Highlights
• Aldershot has executed a Letter Agreement to sell its interests in the Sage Plain Project Area and the Arizona Strip Area to Energy Fuels Inc. (TSX – EFR).
Aldershot Resources Ltd. (TSX.V-ALZ) (“Aldershot” or the “Company”) through Royal USA Inc., a wholly owned subsidiary of Aldershot announces the execution of a Letter Agreement under which the Company has agreed in principal to sell its interests in the Sage Plain Project Area and the Arizona Strip Project Area to Energy Fuels Inc. (TSX – EFR) for US$750,000 in cash, forgiven debt, and 3,518,182 shares of Energy Fuels common stock.
The Company and Energy Fuels hold a number of properties in the Sage Plain Project area in a 50/50 joint venture called Colorado Plateau Partners LLC (“CPP”). Through CPP, Energy Fuels and Aldershot hold the Calliham Lease, the Crain Lease, four Utah State Leases, and 94 unpatented mining claims on BLM land. As has been previously reported, the Sage Plain Project as a whole contains 642,971 tons of measured and indicated resource at grades of 0.22% uranium (eU3O8) and 1.39% vanadium (V2O5), or 2,833,795 lbs. uranium and 17,829,289 lbs. vanadium.
Also included were Aldershot’s interests in a number of additional uranium properties in Arizona which are held by Arizona Strip Partners LLC, a second joint venture with Energy Fuels.
The above mentioned transaction is subject to shareholder and regulatory approval. The Company anticipates receiving shareholder approval, via written consent, and will update shareholders as events occur.
Mike Leidich, COO for Aldershot Resources Ltd. said, “The sale of these properties demonstrates that Aldershot can successfully locate and develop mineral properties. The funds generated for this sale will allow Aldershot to continue to develop our other mineral properties.”
About Royal USA Inc.
Aldershot’s wholly owned U.S. subsidiary, Royal USA Inc., is a mineral exploration and development company focused on mineral resources in North America.
Michael G. Leidich, P.E., is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this press release.
About Aldershot Resources Ltd.
Aldershot Resources, based in Vancouver, Canada, is a mineral exploration company with a portfolio of uranium properties in the United States, Australia and Zambia. Royal USA has a very active exploration program utilizing advance geophysical methods to be followed by extensive drilling campaigns. Shares of the Company are listed for trading on the TSX Venture Exchange. There are 156,492,975 shares outstanding.
FOR AND ON BEHALF OF THE BOARD
ALDERSHOT RESOURCES LTD
signed: “Michael G. Leidich, P.E.”
Michael G. Leidich
Chief Operating Officer
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and “Forward Looking Information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the British Columbia, Alberta and Ontario Securities Commissions.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aldershot Resources Ltd
Michael G. Leidich
Chief Operating Officer
(303) 955-5820
Email: [email protected] or [email protected]
Website: www.aldershotresources.com