en.Wedoany.com Reported - Laramide Resources (TSX:LAM) has completed the acquisition of exploration licenses for the Hotagen and Arjeplog-Arvidsjaur uranium districts in Sweden from private vendor Gilpas Resources for C$600,000 (US$610,695). The company has acquired a 100% interest in the licenses, with consideration paid as C$300,000 in cash and C$300,000 in shares, with the share portion issued via 5,032,216 shares from treasury.

The C$300,000 cash component of the consideration includes a non-refundable deposit of C$50,000, with the remaining C$250,000 in cash due by August 31, 2026. The milestone payment conditions under the agreement are: C$150,000 payable when the delineated combined mineral resources contain at least 5 million pounds (Mlbs) of uranium, and C$250,000 payable when uranium resources reach 10 million pounds.

The Klappibacken project involved in this acquisition is located in the Hotagen district and consists of two licenses covering a total area of more than 1,700 hectares, adjacent to a project cluster with historical resource estimates. The broader Hotagen district hosts the historical Nordfjallet South resource, estimated at 1.8 million pounds (1.8 Mlbs) of uranium at a grade of 0.102% U3O8.

The Kaivaive license within the Arjeplog project covers part of the Arjeplog-Arvidsjaur province, where the Pleutajokk and Duobblon deposits contain approximately 28 million pounds (28 Mlbs) of U3O8. Historical drilling in 1976 and 1981 encountered uranium mineralization at depths of up to 50 meters from surface.

Laramide Chief Executive Officer Marc Henderson stated that Sweden has undergone "one of the most significant policy shifts in the global uranium industry." "In a relatively short period of time, the Swedish government has reinstated uranium mining, modernized the regulatory framework, and reaffirmed nuclear energy as a cornerstone of the nation's long-term energy strategy," Henderson said. "We believe these reforms represent a transformative shift for the Swedish mining sector and create compelling opportunities to establish a strategic position within the emerging European uranium supply chain."

Going forward, initial work will focus on digitizing historical data, integrating geophysical and geochemical datasets, prioritizing targets, and preparing for field verification and drill targeting.

Laramide Resources is focused on the exploration and development of uranium assets in premier uranium mining jurisdictions.