Stearman Completes Private Placement and Acquisition of NeoCore Uranium Ltd.
VANCOUVER, BRITISH COLUMBIA – July 14, 2025 – Stearman Resources Inc. (CSE:STMN) is pleased to announce that it has closed the non-brokered private placement of 2,000,000 units at a price of $0.05 per unit for gross proceeds of $100,000.
The Units issued consist of one common share and one common share purchase warrant. The Warrants entitle the holder to purchase one additional common share at a price of $0.07 per share on or before July 14, 2027. The Company will use the net proceeds for general corporate purposes.
NeoCore Acquisition Completed
The Company has completed the acquisition of 100% of the issued and outstanding common shares of NeoCore Uranium Ltd. pursuant to a definitive share exchange agreement dated June 16, 2025. The Company issued the former NeoCore shareholders an aggregate of 7,500,000 common shares at a deemed price of $0.05 per share.
The securities issued are subject to a statutory hold period of four months plus one day. The Company plans to file a Business Acquisition Report in accordance with securities regulations within the prescribed time.
Effective on closing the Acquisition, Mr. Kirby Renton was appointed to the Company's Board of Directors. Mr. Renton is a highly experienced business leader with a strong focus on business development, marketing and sales, and comprehensive project management. Currently, as a Consulting Landman for Novacor Exploration, he is instrumental in facilitating the acquisition of new companies, reviewing legal and production reports, and conducting thorough site and equipment assessments. From 2022 to 2024, Kirby served as a Director at Foundation Auto Group, where he spearheaded business development for cutting-edge AI technology and software, built and mentored sales teams, developed a robust fleet business, and managed contractual agreements for dealer acquisitions and fleet programs.
About NeoCore Uranium
NeoCore is a privately held BC company based in Vancouver, British Columbia. NeoCore owns a 100% interest in the NeoCore Uranium Property consisting of six mineral claims covering 13,012 hectares, located in the Athabasca Basin in northern Saskatchewan. The Property is located on the eastern flank of the Athabasca Basin, about 65 kilometres southeast of the McArthur River Uranium Mine.
The Property is underlain by Neoarchean River Granites, a geologic unit associated with uranium fertility in both Canadian and global analogs. The Property area is directly adjacent to renowned uranium mining and exploration companies including CanAlaska Uranium Ltd., Skyharbour Resources Ltd. and Baselode Energy Corp.
About Stearman Resources
Stearman Resources Inc. is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA. The Company currently has:
- An option on the Miniac Property in Quebec consisting of 78 claims over 4,110 hectares located 35 km north of Amos, prospective for gold, zinc, copper and silver
- An option on the Brassie Creek Property consisting of 9 mineral claims covering 1,862 hectares, located 48 kilometres west of Kamloops, BC, prospective for copper, gold and silver
For further information, please contact Howard Milne, CEO at 604-377-8994 or hdmcap@shaw.ca
Mineral Resource Cautionary: The Company has not defined any mineral resources or mineral reserves on any of its properties. There is no guarantee that exploration will result in the discovery of an economic mineral deposit.
Adjacent Properties: References to mineralization, deposits, mines, and resources on adjacent or nearby properties are for geological context only. Mineralization on adjacent properties is not necessarily indicative of mineralization on the Company's properties.