REG - Metals One PLC - Updates from Uranium Exploration Programme, USA

Metals OneAnnouncement

25/06/2025 07:02

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RNS Number : 3354O  Metals One PLC  25 June 2025

25 June 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Further Updates from Uranium Exploration Programme, USA

 

 Uravan Uranium-Vanadium Exploration Update, Colorado

 

Phase 1 exploration advances at Uravan Uranium-Vanadium Project, Colorado,
with expanded survey coverage and geochemical sampling

 

Metals One Plc (AIM: MET1), a minerals exploration and development company, is
pleased to provide a further update on Phase 1 exploration activities at the
Uravan Uranium-Vanadium Project in Colorado ("Uravan" or the "Project") which
were initiated in May 2025.

 

As previously announced, the Company has begun 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.

 

Highlights

 

·    Expanded Phase 1 exploration programme now includes over 30km of
geophysical grid surveying

·   Mapping, sampling and analysis (as announced on 4 June 2025) is
continuing across historical workings, adits, and surface anomalies

·    Historical data analysed reveals uranium potential in both the
Morrison and Chinle Formations at the Project (as indicated in the 4 June 2025
announcement)

·      Rock samples have now been sent for analysis to certified labs in
Nevada

 

The Phase 1 exploration programme at Uravan has been significantly expanded to
incorporate a wider review area, extending from an initial one-mile radius to
three miles. This expansion is based on digital datasets from the U.S.
Geological Survey ("USGS") and other archived exploration data accessed
through the USGS Library in Colorado. As previously announced, the target
formations, primarily the Morrison Formation, are known to host
uranium-vanadium mineralisation within the Uravan Mineral Belt - the most
productive uranium district in U.S. history. This exploration programme
follows a similar approach to that at Squaw Creek noting the Company has
engaged the same exploration consultants on both projects.

 

Technical activities underway

 

The ground-based geophysical survey utilising a Radiation Solutions RS-125
spectral scintillometer that was initiated in June is in progress across the
current claim block and surrounding areas. To date, approximately 30km of grid
lines have been completed, with further lines planned as part of a regional
expansion strategy.

 

Additional Phase 1 work includes:

 

·      Reconnaissance prospecting

·      Detailed geological mapping of historic and structural features
(adits, faults, joint sets, pits)

·      Surface sampling of mine dumps and outcrops

·      Relocation and documentation of historical exploration features

Select grab samples, guided by mineralogy and radiometric anomalies, have now
been submitted to American Assay Laboratories in Sparks, Nevada, for uranium
and vanadium analysis.

 

Potential for deeper uranium mineralisation

 

As previously announced on 4 June 2025, in addition to mineralisation in the
Morrison Formation, historical USGS data suggests a potential second target
within the Chinle Formation, located approximately 1,200 feet below surface.
The Chinle Formation is recognised across the Colorado Plateau as a prolific
uranium host and will be investigated further in future exploration phases.

 

Uravan setting

 

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.

 

Next steps

 

The Phase 1 programme is designed to validate historical data and provide a
modern geologic and geophysical baseline ahead of a potential Phase 2 drilling
programme later in 2025. Further updates will be provided as results are
received and compiled.

 

Figure 1: Illustrative regional map showing Project

 

 

 

 

 

Enquiries:

 

 Metals One Plc                                              via Vigo Consulting

 Jonathan Owen, Chief Executive Officer                      IR.MetalsOne@vigoconsulting.com (mailto:IR.MetalsOne@vigoconsulting.com)

 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)

 Ben Simons / Kendall Hill / Anna Stacey                      IR.MetalsOne@vigoconsulting.com (mailto:IR.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:

 

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(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:
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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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