Rook I Project (Arrow Deposit)

100%-owned development-stage uranium project in the southwestern Athabasca Basin, ~40 km east of the Alberta-Saskatchewan border and 150 km north of La Loche, accessed via all-weather Highway 955 and a 13 km access road. Hosts the Arrow Deposit, discovered February 2014: a basement-hosted, vein-type deposit within the A0-A5 shears, 315 m wide over 980 m of strike, extending from 100 m to 980 m depth and open in most directions. The 2021 Feasibility Study contemplates two shafts, conventional transverse and longitudinal longhole mining at a nominal 1,300 t/d with an underground tailings management facility, paste backfill, 97.6% metallurgical recovery and an LNG power plant. Provincial EA approval November 2023; CNSC accepted the Final Federal EIS January 2025; hearing concluded February 2026, decision pending. The August 2024 Interim Trend Update indicated pre-production capital of ~C$2.2B (FS: C$1.3B). The Rook I property comprises 32 contiguous claims totalling 35,065 ha within SW2; certain claims carry a 2% NSR to Advance Royalty Corporation (reducible to 1% for $1.0M).