Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQX: SYHBF ) (Frankfurt: SC1P ) (‘Skyharbour’ or the ‘Company’), is pleased to announce that its partner company, North Shore Uranium (‘North Shore’), has provided an update on its Falcon property (‘Falcon’) regarding the prioritization of target generation efforts. Falcon is located at the eastern margin of the Athabasca Basin in northern Saskatchewan. In its September 17, 2024, October 10, 2024, and November 13, 2024 news releases, North Shore summarized work being done at the West Bear and Falcon properties with three priority areas established at Falcon, Zones 1, 2 and 3. North Shore may acquire an initial 80% interest in Falcon by issuing common shares having an aggregate value of CAD $1,225,000, making aggregate cash payments of $525,000 to Skyharbour, and incurring an aggregate of $3,550,000 in exploration expenditures on the property over a three-year period.

Location Map of Falcon Project:  
https://skyharbourltd.com/_resources/maps/Sky-SouthFalconOption.jpg?v=0.1

To date, North Shore has identified 36 uranium targets at Falcon. The targets are associated with electromagnetic (‘EM’) conductor anomalies and have been selected based on the analysis and interpretation of multiple datasets by North Shore and its consultants. As reported on May 16, 2024, North Shore discovered near-surface uranium mineralization at P03 and P08 at two of these targets, FA033 and FA006, respectively, in an area that had never seen drilling. North Shore believes that these new uranium occurrences could be part of a new trend of uranium mineralization that could extend to the south-southwest and to the west-northwest. North Shores near-term focus is to assess the potential for an economic uranium deposit in this area by evaluating priority near-surface EM targets in the South Priority Area at the eastern end of Zone 1 and the South Walker area at the southern end of Zone 2.

Falcon is located approximately 30 km east of the active Key Lake uranium mill and former mine at the eastern margin of the Athabasca Basin in Saskatchewan. The mill processes uranium ore from the McArthur River Mine, one of two producing uranium mines in Canada. Between 1983 and 2002, Key Lake Mine produced a total of 209.9 million lbs. of U ₃ O ₈ at an average grade of over 2.0%. The uranium discovery potential at Falcon is significant and includes shallow basement-hosted unconformity-style and pegmatite-hosted mineralization. The Property has seen limited modern exploration programs and there are a number of unexplained uranium occurrences. Terra Clean Energy Corp. (CSE: TCEC) is currently conducting a drill program at its Falcon East Uranium project which lies directly east of Falcon.

Map Showing Falcon Exploration Targets and Priority Zones:  
https://www.skyharbourltd.com/_resources/images/Map-showing-Falcon-exploration-targets-and-priority-zones-2.jpg

Mr. Brooke Clements, President and CEO of North Shore stated: ‘ We believe that Saskatchewan’s Athabasca Basin is the best jurisdiction in the world for uranium exploration and development.   In the last few years, the region has seen an unprecedented level of claim staking and exploration activity. We have a great pipeline of uranium targets at Falcon with the potential to host a significant near-surface uranium deposit. Our near-term focus is to evaluate targets at the south end of the Property within a trend associated with the new uranium discoveries we made in 2024.’

South Priority Area:

Within Zone 1, the South Priority Area includes the three km long NNE-trending conductor/structural zone where uranium was discovered by North Shore in drill holes P03 and P08. As reported on May 16, 2024, at P03, a zone from 196.6 to 209.0m included an interpreted brittle fault zone with graphite-rich fault gouge and two samples that returned 345 and 378 ppm U ₃ O ₈ . At P08, a 4.7 m interval between 42.3-47.0m returned 316 ppm U ₃ O ₈ including one sample with 572 ppm U ₃ O ₈ . Also, at P08, a brittle, altered pegmatitic and graphitic fault zone with elevated U ₃ O ₈ values up to 50 ppm was intersected between 102.3-105.5m, the modelled depth of the EM conductor.

