VANCOUVER, British Columbia, Oct. 19, 2021 (GLOBE NEWSWIRE) — Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces a non-brokered private placement (the “Placement”) of up to 4,000,000 units (the Units”) at a price of $0.125 per Unit for total gross proceeds of up to $500,000 to fund drill programs on the Company’s silver-gold projects in Durango and Zacatecas States, Mexico. A finder’s fee may be paid with respect to all or part of this Placement. The terms of the Placement are subject to acceptance by the TSX Venture Exchange.

Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each whole warrant (a “Warrant”) will be exercisable to purchase one additional common share of the Company at a price of $0.20 during the first year, increasing to $0.25 in year two following the closing of the offering.

The proceeds of the Placement will be used to fund continued drill programs on the Company’s silver-gold exploration projects in Durango and Zacatecas States, Mexico, and for working capital.

About Canasil:

Canasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columbia, Canada. The Company’s directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discovery and further development. The Company is actively engaged in the exploration of its mineral properties, and maintains an operating subsidiary in Durango, Mexico, with full time geological and support staff for its operations in Mexico.

For further information please contact:

Bahman Yamini
President and C.E.O.
Canasil Resources Inc.
Tel: (604) 709-0109
www.canasil.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Energy Fuels (UUUU) closed the most recent trading day at $8.27, moving -0.12% from the previous trading session. This move lagged the S&P 500's daily gain of 0.74%.

Prior to today's trading, shares of the uranium and vanadium miner and developer had gained 22.3% over the past month. This has outpaced the Basic Materials sector's gain of 4.68% and the S&P 500's gain of 1.34% in that time.

UUUU will be looking to display strength as it nears its next earnings release. On that day, UUUU is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 62.5%. Meanwhile, our latest consensus estimate is calling for revenue of $10.53 million, up 2049.39% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $18.38 million, which would represent changes of +8.7% and +1008.63%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for UUUU. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. UUUU is holding a Zacks Rank of #3 (Hold) right now.

The Mining – Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 25% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Energy Fuels Inc (UUUU) : Free Stock Analysis Report
 
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Zacks Investment Research

TORONTO, Oct. 19, 2021 (GLOBE NEWSWIRE) — The Board of Directors of Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce the appointment of Mr. Willem Kotzé as the Project Manager for the Company’s Norasa Project located in Namibia, Africa.

Mr. Kotzé is a Professional Geoscientist with over 48 years of industry experience, mainly in Southern Africa. Mr. Kotzé initially worked for mainstream mining houses (GENCOR, Gold Fields, SOEKOR) but lately as a Geosciences Consultant. He has extensive exploration as well as mining experience in various commodities including uranium, base metals, gold and industrial minerals and cement materials. His experience will be invaluable as the Company proceeds with the development of the Norasa Project in Namibia.

Mr. Kotzé graduated with a B.Sc Honours in Geology from the University of Stellenbosch in 1973, a B.Sc. Honours in Computer Science and Information Systems from the University of South Africa (UNISA) in 1985, a Graduate Diploma in Engineering (GDE) from the University of Witwatersrand in 2002 and a M.Eng (Mineral Resources) from the University of Witwatersrand in 2004. Mr. Kotzé is registered with the South African Council for Natural Scientific Professions (SACNASP), the Geosciences Council of Namibia and is a member of the Geological Society of Namibia, the Geostatistical Association of South Africa and Geological Society of Africa.

“The appointment of Willem reinforces our commitment to the development of the Norasa Project and strengthens our Namibian team with a highly respected and very experienced geologist and project manager. We welcome him to our team,” said Mark Frewin, CEO.

About Forsys Metals Corp.
Forsys Metals Corp. is a uranium focused development company with 100% ownership of the Norasa project that comprises the Valencia and Namibplaas uranium projects in Namibia, Africa, a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43‐101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company website forsysmetals.com.

On behalf of the Board of Directors of Forsys Metals Corp. Richard Parkhouse, Director, Investor Relations.

For additional information please contact:
R ichard Parkhouse, Director, Investor Relations
email: rparkhouse@forsysmetals.com email: info@forsysmetals.com
Phone: +44 (0) 7730 493432

Enthusiasm from individual traders is reshaping the market for nuclear fuel that generates a tenth of the world’s electricity and sending uranium-linked stocks higher.

Vancouver, British Columbia–(Newsfile Corp. – October 19, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announced today that the Company has both staked and purchased additional claims at its 100% owned Lazy Edward Bay Uranium Project ("Lazy Edward Bay"), and has negotiated a three-year extension of time with an underlying vendor for two claims within its 100%-owned Newnham Lake Uranium Project ("Newnham Lake"). Each of the projects are located in the Athabasca Basin, Saskatchewan.

Lazy Edward Bay Acquisitions

ALX has executed a purchase agreement (the "Purchase") with Eagle Plains Resources Ltd. ("Eagle Plains") for a 100% interest in nine (9) claims totaling 2,409.75 hectares (5,954.5 acres) as a complement to the Company's existing land package at Lazy Edward Bay. The combination of the Purchase with six (6) additional claims staked by ALX in mid-September 2021 will bring the total area of Lazy Edward Bay to 10,984.33 hectares (27,142.28 acres). As consideration for the Purchase, Eagle Plains has agreed to receive 600,000 common shares of ALX and will retain a 2.0% net smelter returns royalty ("NSR"), of which ALX has the right to purchase 1.0% (one-half) of the NSR for $1.0 million.

Newnham Lake Option Agreement Extension

ALX has negotiated a three-year extension of time (the "Extension") with an underlying arms-length vendor for two claims totaling 1,518.6 hectares (the "Claims") within Newnham Lake. Under the terms of an option agreement dated August 21, 2014, and a previous extension agreement dated August 19, 2019, ALX was obligated to spend $1.5 million in exploration expenditures on the Claims by August 28, 2022. All other monetary terms of the option agreement (cash and shares payable to the vendor) have been satisfied by ALX. In consideration for a three-year extension to August 28, 2025 for ALX to complete the exploration expenditures, ALX has agreed to issue 300,000 common shares of the Company to the vendor.

Closing of the Purchase and the Extension are each subject to the acceptance of the TSX Venture Exchange.

For maps and photos of Lazy Edward Bay and Newnham Lake, please visit our website at: www.alxresources.com

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL," on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF."

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 250,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX Corporation and Orano Canada Inc.), and 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects.

ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: the Company's exploration projects are prospective for uranium and other minerals. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration at its exploration projects, including drilling; initial findings at its projects may prove to be unworthy of further expenditure; commodity prices may not support exploration expenditures at its projects; and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our mineral exploration projects, and even if uranium or other metals or minerals are discovered in quantity, the projects may not prove to be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Six Months Ended June 30, 2021, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100216

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' It's only natural to consider a company's balance sheet when you examine how risky it is, since debt is often involved when a business collapses. We note that Gem Diamonds Limited (LON:GEMD) does have debt on its balance sheet. But the real question is whether this debt is making the company risky.

When Is Debt A Problem?

Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. Part and parcel of capitalism is the process of 'creative destruction' where failed businesses are mercilessly liquidated by their bankers. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.

View our latest analysis for Gem Diamonds

How Much Debt Does Gem Diamonds Carry?

The image below, which you can click on for greater detail, shows that Gem Diamonds had debt of US$14.7m at the end of June 2021, a reduction from US$23.6m over a year. But it also has US$33.9m in cash to offset that, meaning it has US$19.2m net cash.

A Look At Gem Diamonds' Liabilities

We can see from the most recent balance sheet that Gem Diamonds had liabilities of US$43.1m falling due within a year, and liabilities of US$112.0m due beyond that. Offsetting these obligations, it had cash of US$33.9m as well as receivables valued at US$6.55m due within 12 months. So its liabilities total US$114.6m more than the combination of its cash and short-term receivables.

This is a mountain of leverage relative to its market capitalization of US$116.4m. Should its lenders demand that it shore up the balance sheet, shareholders would likely face severe dilution. Despite its noteworthy liabilities, Gem Diamonds boasts net cash, so it's fair to say it does not have a heavy debt load!

Even more impressive was the fact that Gem Diamonds grew its EBIT by 406% over twelve months. If maintained that growth will make the debt even more manageable in the years ahead. There's no doubt that we learn most about debt from the balance sheet. But it is future earnings, more than anything, that will determine Gem Diamonds's ability to maintain a healthy balance sheet going forward. So if you're focused on the future you can check out this free report showing analyst profit forecasts.

Finally, while the tax-man may adore accounting profits, lenders only accept cold hard cash. Gem Diamonds may have net cash on the balance sheet, but it is still interesting to look at how well the business converts its earnings before interest and tax (EBIT) to free cash flow, because that will influence both its need for, and its capacity to manage debt. In the last three years, Gem Diamonds created free cash flow amounting to 4.2% of its EBIT, an uninspiring performance. That limp level of cash conversion undermines its ability to manage and pay down debt.

Summing up

Although Gem Diamonds's balance sheet isn't particularly strong, due to the total liabilities, it is clearly positive to see that it has net cash of US$19.2m. And it impressed us with its EBIT growth of 406% over the last year. So we don't have any problem with Gem Diamonds's use of debt. There's no doubt that we learn most about debt from the balance sheet. However, not all investment risk resides within the balance sheet – far from it. Be aware that Gem Diamonds is showing 2 warning signs in our investment analysis , and 1 of those shouldn't be ignored…

When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

Company Executives share vision and answer questions live at VirtualInvestorConferences.com

NEW YORK, Oct. 18, 2021 /CNW/ – Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Uranium, Strategic and Precious Metals Investor Conference on October 19^th, 20^th, 21^st. Individual investors, institutional investors, advisors, and analysts are invited to listen to the executive management of metals and mining companies discuss their property positions, development schedules, market opportunity, and investment highlights.

REGISTER NOW AT: https://bit.ly/3mTfIO2

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations or ask questions.

"OTC Markets is excited to host the three-day Uranium, Strategic and Precious Metals Investor Conference," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "We appreciate the collaboration with our co-sponsor, Viriathus, and look forward to hearing from today's industry leaders."

October 19^th Agenda – Uranium:

October 20th Agenda – Strategic and Precious Metals:

October 21^st Agenda – Strategic and Precious Metals:

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit
www.virtualinvestorconferences.com.

About Virtual Investor Conferences^®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

SOURCE VirtualInvestorConferences.com

View original content: http://www.newswire.ca/en/releases/archive/October2021/18/c1311.html

VANCOUVER, British Columbia, Oct. 18, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (“Skyharbour” or the “Company”) is pleased to announce that it has entered into an option agreement (the “Option Agreement”) with Black Shield Metals Corp. (CSE: BDX) (“Black Shield”) which provides Black Shield an earn-in option to acquire up to a 75% interest (the “Option”) in the Mann Lake Uranium Project (“Mann Lake” or the “Property”) located in the Athabasca Basin, Northern Saskatchewan, Canada.

Mann Lake Project Location Map:
https://skyharbourltd.com/_resources/SYH_Mann_Lake_Tenure.jpg

Under the Option Agreement, Black Shield will contribute cash and exploration expenditure consideration totaling CAD $4,850,000 over a three-year period (“Project Consideration”). Of the Project Consideration, $850,000 will be in cash payments to Skyharbour and $4,000,000 will be in exploration expenditures on the project. Black Shield will also issue to Skyharbour the equivalent value of CAD $1,750,000 in shares of the company over the three-year earn-in period to complete the earn-in.

