Marketwire
SASKATOON, SASKATCHEWAN--(Marketwired - Aug. 20, 2013) - Star Uranium Corp. (TSX VENTURE:SUV) ("Star") is pleased to announce that shares of Star will resume trading on the TSX Venture Exchange commencing August 21, 2013.
Hoidas Lake Rare Earth Project - Update and Technical Report
Star entered into a Letter of Intent ("LOI") with Great Western Minerals Group Ltd. ("GWMG") that sets out the basic terms and conditions by which Star will have the right and option to acquire up to a 51% participating interest (the "Interest") in the mineral and other related rights in and to GWMG's Hoidas Lake Rare Earth Project (the "Hoidas Lake Project"), an area comprised of fourteen mineral claims totaling approximately 12,522 hectares and related property in northern Saskatchewan. Please refer to Star's news release of June 4, 2013 for addition information regarding the LOI. Star and Great Western anticipate concluding the definitive agreements in respect of the matters set out in the LOI in the near future. The completion of the transaction is subject to entering into of the definitive agreements, the acceptance of the TSX Venture Exchange and all other required approvals and consents.
A geological report respecting the Hoidas Lake Rare Earth Project dated effective November 20, 2009 and entitled Mineral Resource Report on the Hoidas Lake Rare Earth Project Northern Mining District-Saskatchewan NTS Map Area 74-O-13 (the "Report") was prepared for GWMG and is presently available on the SEDAR profile of GWMG at www.sedar.com. The Report will be updated in connection with the completion of the transaction and readers are accordingly cautioned to not place undue reliance on the Report. A current geological report will be filed on the SEDAR profile of Star at www.sedar.com concurrently with the completion of the transaction.
About Star Uranium Corp.
Star Uranium is a Canadian based entity focused on the strategic acquisition and development of resource properties on a worldwide basis.
For more information, please visit our website at www.staruranium.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclosure Regarding Forward-Looking Statements:
This press release contains certain "forward-looking statements" within the meaning of applicable securities legislation. Words such as "might", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "forecast" and similar terminology are used to identify forward looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to meeting the conditions for the completion of the transaction with GWMG, the speculative nature of mineral exploration and development, including the uncertainty of resource estimates; changes to and compliance with applicable laws and regulations; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. While the Corporation believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward looking statements and forward-looking information.