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Bayridge Resources Completes Obligations for 40% Earn-In at Athabasca Basin Uranium Properties

Bayridge Resources Completes Initial Obligations

Bayridge Resources Corp. (CSE: BYRG) has announced the completion of its cash and share obligations towards earning an initial 40% interest in CanAlaska Uranium Ltd.’s Waterbury East and Constellation Projects in the Athabasca Basin. The Company paid $490,000 in cash and issued $685,000 worth of common shares to CanAlaska.

Upcoming Exploration Expenditures

Now, Bayridge must incur exploration expenditures of $1,500,000 within 18 months from March 25, 2024, to secure its initial 40% interest in each of the projects.

About Bayridge Resources Corp.

Bayridge Resources Corp. is a green energy company advancing its portfolio of Canadian uranium and lithium projects. The 1,337 ha Waterbury East project is located 25 km northeast of the Cigar Lake Mine in the northeastern Athabasca Basin region. Geophysical surveys have identified a 7km long conductivity corridor where mid-2000’s drilling highlighted faulted and altered basement rock with local uranium enrichment. Large sections of this corridor remain untested.

The 11,142 ha Constellation project is located 60 km south of the present-day Athabasca Basin edge in an area renowned for basement-hosted uranium exploration activities. Historical airborne surveys identified electromagnetic conductors associated with magnetic lows. The 4,413 ha Sharp Lake project, located in the Red Lake Mining District of Northern Ontario, hosts peraluminous S-type muscovite-bearing pegmatite granites in contact with metasediments. Preliminary sampling has highlighted anomalous rare-element values, potentially indicative of lithium mineralization.

Contact Information

For more information, please contact:
Saf Dhillon, President & Chief Executive Officer
Tel: 604-484-3031

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