(TheNewswire)
October 27 th , 2022 – TheNewswire - Kiplin MetalsInc. (TSXV:KIP) (OTC:ALDVF) (the “ Company ” or“ Kiplin ”) welcomes the recent announcement (Tuesday, October25 th 2022) that Canada will provide nearly$1 billion (C$970 million) in financing to develop a grid-scale smallmodular reactor (SMR), a new nuclear technology touted as a key partof the country's plans to reduce emissions, Natural Resources MinisterJonathan Wilkinson.
According to the IAEA (International Atomic EnergyAgency) there are about 50 SMR designs and concepts globally. Most ofthem are in various developmental stages and some are claimed as beingnear-term deployable. Earlier this year, four provincial governments(Saskatchewan, Ontario, New Brunswick and Alberta) were pushing aheadwith a plan to develop nuclear power in Canada. Don Morgan, ministerresponsible for SaskPower in Saskatchewan, and his provincialcounterparts said the small-scale reactors are a good solution toproviding clean power in remote communities and to Alberta'soilsands.
Key highlights in the recent Federal governmentstatement include:
• The funding, offered as low-interestdebt from the Canada Infrastructure Bank's (CIB) pool earmarked forclean power investments, would go toward preparation work requiredprior to nuclear construction, including project design and sitepreparation.
• At the Tuesday announcement, OntarioPower Generation (OPG) CEO Ehren Cory revealed the company will beinvesting the funds so the SMR reactor can be built and fullyfunctional at the Darlington Nuclear Generating Station by 2029. Corywas joined by Ontario Minister of Energy, Todd Smith.
• Recognition that nuclear energy iscritical to the achievement of Canada's climate goals. Wilkinson saidat the Darlington Energy Complex in Clarington, Ontario, “Canada,like the rest of the G7, is targeting net-zero emissions by 2050. Thegovernment has an intermediate goal to cut emissions 40% to 45% below2005 levels by 2030. Nuclear power is one source that can help inreaching our climate targets while addressing growing futuredemand.”
• Once the SMR is completely built, OPGsays it will avoid about 740,000 tonnes of greenhouse gas emissionseach year -- roughly the equivalent of gas emissions from 160,000gas-powered cars.
Saskatchewan’s Athabasca Basin is Canada’s leadingproducer of uranium, with 90 per cent exported, and the remaining 10per cent fuelling nuclear reactors in Canada. Saskatchewan’s uraniumis responsible for powering approximately 1 in 20 homes in the UnitedStates (*). According to the 2021 Fraser Institute Annual Survey ofMining Companies, Saskatchewan has retained its #1 spot as the bestplace in Canada, and is the second-best jurisdiction globally, formining investment attractiveness.
Kiplin is well positioned in the Athabasca district,with the right to earn a 100-per-cent interest in the Cluff Lake Road(“CLR”) uranium project. The CLR project covers approximately 531ha in the southwestern Athabasca basin and is five km east of theCluff Lake Road (Hwy 955), which leads to the historic Cluff Lake mine, which historically produced approximately62 million pounds of yellowcake uranium. The CLR project is alsocompletely surrounded by Fission 3.0 Corp.'s high profile PatersonLake North (PLN) project.
Results from a recent completed exploration program(see Press Release Oct 5, 2022) on the CLR project will be announcedwhen assays are received.
"The Company welcomes the Federal governmentssupport for development and advancement of the small modular reactor(SMR) sector. SMR could play a significant role in reducing Canada’sfuture emissions and could be allow for energy independence of smallernorthern communities and enhance development of remote resourceprojects. Growth and resurgence in the nuclear sector will requireadditional uranium deposits and Kiplin is focused on exploration inthe uranium-rich Athabasca district”, states Director, Dr. PeterBorn.
*( https://www.saskatchewan.ca/business/investment-and-economic-development/key-economicsectors/energy#:~ :text=Saskatchewan%20is%20he%20world%27s%20leading%20supplier%20of%20uranium,1%20in%2020%20homes%20in%20the%20United%20States.)
Dr. Peter Born, P.Geo., is the designated qualifiedperson as defined by NationalInstrument 43-101 and is responsible for, andhas approved, the technical information contained in thisrelease.
About Kiplin Metals Inc.
Kiplin Metals Inc. is a mineral exploration company. We create value for ourshareholders by identifying and developing highly prospective mineralexploration opportunities. Our strategy is to advance our projectsfrom discovery all the way to production. This vertically integratedstrategy allows Kiplin Metals to achieve exceptional shareholder valuethrough the entire life-cycle of the mining process.
Cluff Lake Road UraniumProject. Kiplin Metals has the right to earn a one-hundred percent interest in the Cluff LakeRoad Uranium Project (the “CLR Project”). The CLR Project covers~531ha in the southwestern Athabasca Basin in northern Saskatchewan,where several new discoveries, including the Arrow and Tripe R Uraniumdeposits have been made. The CLR Project is 5km east of the Cluff LakeRoad (Hwy 955), which leads to the historic Cluff Lake Mine, whichhistorically produced approximately 62,000,000lbs of yellowcakeuranium.
Exxeter Gold Project covers an area of 715ha located in Val d’Or Quebec, one ofthe premier gold camps in the world which produced over 113.4M oz Auby the end of 2019. The project covers 3.8km of the Cadillac Tectoniczone, which is the principal geologic structure responsible for coldmineralization in the Val d’Or.
For further information, contact the Company at info@kiplinmetals.com , or visit theCompany’s website at www.kiplinmetals.com .
On behalf of the Board,
Kiplin Metals Inc.
For further information, contact the Company at604-622-1199.
On behalf of the Board ofDirectors,
“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 to rely on their own evaluation of suchuncertainties. We do not assume any obligation to update anyforward-looking statements except as required under the applicablelaws.
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