Distributed on behalf of Eastport Critical Metals Corp.
Uranium stocks, like Eastport Critical Metals Corp. (TSXV: EVI) (OTCQB: EVIIF), Denison Mines (NYSEAMERICAN: DNN) (TSX: DML), Lotus Resources Limited (OTCQX: LTSRF), Paladin Energy (TSX: PDN) (OTCQX: PALAF), and Forsys Metals (TSX: FSY) (OTCPK: FOSYF) could see a significant amount of upside, long-term.
First, global uranium demand is projected to rise by about 28% by 2030, according to World Nuclear Association. The increase is being driven by growing demand for energy security and the rapid expansion of artificial intelligence data centers, which require enormous amounts of electricity. To meet those energy needs, major technology companies are increasingly turning to nuclear power.
Second, supply could become a major issue. According to Mining.com, uranium output from existing mines is expected to be cut in half after 2030, creating an urgent need for new mines and the restart of idle operations. Because new uranium projects can take 10 to 20 years to develop, industry groups warn that investment must accelerate now to avoid future supply shortages.
Third, the Trump administration recently added uranium to the U.S. critical minerals list in an effort to strengthen domestic supply chains and reduce reliance on foreign imports. Uranium is considered strategically important because it powers commercial nuclear reactors, supports U.S. Navy submarines, and plays a key role in national defense. The United States currently imports the vast majority of its uranium supply, a dependence many policymakers view as a growing national security risk.
One of the Beneficiaries is Eastport Critical Metals Corp. (TSXV: EVI) (OTCQB: EVIIF)
Eastport Critical Metals Corp. just announced the first batch of laboratory assay results for the Phase 1 reverse circulation (RC) drilling program at the Foley Uranium Project in Botswana.
Assays from the first 10 RC holes of the program have been received. The results, obtained using the pressed pellet analytical technique, demonstrate potential for large-scale uranium mineralisation (>200ppm U3O8), with uranium intersected in 6 holes over a 1.4 km strike length. Assay results are pending for an additional 5 holes [Total RC Drill Holes: 24].
Highlights:
· RC006: 8.0 m @ 553.0 ppm U₃O₈ from 84.0 m, including 2.0 m @ 1,272 ppm U₃O₈ from 87.0 m.
· RC003: 6.0 m @ 500.7 ppm U₃O₈ from 92.0 m, including 3.0 m @ 806 ppm U₃O₈ from 92.0 m.
· RC005: 1.0 m @ 2,333 ppm U₃O₈ from 103.0 m.
The reported drill fence is located approximately ~350 metres north of the Letlhakane deposit, a project owned by Lotus Resources Limited. According to publicly available disclosure by Lotus Resources Limited, the Letlhakane project hosts a reported Mineral Resource Estimate consisting of Indicated Mineral Resources of 71.6Mt grading 360 ppm U₃O₈ for 56.8 Mlb contained U3O8, and Inferred Mineral Resources of 70.6Mt at 366 ppm U₃O₈ for 56.9 Mlb contained U3O8, based on a 200ppm U3O8 cut-off grade.
Furthermore, Lotus Resources concluded a Scoping Study for the Letlhakane Uranium deposit in 2025. The study outlined a 10-year open-pit mining operation producing approximately 3.0 million pounds of U₃O₈ annually, with estimated initial capital costs of US$465 million and all-in sustaining costs ranging from US$35 to US$41 per pound U₃O₈.
The Company advises that mineralization hosted on adjacent, nearby or geologically similar properties, including the Letlhakane Project, is not necessarily indicative of mineralization on the Foley Project. The historical and technical information regarding the Letlhakane project has been sourced from publicly available disclosure by Lotus Resources Limited and has not been independently verified by the Company’s Qualified Person.
CEO, Burns Singh Tennent-Bhohi commented, “Returning strong uranium intercepts and making a discovery on our first drill fence at Foley represents an exceptional outcome for a maiden drill campaign. The drilling intersected continuous mineralization over a 1.4-kilometre strike length beginning approximately ~350 metres north of Lotus Resources’ Letlhakane Uranium Project, one of the largest undeveloped uranium deposits in Africa. This proximity, combined with the continuity and grade of the results, suggests Foley may form part of the same highly prospective paleo-channel system that hosts the Letlhakane deposit.
With these encouraging results in hand, we now await assay results from the remainder of the program.”
“This ambitious drill campaign reflects exactly what Eastport was built to pursue: district-scale discovery potential in one of the world’s premier mining jurisdictions, supported by a technical team with more than 100 years of combined experience operating in Botswana.
