Canadian developer Triton Uranium announced Tuesday it has completed four technical reports for its Atlas project in Saskatchewan, outlining low-grade, open-pit uranium potential of up to 46.56 million pounds of uranium (U₃O₈), within satellite occurrences and exploration target areas across the property.
The large, low-grade open-pit model has optimized the resource estimate for the Red Rock deposit, which includes an Indicated Mineral Resource of 276,702 tonnes grading 0.087% U₃O₈, containing approximately 531,052 pounds of U₃O₈, as well as, an Inferred Mineral Resource of 20,946 tonnes grading 0.060% U₃O₈, containing approximately 27,840 pounds of U₃O₈.
The Atlas Project is located within Saskatchewan’s historic Beaverlodge Uranium district, which has produced approximately 77.8 million pounds of U₃O₈ to date.
The project area adjoins several historically productive uranium mining centers, including the Ace-Fay-Verna mining complex, which produced approximately 50.4 million pounds U₃O₈ as well as other centers such as Dubyna and Cinch – Cenex which occurred within or adjacent to Triton’s approximately 46,000-acre land position.
The Atlas project is located in Saskatchewan’s Uranium City, an area which has been dormant for 44 years. Triton plans to revive the area to provide a scalable, North American supply.
The news comes as Canada and the US accelerate efforts to strengthen a continent-wide critical-minerals supply chain under the Canada-US Critical Minerals Action Plan.
Canada, the world’s second largest producer behind Kazakhstan,is advancing its nuclear ambitions, aiming to double uranium exports by 2035, announcing new reactor builds, SMR development and refurbishment programs driving growing demand for a secure domestic uranium supply.
Against this backdrop, the nuclear industry is entering a new era of growth as governments and utilities seek to secure the uranium supplies needed to support the nuclear renaissance while reducing exposure to geopolitical and supply-chain risks.
Triton’s exploration program continues to expand the understanding of the Atlas project’s exploration potential. A recently completed airborne radiometric survey identified approximately 11,035 meters strike or area of new close-to-surface open-pit prospective targets across the property.
These targets are now being evaluated through a current 10,000-metre drill program, with additional drilling planned for the winter 2026/2027 campaign, the company said, adding that significant portions of its land package remain underexplored.
Triton’s approach leverages historical mining activity in the region while applying modern extraction and processing technologies. The company said it anticipates that its infrastructure-ready model will enable faster permitting processes and reduced construction phases compared to remote greenfield developments.
Once in full operation, the Atlas project will be the continent’s only low-cost, open-pit uranium mine, the company said.
“With demand for nuclear power growing, Saskatchewan has a critical role to play as a reliable, allied source of uranium for Canada and the United States,” Triton Uranium president Scott Evans said in a news release. “These technical reports are an important step toward realizing that opportunity.”
