023 for resource
expansion drilling. The PUR technical team completed extensive archeological and biological clearance
studies at the Project in fall of last year in support of amending this Permit for expansion drilling and can
immediately begin the amendment process.
PUR’s goals for 2025 for the Cebolleta Project include:
• Continuation of ongoing Cultural, Archeological and Biological studies in support of a Part
4 permit application (which allows for more robust and flexible drilling);
• Conduct drill work under the newly issued Part 3 permit;
• Update the Cebolleta MRE; and
• Materially de -risk the Project with completion of a Preliminary Economic Assessment
(“PEA”) targeting summer 2025.
* The Technical Report (as defined herein) with an effective date of April 30, 2024, includes an Indicated
Mineral Resource estimate of 18.6 million pounds of eU₃O₈ (6.6 million short tons at an average grade of
0.14% eU₃O₈) and an Inferred Mineral Resource estimate of 4.9 million pounds of eU₃O₈ (2.6 million short
tons at an average grade of 0.10% eU₃O₈). See “Qualified Person Statement” below.
Colin Healey, CEO of PUR, commented, “The receipt of this Permit underscores the diligence and expertise
of our team in navigating the permitting process efficiently and effectively. With multiple milestones
achieved ahead of schedule at Cebolleta, we are now positioned to rapidly advance and de-risk the Project
in 2025. We will aim to initiate certain technical drilling, as recommended in the NI 43-101 technical report
on the Project, as well as potential resource expansion drilling (partly contingent on permit amendment),
all in preparation for targeted delivery of an updated MRE and PEA this year. By leveraging a strategic and
cost-conscious approach, we aim to deliver maximum value for our stakeholders , already materializing
with the delivery of the MRE in June 2024, well ahead of plan and significantly reducing expected drilling
costs and paving a path to establishing preliminary economics much earlier than we anticipated. We look
forward to providing further updates on our plans as they are finalized.”
Figure 1: Location of the Cebolleta Project and Known Uranium Deposits
The Project has been a cornerstone PUR’s portfolio since its acquisition in 2024. Uranium mineralization
at the Project are the northern extension of the Jackpile-Paguate trend of uranium deposits, which is one
of the largest sandstone-hosted uranium endowments in the world.1,2 Collectively, the mines of the Laguna
mining district produced more than 100 million pounds of U 3O8 from the Jackpile-Paguate trend during
the period from 1951 to 1983, as documented by geologists of the New Mexico Bureau of Geology and
1 World’s Largest Giant Uranium Deposit in New Mexico. US Geological Survey Open File Report 82-539, 1982.
(https://pubs.usgs.gov/of/1982/0539/report.pdf)
2 The Jackpile-Paguate Uranium Mine, Grants Uranium District: Changes in perspectives from production to
superfund site Virginia T. McLemore, Bonnie A. Frey, Ellane El Hayek, Eshani Hettiarachchi, Reid Brown, Olivia
Chavez, Shaylene Paul, and Milton Das
Mineral Resources and the US Department of Energy.2 The northern continuation of the Jackpile-Paguate
trend of uranium deposits onto the southern part of the Project property is well established, but the extent
of mineralization is not fully defined, representing several important potential exploration and growth
opportunities for the Company.
Qualified Person Statement
The scientific and technical information contained in this news release was reviewed and approved by
Mike Thompson, P .Geo., a consultant to PUR who is a “Qualified Person” (as defined in National Instrument
43-101 – Standards of Disclosure for Mineral Projects).
For additional information regarding the Project, including details of the MRE and data verification related
to certain scientific and technical information described in this news release, please see the Technical
Report titled “Technical Report on the Cebolleta Uranium Project, Cibola County, New Mexico, USA” dated
June 17, 2024 and with an effective date of April 30, 2024 (the “Technical Report”), which is available
under the Company’s profile on SEDAR+ at www.sedarplus.ca.
About Premier American Uranium Inc.