The team and I look forward to reporting additional assay results from Foley as we continue to unlock the scale potential of this exciting new uranium discovery.”
Other related developments from around the markets include:
Denison Mines’ David Cates, President and CEO commented, "In February, the Phoenix In-Situ Recovery uranium mine became the first large-scale Canadian uranium mining project in over 20 years to receive all regulatory approvals required to commence construction. Shortly after achieving this landmark permitting accomplishment, the Company made its final investment decision for Phoenix construction and, by the end of the first quarter, our Denison-Wood integrated project management team mobilized to the Wheeler River property and began executing schedule-critical site preparation and early works construction activities. In less than two months of on-site activity, our dedicated teams have completed (i) tree clearing activities across the primary mine site area, (ii) installation of construction management facilities, (iii) construction of our on-site helipad, (iv) civil works for the concrete batch plant pad, and (v) commencement of aggregate production at a nearby quarry. Civil activities continue to advance on site, including those necessary to establish the future airstrip. Taken together, we are on track to ramp up construction staffing and activities to complete early works and commence full-scale construction by the end of the second quarter, which aligns with our target to achieve first uranium production in mid-2028. We are, however, closely monitoring the widespread flooding that is impacting a portion of the road network in northern Saskatchewan. While our personnel are able to access the Phoenix site via helicopter, our ability to mobilize additional heavy equipment and certain supplies to site as planned may be impacted if the flooding persists and/or key infrastructure remains impacted. We recognize the significant efforts of the Province of Saskatchewan to rapidly respond to this unprecedented situation and are hopeful that conditions will improve in the coming days.”
Lotus Resources Limited announced the first mining blast at the open pit of its Kayelekera uranium mine (Kayelekera) in Malawi, following the commencement of uranium production in August 2025. This key milestone marks mining commencement at Kayelekera, enabling Lotus’ planned transition from processing previously mined ore stockpiles to include new run-of-mine (ROM) ore from the Kayelekera mine. Lotus’ ramp up to a steady-state uranium production level of 200,000 lbs of U3O8 per month at Kayelekera remains on track for Q1 CY2026. Lotus Managing Director Greg Bittar commented: “The commencement of drill and blast activities marks another major milestone for the Kayelekera uranium mine. The stockpiles we have been processing continue to outperform our expectations, and the transition to freshly mined ore will support the ramp-up trajectory. The site team’s methodical planning and disciplined approach continues to support the momentum we’ve maintained as we bring Kayelekera back into production, positioning Lotus as a global uranium producer at a very exciting time for the energy sector.”
Paladin Energy Managing Director and CEO, Paul Hemburrow noted, “Our Langer Heinrich Mine continues to perform strongly and activities at the site are in line with our commitment to complete the ramp-up to full operations by the end of the financial year. We were pleased to increase our production guidance for the full year as a result of the hard work and sustained effort of our team and key contractors to successfully mobilise the mining fleet, along with the improved feed grade and the delivery of high recovery rates from the processing plant. While achieving consistency in mining and production has been our focus throughout the year, we are monitoring potential impacts from events in the Middle East. Inbound shipments from suppliers to Langer Heinrich Mine are currently unaffected by the conflict, with our team closely monitoring the situation and taking the necessary steps to secure supply chains for key inputs into production. Outbound shipments of U3O8 to customers are not currently impacted. We were pleased to receive Environmental Approval for the PLS Project from the Saskatchewan Government and are now focused on progressing the next regulatory steps to obtain our construction license for this significant uranium development. Our Canadian approvals effort is being complemented by an active winter drilling campaign at PLS to further prove up the known deposit and examine prospective new areas around the proposed mine.”
Forsys Metals announced further drilling results from its extension and exploration drilling program at the Valencia deposit (under ML 149), part of the Company’s Norasa Uranium project. The drilling program’s objective is to expand mineral resources within and adjacent to the Valencia main pit. A further 960 metres of processed downhole gamma survey results and 8,519 ICP assay results have been logged and processed since the Company’s September 2, 2025 news release. Uranium intercepts have been logged, both in the infill drilling and in the resource extension drilling programs. The drilling is intended to improve the definition of the orebody, providing additional information for pit optimisation and mine planning. Forsys’ Country Director, Pine van Wyk, commented: “We are further encouraged by these results from both the Valencia Main deposit and its surrounding satellite targets. The extension and exploration drilling program has concluded and ongoing drilling has identified resource extention potential, while also improving our geological understanding of the deposit and confidence in the mineral resource.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Eastport Critical Metals Corp. by Eastport Critical Metals Corp. We own ZERO shares of Eastport Critical Metals Corp. Please click here for disclaimer.
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