Uranium One Mining Corp. Completes Acquisition of Mineral Properties in British Columbia and Saskatchewan

October 29, 2026 — Leads & Copy — Uranium One Mining Corp. announced Friday the successful completion of its acquisition of 1583644 B.C. Ltd. (NumberCo), a private entity that held interests in two mineral properties. The transaction, initially announced on June 26, 2026, was finalized following an amendment to the share exchange agreement on October 27, 2026.

Through the acquisition, NumberCo acquired a 100% interest in the Foghorn mineral property in British Columbia and the Pasfield Lake mineral property in Saskatchewan. These acquisitions were completed via property purchase agreements prior to or concurrently with the NumberCo acquisition.

Uranium One issued 27,060,000 common shares, valued at C$0.20 per share, to the NumberCo Shareholders as consideration for the acquisition of NumberCo. The total deemed value of this consideration is C$5,412,000.

In connection with the property acquisitions, NumberCo issued 12,060,000 common shares. Of these, 6,700,000 shares were issued to 0782618 B.C. Ltd. for the Foghorn Property, and 3,160,000 shares were issued to Zadar Minerals Corp. for the Pasfield Lake Property. Bua Capital Management Ltd. also received 2,200,000 shares in relation to the Foghorn Property.

Additionally, Uranium One paid C$250,000 in cash to an arm's length vendor for the Foghorn Property. The Foghorn Property is subject to a 3% net smelter returns royalty, with a buyback option for up to 1.5%, while the Pasfield Lake Property has an existing 2% net smelter returns royalty, with a buy-down option to 1%.

The acquisition was structured to allow for a tax-deferred rollover mechanism for Canadian resident NumberCo Shareholders under the Income Tax Act (Canada). The company also extended the termination date of the share exchange agreement from September 30, 2026, to October 31, 2026.

The total consideration for the acquisition of NumberCo, which held the Foghorn and Pasfield Lake properties as its primary assets, was C$5,662,000, comprising the C$5,412,000 in shares and C$250,000 in cash. The deemed price per share was based on the closing price of Uranium One’s common shares on the Canadian Securities Exchange at the time the transaction terms were agreed upon.

The Foghorn Property, located in British Columbia, spans approximately 614 hectares and includes historical exploration dating back to the early 1900s, with significant diamond drilling conducted between 1943 and 1976 targeting uranium, fluorite, and other critical minerals. The Pasfield Lake Property, in Saskatchewan, covers approximately 4,400 hectares and is situated in a region prospective for unconformity-related uranium mineralization.

Uranium One Mining Corp. is a Canadian mineral exploration company focused on acquiring, exploring, and developing uranium and battery metals projects. The company aims to build a diversified portfolio of high-potential projects in Canada, Paraguay, and Argentina to capitalize on the growing global demand for nuclear energy.

The acquired common shares issued as consideration are subject to resale restrictions, with trading permitted only after certain conditions are met, including the filing of NI 43-101 technical reports and financial statements reflecting the acquisition.

Source: Uranium One Mining Corp.