PALM BEACH, Fla., Jan. 31, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - The next several years are predicted to produce a strong growth rate in the uranium ore global market. Uranium ore refers to the process of extraction of uranium ore from the ground. At the mine, uranium ore is extracted and treated to produce uranium oxide, which is then exported. The conversion of mined ore into uranium oxide (also known as yellowcake) often takes place on the mine site. The main types of uranium ore are granite-type uranium deposits, volcanic-type uranium deposits, sandstone-type uranium deposits, and carbonate-siliceous-pelitic rock-type uranium deposits. Carbonate-siliceous-pelitic rock-type uranium deposits are an important mineralization phenomenon outside the Red Bed. Both not only have the same source, same time, and same area but also have the relationships of cause and effect. The mining type includes underground mining and surface mining. A report from the Business Research Company said that: “The uranium ore market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.21 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to the nuclear power plant construction boom, the cold war and military demand, the Chernobyl and three-mile island incidents, global economic trends, and changes in the regulatory environment. The uranium ore market size is expected to see strong growth in the next few years. It will grow to $1.81 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to government policies and incentives, focus on carbon emission reduction, geopolitical stability, exploration and discovery of new uranium deposits, public perception and social acceptance. Major trends in the forecast period include advancements in nuclear technology, development of in-situ recovery (ISR) technology, focus on uranium enrichment technologies, increased scrutiny on environmental and social impact, and diversification of uranium end-use applications.” Active mining companies in the markets this week include Stallion Uranium Corp. (TSX-V: STUD) (OTCQB: STLNF), Uranium Energy Corp (NYSE American: UEC), FISSION URANIUM CORP. (OTCQX: FCUUF), Denison Mines Corp (NYSE American: DNN) (TSX: DML), NexGen Energy Ltd. (NYSE: NXE).

Business Research concluded: “Rising nuclear fuel consumption is expected to propel the growth of the uranium ore market going forward. Nuclear fuel refers to the material used in nuclear reactors to generate energy through nuclear fission. Uranium ore plays a crucial role in the production of nuclear fuel, which is used to generate electricity in nuclear power reactors. For instance, in September 2021, according to the Government Accountability Office, a US-based government agency, approximately 86,000 metric tons of used nuclear fuel from commercial reactors were being stored at 75 locations across the United States, with this quantity consistently increasing. Therefore, rising nuclear fuel consumption is driving the growth of the uranium ore market.”

Stallion Uranium Corp. (TSX-V: STUD) (OTCQB: STLNF) Engages Axiom Exploration for Aerial Gravity Survey over Gunter Lake Uranium Project - Stallion Uranium Corp. is pleased to announce that it has engaged Axiom Exploration Group to conduct an Aerial Gravity Survey over its Gunter Lake ("Gunter Lake” or the "Project") Uranium Project in the southwestern Athabasca Basin, Saskatchewan.

The aerial gravity survey commencing in February is a leading-edge technology that records the density changes in the underlying rocks. The data from the gravity survey, when paired with the existing data from the VTEM^TM Plus survey completed last year, will identify potential uranium alteration zones. The gravity survey data is an important determinant in the discovery of uranium mineralization and was one of the key geophysical surveys used during the discovery of NexGen Energy’s Arrow deposit.

“As we are readying to mobilize for Stallion’s maiden drill program on our Appaloosa target, the deployment of the gravity survey will continue to move other prospective target zones towards drill readiness. Stallion’s strategy is to pragmatically advance the highest priority target zones over our large prospective land package in the prolific southwestern Athabasca Basin,” stated Drew Zimmerman, CEO. “We are at an incredibly exciting time where each step we take on our roadmap continues to move Stallion closer to finding the next uranium discovery!”

Xplorer™NxT™ systems are mounted on dedicated AS350 B-series helicopters. The AS350 is ideal for the close terrain following required for geophysical surveys. The unique Starflex rotor system and ample power ensure that even the most stringent survey specifications are maintained. The system will utilize a strap-down laser ring gyro gravimeter collecting gravity data. CONTINUED… Read these full press releases and more news for Stallion Uranium at: https://stallionuranium.com/news/press-releases/

Other recent developments in the mining industry of note include:

Uranium Energy Corp (NYSE American: UEC) recently announced that the Company's Board of Directors has approved restarting uranium production at its fully permitted, and past producing, Christensen Ranch In-Situ Recovery ("ISR") operations in Wyoming. The recovered uranium will be processed at the fully operational Irigaray Central Processing Plant ("CPP") with a current licensed capacity of 2.5 million pounds U3O8 per year. The Irigaray CPP is the hub central to four fully permitted ISR projects in the Powder River Basin of Wyoming, including Christensen Ranch.

