Okapi Resources Limited Stock Market Press Releases and Company Profile
Okapi to Acquire High-Grade Uranium Assets - Athabasca Basin
Okapi to Acquire High-Grade Uranium Assets - Athabasca Basin

Perth, Nov 9, 2021 AEST (ABN Newswire) - Okapi Resources Limited (googlechartASX:OKR) is pleased to announce that it has entered into a binding, conditional agreement with ALX Resources Corp (googlechartCVE:AL) (googlechartALXEF:OTCMKTS) to acquire a portfolio of six advanced exploration projects in the world's premier high grade uranium district, the Athabasca Basin.

The Athabasca Projects includes 75 granted mineral claims covering over 55,000 hectares. Importantly, all of the projects are located along the margin of the Athabasca Basin or in the Carswell Impact Structure where depth to the unconformity is relatively shallow being 300 metres or less and typically closer to 100 metres, making them ideal for targeting shallow high-grade unconformity-related uranium deposits. Okapi will initially focus on the Cluff Lake Exploration Project and the Newnham Lake Project where the team will be targeting high-grade unconformity-related uranium deposits.

Okapi Resources Executive Director David Nour commented:

"This acquisition is highly complementary to Okapi's existing portfolio of advanced uranium projects providing Okapi shareholders with exposure across the full exploration and development spectrum.

A number of world-class uranium discoveries have been made in the Athabasca Basin in recent years following new advancements in the understanding and exploration of high-grade unconformity style uranium deposits. The Cluff Lake Exploration Project and the Newnham Lake Project have the hallmarks for potential tier-1 uranium discoveries.

We also remain focussed on advancing Okapi's Tallahassee Uranium Project towards production following the recent announcement of our Maiden JORC 2012 Resources of 27.6 million pounds @ 490ppm U3O8."

To view the complete acquisition portfolio, please visit:

About Okapi Resources Limited

Okapi Resources LtdOkapi Resources Limited (ASX:OKR) recently acquired a portfolio of advanced, high grade uranium assets located in the United States of America and in the Athabasca Basin, Canada.

Assets include a strategic position in one of the most prolific uranium districts in the USA - the Tallahassee Creek Uranium District in Colorado. The Tallahassee Uranium Project contains a JORC 2012 Mineral Resource estimate of 27.6 million pounds of U3O8 at a grade of 490ppm U3O8 with significant exploration upside. The greater Tallahassee Creek Uranium District hosts more than 100 million pounds of U3O8 with considerable opportunity to expand the existing resource base by acquiring additional complementary assets in the district.

The portfolio of assets also includes an option to acquire 100% of the high-grade Rattler Uranium Project in Utah, which includes the historical Rattlesnake open pit mine. The Rattler Uranium Project is located 85km from the White Mesa Uranium Mill, the only operating conventional uranium mill in the USA hence provides a near term, low-capital development opportunity.

In January 2022, Okapi acquired a portfolio of high-grade exploration assets in the world's premier uranium district, the Athabasca Basin. The Athabasca Basin is home to the world's largest and highest-grade uranium mines.

Okapi's clear strategy is to become a new leader in North American carbon-free nuclear energy by assembling a portfolio of high-quality uranium assets through accretive acquisitions and exploration.



Leonard Math
Executive Director and Company Secretary
Okapi Resources Ltd
T: 08 6117 9338
E: leonard.math@okapiresources.com

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