Skyharbour’s President and CEO, Jordan Trimble commented: “We are excited to have this Option Agreement signed as we continue to execute on our business model by adding value to our project base in the Athabasca Basin through strategic partnerships and prospect generation, as well as focused mineral exploration at our flagship Moore Uranium Project. We are looking forward to working with Black Shield and its management team as they advance the Mann Lake Project over the coming years. News will be forthcoming on exploration plans as we continue to see an upward momentum in the uranium market.”

Mann Lake Uranium Project Summary:

Skyharbour owns a 100% interest in the 3,473 hectare (8,582 acre) Mann Lake Uranium Project located in the eastern Athabasca Basin in northern Saskatchewan. It is strategically located 25 km southwest of the McArthur River Mine, the largest high-grade uranium deposit in the world, and 15 km to the northeast of Cameco's Millennium uranium deposit. The Mann Lake project is also adjacent to the Mann Lake Joint Venture operated by Cameco (52.5%) with partners Denison Mines (30%) and Orano (17.5%).Denison Mines acquired International Enexco and its 30% interest in the project after a 2014 winter drill program discovered high-grade, basement-hosted uranium mineralization at this adjacent project.

Skyharbour carried out a ground-based EM survey in 2014 focused on an area where a 2 km long aeromagnetic low coincided with basement conductors interpreted from earlier EM surveys. This program successfully confirmed the presence of a broad, NE-SW trending corridor of conductive basement rocks which are likely graphitic metapelites.

Mann Lake Project Geological Compilation Map:
https://skyharbourltd.com/_resources/SYH_Mann_Lake_Compilation.jpg

The Mann Lake Uranium Project has seen over $3 million of previous exploration expenditures consisting of geophysical surveys and two diamond drill programs totaling 5,400 metres carried out by Triex in 2006 and 2008. The geophysical surveys identified graphitic basement conductors and structural corridors containing reactivated basement faults. These features trend onto the adjacent ground operated by Cameco. The 2006 diamond drill program intersected a 4.5 metre wide zone containing anomalous boron (with highlight values of up to 1,758 ppm B) in the sandstone immediately above the unconformity in drillhole MN06-005. Boron enrichment is common at the McArthur River uranium mine, and along with illite and chlorite alteration, is a key pathfinder element for uranium deposits in the Athabasca Basin. In the same drill hole, altered basement gneissic rocks with abundant clay, chlorite, hematite and calc-silicate minerals were intersected about 7.6 metres below the unconformity and contained anomalous uranium, including up to 73.6 ppm over a 1.5 metre interval. Background uranium values are commonly between 1 and 5 ppm.

Terms of the Option Agreement:

Under the terms of the Option Agreement, the Black Shield Metals Corp. is committed to the following:

1. paying to Skyharbour a total of CAD $850,000 cash and issuing Skyharbour the total number of common shares (“Shares”) of Black Shield equivalent to a value of CAD $1,750,000 based on the 20 day VWAP at the time of issuance, as follows:

   1. within five days of the signing of the Option Agreement, pay $100,000 and issue Shares equivalent to $250,000 at the 20 day VWAP at the time of issuance;

   2. on the first anniversary of the signing of the Option Agreement, pay $250,000 and issue Shares equivalent to $500,000 at the 20 day VWAP at the time of issuance;

   3. on the second anniversary of the signing of the Option Agreement, pay $250,000 and issue Shares equivalent to $500,000 at the 20 day VWAP at the time of issuance;

   4. on the third anniversary of the signing of the Option Agreement, pay $250,000 and issue Shares equivalent to $500,000 at the 20 day VWAP at the time of issuance;

2. incur a minimum of $4,000,000 in exploration expenditures on the Property as follows:

   1. $1,000,000 in exploration expenditures on or before the first anniversary of the signing of the Option Agreement;

   2. an additional $1,000,000 in exploration expenditures on or before the second anniversary of the signing of the Option Agreement; and

   3. an additional $2,000,000 in exploration expenditures on or before the third anniversary of the signing of the Option Agreement.

In the event that Black Shield spends, in any of the above periods, less than the specified sum, it may pay to the Optionor the difference between the amount it actually spent and the specified sum before the expiry of that period in full satisfaction of the exploration expenditures to be incurred. In the event that Black Shield spends, in any period, more than the specified sum, the excess shall be carried forward and applied to the exploration expenditures to be incurred in succeeding periods.

Immediately on Black Shield satisfying all of the conditions, Black Shield will be deemed to have exercised the Option and to have earned a 75% interest in and to the Property which will vest to Black Shield subject to the net smelter returns royalty (“NSR Royalty”). A NSR Royalty of two and a half percent (2.5%) is payable to a third party of net smelter returns from minerals mined and removed from the Property (payable pro-rata based on ownership interest in the Property).

The issuance of the Black Shield shares is subject to approval by the board of directors of Black Shield and the Canadian Securities Exchange. All securities issued pursuant to this offering will be subject to a four-month plus one-day hold period from the issuance date. Black Shield may pay finder's fees and/or commissions to eligible persons in connection with the Option in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person.

About Black Shield Metals Corp.

Black Shield Metals Corp. is a Canadian junior exploration company focused on diversified mineral resources. Black Shield is proposing to change its name to Basin Uranium Corp. and its trading symbol, and will provide additional updates when approval has been received.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 250,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U₃O₈ over 5.9 metres including 20.8% U₃O₈ over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The Company also owns a 100% interest in the South Falcon Point Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hook Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”
_________________________________
Jordan Trimble
President and CEO

For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Peninsula Energy invites individual and institutional investors, as well as advisors and analysts, to attend real-time, interactive presentations on VirtualInvestorConferences.com

PERTH, Australia, Oct. 18, 2021 /PRNewswire/ — Peninsula Energy Ltd. (ASX:PEN; OTCQB:PENMF), based in Perth, Western Australia announced that Wayne Heili, Managing Director and CEO will present live at VirtualInvestorConferences.com on October 19^th, 2021.

Peninsula owns 100% of its Flagship Lance Uranium ISR Project located in Wyoming USA. The Company has experienced a very successful 12 months highlighted by excellent progression of its critical MU1A Low pH ISR Field Demonstration at Lance.

DATE: Tuesday October 19, 2021
TIME: 13:30 US Eastern Time
LINK: https://bit.ly/3iUhKfJ

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com.

Recent Company Highlights

• Flagship Lance Project one of the largest US-based uranium projects

• A well-defined pathway to restart commercial operations

• Successfully advancing transition to low pH ISR process through MU1A Field Demonstration

• Demonstration has been operating successfully for over 12 months and delivering meaningful and valuable results

• Demonstration expected to be completed in 1H2022, with a Final Investment Decision to follow

• CY2022 uranium sales of 450,000 pounds for net cash margin of US$8 million to US$9 million

• Strong balance sheet with cash and uranium inventory holdings

Peninsula Energy

Uranium extraction for a green energy future.

Peninsula Energy Limited is an ASX listed listed company also trading on the OTCQB. Peninsula owns the Lance Uranium Projects in Wyoming, USA which are in transition from an alkaline to a low pH in-situ recovery operation, with the primary aim of achieving the operating performance and cost profile of industry leading uranium projects.

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• Exercises Option on the Moran Lake Uranium and Vanadium Project

• Labrador Uranium Enters Agreement with Altius Minerals to Acquire Land Position in the Central Mineral Belt

TORONTO, Oct. 18, 2021 (GLOBE NEWSWIRE) — Consolidated Uranium Inc. (“CUR”, the “Company” or “Consolidated Uranium”) (TSXV: CUR) (OTCQB: CURUF) is pleased to announce the creation and planned spin-out of Labrador Uranium Inc. (“Labrador Uranium” or “LUR”), currently a majority-controlled subsidiary of CUR focused on the consolidation, exploration and development of uranium projects in Labrador. In connection with the proposed spin-out of LUR, the Company has provided notice to exercise its option pursuant to the option agreement announced on November 18, 2020 (the “Option Agreement”) to acquire 100% of the Moran Lake project (the “Moran Lake Project”).

To effect the spin-out, the Company has entered into an arrangement agreement with LUR (the “Arrangement Agreement”), pursuant to which among other things the Company will transfer ownership of Moran Lake Project to LUR in exchange for common shares of LUR (“LUR Shares”) which the Company intends to distribute to its shareholders on a pro rata basis (the “Arrangement”). The Company also intends to apply to list the LUR Shares (the “Listing”) on the Canadian Securities Exchange (the “CSE”). The Listing will be subject to LUR fulfilling all of the requirements of the CSE.

In addition, the Company and Labrador Uranium have entered into a purchase agreement (the “Altius Agreement”) with Altius Resources Inc., a wholly-owned subsidiary or Altius Minerals Corporation (“Altius”), pursuant to which LUR has agreed to acquire from Altius a 100% interest in the Central Mineral Belt Uranium-Copper Project (the “CMB Project”) and the Notakwanon project (the “Notakwanon Project” together, the “Altius Projects”), both located in Labrador (the “Altius Transaction”).

Transaction Highlights:

• Labrador Uranium Formed as New Entrant into Resurgent Uranium Market – Purpose built to explore for and develop uranium in Labrador, it is anticipated to hold a dominant land position in the Central Mineral Belt of Labrador (the “CMB”), a well-known uranium and multi-commodity metal district.

• Moran Lake Expected to Form Cornerstone Project – Located on the western side of the CMB, the Moran Lake Project hosts historical uranium and vanadium mineral resources. LUR intends to focus on confirming and potentially expanding the known historic mineral resources as well as exploring the property more generally. See “Technical Disclosure and Qualified Person” below.

• Agreement with Altius Expected to Secure Large Land Position – The ~125,000 hectare CMB Project is located adjacent to the Moran Lake Project to the east, west and south and spans to Paladin Energy’s Michelin Project in the east. In addition, the Notakwanon Project, located in Northern Labrador, is drill ready with previous evidence of high-grade uranium on surface.

• Proposed Spin-Out of Labrador Uranium is an Attempt to Unlock Value for CUR Shareholders – LUR is being spun out as a stand-alone, CSE-listed uranium exploration and development company, with CUR shareholders receiving their pro-rata portion of the LUR Shares issued to the Company.

• Experienced Team in Place – Under the leadership of Stephen Keith as Chief Executive Officer and Philip Williams as Chairman, the LUR management team and anticipated board of directors has decades of experience in exploration, development, and finance, with a significant focus on uranium.

• Summer 2021 Work Programs Completed Setting Up For Active 2022 – Work programs completed this summer at the Moran Lake Project and the CMB Project included: collecting and analysing data from decades of historical exploration work on the CMB Project by previous owners and government programs and field work to verify the >140 targets generated by this data collection and analysis. Results pending from this work are expected to be used in designing an aggressive field exploration program for 2022.

Philip Williams, President and CEO of CUR, commented “We are pleased to be announcing the partnership with Altius in the formation of Labrador Uranium. We believe that the Central Mineral Belt is an important uranium camp in Canada, which has tremendous exploration potential for uranium and other metals. As CUR focuses on near-term production in the United States, we determined that repositioning the Moran Lake Project as a part of a larger, Labrador-focused exploration portfolio would be the best way to unlock value for our shareholders. We liken this transaction to the original IPO of Aurora Energy in 2006 whose main asset was the Michelin Project. That company garnered a peak market cap of over $1.3b in 2007 and was ultimately taken over by Paladin Energy in 2011.”

