AntOro Signs Option Agreement on 2 Uranium Properties in Quebec.MONTREAL -- AntOro Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ORE) is pleased to announce the signature of an option agreement to acquire 100% interest in two (2) Uranium properties in Quebec. The first is the Andy Lake property, located directly east and contiguous to NOVA Uranium's Mont Laurier Uranium property. The Andy Lake property consists of 9 CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation cells (Map Designated Claims) covering 460.89 Hectares (see sheet # 31J/14). The second is the Maro property located in the Seigneury seign·eur·y n. pl. seign·eur·ies The power, rank, or estate of a seigneur. Noun 1. seigneury - the estate of a seigneur seigniory, signory Township of the Otish Mountains, consisting of 10 CDC cells covering 590.4 hectares (see sheet # 33F/10). Both properties have been optioned from Fayz Yacoub, (P. Geo), of Surrey, B.C. Mr Yacoub is also the owner of the neighbouring Mont Laurier uranium property that has been optioned to Nova Uranium. To acquire 100% of both properties AntOro must spend $600,000 in work commitment over 3 years from the date of regulatory approval of the transaction, the payment of : $10,000 and the issuance of 450,000 common treasury shares upon approval of the transaction; on January 1, 2007, a payment of $10,000 and the issuance of an additional 450,000 common shares; on January 1, 2008, a payment of $20,000 and the issuance of 600,000, and on January 1, 2009, a final payment of $25,000 and the issuance of 600,000 common shares. A 2% NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there on precious and base metals production as well as on the sale of Uranium is payable upon production. 1.5% of this NSR can be bought back by AntOro for $1.5 million. The exploration programs on the property will be jointly decided by AntOro and Mr. Yacoub.Mr. Yacoub, through his company On Track Exploration will grant all the fieldwork on both properties and will act as exploration operator. Several uranium occurences have been delineated on the Andy Lake property. The property is located directly east and contiguous to Nova Uranium's Mont-Laurier property.Nova holds a significant number of claims in the area and recently staked additional ground in this emerging uranium district. The Maro property offers a high exploration potential based on previous sample results. Selected rock sampling completed on the property returned 14.72% U or 17.36% U308 (GM 50022).Previous drilling on the Maro propertyreturned 610 ppm U over 17 metres and 0.3% U over .46 metre (GM 34121 and 37017). The mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. on this property consists of pitchblende pitchblende (pĭch`blĕnd'), dark, lustrous, heavy mineral, a source of radium and uranium. Largely natural uranium oxide, UO2 and UO3, it usually contains some lead and variable amounts of thorium and rare-earth elements. , uraninite uraninite: see pitchblende. uraninite Uranium dioxide (UO2), a major oxide mineral of uranium. Uraninite is radioactive and usually forms black, gray, or brown crystals that are moderately hard and generally opaque. and brannerite with minor chalcopyrite, pyrite and pyrrhotite as well as native Selenium. This press release was reviewed and verified by Mr. Benoit Violette, director of AntOro. Mr. Benoit Violette is a Qualified Person under National Instrument 43-101. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for adequa cy or accuracy of this release. ANTORO RESOURCES INC. (TSX VENTURE:ORE) |
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