Uranium Royalty to acquire new royalty on Aberdeen Uranium Project

Uranium Royalty (UROY) announced that it has entered into an agreement to acquire a new royalty on the Aberdeen Uranium Project in Nunavut, Canada operated by Forum Energy Metals Corp. URC will acquire the royalty for a cash payment of C$1M at closing, which is scheduled to occur by the end of May. The transaction will be funded from cash on hand. Forum retains the right to repurchase 0.5% for C$1M within six months of a successful pre-feasibility study; this right expires seven years after issuance. Aberdeen is directly adjacent to the west of the Orano-operated Kiggavik Project, which hosts over 132M pounds of UO in Indicated and Inferred Resources, making it one of the largest undeveloped uranium projects globally. The project is an exploration stage project located on the northeast edge of the Thelon Basin in Nunavut Territory, approximately 100 km west of the Hamlet of Baker Lake. The project is wholly owned and operated by Forum. The project covers approximately 95,519 hectares and is located directly adjacent to the west of the Orano operated Kiggavik advanced uranium project. The Royalty consists of a 2.0% gross revenue royalty on the project. Forum may buy-back one quarter of the Royalty upon payment to URC of $1M for a period of six months following the announcement of a successful pre-feasibility study. This option expires seven years after the Royalty is issued.