{"id":4130,"date":"2026-10-23T20:17:10","date_gmt":"2026-10-23T18:17:10","guid":{"rendered":"https:\/\/energianucleare.eu\/foremost-sells-31-of-gr-and-blackwing-uranium-projects-to-denison-for-650000\/"},"modified":"2026-10-23T20:17:10","modified_gmt":"2026-10-23T18:17:10","slug":"foremost-sells-31-of-gr-and-blackwing-uranium-projects-to-denison-for-650000","status":"publish","type":"post","link":"https:\/\/energianucleare.eu\/en\/foremost-sells-31-of-gr-and-blackwing-uranium-projects-to-denison-for-650000\/","title":{"rendered":"Foremost Sells 31% of GR and Blackwing Uranium Projects to Denison for $650,000"},"content":{"rendered":"

Foremost Clean Energy<\/strong> has signed an agreement with Denison Mines<\/strong> to sell a 31% interest in the GR and Blackwing uranium properties in northern Saskatchewan and to form two exploration joint ventures. The transaction is valued at $650,000 and includes the issuance of 1,031,191 warrants. The announcement was made on October 22, 2026.<\/p>\n

Following the sale, Foremost retains a 20% interest in each property, while Denison funds 80% of future exploration expenditures. The warrants have an exercise price of $1.80 and a five-year term. The exercise price represents a premium of more than 175% to the October 22 closing price of $0.64. Foremost also has six months, from the completion of the initial geophysical surveys or the last of the initial expenditures, to decide whether to fund its share or accept the dilution provided for under the joint ventures.<\/p>\n

The two properties are located in the northwestern part of the Athabasca Basin<\/strong>, one of the richest uranium regions in the world. GR extends along the Grease River shear zone, while Blackwing runs along the Black Bay fault. According to interim Chief Executive Officer David Cates, both are geologically promising areas that have so far seen little or no exploration.<\/p>\n

The backdrop is the option Foremost secured from Denison in October 2024: the right to acquire up to a 70% interest in ten exploration properties covering more than 330,000 acres in total. The size of the claims and the annual spending required to keep them in good standing are substantial for a small exploration company. Cates explained that the joint ventures allow Foremost to retain exposure to future results without bearing alone the cost of a district-scale land package.<\/p>\n

For Denison, the agreement expands its presence in an area it has long known and where geophysical surveys are planned. For Foremost, it means immediate cash and a reduced spending commitment on the other properties in its portfolio. Closing is expected around November 2, 2026<\/strong>, subject to regulatory and stock exchange approvals.<\/p>\n

If the first geophysical campaigns deliver favorable results, GR and Blackwing could become a new exploration hub in the basin. For Canadian uranium, destined for reactors around the world, every new area to be tested broadens the supply base.<\/p>\n","protected":false},"excerpt":{"rendered":"

Foremost Clean Energy has signed a deal with Denison Mines to sell a 31% interest in the GR and Blackwing uranium properties in the Athabasca Basin and form two exploration joint ventures. Foremost receives $650,000, retains 20% and issues 1,031,191 warrants exercisable at $1.80.<\/p>\n","protected":false},"author":25,"featured_media":4127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-4130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nForemost Sells 31% of GR and Blackwing Uranium Projects to Denison for $650,000 - Energia nucleare<\/title>\n<meta name=\"description\" content=\"Foremost and Denison form two joint ventures on the GR and Blackwing uranium properties in the Athabasca Basin: $650,000 deal, 31% sold.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energianucleare.eu\/en\/foremost-sells-31-of-gr-and-blackwing-uranium-projects-to-denison-for-650000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foremost Sells 31% of GR and Blackwing Uranium Projects to Denison for $650,000 - 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