Trading Symbol: (TSX - V): URC
VANCOUVER, Jan. 10 /CNW/ - Uracan Resources Ltd. (the "Company") is
pleased to announce that it has made the final payment of $1,000,000 to
Sheridan Platinum Group Ltd. (the "Vendor") to obtain an undivided 100%
interest in the 903 square kilometre North Shore Property, subject to a net
smelter royalty retained by the Vendor as previously disclosed.
In addition the Company is pleased to announce that it has staked
additional claims in the North Shore Property area. An airborne geophysics and
radiometrics program was completed during the summer of 2007 over the
north-eastern portion of the claim group. Numerous new large uranium anomalies
have been outlined in this radiometric survey, several of which extended
beyond the existing property boundaries. A map showing the new claims can be
viewed on the Uracan website: www.uracan.ca.
Approximately 175 square kilometres of new claims have been staked to
cover these areas of potential uranium mineralization lying outside the
previously existing claim boundaries. The current total surface area covered
by the old and new claims comprising the North Shore Property is approximately
1,075 square kilometres. Further work is planned during 2008 to evaluate the
uranium anomalies outlined in these newly staked areas.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. The foregoing
information may contain forward-looking statements relating to the future
performance of Uracan Resources Ltd. Forward-looking statements, specifically
those concerning future performance, are subject to certain risks and
uncertainties, and actual results may differ materially. These risks and
uncertainties are detailed from time to time in the Company's filings with the
appropriate securities commissions.
For further information:
For further information: Gregg J. Sedun, President and CEO OR Marc
Simpson, Exploration Manager, (604) 682-5580; Keith Schaefer, Vanguard
Shareholder Solutions Inc., (604) 608-0824, www.vanguardsolutions.ca