Premier American Uranium is focused on the consolidation, exploration, and development of uranium
projects in the United States, aiming to strengthen domestic energy security and support the transition to
clean energy. One of PUR’s key strengths is the extensive land holdings in three prominent uranium -
producing regions in the United States: the Grants Mineral Belt of New Mexico, the Great Divide Basin of
Wyoming and the Uravan Mineral Belt of Colorado.
With current resources and defined resource exploration targets, PUR is actively advancing its portfolio
through work programs. PUR benefits from strong partnerships, with backing from Sachem Cove Partners,
IsoEnergy Ltd., Mega Uranium Ltd., and other insti tutional investors. The Company’s distinguished team
had extensive experience in uranium exploration, development, permitting, and operations, as well as
uranium-focused mergers and acquisitions—positioning PUR as a key player in advancing the U.S. uranium
sector.
For More Information, Please Contact:
Premier American Uranium Inc.
Colin Healey, CEO
Toll-Free: 1-833-223-4673
Twitter: @PremierAUranium
www.premierur.com
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the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward -looking information” within the meaning of applicable Canadian
securities laws. Forward-looking information includes, but is not limited to, statements with respect to
planned exploration activities ; the completion of an updated MRE and PEA and the anticipated timing
thereof; expected cost savings in connection with the Company’s planned exploration activities; the
Company’s ongoing business plan and intended strategic focus , including goals for 2025 ; and other
activities, events or developments that are expected, anticipated or may occur in the future. Generally, but
not always, forw ard-looking information and statements can be identified by the use of words such as
“plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
or “believes” or the negative connotation thereof or variatio ns of such words and phrases or statements
that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved” or the negative connotation thereof.
Forward-looking information and statements are based on our current expectations, beliefs, assumptions,
estimates and forecasts about PUR’s business and the industry and markets in which it operates. Such
forward-information and statements are based on num erous assumptions, including among others, that
planned exploration activities are completed as currently contemplated, that the results of such exploration
activities are as anticipated and will be reported when expected, the price of uranium, the anticipated cost
of planned exploration activities, the completion, timing and results of planned exploration activities being
consistent with expectations, the anticipated mineralization being consistent with expectations, that
general business and economic cond itions will not change in a material adverse manner, that financing
will be available if and when needed and on reasonable terms, that third party contractors, equipment and
supplies and governmental and other approvals required to conduct the Company’s pl anned exploration
activities will be available on reasonable terms and in a timely manner. Although the assumptions made
by PUR in providing forward -looking information or making forward -looking statements are considered
reasonable by management at the time, there can be no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known and unknown risks and uncertainties and
other factors, which may cause actual results, performances and achievements of Premier American
Uranium to differ materially from any projections of resu lts, performances and achievements of Premier
American Uranium expressed or implied by such forward -looking information or statements, including,
among others: actual results of exploration activities being different than anticipated, the limited operating
history of the Company, negative operating cash flow and dependence on third party financing, uncertainty
of additional financing, delays or failure to obtain required permits and regulatory approvals, changes in
mineral resources, no known mineral reserves, aboriginal title an d consultation issues, reliance on key
management and other personnel; potential downturns in economic conditions; availability of third party
contractors; availability of equipment and supplies; failure of equip ment to operate as anticipated;
accidents, effects of weather and other natural phenomena and other risks associated with the mineral
exploration industry; changes in laws and regulation, competition, and uninsurable risks and the risk
factors with respect to Premier American Uranium set out in PUR’s annual information form for the year
ended December 31, 2023 and the other documents of PUR filed with the Canadian securities regulators
and available under PUR’s profile on SEDAR+ at www.sedarplus.ca.
Although PUR has attempted to identify important factors that could cause actual actions, events or results
to differ materially from those contained in the forward-looking information or implied by forward-looking
information, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking information and statements will prove to be accurate, as
actual results and future events could differ materially from those anticipated, esti mated or intended.
Accordingly, readers should not place undue reliance on forward-looking statements or information. PUR
undertakes no obligation to update or reissue forward-looking information as a result of new information
or events except as required by applicable securities laws.