pegasus resources and cowboy exploration cancel the chord option agreement in fall county, south dakota

December 03, 2022 – Pegasus Resources Inc. (TSX-V: PEGA; Frankfurt – OQS2, OTC/Pink Sheet symbol SLTFF) (the “Company” or “Pegasus”) reports that Pegasus and Cowboy Exploration and Development LLC (“Cowboy Exploration”) have mutually agreed to cancel the Chord Option Agreement in Fall County, South Dakota, previously announced April 12, 2022.

Opposition to uranium projects in South Dakota was considered low when Pegasus and Cowboy Exploration initially signed the agreement for the Chord Project. However, in late September 2022, Pegasus opened negotiations with Cowboy Exploration when the Company became concerned with an increased anti-mining sentiment in Fall County, specifically toward uranium exploration and development. Since then, Fall River County voters have declared uranium mining a nuisance. 

Pegasus and Cowboy Exploration failed to negotiate an agreement that was satisfactory to all parties, and, therefore, mutually agreed to terminate the agreement.

About Pegasus Resources Inc.

Pegasus Resources Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on uranium, gold, and base metal properties in North America. The Company is also actively pursuing the right opportunity in other resources to enhance shareholder value. For additional information please visit the Company at www.pegasusresourcesinc.com or contact Charles Desjardins at charles@pegasusresourcesinc.com.

On Behalf of the Board of Directors:

Christian Timmins
President and Director
Pegasus Resources Inc.
700 – 838 West Hastings Street
Vancouver, BC V6C 0A6
PH: 1-604-369-8973
E: info@pegasusresourcesinc.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements 

Statements included in this announcement, including statements concerning the Company’s plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-looking statements.” Forward-looking statements may be identified by words including “anticipates,” “believes,” “intends,” “estimates,” “expects” and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statement