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VANCOUVER, British Columbia, Sept. 13, 2017 (GLOBE NEWSWIRE) -- Senator Minerals Inc. (TSX.V:SNR) (OTC:SNRAF) (Frankfurt:T1KA) (“Senator” or the “Company”) is pleased to announce that it has completed the acquisition of the Carter Lake Uranium Project, through the purchase of Gunner Minerals Corp. (“Gunner Minerals”), the latter of which holds the right to acquire a one-hundred percent (100%) interest in the Carter Lake Uranium Project. The acquisition was completed after an extensive due diligence program on the project, consisting of a series of site visits, initiating a radon gas survey and the commissioning of a technical report.

The Carter Lake Uranium Project lies near the eastern edge of the Clearwater Domain, approximately 21 kilometres northeast of the Patterson Lake property, held by Fission Uranium Corp.  The Patterson Lake property has a reported resource estimate of 2,011,000 tonnes of 1.83% U3O8 containing 81,111,000 pounds of U3O8 including the R780E High Grade Zone estimated to contain 45,079,000 pounds U3O8 at 18.22% U3O8 and an inferred resource estimate of 785,000 tonnes at 1.57% U3O8 containing 27,157,000 pounds of U3O8 including the R780E High Grade Zone estimated to contain 13,898,000 pounds U3O8 at 25.06% U3O8. (Fission Uranium Corp. PEA September 14, 2015).  Nexgen Energy Ltd. has reported (March 31, 2017) that the Arrow Deposit's mineral resource comprises an indicated mineral resource of 179,500,000 pounds of U3O8 within 1,180,000 tonnes grading 6.88% U3O8, and an inferred mineral resource of 122,100,000 pounds of U3O8 contained within 4,250,000 tonnes grading 1.30% U3O8.

The Carter Lake Uranium Project lies within the Carter Lake Corridor, a structural break in the Athabasca Basin that is parallel to the Patterson Lake Corridor, the structural control of mineralization at both the PLS and Arrow deposits.  The Carter Lake Uranium Project also borders Purepoint/Cameco/AREVA’s Hook Lake Project to the south. The principal exploration target at Carter Lake is approximately 4.7 kilometres of subsurface conductive anomalies, identified in a 2006 MegaTEM survey and a 2008 VTEM survey, both completed by ESO Uranium Corp.  The anomalies are interpreted as a conductive horizon, at or above the unconformity and which may be indicative of hydrothermal enrichment.

Regarding the acquisition, Tim Fernback, President and CEO, commented, “We are very pleased to have secured the Carter Lake Project; prospective ground with defined targets are extremely rare commodities on the west side of the Basin.  With the success of our neighbours and the information we have secured thus far on the Project, we are very optimistic the Company will make a significant discovery at Carter Lake.”  For further information regarding the Company’s due diligence and activities on the Carter Lake Uranium Project, readers are encouraged to review the Company’s news releases of May 29th, June 12th, July 5th, July 13th, August 2nd, and August 30th, 2017.

Following completion of the acquisition Gunner Minerals has become a wholly-owned subsidiary of the Company.  In consideration for the acquisition of Gunner Minerals, the Company paid Cdn$0.227 per share for the 7,500,000 outstanding common shares of Gunner Minerals, which includes a Cdn$100,000 commitment fee advanced to Gunner Minerals in June 2017.  The Carter Lake Uranium Project is subject to a two percent (2.0%) net smelter returns royalty, one-half of which can be purchased in consideration for a cash payment of Cdn$2,000,000.

Peter Born, P.Geo., a Qualified Person, has reviewed and approved the disclosure of technical information within this news release.

For further information contact Tim Fernback at 604-340-3774.

Tim Fernback
President & CEO

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

Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here.  Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances.  These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements.  Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the Company’s most recently filed MD&A.  The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law.  Readers are cautioned not to place undue reliance on forward-looking information or statements.

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