Stephen Keith, CEO of LUR commented “I am looking forward to working with such an experienced team on this exciting new uranium exploration vehicle. LUR is expected to have all the underpinnings of a dynamic and successful new player in the resurgent uranium sector; a dominant land position in a prolific camp, historic mineral resources, backing by key uranium and mining industry players in CUR and Altius, and a strong team in place with significant uranium exploration, development and finance experience. Exploration success is driven by strong teams and quality assets. Combining the excellent work completed by, and historical successes of, these companies give me great confidence in the future of Labrador Uranium. I plan on hitting the ground running with the benefit of recently completed work programs on the projects. These programs have already generated over 140 targets setting the stage for an aggressive 2022 exploration season”.

Moran Lake Option Exercise

On October 17, 2021, CUR provided notice to the vendor of the Moran Lake Project that it has exercised the option to acquire the Moran Lake Project, for total consideration of $1,000,000 with $500,000 to be satisfied through the issuance of 191,570 common shares of CUR (“CUR Shares”), at a deemed price of $2.61 per CUR Share based on the five-day volume weighted average price of the CUR Shares up to October 15, 2021 and $500,000 in cash. In addition, the vendor will be entitled to receive certain future payments contingent upon the attainment of certain milestones tied to the spot price of uranium, as further described in the Company’s press release dated November 18, 2020.

In accordance with the terms of the Option Agreement, the vendor will be granted a 1.5% net smelter returns royalty (the “Moran Lake Royalty”) from the sale of the mineral products extracted or derived from the Moran Lake Project by CUR, which will be transferred to LUR in connection with the Arrangement. CUR shall have the right and option to purchase 0.5% of the Moran Lake Royalty for a price equal to $500,000, which CUR intends to retain following the transfer of the Moran Lake Project to LUR pursuant to the Arrangement.

All CUR securities issued in connection with the Option Agreement are subject to final approval of the TSX Venture Exchange (the “TSXV”) and will be subject to a hold period expiring four months and one day from the applicable date of issuance.

The Arrangement Agreement

Pursuant to the Arrangement Agreement, among other things, CUR has agreed to transfer the Moran Lake Project to LUR in exchange for 16,000,000 LUR Shares. Under the terms of the Arrangement, the CUR shareholders will receive the LUR Shares on a pro-rata basis based on the number of CUR Shares held at the effective date of the Arrangement. There will be no change in CUR shareholders' proportionate ownership in CUR as a result of the Arrangement. In addition, holders of options and warrants of CUR as of the effective date of the Arrangement will have such securities adjusted in accordance with their terms as a result of the Arrangement.

The Arrangement will be effected by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario). The Arrangement will be subject to regulatory approval, including the approval of the TSXV, court approval, conditional approval from the CSE for the Listing, as well as approval by not less than two-thirds of the votes cast at the special meeting (the “Meeting”) of the CUR shareholders, anticipated to be held in the first quarter of 2022. Full details of the Arrangement will be included in the management information circular to be sent to CUR shareholders in connection with the Meeting.

It is anticipated that the Arrangement and Listing will be completed in the first quarter of 2022.

The Altius Agreements

On October 17, 2021, the Company and Labrador Uranium entered into the Altius Agreement with Altius pursuant to which LUR has agreed to acquire the Altius Projects from Altius in exchange for 8,000,000 LUR Shares and a 2% gross overriding royalty on the CMB Project. Completion of the Altius Transaction is subject to certain closing conditions including, among other things, completion of the Arrangement and the conditional approval from the CSE for the Listing.

In the event that the Arrangement and Listing are not completed, Altius has the right (the “Put Right”) to require CUR to acquire the Altius Projects in exchange for $3,000,000 to be satisfied by the issuance of CUR Shares based on the volume weighted average price of the CUR Shares at the time of the exercise of the Put Right, subject to approval of the TSXV. In the event that the Put Right is not exercised by Altius, CUR has the right to acquire the Altius Projects on the same terms and conditions as the Put Right, subject to approval of the TSXV. Any CUR securities issued in connection with the Altius Transaction are subject to final approval of the TSXV and will be subject to a hold period expiring four months and one day from the applicable date of issuance.

Additionally, Altius, LUR and CUR have agreed on an area of interest whereby the two companies will work together in generating new targets and claims to bring to LUR.

In connection with closing of the Altius Transaction, LUR and Altius have agreed to enter into an investor rights agreement pursuant to which, for so long as Altius’ equity ownership in LUR remains at or above 10%, Altius will be entitled to equity participation rights to maintain its pro rata equity ownership in LUR. Altius has also agreed to certain resale restrictions on the LUR Shares it will hold and to provide voting support in certain circumstances.

About Labrador Uranium Inc.

Management and Board of Directors

• Stephen Keith P.Eng, Chief Executive Officer

  • Experienced engineer, investment banker and executive with over 20 years in the natural resources industry.

  • Lead Director of Aura Minerals Inc., Director of Sterling Metals Corp.

  • Previous positions include President and CEO of several public companies, including Rio Verde Minerals Development Corp., which Mr. Keith co-founded and took from a small private company, making several acquisitions and a public listing on the Toronto Stock Exchange through to its eventual sale to one of Brazil’s largest private equity firms.

• Greg Duras, Chief Financial Officer

  • Over 10 years of corporate and project finance experience in the resource sector.

  • Currently the CFO of Consolidated Uranium

  • Previous positions include, VP of Finance and Administration at S.C. Rosia Montana Gold Corporation S.A. (RMGC) as well as Controller of TSX-listed Gabriel Resources Ltd. and High River Gold Mines Ltd.

• Philip Williams CFA, Chairman

  • Over 20 years of mining and finance industry experience.

  • Currently the President, CEO & Chairman of Consolidated Uranium.

  • Extensive uranium and metals and mining experience in corporate development, as a sell-side research analyst, in fund management, investment banking.

The Projects

Moran Lake Project (Uranium-Vanadium)

The Moran Lake Project is an advanced-stage exploration project located within the Central Mineral Belt of Labrador, approximately 140 km north of the town of Happy Valley-Goose Bay and 85 km southwest of the coastal community of Postville on Kaipokok Bay. Access to the property is by helicopter and float plane out of Goose Bay.

Uranium was first discovered near Moran Lake by British Newfoundland Exploration Limited (Brinex) who conducted prospecting, geological mapping and radiometric surveying in the area from 1956 to 1958. The uranium mineralization is structurally controlled, typically hosted within fracture systems and to a lesser extent within shear zones. In outcrop, it is clear that local faulting, brecciation and alteration, all of uncertain age, are associated with the U-Cu mineralization at the Moran Lake C Zone. The mineralization is epigenetic and occurs in mafic volcanics of the Joe Pond Formation, Moran Lake Group, as well as in overlying sedimentary rocks of the Heggart Lake Formation, Bruce River Group.

Uranium mineralization at the C Zone mainly occurs in two distinct zones, referred to as the Upper C (“UC”) and Lower C (“LC”). Mineralization in the UC is hosted within brecciated, hematite altered and/or bleached mafic volcanics and hematitic cherts of the Joe Pond Formation, while mineralization in the structurally underlying LC is hosted predominantly within chloritized (reduced) sandstones of the Heggart Lake Formation. The UC also contains vanadium mineralization hosted mainly by hematized and brecciated mafic volcanic rocks of the Joe Pond Formation and brecciated gabbro or diabasic intrusives. In many areas, the vanadium concentration is directly proportional to the intensity of hematization and brecciation. The occurrence of vanadium mineralization may coincide with, but is not restricted to, zones of uranium mineralization.

In January 2011 (revised March 2011), Crosshair Exploration & Mining Corp. published a report entitled “Technical Report on the Central Mineral Belt (CMB) Uranium – Vanadium Project, Labrador, Canada”, which includes the mineral resource estimate set out in the table below for the C Zone. This mineral resource estimate is considered to be a “historical estimate” as defined under NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and CUR is not treating the historical estimate as a current mineral resource. An updated technical report in prepared in accordance with NI 43-101 is underway and is expected to be completed in the fourth quarter of 2021. See below under “Technical Disclosure and Qualified Person”.

CMB Project (Uranium and Other Metals)

The CMB Project comprises ~125,000 hectares covering a significant portion of the Central Mineral Belt in Labrador. There are several known uranium prospects along the CMB which have been identified over decades of historical work in the region. To date, LUR, in combination with Altius, CUR and its advisors, has generated more than 140 targets meriting further exploration work.

We believe the CMB is a globally significant Copper and Uranium region. It is an approximately 260 km long by 75 km wide belt endowed with hundreds of copper, uranium, silver, gold, REE, iron and molybdenum showings. It overlies the junction of four major geological provinces and affected by major magmatic and orogenic events. Originally recognized for its copper potential, copper exploration was mostly displaced in favour of uranium in the early 2000s. This land package contains numerous occurrences of copper, gold, silver, uranium, iron and REEs, with copper, gold and magnetite content showing a strong positive correlation. Uranium occurs with hematite and/or albite dominant alteration, in breccias or along shear zones.

Notakwanon Project (Uranium)

Located in northern Labrador, approximately 60 km west of the Labrador coast, the Notakwanon Project straddles the Churchill and Nain Provinces boundary. The Notakwanon Project is accessible by float plane or helicopter from Hopedale, Nain or Happy Valley-Goose Bay.

Previous exploration has identified a cluster of uranium prospects with greater than 20 occurrences. Three main zones with traces of high-grade uranium mineralization have been identified. These historical exploration results include:

• Rumble: Grab samples have returned values of up to 3.49% U3O8 and saw-cut channel samples have yielded up to 0.48% U3O8 over 2.5 metres.

• Old School: Grab samples have yielded up to 2.08% U3O8.

• Notak-1: Grab samples have yielded up to 1.81% U3O8

Overall, the Notakwanon prospect is an untested, drill-ready, multi-target project with similarities to basement-style uranium deposits.

Technical Disclosure and Qualified Person

The scientific and technical information contained in this news release was reviewed and approved by Peter Mullens (FAusIMM), CUR’s VP Business Development, who is a “Qualified Person” (as defined in NI 43-101).

The mineral resource estimate contained in this presentation is considered to be a “historical estimate” as defined under NI 43-101, and has been derived from a report entitled “Technical Report on the Central Mineral Belt (Cmb) Uranium – Vanadium Project, Labrador, Canada” dated January 20, 2011 as revised March 10, 2011 prepared for Crosshair Exploration & Mining Corp. The historical estimate was prepared by C. Stewart Wallis P. Geo, Barry A. Sparkes, P. Geo., Gary H. Giroux, P. Eng. (Qualified Person) using three-dimensional block models utilizing ordinary kriging to interpolate grades into each 10m x 10m x 4m high block. For the purpose of the vanadium mineral resource estimate, a vanadium specific model was created in the Upper C rock package above the C Zone thrust fault. The vanadium model is based on a wireframe solid defining the vanadium mineralized envelope using an external cut-off of approximately 0.1% V2O5. For the purposes of the estimates, a specific gravity of 2.83 was used.

A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource, and CUR is not treating the historical estimate as a current mineral resource. The Company would need to conduct an exploration program, including twinning of historical drill holes in order to verify the Moran Lake historical estimate as a current mineral resource.

About Consolidated Uranium Inc.

