CALGARY, May 19 /CNW/ - Uravan Minerals Inc. ("Uravan") (TSXV: UVN) and
the Queen's Facility for Isotope Research (QFIR) have entered into a
collaborative research study with AREVA Resources Canada Inc. (AREVA). The
proposal involves conducting a surface sampling geochemical survey
(geochemical orientation survey) over part of the Cigar Lake uranium deposit.
The Cigar Lake deposit is on the Waterbury/Cigar uranium property (a joint
venture partnership between Cameco Corporation, AREVA, Idemitsu Kosan Co.
Ltd., and Tokyo Electric Power Co. (TEPCO)) located in the Athabasca Basin,
Saskatchewan. The purpose of the sampling program is to develop new innovative
exploration technologies that will identify the surface expressions of deeply
buried unconformity related uranium deposits. The field-based multi-faceted
sampling program will be completed in early summer 2009. The Cigar Lake
geochemical orientation survey will be carried out and funded by Uravan.
Uravan's vision is to leverage new technology for the rapid and cost
effective exploration of its current and future land positions located in
sandstone basins that are known, or anticipated, to host large unconformity
related uranium deposits such as its Boomerang and Garry Lake uranium
properties in the Thelon Basin and its planned future land positions in the
Athabasca Basin. Uravan is focused on the development of new exploration
technologies that will lead to the discovery of the next generation of large
high-grade uranium deposits hosted in ancient sandstone basins. The
development of successful new technologies for the exploration of buried
uranium deposits is one of Uravan's key business strategies.
To advance this vision, in 2008 Uravan entered into a multi-year
collaborative research agreement with QFIR at Queen's University. QFIR was
established in 1997 under the direction of Dr. Kurt Kyser. Research interests
at QFIR include stable isotope geochemistry, evolution of fluids in basins,
low-temperature geochemistry, geochronology and fluid-rock interactions. The
focus of the Uravan-QFIR collaborative work is the study of uranium deposit
geology, and the development of new biogeochemical, and lithogeochemical
exploration techniques that will assist in imaging buried high-grade uranium
About Uravan Minerals Inc.
Uravan is a Calgary; Alberta based R&D mineral exploration company
specializing in uranium exploration. Uravan is focused on pursuing exploration
for potential high-grade unconformity related uranium deposits on its joint
Cameco-Uravan Boomerang uranium project and its Garry Lake uranium project
plus the acquisition of other potential uranium properties or opportunities
that may exist. Uravan is a publicly listed company on the TSX Venture
Exchange under the trading symbol UVN. Uravan has 26,707,614 shares
outstanding and approximately $9.0 million in working capital. All of the
mineral properties Uravan owns are considered in the exploration stage of
This press release may contain forward looking statements including those
describing Uravan's future plans and the expectations of management that a
stated result or condition will occur. Any statement addressing future events
or conditions necessarily involves inherent risk and uncertainty. Actual
results can differ materially from those anticipated by management at the time
of writing due to many factors, the majority of which are beyond the control
of Uravan and its management.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Larry Lahusen, CEO, Uravan Minerals Inc., Tel:
(403) 264-2630, Email: email@example.com, Website: