North Shore Uranium Secures Majority Stake in Rio Puerco Project

North Shore Uranium Ltd. has announced the signing of a binding term sheet with Resurrection Mining LLC to acquire up to 87.5% of the Rio Puerco uranium project in New Mexico. This strategic move aims to capitalize on the project's historical resource estimate of 6 million tonnes at an average grade of 0.09% eU3O8, translating to 11.4 million pounds of U3O8. Located in the Grants Uranium District, a hub for uranium in the U.S., the project benefits from substantial historical data, suggesting potential for cost-effective In-Situ Recovery mining.

The acquisition aligns with the U.S. government's recent push, initiated by President Trump's executive orders, to expand nuclear capacity and fortify the domestic nuclear supply chain. The staged earn-in structure legitimizes optimized exploration at the site, previously explored by Kerr-McGee in the 1970s. Rio Puerco offers a critical opportunity to verify and enhance past works, potentially enriching North Shore's portfolio in both the U.S. and Canadian jurisdictions, amid robust uranium market fundamentals.