Trading Symbol TSX-V - ESO
Frankfurt - E2G
VANCOUVER, Nov. 4, 2011 /CNW/ - ESO Uranium Corp. (TSX-V: ESO), (the "Company" or "ESO"), has announced a non-brokered private
placement that consists of 3,000,000 flow-through units ("FT Unit") to
be issued at a price of $0.10 per FT Unit (the "offering"), for a total
of $300,000. The private placement is subject to Exchange acceptance,
and all securities shall be subject to a four (4) month hold period.
Each FT Unit consists of one flow-through common share and one share
purchase warrant (a "Warrant"), where each Warrant entitles the holder
to purchase one non-flow-through common share at a price of $0.12 per
share for a period of 12 months.
The proceeds of the placement shall fund the immediate drill program on
the Patterson Lake South Property in the Athabasca Region of
Saskatchewan. The Patterson Lake South property is a 50%/50% Joint
Venture held with Fission Energy Corp. (TSX-V: FIS). The project covers
13,497 ha (more than 30,000 acres) in 12 mineral claims on the
southwest margin of the Athabasca Basin in the Broach Lake - Patterson
Lake area. The Patterson Lake South Property is accessible by road
with primary access from all weather Highway 955, which runs north to
the former Cluff Lake mine (approximately 60 Million pounds Uranium
produced), and passes through the nearby UEX-Areva Shea Creek
discoveries (approximately 100,000,000 lbs uranium in a combined
indicated and inferred resource estimate from 2010) located 50km to the
north, currently under continuing active exploration and development.
The Patterson Lake South Joint Venture project is jointly operated by
Fission Energy Corp. and ESO.
On behalf of the Board of Directors of ESO Uranium Corp.
Please refer to the ESO Uranium website for further and updated
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements: The above contains forward looking
statements that are subject to a number of known and unknown risks,
uncertainties and other factors that may cause actual results to differ
materially from those anticipated in our forward looking statements.
Factors that could cause such differences include: changes in world
commodity markets, equity markets, costs and supply of materials
relevant to the mining industry, change in government and changes to
regulations affecting the mining industry. Forward-looking statements
in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure
issues and mineral recovery processes. Although we believe the
expectations reflected in our forward looking statements are
reasonable, results may vary, and we cannot guarantee future results,
levels of activity, performance or achievements.
SOURCE ESO Uranium Corp.
For further information:
For corporate communications please contact:
Robert (Bob) Meister
ESO Uranium Corp.
Phone: (604) 629-0293
Toll Free: 1-866-629-0293