SASKATOON, Jan. 18 /CNW/ - United Uranium Corp. (UUC - TSX Venture) and
Star Uranium Corp. (SUV - TSX Venture) (collectively the "Companies") today announced that they have entered into a consulting agreement
with Apex Geoscience ("Apex") of Edmonton, Alberta to conduct an analysis of their jointly held
Fort a la Corne diamond properties in Saskatchewan (the "Claims"). The Claims are situated immediately adjacent to the eastern border
of the Shore Gold Inc. ("Shore") (SGF.T) Fort a la Corne project. Apex will initially analyze
airborne geophysical data to identify potential kimberlites or related
Kyle Kozuska, President of United Uranium Corp. and Star Uranium Corp.
stated "we are very pleased to be working with a world class geological
company like Apex. Apex has the experience and technical resources to
move our project forward."
The Claims are owned 50/50 by United Uranium Corp. and Star Uranium
Corp., and include the claims that were formerly disputed by Shore Gold
Inc. (the "Disputed Claims").
The litigation over the Disputed Claims centered on whether the
representative of the Companies or the representative Shore was first
in line at the Department of Mineral Resources of the Government of
Saskatchewan on June 2, 2003 and entitled to register the Disputed
Claims. In total, the Disputed Claims covered 33,196 hectares.
In the March 1, 2007 judgment of the Saskatchewan Court of Queen's
Bench, Mr. Justice Barclay ruled in favor of the Companies in deciding
that they were entitled, in priority to Shore, to register the Disputed
Claims. On March 30, 2007 Shore appealed the ruling, thereby halting
any exploration on the Disputed Claims.
On July 10, 2008, the Companies were advised that the Saskatchewan Court
of Appeal had dismissed Shore's appeal, clearing the way for the
Companies to rely on their registrations relating to the Disputed
Kyle Kozuska stated "we are very excited to start the exploration of our
Fort a la Corne properties. The stabilization of the broad market and
recovery from the recent recession were the indicators that management
was looking for to initiate its exploration program. This initial
phase will be funded entirely through internal resources and we
anticipate the Companies will be well positioned to capitalize on
further strengthening of the sector. The proximity to Shore's Orion
North and Orion South kimberlite fields makes this an exceptionally
Star Uranium Corp. (SUV - TSX Venture) ("Star") also confirmed today that it has executed consulting agreements with
three consultants for the provision of ongoing services to Star. A
portion of the consideration to be granted to the consultants for the
provision of services shall be, subject to the approval of the TSX
Venture Exchange, the issuance of common shares in Star having an
aggregate value equal to $30,000.00 calculated based on the market
price of the common shares determined in accordance with the policies
of the TSX Venture Exchange. The terms of the consulting agreements
have been filed with the TSX Venture Exchange and are pending approval.
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.
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of certain securities
laws, including the "safe harbour" provisions of Canadian securities
legislation and the United States Private Securities Litigation Reform
Act of 1995. All statements in this release, other than statements of
historical facts, that address future production, reserve potential,
exploration and development activities and events or developments that
the Companies expect, are forward-looking statements. Although
management believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance, and actual results or developments
may differ materially from those in the forward-looking statements.
Factors that could cause actual results to differ materially from those
in forward-looking statements include market prices, exploration and
development successes, continued availability of capital and financing,
and general economic, market or business conditions. Please see
our public filings at www.sedar.com for further information.
SOURCE Star Uranium Corp.
For further information:
Star Uranium Corp. Kyle Kozuska, (306) 664-3828, Facsimile: (306) 244-0042, www.staruranium.com, firstname.lastname@example.org