PEA For The New Mexico Cebolleta Uranium Project

TORONTO – Premier American Uranium Inc. (PUR) reported on the Preliminary Economic Assessment (PEA) for the Cebolleta Uranium Project in New Mexico. The PEA highlights the potential for a large-scale, long-life, low-capex uranium project with leverage to rising uranium prices. The PEA contemplates a heap leach strategy that produces a uranium-loaded resin that would be suitable for off-site processing at multiple under-utilized licensed domestic in-Situ Recovery (ISR) central processing plants, enabling potential development without reliance on legacy conventional mills. Preliminary economics are believed to have strong potential to be enhanced near-term with advanced metallurgical testing and process optimization.
The updated Mineral Resource Estimate (MRE) for Cebolleta increases Indicated Mineral Resources by 1.7 Mlb eU3O8 (+9%) to 20.3 Mlb eU3O8 and increases Inferred Mineral Resources by 2.2 Mlb eU3O8 (+45%) to 7.0 Mlb eU3O8, compared to the previous technical report on the Project. The updated MRE positions Cebolleta as one of the largest undeveloped uranium deposits in the western United States. The PEA and MRE are included in a Technical Report prepared in accordance with the requirements
Colin Healey, CEO and Director, said, “The PEA highlights that Cebolleta has the potential to be a cornerstone U.S. uranium project with a long mine life, low upfront capital, and strong leverage to higher uranium prices. Alongside the PEA, the updated MRE significantly increases project-wide resources, reflecting another successful deliverable for our team. With a clear pathway to optimizing embedded process assumptions through additional metallurgical studies, and exploration upside potential, we see an opportunity to rapidly de-risk and increase project value, as we advance Cebolleta toward potential development. We believe these next steps have the potential to position Cebolleta as a critical contributor to U.S. energy independence.”