Consolidated Uranium Inc. (TSXV: CUR) (OTCQB: CURUF) was created in early 2020 to capitalize on an anticipated uranium market resurgence using the proven model of diversified project consolidation. To date, the company has acquired or has the right to acquire uranium projects in Australia, Canada, Argentina and the United States each with significant past expenditures and attractive characteristics for development. Most recently, the Company entered a transformational strategic acquisition agreement and alliance with Energy Fuels Inc (NYSE American: UUUU) (TSX: EFR), a leading U.S.-based uranium mining company, to acquire a portfolio of permitted, past-producing conventional uranium and vanadium mines in the Utah and Colorado. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning CUR as a near-term uranium producer.

Philip Williams
President and CEO
+1 778 383 3057
pwilliams@consolidateduranium.com

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward-Looking Information.

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the completion of the Arrangement and the Altius Transaction; the anticipated timing of the Meeting, closing of the Arrangement and the Listing; the anticipated timing of a technical report on the Moran Lake project. the anticipated benefits of the Arrangement for CUR shareholders; the satisfaction or waiver of the closing conditions set out in the Arrangement Agreement and the purchase agreement for the Altius Projects, including receipt of all regulatory approvals; the field exploration program anticipated for 2022; the anticipated management team and board of directors of LUR; and the satisfaction final approval of the Agreement by the TSX Venture Exchange and other activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Such forward-looking information and statements are based on numerous assumptions, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court and shareholder approvals; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Arrangement, the Listing and the Altius Transaction; that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: the diversion of management time on Transaction-related issues; expectations regarding negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

Shares of Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) hit a new 52-week high of $8.51 during Monday morning trading, continuing to build on recent momentum. Over the course of the last 12 months, shares of Energy Fuels have moved between this new high and a 52-week low of $1.42. At the time of publishing, approximately 5.6 million shares have changed hands today, compared with an average volume of 4.5 million.

Throughout this period of strong performance, Energy Fuels has remained committed to the communities in which it operates. Last month, the company announced the establishment of the San Juan County Clean Energy Foundation, a fund specifically designed to contribute to the communities surrounding Energy Fuels’ White Mesa Mill in Southeastern, Utah.

In tandem with the announcement, Energy Fuels deposited $1 million into the foundation and detailed plans to provide ongoing annual funding equal to 1% of White Mesa Mill’s future revenues, providing funding to support the local economy and local priorities. The foundation will focus on supporting education, the environment, health/wellness, Tribal initiatives, and economic advancement in the City of Blanding, San Juan County, the White Mesa Ute Community, the Navajo Nation, and other area communities.

Learn more by viewing the company’s latest investor presentation at https://ibn.fm/OpmoH

About Energy Fuels Inc.

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States.

Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year and has the ability to produce vanadium when market conditions warrant, as well as REE carbonate and uranium from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8 per year.

In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. For more information, visit the company’s website at www.EnergyFuels.com.

NOTE TO INVESTORS: The latest news and updates relating to UUUU are available in the company’s newsroom at http://ibn.fm/UUUU

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Company Executives share vision and answer questions live at VirtualInvestorConferences.com

NEW YORK, Oct. 15, 2021 /PRNewswire/ — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming Uranium, Strategic and Precious Metals Investor Conference on October 19^th, 20^th, 21^st. Individual investors, institutional investors, advisors, and analysts are invited to listen to the executive management of metals and mining companies discuss their property positions, development schedules, market opportunity, and investment highlights.

REGISTER NOW AT: https://bit.ly/3mTfIO2

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations or ask questions.

"OTC Markets is excited to host the three-day Uranium, Strategic and Precious Metals Investor Conference," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "We appreciate the collaboration with our co-sponsor, Viriathus, and look forward to hearing from today's industry leaders."

October 19^th Agenda – Uranium:

October 20th Agenda – Strategic and Precious Metals:

October 21^st Agenda – Strategic and Precious Metals:

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit

www.virtualinvestorconferences.com.

About Virtual Investor Conferences^®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.

A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.

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VANCOUVER, British Columbia, Oct. 15, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that the company will be presenting at Red Cloud's 2021 Oktoberfest Fall Mining Showcase and PI Financial’s “Uranium Day 2.0: The Emerging Uranium Opportunity”. We invite our shareholders and all interested parties to join us there.

Red Cloud’s 2021 Oktoberfest Fall Mining Showcase:

The annual conference will be a virtual event this year and will take place from October 18-20, 2021. Jordan Trimble, President and CEO will be presenting on Wednesday, October 20^th at 12:30PM PST (3:30PM EST).

For More Information and to Register for the Conference:
https://www.redcloudfs.com/oktoberfest2021/

PI Financial’s Uranium Day 2.0: The Emerging Uranium Opportunity:

PI’s conference will be a virtual event and will take place on October 27^th, 2021. Jordan Trimble will be presenting at 12:10pm PST (3:10pm EST).

For More Information and to Register for the Conference:
https://zoom.us/webinar/register/WN_v180HBQYTem4atpfZ2bG-A

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada's Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 250,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison's Wheeler River project and 39 kilometres south of Cameco's McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U₃O₈ over 5.9 metres including 20.8% U₃O₈ over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium's Triple R deposit as well as NexGen Energy's Arrow deposit.

The Company also owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈ at 0.03% and 5.3 million pounds of ThO₂ at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour's goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”
_____________________

Jordan Trimble
President and CEO

For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Divestment of Narrabri thermal coal royalty for consideration of up to $36 million

LONDON, UK / ACCESSWIRE / October 14, 2021 / Anglo Pacific Group PLC ("Anglo Pacific" the "Company" or the "Group") (LSE:APF, TSX:APY) is pleased to announce its exit from thermal coal by entering into an agreement to sell its 1% gross revenue royalty over the Narrabri mine to the operator, Whitehaven Coal Limited ("Whitehaven") for consideration of up to $36 million.

The consideration is structured as fixed payments totalling $21.6 million, along with contingent payments which could generate a further $14 million. The transaction is expected to close on 31 December 2021, with no material conditions precedent to closing. Anglo Pacific will continue to receive royalties from Narrabri until the end of the current calendar year.

This transaction significantly improves the Group's carbon footprint with a remaining portfolio of assets now increasingly weighted towards cobalt, vanadium, copper and nickel – commodities which will be essential to decarbonise energy generation in the years ahead.

Highlights

• $21.6 million fixed consideration, to be received in instalments until 31 December 2026, of which ~$13 million will be received within 18 months of the transaction close date

• Contingent consideration of a further estimated $14 million depending on future coal price levels, Narrabri sales volumes and the successful permitting of the Narrabri South extension

• H2 2021 Narrabri royalty income estimated at $1 – 2 million to be paid to Anglo Pacific, a period which is seeing elevated thermal coal prices

• Increases Anglo Pacific's portfolio contribution from 21^st century commodities that support a more sustainable world

• Provides Anglo Pacific with the opportunity to redeploy capital into further acquisitions

Anglo Pacific CEO, Julian Treger, commented:

"I am delighted to announce that we have entered into an agreement to sell the Narrabri thermal coal royalty, which is aligned with our strategy and represents a further step in focusing on the investment in 21^st century commodities supporting a more sustainable world.

This transaction is consistent with our stated strategy of moving away from carbon-based energy exposure, as demonstrated by our investments in copper, nickel, vanadium, uranium and most recently the transformational $205 million Voisey's Bay cobalt stream acquired earlier this year.

Whitehaven was selected as the preferred bidder following a competitive sales process, on the basis of an offer which we considered to provide maximum value to Anglo Pacific shareholders. We intend to deploy the proceeds from this transaction into further acquisitions, including to partially fund the upcoming $20 million Incoa calcium carbonate financing which is likely to occur in H1 2022."

The Transaction

Anglo Pacific has entered into an agreement to sell its Narrabri thermal coal royalty to a subsidiary of Whitehaven. The transaction is expected to close on 31 December 2021 with no material conditions precedent to closing, and the Group will continue to be entitled to receive H2 2021 Narrabri royalty income, estimated at $1 – 2 million.

Anglo Pacific will receive $21.6 million in fixed payments, of which ~$13 million is due within 18 months of the transaction close date. The remainder will be received in annual instalments until the end of 2026.

Contingent payments totalling $5 million, payable in instalments, will become receivable upon the approval of the Narrabri South extension project by state and federal authorities in Australia, prior to 31 December 2026.

In addition, Anglo Pacific is entitled to receive bi-annual contingent payments linked to future realised Narrabri coal prices ranging from $0.05/t if realised prices exceed $90/t to $0.25/t if realised coal prices exceed $150/t up to the end of calendar year 2026. Assuming Narrabri ROM production of 4.3-5.0 million tonnes for fiscal year 2022 and 7.0-8.5 million tonnes per annum in the southern panels, the Company would be entitled to receive approximately $9 million in price linked contingent payments, were realised Narrabri coal prices to be in excess of $150/t.

History

Anglo Pacific acquired the Narrabri royalty for $65 million in March 2015. As at 31 December 2021, the Narrabri royalty is expected to have a carrying value of approximately $45 million based on amortised cost. Since its acquisition, Anglo Pacific has received approximately $32 million in royalty income, with a further $1 – 2 million expected before year-end 2021.

For further information:

Notes to Editors

About Anglo Pacific

Anglo Pacific Group PLC is a global natural resources royalty and streaming company. The Company's strategy is to become a leading natural resources company through investing in high quality projects in preferred jurisdictions with trusted counterparties, underpinned by strong ESG principles. It is a continuing policy of the Company to pay a substantial portion of these royalties and streams to shareholders as dividends.

Unless otherwise stated, all figures quoted are in US$ denomination.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Anglo Pacific Group PLC

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Vancouver, British Columbia–(Newsfile Corp. – October 14, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the completion of a geochemical survey at its 100%-owned Gibbons Creek Uranium Project ("Gibbons Creek", or the "Project"). Gibbons Creek currently consists of seven mineral claims encompassing 13,864 hectares (34,259 acres), located along the northern margin of the Athabasca Basin immediately west of the community of Stony Rapids, Saskatchewan, in a region hosting multiple uranium occurrences.

2021-2022 Exploration at Gibbons Creek

In early October 2021, ALX commenced a Spatiotemporal Geochemical Hydrocarbons ("SGH") soil geochemistry survey at Gibbons Creek. SGH is an analytical method developed by Actlabs of Ancaster, Ontario, Canada that is designed to detect subtle geochemical anomalies emanating from a buried source. Three hundred and twenty-one (321) samples were collected from a 4.4 kilometre-long grid over a strong, untested geophysical conductor detected from historical airborne electromagnetic surveys. Sample lines within the grid were spaced 200 metres apart and were narrowed to 100 metres over an interpreted cross-cutting fault structure. The results of the SGH survey are expected to provide valuable information for a permitted drilling program planned for the winter of 2022, following engagement with the local communities and First Nations in the Stony Rapids area.