South Priority Area Discovered by North Shore in 2024 at Targets P03 and P08:  
https://www.skyharbourltd.com/_resources/images/South-Priority-Area-where-uranium-mineralization-was-discovered-in-2024-at-drill-targets-P03-and-P08.jpg

Within the potential mineralized trend, targets FA003 and FA004 offer the potential to extend the occurrence of mineralization along the conductor system. At FA003 the EM conductor system and an associated magnetic low are disrupted and the system splits, with one arm going to the northeast, the other to the north-northeast. In addition, there is a gravity low anomaly which can be an expression of alteration that could be associated with uranium mineralization. At target FA004, which is 1.5 km north of FA003, the conductor is offset near the intersection of two interpreted crosscutting faults.

Target FA003 With Gravity Background, Zone 1:  
https://www.skyharbourltd.com/_resources/images/Target-FA003-with-gravity-background-Zone-1.jpg

Approximately two km south of FA003 target FA002 is defined by two strong parallel EM conductors and a parallel magnetic low. The target zone is intersected by an interpreted northwest-trending fault. In addition, just to the southeast of the target there is a strong uranium anomaly defined by the 2022 airborne radiometric survey.

Located approximately five km south of the Fraser Lakes B deposit, target FA005 is defined by a strong EM signature that is intersected by an interpreted north-south fault.

Target FA002 With Magnetics Background, Zone 1:  
https://www.skyharbourltd.com/_resources/images/Target-FA002-with-magnetics-background-Zone-1.jpg

South Walker Area:

Due to the presence of a strong northeast-trending EM conductor system, the South Walker Area has been the focus of exploration programs in the past. In 1979, Brinex Ltd. drilled three holes. In 2008, JNR Resources drilled six holes in the area. Structure-associated clay and chlorite alteration were reported in several holes and elevated copper, molybdenum, nickel, cobalt and vanadium were encountered in one hole (Sask. Mineral Assessment File 74H02-0045). North Shore intends to test the southern end of the trend. In early 2024, North Shore drilled one hole at target FA0036, P12, but the hole was abandoned at 107.6 m, short of the targeted conductor depth of 125 m owing to unstable ground conditions. Whilst no significant uranium results were returned from North Shore’s drilling at P12, a fault zone with elevated Boron values up to 74 ppm was identified from 10-12 m. The parallel EM conductors within targets FA007 and FA0036 are a priority exploration focus for North Shore. At the P12 location the glacial overburden is only 2.5 m thick.

Summary of the South Walker Area:  
https://www.skyharbourltd.com/_resources/images/Summary-of-the-South-Walker-Area.jpg

The five holes drilled by JNR Resources within target FA010 from four sites in 2008 did not encounter significant mineralization despite the compelling characteristics of the EM conductor. A strong gravity low anomaly was identified by North Shore from the 2022 airborne gravity survey. This anomaly coincides with the EM conductor and an interpreted north-south-trending fault. The geophysics and drilling results are being studied to determine if more drilling to intersect the gravity anomaly is warranted.

Target FA010 With Data From the 2022 Airborne Gravity Survey:  
https://www.skyharbourltd.com/_resources/images/Target-FA010-with-data-from-the-2022-airborne-gravity.jpg
‎

Next Steps:

North Shore will continue prioritizing targets at Falcon in pursuit of maximizing the chances of encountering economic uranium mineralization in its next drill program. As currently planned, that drill program would initially focus on several targets in the South Priority Area of Zone 1 and the South Walker Area of Zone 2. EMIT Maxwell software was used to create subsurface models of interpreted conductors from priority areas in Zones 1 and 2 to optimize placement of drill collars. Additional updates on the Company’s target prioritization efforts will be provided on an ongoing basis.

Falcon Uranium Project:

The Falcon Project, which constitutes part of North Shore’s Falcon Property, contains eleven mineral claims comprising approximately 42,908 hectares approximately 50 km east of the Key Lake mine. Nine of the claims are from Skyharbour’s original South Falcon Uranium Project and the remaining two claims are from Skyharbour’s Foster River Project. Historical uranium mineralization discovered at Falcon is shallow and is hosted in several geological settings including classic Athabasca-style basement mineralization associated with well-developed EM conductors. At the EWA target, up to 0.492% U ₃ O ₈ and 1,300 ppm lead was encountered in outcrop grab samples (Sask. Mineral Deposits Index [SMDI] 5038). Historical grab sampling at Knob Lake (SMDI 1014) also encountered up to 0.01% U ₃ O ₈ in an outcrop of pegmatite, while anomalous nickel, copper, and molybdenum were found in historical grab samples from the Fraser North target area (SMDI’s 1125 and 1126).

