07:24 AM EDT, 05/27/2025 (MT Newswires) -- Uranium Royalty ( UROY ) traded 3.9% higher at last look on Tuesday in Nasdaq pre-market trading as it agreed to acquire a 2% gross overriding royalty on Forum Energy Metals' ( FDCFF ) Aberdeen uranium project in Nunavut for $1 million.

Under the terms, Forum retains the right to repurchase 0.5% of the royalty for $1 million within six months of a successful pre-feasibility study. This right expires seven years after issuance, Uranium Royalty ( UROY ) said.

According to Uranium Royalty ( UROY ), the Aberdeen project covers over 95,000 hectares in the underexplored Thelon Basin, which is considered Canada's emerging analogue to the Athabasca Basin in Saskatchewan.