The property is located 15km south of the Cameco/AREVA Key Lake Uranium Processing facility on the eastern side of Saskatchewan’s Athabasca Basin.
Under the acquisition terms, Forum will acquire a 100% right, title and interest in and to the Highrock South property by paying $2,500 in cash and issuing 25,000 common shares of the company at a deemed value of $0.30 per share, in addition to granting a 2% NSR to the vendor.
The deal is subject to approval by the TSX Venture Exchange.
Forum said that the latest acquisition is strategic to its other properties in the Key Lake Area, and will significantly expand its Highrock claims.
Forum Uranium is a Canadian energy company with a focus on the acquisition, exploration and development of Canadian uranium projects.
