Vancouver, British Columbia--(Newsfile Corp. - June 6, 2024) - Stamper Oil & Gas Corp. (TSXV: STMP) (FSE: TMP) ("Stamper" or the "Company") is pleased to announce that it has closed the share purchase agreement dated April 30, 2024 (the "SPA"), with 1471376 BC Ltd. ("BCCo") and its shareholders pursuant to which Stamper has acquired all of the issued and outstanding shares of BCCo from its shareholders (the "Transaction").
The Company issued 2,800,000 common shares (the "Consideration Shares") to the shareholders of BCCo at a deemed price of $0.07 cents per Consideration Share, representing an aggregate purchase price of $196,000. The Consideration Shares are subject to a hold period of four months and one day which will expire on October 6, 2024. No finder's fees were payable on the Transaction. The Transaction was an arms-length transaction for Stamper and did not constitute a fundamental change, nor did it result in a change of control of the Company, within the meaning of the policies of the TSX Venture Exchange.
Concurrent with closing the Transaction, the directors and officers of BCCo resigned from the board of directors and officer positions of BCCo and Mr. Bryson Goodwin was appointed as the sole director and officer of BCCo.
The Transaction remains subject to final approval from the TSX Venture Exchange.
Bryson Goodwin, President and CEO of Stamper states: "As the world transitions to carbon neutral power generation it is becoming more and more obvious that uranium will play a critical role in ensuring safe stable power generation. With the global rush to acquire Uranium mineral assets intensifying we felt it critical to acquire these assets. It is with great pleasure that I can announce the completion of the Capri and Capri2 highly prospective, historic Uranium deposits! Historic exploration work indicate 1,907,000 tonnes of U308 probable reserves, grading between 0.021% to 0.05% U308. With the acquisition complete, the Company's geology consultants are planning an exploration program to compile and update all data and conduct modern exploration methods to deliver an updated NI 43-101 report on Capri and Capri2. With recent increases to the price of Uranium, this acquisition represents a low-cost and high-return potential that fits with Stampers focus of acquiring interests in mineral resource properties focused on energy while driving shareholder value by developing prospects into commercially viable assets."
ABOUT CAPRI AND CAPRI2
Stamper now holds a 100% interest in and to the Capri and Capri2 historic Uranium deposits totalling 1,907,000 tonnes of U308 probable reserves, grading between 0.021% to 0.05% U308. The Capri and Capri2 historic Uranium deposits are located in Quebec, approx. 220km Northwest of the city of Montreal, approx. 140km directly North of the city of Ottawa, and 2 km north of the village of Grand-Remous.
Figure 1. Capri and Capri2 Location Map
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The Capri and Capri2 deposits were discovered in 1953 by Capri Mining Corporation and the historic reserve calculation was conducted in 1976 and published in the Northern Miner on November 18th, 1976. The properties host a NI 43-101 non- compliant historic uranium resource of 1,907,000 tonnes comprised of 907,000 tonnes grading 0.045% U3O8 at Capri and 1,000,000 tonnes grading 0.05% U308 at Capri-2. The zones are located approximately 300 meters apart just north of highway 117. The historic non-NI 43-101 compliant, 1976 resource calculations were considered "probable reserves". Stamper intends to conduct an exploration program to confirm and update these resources and further delineate the Uranium as well as Rare Earth Minerals and Molybdenite mineralization.
Figure 2. Capri and Capri2 Historic Drill Holes Map
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Mineralization is associated with metamorphosed sediments and granitic pegmatites of hydrothermal origin. The mineralized zones are located in sediments and intrusive rocks along a 2,200 m long and 60 m thick zone. The rocks have been metamorphosed to amphibolite/granulite facies. The mineralization contains uraninite, allanite, pyrite, pyrrhotite, chalcopyrite, molybdenite and rare earth minerals.
The Capri and Capri 2 deposits are tabular in shape and are part of six mineralized zones identified by Capri Mining Corporation in the area. The mineralization is evenly disseminated in meta-gabbro and to a lesser extent meta-sediments. The zones are located approximately 300 meters apart just north of highway 117, 2 km north of Grand-Remous, QC.
The rocks are part of the Mont-Laurier Terrain of the Grenville Supergroup. The anomalous uranium and thorium values are mainly in the gabbro. The geology of the area includes metamorphosed sediments and mafic to granitic intrusive rocks including pyroxenite bearing marble, graphitic feldspathic gneisses, diopside and impure quartzite sediments. The lithological contacts are subparallel to the foliation. A syenite pegmatite intrusion intersects some units. The gabbro containing the mineralization is massive to banded, medium-grained and metamorphic-hydrothermal in origin.
The Capri 2 site also contains disseminated sulphide mineralization. Pyrite, pyrrhotite, marcasite and chalcopyrite hosted in diopside feldspar gneiss and graphitic feldspar gneisses.
The foliation varies from N340° to N013° in strike and dip from 27° to 61° east and is moderately folded plunging at 35°.
Exploration Plans
Stamper intends to conduct an exploration program to confirm and update these resources and further delineate the Uranium as well as Rare Earth Minerals and Molybdenite mineralization.
The exploration program could include geological and radiometric mapping/prospecting, outcrop sampling and diamond drill evaluation of priority targets.
Qualified Person
The technical content of this news release has been reviewed and approved by Mitchell Lavery, P.Geo.(QC), who is a Qualified Person ("QP") as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Stamper Oil & Gas
Stamper Oil & Gas Corp. (TSXV: STMP) is an "Energy Commodity Focused" resource company, seeking to acquire interests in mineral and/or oil & gas resource properties focused on energy creation, storage or delivery. The Company is committed to creating sustainable shareholder value by evaluating and developing future prospects into commercially viable assets.
ON BEHALF OF THE BOARD OF DIRECTORS
"Bryson Goodwin"
Bryson Goodwin, President & CEO
Chairman of Board of Directors
For further information, please contact:
Phone: 604-341-1531
Email: brysongoodwin@shaw.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Stamper Oil & Gas Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Stamper Oil & Gas Corp. management on the date the statements are made. Except as required by law, Stamper Oil & Gas Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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SOURCE: Stamper Oil & Gas Corp.
