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IW Business Bulletin – June 11, 2021

Second Drilling Program for Helium

On June 10, 2021, Royal Helium announced it will expand drilling in southern Saskatchewan, with plans for seven new wells at its Bengough, Griffin and Ogema blocks. This news comes on the heels of the company’s financing announcement two days earlier, raising $17.25 million.

“With the exceptional investor interest in the oversubscribed bought deal prospectus offering, Royal is in a position to execute on a large drilling and exploration program to expand on the success of its first 3 helium wells. Our program is specifically planned to accelerate the growth of the Company with the goal of quickly becoming a helium producer. Royal is at an exciting juncture in its development – looking toward helium production from its first 3 wells, developing the new discovery of 2.5 to 6 billion cubic feet (“BCF”) of helium in-place and accelerating growth with 7 new wells including an additional well specifically targeting the Regolith discovery zone,” said Andrew Davidson, Royal Helium president and CEO said.

Improved Water Infrastructure for Regina and Moose Jaw areas

The federal and provincial governments announced on June 8, 2021 that the Buffalo Pound Water Treatment Plant will receive $222.83 million in joint program funding to support its infrastructure rejuvenation project. The funding will upgrade the treatment plant, pump stations and reservoirs.

Northern Mining

Foran Mining announced June 8 that the company had identified six high priority targets at its McIlvenna Bay project near Flin Flon. Foran will continue its expansion of exploration activities into 2022.

Baselode Energy Corp. has started groundwork exploration on its Catharsis Uranium project in the Athabasca Basin area. The company currently controls 177,000 hectares for exploration.

Fission Uranium Corp. commenced a feasibility study for its PLS high-grade uranium project, also in the Athabasca Basin area. Believed to be one of the lowest-cost uranium mines in the world, phase one of the project commences this month with completion planned for early to mid-2022.

“The commencement of a Feasibility Study is a major milestone for Fission, and also for the emerging uranium district and its local communities in the Western Athabasca Basin of Saskatchewan, Canada. We have several important advantages heading into the Feasibility stage, including a Pre-Feasibility Study showcasing exceptional potential economics and minimal environmental footprint, extensive environmental data from years of baseline studies, and an unparalleled technical team,” said Ross McElroy, CEO for Fission.

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