Consolidated Uranium Proposed Spin-Out, Labrador Uranium, Continues Consolidation in the Central Mineral Belt with the Acquisition of Mustang Lake

TORONTO, Nov. 04, 2021 (GLOBE NEWSWIRE) — Consolidated Uranium Inc. (“ CUR ”, the “ Company ” or “ Consolidated Uranium ”) (TSXV: CUR) (OTCQB: CURUF) is pleased to announce that further to its press release on October 18, 2021 regarding the creation and planned spin-out of Labrador Uranium Inc. (“ Labrador Uranium ” or “ LUR ”), the Company and LUR have entered into a purchase agreement (the “ Purchase Agreement ”) with Mega Uranium Ltd. (“ Mega ”) and its wholly-owned subsidiary, pursuant to which LUR has agreed to acquire Mega’s 66% participating interest in the joint venture (the “ JV Interest ”) that holds a 100% interest in the Mustang Lake project (the “ Mustang Lake Project ”), a prospective uranium project located in the Central Mineral Belt of Labrador, approximately 9.5 kilometres northeast of Paladin Energy’s Michelin deposit (the “ Mega Transaction ”).

Stephen Keith, President […]

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