UrAmerica in Paraguay - Discovering Uranium in Latin America

PARAGUAY

Location

UrAmerica's Paraguay Project consisits of 3 exploration permits, covering 229,205ha, and is located approximately 300km SE of the capital city of Asunción. The project area is primarily covered by tall grasses and is accessible by National Roads N°1 and N°8, or by aircraft. Local infrastructure exsists, including electrical power, phone network, building equipment in nearby towns, and industrial and potable water.

As shown in the figure below, the 3 exploration permits lie within the departments of Guaira, Caazapá, and Itapua.

Map of UrAmerica's Paraguay Project

Geological Setting & Mineralization

UrAmerica's Paraguay Project is situated in the western part of the Parana Basin, which also hosts the Figueira Uranium Deposit in Brazil. The area is underlain by upper Permian carboniferous continental sedimentary rock of the Independencia Formation. These units are known to have high potential for sandstone hosted uranium mineralization as proven by previous explorartion. The source of the mineralization is thought to be the lower Permia-Carboniferous glacial marine sequences of the Coronel Oviedo Formation

Exploration

Uranium exploration in southeastern Paraguay was started in 1976 by the Anschutz Corporation. Airborne radiometric surveys, regional geological mapping and geochemical sampling were used to detect various areas of mineralization in the region. Later, core and rotary drilling was carried out by UrAmerica's predecessor, Wildhorse Exploration S.A., the Paraguayan branch of Wildhorse Energy Ltd. As a result, an inferred resource was delineated of 2M lbs U3O8 at 800ppm.

The figure below shows a close up of UrAmerica's exploration permits in Paraguay and the known mineralized areas in the region. Neighboring companies have also been able to define substantial resources through drilling campaigns, only confirming the prospectivity of UrAmerica's land postion.