Through this LOI, F3 will receive cash and operator fees (up to $700,000), 7% ownership in our partner pre-financing and up to $5.4M in work expenditures to advance exploration on the Clearwater West Property." F3 will be the operator during the earn-in period, having assembled the team responsible for three major uranium discoveries in the Athabasca Basin, the J Zone at Waterbury Lake (which was sold to Denison Mines), Fission Uranium's Triple R deposit and most recently F3's JR Zone at PLN. F3 has 16 uranium projects in the Athabasca Basin and working with groups like SKRR will allow F3 to advance exploration and unlock potential value for our company and shareholders. "We are excited to work with Sherman Dahl and his hard-working team. The Clearwater West project is near large uranium discoveries, including the Arrow and Triple R deposits." At SKRR we believe that that PLS/PLN area has the potential to generate further large discoveries, as demonstrated by the recent JR zone discovery at PLN. "We are very excited to not only work with F3 and their outstanding team, but also to have an opportunity to acquire a majority stake in an attractive property in the Athabasca Basin region, home to some of the world's largest uranium mining operations. F3 cautions that past results or discoveries on proximal lands are not necessarily indicative of the results that may be achieved on the Clearwater West Project. The Clearwater West property is comprised of 3 contiguous mineral claims totaling 11,786 hectares which are immediately south and adjacent to Fission Uranium's PLS property. It is 13km south of Fission Uranium's Triple R deposit, located 7 km outside the basin edge on its PLS Property, where a Feasibility Study was recently completed, and 17 km south of NexGen's Arrow uranium deposit. The Clearwater West Project is located ~20km outside the edge and in the south-west area of the Athabasca Basin, which is poised to become the next area for the development of major uranium mines in Saskatchewan. (" SKRR"), whereby SKRR and F3 will negotiate and settle the terms of a definitive option agreement (the " Option Agreement") that will provide SKRR with an option to acquire up to a 70% interest in F3's right, title and interest in and to the mineral claims compromising the mineral exploration project known as the "Clearwater West Project", located in Saskatchewan (the " Transaction"). April 10, 2023) - F3 Uranium Corp ( TSV: FUU) ( OTCQB: FUUFF) (" F3" or " the Company") is pleased to announce it has entered into a letter of intent (" LOI") with SKRR Exploration Inc. ![]() ![]() Kelowna, British Columbia-(Newsfile Corp.
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