Dark Star Minerals Inc. has announced a non-brokered private placement aimed at raising $250,000 to accelerate its exploration of critical mineral projects in Canada and Namibia.
The financing will see the issue of up to five million units at $0.05 each. Every unit will consist of one common share and half a purchase warrant, with each whole warrant exercisable at $0.075 for two years.
The company said proceeds will be used to advance exploration activities across its portfolio and for general working capital.
All securities will be subject to a four-month-plus-one-day statutory hold.
Management added that any insider participation will be managed under exemptions from Canada’s MI 61-101 related party rules, while the securities are not being offered for sale in the United States.
Alongside the fundraising, Dark Star has bolstered its technical capacity with the appointment of James Sykes to its advisory team.
Sykes, a geologist with over 20 years of experience in uranium and rare earth exploration in Saskatchewan, has been credited with key roles in significant discoveries, including NexGen Energy’s Arrow, Hathor Exploration’s Roughrider, Denison Mines’ Gryphon, and Baselode Energy’s ACKIO.
He currently serves as CEO of Metal Energy Corp. and is a director of American Eagle Gold, Baselode Energy, Kintavar Exploration, and UraEx Resources.
To support his appointment, Sykes has been granted 500,000 stock options exercisable at $0.05 per share for two years.
Marc Branson, President and CEO of Dark Star, welcomed the addition, saying, “We are thrilled to welcome James to the team.
His deep expertise and proven track record in uranium exploration will be invaluable as we continue to build shareholder value through strategic project development.”
Dark Star’s international growth strategy is anchored in Namibia’s Erongo Region, known as one of the world’s foremost uranium provinces.
The company is acquiring 100 per cent of Critical One Energy’s interest in the Cobra North and Khan West projects, both of which are strategically located near producing mines and advanced development projects.
As part of the transaction, Critical One Energy also received shares in Dark Star Minerals, aligning the vendor’s interests with future exploration success in Namibia.
This structure provides Dark Star with both asset ownership and a long-term partner committed to value creation.
Cobra North lies on the western side of the province, close to Rio Tinto’s Rössing mine and China General Nuclear’s Husab operation, two of the largest uranium mines globally.
Historical work has identified radiometric anomalies and surface uranium mineralisation that point to the potential for large-scale alaskite-hosted deposits—the same geological style that underpins Rössing and Husab.
Khan West, situated closer to Swakop Uranium’s Husab mine corridor, benefits from existing infrastructure such as roads, power and water pipelines linked to the Namibian coast at Walvis Bay.
Early-stage surveys have highlighted prospective zones that remain largely underexplored. With uranium prices remaining robust and Namibia cementing its role as a top global producer, Khan West provides Dark Star with exposure to highly prospective terrain in a stable mining jurisdiction.
Together, the two Namibian projects position Dark Star in a neighbourhood that has already yielded world-class uranium mines and is now seeing renewed exploration interest from major and mid-tier companies.
Dark Star Minerals is focused on the acquisition and development of rare earth and uranium projects. In Canada, the company has the option to acquire a 100% interest in the Ghost Lake claims in Labrador’s Central Mineral Belt, covering 28,575 hectares, and has signed a definitive agreement for the Bleasdell Project in northern Saskatchewan.
By pairing new technical expertise with fresh capital, Dark Star aims to accelerate exploration on both sides of the Atlantic, positioning itself to supply the rare earths and uranium essential to the clean energy transition.
