Blue Sky Uranium Signs Letter of Intent with UrAmerica Ltd.
August 21, 2014 (Source: Accesswire) — Blue Sky Uranium Corp. (TSX-V: BSK, FRA: MAL (WKN: A0MKXP), “Blue Sky” or the “Company”) wishes to announce that it has entered into a letter of intent (“LOI”) with UrAmerica Ltd. (“UrAmerica”) which outlines the general terms and conditions of a proposed transaction (the “Transaction”) pursuant to which UrAmerica proposes to acquire the Santa Barbara, Anit and Ivana properties in the Province of Rio Negro from the Company (“Assets”). The Transaction terms outlined in the LOI are non-binding. The Transaction is subject to completion and approval of a definitive agreement by the directors of each of Blue Sky and UrAmerica and completion of due diligence investigations to the satisfaction of each of Blue Sky and UrAmerica.
About UrAmerica Ltd.
UrAmerica is a private uranium exploration company incorporated in London with presence in highly prospective regions of Argentina and Paraguay. The company has focused its efforts on developing the properties and it has successfully consolidated in the Province of Chubut in Argentina. UrAmerica’s land position covers many highly prospective areas for uranium exploration directly surrounding the Cerro Solo Uranium Deposit, which is the largest and highest grade sedimentary hosted uranium deposit in Argentina. The company upholds the highest environmental, safety and hygiene standards, in compliance with local laws and regulations and global market practices and is committed to the conservation of the environment and the progress of the communities in which we operate.
About Blue Sky Uranium Corp.
Blue Sky is one of Argentina’s best positioned uranium exploration companies with more than 5,000 km2 of tenements. The Company’s mission is to acquire, explore and advance a portfolio of uranium projects with an emphasis on surficial deposits, in Argentina and other jurisdictions.
The Company is a member of the Grosso Group, a resource management group with experience in South America since 1993. As a member company of the Grosso Group, Blue Sky benefits from the signing of an agreement in principle for a strategic alliance with the Government of the Rio Negro province, Argentina, for the purpose of jointly exploring the potential for commercial mining activity. Argentina has an advanced nuclear industry, centered in the Rio Negro Province.
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ON BEHALF OF THE BOARD
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company’s public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>