Utah's Forgotten Uranium Belt Is Getting a Second Look. Here's Why the Timing Matters.
Issued on behalf of EagleOne Metals Corporation
VANCOUVER, BC, March 23, 2026 /CNW/ -- Equity-Insider.com -- Thirty-five miles south of Hanksville, Utah, in the heart of some of the highest-grade historical uranium country in the American West, there's a 206-acre property that was drilled once in 2008, returned mineralized intercepts across six commodities, and then sat untouched for nearly two decades.
It's not hard to understand why. Uranium spent most of the 2010s in the penalty box. Spot prices languished below $30 per pound. Nobody was acquiring uranium ground in Utah. Nobody was funding exploration for rare earths in the Colorado Plateau. The economics didn't work, and the geopolitical urgency didn't exist.
Both of those conditions have reversed. Uranium is now approaching $92 per pound. The IEA projects a 30% copper supply shortfall by 2035. Rare earth supplies outside China cover less than 40% of projected demand. And the U.S. government has committed more than $30 billion to secure critical mineral supply chains in just the past six months, including a $12 billion Project Vault strategic stockpile and a $2.7 billion DOE enrichment expansion.
The companies best positioned for this environment are the ones that already hold ground. Cameco (TSX: CCO) (NYSE: CCJ), the world's largest publicly traded uranium company, recently partnered with the U.S. Government and Brookfield to accelerate Westinghouse nuclear reactor deployments -- backed by $80 billion in aggregate government investment. Cameco is extending its Cigar Lake mine to 2036 and ramping McArthur River toward 25 million pounds annually. The market is paying $1,416 per pound of Cameco's future uranium capacity.
NexGen Energy (TSX: NXE) (NYSE: NXE) is building what it positions as the world's largest and lowest-cost uranium mine at Rook I in Saskatchewan's Athabasca Basin. With estimated production costs under $10 per pound and spot uranium near $92, the margin thesis is extraordinary. NexGen raised C$800 million for construction and expects its Canadian Nuclear Safety Commission hearings this year. Denison Mines (TSX: DML) (NYSE: DNN) announced a final investment decision in March 2026 to construct the Phoenix in-situ recovery uranium mine at Wheeler River -- 56.7 million pounds of proven and probable reserves, a projected IRR exceeding 80%, and production targeted for 2028 using a method that costs 15–70% less than conventional mining.
On the rare earth side, MP Materials (NYSE: MP) operates the only scaled rare earth mining and processing site in North America at Mountain Pass, California. As Beijing tightened export controls on seven strategic rare earth elements in early 2026, MP's position as the Western hemisphere's primary source of NdPr oxide became acutely strategic. The company is building downstream magnet manufacturing capacity to supply EV and defense customers directly.
These are billion-dollar companies operating in the same commodity environment that just created an opportunity at the opposite end of the valuation spectrum.
EagleOne Metals Corporation (CSE: EAGL) (FSE: IJ2) recently signed a binding Letter of Intent to acquire 100% of the Poison Springs Uranium/Rare Earths Project in Utah for US$50,000. The 206.6-acre property returned mineralized intercepts across uranium, copper, silver, cobalt, nickel, and rare earth elements neodymium, praseodymium, and europium from a single 2008 drill campaign. Both uranium and REEs appear on the U.S. Critical Minerals List. Historical drilling by Cotter Corporation in nearby Hatch Canyon during 1978–1979 confirmed widespread mineralization across the broader region. Follow-up targets sit at less than 100 metres depth. A Triassic Chinle formation target carries additional potential for copper, vanadium, zinc, nickel, cobalt, and REEs.
The Utah play is one piece of a broader portfolio. EagleOne's 100%-owned Hébécourt Township property in Quebec's Abitibi Greenstone Belt -- a jurisdiction that has produced over 200 million ounces of gold historically -- returned two priority anomalies targeting gold and copper. The adjacent Magusi West project produced gold anomalies up to 0.156 ppm and copper anomalies up to 186 ppm across 618 soil samples. And through a non-binding LOI with Surupampa Metals, EagleOne has a path to a Peruvian copper-gold asset.
Four properties. Three countries. Gold, silver, copper, uranium, and rare earth elements. A C$240,000 financing pending. Market capitalization: approximately C$5 million.
The structural deficit across uranium, copper, and rare earths is no longer a forecast. It's the primary driver behind the largest government mineral investment in American history. EagleOne Metals (CSE: EAGL) is assembling multi-commodity critical minerals exposure at the exact moment the policy environment and the price environment are converging -- and the market hasn't priced it in yet.
Read this and more on EagleOne at: Equity-Insider.com
Article Source: https://usanewsgroup.com/2026/03/12/exploring-the-minerals-powering-the-digital-and-energy-future/
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SOURCES:
- Critical Minerals Institute, February 2026 -- https://investornews.com/market-opinion/the-critical-minerals-report-02-22-2026-the-price-floor-era-arrives-for-rare-earths-and-uranium-coppers-midstream-problem-and-graphite-trade-walls/
- Bloomberg, Project Vault -- https://www.bloomberg.com/news/articles/2026-02-02/trump-launches-12-billion-minerals-stockpile-to-counter-china
- CarbonCredits.com, Uranium Prices 2026 -- https://carboncredits.com/uranium-prices-2026-supply-crunch-and-rising-demand-fuel-a-nuclear-bull-market/
- U.S. State Department, 2026 Critical Minerals Ministerial -- https://www.state.gov/releases/office-of-the-spokesperson/2026/02/2026-critical-minerals-ministerial
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