Basin strengthens Athabasca relationships with exploration agreement

Basin Energy (ASX:BSN) has struck an exploration agreement with Canadian First Nations and local communities over its uranium assets in the Athabasca area. 

The $9.6 million market capitalisation company says the agreement formalises its relationship with the Ya’thi Néné Lands and Resources Office (YNLR), which represents the communities that collectively comprise the Athabasca First Nations and Athabasca Communities. 

These include Hatchet Lake Denesułiné First Nation, Black Lake Denesułiné First Nation, Fond du Lac Denesułiné First Nation, and the Northern Hamlet of Stony Rapids, the Northern Settlement of Uranium City, the Northern Settlement of Wollaston Lake, and the Northern Settlement of Camsell Portage. 

Basin says it continues to engage with other rights holders affected by its exploration activities across its Geikie, North Millennium, and Marshall uranium projects in the Athabasca Basin in Canada. 

The new exploration agreement formalises the process for consultation, environmental management, and information sharing between Basin and the Athabasca First Nations and Communities. 

The company notes the agreement provides a framework for the Communities and Basin to ensure the meaningful participation of the Communities in the projects by delivering economic, employment, and training opportunities and benefits to support community development initiatives. 

The signing of the agreement confirms the Athabasca First Nations and Communities’ consent and support for Basin’s exploration activities, subject to Basin meeting its obligations under the agreement.  

Basin Energy Managing Director Pete Moorhouse says the agreement aligns with the company’s environmental and sustainability commitments.   

“Basin is committed to building mutually beneficial and transparent relationships with all rights holders impacted by our operations. Sustainable and environmentally responsible operations are at the forefront of all exploration activities conducted by the company. 

“Sustainable and environmentally responsible operations are at the forefront of all exploration activities conducted by the company”

We are pleased to have reached this agreement that formalises these commitments. We look forward to continuing to work closely with the Athabasca Denesųłiné First Nations and Athabasca Communities involved and are grateful for their involvement as we explore the exciting opportunities that the eastern Athabasca has to offer.”

Elder and Chairperson of YNLR Mary Denechezhe says Basin is setting an example for other explorers and developers who wish to operate in this jurisdiction. 

“We are pleased to enter into this agreement with Basin Energy, as they are approaching development in our territory in a positive way that respects our communities and includes our knowledge and aspirations.

This is our expectation of all companies seeking to operate in our territory. We look forward to building on this partnership by ensuring the land is respected and that meaningful opportunities come to our people.”

Basin Energy is scheduled to exhibit at the upcoming International Mining and Resources Conference (IMARC) held in Sydney from 31 October to 2 November 2023. is an official media partner of IMARC, which will showcase 470-plus mining leaders and resource experts throughout 7 concurrent conferences.

Basin Energy is a uranium explorer and developer with an interest in 3 ‘highly prospective’ projects positioned in the southeast corner and margins of the Athabasca Basin in Canada. 

The YNLR Office is a non-profit organisation established in June 2016 to promote and enhance the environmental, social, economic, and cultural well-being of current and future Athabasca residents.

Basin Energy had $5.209 million cash and cash equivalents at hand as of 30 June 2023, according to its latest quarterly report.

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Images: Basin Energy
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.