Bullish Runs Continues for Canada Mining Companies as Uranium Prices and Demand are Increasing

PALM BEACH, Fla., July 12, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - From cleaner energy to cancer treatments, Canadian mining companies have been producing the uranium that advances global needs through modern tech. For minerals and metals that come with strong environmental and social standards, Canada's approach is winning friends, followers, and customers. A move towards sustainable mining is a Canadian made, globally recognized sustainability program that supports mining companies in managing key environmental and social responsibilities, enabling mining companies to turn high-level commitments into action on the ground.  A recent article in Mined In Canada.ca said that: Towards Sustainable Mining (TSM) is a Canadian made, globally recognized sustainability program that supports mining companies in managing key environmental and social responsibilities, enabling mining companies to turn high-level commitments into action on the ground. "The mining sector will play a critical role in supplying the minerals and metals for batteries and other technologies needed in the clean economy and I am pleased to see the actions taken today to do that in a manner that is both responsible and sustainable", said the Honourable Jonathan Wilkinson, Minister of Natural Resources in Canada.  It continued: "Canada has all the critical minerals and ESG credentials needed to produce batteries for electric vehicles." said Katie Curran, Interim CEO, Invest in Canada. "Enhancing the ESG performance of our member companies beyond the word of the law is our ultimate goal with TSM. We want to do it right and, with TSM, we are taking the right first step", added Michael T. Toledo, Chairman of the Chamber of Mines of the Philippines. Active mining companies in the markets this week include Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC), Cameco (NYSE: CCJ) (TSX: CCO), Platinum Group Metals Ltd. (NYSE: PLG) (TSX: PTM), Baselode Energy Corp. (OTCQB: BSENF) (TSXV: FIND), NexGen Energy Ltd. (NYSE: NXE) (TSX: NXE).

Sustainable mining for many people sounds like an oxymoron. But there's ways to get at it, and it starts with conversation. My experience working in the TSM initiative is what I am proud of and I am grateful for the opportunity to continue to connect and to learn from each other and work for something as important as sustainable mining." Quoting Elizabeth May, MP Saanich-Gulf Islands & Former Green Party of Canada Leader.  "My community has been benefiting from the relationships we've developed over many years with companies operating in our territory. It has to come from being truthful, being trusted, and being transparent on the motives and initiatives that are being developed around the project. This is how communities can benefit." Said Glenn Nolan, VP Government Affairs, Noront Resources Ltd, Member of Missanabie Cree. The fact that uranium is now considered a "critical mineral" by the Canadian government confirms the importance of uranium and nuclear as an avenue for governments to meet their decarbonisation and energy security goals."

Traction Uranium Corp. (OTCQB: TRCTF) (CSE: TRAC) BREAKING NEWS: Traction Uranium Collaborates with SRC in Exploring the use of their In-Situ Recovery Technology at its Properties - Traction Uranium Corp. (the "Company" or "Traction"), a mineral exploration issuer focusing on the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region, is pleased to execute a Master Service Agreement with the Saskatchewan Research Council (SRC) in exploring ISR (in-situ recovery) uranium extraction projects to utilize their core flooding machine post discovery.

SRC is Canada's second largest research and technology organization. With 350 employees, $137 million in annual revenue and 75 years of experience, SRC provides services and products to its 1,500 clients in 27 countries around the world.

Lester Esteban, Chief Executive Officer, stated "SRC has been synonymous with mining in Saskatchewan and around the world for a very long time. Their knowledge and proficiency around mining and uranium is unrivaled and supports our pillars of exploration and expansion being supported by experience and expertise. Conventional mining involves removing mineralized rock from the ground, grinding, sorting and separating out what we want from what we don't. Solution mining otherwise known as ISL (in-situ leaching) or ISR (in-situ recovery) leaves the ore where it is in the ground, recovery is done by dissolving the minerals we want from the ore and pumping up the pregnant solution to the surface where we can recover it resulting in little disturbance and no tailings or waste rock generated. This provides low capital costs relative to conventional mining providing Traction a key technological partner post discovery and supports our plans for adding more properties in North America."

