Wedoany.com Report-Jun 6, Premier American Uranium has agreed to acquire Nuclear Fuels, a U.S.-based uranium exploration company focused on in-situ recovery (ISR) projects. The acquisition merges their project portfolios, enhancing their presence in major U.S. uranium districts.

The combined project portfolio will cover over 104,000 acres, offering a robust pipeline from near-term development to early-stage exploration.

Nuclear Fuels shareholders will receive 0.33 of a Premier American Uranium share per Nuclear Fuels share, a 54% premium based on the Canadian Securities Exchange price at the announcement. The combined company is valued at approximately C$102 million (USD74.4 million).

The acquisition includes Nuclear Fuels’ Kaycee project in Wyoming’s Powder River Basin, spanning a 35-mile trend with significant exploration history, and five early-stage projects in Wyoming, Utah, and Arizona. The merged portfolio covers over 104,000 acres, supporting both near-term and exploratory projects.

Colin Healey, CEO of Premier American Uranium, said: “Premier American Uranium is proud to pursue this transaction to combine our assets with those of Nuclear Fuels. Kaycee is an exciting ISR prospect that, in combination with our own Cyclone Project, is expected to position PUR as one of the most active uranium explorers in Wyoming.” He added: “While we target resource growth in Wyoming, we will continue to advance our Cebolleta Project in New Mexico along the development curve.”

The merged company led Wyoming ISR exploration drilling in 2024. The Cebolleta Project in New Mexico has 18.6 million pounds of indicated and 4.9 million pounds of inferred triuranium octoxide, with a resource update and economic assessment planned for summer 2025. In May 2025, four projects were added to the U.S. Federal FAST-41 permitting dashboard, emphasizing the Grants Mineral Belt’s significance.

Nuclear Fuels acquired Kaycee from enCore Energy in 2022, with enCore retaining a buyback option. Premier American Uranium’s assets span New Mexico’s Grants Mineral Belt, Wyoming’s Great Divide Basin, and Colorado’s Uravan Mineral Belt. In October 2024, its Cyclone ISR Uranium Project in Wyoming reported promising mineralization.

The acquisition strengthens Premier American Uranium’s role in supporting U.S. energy security and clean energy goals through uranium project development.