A well-defined northeast-trending, locally folded, electromagnetic conductor system runs throughout the Property, which was defined by airborne and ground geophysical surveys by JNR Resources (‘JNR’) in the 2000’s. In 2008 JNR conducted a drill campaign at the property area. Of the 47 holes drilled that year, 28 holes (totaling 7,348 metres) were drilled on the South Falcon Uranium Property at the Walker (14 holes), Walker South (7 holes), and EWA target areas (6 holes). At the Walker and South Walker targets, which lie along the aforementioned EM conductor system, structurally disrupted and variably altered metasediments (including graphitic pelitic gneisses) with anomalous boron, copper, molybdenum, nickel, cobalt, arsenic, and vanadium were encountered in several drill holes. During this same drill campaign, the Fraser Lakes Zone B uranium deposit was discovered approximately four kilometres east of the Walker South target on a refolded extension of the EM conductor system. At the EWA target, which lies along a separate northeast-trending EM conductor, anomalous uranium, boron, lead, and molybdenum were encountered in structurally disrupted pegmatites; the best result was 0.235% U ₃ O ₈ over 0.5 m (within a 3.5 m interval of 0.113% U ₃ O ₈ ) in hole WYL-08-501 (Sask. Mineral Assessment File 74H02-0045).

Furthermore, in 2022, Skyharbour completed a FALCON® airborne gravity gradiometer and magnetic survey over nine of the eleven claims at the Falcon Property. This new geophysical data will assist North Shore in prioritizing areas along the EM conductor system for drilling. Over 30 kilometres of the EM conductor system remains untested on the Falcon Property. North Shore’s initial focus will be on the two claims formerly part of the Foster Project (geophysics), and on generating drill targets on three claims at the southeastern end of the EM conductor systems including Knob Lake, which shows similarities to the Fraser Lakes Zone B deposit approximately 6 km to the northeast and several other high-priority targets elsewhere along the main EM conductor system.

Significant potential exists on the project for basement-hosted, unconformity-related uranium deposits like those further to the north in the Wollaston Domain (i.e. Eagle Point, Rabbit Lake, Key Lake and others), as well as for pegmatite/granite-hosted (i.e. alaskite-type) U-Th-REE mineralization like at the Fraser Lakes Zone B deposit on Skyharbour’s adjacent South Falcon East Property, currently under option to Tisdale Clean Energy.

The Option Agreement:

North Shore may acquire an initial 80% interest in the Property by issuing common shares of the Resulting Issuer (‘Shares’) having an aggregate value of CAD $1,225,000; making aggregate cash payments of CAD $525,000; and incurring an aggregate of CAD $3,550,000 in exploration expenditures on the Property over a three-year period. Once North Shore has earned an initial 80% interest in the Property, North Shore may acquire the remaining 20% interest in the Property within 90 business days by issuing Shares having a value of CAD $5,000,000, and making a cash payment of CAD $5,000,000 to Skyharbour. If North Shore does not elect to acquire the remaining 20% interest, a joint venture will be formed with Skyharbour holding a 20% participating interest.

North Shore will be the operator of the exploration programs during the earn-in stage and for the joint venture if formed. Two claims totaling 10,673 hectares that form part of Skyharbour’s Foster River Property are subject to a one percent (1%) NSR royalty payable to Skyharbour. The remaining nine claims totaling 32,235 hectares that comprise Skyharbour’s South Falcon Point Property are subject to a two percent (2%) NSR royalty payable to Denison Mines Corp. (‘Denison’) with North Shore having the right to purchase one percent of the royalty from Denison at anytime by paying $1 million. All Shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Serdar Donmez, P.Geo., VP of Exploration for Skyharbour as well as a Qualified Person.

