Under the terms of the property option agreement, Brades should earn $5m of staged exploration expenditures on or before 14 October 2016 in order to acquire up to a 50% interest in Clearwater West.
Brades CEO and president Brian Biles said, "This is a great opportunity to focus on a very attractive property that is not only in the world’s premier high-grade uranium district but is adjacent to Fission’s Patterson Lake South property – home to an incredible, high-grade discovery."
The acquisition is subject to the satisfaction of certain conditions precedent including TSX Venture Exchange approval.
Located adjacent to the south of Fission’s Patterson Lake South (PLS) joint venture property, Clearwater West comprises three contiguous claims totaling 11,835 hectares in the south-west area of the Athabasca basin.
