RCS - Metals One PLC - Phase 1 Uranium Exploration Programme Updates

Metals OneAnnouncement

04/06/2025 09:00

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RNS Number : 3861L  Metals One PLC  04 June 2025

4 June 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Updates from Phase 1 Uranium Exploration Programme, USA

 

First stage of fieldwork at Uravan Uranium-Vanadium Project, Colorado

 

Further to the 22 May 2025 announcement of the initiation of Phase 1 uranium
exploration in the USA, Metals One (AIM: MET1), a minerals exploration and
development company, is pleased to provide updates from the Uravan
Uranium-Vanadium Project in Colorado ("Uravan").

 

As previously announced, the Company has agreed to begin exploration work in
anticipation of completion of the acquisition of Uravan, including award of
the 10-year exploration leases, and will make a further announcement at that
point. Completion of the acquisition remains subject to various conditions as
outlined in the 24 April 2025 announcement.

 

The first stage of field activity, which is being led by a contract geologist,
followed the collection of digital data that is available online for the
property and surrounding area within a one-mile radius, including visiting the
US Geological Survey Library in Colorado. The Morrison Formation hosts the
uranium and vanadium in the Uravan area. The geologist has started with
mapping the basal layer of the Salt Wash Member of the Morrison Formation. The
mapping will include faults, joint-sets, historic drill holes, adits, pits,
prospects and roads. There is a potential for an additional deposit of uranium
in the Chinle Formation which is located approximately 1,200 feet below the
Morrison Formation. Historical data collected from the USGS Library may
indicate such a deposit at depth. The Chinle formation is famous for holding
some of the largest uranium deposits in the Colorado Plateau.

 

A geophysical survey was initiated with a set line and interval spacing using
a radiation solution spectral scintillometer. Grab samples were then collected
based on the mineralogy and scintillometer readings and are expected in due
course to be sent for analysis with American Assay located in Nevada.

 

Additional work on a regional survey for potential expansion of the current
claim block would include extending geophysical lines, onsite exploration for
potential ground, and research outside of the current claim block.

 

Uravan consists of 59 claims (~490 ha) near the historic Buckhorn Mine, in the
renowned Uravan Mineral Belt, historically the most productive
uranium-vanadium mining district in the U.S. Previous surface sampling
returned exceptionally high uranium grades, including assays up to 22,280 ppm
uranium (2.23% U₃O₈) and significant vanadium values.

 

The Company is pleased to provide a selection of images from the first stage
of fieldwork.

 

 Figure 1: A selection of photographs from the first stage of fieldwork at
 Uravan, Colorado

 

 

 

 

 

Enquiries:

 

 Metals One Plc                                              via Vigo Consulting

 Jonathan Owen, Chief Executive Officer                      +44 (0)20 7390 0234

 Craig Moulton, Chairman

 Beaumont Cornish Limited (Nominated Adviser)                +44 (0)20 7628 3396

 James Biddle / Roland Cornish

 www.beaumontcornish.com (http://www.beaumontcornish.com/)

 Capital Plus Partners Limited (Joint Broker)                +44 (0)20 3821 6169

 Jonathan Critchley

 https://www.capplus.co.uk/ (https://www.capplus.co.uk/)

 Vigo Consulting (UK Investor Relations)                     +44 (0)20 7390 0234

 Ben Simons / Kendall Hill / Anna Stacey

 metalsone@vigoconsulting.com

 Fairfax Partners Inc (North America Investor Relations)     +1 604 366 6277

 connect@fairfaxpartners.ca

 

About Metals One

 

The race for critical minerals is on. Metals One is pursuing a critical
minerals and gold exploration and M&A strategy, in low-risk jurisdictions,
underpinned by the Western World's urgent need for reliably and responsibly
sourced raw materials, and record high gold prices.

 

In addition to gold, our commodity exposure(*) includes copper, nickel,
cobalt, zinc, uranium, vanadium, and platinum group metals - all of which are
vital to the clean energy transition.

 

Metals One's most advanced project is the Black Schist Project in Finland with
a 57.1 Mt nickel-copper-cobalt-zinc JORC Inferred Resource adjacent to one of
Europe's largest nickel producers.

 

Our project portfolio(*) spans Finland, Norway, and the USA.

 

Metals One's shares are listed on the London Stock Exchange's AIM Market
(MET1).

 

(*)Includes projects for which acquisition terms have been agreed

 

Follow us on social media:

 

LinkedIn: https://www.linkedin.com/company/metals-one-plc/
(https://www.linkedin.com/company/metals-one-plc/)

X: https://x.com/metals_one_PLC (https://x.com/metals_one_PLC)

 

Subscribe to our news alert service on the Investors page of our website at:
https://metals-one.com (https://metals-one.com/)

 

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