Welcome to CEO Insights. I'm Marilyn Duzman with Investing News Network. My guest today is Brooke Clemens, a CEO and president of Northshore Uranium, a fairly brand new public company listed in a TSXV. and we're going to be talking about his new company, but we're also going to be talking about what's been happening in the uranium market. Welcome, Brooke. Thank you, Mari Len. So, let's talk about, you know, being a brand new public of the day. If you want to just give us an overview of a


company, what are the three things that you'd like investors to go watch? Well, there's three main things. The first is that we're looking for uranium and we're looking for uranium in Saskatchewan's Aabasta basin which is the best jurisdiction in the world to be looking for uranium and the price of uranium is really starting to surge. So it's a really good time to start a new company be looking for uranium. Second uh we think we're a great investment opportunity. We have two properties. We


have a lot of very compelling expiration targets that we're working towards drilling and we feel we can add a lot of value there and in a market cap of about 5.5 million with about 2 million in the bank we feel like we're we present good value for the investor and third we've got a great team and great partnerships. I've been exploring in Northern Canada for over 25 years. Our directors and management have a lot of the experience and we have a group of founding investors that are very supportive of


the company. Right. So let's talk about those projects. You have two projects that at the bats have missing. You want to give us an overview of you know the the value propositions of those projects. Yeah, we have two projects west which is a partnership with Gem Oil and Falcon a partnership with Sky Harbor Resources. We've developed a number of compelling uranium targets on both the projects and we're going to be working to upgrade those targets and drill them and in 2022 we and as well as one of our partners


flew brand new airborne geohysical surveys on the carpet. So we have new data to work with that's going to allow us to have an edge over previous operators. The projects are in a very good neighborhood uh at the eastern margin of the Aphabet Basket Basin. Canada's two producing mines which believe it or not produce all the uranium of Canada and make Canada the second leading uranium producer in the world. That's Cigar Lake and MacArthur River operated by Chemical. They're in the neighborhood. And even more


importantly, there's two mills that process the ore from those mines. And those mines aren't going to be producing forever. And those mills will get hungry in the future. And a new discovery by somebody like us could be a real attractive to somebody like Candela. And our elite project is Falcon where we are working towards a drill program in Q1 2024 and also developing targets for programs after that. You mentioned you have an option agreement with Sky Harbor Resources for a portion of your Falcon property. Could


you talk a bit more about this uh agreement and what it means for your project? Yeah, we have an option agreement with Sky Harbor to earn an 80% interest in 11 of the 15 claims that constitute Falcon. Four of those claims we own 100%. And for us to earn an 80% interest in those 11 claims, we have to spend $5.3 million by October 31st, 2026. And that $5.3 million consists of cash, shares, and exploration work with 3.55 million of that being exploration work, money in the ground. And uh we also have


an option to earn the final 20% interest for 5 million catch, 5 million shares. And uh partnerships are a great way to do aspiration. it. We we acquired a property where there's a lot of data and we're also able to path into the expertise of the previous property owners and once we earn our 80% we'll have a choice. They can either participate and pay 20% of the bills or we can purchase the 20% right. You're in a very um interesting sector right now. Um, and there's a lot of activity. There's a lot of positive


that's happening in the Iranian market right now. I want to I wanted to see uh, you know, get your sort of insight on what's been happening in the Iranian market and what your um, you know, what it means for for your projects particularly in the Azabaska basin. Yeah. Uh, last week the price of uranium crossed $80 US a pound and that's the highest it's been since 2008. So everybody predicts that we're at the very beginning of a bullish cycle for uranium supply is somewhat constrained. You know some


people predict that there'll be a supply deficit of over 100 million pounds by 2025 but principally because under investment in production and geopolitical issues. So somebody that can make a discover a new discovery be really important. Uh right now we have 440 reactors operating globally. There's about 60 under construction in 17 countries including the US and there's about 440 planned or proposed. So all of those reactors are going to need a lot of uranium and new uranium deposits and that's where we come in


