Bayridge Acquires 51% Interest in Baker Lake Uranium Project

Bayridge Expands Uranium Portfolio with Baker Lake Acquisition

Bayridge Resources strengthens its uranium portfolio by acquiring a 51% interest in the Baker Lake uranium project. The binding share purchase agreement involves 5.6 million common shares valued at $1.4 million. Baker Lake, an advanced exploration asset, sits 60 km south of the town of Baker Lake in Nunavut. The project spans 619 km² across 83 contiguous claims in the Paleoproterozoic uranium district, near ATHA’s Angilak and Orano’s Kiggavik deposits.

Modern exploration at Baker Lake totals $7 million, showing strong geological parallels to the Angilak camp. A 2008 survey identified 30 high-priority uranium targets, and historical drilling returned multiple significant intercepts. Bayridge mapped 20 uranium prospects along 75 km of the Baker Basin unconformity. Several unexplored high-priority drill targets remain along untested electromagnetic conductors.

The acquisition also includes a joint venture with Privco under standard industry terms. Bayridge will appoint one director to Privco’s board, while Privco may appoint a director to Bayridge Resources. The company holds first right of refusal over the remaining 49% of Privco shares after closing. Following the transaction, Privco owners will hold a 43% interest in Bayridge Resources.

Strategic Implications for Bayridge Uranium Exploration

The Baker Lake acquisition complements Bayridge’s existing assets, including its Waterbury East uranium project in the Athabasca Basin, Saskatchewan. The deal positions Bayridge for significant growth in North America’s uranium sector. Moreover, it strengthens the company’s exposure to high-grade exploration regions while maintaining strategic governance influence through board appointments and JV participation.

SuperMetalPrice Commentary:

Bayridge Resources’ majority stake in Baker Lake reflects growing investor interest in uranium amid global energy transition trends. The project’s proximity to existing high-grade uranium districts enhances its strategic value. Early exploration results and high-priority drill targets indicate strong potential for new discoveries. Investors should watch Bayridge’s drilling updates closely as the Baker Lake project may play a critical role in North America’s nuclear fuel supply chain.