About North Shore Uranium Ltd:

North Shore is a mineral exploration company focused on uranium exploration at the eastern margin of the Athabasca Basin through its Falcon property which will increase from 12,800 to 55,700 hectares with the addition of the claims subject to the Agreement, and the West Bear property located 90 kilometres to the northeast.

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 in several zones at the Maverick Corridor. Adjacent to the Moore Project is the Russell Lake Uranium Project, in which Skyharbour is operator with joint-venture partner RTEC. The project hosts widespread uranium mineralization in drill intercepts over a large property area with exploration upside potential. The Company is actively advancing these projects through exploration and drilling 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; CSE-listed 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 to 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_2024-11-21_v1.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com .

Skyharbour Resources Ltd.

‘Jordan Trimble’
_________________________________
Jordan Trimble
President and CEO

For further information contact myself or:
Nicholas Coltura
Investor Relations Manager
‎Skyharbour Resources Ltd.
‎Telephone: 604-558-5847
‎Toll Free: 800-567-8181
‎Facsimile: 604-687-3119
‎Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Forward-Looking Information

This news release contains ‘forward‐looking information or statements’ within the meaning of applicable securities laws, which may include, without limitation, completing ongoing and planned work on its projects including drilling and the expected timing of such work programs, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of uranium, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, failure to obtain or maintain community acceptance (including First Nations), decrease in the price of uranium and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.

This post appeared first on investingnews.com

(TheNewswire)

VANCOUVER, B.C. February 27, 2025 TheNewswire – LaFleur Minerals Inc. ( CSE: LFLR, OTCQB: LFLRF, Frankfurt : 3WK0 ) (‘ LaFleur Minerals ‘ or the ‘ Company ‘) is pleased to announce that it has mailed its management information circular (the ‘ Circular ‘) and related proxy materials to the Company’s shareholders (‘ Shareholders ‘) in connection with the Company’s annual general and special meeting (the ‘ Meeting ‘) to be held at 10:00 am (Pacific time) on March 7, 2025, at the offices of McMillan LLP, 1500 Royal Centre, 1055 West Georgia Street, Vancouver, British Columbia V6E 4N7. At the Meeting, Shareholders will be asked to c onsider, and if thought advisable, to pass, with or without variation, a special resolution of disinterested Shareholders authorizing and approving the Company’s acquisition of an exclusive option to acquire a 100% interest in and to certain mining claims and a mining lease located in the Province of Québec (the ‘ Monarch Property ‘), pursuant to the terms and conditions of an option agreement entered into between the Company and BullRun Capital Inc. (‘ BullRun ‘) dated September 17, 2024 (the ‘ BullRun Option Agreement ‘).

The Company would like to supplement the disclosure in the Circular with respect to the BullRun Option Agreement. The principal and sole shareholder of BullRun, Kal Malhi, is a director and former officer of the Company. BullRun originally acquired the Monarch Property in February 2024 for aggregate cash consideration of $350,000 through Companies’ Creditors Arrangement Act proceedings (‘ CCAA Proceedings ‘). At the time BullRun acquired the Monarch Property in February 2024, the board of directors of the Company (the ‘ Board ‘), with the exception of Mr. Malhi, was unaware that the Monarch Property was for sale as a result of the CCAA Proceedings nor were such Board members aware of BullRun’s participation in such proceedings or the price that BullRun planned to pay at the time of the initial purchase. Nonetheless, the Company would not have satisfied the CCAA qualification criteria which require that potential purchasers provide a cash deposit of 10% of the purchase price and evidence of the financial resources to complete the purchase in the event a potential purchaser’s bid is successful. The Company would not have satisfied the CCAA qualification criteria in part due to the fact that the Company had limited resource with total assets equal to $155,105 as at December 31, 2023. Further, in February 2024, the Company was engaged in lithium exploration opposed to gold, and therefore was not in the market for nor looking to acquire gold properties.

