Oberon Uranium acquires Saskatchewan uranium claims, Saskatchewan

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Oberon Uranium Corp. [CSE-OBRN] has signed a share purchase agreement dated March 28, 2024, with Carbon Markets Inc. and the Carbon shareholders under which Oberon will acquire all of the issued and outstanding shares of Carbon from the Carbon shareholders.

Carbon holds three mineral claims totalling 365 hectares in Saskatchewan, Canada. With this acquisition the company now controls ground that surrounds the historic Leonard mine (estimated production of 50,000 tons grading 0.20% triuranium oxide) and the workings of St. Micheal mine (250 tons grading 0.15% U3O8) and is adjacent to the past producing Smitty mine (produced ore containing 600,000 pounds U3O8 between 1952 and 1960). The type of deposits hosted here consist of pitchblende forming in veins, shears, breccias and open-spaced fillings. Historic sampling conducted in the northeastern part of the claims has reported uranium values of 1.6% and 3.02% U3O8 which samples from the Aurora Yellowknife mines uranium showing No. 44.

Pursuant to the SPA, to acquire all of the issued and outstanding Carbon shares from the Carbon shareholders, Oberon will issue an aggregate of 17.6 million Class A common shares of Oberon to the Carbon shareholders at a deemed price per consideration share of five cents, representing an aggregate purchase price of $880,000. The transaction is subject to receipt of all necessary regulatory approvals.

Oberon Uranium has a 100% interest in the past producing Lucky Boy uranium property located in Arizona, United States. Oberon also owns a 100% interest in the Fusion uranium zone project located in the Athabasca region of Saskatchewan.

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