Saville Announces Uranium Asset Acquisition in Hornby Basin, Nunavut Territory

VANCOUVER, BC / ACCESSWIRE / August 16, 2024 / Saville Resources Inc. (TSXV:SRE)(FSE:S0J) announced it has entered into an agreement with 2362516 Ontario Inc. ("PrivCo") to acquire six mineral leases in the Hornby Basin, Nunavut Territory. These leases expand Saville's existing property portfolio.

The property, spanning approximately 6,201 hectares, was previously explored by Hornby Bay Exploration Ltd, which invested about $10 million in exploration efforts between 1996 and 2004. A technical report was completed in 2004. Saville will issue 12,500,000 Common Shares to PrivCo and its syndicate for the acquisition.

Closing of the transaction is pending customary conditions and regulatory approvals. Upon completion, Saville plans to evaluate the exploration and development potential of the new assets, with a possibility of targeting additional mineral exploration opportunities in the future.