SGH Sampling on Gibbons Creek Grid

To view an enhanced version of this graphic, please visit:
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To view maps and photos of Gibbons Creek click here

About Gibbons Creek

The Project is complemented by the infrastructure provided at Stony Rapids, SK, including all-weather Highway 905, a commercial airport, equipment rentals and supplies, as well as readily available accommodation, thereby providing high efficiencies for local exploration. Work by ALX and its predecessor company Lakeland Resources Ltd. produced the following indicators of uranium mineralization:

• Prospecting in 2013 confirmed the presence of high-grade uranium-bearing boulders ranging up to 4.28% U₃O₈;

• Radon surveys in 2015 detected an anomaly approximately 1,200 metres by 500 metres in size with peak radon values ranging between 4.00 picocuries per square metre per second ("pCi/m²/sec") and 10.77 pCi/m²/sec at ten locations, which are among the highest recorded radon values in the Athabasca Basin;

• Historical drill hole GC15-03 intersected 0.13% U₃O₈ over 0.23 metres, immediately below the sub-Athabasca unconformity;

• Spectroscopic analysis of core samples from ALX's 2015 drilling detected clay alteration products such as illite and sudoite (a unique form of chlorite associated with uranium mineralization) in the sandstone at or near the unconformity, which suggests that hydrothermal alteration has occurred in the vicinity of the drill hole;

• Geophysical conductors defined by a 2017 airborne ZTEM survey remain to be tested.

In February 2021, ALX received an exploration permit for Gibbons Creek, good to October 2022, which allows for a 5,000-metre drilling program in up to 20 holes along with ground-based geophysics, prospecting and geochemical sampling. Access to the Project is year-round, thereby creating a flexibility for either summer or winter exploration programs. Several geophysical conductors at the Project identified by airborne and ground geophysics have not yet been drill tested.

National Instrument 43-101 Disclosure

The technical information in this news release has been reviewed and approved by Jody Dahrouge, P.Geo., a Director of ALX, who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Geochemical results for surface samples collected by ALX in 2020 were analyzed at the Saskatchewan Research Council in Saskatoon, SK by Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Gold, platinum and palladium were analyzed by fire assay techniques.

Historical geochemical results and geological descriptions quoted in this news release were taken directly from assessment work filings and summary reports published by the Government of Saskatchewan. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by its Qualified Person, but create a scientific basis for ongoing work in the Gibbons Creek area. Management further cautions that past results or discoveries on adjacent or nearby mineral properties are not necessarily indicative of the results that may be achieved on ALX's mineral properties.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL," on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF."

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 250,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX Corporation and Orano Canada Inc.), and 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects.

ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: the Gibbons Creek Project ("Gibbons Creek") is prospective for uranium, gold, and PGE mineralization; the Company's plans to undertake exploration activities at Gibbons Creek, and expend funds on Gibbons Creek. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration at Gibbons Creek, including drilling; our initial findings at Gibbons Creek may prove to be unworthy of further expenditure; commodity prices may not support exploration expenditures at Gibbons Creek; and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop Gibbons Creek, and even if uranium or other metals or minerals are discovered in quantity, the project may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Six Months Ended June 30, 2021, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99604

Toronto, Ontario–(Newsfile Corp. – October 14, 2021) – Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint" or the "Company") announced that the Company will be presenting at the Red Cloud's 2021 Virtual Oktoberfest Fall Mining Showcase, taking place from October 18-20, 2021 and at the 2021 New Orleans Investment Conference from October 19-22, 2021.

Chris Frostad, President and CEO, will be presenting virtually at the Red Cloud's 2021 Virtual Oktoberfest Fall Mining Showcase on Wednesday, October 20, 2021 at 2:45 pm ET. To register for the conference, please visit: https://www.redcloudfs.com/oktoberfest2021/.

Chris Frostad will also be hosting a luncheon presentation at the 2021 New Orleans Investment Conference on Friday, October 22, 2021 at 12:30 pm local time. During this presentation, Chris will be sharing some background on the excitement we are currently experiencing in the uranium space as uranium prices hit their tipping point (https://youtu.be/jASihpiyg5M). To register for this year's New Orleans conference, please visit: https://neworleansconference.com/2021-conference-registration/.

About Purepoint
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) actively operates an exploration pipeline of 12 advanced projects in Canada's Athabasca Basin, the world's richest uranium region. Purepoint's flagship project is the Hook Lake Project, a joint venture with two of the largest uranium suppliers in the world, Cameco Corporation and Orano Canada Inc. The Hook Lake JV Project is on trend with recent high-grade uranium discoveries including Fission Uranium's Triple R Deposit and NexGen's Arrow Deposit and encompasses its own Spitfire discovery (53.3% U3O8 over 1.3m including 10m interval of 10.3% U3O8). Together with its flagship project, the Company's projects stretch across approximately 185,000 hectares of claims throughout the Athabasca Basin. These claims host over 20 distinct and well-defined drill target areas with advanced geophysical surveys completed, and in some cases, have had first pass drilling performed.

Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, is the Qualified Person responsible for technical content of this release.

For more information, please contact:
Chris Frostad, President & CEO
Phone: (416) 603-8368
Email: cfrostad@purepoint.ca

For additional information please visit our new website at https://purepoint.ca, our Twitter feed: @PurepointU3O8 or our LinkedIn page @Purepoint-Uranium.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.

Disclosure regarding forward-looking statements

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99560

Vancouver, British Columbia–(Newsfile Corp. – October 13, 2021) – Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "Company") is pleased to announce that it has completed its first exploration campaign since completion of the acquisition of 100% interest in the Quartz Gulch Cobalt-Copper property, Idaho, USA in July, 2021. The Quartz Gulch property consists of 127 claims totaling 10.65 square kilometres, located approximately five kilometres to the southeast of the past producing Blackbird cobalt mine and Jervois Global Limited ("Jervois") Idaho Cobalt Operation, the only permitted cobalt mine under construction in North America (Figure 1). Jervois reports that development activities at the Idaho Cobalt Operation on trend from Quartz Gulch are on track for commissioning of the mine in mid-2022 (Source: Jervois Global Limited News Release dated September 27, 2021).

Noranda, a previous mine operator in the Idaho Cobalt Belt completed a regional geological and stream sediment sampling study in 1982 establishing the Quartz Gulch property as prospective for stratabound cobalt mineralization and cobalt hosted in quartz-tourmaline breccias on trend from the Blackbird mine.

Rick Mazur, President & CEO commented, "These anomalies were never followed up after closure of the Blackbird mine. Forum is the first company to conduct a thorough exploration program on the property. Forum's exposure to cobalt in North America's pre-eminent cobalt mining camp rounds out our focus on the energy metals- uranium, copper, nickel and cobalt."

Quartz Gulch Exploration Program

Dahrouge Geological Consulting Ltd. of Denver, Colorado was contracted to carry out a program of geological mapping, prospecting, outcrop sampling and soil sampling in overburden covered areas. An interpretation and integration of remote sensing hyperspectral data of the Quartz Gulch property and surrounding area identified 14 anomalous targets on the property that were prospected, mapped and sampled. A total of 94 rock samples and 329 soil samples have been sent to Activation Laboratories Ltd. (Actlabs) in Ancaster, Ontario for geochemical analysis. Results are expected in late November.

Outlook for the Cobalt Market

Forum Energy Metals Corp. reports that the current cobalt price has risen to $24.02 US/lb., as reported by www.Mining.com/markets/commodities/cobalt on October 9, 2021. This price represents an approximate 68% increase from the 52 week low of $14.32 US/lb. Cobalt has been identified as a critical mineral by both the Canadian and US governments and is essential for transitioning to a low-carbon economy. Current primary use includes rechargeable lithium-ion batteries for portable electronics, with future increased demand expected from rechargeable batteries used in electric vehicles. The global cobalt supply chain is dominated by the DRC, the world's largest primary cobalt miner with 70% of global production, and China, the world's largest refiner and consumer with more than 80% of this consumption used directly for rechargeable batteries.

Idaho Cobalt Belt: Forum's 100% Owned Quartz Gulch Project

In North America, most cobalt is mined as a by-product from nickel or copper production. The Idaho Cobalt Belt is one of the few regions where cobalt occurs in high concentrations to make it the primary metal in existing deposits. It is here that new primary cobalt mining is forecast to begin in 2022 by Jervois Global Ltd, which is advancing construction for an environmentally sustainable mine with a small footprint and a zero water discharge operation. (Source: Jervois Global Ltd. Website https://jervoisglobal.com/) Forum acquired the Quartz Gulch cobalt-copper property in 2018, which is on trend and adjacent to Jervois Global's mine development project.

About Forum Energy Metals

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) has three 100% owned energy metal projects being drilled in 2021 by the Company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/platinum/palladium in Saskatchewan, Canada's Number One Rated mining province for exploration and development. In addition, Forum has a portfolio of seven drill ready uranium projects and a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard J. Mazur, P.Geo.
President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact:

Rick Mazur, President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585

Figure 1. Location of the Quartz Gulch property southeast of the past producing Blackbird Mine and Jervois Global's Idaho Cobalt Operation under development.

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Thursday October 14, 2021, Noon EDT (10:00 AM MDT)

CENTENNIAL, Colo., October 13, 2021–(BUSINESS WIRE)–Westwater Resources (NYSE: American: WWR), a battery grade natural graphite development Company, will hold a special conference call on Thursday October 14, 2021, at noon EDT (10:00 AM MDT) to discuss the recently announced results of its Definitive Feasibility Study (DFS) for a battery graphite production facility and its recent acquisition of 90,000 square feet of commercial property adjacent to the Kellyton site.

Westwater plans to develop its Coosa Graphite Processing Facility to purify natural graphite concentrates and to provide battery ready graphite products. The project will use state of the art technology and processing techniques – the Company has applied for a patent for the purification and processing of graphite concentrates with 95-97 percent carbon content into graphite products used in batteries for electric vehicles.

Dial In Numbers:

• 1-800-319-4610 (USA and Canada)

• 1-604-638-5340 (International)

• Conference ID: Westwater Discussion of Definitive Feasibility Study

Hosting the call will be Christopher M. Jones, President and Chief Executive Officer of Westwater Resources, who will be joined by Jeffrey L. Vigil, Vice President – Finance and Chief Financial Officer, Chad M. Potter, Chief Operating Officer and Steven M. Cates, Chief Accounting Officer.

The conference call presentation will also be available via a live web cast through the Company’s website, www.westwaterresources.net.

A replay of the call will be available on the Company’s website for a limited time and by phone:

• 1-855-669-9658 (USA and Canada)

• 1-412-317-0088 (Internationally)

• Replay access code: 7927

About Westwater Resources Inc.

Westwater Resources Inc. (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s primary project is the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. Forward looking statements include, among other things, statements concerning the construction and operation of the Company’s Coosa Graphite Project production facility and the costs and schedules associated with them. The Company cautions that there are certain factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Westwater’s Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information:

(a) the Company’s ability to successfully construct and operate a commercial-scale plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19 and its potential impacts to the capital markets; (e) government regulation of the graphite industry and the vanadium industry; (f) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (g) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama and Colorado; (h) the ability of the Company to enter into and successfully close acquisitions or other material transactions; (i) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (j) new litigation or arbitration; Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005338/en/

Contacts

Westwater Resources Inc.
Christopher M. Jones, President & CEO
Phone: 303.531.0480

Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Product Sales Contact:
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
Email: Sales@westwaterresources.net

Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
Email: Westwater@plrinvest.com

OAKVILLE, Ontario, Oct. 13, 2021 (GLOBE NEWSWIRE) — Terrestrial Energy and Cameco Corporation (TSX: CCO; NYSE: CCJ), both leading Canadian companies in their fields, have signed a Memorandum of Understanding (MOU) to examine potential partnership opportunities to deploy Terrestrial Energy’s Integrated Molten Salt Reactor (IMSR) Generation IV nuclear power plants in North America and worldwide, and to evaluate possible opportunities for the supply of uranium supply, fuel and other services. As part of these activities, the companies are investigating the potential of Cameco’s Port Hope uranium conversion facility in southern Ontario for IMSR fuel salt supply.

