Tisdale Clean Energy (CSE:TCEC) Investor Overview

Investor Insight

Tisdale Clean Energy’s land position in the prolific Athabasca Basin with proven resources places the company in an ideal position to leverage a rapidly expanding uranium market.

Overview

Tisdale Clean Energy (CSE:TCEC,OTC:TCEFF,FSE:T1KC) is a Canadian company focused on uranium exploration and development. The company is currently focused on the South Falcon East uranium project that spans over 12,000 hectares in the Athabasca Basin in Saskatchewan, Canada, and is home to the Fraser Lakes B uranium and thorium deposits.

The Athabasca Basin hosts several high-grade uranium deposits that provide over 20 percent of the world’s supply. Most of these deposits reside within the basin and are often found under deep sandstone cover.

In October 2022, Tisdale entered into an agreement with Skyharbour Resources (TSXV:SYH,OTCQX:SYHBF,FWB:SC1P) to acquire up to 75 percent interest in the South Falcon East project.

The project enjoys access to excellent infrastructure and has geological characteristics similar to several other high-grade deposits in the basin, such as the Eagle Point, Millennium, P-Patch and Roughrider. Historical exploration at the South Falcon East project, comprising 25 holes totaling 4,603 meters, discovered multiple-stacked uranium, thorium and REE mineralization at the Fraser Lakes Zone B deposit with an NI 43-101 mineral resource estimate of 6.9 million pounds (Mlbs) triuranium octoxide at 0.03 percent, and 5.3 Mlb thorium oxide at 0.023 percent.

The Fraser Lakes target area has exceptional exploitation potential, including the historical resource expansion potential of the current deposit at Zone B.

From 2008 to 2011, outcrop grab samples from South Falcon East returned between 0.04 percent and 0.45 percent triuranium octoxide, and drill core samples returned mineralized sections with values from 0.01 percent to 0.55 percent triuranium octoxide.

In 2015, Skyharbour Resources drilled five holes (1,278 meters) testing various targets. Multiple intervals of uranium mineralization were intersected in several drill holes during the winter program. This mineralization is accompanied by local thorium enrichment and anomalous levels of pathfinder elements such as copper, nickel, vanadium and lead. Hole FP-15-03 returned a 3-meter interval of .08 percent triuranium octoxide, including 2 meters of .10 percent triuranium octoxide (at 295-meter depth). The best intersections occur in drill hole FP-15-05, which was drilled within the main mineralized Fraser Lakes conductive corridor. Hole FP-15-05 returned multiple mineralized intervals over a 14-meter down hole length, including 6 meters of .10 percent triuranium octoxide (including a 2-meter interval of 0.17 percent triuranium octoxide (at 135-meter depth), and a 2.5-meter interval of 0.172 percent triuranium octoxide (at 145-meter depth).

The company benefits from the expertise of senior geologist Trevor Perkins, who brings more than two decades of experience discovering large uranium deposits in the Athabasca Basin and other areas. He discovered the McArthur River North Extension zones (110 Mlbs triuranium octoxide) and the Angulari uranium deposit (20 Mlbs triuranium octoxide).

Tisdale’s presence in a favorable mining jurisdiction and its drill-ready South Falcon East uranium project position it to benefit from improving uranium market fundamentals.

Company Highlights

• Tisdale Clean Energy is a Canadian company focused on uranium exploration and development.
• The company’s flagship South Falcon East uranium project in the Athabasca Basin in Saskatchewan, Canada, contains the Fraser Lakes B uranium/thorium deposit.
• The South Falcon East project has a historic inferred mineral resource estimate of 6.9 million pounds (Mlbs) triuranium octoxide at a grade of 0.03 percent, and 5.3 Mlbs thorium oxide at 0.023 percent thorium oxide.
• The geological and geochemical characteristics of the project are similar to several other high-grade deposits in the basin, such as Eagle Point, Millennium, P-Patch and Roughrider.
• The Athabasca Basin is home to most of Canada’s high-grade uranium deposits and contributes over 20 percent of the world’s supply. Saskatchewan is a geopolitically stable, proven mining jurisdiction with significant infrastructure already in place.
• Uranium prices have crossed $100/lb, last seen in 2007, reflecting a tight market driven by an increased focus on nuclear energy as the world transitions to net zero.

