Puranium Energy Receives Approvals FOR the Transfer of Four Epls from Namibian Government
PRESS RELEASE
www.puraniumenergy.com
CSE: UX FSE: 2DK [email protected]
PURANIUM ENERGY RECEIVES APPROVALS FOR THE TRANSFER OF
FOUR EPLS FROM NAMIBIAN GOVERNMENT
For Immediate Release
TORONTO, ON – July 18, 2022 – Puranium Energy Ltd. (the “Company” or “Puranium”)
(CSE:UX and FSE:2DK) is pleased to announce that the Company has received official
government approvals from the Namibian Ministry of Mines and Energy for the transfer of
licenses EPL-7394, EPL-7646, EPL-7907 and EPL-8084.
Figure 1 – Puranium Property Map
While the Company already has the ability to work on all of the EPLs, the official approval to
transfer these four EPLs accounts for 88% of the recently purchased uranium exploration
portfolio, which are now owned by Puranium’s 85%-owned Namibian subsidiaries. As per
the purchase agreement, now that the EPLs have been transferred the Company has issued
to the vendors 88% of the purchase price, being US$154,578 and 7,773,140 common shares,
which included 706,640 common shares paid as a finder’s fee. The balance of US$20,422
and 1,026,860 common shares, including 93,630 common shares for the finders, will be paid
when the transfers of the remaining three EPLs are completed.
PRESS RELEASE
www.puraniumenergy.com
CSE: UX FSE: 2DK [email protected]
This issuance increases Puranium’s tightly-held, capital structure to 17,018,116 common
shares and 5,530,000 common share purchase warrants (CSE:UX.WT), which are exercisable
at $0.35 until December 23, 2023.
“We continue to work through the historical data on the EPLs in order to complete a
formulated plan for exploration for the third and fourth quarters of this year. The transfer
of the EPLs is the first sign of our good standing with the Namibian Government and we look
forward a strong and fruitful relationship moving forward,” stated Puranium President and
CEO, Jason Bagg. “We look forward to getting on the ground and finding uranium on our
EPL’s”, added Mr. Bagg.
Qualified Person
Bruce Durham, P.Geo., is a Qualified Person, as that term is defined by Canadian regulatory
guidelines under NI 43-101, and has read and approved the technical information contained
in this press release.
On behalf of the Board,
Jason Bagg,
President & CEO, Director
About Puranium Energy Ltd.
The Company is focused on the uranium exploration of its 85% interest in seven EPLs (the
“Estate Uranium Properties”) totaling 93,514 hectares in the Erongo Province of Namibia,
which accounts for approximately 8% of the world’s uranium production. The Company also
has an option to purchase a 100% interest in 35 mineral claims in Ontario.
For more information, please contact investor relations at
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility
for the adequacy or accuracy of this press release
This press release may include forward-looking information within the meaning of Canadian securities legislation,
concerning the business of the Company. Forward-looking information is based on certain key expectations and
assumptions made by the management of the Company. Although the Company believes that the expectations and
assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be
placed on the forward-looking information because the Company can give no assurance that they will prove to be
correct. Forward-looking statements contained in this press release are made as of the date of this press release. The
Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of
new information, future events or results or otherwise, other than as required by applicable securities laws.