Aurora Energy Metals Backs Eagle’s US Nasdaq SPAC Listing to Boost Oregon Uranium Project

A Strategic Leap for Aurora Uranium Project

Aurora Energy Metals Limited has welcomed a significant development in the commercialisation of its flagship Aurora Uranium Project (AUP) in southeast Oregon. Eagle Energy Metals Corp., the US-based subsidiary holding the AUP, has announced a proposed merger with Spring Valley Acquisition Corp. II, a Nasdaq-listed special purpose acquisition company (SPAC). This transaction aims to list Eagle on the Nasdaq under the name ‘Eagle Nuclear Energy Corp’, marking a major milestone for both companies.

Unlocking Capital and Market Exposure

The proposed SPAC merger is more than a listing exercise; it triggers a US$16 million payment to Aurora Energy Metals alongside a 1% Net Smelter Royalty on future uranium production from the project. This infusion of capital and the public listing on a major US exchange are expected to accelerate development activities and enhance visibility among investors focused on the nuclear energy sector.

Technical Progress and Compliance Alignment

Currently, Eagle is funding up to US$250,000 to support ongoing technical work on the AUP, including converting its existing JORC-compliant resource estimate to SK-1300 compliance. This conversion is a critical regulatory step required for listing on a US exchange and will align the project’s resource reporting with American standards, potentially broadening its appeal to US investors and stakeholders.

Strategic Fit Amid Growing US Uranium Demand

Aurora views Eagle’s proposed listing as a strong endorsement of the AUP’s strategic importance, particularly given the increasing US focus on securing domestic uranium supplies to support nuclear energy expansion. The transaction is led by the same sponsor group behind a successful 2022 SPAC merger with NuScale Power Corporation, a leader in small modular reactor technology, underscoring the growing momentum in the clean nuclear energy sector.

Looking Ahead

While the merger and listing remain subject to regulatory approvals and market conditions, Aurora continues to work closely with Eagle and will provide updates as progress unfolds. The company’s retained interest through the option agreement ensures it remains well positioned to benefit from future milestones and the broader US nuclear energy market dynamics.