GTI Resources Ltd (GTI or Company) is pleased to advise that it has entered into a binding term sheet agreement (Term Sheet) to acquire 100% of Logray Minerals Pty Ltd (Logray) (Acquisition), holder of -13,800 acres (-5,600 hectares) of underexplored mineral lode claims (Claims), abutting Rio Tinto's properties & adjacent to GTI's existing Great Divide Basin (GDB) projects, at Green Mountain in Wyoming, USA (the Properties).


Highlights:

  • Strategic acquisition of -13,800 acres of contiguous ISR uranium exploration claims abutting Rio Tinto's claims at Green Mountain WY, increases GTI land to -35,000 acres
  • Properties lie close to existing GTI claims, & adjacent to Energy Fuel's 30M1b1 Sheep
  • Mountain, Rio Tinto's Jackpot 2, Ur-Energy's Lost Soldier & UEC's Antelope deposits
  • GTI has material holdings in the district with plans to explore multiple roll fronts
  • $5m Placement to fund acquisition & accelerate Wyoming ISR strategy
  • New funds enable increased drilling on roll fronts in proximity to major U308 deposits
  • Recent drill program success & understanding of the conditions for successful ISR recovery in the GDB positions GTI to capitalise on the burgeoning uranium market

Historical Kerr McGee drill data and oil-well exploration drill logs confirm the presence of roll fronts & the Battle Springs formation which hosts neighbouring major uranium deposits. The Properties are located in close proximity to Energy Fuel's (EFR) 30M1b4 Sheep Mountain deposit (Indicated), Ur-Energy's (URE) Lost Soldier ISR deposit, UEC's (UEC) Antelope deposit and they abut Rio Tinto's (RIO) which hold the Big Eagle (past producing), Jackpot3, Desert View, Phase II, & Willow Creek deposits (Figure 1). The Claims lie south of Green Mountain, "5kms from GTI's existing Odin claim group & within 15km of GTI's Thor project where a successful maiden drill program was completed during May 2022.


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