Terra Clean Energy CORP. (“Terra” or the “Company”) (CSE: TCEC,OTC:TCEFF, OTCQB: TCEFF, FSE: C9O0) is pleased to announce that it has acquired 2,068 acres of new potential uranium exploration claims on 100 unpatented Bureau of Land Management (“BLM”) claims at a low cost, as well as the acquisition of three strategic Wyoming State Leases for 1,327 acres ground. The state leases and new claims, which are 100% owned by the company, add 3,395 hectares to Terra’s growing uranium exploration portfolio.
“We are very pleased to add this highly promising land in Wyoming, in close proximity to enCore Energy Corp’s Juniper Ridge uranium deposit,” said CEO Greg Cameron. “The newly acquired lands are located in a known uranium jurisdiction and there are numerous uranium occurrences, with the highest frequency being 0.375% U3O8.”
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Figure 1: Location overview of new claims in southern Wyoming
List of new claims:
The company has directly staked 100 non-proprietary BLM Lode Mining claims (being Wyoming BLM claim numbers WY106774346 – WY106774445).
The company also acquired 3 Wyoming State Leases (being lease numbers 0-43951, 0-43952 and 0-43953). To acquire these leases, the Company will be required to make cash payments in the aggregate amount of US$45,000 (with US$10,000 due within five (5) business days, US$15,000 due on or before December 1, 2026 and US$20,000 due before December 1, 2027). In addition, the Company is required to pay the state’s maintenance costs while making the cash payments to acquire the leases.
The acquired site is located along the southern flank of the Washakie Basin. The Washakie Basin is a major syncline that forms a topographic plateau south of Interstate 80 and west of State Highway 789 in the greater Green River Basin in Wyoming. The Washakie Basin is a structural low where sedimentary rocks accumulate and host uranium mineralization relevant to mining projects.
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Figure 2: Washakie Basin with new claims and state leases on the southern flank. Baggs, Wyoming is located in the southeastern corner of the map.
The area underlies the Miocene-aged Browns Park Formation, consisting of light gray to pale yellow tufa-like sandstones, sandy tuffs, conglomerates, and quartzite. The Browns Park Formation has long been recognized as favorable for sandstone-hosted uranium deposits. Conventional mining has previously been conducted 75 km east of the project area, in the Poison Basin area, west of the town of Baggs, Wyoming, where a 6.13 M pound U3O8 deposit is located. Approximately 90 miles south of its newly acquired properties in Meeker, Colorado, Homeland Uranium Corp. is developing. their Coyote Basin Uranium Project, which contains a significant historic resource.
The plotted ground includes two historic uranium occurrences occurring in limonite-altered fractured sandstone. Uranium mineralization was not visible, but samples from prospecting wells returned values of 0.375%, 0.083% and 0.058% U3O8. (Morris and Stanley, 1982) It appears that not much work has been done in the area since the mid-1980s.
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Figure 3: Topographic geological map with staked claims in red and state leases in blue. Light brown is the Browns Park Formation with red dots showing identified uranium occurrences.
“We are excited to add land in Wyoming to our portfolio of uranium properties,” said Trevor Perkins, VP Exploration for Terra. “The Browns Park Formation is a known host of sandstone uranium deposits with historic production. We are excited to see where the uranium occurrences we have plotted may lead us,” Mr. Perkins continued.
About Terra Clean Energy Corp.
Terra Clean Energy Corp. is a Canadian-based uranium exploration and development company. The company is currently developing the South Falcon East uranium project, which contains an inferred uranium resource valued at 6.96 million pounds within the Fraser Lakes B Deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
ON BEHALF OF THE BOARD OF Terra Clean Energy CORP.
“Greg Cameron”
Greg Cameron, CEO
Qualified person
The technical information contained in this press release has been prepared in accordance with the Canadian regulatory requirements set forth in National Instrument 43-101, reviewed and approved on behalf of the Company by C. Trevor Perkins, P.Geo., Company Vice President Exploration and a Qualified Person as defined by National Instrument 43-101.
*The historic resource is described in the South Falcon East Property Technical Report filed on sedarplus.ca on February 9, 2023. The Company does not consider the resource to be current and has not completed sufficient work to classify the resource as a current mineral resource. Although the company does not consider the historical source to be current, it does believe that the work performed is reliable and that the information may be useful to readers.
Morris, AV, and Stanley, DR, 1982, National Uranium Resource Evaluation, Rock Springs quadrangle, Wyoming and Colorado: Morris & Warchola, Casper, Wyo., US Department of Energy, Grand Junction, Colo., PGJ/F-080(82), 42 p.
Forward-looking information
This press release contains certain statements that may be deemed “forward-looking statements.” Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “could”, “may”, “could” or “should” occur. Forward-looking statements may include, without limitation, statements regarding the Company’s planned exploration activities on properties and the potential development of mineral resources and mineral reserves that may or may not occur. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those expressed in the forward-looking statements. Such material risks and uncertainties include, but are not limited to: industry competition; actual results of ongoing exploration activities; environmental risks; changes in project parameters as plans are further refined; future price of raw materials; the failure of equipment or processes to operate as expected; accidents and other risks of the mining industry; delays in obtaining approvals or financing; risks associated with indebtedness and the servicing of such indebtedness; as well as the factors, risks and uncertainties identified and reported in the Company’s public filings under the Company’s SEDAR+ profile atwww.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are made as of the date hereof and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For more information please contact:
Greg Cameron, CEO
info@tcec.energy
416-277-6174
Terra Clean Energy Corp
1133 Melville Street, Suite 2700
Vancouver, BC V6E 4E5
www.tcec.energy
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