The South Falcon East is the company’s flagship uranium project. It spans over 12,234 hectares and is located 18 kilometers southeast of the Athabasca Basin and 55 kilometers east of the Key Lake mine. The project area enjoys excellent infrastructure, including two highways and access to electricity.

The project has geological characteristics similar to high-grade basement-hosted deposits in the Athabasca Basin, such as Millennium, Eagle Point, Roughrider and P-Patch. Historical exploration at the South Falcon East project led to the discovery of the Fraser Lakes Zone B deposit in 2008. The Zone B deposit is located within the broader 6-kilometer by 7-kilometer Fraser Lakes target area that is considered to have exceptional resource potential along strike and at depth.

The Fraser Lakes Zone B deposit comprises multiple-stacked uranium, thorium and REE mineralization with an NI 43-101 mineral resource estimate of 6.9 Mlb triuranium octoxide at 0.03, and 5.3 Mlb thorium oxide at 0.023 percent within 10.3 million tons (Mt) of material using a cut-off grade of 0.01 percent triuranium octoxide.

Tisdale has planned drill programs through 2025. The main objective of the drilling is to validate and expand the current mineralization linked to the Fraser Lakes Zone B uranium deposit. The infill drilling aims to verify the presence and consistency of the existing mineralization, laying the groundwork for future resource updates. Additionally, the company will carry step-out drilling to enlarge the deposit’s footprint, given that the current mineralization is open in all directions.

A second priority involves initiating regional exploration by investigating potential anomalies identified in the T-Bone Lake area. Regional drilling will concentrate on uncovering additional mineralized zones and deposits within the folded structural package hosting the Fraser Lakes B deposit.

Tisdale has raised nearly C$1.9 million in private placement over two tranches (one in December 2023 and the other in February 2024). The money will be used to advance the 2024 drilling program. Management is confident of increasing the size and grade of the resource base. The project is well positioned to ride the current optimism in the sector.

In 2024, the company began mobilizing crews and equipment to the South Falcon East project commencing the initial Phase 1 program, which will consist of up to approximately 1,500 meters of drilling. Tisdale drilled 442 metres in the first two drill holes with Hole SF-0059 completed to a depth of 221 metres and intersected multiple zones of uranium mineralization over 13.5 metres, confirming the presence of mineralization in the vicinity of historical hole FP-15-05.

Management Team

Alex Klenman – CEO and Director

Alex Klenman has over three decades of rich experience in the private and public sectors in various domains, including marketing, business development, media, finance and corporate communications. Over the last ten years, he has held senior leadership roles at Leocor Gold, Cross River Ventures, Manning Ventures and Nexus Gold. Moreover, as a consultant, he has worked with Roxgold, Forum Uranium, Midnight Sun Mining, Integra Gold and others.

C. Trevor Perkins – Consulting Geologist

C. Trevor Perkins is a geologist with over 25 years of experience planning and executing mineral exploration projects and leading exploration teams. He has worked with Rio Tinto, Cameco Corporation, and UEX Corporation. He has led teams that have made significant uranium deposit discoveries.

Brian Shin – CFO

Brian Shin is a chartered professional accountant in British Columbia and has over 15 years of experience in various roles, including CFO, controller, consultant and auditor.

Mark Ferguson – Director

Mark Ferguson has over 25 years of experience in the trust and finance sector, and has held senior leadership roles at several public and private companies. Previously, he worked with Scotia Bank, Montreal Trust and Computershare Trust Company.

Andrew Brown – Director

Andrew Brown has over 12 years of experience, having served in senior roles at companies listed on TSX Venture and CSE in various sectors, including agriculture, technology, mining and resources.

Jordan Trimble – Advisor

Jordan Trimble is the president, chief executive officer and director of Skyharbour Resources. Under his leadership, Skyharbour has grown from a $2 million shell company to a $90 million market cap as a leading exploration company in the Athabasca Basin. Throughout his career, Trimble has founded and helped manage several public and private companies having worked in the resource industry in various roles specializing in management, corporate finance and strategy, shareholder communications, business development and capital raising. He is a frequent speaker at resource and mining conferences globally and has appeared on various media outlets including BNN and the Financial Post. Trimble holds a Bachelor of Science Degree with a Minor in Commerce from the University of British Columbia, and he is a CFA Charterholder and served a full term as director of the CFA Society Vancouver.