The Vancouver-based resources company obtained the interest under a purchase and termination agreement with its joint venture partner Swift Resources; financial details of the deal were not disclosed.

"Swift agreed to transfer and surrender to Saturn and Saturn has agreed to acquire all of Swift's participating interest and other rights and interests in the joint venture and thereafter terminate the JV agreement and the underlying joint venture [for Saskatoba]," officials said, noting that the transaction is pending regulatory approval.

The Saskatoba Project is made up of more than 1200 square kilometres of coal properties in eastern Saskatchewan as well as western Manitoba.

Saturn has made two coal discoveries in the area since 2009, the Leif Coal Basin and the Karolina Coal Basin. Karolina returned one of Canada’s thickest-ever coal intersections at 88.98 meters beginning at a depth of 44.65m at the Overflowing Coal Property.

Saturn’s energy and mining assets are located in Saskatchewan, Manitoba and British Columbia, Canada.