CALGARY, June 4 /CNW/ - Uravan Minerals Inc. (the "Corporation") is
pleased to announce that, subject to regulatory approvals, it intends raise to
up to $2,900,000 in a non-brokered private placement (the "Offering") by
issuing up to 2,000,000 common shares (the "Common Shares") at a price of
$1.45 per Common Share. The Common Shares issued under this private placement
will be subject to a four-month hold period.
Proceeds of the Offering will be used by the Corporation to finance
potential uranium opportunities and for working capital and general corporate
About Uravan Minerals Inc.
Uravan Minerals Inc. ("Uravan") is a Calgary, Alberta based mineral
exploration company specializing in uranium, base metal (nickel, copper) and
precious metal (gold, platinum, and palladium) exploration. Uravan's principal
assets are the Boomerang uranium project, the Garry Lake uranium property and
the Rottenstone Nickel-Copper-PGE project. Due to the persistent increase in
the uranium prices, going from $7.10 per pound U3O8 in 2000 to $125.00
recently, Uravan has become highly focused in pursuing exploration for
potential high-grade unconformity-type uranium deposits on its joint
Cameco-Uravan Boomerang uranium project and its Garry Lake uranium project
plus acquiring additional uranium properties in other potential geological
domains. Uravan is a publicly listed company on the TSX Venture Exchange under
the trading symbol UVN. Uravan has 24,557,614 shares outstanding and $9.0
million in working capital. All of the mineral properties Uravan owns are
considered in the exploration stage of development.
This press release may contain forward looking statements including those
describing the Company'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 the Company 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, President, Uravan Minerals Inc.,
Tel: (403) 264-2630, Fax: (403) 264-2629, Email: email@example.com,