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 welcome to CEO insights I'm Marilyn dezman with Inn I'm speaking with Brook Clemens president and CEO of Northshore uranium hi Brooke good morning Marin L good to see you again thank you so last time we last uh spoke um since the last time we spoke the price of your ium has skyrocketed to uh it has passed $100 per pound how is this price trend impacting the uranium exploration sector and specifically I think has that has that impacted investments in the in the sector yeah it's really amazing how the

uranium price has risen in July it was $60 a pound late November $80 a pound and Friday it closed at$ 106 a pound I think uh the governments and the general public are starting to realize and accept that we're going to need a lot more nuclear power generation to reduce carbon emissions and address climate change properly and I think a big milestone in this recent runup was the cop 28 uh declaration in early December where over 20 countries signed on to a commitment to more than triple nuclear

power generation by 2050 that a lot of uranium's going to be required for that so we're going to need a lot more Supply and one of one of the big things the increase in price has done is it's grabbed the attention of a lot of people and people first they're grabbed by the price because it's quite dramatic and then some want to start looking deeper into the sector and then when they do that it attracts investors and really the increased attenion is really lit a fire under the

uranium expiration in mining sector kind of starting with producers like Cho whose stock has gone up over 50% since July and now we're starting to see uh Capital move down cap to exploration companies so I think that's a trend that's going to continue with more Capital being available to exploration companies and that Capital allows the exploration companies to do their programs and it allows companies like us new company to get started and get focused on the uranium sector uh Saskatchewan's Athabasca Bas in a tier

one jurisdiction for Uranium exploration mining is really seeing a lot of activity now lot of exploration projects move into development claim acquisition and even some merger and acquisition activity so let's talk about uh your you know specifically nure uranium what's your exploration a lands for Europe for 2024 well we have two properties at the Eastern margin of the Athabasca Basin totaling about 60,000 hectares Falcon and West barar and we think there's excellent potential on both of those

properties to make a significant uranium Discovery our main focus over the next 6 months is going to be our 55,000 hectare Falcon proper Falcon is located at the Southeastern margin of the athabaska Basin about 35 k east of the active key Lake uranium Mill key Lake Mill uh processes all the ore from the mathur river mine MacArthur River mine is one of two active uranium mines in Canada with cigar Lake being the other which is 70 kilometers to the North MacArthur river is not going to be able to provide feed to the key Lake

Mill forever so um when that happens I think a new high-grade uranium discovery near key Lake Mill will be really attractive to a company like Cho uh the area around our Falcon property is is seeing a lot of exploration activity two companies Bas load energy and 92 energy made significant Grassroots uranium discoveries in 2021 gmz and and AIO and uh they're continuing to to expand the mineralization by drilling right now and an example of merger and acquisition activity in the Basin uh early December AFA energy proposed the

acquisition of 92 energy in their gmz deposit so significant activity there that's very interesting AA energy is probably one of the largest claim holders in the Athabasca base and uh we have multiple untested uranium targets associated with electromagnetic or em conductors uranium is often associated with these em conductors and we're working to evaluate those targets and pinpoint the best spots to drill uh there's a lot of sniffs of uranium on the property we have two radioactive Boulder trains and two

uranium showings in outcrop that have not been fully explained so we think there's significant opportunity to make a new discovery we have excellent geophysical data we high resolution em surveys were flown in 2006 and 2007 and we also have new geophysical data that previous operators on the property did not have the benefit of the last real significant exploration on the property was in 2008 in 2022 norshore when we were a private company flew a gravity magnetic and radiometric survey over the property and

also that year Sky Harbor resources did as well so over 90% of the property is covered by that data our geophysical consultant Condor Consulting it's going through all the geophysical data line by line and trying to pinpoint the best places to drill in addition our q1 2024 drill program is just the start we have a lot of untested em conductors on the Falcon property and we're right now working through all that data to identify targets and we plan to go out in the field in the summer and work up

those targets and generate more drill targets one more thing is that we also have high hopes for our West Bear property 90 kilm to the Northeast where we think there's a lot of onta exploration potential as well so what's your funding strategy uh with all your exploration plans what's the funding strategy there having just done our first financing in November 23 where we raised $2.3 million we are fully funded for our near-term exploration activities and of course because it's a buoyant

sector we are always looking for opportunities to raise more money to fund our ambitious exploration plans so what makes if if you know if you're talking to if you meet a an investor right now what would you say to them about what makes Northshore a good investment opportunity at the moment well we are a new company with fresh ideas we bring energy and vitality to our exploration in an area well known for its uranium exploration pre uh potential we think our properties offer great opportunity

to for a new Discovery and a new discovery can create real value for investors we have a really tight share structure we have 36.8 million shares outstanding Founders and insiders own 45% of the stock and also participated to the tuna 14.3% in our initial financing so I think that shows long-term commitment to the company and we think it's great time for people to consider building a position we're just starting out and we think our targets offer Great Value potential so we're here at VC in Vancouver what is

the key message you'd like to convey to investors that are attending here well it looks like we're at the beginning of a real strong bull cycle for uranium and we a as a new company we think we offer great opportunity for investors to take advantage of with that and get in on the ground floor of a new company so watch Northshore uranium stay tuned and our winter drill program is just the beginning we have long-term ambitious goals to do a lot of exploration thanks for joining me today Brooke and good

luck to your um exploration work in 2024 okay thank you very much Mari and thanks everyone for watching join us again next time for another engaging conversation on CEO Insight if you like this video make sure you subscribe to our Channel and turn on notifications so you don't miss future updates and interviews see you next [Music] time