North Shore Uranium Ltd., formerly Clover Leaf Capital Corp., has announced the closing of its qualifying transaction. The transaction is expected to increase the company’s exposure to the most active uranium exploration and development plays in Canada and increase the company’s focus on rapidly developing uranium exploration and production potential in areas such as the Athabasca Basin, the Great Divide Basin, the Northern Great Plains and Southwestern Saskatchewan.
The Qualifying Transaction involves the acquisition by North Shore Uranium Ltd. of a private Saskatchewan Company, Lloydminster Uranium Inc., which presently holds a controlling interest in the Roland Lake property in Northwest Saskatchewan. The property consists of 2,734 hectares of land in the Central Mineral Belt of Northern Saskatchewan, directly adjacent to the NW side of the margin of the Athabasca Basin, and is host to the Roland South Uranium Project.
North Shore Uranium has now obtained ownership of the property and will employ its scientific and technical expertise to identify and accelerate the development of uranium deposits and other related minerals on the property. The company will also use the results of the previously completed drilling program, generated from numerous mineral samples in the region, to guide future exploration.
The company assumes leadership in this venture with experience in uranium exploration and mining dating back to 1988. The newly formed leadership team is comprised of some of the most credited former members of mining, finance and investing consulting services in the industry.
North Shore Uranium Ltd. is looking forward to the exciting potential of this project. The company has now acquired ownership of an existing property situated at the edge of the Athabasca Basin, one of the world’s most prolific uranium-producing regions. In addition, the company will capitalize on its experienced team and scientific background to identify and capture economic uranium trends, while mitigating risk factors.
North Shore Uranium Ltd. looks to capitalize on uranium trends in Canada and the world stage to become a market leader in exploration and production of uranium and related minerals. This has been achieved through the acquisition of the Roland Lake property and its timeless future prospects of becoming a world-class uranium reserve.