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UraniumX raises $700k for Murphy Lake uranium drilling in Saskatchewan

Uranium oxide

Uranium oxide

12th June 2026

By: Marleny Arnoldi

Online News Editor

     

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Canadian uranium explorer UraniumX has successfully closed an oversubscribed non-brokered private placement, raising $700 000 that it will use for ongoing diamond drilling at the Murphy Lake uranium project in Saskatchewan's Athabasca basin.

The company offered 4.6-million flow-through shares at a price of $0.15 apiece.

The Athabasca basin is one of Canada's most active uranium districts.

UraniumX is earning up to a 70% interest in Murphy Lake through an option agreement with F4 Uranium Corporation.

UraniumX also holds 100% interests in the Zoo Bay and NeoCore uranium properties, and is advancing a project generator approach across its broader portfolio by optioning noncore assets while retaining royalties and equity, allowing the company to concentrate exploration capital on Murphy Lake.

Edited by Creamer Media Reporter

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