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Alliance Mining Corp. (TSXV:ALM) has signed a LOI with Jadestone Energy LLC

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Alliance Mining Corp. has signed a Letter of Intent with Jadestone Energy LLC to acquire a 100% interest in Jadestone’s Tonopah Uranium project. The Tonopah Uranium project is located in the Tonopah Mining district in Nye County and Esmerelda Country, Nevada.

Additional Information:

Company: Alliance Mining Corp.
Website: http://www.alliancemining.com
Stock Symbol: TSXV: ALM
Date Published: Aug 23, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Alliance Mining Corp. has signed a Letter of Intent with Jadestone Energy LLC to acquire a 100% interest in Jadestone’s Tonopah Uranium project.

The Tonopah Uranium project is located in the Tonopah Mining district in Nye County and Esmerelda Country, Nevada.

The project consists of 160 contiguous Bureau of Land Management claims covering an area of 3,200 acres.

The claims are located approximately 2 miles northwest of the city of Tonopah and straddle State Highway 95, the main highway between Las Vegas and Reno Nevada.

State Highway 95 runs through the southern portion of the claims with numerous trails and four-wheel drive roads afford access within the claims.

The initial claims in the Tonopah project were staked in the 1950’s by Paul Burkett the founder of Jadestone Energy’s predecessor Uranium Exploration Corporation.

Since the 1950’s exploratory work comprised drilling and field mapping. Prior to 2006, 25 reverse circulation drill holes were drilled on the property and of these 14 holes exhibited uranium mineralization.

In 2006, the company undertook further geological mapping, scintillometer prospecting and drilling with 10 holes exhibiting uranium mineralization.

These results are summarized in a NI 43-101 compliant technical report completed in 2011.

A drilling permit for an additional 68 holes is completed and awaiting approval.

Uranium does not trade on an open market like other commodities, but is negotiated privately between buyers and sellers, with prices published by independent market consultants.

It was recently reported as $26 per pound.

For those looking at the technical side, in a July 26th Special Alert, analyst Mark Deriet of Cormark Securities believes the price of uranium is close to a major breakout and a break above $25 targets $35.

Swiss Resource Capital believes a supply gap inevitable in the future.

“Today only 90% of the global uranium demand can be satisfied by producing mines, and the number of nuclear reactors will double in the coming 10 to 20 years. The previous main supplier of uranium – Russia’s nuclear weapons arsenal – doesn’t exist anymore. An enormous supply gap seems to be inevitable at least at the current market price.”

Canaccord Genuity’s Larry Hill, stated: “The geopolitical aspects of uranium are also likely to create some potential supply side constraints over the medium term in our view. Firstly, the US, under the guise of ‘national security’ is placing a temporary suspension on drawing down of the Department of Energy stockpiles.”

On May 18, 2018, uranium was included in a list of 35 minerals commodities considered critical to the economic and national security of the United States, which was published by the Department of the Interior.

Alliance Mining may earn a 100% interest by making staged payments of US$300,000 and US$1.7 million in shares of 4 years and expending US$600,000 of exploration expenditures over 4 years.

The shares are trading at $0.04.

For more information, please visit the company’s website www.alliancemining.com, contact Antony Claydon, Investor Relations, at 604-488-3900 or email ir@alliancemining.com

I’m Samantha Deutscher for Investmentpitch Media