REG - Metals One PLC - Phase 1 Uranium Exploration Programme Initiated

Metals OneAnnouncement

22/05/2025 07:00

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RNS Number : 6826J  Metals One PLC  22 May 2025

22 May 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Phase 1 Uranium Exploration Programme Initiated, USA

 

Phase 1 exploration initiated at uranium projects targeting essential minerals
for U.S. energy security

 

Further to the 1 May 2025 announcement of the execution of a Share Purchase
Agreement in respect of the acquisition of uranium and vanadium exploration
projects in the USA (the "Acquisition"), Metals One (AIM: MET1), a minerals
exploration and development company, is pleased to confirm the initiation of
its Phase 1 uranium exploration programmes in Colorado and Wyoming, USA.

 

The Company has agreed to begin exploration work in anticipation of completion
of the Acquisition, including award of the 10-year exploration leases, within
the next week or so 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.

 

Highlights

 

·    Exploration Initiatives: Phase 1 exploration work has commenced at
the Uravan Belt Uranium-Vanadium Project, Colorado ("Uravan") targeting
critical resources essential for U.S. energy security and clean energy
transition. Work will also commence at Squaw Creek Uranium Project, Wyoming
("Squaw Creek") upon finalisation of permitting

 

·    Historical and Strategic Importance: The projects are located in
historically significant uranium mining districts in Wyoming and Colorado,
positioning Metals One to contribute to U.S. strategic minerals initiatives

 

Phase 1 exploration programme - Uravan

 

The Uravan exploration programme, now underway, comprises:

 

·    Reconnaissance prospecting of historical workings

·    Geological mapping, surface sampling, and relocation of historical
mine sites

·    Compilation and assessment of historical regional data

·    A detailed ground-based geophysical survey utilising a Radiation
Solutions RS-125 spectral scintillometer for radiation measurement

 

Uravan consists of 59 claims (~490 ha) near the historic Buckhorn Mine, within
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.

 

Phase 1 exploration programme - Squaw Creek

 

Upon completion of necessary permitting, Squaw Creek exploration activities
will include:

 

·    Comprehensive review of historical data on regional water wells and
uranium exploration wells, identifying gamma signatures indicative of uranium
mineralisation

·    Ground-based grid geophysical surveys using the Radiation Solutions
RS-125 spectral scintillometer

 

Squaw Creek comprises 53 claims (~430 ha) in Wyoming's Shirley Basin,
recognised for in situ recovery ("ISR") amenable uranium deposits. Historical
gamma ray well logs report significant uranium readings of 1,500 CPS at a
depth of 330 feet. The project's strategic location near historical uranium
mines and TerraPower's next-generation nuclear reactor project highlights its
critical importance to U.S. nuclear energy objectives.

 

Craig Moulton, Chair of Metals One, commented:

 

"The initiation of our Phase 1 exploration programme represents an important
milestone as we advance these strategically significant uranium and vanadium
projects in the United States. These initiatives underscore our commitment to
supporting the U.S. clean energy and national security objectives through the
discovery and development of critical domestic mineral resources. We look
forward to providing further updates as we progress exploration activities."

 

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/)

 SI Capital Limited (Joint Broker)                           +44 (0)14 8341 3500

 Nick Emerson

 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 exploration and M&A strategy, underpinned by the Western World's
urgent need for reliably and responsibly sourced raw materials such as copper,
nickel, cobalt, zinc, uranium and vanadium - all of which are vital to the
clean energy transition.

 

Our Northern Europe portfolio comprises copper, nickel, cobalt and zinc
projects in Finland and Norway, including a 57.1 Mt nickel-copper-cobalt-zinc
Inferred Resource adjacent to one of Europe's largest nickel producers, aiming
to help meet Europe's demand for strategic minerals sourced directly from
within the continent.

 

Our North America portfolio is expected to comprise uranium and vanadium
exploration projects (subject to completion of acquisition) in prolific and
historical U.S. uranium mining regions, targeting critical minerals essential
for U.S. clean energy generation, grid storage, and energy security.

 

The potential acquisition of gold mining claims within the prolific Carlin
Gold Trend in Nevada, USA, if completed, would mark our entry into the gold
exploration sector and diversification of our portfolio of critical minerals
assets.

 

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

 

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/)

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

Nominated Adviser

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

 

 

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