REG - Metals One PLC - Acquisition of Squaw Creek Uranium Claims, USA

Metals OneAnnouncement

Mon 07:00

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RNS Number : 8271R  Metals One PLC  21 July 2025

21 July 2025

 

Metals One Plc

("Metals One" or the "Company")

 

Completion of Acquisition of Squaw Creek Uranium Claims, Wyoming, USA,

Issue of Equity

&

TVR

  Expands U.S. Uranium Portfolio to Advance Clean Energy Transition

 

Metals One (AIM: MET1), a minerals exploration and development company, is
pleased to announce the completion of its acquisition of the Squaw Creek
Claims (the "SQ Claims") in Carbon County, Wyoming, United States which hold
the Squaw Creek Uranium Project as originally announced on 24 April 2025. The
SQ Claims represent the Company's second uranium project in the U.S., and
complement the recently completed acquisition of the Uravan Uranium-Vanadium
Project in Colorado, as announced on 2 July 2025.

 

Highlights

 

·    Strategic Addition in Premier Uranium Jurisdiction: The SQ Claims
comprise 53 unpatented mining claims (~430 hectares) in Wyoming's Shirley
Basin, one of the most historically productive uranium regions in the U.S.,
with established ISR (In Situ Recovery) mining operations.

 

·    Proximal to Advanced Nuclear Infrastructure: Located near historical
uranium operations and TerraPower's next-generation nuclear reactor project,
the SQ Claims are strategically situated to support U.S. nuclear energy
security goals.

 

·    Phase 1 Exploration Underway: Initial geophysical surveys and surface
sampling are ongoing as part of the Company's Phase 1 uranium exploration
programme in the U.S., which includes both the Uravan and SQ projects.

 

Transaction Terms

 

Metals One has acquired 100% of the SQ Claims from the vendor, 1491434 B.C.
Ltd., under the terms of an asset purchase agreement. The consideration
comprises:

·    US$50,000 in cash; and

·    The issuance of 500,000 new ordinary shares in Metals One Plc at a
price equivalent to a 5% discount to the five-day volume-weighted average
price (VWAP) immediately prior to execution, being 19.0363 pence per share.

 

All necessary approvals have now been obtained, including the issue of the
10-year exploration lease, and the transaction is complete.

 

Strategic Rationale

 

The acquisition of the SQ Claims further consolidates Metals One's position in
the U.S. uranium sector, aligned with the Company's strategy to advance
critical mineral assets essential to the clean energy transition. The Shirley
Basin is recognised for its ISR-amenable uranium mineralisation and is home to
multiple historic production sites. With uranium demand forecast to rise amid
global nuclear energy expansion and increasing geopolitical focus on domestic
supply, the Company sees significant long-term value in these U.S.-based
assets.

 

Craig Moulton, Chair of Metals One, commented:

 

"We are pleased to have completed our second outright U.S. uranium acquisition
in the Shirley Basin, Wyoming, following our successful acquisition in
Colorado. This follows our entry into the Red Basin, New Mexico, via NovaCore
Inc last week also. We continue to build momentum with our North American
strategy and this positions us to advance exploration across three highly
prospective districts with strong historic uranium pedigree and near-term
exploration upside."

 

Admission to Trading and Total Voting Rights

 

Application will be made for the admission of the 500,000 consideration shares
to trading on AIM ("Admission"), expected to take effect at 8.00 a.m. on 25
July. Following Admission, the Company's issued share capital will consist of
368,647,750 ordinary shares with voting rights. The figure of 368,647,750 may
be used by shareholders for FCA's Disclosure Guidance and Transparency Rules
calculations.

 

Enquiries:

 

 Metals One Plc                                           info@metals-one.com (mailto:info@metals-one.com)

 Jonathan Owen, Chief Executive Officer                   +44 (0)20 7981 2576

 Craig Moulton, Chairman

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

 James Biddle / Roland Cornish

 Capital Plus Partners Limited (Joint Broker)             +44 (0)207 432 0501

 Jonathan Critchley

 Vigo Consulting (UK Investor Relations)                  ir.metalsone@vigoconsulting.com (mailto:ir.metalsone@vigoconsulting.com)

 Ben Simons / Kendall Hill / Anna Stacey                  +44 (0)20 7390 0230

 Fairfax Partners Inc (North America Investor Relations)  connect@fairfaxpartners.ca (mailto:connect@fairfaxpartners.ca)

                                                          +1 604 366 6277

 

About Metals One

 

Metals One is pursuing a strategic portfolio of critical and precious metals
projects(*) in low-risk jurisdictions, underpinned by the Western World's
urgent need for reliably and responsibly sourced raw materials, and record
high gold prices.

 

Our commodity exposure(*) includes gold, uranium, vanadium, copper, nickel,
cobalt, zinc, and platinum group metals.

 

Our 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 the USA, Finland and Norway.

 

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

 

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

 

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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