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Vancouver B.C., February 14, 2025 – TERRA CLEAN ENERGY CORP. (“Terra” or the “Company”) (CSE: TCEC, OTCQB: TCEFF, FSE: 9O0), is pleased to announce the mobilization of crew and equipment at the South Falcon East Uranium Project which hosts the Fraser Lakes B Uranium Deposit. The South Falcon Project lies 18km outside the edge of the Athabasca Basin, approximately 50 km East of the Key Lake uranium mill and former mine.
Terra Clean Energy Corp. entered into an option agreement with SkyHarbour Resources Ltd in October of 2022 whereby the company can earn up to a 75% interest in the South Falcon East property (see news release dated December 30, 2024, for earn-in details).
Mobilization of crew and equipment has commenced for an extensive winter drill program consisting of up to 2,500 meters of drilling. The field program will be executed by Terralogic Exploration Inc. under the supervision of Brett Lavigne, Project Manager with TerraLogic Exploration and C. Trevor Perkins, VP Exploration for Terra Clean Energy Corp.
The Company’s inaugural drill program in early 2024 (news release dated April 1, 2024) at South Falcon East confirmed the presence of uranium mineralized pegmatites and graphitic pelitic paragneiss along the Way Lake Conductor. Graphitic pelitic paragneiss are a key lithology associated with uranium deposits within the eastern Athabasca Basin, and their presence at the Fraser Lakes B deposit is a good indication of the potential for high-grade basement-hosted unconformity related uranium mineralization, in addition to the known pegmatite/alaskite-hosted uranium mineralization at the deposit.
The priority of the Winter 2025 program is to expand on the Winter 2024 program by extending the mineralized footprint associated with the Fraser Lakes B Uranium Deposit (Figure 2) and test nearby targets with prospective alteration and structure identified in historical drilling. Modeling of the existing data indicates the presence of a north-northwest trending structure crosscutting the way Lake conductor through the Fraser Lakes B deposit. The presence of this structural intersection with the Way Lake conductor and structure bodes well for a scenario where remobilized uranium mineralization can be concentrated at this area resulting in a higher-grade zone within the overall deposit. Efforts will be made to locate and characterize this structural trap and test the model as this is the best scenario for a high-grade unconformity related basement hosted uranium deposit.
The infill and step out drilling planned at Fraser Lake B will confirm the presence and continuity of existing mineralization and expand the footprint of the deposit; currently the mineralization is open both down dip and along strike. The results of infill and step-out drilling will aid in preparation of an updated NI 43-101 compliant resource estimate and deposit model for Fraser Lakes B. The upgraded resource will also integrate other results not included in the historical resource estimate, including higher-grade mineralization encountered to date at Fraser Lakes B, intersected in drillhole FP-15-05. FP-15-05 returned 0.165% U3O8 and 0.112% ThO2 over 2.0 metres at 135.0 metres depth within a broader interval containing 0.103% U308 and 0.062% ThO2 over 6.0 metres at a depth of 134.5 m, and a second high grade intercept of 0.172% U3O8 and 0.113% ThO2 over 2.5 metres at 146.0 m depth. The mineralization at Fraser Lakes B is accompanied by anomalous pathfinder elements, including Bi, Mo, Pb, and Zn, that are also associated with ultra high-grade basement-hosted unconformity uranium deposits in the Athabasca Basin.
While the Fraser Lakes B uranium deposit will remain a primary focus of early efforts on the property, the Company has ample additional drill-ready targets along the Way Lake conductor at South Falcon East. This includes the T-Bone Lake area, just north of Fraser Lakes B (Figure 2), where limited drilling encountered highly prospective clay alteration, anomalous radioactivity, and uranium mineralization (including up to 0.055% U3O8 over 0.9 m at 39.5 metres depth in drillhole WYL-10-53) associated with a north-northwest trending fault cross-cutting the northeast-trending Way Lake conductor. The alteration encountered at T-Bone Lake is similar to that encompassing several high-grade basement-hosted uranium deposits in the eastern Athabasca Basin, including the former Eagle Point Mine and the Millennium uranium deposits. Regional drilling will focus on this area and other untested areas of structural complexity along the folded Way Lake conductor that are highly prospective for high-grade basement-hosted unconformity-related uranium mineralization and additional pegmatite-hosted uranium mineralization.
“We are very happy to be getting back on the ground at South Falcon East and continue what we started in 2024”, commented Trevor Perkins, VP Exploitation for Terra Clean Energy Corp. “We are eager to expand the existing deposit as well as characterize and explore the identified north-northwest structure and related complexity” continued Mr. Perkins. “This is presenting the ideal structural scenario where uranium sourced from the mineralized pegmatites and surrounding rock can be concentrated and give us a high-grade basement deposit. This has been seen at other deposits, and we want to find it here.”
“We have a unique and exceptional exploration opportunity that includes continuing to expand the Fraser Lakes B Uranium Deposit which is open in all directions and at depth as well as pursuing high-grade basement hosted uranium deposits.” “The team is very excited about the prospects identified and eager to unlock the abundance of value for shareholders.”
The Company is pleased to announce that it has engaged the marketing services of AKTEIN CHECK in an agreement dated February 10, 2025 to provide a comprehensive marketing and investor relations awareness campaign lasting several months. In exchange for providing these services, AKTEIN CHECK will receive a payment of Euro 50,000. AKTEIN CECK has an arm’s length relationship with the company. The company will not issue any securities to AKTEIN CHECK for these services.
Figure 1: South Falcon East Project Location – Eastern Athabasca Basin, Saskatchewan, Canada
Figure 2: 2025 Drill Target areas at the south Falcon East Uranium Project
About Terra Clean Energy Corp.
Terra Clean Energy (formerly Tisdale Clean Energy Corp) is a Canadian-based uranium exploration and development company. The Company is currently developing the South Falcon East uranium project, which holds a 6.96M pound inferred uranium resource* within the Fraser Lakes B uranium/thorium deposit, located in the Athabasca Basin region, Saskatchewan, Canada.
ON BEHALF OF THE BOARD OF TERRA CLEAN ENERGY CORP.
“Greg Cameron”
Greg Cameron, CEO
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by C. Trevor Perkins, P.Geo., Vice President, Exploration for Terra Clean Energy Corp, and a Qualified Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property, filed on sedarplus.ca on February 9, 2023. The Company is not treating the resource as current and has not completed sufficient work to classify the resource as a current mineral resource. While the Company is not treating the historical resource as current, it does believe the work conducted is reliable and the information may be of assistance to readers.
Forward-Looking Information
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information, including statements regarding the potential development of mineral resources and mineral reserves which may or may not occur. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and general economic and political conditions. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary approvals, including governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by applicable laws. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the Company’s public filings available under the Company’s profile at www.sedarplus.ca.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Greg Cameron, CEO
info@tcec.energy
Terra Clean Energy Corp
Suite 2200, HSBC Building, 885 West Georgia St.
Vancouver, BC V6C 3E8 Canada
www.tcec.energy