Senator Minerals Inc.

Senator Minerals Inc.

June 28, 2017 16:30 ET

Senator Minerals Advances Commitment Fee for Carter Lake Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 28, 2017) - Senator Minerals Inc. (TSX VENTURE:SNR)(OTC:SNRAF)(FRANKFURT:T1KA) ("Senator" or the "Company") is pleased to announce that as a result of preliminary due diligence results from the Carter Lake Uranium Project, the Company has agreed to advance a non-refundable commitment fee of $100,000 to Gunnar Minerals Corp. Assuming the Company elects to move forward, the commitment fee will form part of the consideration to acquire a controlling interest in the project.

The Carter Lake Uranium Project is located in the southwestern corner of the Athabasca Basin, Saskatchewan. The project covers approximately 1113 hectares on the Carter Lake Corridor, an exploration zone adjacent to the prolific Patterson Lake Corridor.

Readers are cautioned that completion of the acquisition of a controlling interest in the project remains subject to finalization of due diligence and negotiation of definitive documentation. There can be no assurance that the acquisition will be completed in a timely fashion or at all.

About Senator Minerals Inc.

Senator is a junior mineral explorer focused on uranium exploration in northern Saskatchewan. Senator has entered into an agreement with an arm's-length vendor to acquire a 100-per-cent interest in the Patterson North East (PNE) Uranium Project, located on the east side of the Athabasca basin in Northern Saskatchewan, the most productive uranium-producing region in the world.

Tim Fernback, President and Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 "Risk 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.

Contact Information

  • Tim Fernback