VANCOUVER, British Columbia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Senator Minerals Inc. (TSXV:SNR) (OTC:SNRAF) (Frankfurt: T1KA ) (“ Senator ” or the “ Company ”) is pleased to announce that, in light of the recent decision by Cameco Corporation to temporarily “suspending production” at the McArthur River mine, the Company is looking to expand its focus to the acquisition of additional advanced exploration projects and established deposits. The suspension at the McArthur River Mine, the world’s largest operating uranium mine accounting for about 10% of global production, represents an opportunity for further strategic acquisitions in the sector at an opportune time in the market. The McArthur River Mine and Key Lake Mill complex are collectively the world’s largest uranium operation and a shutdown of this magnitude will likely cause upward volatility in both the spot and long-term price of this globally essential commodity.
Given the Company’s recent results in the field, the board of directors remains firmly committed to the exploration of its highly prospective projects in the Athabasca Basin, the most productive uranium-producing region in the world. The move to expand its acquisition focus is a direct response to the removal of an estimated 17,000,000 pounds of uranium of annual production from the supply chain.
About Senator Minerals Inc. Senator Minerals is a junior mineral explorer focused on uranium exploration in northern Saskatchewan. Senator has entered into an agreement with an arm's-length vendors to acquire a 100-per-cent interest in both the Patterson North East (PNE) and Carter Lake uranium projects, located on the east side of the Athabasca basin in Northern Saskatchewan, the most productive uranium-producing region in the world.
For further information contact Tim Fernback at 604-340-3774.
Tim Fernback President and Chief Executive Officer
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Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the Company’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.
