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MAX has also acquired a database containing 40 years of uranium exploration
data across North America, including the original reports prepared by OxyMin
to support the exploration target estimate.
Nustar:
In April 2007, MAX entered into an agreement to acquire 100% interest in 427
mineral claims located in the Arizona Strip of the Colorado Plateau, in
northwest Arizona. The Nustar claims cover 8,540 acres in Mohave County,
Arizona, located in a northwestern trend that has been home to uranium-
bearing solution collapse “breccia pipes” that were mined during the 1980s.
The average grade of the uranium ore that has historically been mined in the
Arizona Strip has ranged from 0.4% to 0.8% U3O8, and the size of the deposits
have ranged from 880,000 pounds to 4.4 million pounds of recovered U3O8.
The cost of the Nustar option was US$128,100 and 200,000 common shares,
subject to a gross royalty of 4% of sales revenue from commercial production.
For each breccia pipe identified that goes into commercial production, MAX
has the right to purchase 3% of that 4% royalty back for US$1.0 million.
Please do your due diligence
Cheers