Fusion Fuel provides update on Royal Uranium royalty

Fusion Fuel Green (HTOO) announced that a key regulatory milestone has been achieved at the Laguna Salada Uranium Project in Chubut Province, Argentina, an asset on which Royal Uranium holds a 2.0% net smelter returns royalty. As recently disclosed by Jaguar Uranium (JAGU), the operator of the Laguna Salada Project, the Provincial Ministry of Environment of Chubut Province, Argentina, has granted an Environmental Impact Assessment permit for exploration activities at the “Guanaco” concession portion of Laguna Salada. The permit, received ahead of schedule, authorizes geophysical surveys, surface sampling, trenching, drilling, access road construction, and related exploration infrastructure. Jaguar Uranium believes Laguna Salada represents a near surface, bulk exploration and development target and will now accelerate its fully funded “Phase 1” exploration campaign to test this thesis, following its recent $25M IPO earlier this year. Royal Uranium holds a 2.0% NSR royalty covering the Guanaco concession portion of the Laguna Salada Project. An NSR royalty entitles the holder to receive a percentage of gross revenue from mineral production, net of certain permitted deductions, without bearing capital or operating costs. On February 18, Fusion Fuel announced that it had entered into a definitive share exchange agreement to acquire a controlling interest in Royal Uranium, a private royalty company holding a diversified portfolio of royalties across the Americas.