Bayridge Resources Completes Cash and Share Obligations Towards Initial 40% Earn-In at Its Athabasca Basin Uranium Properties
Bayridge Resources Completes Cash and Share Obligations Towards Initial 40% Earn-In at Its Athabasca Basin Uranium Properties
Vancouver, British Columbia--(Newsfile Corp. - May 10, 2024) - Bayridge Resources Corp. (CSE: BYRG) ("Bayridge" or the "Company") is pleased to announce that, pursuant to its definitive option agreements (the "Option Agreements") with CanAlaska Uranium Ltd. ("CanAlaska"), through which the Company may earn up to an 80% interest in each of CanAlaska's Waterbury East and Constellation Projects (the "Projects") in the Athabasca Basin, the Company has paid CanAlaska an aggregate of $490,000 in cash (the "Cash Payments") and issued to CanAlaska an aggregate of $685,000 worth of common shares (the "Share Issuances").
不列顛哥倫比亞省溫哥華--（Newsfile Corp.-2024 年 5 月 10 日）- Bayridge 資源公司（CSE：BYRG） (”拜裏奇“或者”公司“）很高興地宣佈，根據其最終期權協議（”期權協議“) 與 Canalaska 鈾業有限公司 (”加拿大阿拉斯加“），通過該項目，公司可以獲得Canalaska的東沃特伯裏和星座項目（”項目“）在阿薩巴斯卡盆地，該公司已向Canalaska支付了總額爲49萬美元的現金（現金支付“）並向Canalaska發行了總價值68.5萬美元的普通股（”股票發行“)。
With this tranche of Cash Payments and Share Issuances complete, the Company now must incur exploration expenditures of $1,500,000 within the next 18 months from the time of commencement (being March 25, 2024) at each of the Projects in order to earn its initial 40% interest in each of the Projects.
隨着這部分現金支付和股票發行的完成，公司現在必須在每個項目開工之日（即2024年3月25日）後的未來18個月內承擔150萬美元的勘探支出，才能賺取每個項目的初始40％權益。
About Bayridge Resources Corp.
關於Bayridge資源公司
Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian uranium and lithium projects. The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000's drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested. The 11,142 ha Constellation project is located 60 km south of the present-day Athabasca Basin edge in an area of significant exploration activity for basement hosted uranium. Historic airborne radiometric, electromagnetic, and magnetic surveys identified electromagnetic conductors associated with magnetic lows. The 4,413 ha Sharp Lake project, located in the Red Lake Mining District of Northern Ontario, hosts peraluminous S-type muscovite bearing pegmatite bearing granites in contact with metasediments. Preliminary sampling has highlighted anomalous rare-element values, potentially indicative of lithium mineralization.
Bayridge Resources Corp. 是一家綠色能源公司，正在推進其加拿大鈾和鋰項目組合。佔地1,337公頃的沃特伯裏東部項目位於阿薩巴斯卡盆地東北部雪茄湖礦東北25公里處。地球物理調查發現了一條7公里長的電導走廊，2000年中期的鑽探突出顯示了通過局部鈾濃縮進行斷層和變化的基底岩石。這條走廊的大部分路段仍未經過測試。佔地11,142公頃的Constellation項目位於現在的阿薩巴斯卡盆地邊緣以南60公里處，該地區正在進行大量的基底儲存鈾勘探活動。歷史性的航空輻射、電磁和磁場調查發現了與低磁相關的電磁導體。佔地4,413公頃的夏普湖項目位於安大略省北部的紅湖礦區，擁有與變沉積物接觸的含有偉晶岩的含花崗岩的過鋁S型白雲母。初步抽樣顯示了異常的稀有元素值，這可能表明鋰礦化。
For more information, please contact:
欲了解更多信息，請聯繫：
Saf Dhillon, President & Chief Executive Officer
E-mail: saf@bayridgeresources.com
Tel: 604-484-3031
Saf Dhillon，總裁兼首席執行官
電子郵件：saf@bayridgeresources.com
電話：604-484-3031
Forward-looking information
前瞻性信息
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the exploration expenditures required to earn in the first 40% interest under the Option Agreements. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
本新聞稿中的某些陳述是前瞻性陳述，反映了管理層對期權協議下前40％利息所需的勘探支出的預期。前瞻性陳述由不純粹的歷史陳述組成，包括任何有關未來的信念、計劃、期望或意圖的陳述。此類陳述存在風險和不確定性，可能導致實際結果、業績或發展與聲明中包含的結果存在重大差異。無法保證前瞻性陳述所預期的任何事件都會發生，也無法保證如果發生的話，公司將從中獲得什麼好處。除非適用於公司的證券披露法律法規要求，否則如果管理層的信念、估計或觀點或其他因素髮生變化，公司沒有義務更新這些前瞻性陳述。
The CSE has not reviewed, approved, or disapproved the contents of this press release.
CSE尚未審查、批准或不批准本新聞稿的內容。
譯文內容由第三人軟體翻譯。