(TheNewswire)
June 4, 2023 – TheNewswire - Kiplin MetalsInc. (TSXV:KIP) (the “ Company ” or“ Kiplin ”) has observed a significant increase in activitysurrounding its Cluff Lake Road (CLR) uranium project. Located inSaskatchewan, the project sits in a highly prospective area withneighboring companies Orano Canada, Cameco Corp., Stallion DiscoveryCorp., and Canalaska Uranium Ltd.
One notable development is the proximity of the CLRproperty to F3 Uranium Corp.'s (formerly Fission 3.0) Paterson LakeNorth (PLN) project. In November 2022, F3 discovered the JR high-gradeuranium zone, and subsequent reports (refer to F3 press release datedFeb. 6, 2023) detailed intersections in drill hole PLN22-038,averaging 4.20 percent triuranium octoxide over 11.0 meters, includinga high-grade interval of 9.8 percent U3O8 over 4.5 meters. Thisdiscovery signifies the presence of a basement-hosted uranium depositin the Athabasca region, similar to Fission Uranium Corp.'s Triple Ruranium deposit.
Kiplin believes that the combination of multiple EM(electromagnetic) conductors, magnetic lineaments, radon gas, andradioactivity anomalies on the CLR property makes it a highlyprospective location for the discovery of a basement-hosted uraniumdeposit. The Company is excited about the potential of the project andthe opportunities it presents for future exploration anddevelopment.
“We are encouraged by the increased activity and thepresence of notable uranium projects in close proximity to our CluffLake Road Uranium project," said Dr. Peter Born, Director ofKiplin. "The recent discoveries in the region further underlinethe prospectivity of the Athabasca Basin, and we believe that our CLRproject holds significant potential for uncovering valuable uraniumdeposits.”
Kiplin remains committed to advancing its explorationefforts and leveraging the geological potential of the CLR project.The Company's management and technical team are actively engaged inevaluating the available data and formulating strategic plans forfuture exploration activities. Kiplin emphasizes that findings andobservations on neighbouring properties do not necessarily indicatethe presence of comparable mineralization or geologicalcharacteristics on the Company's properties.
Dr. Peter Born, PGeo, is the designated qualifiedperson as defined by National Instrument 43-101 and is responsiblefor, and has approved, the technical information contained in thisrelease.
About Kiplin Metals Inc.
Kiplin Metals Inc. is amineral exploration company. We create value for our shareholders byidentifying and developing highly prospective mineral explorationopportunities. Our strategy is to advance our projects from discoveryall the way to production. This vertically integrated strategy allowsKiplin Metals to achieve exceptional shareholder value through theentire life-cycle of the mining process.
CluffLake Road Uranium Project. Kiplin Metals has the right to earna one-hundred percent interest in the Cluff Lake Road Uranium Project(the “CLR Project”). The CLR Project covers ~531 ha in thesouthwestern Athabasca Basin in northern Saskatchewan, where severalnew discoveries, including the Arrow and Triple R Uranium depositshave been made. The CLR Project is 5 km east of the Cluff Lake Road(Hwy 955), which leads to the historic Cluff Lake Mine, whichhistorically produced approximately 62,000,000 lbs of yellowcakeuranium.
For further information, contact the Company at info@kiplinmetals.com or 604-622-1199 or visit the Company’s website at www.kiplinmetals.com .
On behalf of the Board,
Kiplin Metals Inc.
“Peter Born”
Director
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
This news release may include forward-lookingstatements that are subject to risks and uncertainties. All statementswithin, other than statements of historical fact, are to be consideredforward looking. Although the Company believes the expectationsexpressed in such forward-looking statements are based on reasonableassumptions, such statements are not guarantees of future performanceand actual results or developments may differ materially from those inforward-looking statements. There can be no assurances that suchstatements will prove accurate and, therefore, readers are advised torely on their own evaluation of such uncertainties. We do not assumeany obligation to update any forward-looking statements except asrequired under the applicable laws.
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