Canamera Energy Metals Corp Acquires Interest in Wyoming Uranium Project

Canamera Energy Metals Corp has announced an option agreement to acquire up to a 90% interest in the Great Divide Basin uranium project in Wyoming. The project spans 2,080 acres across Fremont and Sweetwater counties. The region is known for its uranium production history and exploration activities.

The acquisition is structured in a three-stage earn-in process. Initially, Canamera will issue 500,000 shares and make cash payments totaling $130,000, alongside $750,000 in exploration expenditures, to gain a 51% interest. Further stages involve additional share issuance, cash payments, and explorations, culminating in a 90% stake.

The Great Divide Basin project is notable for its roll-front mineralization and historical drillings, aligning with Canamera's strategy to expand into uranium exploration in the U.S. A net smelter royalty of 1.25% applies to future production, and successful option exercise will lead to a joint venture for the project's advancement.