Cameco Suspends Cigar Lake Mining After McClean Lake Mill Shutdown

Sceptre Ventures Inc. and 1490660 B.C. Ltd. have entered into a non-binding letter of intent dated October 8, 2026, under which Sceptre will acquire the outstanding securities of 1490660 in a reverse takeover that will constitute Sceptre's Qualifying Transaction as a Capital Pool Company. The LOI contemplates a definitive agreement by November 30, 2026, with Sceptre acquiring all issued and outstanding securities of 1490660 on a 1 for 1 exchange ratio, and the Resulting Issuer continuing 1490660's business under the name Evolution Uranium Corp. and listing as a Tier 2 Mining Issuer on the TSX Venture Exchange. 1490660 is a privately held Canadian mineral exploration company whose principal properties are the Black Birch Lake Property and the Rifle Property, both in Saskatchewan, and its outstanding capital consists of 17,000,100 common shares and 15,000,000 share purchase warrants. In connection with the Proposed Transaction, Sceptre intends a concurrent financing of up to 6,000,000 units at $0.50 per unit for gross proceeds of up to $3,000,000, each unit comprising one Sceptre share and one Sceptre warrant exercisable at $0.75 for two years. Assuming completion of the Concurrent Financing, approximately 26,001,753 Sceptre Shares and up to approximately 21,000,000 Sceptre Warrants will be outstanding, with former 1490660 shareholders holding approximately 65.38%, Concurrent Financing placees approximately 23.08%, and former Sceptre shareholders approximately 11.54% of the Resulting Issuer Shares on an undiluted basis. Trading in Sceptre's common shares has been halted and is expected to remain halted until completion of the Proposed Transaction.

ATHA Energy Corp. reported that its 2026 Angilak Exploration Program has connected the RIB North and RIB East Discoveries, expanding the mineralized strike length along the Eastern Limb of the Mineralized RIB Corridor from 1.45 km to 3.4 km. The company completed 23 diamond drillholes in the campaign, 21 of which intersected uranium mineralization, and all seven of the final holes, RIBN-DD-017 through RIBN-DD-023, hit mineralization. The highlight hole, RIBN-DD-023, intersected 19.5 m of total composite uranium mineralization over fourteen zones from 180.0 m to 777.5 m, including 2.0 m of high-grade mineralization, and forms part of a newly identified higher-grade, thicker sub-zone near RIBN-DD-001 that currently has an approximate 300 m strike length and 300 m down-dip extent. RIBN-DD-019 returned some of the highest-grade mineralization to date at RIB North, intersecting 2.5 m of total composite uranium mineralization over three zones from 319.5 m to 740.5 m, including 0.6 m of high-grade mineralization. The company said the sub-zone and the entire Eastern Limb of the corridor remain open and unconstrained, and that assay samples have been submitted to SRC laboratories, with additional preliminary results from the Lac 50 Deposit Corridor expected in the coming weeks.

Premier American Uranium Inc. reported that initial drilling at the West Diane target of its wholly-owned Kaycee Project in Wyoming's Powder River Basin intersected uranium mineralization in six of eight holes, including 10 ft grading 0.064% eU₃O₈ in drillhole WD26-012. As of September 25, 2026, the company has completed 80 conventional mud-rotary drillholes totaling 65,620 ft, representing approximately 66% of its planned 100,000-ft program, with 30 holes and 23,660 ft added since the last update. At the Rustler target, six of 22 newly reported drillholes intersected mineralization grading at least 0.02% eU₃O₈, including 2.5 ft grading 0.063% eU₃O₈ in RT26-121 and 3.5 ft grading 0.037% eU₃O₈ in RT26-116. Encouraged by those results, PUR secured an additional 1,883 acres of mineral rights north and west of the existing claim block, connecting the Rustler and Stampede claim blocks and bringing its total land package to 31,724 acres. Drilling is currently focused on West Diane, with a return to the expanded Rustler target planned afterward, weather permitting.

Needham initiated coverage of Standard Nuclear with a Buy rating and an $18 price target, sending shares up 10.8% in Tuesday's trading. Analyst Sean Milligan said the bullish thesis rests on the company's early operating and customer-acquisition advantage as the only merchant TRISO fuel fabricator currently making commercial shipments. He expects Standard Nuclear to replicate its modular production platform at SN-TN and SN-ID, converting a rapidly expanding commercial pipeline into funded backlog and scaling utilization as HALEU availability improves. Near-term proof points include U.S. Energy Department authorization, first qualified production from replicate facilities, and the Richland startup in 2027. Milligan noted that funded backlog rose from $8.2M to $119.3M in roughly five months, with total contract backlog of $576.9M and a qualified pipeline of $696M, adding that continued conversion should support utilization as new capacity comes online.