The first production is expected during August of this year and will be funded with existing cash on the Company's balance sheet. As UEC's strategy has been to remain 100% unhedged, produced uranium will be sold at prevailing spot market prices which was $106 per pound U3O8 as of January 15, 2024 as reported by UxC. In the coming months, the Company will provide additional information on the expected volumes for the first year of production. The key focus in the final pre-production phase before the August restart is hiring and training of additional operations personnel to augment UEC's experienced operations team to ensure a successful ramp-up of uranium production. New personnel are anticipated to be hired from local communities such as Buffalo, Gillette, Casper, Kaycee and Wright.

FISSION URANIUM CORP. (OTCQX: FCUUF) recently announced the 2024 project development program, advancing towards construction and operation of a mine and mill for its PLS high-grade uranium project in Saskatchewan, Canada. The 2024 program will include submission of the Environmental Impact Assessment ("EIS"), resource expansion, ongoing community engagement, completion of the Front End Engineering and Design "FEED" phase, and the commencement of Detailed Engineering.

The draft Environmental Impact Statement will be submitted to the Province of Saskatchewan in Q1, 2024. This is a culmination of all the data collected since 2013 and is an independent assessment of the potential environmental and socio-economic impacts of the PLS Project. The Feasibility Study (FS), released in January 2023, addressed many of the required mitigations and the updated mine plan from the FS has been incorporated into the EIS. Fission will maintain its longer term environmental data collection activities for the Project as it continues to gain information to support construction and operations activities.

Grounded Lithium Corp. recently announced that it has obtained consents, from shareholders holding over 50% of the outstanding shares of the Company, in respect of the previously announced definitive agreement (the "Agreement") with Denison Mines Corp (NYSE American: DNN) (TSX: DML). The Company has also received final approval from the TSX Venture Exchange to close the transaction.

With all approvals obtained, the earn-in option granted by the Agreement is effective as of January 24, 2024. As communicated in the January 16, 2024 press release, the 5% gross over riding royalty ("GORR") sold to Denison is now reduced to 2%. The GORR will be eliminated in its entirety on the earlier of: (i) the date that Denison completes the first earn-in option under the Agreement; and (ii) the date that is fifteen (15) months after date of the Agreement unless Denison elects to forfeit its rights to exercise an earn-in option prior thereto.

NexGen Energy Ltd. (NYSE: NXE) recently announced that it has updated its at-the-market equity program (the "ATM Program") to offer and sell up to C$500 million of common shares from treasury ("Common Shares").

Sales of Common Shares, if any, will be made pursuant to the terms of an equity distribution agreement dated December 11, 2023 (the "Sales Agreement") among the Company, Virtu ITG Canada Corp., as Canadian agent, and Virtu Americas, LLC, as U.S. agent (together, the "Agents"), on the TSX and/or the NYSE, and/or any other marketplace for the Common Shares in Canada or the United States or as otherwise agreed between the Agents and the Company. The volume and timing of sales under the ATM Program, if any, will be determined in the Company's sole discretion, and at the market price prevailing at the time of each sale, and, as a result, sale prices may vary.

The ATM Program is being made pursuant to a prospectus supplement dated December 11, 2023 (the "Prospectus Supplement") to the Company's final short form base shelf prospectus filed in all provinces and territories of Canada dated December 8, 2023 (the "Base Shelf Prospectus"), and pursuant to a prospectus supplement dated December 11, 2023 (the "U.S. Prospectus Supplement") to the Company's U.S. base prospectus (the "U.S. Base Prospectus") included in its registration statement on Form F-10 (the "Registration Statement") (File No. 333-275839) filed with the United States Securities and Exchange Commission on December 8, 2023 (collectively, the Prospectus Supplement, Base Shelf Prospectus, U.S. Prospectus Supplement, the U.S. Base Prospectus and Registration Statement, the "Offering Documents").

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