Americas Uranium (CSE:NUCA) has agreed to acquire a 100% interest in the Treeline uranium property in New Mexico, US, for US$100,000 ($139,492) cash and $2 million in shares.
The company will purchase the property from Verdera Energy (TSX-V:V) and its subsidiary NM Energy Holding.
CEO Nicholas Luksha says the Treeline acquisition of Treeline represents an important step for Americas Uranium as the company builds a portfolio of uranium assets in North America.
“As the US expands nuclear power and strengthens its domestic nuclear fuel supply chain, we believe high-quality American uranium assets will become increasingly important,” Luksha says.
“Our focus is now on advancing the historical work at Treeline and determining the drilling required to evaluate the historical estimate under current NI 43-101 standards.”
Located across Cibola and McKinley counties in an established uranium district, historical records indicate Treeline contains about 1.02 million pounds of uranium oxide. However, this 1978 estimate predates current National Instrument 43-101 standards and cannot be classified as a current mineral resource.
Uranium mineralisation for Treeline is observed in two shallow trends within the Poison Canyon sandstone. The North trend spans roughly 610m northwest-southeast by 53m wide, while the South trend extends 991m with widths ranging from 15 to 46m.
Technical adviser Axiom Exploration Group recommends compiling historical drilling data, building an updated geological model, and undertaking reverse circulation and diamond drilling to establish a National Instrument 43-101-compliant mineral resource estimate.
Under the transaction terms, 90% of the share consideration will be issued in staged payments over 36 months post-closing. Americas Uranium will grant Verdera a 1.5% royalty, with an option to buy back one-third for US$400,000 ($557,991). The property is also subject to existing 2% net proceeds royalties on uranium and 2% net smelter returns on other minerals held by enCore Energy.
The agreement includes a right of first refusal over additional surrounding properties. Completion remains subject to regulatory approvals, including CSE consent, and is expected within coming weeks.
US uranium production doubled to 1.4 million pounds of uranium oxide in 2025 from 700,000 pounds in 2024, reaching its highest annual level since 2016. Additionally, the US Government aims to expand nuclear generating capacity from 100 gigawatts in 2024 to 400 gigawatts by 2050.
Americas Uranium is a Canadian mineral explorer focused on building a portfolio of North American uranium assets.
Write to Paula Fabe at Mining.com.au
Images: Unsplash