with our projects and the aabaska base. So you know with you mentioned with the supply uh deficit that's being anticipated predicted in terms of uranium as more nuclear uh power plants become operational or become built are you expecting this sort of uptrend with the uranium space um to be you know in the same level in the foreseeable future like is it something you know that we will see more of in the next or even for the next future? I really think that uh people there's an increasing awareness


that nuclear power there's increasing awareness and increasing acceptance that nuclear power really is the only grid power at scale that can help us reduce emissions. There are not many more rivers that can be damned to make hydroelect electric dam. I I see it's just the beginning that once we start getting more serious about addressing climate change, nuclear become a really big part of that equation. So Nan um what's can you talk about sort of the growth strategy for the company? I know you you're doing a lot of


information right now. What's the strategy moving forward to sort of um increase your Yeah. Uh we have very am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am am ambitious plans to become one of the leading uranium explorers in the aabasco basin and we think with our team and with the properties we have now we're well positioned to do that. Near term we're got to focus on our two properties. We believe there's a lot of great targets


set, a lot of targets to test, a lot of work to do. But a little bit longer term, we are going to be looking at new property acquisitions and maybe potential alliances with like-minded companies. And you know, the Sky Harbor deal that we just talked about is kind of an example of that strategy. Uh we did that deal with them five months ago when we were a private company 5 months before our IPO. And uh doing that deal with Sky Harbor, we acquired 43,000 more hectares adjacent to our existing fault


and property. So that expanded our property greatly and increased our value and we did that 5 months ago when we were still a private company. So when the investors when investors are you know considering a company for potential investment opportunity they look at their they always look at sort of the company's management team you maybe this is a good time for you to sort of provide an overview of your background in the in your career in the resource sector and some highlights of all the management um me the members of


your management team. Hit I I' I'm the CEO and the leader of the company and I've been involved with exploration projects in northern Canada and jurisdiction similar to the Aabaska basin for 25 years. So I've seen all the challenges that remote exploration and community engagement and everything offer and so I'm well positioned to lead the company. I most of my career I've spent in diamonds. Uh I started after graduating from the University of Arizona with a masters in economic


geology. I started in the 80s and 90s looking for diamonds and gold in the United States. In 1998, I came to Canada where I joined Ashton mining of Canada and after that paragine diamonds where I was focused on diamond exploration programs in the north and teams led by me made some significant discoveries in Quebec, none of it in Alberta. And I was actually given awards for some of those discoveries by the PDAC and the Exploration Association of British Columbombian. And one of our directors, Jimmy Tom, has a lot of uranium


experience. He's been involved with uranium exploration and development projects throughout the world. Our CFO, Dan O'Brien, has over 20 years of experience in the junior exploration sector. And finally, I do have to mention that over 50% of our shares are held by management, directors, and strategic investors. And that's a pretty good pos that's pretty good situation. I also want to emphasize that our in our IPO just a month ago, ins management directors and founding investors took down 14.3% of the shares.


of a real statement of commitment to the company long term. I want to ask you about recent news about NextGen Energy who also has a project in the Asabaska basin. They recently received Saskatchewan government's approval on their econ environmental impact assessment. What does this mean to your project and the other projects that are in the Aabaska basin? Well, that project, the next gen project arrow is at the western edge of the Aabaska basin on the other side, but it's a real positive for everybody


operating in the Aphabaska basin. And that was a new discovery quite a few years ago, and they've advanced it and delineated it and defined it, done a feasibility study, and I believe this is the first time in 20 years that the Saskatchewan government has approved a new uranium project. So I think it's really positive. It illustrates what exploration can do, what kind of value it can do, but it also illustrates how uh how mining friendly Saskatchewan's. Well, thanks for joining us and sharing


your insights today. Yeah, you're welcome. Thank you. And thanks everyone for watching. Join us again next time for another engaging conversation on CEO Insights. 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 time.