Zadar Acquires BullRun Uranium Project adjoining AREVA/NexGen in Patterson Lake Area, Athabasca Basin
April 17, 2013 (Source: Marketwire) Vancouver, BC — Zadar Ventures Ltd. (TSX VENTURE:ZAD) (the “Company”) is pleased to announce that it has entered into a purchase agreement with an arm’s length vendor to acquire a 100% interest in the BullRun uranium project, located in the prolific southwestern Athabasca Basin,. The BullRun project comprises 3 claim groups totaling 9,185 hectares. All three properties are favourably located geologically; along major faults or fault zones, with intersecting smaller scale faults; and within a few kilometres up to a few tens of kilometres from known uranium zones.
Block A (~4,515 ha) is located 30 kilometres north of the Patterson Lake South uranium discovery (Fission Energy Corp./Alpha Minerals Inc.) and 40 kilometres south of the Shea Creek uranium deposit (UEX Corp./AREVA), the largest undeveloped uranium resource in the Athabasca Basin (for summary click here). The claims lie just east of the all-weather Highway 955, which runs north to the former Cluff Lake mine (+ 60 million pounds of U3O8 produced).
Block B (~3,138 ha) is located 50 kilometres east of the Patterson Lake uranium discovery and 50 kilometres west of the Centennial uranium deposit (Cameco/AREVA/Coronation Mines). This McArthur River style uranium deposit is currently under active exploration and development (for project info click here).
Block C (~1,532 ha) is located 12 kilometres west of the Centennial uranium deposit.
The company will pay $15,000 cash, issue 550,000 shares and commit to spend $150,000 on exploration over 3 years. This acquisition is subject to TSX Venture approval. There will be a finder’s fee payable in accordance to TSX Venture guide lines.
The Company would like to correct the project name in relation to the proximity of a Fission Energy property used in its press release dated April 9th from “Fission Energy Corp.’s Clearwater West project” to “Fission Energy Corp.’s Richmond Lake Project”. Please see map on website for details.
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Zadar Ventures Ltd. is a junior Uranium exploration company focused on acquiring and exploring for economically viable mineral resources in the prolific Uranium producing Athabasca Basin.
This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company’s disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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