Acquisition Multiple Past Producing Mines And Deposits In Lisbon Valley

VANCOUVER - Sassy Gold Corp. reported on its ongoing uranium property acquisitions in the Western United States, strategically positioning Sassy as the most dominant landholder with multiple past producing mines and deposits in Lisbon Valley, Utah, historically the state's most productive uranium district.

Sassy's binding LOI's now include a Utah state lease contiguous to the claims comprising the Central Lisbon Project (without change to the terms of the Transaction). The total Lisbon Valley land package to be acquired by Sassy (North Lisbon and Central Lisbon) encompasses approximately two-thirds of this entire past producing district (16 miles long and up to 1 mile wide) which was responsible for 78 million pounds of uranium production between 1948 and 1988, 9% of total U.S. domestic uranium produced during that period, mostly from the lower member (Moss Back) of the Chinle Formation. Significant new discovery potential exists in the underlying and under-explored Cutler Formation which hosts massive sandstone units and was determined to be an economic host in the late 1970’s. Except for the Jackpile-Paquate area in Cibola County, New Mexico, the Lisbon Valley in Utah has produced more uranium than any area of similar size in the United States. In addition to uranium, more than 24 million pounds of vanadium oxide (V2O5) was associated with some of the ores, especially in the central and southern parts of Lisbon Valley.

Mark Scott, President and CEO, said, "We are proceeding toward completion of the definitive agreement announced March 1. Utah is one of America's most friendly and dynamic jurisdictions for business and also features the country's only operating conventional uranium mill, Energy Fuels' White Mesa. Not only is the Independence Property permitted for small-scale production, but this deal gives us dominance in the critical Lisbon Valley District where there is exceptional exploration upside. We're assembling a team with the ability to unlock the value of these assets, highlighted by 14 past producing properties, and leverage the opportunity for Sassy shareholders."