12:39 PM EST, 11/04/2024 (MT Newswires) -- ValOre Metals ( KVLQF ) Monday said its majority-owned Hatchet Uranium (HUC) unit agreed to acquire up to 80% of Skyharbour Resources' ( SYHBF ) Highway Uranium Property in northern Saskatchewan and a provisional 100% stake in Skyhabour's Genie, Usam and CBX/Shoe uranium projects in the region.

HUC may acquire an 80% interest in the Highway property by issuing HUC shares valued at of $1.05 million; making cash payments totaling $245,000; and exploration spending of $2.05 million over three years.

"With this transaction, ValOre shareholders gain growing exposure to the exciting Canadian uranium exploration sector through ValOre's 67.5% ownership interest in Hatchet Uranium Corp," said chief executive Jim Paterson.

The company's shares were last seen unchanged at $0.09 on the TSX Venture Exchange.