(TheNewswire)
Vancouver, BC - TheNewswire - October 12, 2023 - Pegasus Resources Inc. (TSX-V:PEGA ) ( Frankfurt:OQS2 ) ( OTC:SLTFF) (the " Company " or " Pegasus ") is thrilled to announce the receipt of the Pine ChannelMineral Exploration Permit for Diamond Drilling from the SaskatchewanMinistry of Environment for the upcoming exploration program at itsPine Channel Uranium Project, situated in the Athabasca Basin regionof northern Saskatchewan. This pivotal step sets the stage for ourmaiden drill program at Pine Channel.
These permits, including Crown Land Work Authorization,Forest Product Permit, and Aquatic Habitat Protection Permit, comewith a set of conditions that aim to address concerns voiced by localFirst Nations communities. These conditions cover various aspects,including caribou protection, specific site locations, and impacts ontraditional land users. We are committed to maintaining an ongoingdialogue with these communities to prevent and mitigate concerns whilefostering open communication.
The approved permits enable us to carry out essentialwork, including the clearance of up to six land drill holes with padsnot exceeding 400m2 in size.
The Pine Channel Uranium property holds immensepromise, featuring shallow depths to the basement from the surface,historical exploration identifying conductive trends, and drillingthat discovered anomalous uranium. Previous work involved a groundradon and ground gravity survey. These methods have proven successfulin identifying exploration targets that have led to significanturanium discoveries around the Athabasca Basin.
Pegasus Resources expresses its gratitude to allstakeholders and the Ya’ thi Néné Lands and Resources (YNLR)office, representing northern communities and First Nations groups,for their cooperation and support. We are excited to embark on thisexploration phase and will ensure that all work is conductedresponsibly and in line with environmental preservation principles.Further updates on our progress will be provided as we moveforward.
About Pegasus Resources Inc.
Pegasus Resources Inc. is a diversified Junior CanadianMineral Exploration Company with a focus on uranium, gold, and basemetal properties in North America. The Company is also activelypursuing the right opportunity in other resources to enhanceshareholder value. For additional information, please visit theCompany at www.pegasusresourcesinc.com
On Behalf of the Board of Directors:
Christian Timmins
President, CEO and Director
Pegasus Resources Inc.
700 – 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-403-597-3410
X: https://twitter.com/MrChris_Timmins
X: https://twitter.com/pegasusresinc
E: info@pegasusresourcesinc.com
Neither the TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accept responsibility for the adequacy or accuracyof this release.
Forward Looking Statements
Statements included in this announcement, includingstatements concerning the Company's plans, intentions, andexpectations, which are not historical in nature are intended to be,and are hereby identified as, "forward-looking statements."Forward-looking statements may be identified by words including"anticipates," "believes," "intends,""estimates," "expects" and similar expressions.The Company cautions readers that forward-looking statements,including without limitation those relating to the Company's futureoperations and business prospects, are subject to certain risks anduncertainties that could cause actual results to differ materiallyfrom those indicated in the forward-looking statements.
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