FOR IMMEDIATE RELEASE
April 11, 2022
PALM BEACH, Fla. — Evolution Metals Corp. has acquired a significant position in UrAmerica, the owner of the largest prospective uranium deposit in Latin America. The transaction comes at a time of increased investment in and geopolitical positioning for uranium, critical minerals and clean energy feedstocks.
UrAmerica Ltd. controls 59 exploration permits and mining concessions, either wholly owned or through JV agreements, covering over 221,000 hectares across the Central Plateau of the Province of Chubut. These assets include the Central Plateau Project (CPP), which encompasses 145,000 hectares and is the largest and highest grade sedimentary hosted uranium deposit in Argentina. Additionally, UrAmerica has identified in situ resources including lithium and heavy rare earth element (REE) within multiple sites, including the CPP, which may be commercially viable and complement uranium operations.
“This is one major step in Evolution’s vertical integration plan for critical metals production,” said David Wilcox, president & chief executive officer. “America is mineral insecure and we are doing our part to change that reality. Industry leaders, including Elon Musk, have publicly remarked on the importance of this issue. Evolution and UrAmerica are positioned to have a positive impact on energy transformation materials’ dependencies.”
This transaction represents the first known American investment in Argentina’s nuclear power sector, which has traditionally been dominated by Russia and China. The announcement comes only months after a renewed commitment between the government of Argentina and Chinese state-owned China National Nuclear Corporation for the development of the Atucha 3 nuclear power plant in Lima, Argentina.
Omar Adra, UrAmerica’s founder and chief executive officer, said “This partnership announcement is representative of the strategic metals alliance forming between Argentina and the United States.”
About Evolution Metals Corp.
Evolution is a mining, refining and specialty chemicals company that it is committed to establishing a secure and reliable supply chain for critical minerals. Its strategy is to acquire and develop feedstocks and processing facilities to produce essential materials for industrial uses including electric vehicles, electronics, environmental technologies and for aerospace and defense applications.
About UrAmerica Ltd.
UrAmerica ltd. is a private mining company, incorporated in UK, primarily focused on uranium but also containing critical metals such as lithium, rare earths, molybdenum and vanadium in the largest consolidated and highly prospective package of licenses in Patagonia, Argentina. Critical metals are key for electric vehicle production, battery making, renewable energy systems and technology manufacturing.