Apex Uranium Mine

Nevada’s largest past-producing uranium mine

Historic Contribution

50%

of the historic uranium output for the state of Nevada*

Historic Grade

~0.25% U₃O₈

average historic production grade*

Historic Production

~106,00 lbs

of U₃O₈ sold in 1950s; no development since*

*Plut, 1979 “Geology of the Apex Uranium Mine Near Austin Nevada” (pg 1)

About the Apex Uranium Mine

Location

275km from Reno on HWY 50

Access

15 min from Highway 50 + well-developed local roads

Ownership

100%

Size

2.4 km x 1.4 km (326 Ha)

Infrastructure

Roads, Water, Electricity, Logistics base

NSR

3% NSR that can be acquired into royalty company to benefit Kraken Shareholders

Historic work includes sampling, diamond drilling and underground working

1953
1953
Uranium discovered south of Austin, Nevada; 118 feet of underground workings driven to “cut a corner of the Rundberg orebody”¹
1955
1955
Apex Minerals Corp acquires 20-year lease on the property ¹
1955 onward
1955 onward
“intense development campaign of bulldozing on the surface, driving tunnels, raising and drilling have opened six large orebodies of uranium ore” ¹
1956
1956
Shipments of ore begin to processing plant in Salt Lake City ¹
1957
1957
Size of ore body reportedly triples after drilling; discovery of Diamond zone, including 1.00% U₃O₈ samples at surface ¹
Oct 1957
Oct 1957
U.S. Atomic Energy Commission announces end to uranium mining incentives and slowdown in ore purchases ²

Significant development: near road, water, electricity, logistics base

~800 m (2,625 ft) of underground adits, drifts, raises and stopes¹

Four major adits accessing mineralization on three levels¹

15 minutes’ drive off Highway 50 on well-developed local roads

Historic Recognition

It’s not just a uranium mine, it’s THE uranium mine in continental United States. Orebodies in this Austin (Apex) property show width, massiveness and consistency… that I have not seen in any other continental U.S. uranium mine.

Nevada Bureau of Mines

Source: Nevada Bureau of Mines File 38900042,
Report on Mines of Apex Minerals Corporation 1956, by Harry H. Hughes, Mining Geologist.

Drill data acquired and digitized; shows significant mineralized intercepts

¹ Nevada Bureau Mines File 60000269, Report on Mines of Apex Minerals Corporation 1957, by Harry H. Hughes, Mining Geologist. (pgs. 17 to 20) Link >
² Nevada Bureau Mines File 60000269, Report on Mines of Apex Minerals Corporation 1957, by Harry H. Hughes, Mining Geologist. (pg. 4) Link >
³ Nevada Bureau Mines File 38900096, Transverse Section Through Drilled Orebody, Apex Minerals Corp 1959, by Harry Hughes, Mining Geologist. Link >
⁴ Nevada Bureau Mines File 38900084, Plan map of underground workings, sampling and drill holes at the Apex mine 1959, by Harry Hughes, Mining Geologist. Link>

Multiple samples reported with grades over 0.5% U₃O₈ and up to 3.19% U₃O₈

250-tonne bulk sample from Adit 2 assayed at 0.7% U₃O₈ or better ¹
“New discovery” in Adit O assayed at up to 3.19% U₃O₈ ³
Drill hole ‘H’ averaged 1.33% U₃O₈ over 3 m; similar values found in “each succeeding hole drilled westerly from this ‘H’ hole” ¹
Grab samples from “Diamond Pit” hilltop reportedly ran 1.00% U₃O₈; a 6.4 m t cut across the pit-face reportedly assayed 0.41% U₃O₈ ²

¹ Nevada Bureau Mines File 60000269, Report on Mines of Apex Minerals Corporation 1957, by Harry H. Hughes, Mining Geologist. (pg. 4 to 6) Link >
² Nevada Bureau Mines File 38900097, Generalized Longitudinal Section through the Apex mine and Diamond pit 1957, by Arthur Lakes. Link >
³ Nevada Bureau Mines File 60000269, Report on Mines of Apex Minerals Corporation 1957, by Harry H. Hughes, Mining Geologist. (pg. 8) Link >

Silver, gold and copper all reported to occur within the Apex Mine area

Silver grading 7,300 g/t produced at the Apex mine in 1937 ¹

Gold grading 15 g/t reported from 1980s sampling at the Apex mine 2

“blebs of bornite and chalcopyrite are associated with the primary uranium minerals” 3

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