CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FRA: DH7N) signed an exploration agreement with Ya’thi Néné Lands and Resources (YNLR), the office representing a number of First Nations living in the Athabasca Basin.
YNLR said on Monday that it is eager to collaborate with exploration and mining companies in its territory. This agreement is rooted in YNLR’s core principles of environmental stewardship, the creation of employment and training opportunities, enhancement of social well-being and the preservation of cultural awareness.
CanAlaska possesses an extensive land portfolio of approximately 350,000 hectares (865,000 acres) and uranium exploration interests in Saskatchewan’s Athabasca Basin and the traditional lands of YNLR First Nations in Treaty 8 and Treaty 10 Territories. The company has made strong commitments to fostering a sustainable future for both its company and the neighbouring communities it operates near.
“Signing this agreement with CanAlaska means that our land and traditions can be protected and that our communities’ aspirations in terms of economic development can become reality,” said Mary Denechezhe, Elder and YNLR Board Chair.
“It also means that our Treaty Rights are respected. We welcome CanAlaska’s desire to engage with us in a respectful and mutually beneficial manner.”
Additionally, the agreement encompasses provisions pertaining to compensation for harvesters, contributions to YNLR’s established community trust, and opportunities for contracting with northern businesses.
YNLR is a non-profit organization collectively owned by the Athabasca Basin First Nations, including Hatchet Lake Denesułiné First Nation, Black Lake Denesułiné First Nation, Fond du Lac Denesułiné First Nation, and several northern Saskatchewan municipalities, namely the Northern Hamlet of Stony Rapids, the Northern Settlement of Uranium City, the Northern Settlement of Wollaston Lake, and the Northern Settlement of Camsell Portage.
Established in June 2016, YNLR carries a mandate to actively promote and enhance the overall well-being of present and future residents of the Athabasca region. This mandate encompasses environmental, social, economic, and cultural aspects, reflecting their commitment to holistic community betterment.
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Read more: ATHA Energy performs largest multi-platform EM survey in the history of the Athabasca Basin
Athabasca Basin hosts some of the world’s richest uranium deposits
The Athabasca Basin, located in northern Saskatchewan, Canada, is renowned for hosting some of the world’s richest uranium deposits, making it a prominent hub for uranium mining and exploration activities. Its exceptional geological characteristics and high-grade uranium ores have earned it the reputation of being a premier uranium mining district.
ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) possesses the most extensive uranium exploration portfolio within the world’s highest-grade uranium district. It recently announced results from its large-scale electromagnetic surveys at its East Vista project.
The completed survey is an integral component of the company’s inaugural 2023 exploration initiative, encompassing a total of seventeen EM surveys carried out across ATHA’s extensive 3.4-million-acre exploration holdings within the Athabasca Basin.
Meanwhile, Denison Mines Corp. (TSX: DML) (NYSE: DNN) reported the successful completion of its previously disclosed bought deal public offering of common shares on Monday. This offering has led to the issuance of 37 million shares at a price of USD$1.49 per share, resulting in total gross proceeds of US$55.13 million.
The net proceeds from the offering will be allocated by Denison for several key purposes. These include advancing the development of the proposed Phoenix in-situ recovery uranium mining operation by acquiring long lead items, encompassing associated engineering, testing, and design, as identified during the ongoing Front End Engineering Design process and the Phoenix Feasibility Study. Additionally, the funds will be utilized for exploration and evaluation expenditures, covering general corporate and administrative expenses, which also encompass support for corporate development activities, and addressing working capital requirements.
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