Subsequent to BullRun’s acquisition of the Monarch Property, Mr. Malhi identified the Monarch Property as a potential asset of interest for the Company. Mr. Malhi, on behalf of BullRun, and Mr. Teniere (Chief Executive Officer of the Company), on behalf of the Company, negotiated the terms of the BullRun Option Agreement. Mr. Teniere and Mr. Malhi determined the consideration to be paid pursuant to the BullRun Option Agreement in the context of the market and based on comparable acquisitions for similar mineral properties in Quebec. The parties also considered the increase in gold prices and increasing interest from third parties to acquire gold mineral properties in Canada. Though the purchase price paid by BullRun for its acquisition of the Monarch Property is significantly less than the consideration to be paid by the Company if it elects to exercise the option to acquire the Monarch Property, the Company believes that the February 2024 purchase price was well below the market value of such claims because they were stranded assets that were the subject of bankruptcy proceedings. Additionally, from February 2024 to the date the BullRun Option Agreement was executed the price of gold increased significantly. Further, the Company obtained a NI 43-101 Technical Report on the Swanson Property, which includes the Monarch Property, which included an updated Mineral Resource Estimate which the Company believes significantly increases the value of the Monarch Property.

As further described in the Circular, the Company also engaged Evans & Evans, Inc. to provide a valuation report titled ‘ Comprehensive Valuation Report on Certain Mining Claims – Monarch Claims and Malhi Claims ‘ (the ‘ Valuation Report ‘). Mr. Teniere received drafts of the Valuation Report which were shared with Mr. Malhi. On behalf of BullRun, Mr. Malhi received drafts of the Exhibits to the Valuation Report on September 3, 2024, and a draft of the Valuation Report itself on September 27, 2024. The Valuation Report refers to ‘Malhi Claims’ (separate from the claims comprising the Monarch Property held by BullRun) and states that the Malhi Claims will be included in the transfer of the claims currently held by BullRun as part of the proposed transaction. However, the transfer of the Malhi Claims has not yet been agreed upon or documented. The Company’s intention is to acquire the Malhi Claims shortly after obtaining shareholder approval for the BullRun Option Agreement and the transactions contemplated therein. The transfer of the Malhi Claims was not a part of the negotiation of the BullRun Option Agreement and the consideration to be paid to Mr. Malhi for the Malhi Claims has not yet been determined.

The Company did not hold any Board meetings with respect to the negotiation or approval of the BullRun Option Agreement. Once Mr. Teniere and Mr. Malhi had agreed on the terms of the BullRun Option Agreement, Mr. Teniere brought the potential transaction to the independent Board members for their consideration. Each independent Board member indicated to Mr. Teniere that they were in favour of the BullRun Option Agreement prior to its execution. The Board then passed a written resolution effective October 7, 2024, approving the BullRun Option Agreement and the transactions contemplated therein. Mr. Malhi declared his interest in the BullRun Option Agreement and abstained from voting on the resolution. The Company would also like to clarify that while the Circular refers to Michael Kelly as a ‘Partner’ at BullRun, and while Mr. Kelly has ‘partnered’ with BullRun and Kal Malhi on various projects in the past, he is independent and at arm’s length from BullRun and Mr. Malhi. Therefore Mr. Kelly voted on the Board resolution with respect to the BullRun Option Agreement and the votes attached to the shares held by Mr. Kelly are not required to be excluded from the majority of the minority vote required under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘ MI 61-101 ‘).

The Board did not retain independent legal advisors nor did it form a special committee in connection with the BullRun Option Agreement. Given the Company’s limited cash, as well as the size of the transaction, the Board determined it was in the best interests of the Company to proceed without independent counsel. Further, among the Board’s primary concerns was ensuring compliance with MI 61-101, and given that legal counsel to the Company was preparing the Circular in connection with the BullRun Option Agreement, the Board believed the disclosure required by MI 61-101 would be included in the Circular.  The Board determined not to formally establish a special committee of independent directors with respect to the BullRun Option Agreement because the sole interested director was Mr. Malhi. Mr. Malhi recused himself from Board discussions related to the BullRun Option Agreement, and therefore the Board did not believe forming a separate special committee was necessary in this instance.

The Board considered alternatives to the BullRun Option Agreement, including, but not limited to, maintaining the status quo or seeking other transactions that would enhance value to minority shareholders. More specifically, the Company reviewed the potential acquisition of other gold properties, but ultimately the Company’s management and independent Board determined that the BullRun Option Agreement was the best option available to the Company and that proceeding with the BullRun Option Agreement was in the best interests of the Company and its minority shareholders.

