Vancouver, British Columbia--(Newsfile Corp. - May 28, 2014) -
Prescient Mining Corp (CSE: PMC) is one of the latest new listings on the Canadian Securities Exchange, and is trading under the symbol "PMC". Concurrent with its new CSE listing, the company has
voluntarily de-listed from the TSX Venture Exchange.
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In fiscal year 2011, the Company entered into an option agreement with Geomode Mineral Exploration Ltd. for the exclusive right and option to acquire a 100% undivided interest in the Hook Lake Project, located in the Athabasca Basin, Saskatchewan.
The project consists of a 5,052-hectare mineral disposition on the outer eastern edge of the Athabasca basin, adjacent to JNR Resources' Way Lake uranium project.
Prescient's property is located within the Wollaston Domain and is situated approximately 9 kilometers southeast of the contact between the Athabasca Basin sandstones and the underlying Wollaston Group rocks. Historical work on the property
has identified structurally controlled uranium mineralization and the presence of graphite.
The Athabasca Basin hosts many of the world's most significant uranium mines, with the uranium deposits generally having grades substantially higher than the world average. According to the World Nuclear Association, Canada was the world's largest
uranium producer for many years, accounting for about 22% of world output prior to 2009.
In consideration of the grant of option, the company paid $15,000 and issued 150,000 common shares of the company on July 30, 2012. The company may exercise the option by incurring a total of $886,404 in exploration and development
expenditures on the project over a period of three years and paying an additional sum of $1-million to the vendor on the third anniversary of the Exchange approval date.
For more information about the property, please refer to the NI 43-101 Technical Report, which the company filed on
Sedar.com last week.
Prescient is one of the Mosam Ventures group of companies. For more information, please visit
www.mosamventures.com or contact Isaac Moss at 604-669-9788.
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