Metals One (MET1 ) has signed an agreement with DISA Technologies Inc to evaluate and, if successful, treat historically abandoned uranium mine waste dumps and recover saleable uranium and other critical mineral concentrates at Metals One's 100%-owned Uravan Belt uranium-vanadium project in Colorado.
The Uravan project was acquired by Metals One in July 2025.
It comprises 59 unpatented mining claims covering around 490 hectares, and is situated near the historic Buckhorn mine within the renowned Uravan mineral belt.
The Uravan district yielded more than 60 million pounds of uranium and 330 million pounds of vanadium production during the 20th century.
Within the Uravan project there are eight separate abandoned uranium mine waste dumps suitable for potential recovery.
In September 2025, Metals One returned grades of up to 41,768 parts per million uranium from historic waste material from rock chip sample assays.
This agreement with DISA expands on an existing relationship, as the two companies also work in conjunction on Metals One’s 75% -owned Radium Mountain and Wedding Bell claims, also in Colorado.
Under the terms of the deal with DISA, Metals One will be paid a gross revenue share of saleable uranium and other critical mineral concentrates recovered from waste dumps at the Uravan project via deployment of DISA's modular mobile plants.
No capex or opex is payable by Metals One.
DISA will be operator of these Uravan projects and will pay all associated costs of permitting, evaluation, treatment and ongoing remediation.
"The Uravan Project sits within one of the United States' most prolifically mined uranium belts,” said Daniel Maling, managing director of Metals One.
“Assays from Metals One's initial exploration activities last year indicate the exceptional grades historically mined from within the project, with multiple samples containing uranium and vanadium at ore-grade levels. It follows that there is a significant opportunity to apply DISA's breakthrough process to remediate abandoned uranium mine waste from the identified sites and recover valuable uranium and critical minerals whilst improving the environmental legacy from historical mining. We're delighted to expand our relationship with DISA to our other Colorado uranium project which represents another near-term revenue generation opportunity with no capex or cost exposure for Metals One. DISA has made strong early progress in advancing its work on the Radium Mountain and Wedding Bell Claims. Their teams are due to sample various sites in the coming weeks. They expect to have gamma walkover data by the end of this month and assay results by end-Q3."
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There are several key aspects to this deal with DISA, not the least of which is that there will be no capital outlay from Metals One, and no requirement for any input into operating expenses either. In that sense, it’s an easy win for the company. There is strong US Government support for domestic recovery of uranium and critical minerals from legacy mine waste, and DISA has a highly advanced technology to allow it to do so. This technology removes significant waste material from the local environment as well as providing cashflow to the project’s owners and operators – a double win.