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US-based Premier Uranium will acquire uranium exploration company, Nuclear Fuel.
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Release time：2025-06-06
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This acquisition will integrate a broad portfolio of projects in major U.S. uranium mining districts, enhancing the strategic position of both companies.
Premier American Uranium has agreed to acquire Nuclear Fuels, a uranium exploration company focused on advancing early-stage, in-situ recovery (ISR) uranium projects in the United States.
This acquisition will integrate a broad portfolio of projects in key US uranium districts, strengthening the strategic position of both companies. Under the agreement, Nuclear Fuels shareholders will receive 0.33 shares of Premier American Uranium stock for each share of Nuclear Fuels stock held. This exchange ratio represents a 54% premium to Nuclear Fuels' closing price on the Canadian Securities Exchange on the announcement date. The combined entity is valued at approximately C$102 million (US$74.4 million).
Nuclear Fuels' portfolio includes the Kaycee uranium project in Wyoming's Powder River Basin, which spans 35 miles of strike length and has a significant drilling and exploration history. This acquisition also adds five exploration-stage projects located in Wyoming, Utah, and Arizona to Premier American Uranium's assets. The combined project portfolio will cover over 104,000 acres, providing a pipeline from near-term development to early-stage exploration.
Premier American Uranium CEO Colin Healey stated: "Premier American Uranium is thrilled to undertake this transaction, combining our assets with those of Nuclear Fuels. Kaycee is an exciting ISR prospect and, combined with our own Cyclone project, is expected to make PUR (Premier American Uranium) one of the most active uranium exploration companies in Wyoming." "Our focus is on resource growth in Wyoming, while we continue to advance the development of our Cebolleta project in New Mexico. This is Premier American Uranium's second significant acquisition in the past 12 months, aligning with our growth objectives during a period of positive outlook for the nuclear energy sector."
The strategic rationale behind this transaction is multifaceted. It establishes a leading exploration company with approximately 18.6 million pounds (mlb) of U3O8 indicated mineral resources and 4.9 million pounds (mlb) of U3O8 inferred mineral resources at its Cebolleta project in New Mexico. The combined company has significantly enhanced operations in Wyoming, completing the most exploration drilling in 2024 among Wyoming-focused ISR exploration companies. Key development catalysts include planned mineral resource updates and a preliminary economic assessment for Cebolleta, expected in Summer 2025.
In May 2025, four uranium projects were included on the US federal FAST-41 permitting list, highlighting the strategic importance of the Grants Mineral Belt. Nuclear Fuels acquired the Kaycee project from enCore Energy in 2022, with enCore retaining a buyback option under certain resource estimation conditions. Premier American Uranium integrates, explores, and develops uranium projects in the US, aiming to strengthen domestic energy security and support the transition to clean energy. One of the company's key strengths is its large land position in three US uranium districts: the Grants Mineral Belt in New Mexico, the Great Divide Basin in Wyoming, and the Uravan Mineral Belt in Colorado. In October last year, Premier American Uranium also reported successful 2024 exploration drilling at its Cyclone ISR uranium project in Wyoming, discovering promising uranium mineralization.
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