This MOU is non-binding and non-exclusive. It follows Terrestrial Energy’s prior agreements with Cameco to supply uranium products for its ongoing fuel testing programs.

“Nuclear energy is a proven, reliable source of carbon-free power and a critical tool in achieving a net-zero emissions future in North America and worldwide,” said Tim Gitzel, Cameco’s president and CEO. “Cameco plans to be a key fuel supplier for the emerging small modular reactor and advanced reactor market. We look forward to investigating with Terrestrial Energy opportunities to partner for possible future deployments of its next-generation nuclear power plant technology.”

Cameco is a leading provider of uranium, refining, conversion, fuel fabrication and component manufacturing services for the global nuclear energy industry. The company is one of the world’s largest producers of uranium fuel for carbon-free nuclear power generation, including supplying fuel and fuel assemblies for CANDU reactors in Canada and abroad.

“Cameco is a Canadian and global leader in uranium supply and other fuel services, and we welcome this opportunity to investigate with them opportunities around the deployment of IMSR power plants and to supply nuclear fuel to our plants in Canada and worldwide,” said Simon Irish, CEO of Terrestrial Energy. “IMSR power plants use Generation IV nuclear technology for a 50 percent improvement in the efficiency of nuclear power generation and are a carbon-free alternative to burning fossil fuels.”

The Terrestrial Energy IMSR power plant is one of three Small Modular Reactor (SMR) power plant designs under consideration for deployment at Ontario Power Generation’s Darlington Nuclear Generating Station.
It is one of two Generation IV technology candidates under consideration by OPG, and the IMSR is the only Canadian technology candidate.

Terrestrial Energy’s Oakville operation represents the largest SMR power plant technology development project in Canada. Terrestrial Energy announced on September 14 its upgraded IMSR400 power plant, which consists of twin IMSRs and generators to produce 390 MW of clean electricity from one facility.

About Terrestrial Energy

Terrestrial Energy is a developer of small and modular nuclear power plants that use its proprietary Integral Molten Salt Reactor (IMSR) technology. IMSR technology is non-Light Water Reactor and Generation IV technology and will generate electricity 50 percent more efficiently than conventional nuclear reactor technolgy. The IMSR represents a step-change improvement in economics, versatility and functionality of nuclear power plants that is possible only through Generation IV technology. IMSR power plants will provide resilient, reliable, dispatchable, zero-carbon and cost-competitive electric power, as well as high-grade industrial heat for use in many industrial applications, such as chemical synthesis, hydrogen production and desalination, and in so doing extend the application of nuclear energy far beyond electric power markets. IMSR power plants have the potential to make important contributions to industrial competitiveness, energy security, and economic growth. Their deployment will support rapid global decarbonization of the primary energy system by displacing fossil fuel combustion across a broad spectrum and can scale to meet net-zero policy goals of major industrial economies. Using an innovative design, and proven and demonstrated molten salt reactor technology, Terrestrial Energy is engaged with regulators and industrial partners to complete IMSR engineering and to commission first IMSR power plants in the late 2020s.

CONTACT: Contact: Brian Smith Terrestrial Energy Phone: (416) 822-3130 Email: bsmith@the-lanes.ca

SASKATOON, Saskatchewan, Oct. 13, 2021 (GLOBE NEWSWIRE) — Cameco (TSX: CCO; NYSE: CCJ) and Terrestrial Energy, both leading Canadian companies in their fields, have signed a Memorandum of Understanding (MOU) to examine potential partnership opportunities to deploy Terrestrial Energy’s Integrated Molten Salt Reactor (IMSR) Generation IV nuclear power plants in North America and worldwide, and to evaluate possible opportunities for the supply of uranium supply, fuel and other services. As part of these activities, the companies are investigating the potential of Cameco’s Port Hope uranium conversion facility in southern Ontario for IMSR fuel salt supply.

This MOU is non-binding and non-exclusive. It follows Terrestrial Energy’s prior agreements with Cameco to supply uranium products for its ongoing fuel testing programs.

“Nuclear energy is a proven, reliable source of carbon-free power and a critical tool in achieving a net-zero emissions future in North America and worldwide,” said Tim Gitzel, Cameco’s president and CEO. “Cameco plans to be a key fuel supplier for the emerging small modular reactor and advanced reactor market. We look forward to investigating with Terrestrial Energy opportunities to partner for possible future deployments of its next-generation nuclear power plant technology.”

Cameco is a leading provider of uranium, refining, conversion, fuel fabrication and component manufacturing services for the global nuclear energy industry. The company is one of the world’s largest producers of uranium fuel for carbon-free nuclear power generation, including supplying fuel and fuel assemblies for CANDU reactors in Canada and abroad.

“Cameco is a Canadian and global leader in uranium supply and other fuel services, and we welcome this opportunity to investigate with them opportunities around the deployment of IMSR power plants and to supply nuclear fuel to our plants in Canada and worldwide,” said Simon Irish, CEO of Terrestrial Energy. “IMSR power plants use Generation IV nuclear technology for a 50 percent improvement in the efficiency of nuclear power generation and are a carbon-free alternative to burning fossil fuels.”

The Terrestrial Energy IMSR power plant is one of three Small Modular Reactor (SMR) power plant designs under consideration for deployment at Ontario Power Generation’s (OPG) Darlington Nuclear Generating Station. It is one of two Generation IV technology candidates under consideration by OPG, and the IMSR is the only Canadian technology candidate.

According to Terrestrial Energy, its Oakville operation represents the largest SMR power plant technology development project in Canada. Terrestrial Energy announced on September 14 its upgraded IMSR400 power plant, which consists of twin IMSRs and generators to produce 390 MW of clean electricity from one facility.

For more information on Terrestrial Energy or its advanced reactor technology, please visit the company’s website at www.terrestrialenergy.com.

Profile

Cameco is one of the largest global providers of the uranium fuel needed to energize a clean-air world. Our competitive position is based on our controlling ownership of the world’s largest high-grade reserves and low-cost operations. Utilities around the world rely on our nuclear fuel products to generate power in safe, reliable, carbon-free nuclear reactors. Our shares trade on the Toronto and New York stock exchanges. Our head office is in Saskatoon, Saskatchewan.

Caution Regarding Forward-Looking Information and Statements

This news release includes statements considered to be forward-looking information or forward-looking statements under Canadian and U.S. securities laws (which we refer to as forward-looking information), including: the intention of Cameco and Terrestrial Energy to examine opportunities to deploy IMSR Generation IV power plants, and to evaluate possible opportunities for the supply of products and services, including the potential role of Cameco’s Port Hope uranium conversion facility for IMSR fuel salt supply; our views of the role of nuclear energy in providing carbon-free power and achieving net-zero emissions; Cameco’s plans to be a key fuel supplier for the small modular reactor and advanced reactor market; the possibility of the future partnering of Cameco and Terrestrial Energy in the deployment of new nuclear power plant technology; the expectation that IMSR power plants using Generation IV technology will achieve a 50 percent improvement in efficiency of nuclear power generation; the possible deployment of the IMSR SMR power plant design at OPG’s Darlington Nuclear Generating Station; and the expectation that Terrestrial Energy’s upgraded IMSR400 power plant at its Oakville facility will produce 390 MW of clean electricity. This forward-looking information is based on a number of assumptions, including assumptions regarding: the ability of Cameco and Terrestrial Energy to examine and develop successfully the partnership opportunities under consideration, or for the deployment of new power plant technology; the suitability of Cameco’s Port Hope facility for IMSR fuel salt supply; the ability of nuclear energy to provide carbon-free power and achieve net-zero emissions; Cameco’s ability to attract and service customers in the small modular reactor and advanced reactor market; assumptions regarding the ability of Generation IV technology to achieve the expected improvement in efficiency; the suitability of the IMSR SMR power plant design at OPG’s Darlington facility; and the production capability of the IMSR400 power plant. This information is subject to a number of risks, including: the risk that Cameco and Terrestrial Energy may be unable to develop successful partnership opportunities; Cameco’s Port Hope facility may prove unsuitable for IMSR fuel salt supply; nuclear energy may not provide the expected benefits in achieving net-zero emissions; Cameco may not be successful in becoming a key supplier in the small modular reactor and advanced reactor market; the Generation IV technology may not achieve the expected efficiency level; OPG may not select the IMSR SMR power plant design for its Darlington facility; and the IMSR400 power plant may not achieve the expected production capability. The forward-looking information in this news release represents our current views, and actual results may differ significantly. Forward-looking information is designed to help you understand our current views, and may not be appropriate for other purposes. We will not necessarily update this information unless we are required to by securities laws.

Investor inquiries:
Rachelle Girard
306-956-6403
rachelle_girard@cameco.com

Media inquiries:
Jeff Hryhoriw
306-385-5221
jeff_hryhoriw@cameco.com

VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF, FSE: A0U2), is pleased to announce its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC). DTC is a subsidiary of the Depository Trust & Clearing Corp. (DTCC) that manages the electronic clearing and settlement of publicly traded companies in the United States.

Azincourt’s common shares are now fully DTC eligible and will continue to trade under the ticker symbol “AZURF” on the OTC Markets. Through an electronic method of clearing securities, DTC eligibility simplifies the process of trading and transferring the Company’s common shares between brokerages in the United States.

“With our OTCQB upgrade and now DTC eligibility, Azincourt shares are fully tradeable in the US,” says Alex Klenman, President and CEO. “As the uranium sector continues to pick up momentum and become more visible to investors, gaining full accessibility was an important goal of ours. We’re eager to broaden our audience in the US and now we’re in a strong position to do so,” continued Mr. Klenman.

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”
Alex Klenman, President & CEO

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com

Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Vancouver, British Columbia–(Newsfile Corp. – October 13, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the closing on October 13, 2021 of the second and final tranche of its previously announced private placement (see ALX news release dated October 4, 2021). In the second tranche, $249,999.96 was raised through the issuance of an additional 2,380,952 flow-through units ("FT Units") at a price of $0.105 per unit. In the private placement, the Company issued a total of 17,894,735 non-flow-through units (the "NFT Units") and 13,333,333 FT Units for gross proceeds in both tranches of $3,099,999.79 (the "Offering").

The NFT Units were sold at a price of $0.095 per NFT Unit, consisting of one common share and one common share purchase warrant. The FT Units were sold at a price of $0.105 per FT Unit consisting of one flow-through common share and one-half of one non-flow through common share purchase warrant. One common share purchase warrant from the NFT Units or one whole common share purchase warrant from the FT units entitles the holder to purchase one non-flow through common share of the Company at a price of $0.14 for a period expiring on October 8, 2023.

The securities issued in the Offering are subject to a hold period of four months plus one day from the closing date, expiring February 9, 2022. The proceeds from the sale of FT Units will be used for exploration programs on the Company's Saskatchewan uranium and gold properties and on its Ontario nickel and copper properties. The proceeds from the sale of NFT Units will be used for general working capital.

Finder's fees for the second and final tranche were paid to Red Cloud Securities Inc. consisting of $17,500 in cash and 166,667 finder's warrants. Each finder's warrant is exercisable at a price of $0.095 and is exercisable until October 8, 2023.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 250,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX Corporation and Orano Canada Inc.), and 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project, and the Javelin and McKenzie Lake Uranium Projects.

ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two option stages), and in the Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at, PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com.