Though there have been significant increases in gold prices and demand for gold mineral properties, both the Company and BullRun continue to be satisfied with the terms of the BullRun Option Agreement. The consideration payable to BullRun Capital pursuant to the BullRun Option Agreement consists of cash, common shares in the capital of the Company (‘ Shares ‘), exploration expenditures, a gross metals royalty (‘ GMR ‘), and certain contingent Share issuances (the ‘ Contingent Shares ‘). When considering the value of the total consideration, the Board puts nominal value on the GMR and the Contingent Shares because the Board believes it is unlikely that it will be required to pay any funds in connection with the GMR or issue the Contingent Shares. The various Share issuances and cash payments for the exercise of the option require that the Company meet specific deadlines, some of which deadlines cannot be met pending the minority shareholder vote. The Company and BullRun have not entered into an amending agreement with respect to the BullRun Option Agreement. At the time of executing the BullRun Option Agreement the parties understood it would be subject to obtaining approval from the Company’s shareholders, and therefore the parties are under the mutual understanding that the Share issuance and cash payments contemplated in Section 4.1(a)(i) and 4.1(b)(i) of the BullRun Option Agreement will be completed as soon as practicable following the receipt of shareholder approval.

In an effort to facilitate the dissemination of information to, and the exercise of voting rights by, the Company’s shareholders , the Company has opted to waive the proxy deadline for the Meeting and will accept proxies up until the start date of the Meeting. For any additional questions pertaining to the BullRun Option Agreement, please reach out to the Company at info@lafleurminerals.com .

Stock Option Grant

The Company is also pleased to announce that it has granted a total of 1,500,000 stock options (‘ Options ‘) to purchase common shares of the Company to certain directors and consultants pursuant to the Company’s Stock Option Plan. Such Options are exercisable into common shares of the Company at an exercise price of $0.30 per common share for a period of two years from the date of grant. The Options vested on issuance.

About LaFleur Minerals Inc.

LaFleur Minerals Inc. (CSE: LFLR, OTCQB: LFLRF, FRANKFURT: 3WK0 ) is focused on the development of district-scale gold Deposits in the Abitibi Gold Belt near Val-d’Or, Québec. Our mission is to advance mining Deposits with a laser focus on our resource-stage Swanson Gold Deposit and the Beacon Gold Mill and Property, which have significant potential to deliver long-term value. The Swanson Gold Deposit is over 15,000 hectares (150 km 2 ) in size and includes several prospects rich in gold and critical metals previously held by Monarch Mining, Abcourt Mines, and Globex Mining. LaFleur has recently consolidated a large land package along a major structural break that hosts the Swanson, Bartec, and Jolin gold deposits and several other showings that make up the Swanson Gold Deposit. The Swanson Gold Deposit is easily accessible by road with a rail line running through the property allowing direct access to several nearby gold mills, further enhancing its development potential. Lafleur Minerals’ fully-refurbished and permitted Beacon Gold Mill is capable of processing over 750 tonnes per day and is being considered for processing mineralized material at Swanson and for custom milling operations for other nearby gold Deposits.

ON BEHALF OF LAFLEUR MINERALS INC.

Paul Ténière, P.Geo.
Chief Executive Officer
E: info@lafleurminerals.com

LaFleur Minerals Inc.

1500-1055 West Georgia Street

Vancouver, BC V6E 4N7

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding ‘Forward-Looking’ Information

This news release includes certain statements that may be deemed ‘forward-looking statements’. Forward-looking statements in this news release include, but are not limited to, statements about the Offering and the Company’s expectations with respect to the foregoing. Factors that could cause future results to differ materially from those anticipated in forward-looking statements in this news release include the tax treatment of the FT Shares. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words ‘expects’, ‘plans’, ‘anticipates’, ‘believes’, ‘intends’, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or that events or conditions ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, political and regulatory risks associated with mining and exploration, risks related to environmental regulation and liability. the potential for delays in exploration or development activities or the completion of feasibility studies, risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits, risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, results of prefeasibility and feasibility studies, the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Copyright (c) 2025 TheNewswire – All rights reserved.

