Purecore Metals Secures Option for Athabasca Basin Uranium Project

The deal requires Purecore to commit $350,000 in cash, $700,000 in common shares, and $3,500,000 in exploration expenditures over three years to earn an initial 70% stake. The company retains a subsequent option to acquire the remaining 30% interest through an additional $6,000,000 investment in cash and shares. The agreement also includes a 2% net smelter return royalty, though Purecore holds the right to purchase half of that royalty for $1,000,000.

Spanning 22 claims, the Yurchison property is situated 75 kilometres south of the Rabbit Lake operation. While historical exploration in the area yielded uranium values between 0.09% and 0.30% U3O8, the site has seen limited modern follow-up work since 2000. Purecore intends to leverage recent 2022 and 2023 geophysical survey data to explore basement-hosted uranium and potential copper-lead-zinc mineralization. The transaction remains subject to regulatory approval from the Canadian Securities Exchange.