ValOre Affiliate Hatchet Uranium Corp. Closes $1,500,000 Financing Related to Saskatchewan Uranium Properties Acquisitions
ValOre Affiliate Hatchet Uranium Corp. Closes $1,500,000 Financing Related to Saskatchewan
Uranium Properties Acquisitions
Vancouver, BC, February 05, 2025 -- ValOre Metals Corp. (“ValOre”; TSX ‐V: VO; OTCQB: KVLQF;
Frankfurt: KEQ0) today provided an update on developments concerning Hatchet Uranium Corp.
(“Hatchet”), in which ValOre currently holds an approximate 56.8% ownership interest.
Hatchet entered into agreements (the “Transactions”) with Skyharbour Resources Ltd. (“Skyharbour”),
(CLICK HERE for ValOre news release on November 4, 2024), whereby Hatchet could acquire an 80%
interest in Skyharbour’s 9,339 hectare (ha) Highway Uranium Property and a 100% interest, subject to a
“claw-back” provision for Skyharbour, in Skyharbour’s Genie, Usam and CBX/Shoe Uranium Projects
totalling 66,358 ha, all located peripheral to the Athabasca Basin, in northern Saskatchewan, Canada.
As part of the Transactions, Hatchet was required to raise $1,500,000 in equity from external investors.
This financing requirement was completed and now the closing of the Transactions with Skyharbour can
proceed expeditiously.
Additionally, as part of the Transactions, Hatchet will make a cash payment of $25,000 and issue 1,452,013
units to Skyharbour and subsequently ValOre will hold an approximate 51.5% equity ownership interest in
Hatchet. An announcement will be made upon final closing.
About Hatchet Uranium Corp.
Hatchet Uranium Corp. was incorporated by ValOre on February 7, 2024. Jim Paterson, ValOre’s Chairman
and Chief Executive Officer, serves as HUC’s Chief Executive Officer and sole director. HUC’s head and
registered office is located at Suite 1020 - 800 West Pender Street, Vancouver, BC V6C 2V6.
About Skyharbour Resources Ltd.
Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and
is well positioned to benefit from improving uranium market fundamentals with interest in thirty-six projects
covering over 614,000 hectares (over 1.5 million acres) of land. Skyharbour has acquired from Denison
Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project, which
is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's
McArthur River uranium mine. Moore is an advanced- stage uranium exploration property with high- grade
uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres,
including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Adjacent to the Moore Project is
the Russell Lake Uranium Project, in which Skyharbour is operator with joint-venture partner Rio Tinto. The
project hosts several high-grade uranium drill intercepts over a large property area with robust exploration
upside potential. The Company is actively advancing these projects through exploration and drill programs.
Skyharbour also has joint ventures with industry leader Orano Canada Inc., Azincourt Energy, and
Thunderbird Resources at the Preston, East Preston, and Hook Lake Projects respectively. The Company
also has several active earn-in option partners, including CSE-listed Basin Uranium Corp. at the Mann Lake
Uranium Project; TSX-V listed North Shore Uranium at the Falcon Project; UraEx Resources at the South
Dufferin and Bolt Projects; Hatchet Uranium at the Highway Project; Mustang Energy at the 914W Project;
and TSX-V listed Terra Clean Energy at the South Falcon East Project. In aggregate, Skyharbour has now
signed earn-in option agreements with partners that total over $36 million in partner- funded exploration
expenditures, over $20 million worth of shares being issued, and $14 million in cash payments coming into
Skyharbour, assuming that these partner companies complete their entire earn-ins at the respective projects.
Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term
partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.
Skyharbour’s Uranium Project Map in the Athabasca Basin:
https://www.skyharbourltd.com/_resources/images/SKY_SaskProject_Locator_2024-02-14_V2.jpg
To find out more about Skyharbour Resources Ltd. (TSX -V: SYH) visit Skyharbour’s website
at www.skyharbourltd.com.
Qualified Person (“QP”)
The technical information in this news release has been prepared in accordance with Canadian regulatory
requirements set out in NI 43-101 and reviewed and approved by Thiago Diniz, P.Geo., ValOre’s QP and
Vice President of Exploration.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX ‐V: VO) is a Canadian company with a team aiming to deploy capital and
knowledge on projects which benefit from substantial prior investment by previous owners, existence of
high-value mineralization on a large scale, and the possibility of adding tangible value through exploration
and innovation.
ValOre’s Pedra Branca Platinum Group Elements Project comprises 45 exploration licenses covering a
total area of 51,096 hectares (126,260 acres) in northeastern Brazil. At Pedra Branca, 7 distinct PGE+Au
deposit areas host, in aggregate, a 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au contained in
63.6 Mt grading 1.08 g/t 2PGE+Au. ValOre’s team believes the Pedra Branca project has significant
exploration discovery and resource expansion potential. (CLICK HERE to download 2022 technical report*
and CLICK HERE for news release dated March 24, 2022).
*The 2022 Technical Report entitled “Independent Technical Report – Mineral Resource Update on the
Pedra Branca PGE Project, Ceará State, Brazil” was prepared as a National Instrument 43- 101 Technical
Report on behalf of ValOre Metals Corp. with an effective date of March 08, 2022. The 2022 Technical
Report by independent qualified persons, Fábio Valério (P.Geo.) and Porfirio Cabaleiro (P.Eng.), of GE21,
commissioned to complete the mineral resource estimate while Chris Kaye of Mine and Quarry Engineering
Services Inc. (MQes), was commissioned to review the metallurgical information. The Mineral Resource
estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using
geostatistical, plus economic and mining parameters appropriate to the deposit. Mineral Resources, which
are not mineral reserves, do not have demonstrated economic viability, and may be materially affected by
environmental, permitting, legal, marketing, and other relevant issues. Mineral Resources are based upon
a cut-off grade of 0.4 g/t PGE+Au, correlated to Pd_eq grade of 0.35 g/t, and were limited by an economic
pit built in Geovia Whittle 4.3 software and following the geometric and economic parameters as disclosed
in the 2022 NI 43-101 Technical Report.
On behalf of the Board of Directors,
“Jim Paterson”
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about ValOre Metals Corp. or this news release, please visit our website
at www.valoremetals.com or contact Investor Relations at 604.646.4527, or by email
ValOre Metals Corp. is a proud member of Discovery Group. For more information, please
visit: http://www.discoverygroup.ca/
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