This post appeared first on investingnews.com

This post appeared first on investingnews.com

This post appeared first on investingnews.com

Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce that it has executed a binding Term Sheet to acquire Altech Advanced Materials AG’s (FRA:AMA) 25% equity interest in Altech Energy Holdings GmbH (AEH) (75% holder of CERENERGY(R)) and 25% equity interest in Altech Industries Germany GmbH (AIG) (100% holder of Silumina AnodesTM) including all outstanding shareholder loans from AIG and AEH to AAM; together the ‘Acquisitions’.

Highlights

– Altech’s offer to acquire Altech Advanced Materials AG (AAM) project stakes accepted by AAM

– Altech to acquire additional 18.75% stake in CERENERGY(R) Project and additional 25% stake in Silumina AnodesTM Project including outstanding shareholder loans to AAM

– Altech will hold 75% of CERENERGY(R) & 100% of Silumina AnodesTM projects post acquisition

– Fraunhofer remains as 25% JV partner of the CERENERGY(R) project

– Altech will issue AAM approximately 532 million fully paid ordinary shares

– Acquisitions are valued at approximately A$23.3 million

– AAM market capitalisation on Frankfurt Stock Exchange is approximately A$38.7 million

– Based on DFS, and risk-adjusted AAM value, both projects valued at A$77 million

– AAM post-acquisition will be 21% shareholder of ATC

– New simplified corporate structure serves to optimise financing options

– Potential for ATC to divest acquired interests to strategic partners for project financing

– Subject to shareholder approval by both ATC and AAM

– General Meeting to be held inclusive of Independent Expert Report

In accordance with the project’s ownership, the AAM equity interests to be acquired by ATC represent an additional 18.75% stake in the CERENERGY(R) project and an additional 25% stake in the Silumina AnodesTM project (refer Figure 1* Corporate Structure before and after Acquisitions).

Fraunhofer remains as 25% JV partner of the CERENERGY(R) project.

As consideration for the Acquisitions, and subject to shareholder approval, Altech will issue to AAM approximately 532 million fully paid ordinary shares, resulting in AAM holding 21% of Altech’s issued share capital post Acquisitions. Based on the volume weighted average price (VWAP) of Altech shares being $0.044 over the 15 trading days prior to this announcement, the total consideration offered is valued at A$23.3 million. The shares proposed to be issued to AAM will be subject to a voluntary escrow period of 12 months from the date of issue. The Acquisition is still subject to several conditions precedent, including the approval of the Acquisitions by shareholders at the General Meetings of AAM and ATC.

Valuation of Transaction

AAM’s current market capitalisation on the Frankfurt Stock Exchange A$38.7 million (equal to EUR23.2 million), while the consideration offered for its sole assets amounts to A$23.3 million.

The Cerenergy Project DFS has a Net Present Value (NPV) of A$281 million, with AAM’s 18.75% stake equating to A$52 million at full financing. Applying a standard 0.23 NAV discount for financing risk, the adjusted valuation is A$12 million. The Silumina Project DFS has an NPV of A$1.14 billion, with AAM’s 25% stake translating to A$285 million. After applying the same 0.23 NAV discount, the adjusted valuation stands at A$65 million. In total, the risk-adjusted value of both projects is A$77 million, compared to the A$23.3 million consideration offered for their acquisition.

AAM initially acquired a 25% stake in both the CERENERGY and Silumina Projects from ATC for a total consideration of A$8 million. Following the acquisition, AAM made additional capital contributions in response to cash calls from both project entities, providing a total of A$10.8 million to support project development, operational expenses, and financing commitments. This brings AAM’s total investment in the projects to date to A$18.8 million compared to the A$23.3 million consideration offered for their acquisition.

Post Acquisitions

Post Acquisitions, Altech will own 100% of the Silumina AnodesTM Project and 75% of the CERENERGY(R) Battery Project, with Fraunhofer as 25% joint venture partner.