Technological Overview:  The uranium in-situ recovery process is proposed to mine deposits that are difficult to justify mine development due to either not enough uranium or too high of radiation. The technology can potentially utilize drilling and cracking to create passage for the lixiviant through the ore body to extract the uranium in-situ potentially utilizing the current freezing technology used at Cameco's Cigar Lake to encapsulate the orebody for the in-situ recovery.

The apparatus at SRC is called the Core Flooding Machine. It can stimulate the overburden pressure and pumping pressure during recovery. It uses drill cores and the evolution of permeability and uranium extraction as a function of time and amount of injection lixiviant are recorded and monitored. CONTINUED… Read this full press release and more news for Traction Uranium at:  https://www.financialnewsmedia.com/news-trac/  

Other recent developments in the mining industry of note include:

Cameco (NYSE: CCJ) (TSX: CCO) released its 2021 Environmental, Social, Governance (ESG) Report recently. The report illustrates Cameco's integration of ESG principles and practices in its overall strategy and day-to-day operations, including 2021 performance metrics and feature stories highlighting the company's ESG commitments and targets.

In this report, Cameco has incorporated the relevant ESG performance indicators issued by the Sustainability Accounting Standards Board (SASB) and continued its progress toward integrating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report can be downloaded or read online at www.cameco.com/esg.

Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) recently announced that it has filed a final short form base shelf prospectus (the "Shelf Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada and a corresponding registration statement on Form F-10 (the "Registration Statement") with the United States Securities and Exchange Commission ("SEC") under the Multijurisdictional Disclosure System established between Canada and the United States.

The Shelf Prospectus and the Registration Statement, when made effective, will enable the Company to make offerings of up to US$250 million of common shares, debt securities, warrants, subscription receipts or a combination thereof of the Company from time to time, separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering and as set out in an accompanying prospectus supplement, during the 25-month period that the Shelf Prospectus and Registration Statement remain effective.

Baselode Energy Corp. (OTCQB: BSENF) (TSXV: FIND) recently provided an update for the ongoing 20,000 metre diamond drilling program (the "Program") on the ACKIO high-grade uranium discovery ("ACKIO"), Hook project ("Hook"), Athabasca Basin area (the "Basin"), northern Saskatchewan (see Figure 1 and Table 1).

"Four of these reported drill holes now rank amongst the top six in composite radioactivity results, as Baselode continues to expand upon its ACKIO near-surface discoveries. These results demonstrate high levels of radioactivity but also considerable widths of mineralization. Additionally, results from AK22-063 suggest that we've discovered another near-surface zone. The remainder of the drill program will seek to delineate the extent of these near-surface zones as they remain open in all directions. These discoveries are very shallow, with mineralization beginning 25 metres from surface at the overburden contact, similar to the open-pit mines in the Athabasca's history, most notably Rabbit Lake, Cluff Lake, and Uranium City operations," said James Sykes, CEO, President and Director of Baselode.

NexGen Energy Ltd. (NYSE: NXE) (TSX: NXE) recently submitted a draft environmental impact statement (EIS) to the Saskatchewan Ministry of Environment (ENV) and the Canadian Nuclear Safety Commission (CNSC), a major milestone in the advancement of regulatory approvals for the 100-per-cent-owned Rook 1 project. The EIS submission included letters of support for the project from each of the Clearwater River Dene Nation (CRDN), Birch Narrows Dene Nation (BNDN) and Buffalo River Dene Nation (BRDN), which all have also endorsed the project through the execution of benefit agreements with NexGen covering the entire lifespan of the project.

The submission of the draft EIS follows the provincial and federal environmental assessment (EA) processes that commenced in April, 2019, following regulatory acceptance of NexGen's project description. The project, located in the uranium-rich district of Saskatchewan's southwestern Athabasca basin, includes underground and surface facilities to support the mining and processing of uranium ore from the Arrow deposit.

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