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, public health, environmental and technological factors that may affect the Company's operations, markets, products and share price. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Six Months Ended June 30, 2021, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99578

Not for distribution to United States Newswire Services or for dissemination in the United States

VANCOUVER, British Columbia, Oct. 12, 2021 (GLOBE NEWSWIRE) — AZINCOURT ENERGY CORP. (“Azincourt” or the “Company”) (TSX.V: AAZ, OTCQB: AZURF, FSE: A0U2) is pleased to announce that it has closed the final tranche of its non-brokered private placement. In connection with closing of the final tranche, the Company has issued 17,071,428 non-flow-through units (each, an “NFT Unit”) and 6,666,667 flow-through units (each, an “FT Unit”). Each NFT Unit was offered at a price of $0.07 and each FT Unit was offered at a price of $0.075. Each NFT Unit and FT Unit consists of one common share and one share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $0.10 until October 12, 2024.

When combined with the earlier tranche of the placement, the Company has raised gross proceeds of $8,100,000 through the issuance of 77,877,416 NFT Units, 17,600,126 FT Units and 14,285,714 charity flow-through units. Closing of the final tranche of the placement represents an increase of 6,666,667 FT Units, for gross proceeds of an additional $500,000, from the amount originally announced by the Company on September 22, 2021.

The gross proceeds from the issuance of the FT Units will be used for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)), which will be renounced with an effective date of no later than December 31, 2021, to the purchasers of the FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Units. If the qualifying expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Units for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the qualifying expenditures. It is expected that expenditures will largely be focused on the upcoming 30-to-35-hole, 7,000-metre drill program at the East Preston uranium project, located in the western Athabasca basin, Saskatchewan, Canada.

The net proceeds from the sale of NFT Units will be used primarily for the continued development of the Company's East Preston uranium project; working capital; and general corporate purposes.

All securities issuable in connection with the placement are subject to a statutory hold period, in accordance with applicable securities laws, until January 30, 2022, in the case of the first tranche of the placement, and February 13, 2022, in the case of the final tranche. In connection with closing of the final tranche of the placement, the Company paid finders’ fees totaling $135,600 and issued a total of 1,899,047 finders’ warrants. Each finders’ warrant is exercisable into one common share of the Company at a price of $0.07 until October 12, 2024.

The placement included participation by insiders of the Company in the aggregate amount of 28,714,285 NFT Units and 266,666 FT Units. The participation in the placement by these insiders constitutes a related party transaction within the meaning of Policy 5.9 of the TSX Venture Exchange and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). In connection with the participation by the insiders, the Company relied upon the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of the participation did not exceed twenty-five percent of the market capitalization of the Company (as determined under MI 61-101).

About Azincourt Energy Corp.

Azincourt Energy is a Canadian-based resource company specializing in the strategic acquisition, exploration, and development of alternative energy/fuel projects, including uranium, lithium, and other critical clean energy elements. The Company is currently active at its majority controlled joint venture East Preston uranium project in the Athabasca Basin, Saskatchewan, Canada, and the Escalera Group uranium-lithium project located on the Picotani Plateau in southeastern Peru.

ON BEHALF OF THE BOARD OF AZINCOURT ENERGY CORP.

“Alex Klenman”
Alex Klenman, President & CEO

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking statements”, including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Azincourt. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially.

For further information please contact:

Alex Klenman, President & CEO
Tel: 604-638-8063
info@azincourtenergy.com

Azincourt Energy Corp.
1430 – 800 West Pender Street
Vancouver, BC V6C 2V6
www.azincourtenergy.com

VANCOUVER, BC, Oct. 12, 2021 /CNW/ – Trading resumes in:

Company: IsoEnergy Ltd.

TSX-Venture Symbol: ISO

All Issues: No

Resumption (ET): 1:23 PM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

View original content: http://www.newswire.ca/en/releases/archive/October2021/12/c5484.html

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Vancouver, British Columbia–(Newsfile Corp. – October 12, 2021) – ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to announce the closing on October 8, 2021 of the first tranche of a non-brokered private placement consisting of 17,894,735 non-flow-through units (the "NFT Units") and 10,992,381 flow-through units ("FT Units") of the Company for gross proceeds of $2,849,999.83 (the "Offering").

The NFT Units were sold at a price of $0.095 per NFT Unit, consisting of one common share and one common share purchase warrant. The FT Units were sold at a price of $0.105 per FT Unit consisting of one flow-through common share and one-half of one non-flow through common share purchase warrant. One common share purchase warrant from the NFT Units or one whole common share purchase warrant from the FT units entitles the holder to purchase one non-flow through common share of the Company at a price of $0.14 for a period expiring on October 8, 2023.

The securities issued in the Offering are subject to a hold period of four months plus one day from the closing date, expiring February 9, 2022. The proceeds from the sale of FT Units will be used for exploration programs on the Company's Saskatchewan uranium and gold properties and on its Ontario nickel and copper properties. The proceeds from the sale of NFT Units will be used for general working capital.

Finder's fees for the first tranche were paid as follows: Red Cloud Securities Inc., $135,992.94 in cash and 1,415,416 finder's warrants; Haywood Securities Inc., $8,749.98 in cash and 90,701 finder's warrants; Canaccord Genuity Corp., $6,555.50 in cash and 16,100 finder's warrants; Research Capital Corporation, $1,729.00 in cash and 18,200 finder's warrants; and Echelon Wealth Partners Inc., $1,102.50 in cash and 10,500 finder's warrants. Each finder's warrant is exercisable at a price of $0.095 and is exercisable until October 8, 2023.

The Company anticipates the closing of the second and final tranche of the private placement to occur on or before October 15, 2021.

About ALX

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 250,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX holds interests in a number of uranium exploration properties in northern Saskatchewan, including a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) operating exploration since 2016, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX Corporation and Orano Canada Inc.), and 100% interests in the Gibbons Creek Uranium Project, the Sabre Uranium Project, and the Javelin and McKenzie Lake Uranium Projects.

ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying Vee Nickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two option stages), and in the Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at, PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

"Warren Stanyer"

Warren Stanyer, CEO and Chairman

FORWARD-LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include economic, competitive, governmental, public health, environmental and technological factors that may affect the Company's operations, markets, products and share price. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Six Months Ended June 30, 2021, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward- looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99447

VANCOUVER, BC, Oct. 12, 2021 /CNW/ – The following issues have been halted by IIROC:

Company: IsoEnergy Ltd.

TSX-Venture Symbol: ISO

All Issues: No

Reason: Single Stock Circuit Breaker

Halt Time (ET): 13:18:52 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

View original content: http://www.newswire.ca/en/releases/archive/October2021/12/c5349.html

Energy Fuels (UUUU) closed the most recent trading day at $6.44, moving +1.42% from the previous trading session. This change outpaced the S&P 500's 0.69% loss on the day.

Coming into today, shares of the uranium and vanadium miner and developer had lost 8.24% in the past month. In that same time, the Basic Materials sector lost 4.01%, while the S&P 500 lost 2.58%.

Investors will be hoping for strength from UUUU as it approaches its next earnings release. On that day, UUUU is projected to report earnings of -$0.03 per share, which would represent year-over-year growth of 62.5%. Meanwhile, our latest consensus estimate is calling for revenue of $10.53 million, up 2049.39% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.21 per share and revenue of $18.38 million, which would represent changes of +8.7% and +1008.63%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for UUUU. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. UUUU is currently a Zacks Rank #3 (Hold).

The Mining – Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 69, which puts it in the top 28% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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Energy Fuels Inc (UUUU) : Free Stock Analysis Report
 
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If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. Speaking of which, we noticed some great changes in Anglo Pacific Group's (LON:APF) returns on capital, so let's have a look.

Understanding Return On Capital Employed (ROCE)

For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Anglo Pacific Group is:

Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets – Current Liabilities)

0.052 = US$27m ÷ (US$532m – US$20m) (Based on the trailing twelve months to June 2021).

So, Anglo Pacific Group has an ROCE of 5.2%. In absolute terms, that's a low return and it also under-performs the Metals and Mining industry average of 18%.

See our latest analysis for Anglo Pacific Group

In the above chart we have measured Anglo Pacific Group's prior ROCE against its prior performance, but the future is arguably more important. If you'd like to see what analysts are forecasting going forward, you should check out our free report for Anglo Pacific Group.

What Can We Tell From Anglo Pacific Group's ROCE Trend?

We're glad to see that ROCE is heading in the right direction, even if it is still low at the moment. The data shows that returns on capital have increased substantially over the last five years to 5.2%. Basically the business is earning more per dollar of capital invested and in addition to that, 93% more capital is being employed now too. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.

Our Take On Anglo Pacific Group's ROCE

A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Anglo Pacific Group has. And with a respectable 51% awarded to those who held the stock over the last five years, you could argue that these developments are starting to get the attention they deserve. In light of that, we think it's worth looking further into this stock because if Anglo Pacific Group can keep these trends up, it could have a bright future ahead.

One more thing to note, we've identified 2 warning signs with Anglo Pacific Group and understanding these should be part of your investment process.

For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

ALABAMA GRAPHITE PRODUCTS TO PURCHASE 90,000 SQ FT OF INDUSTRIAL SPACE ADJACENT TO KELLYTON SITE

CENTENNIAL, Colo., October 11, 2021–(BUSINESS WIRE)–Westwater Resources Inc. (NYSE American: WWR) ("Westwater" or the "Company"), a battery-grade, natural graphite development company, is pleased to announce that its Board of Directors today approved expenditures of $202 million to execute the construction plan for Phase I of the Coosa Graphite Project located in Kellyton, Alabama. Construction activities are expected to begin before the end of 2021.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211011005694/en/

Westwater Resources Inc. Coosa Graphite Project Site Plan (Graphic: Business Wire)

In addition, the Company’s Board of Directors approved the purchase of two buildings by its subsidiary, Alabama Graphite Products, LLC, that total 90,000 sq. ft. in size, to support the development of the Coosa Graphite Project. These buildings will be used for the Project’s administrative offices, laboratory, and warehousing space, and each are adjacent to the future processing plant. The purchase of these two buildings avoids the need for additional construction activities. The transactions are expected to close on or before October 14, 2021.

"With Westwater’s Board approval of the Project, we are proceeding directly to plant construction. Requests for proposals from contractors are in process, and construction is expected to start before the end of the year," said Chris Jones, President and CEO. "I am proud of this team’s efforts to bring this business plan a giant step closer to reality."

Westwater is an explorer and developer of US-based mineral resources essential to clean energy production in the United States. The Company plans to develop its Coosa Graphite Processing Facility (the "Project") to purify natural graphite concentrates and to produce battery ready graphite products. The Project will use state of the art technology and processing techniques to extract and refine graphite concentrates with 95-97% graphitic carbon (Cg) content to make Coated Spherical Purified Graphite ("CSPG") for Li-ion battery anodes.

PROJECT DEVELOPMENT PLAN

Phase I: In early 2023, the Project is expected to begin processing approximately 8,050 metric tons (mt) per year of graphite concentrate. Feedstock is anticipated to be supplied from outside sources until at least 2028. After processing and purification, and approximately 7,500 mt of two products would be available in the following quantities per year:

Phase II: Although not yet approved, the processing capacity of feedstock for the Project is planned to increase to approximately 35,200 mt per year in 2024. After processing and purification, approximately 32,400 mt of two products will be available in the following quantities:

PROJECT LOCATION

The property for the Project is located within the Lake Martin Regional Industrial Park, south of the town of Kellyton, in Coosa County, Alabama, and consists of approximately 73 acres. See our press release dated June 22, 2021. The nearest large population center is Alexander City, which lies approximately 5 miles southeast of the Project site.

