Pegasus Resources Acquires Strategic Uranium Project in Utah

Pegasus Resources' CEO, Chris Timmins, has announced the company's acquisition of the Jupiter Project, a strategically important uranium project located in Utah. Finalized through an agreement with KD Prospect, the acquisition grants Pegasus Resources a 100% interest in the Jupiter Project. The project comprises 48 unpatented claims situated 3 kilometers north of Energy Sands in Emery County, Utah. These claims lie within the Bureau of Land Management's jurisdiction and are readily accessible via a service road connected to the I-70 highway.

Timmins underscored the importance of the Jupiter Project for Pegasus Resources and its investors, emphasizing that it complements the company's existing Energy Sands Project. The Jupiter Project is particularly notable due to its advanced status and the availability of historical drilling data. This data will be crucial as the company moves forward with developing a future resource estimate.

Pegasus Resources plans to undertake extensive work to establish a resource estimate in line with the current CIM Definition Standards on Mineral Resources and Mineral Reserves. The company's exploration strategy includes twinning historical drill holes, conducting geological re-logging of old drill holes, and identifying new drill targets. These efforts are aimed at expanding known resources and discovering new mineralization zones, thereby enhancing the project's overall value and potential.

Timmins' announcement marks a significant step for Pegasus Resources as it looks to capitalize on the promising prospects of the Jupiter Project. The strategic acquisition is poised to strengthen the company's position in the uranium market, offering substantial opportunities for growth and development in the sector.