36 MAY 2024 WorldWide Drilling Resource® www.starironworks.com 257 Caroline Street Punxsutawney, PA 15767 800-927-0560 • 814-427-2555 Fax: 814-427-5164 SERVING THE CONSTRUCTION INDUSTRY Serving the Drilling Industry Uranium Exploration Project Approved in Utah Adapted from Information by Kraken Energy Corp. Kraken Energy Corp. announced it received approval to resume their Phase I drill program at the Harts Point Uranium Property in Southern Utah. With a revised and approved exploration permit, the company will drill from two pad locations over a three-mile strike length targeting the uranium bearing Chinle Formation host rock where three historical gas and oil wells returned “off-scale” radioactivity. If the results are favorable, the company plans to continue the drill program to further evaluate the mineralized trend. As a result of this development, management has made the strategic decision to reallocate resources from drilling at its Apex Uranium Property in Nevada, to resume drilling at Harts Point. Company CEO Matthew Schwab stated, “We are excited to be resuming our Phase I drilling program at Harts Point in Utah, and we believe the site to be extremely promising in the short-term. Regarding Apex, we anticipate resuming drilling there once the property is fully permitted, including the U.S. Forest Service portions. While we are encouraged by the continued exploration at Apex, we believe that we can run our drill program more effectively and efficiently once we have the property fully permitted. As such, Harts Point will be our immediate focus moving into 2024.” This world-class uranium area is located in the center of the Colorado Plateau, which has produced over 328 million pounds of uranium since the 1950s. The property consists of 324 lode mining claims on Bureau of Land Management land covering an area of about 6480 acres. Drill permits are in place for up to 20 exploration drill holes. EXB
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