Vanguard Mining Corp. has completed the acquisition of the Yuty Prometeo Project in southeastern Paraguay, significantly expanding its uranium portfolio in South America. The transaction, finalized through a definitive agreement dated June 17, 2025, gives the company control of four concessions spanning approximately 90,000 hectares within the prolific Paraná Basin, one of the continent's most promising uranium regions.
The strategic importance of this acquisition lies in the project's proximity to Uranium Energy Corp.'s established Yuty Deposit, which hosts an indicated resource of 8.96 million pounds of U₃O₈ according to technical reports. The Prometeo Concession, covering 27,666 hectares, is directly contiguous to UEC's Yuty Project, while the three San Jose Concessions encompass approximately 62,210 hectares situated along the Upper Permian–Carboniferous contact zone.
David Greenway, CEO of Vanguard Mining Corp., emphasized the significance of this development, stating that Paraguay offers a unique combination of political stability, investor-friendly policies, and untapped mineral potential that makes it an ideal jurisdiction for long-term uranium exploration. The acquisition strengthens Vanguard's strategic footprint in the Paraná Basin and advances the company's mission to secure critical minerals essential for the global clean energy transition.
The project's potential is supported by historical data, including 28 drill holes on the property with uranium values ranging from 0.05% to 0.10% U₃O₈. Previous work by the Anschutz Corporation suggests the Prometeo block lies on trend with UEC's adjacent Transandes block, while radiometric surveys conducted over the San Jose concessions have delineated significant uranium anomalies across the property.
UEC's adjacent Yuty ISR Project, covering approximately 117,359 hectares, hosts substantial uranium resources as detailed in its technical report titled Yuty Uranium Project Initial Assessment US SEC Subpart 1300 Regulation SK Report, Paraguay SA dated July 1, 2022. The project has been identified as amenable to in-situ recovery extraction methods, though Vanguard cautions that mineralization on adjacent properties may not necessarily indicate similar results on its own projects.
This acquisition follows Vanguard's previous announcements regarding the engagement of senior geologist Ariel Testi to prepare an initial NI 43-101 technical report and the execution of a definitive share purchase agreement to acquire 100% of 1302343 B.C. Ltd., which holds an 85% interest in Paraguay Uranium S.A. The company also announced the issuance of 800,000 Restricted Share Units to officers and directors, valid until September 1, 2026.
The expansion into Paraguay represents a strategic move in the global uranium market, as countries worldwide seek to secure reliable supplies of nuclear fuel for clean energy generation. Paraguay's emerging mining jurisdiction, characterized by political stability and investor-friendly regulations, positions Vanguard to potentially contribute to meeting the growing demand for uranium driven by the global transition to low-carbon energy sources.
