Uranium North Resources Corp V.UNR

News: Permits adjacent to Cameco

[24~Karat]

Uranium North gets two Baffin exploration permits 2008-02-19 11:24 ET - News Release Mr. Mark Kolebaba reports URANIUM NORTH AWARDED EXPLORATION PERMITS ON BAFFIN ISLAND Uranium North Resources Corp. has been awarded two exploration permits on southern Baffin Island in Nunavut. The two permits total about 130,231 acres over part of the Fury-Hecla basin which is considered prospective for uranium. The company considers this a strategic land position in an under-explored uranium district in Canada. The Uranium North property is adjacent to property held by Cameco Corp., the world's largest uranium producer. The age, tectonic setting and rock types of the Fury-Hecla basin are similar to those in the Athabasca basin and are prospective for hosting large concentrations of uranium. Limited exploration activities by several companies in the late 1970s identified uranium mineralization and radiometric anomalies in the basin. Plans for exploration on the property are under way. We seek Safe Harbor.