With uranium prices pushing to new multi-decade highs, North American explorer Sienna Resources (TSXV: SIE) (OTC Pink: SNNAF) (FSE: A1XCQ0) has made a strategic acquisition in the world’s most prolific uranium mining region.

The company recently announced it had acquired the Dragon Uranium project, located in the Athabasca Basin in northern Saskatchewan. Sienna’s 10,845 acre Dragon project is located next to the world’s highest-grade uranium mine- Cigar Lake- which is operated by the world’s largest uranium producer Cameco ($CCO).

Jason Gigliotti, President of Sienna Resources stated: “Uranium prices have hit a 16 year high and management feels that diversifying into uranium while keeping our lithium focus, makes sense. Establishing a large footprint in the most prolific uranium address on the globe bordering the biggest name in uranium, Cameco, provides Sienna and Sienna shareholders with exposure to the best performing sector in mining in the past year.”

Demand for uranium continues to surge as market supply continues to tighten. The rapid rise in the price of uranium, which recently passed $100 per pound, is being driven by supply shortages and adoption of new technologies like small modular reactors.

Shares of Sienna Resources trade on the OTC under the ticker symbol SNNAF as well as in Canada under the symbol SIE. For more information visit www.siennaresources.com. 

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