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Sulliden Mining Capital Inc. Announces Agreement to Acquire Quebec Uranium Mining Rights, Canadian Business Journal

Toronto, March 23, 2022 (GLOBE NEWSWIRE) — Sulliden Mining Capital Inc. (TSX: SMC) (“Saliden” or “Company”) announces that it has entered into a stock exchange agreement dated March 23, 2022. Based on this, we have agreed to acquire all issued common stock of a private company in Ontario. (“Privco”) Shareholders shall comply with the terms and conditions set forth in the Agreement.

Privco holds 965 uranium claims equivalent to 51,035 hectares of mining area in Quebec’s mining jurisdiction. Most of the accommodation is located in the Proterozoic Otish supergroup. Claims represent the location of important land. Two of the three claims blocks surround the district’s most advanced project, Matoush Deposit (owned by Consolidated Uranium Inc. (“Consolidated”)). Estimated material 0.442% U3O8 with 1,686,000 tonnes, 0.1% U3O8 cutoff. For more information on Matoush Deposit, please refer to the Consolidated press release dated August 19, 2021. This press release is available on the company’s SEDAR profile (www.sedar.com).

Saliden will issue 25 million shares of the Company’s common stock to Pribco shareholders at a deemed price of $ 0.125 per share, for a total of $ 3,125,000, in consideration of the acquisition of 100% of Pribco’s equity interests (the “acquisition”). will do. The acquisition is an arm-length transaction for the purposes of the Toronto Stock Exchange (“TSX”) policy and is subject to normal closing conditions, including TSX approval. No finder fees are paid in connection with the transaction and the change in control of Soliden is not due to the transaction. The transaction is expected to close in April 2022.

About Sulliden Mining Capital Inc.

Sulliden is a mining company focused on acquiring and promoting brownfield, development, and early production stage mining projects in the Americas.

Saliden Mining Capital Co., Ltd.

On behalf of the board of directors

“Stan Bertie”
Interim Chief Executive Officer

For more information:
Ryan Putremy
CFO
ryanp@fmfinancialgroup.com

Precautions

Not enough research has been done to define the mineral resources of PrivCo-owned assets, and further research reveals whether any target will be portrayed as a mineral resource.

This press release contains “forward-looking information” in the sense of applicable Canadian securities law. Forward-looking information includes transactions proposed to acquire Privco, including the terms and conditions for completing the transaction and when to complete the transaction. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors, and our actual results, levels of activity, performance, or performance may be such forward-looking information. May differ significantly from what is expressed or implied by. Receipt of required approvals, risks inherent in the mining industry, and other risks listed in the company’s public disclosure available under the company’s profile on SEDAR at www.sedar.com. We have attempted to identify key factors that may cause actual performance to differ materially from those contained in the forward-looking information, but may cause results to differ from what is expected, estimated or intended. There may be other factors. Actual results and future events may differ materially from those expected in such statements and there is no guarantee that such information will be accurate. Therefore, readers should not place excessive reliance on information about future prospects. We undertake no commitment to update forward-looking information except in accordance with applicable securities law.

TSX has not been reviewed and is not responsible for the accuracy of this news release.


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Sulliden Mining Capital Inc. Announces Agreement to Acquire Quebec Uranium Mining Rights, Canadian Business Journal

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