Strategic Rationale and Benefits

This transaction represents a pivotal moment for Altech’s strategic growth. By acquiring 100% ownership of Silumina AnodesTM and 75% ownership of CERENERGY(R), Altech is positioning itself to accelerate the development and commercialisation of these high-value projects. The Silumina AnodesTM project is a breakthrough in battery material technology, incorporating high-purity alumina in silicon anodes to improve battery performance. The CERENERGY(R) project, meanwhile, is at the forefront of next-generation sodium chloride battery development, offering a sustainable alternative to conventional lithium-ion technology.

Additionally, the transaction presents a practical solution to recent funding challenges by AAM. Uncertainty among German investors regarding AAM’s ownership structure has complicated AAM’s fundraising efforts and hindered sustained support in Germany.

Altech will have the autonomy to make key investment and operational decisions without requiring external approvals, thereby enhancing project execution efficiency. Furthermore, the Acquisitions will provide Altech with a stronger negotiation position when engaging with potential strategic partners, customers, and financiers. Through these transactions, AAM will retain long-term upside potential through its new equity stake in Altech. This structure aligns the interests of both companies and ensures that AAM continues to benefit from future successes. AAM will remain as an investment company on the Frankfurt Stock Exchange rather than holding direct interest of both projects.

Consolidating ownership reduces the complexity of project governance and enhances Altech’s ability to execute strategic initiatives with greater agility and less complexity. Additionally, the issuance of shares to AAM in lieu of cash payments preserve Altech’s balance sheet strength, allowing it to deploy capital more effectively towards project development and commercialisation.

The Board of Altech believes the transaction will deliver significant strategic benefits, including:

– Consolidation of ownership in the Silumina AnodesTM and CERENERGY(R) projects, enabling streamlined decision-making and project execution

– Improved operational flexibility and efficiency to fast-track commercialisation efforts

– Addressing recent funding challenges faced by AAM and improving capital structure alignment

Conditions Precedent

The completion of the Acquisitions is subject to:

– All necessary regulatory approvals, including:

o ASX Listing Rule 7.1 shareholder approval for the issuance of consideration shares.

o Shareholder approval under item 7, section 611 of the Corporations Act 2001 (Cth), to the extent that AAM, or any of its shareholders, will increase its voting power above 20% in Altech.

– Approval from the Australian Treasurer under the Foreign Acquisitions and Takeovers Act 1975 (Cth), if required.

– Approval by AAM’s shareholders meeting

– Execution of an escrow deed between Altech and AAM regarding the voluntary escrow conditions.

Board Recommendation

Mr Hansjoerg Plaggemars and Mr Uwe Ahren, being current Managing Directors of AAM, did not take part in any voting on the Acquisitions in their position as Board members of Altech and do not make a recommendation on the proposal. Mr Iggy Tan, being a previous Managing Director of AAM (resigned 31 December 2024) did not take part in any voting on the Acquisitions and does not make a recommendation on the proposal.

The Independent Directors of Altech, consisting of Mr Luke Atkins, Mr Dan Tenardi and Mr Peter Bailey, unanimously recommend that shareholders vote in favour of the Acquisitions, subject to the Independent Expert’s Report concluding that the transaction is fair and/or reasonable to Altech shareholders. Altech’s Board strongly believes that this transaction will enhance shareholder value over the long term by consolidating ownership, streamlining decision-making and ensuring that both projects progress efficiently towards commercialisation. The transaction structure ensures that AAM remains aligned with Altech’s success while addressing funding constraints in a manner that benefits all stakeholders.

Next Steps

Altech will continue working closely with AAM to finalise definitive agreements and complete all required regulatory and shareholder approvals. Shareholders will be kept informed of any significant developments, and further announcements will be made as key milestones are achieved. The Company remains committed to executing this strategic initiative in a manner that enhances shareholder value and accelerates its growth objectives. The Board looks forward to engaging with shareholders throughout the approval process and appreciates the ongoing support from its investors.

To view the Indicative Timetable, please visit:
https://abnnewswire.net/lnk/DK6T5Z7Q

About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS (‘Fraunhofer’) to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech’s land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

Source:
Altech Batteries Ltd

Contact:
Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

This post appeared first on investingnews.com

This post appeared first on investingnews.com

This post appeared first on investingnews.com

This post appeared first on investingnews.com