PROPRIETARY TECHNOLOGY

Westwater has been working with third-party technology providers and equipment suppliers to develop the processes for purifying graphite to levels greater than 99.95% Cg and then processing that graphite into battery-grade CSPG. The result has been a unique, environmentally safe process utilizing relatively low temperatures and readily available industrial reagents. This process, for which WWR has made a patent application, is superior to processes used in China and elsewhere in terms of environmental safety. The Project, Phase I, is designed to process 8,050 metric tons per year of graphite.

COMMUNITY BENEFITS

Construction and operation of the proposed Coosa Graphite Processing Facility is expected to result in a positive effect on the socioeconomic characteristics of the regional area. The majority of beneficial effects would result from the employment of over 100 personnel once the Project is in operation.

PROJECT EXECUTION Summary

Underlying the Board’s decision is a definitive feasibility study (DFS) that was prepared by Samuel Engineering (SE) along with support from other contractors and Westwater personnel. In the DFS, SE developed a Level 2 execution schedule encompassing engineering, procurement, construction, and start-up of the first phase of the Coosa Graphite Processing Facility.

The critical path for plant construction and commissioning totals 17 months, supporting production in early 2023.

About Westwater Resources Inc.

Westwater Resources Inc. (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s primary project is the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. Forward looking statements include, among other things, statements concerning the construction and operation of the Company’s Coosa Graphite Processing Facility and costs and schedules associated with them. The Company cautions that there are certain factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Westwater’s Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information: (a) the Company’s ability to successfully construct and operate a commercial-scale plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19 and its potential impacts to the capital markets; (e) government regulation of the graphite industry and the vanadium industry; (f) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (g) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama and Colorado; (h) the ability of the Company to enter into and successfully close acquisitions or other material transactions; (i) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (j) new litigation or arbitration. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211011005694/en/

Contacts

Westwater Resources Inc.
Christopher M. Jones, President & CEO
Phone: 303.531.0480

Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Product Sales Contact:
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
Email: Sales@westwaterresources.net

Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
Email: Westwater@plrinvest.com

Study Scope Addresses Increased Customer Interest by Increasing Production Rates

CENTENNIAL, Colo., October 11, 2021–(BUSINESS WIRE)–Westwater Resources Inc. (NYSE American: WWR) ("Westwater" or the "Company"), a battery grade natural graphite development company, today is pleased to announce results from its Definitive Feasibility Study ("DFS") for its Coosa Graphite Project’s production facility that is planned for construction at a site located near Kellyton, Alabama. Alabama Graphite Products, LLC, a wholly owned subsidiary of WWR, will be the operator of this facility.

WWR is an explorer and developer of US-based mineral resources essential to clean energy production in the United States. The Company plans to develop its Coosa Graphite Processing Facility (the "Project") to purify natural graphite concentrates and to produce battery ready graphite products. The Project will use state of the art technology and processing techniques, for which the Company has applied for a patent, to extract and refine graphite concentrates with 95-97% graphitic carbon (Cg) content to make Coated Spherical Purified Graphite (ULTRA-CSPG™) for Lithium-ion batteries – critical components for electric vehicles.

Samuel Engineering, Inc. ("SE"), in conjunction with several technology and environmental services providers, namely Dorfner Analysenzentrum und Anlagenplanungs-gesellschaft mbH ("ANZAPLAN"), Harper International Corporation ("Harper"), Thompson Engineering, Inc. ("Thompson") and other technical consultants and service providers were contracted by Westwater to prepare a DFS to estimate the capital cost to design, procure, construct and commission the Project consisting of the Phase I facilities. The key objectives of the Project’s DFS were:

• Define the key components of the technology providers equipment packages, as well as the other requirements of the facility.

• Support the Project’s economic evaluation and assessment which was performed by Westwater.

• Identify and assess the processes and facilities that provides the most favorable return on investment.

• Establish a budget for financing and forecasting of the Project moving forward.

The overall capital cost of Phase I of the Project is estimated to be $202 million, staged over 17 months of construction.

"This has been a high-quality effort by the Westwater team, Samuel Engineering, Dorfner Anzaplan and Harper," said Chris Jones, President and CEO of Westwater. "The result is a first quality facility, well timed to take advantage of surging demand for Lithium-Ion batteries and the graphite that makes them work. The move to make these batteries in the US from domestic sources makes the Coosa Graphite Project even more important. We could not be more pleased with this effort and result."

The role of SE and the three third-party technology providers are noted below:

• Samuel Engineering – organize, coordinate, and develop the overall DFS, to interconnect the equipment designed and supplied by the three third technology providers, and provide any remaining balance of plant design and components required for a fully operational facility.

• ANZAPLAN – engineer and design of the chemical purification process, Spherical Purified Graphite ("SPG"), and sodium hydroxide recovery and wastewater treatment for the chemical purification process. The Purification process involves caustic roasting, caustic leaching, acidic leaching, and drying. SPG, an intermediate product that is later coated to make Coated Spherical Purified Graphite ("CSPG"), requires a staged milling operation consisting of size reduction (micronizing) milling and shaping (spheronizing).

• Harper – design and pricing for two (2) vertical furnaces used in the thermal purification process.

The DFS pertains to Phase I of the Project. Westwater plans to develop the Project site in two phases (Phases I and II). A plan and design for Phase II is in place at a pre-feasibility level ("PFS"), and economics are presented for both of the phases. A third phase, involving the development of the Coosa Graphite Deposit near the Kellyton site, is under consideration.

PROJECT DEVELOPMENT PLAN

Phase I: Beginning in early 2023, the Project is expected to begin processing approximately 8,050 metric tons (mt) per year of graphite concentrate. Feedstock is anticipated to be supplied from outside sources until at least 2028. After processing and purification, approximately 7,500 mt of two products would be available in the following quantities:

Phase II: The feedstock processing capacity of the Project is anticipated to increase to approximately 35,200 mt per year in 2024. Upon completion of Phase II, after processing and purification, approximately 32,400 mt of two products will be available in the following quantities:

PROJECT LOCATION

The property for the Project is located within the Lake Martin Regional Industrial Park, south of the town of Kellyton, in Coosa County, Alabama, and consists of approximately 73 acres. Please see our Press Release dated June 22, 2021, for more detail. The nearest large population center is Alexander City, which lies approximately 5 miles southeast of the Project site.

PROPRIETARY TECHNOLOGY

Westwater has been working with third-party technology providers and equipment suppliers to develop the processes for purifying graphite to 99.95% Cg and then processing that graphite into battery grade Coated Spherical Purified Graphite. The result has been a unique, environmentally safe process utilizing relatively low temperatures and readily available industrial reagents. Westwater believes that this process, for which WWR has made a patent application, is superior to processes used in China and elsewhere in terms of environmental safety. Phase I of the Project is designed to process 8,050 metric tons per year of graphite.

COMMUNITY BENEFITS

Construction and operation of the proposed Graphite Processing Facility is expected to result in a positive effect on the socioeconomic characteristics of the regional area. Westwater projects that the majority of beneficial effects will result from the employment of over 100 persons once the Project is in operation.

PROJECT EXECUTION SUMMARY

In the DFS, Samuel Engineering has developed a Level 2 execution schedule encompassing engineering, procurement, construction, and start-up of Phase I of the Project.

The total estimated timeframe for construction of Phase I is estimated to be 17 months, made up of the four overlapping components below:

• Detailed Design

• Procurement

• Construction

• Commissioning and Startup

ESTIMATE ACCURACY AND CONTINGENCY ANALYSIS

The estimate in the DFS has been developed to a level sufficient to assess/evaluate the Project’s concept, various development options and overall viability. After inclusion of the recommended contingency and excluding any scope changes, the capital cost estimate for Phase I is considered to have a level of accuracy in the range of -10% to +15%.

Contingency is an allowance to cover unforeseen costs that may arise during the execution of the Project, which reside within the scope-of-work but cannot be explicitly defined or described at the time of the estimate due to lack of more detailed information. It is assumed that contingency will be spent; however, it does not cover any Project scope changes or exclusions.

Within the DFS, the contingency allowance has been assessed by considering the quality of scope definition, takeoff quantities, and pricing obtained for each major commodity of the estimate. Each component is assigned a percentage rate based on the best judgment of the project team.

In recognition of the degree of detail on which the estimate is based, a contingency of 14.6% has been included in the capital cost estimate for both Phase I and II.

ECONOMIC EVALUATION

The economic viability of the Project was evaluated by developing an Economic Model ("Model"). The Model was prepared on an annual basis for the project duration which includes Phase I and Phase II of the Project.

• Phase I consists of the Coosa plant producing 3,700 mt per year of CSPG, the subject of the DFS.

• Phase II consists of an expanded plant producing 15,800 mt per year of CSPG (PFS Level estimate)

The Model incorporated the annual figures for the feed purchase, operating costs, revenues from the sale of graphite products, as well as the capital expenditures. Based on the input parameters, the Model calculates the annual pre-tax cash flows, Net-Present-Value (NPV) of the project based on 8% discount rate (NPV-8), and the Internal Rate of Return (IRR). Two cases were evaluated by the Model. In the first case, the Model only included the Phase I of the project. In the second case, the overall project economics were evaluated by adding Phase II to the Model. The results for both cases are summarized below:

Case I: Phase I only – This case assumes the Project has a capacity of using 8,050 mt natural graphite feedstock to produce approximately 3,700 mt CSPG per year will operate for 35 years.

• Project Duration: 35 years

• Pre-Tax NPV-8 percent: $119 million

• IRR: 15%

• Annual Pre-Tax Cash Flow (After the year 2025): $24 million per year

• Project Pre-Tax Cash Flow: $656 million.

Case II: Phase I and II. The Model assumes that the capacity of plant will increase to 35,200 mt of feedstock to produce 15,800 mt per year of CSPG product. Also assumed are $464 million in Capital Costs for Phase II.

• Project Duration: 35 years

• Pre-Tax NPV-8 percent: $767 million

• IRR: 20.5%

• Average Annual Pre-Tax Cash Flow (After the year 2025): $129 million

• Project Pre-Tax Cash Flow: $3.7 billion

About Westwater Resources Inc.

Westwater Resources Inc. (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s primary project is the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.

Cautionary Statement Regarding Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," "scheduled," and other similar words. Forward looking statements include, among other things, statements concerning the construction and operation of the Company’s Coosa Graphite Project production facility and the costs and schedules associated with them. The Company cautions that there are certain factors that could cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of the Company; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Westwater’s Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent securities filings, could cause actual results to differ materially from management expectations as suggested by such forward-looking information:

(a) the Company’s ability to successfully construct and operate a commercial-scale plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19 and its potential impacts to the capital markets; (e) government regulation of the graphite industry and the vanadium industry; (f) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (g) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama and Colorado; (h) the ability of the Company to enter into and successfully close acquisitions or other material transactions; (i) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (j) new litigation or arbitration; Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211011005691/en/

Contacts

Westwater Resources Inc.
Christopher M. Jones, President & CEO
Phone: 303.531.0480

Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: Info@WestwaterResources.net

Product Sales Contact:
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
Email: Sales@westwaterresources.net

Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
Email: Westwater@plrinvest.com