Verdera Energy to Sell 100% Interest in Treeline Uranium Project in New Mexico, USA

Verdera Energy Corp. recently announced that it has entered into a mineral property purchase and sale agreement with Americas Uranium Corp. to sell 100% of its interest in the Treeline uranium project located in New Mexico, USA, with the transaction remaining subject to related royalty arrangements.

Under the agreement, Americas Uranium will acquire all interests in the Treeline mineral properties and related titles. The consideration includes US$100,000 in cash payable at closing, and Americas Uranium common shares totaling C$2 million payable in installments over 36 months following closing, with 90% of the share consideration to be paid in stages within that period. In addition, Verdera will retain a 1.5% net proceeds royalty on uranium from the project and a 1.5% net smelter returns royalty on other minerals produced from the project. The royalty can be reduced to 1.0% upon payment of C$400,000 to Verdera.

The Treeline uranium project is located in Cibola County and McKinley County, New Mexico, USA. The region has a history of uranium exploration and mining, with past mining activity at the San Mateo mine located southeast of the project. According to a historical report dated January 2005 reviewed by Axiom Exploration Group, the Treeline property is estimated to contain 1.02 million pounds of U₃O₈. Verdera noted that this estimate is historical in nature and does not constitute a current mineral resource or reserve under NI 43-101 standards; a qualified person has not completed sufficient work to classify it as a current mineral resource, and the company is not treating it as a current mineral resource.

Verdera CEO Janet Lee-Sheriff stated that the Treeline project has exploration potential to further expand the historical mineralized footprint, but the company's current business plan is focused on advancing four large-scale mineral projects. She stated that this transaction can deliver immediate value to the company and its shareholders, while the company continues to advance key initiatives including the preparation of the NI 43-101 technical report for the West Largo project and data mining of its database containing more than 200,000 drill hole records to identify additional potential opportunities.

Verdera Energy Corp. stated that it is focused on developing in-situ leaching (ISR) uranium assets in New Mexico, holding approximately 400 square miles of private mineral rights and owning a significant proprietary uranium database. The company stated that its business focus is aligned with domestic U.S. uranium resource development needs.