on Pegasus Resources Inc. (isin : CA70558T2048)

Pegasus Resources Expands Land Package with Acquisition of Jupiter Uranium Project

Pegasus Resources Inc. has finalized an agreement with KD Prospect to acquire a 100% interest in the Jupiter Uranium Project. The project is located in Emery County, Utah, and includes 48 unpatented claims. This move aims to bolster Pegasus's portfolio with a strategic uranium site.

Chris Timmins, CEO of Pegasus, highlighted the strategic advantage of pairing the Jupiter Project with the Energy Sands Project. The combined sites promise rich opportunities, supported by historical drilling data and recent findings. These projects offer investors a chance to engage in resource development and potential discovery.

The Jupiter Project has a history of significant exploration. Atlas Minerals, former holders, conducted over 100 drilling operations, demonstrating the area's potential. Pegasus will leverage this historical data to formulate a resource estimate in compliance with current standards.

Terms of the agreement include Pegasus issuing 2.2 million shares and making cash payments totaling $100,000 to the Vendor. Additionally, Pegasus commits to a 1500-meter drilling program within a year. Upon fulfilling these conditions, Pegasus secures a full interest in the Jupiter Project, subject to resource bonuses and royalties.

R. E.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved. Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Pegasus Resources Inc. news