Buffalo Acquires Additional Uranium Properties.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Buffalo Gold Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BUF (BUFfer gate) A logic gate that generates the same output as the input. It is used as a relay to increase power, to add some delay in the circuit and to isolate signals. See logic gate.  .U) is pleased to announce that it has been granted an option by a private Australian company, Global Discovery Pty. Limited ("Global"), to acquire a 100% interest in the Murphy Ridge Project located in North East Northern Territory, Australia. The Murphy Ridge Project is within the same tectonic area and along strike from Laramide Resources' Westmoreland Project in Queensland. Westmoreland is reported by Laramide to have a large existing inferred resource of 17.4M tons @ 1.2 kg/ton U3O8 (greater than 44 million pounds) which ranks it as one of the top ten largest uranium deposits in Australia. This resource calculation was based on work completed prior to the implementation of National Instrument 43-101, however, and is therefore not currently 43-101 compliant. The Murphy Ridge Project comprises two strategically placed exploration permits totaling approx. 2300 square km. The target is unconformity un·con·for·mi·ty n. pl. un·con·for·mi·ties 1. Lack of conformity; nonconformity. 2. Geology A surface between successive strata representing a missing interval in the geologic record of time, and produced style uranium with a setting analogous to the world-class Ranger and Jabiluka Mines, also in the Northern Territory. This style of uranium deposits is the highest grade in the world with Canadian examples that include Cigar Lake and McArthur River. Australia ranks first in the world in known recoverable resources of uranium with 28% of the total. By contrast, Canada ranks third with 14% but has a leading position in world mine output with 30% of global supply. (For further information on uranium in Australia, see www.uic.com.au). Buffalo has signed a binding letter of intent on the Murphy Ridge project and has paid Global the initial $50,000 non-refundable payment that provides for a due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. period that expires on October 11, 2006. On completion of the due diligence period Buffalo can exercise its option and acquire 100% of the project by issuing Global 200,000 shares of Buffalo and agreeing to make a further payment of $50,000 on the anniversary date of the option exercise. Global is a private company with exploration interests in the Northern Territory, Australia. Dr. Andy Wilde and Mr. Mike Raetz are the principals of Global and will work with Buffalo to capture further uranium project opportunities. Dr. Wilde started his mineral exploration career working for Uranerz Australia, searching for unconformity-type uranium deposits in the Northern Territory of Australia (Rum Jungle Rum Jungle can refer to:
Directory: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Current Companies . Mr. Raetz is an exploration geologist with a keen interest to adapt new ideas "New Ideas" is the debut single by Scottish New Wave/Indie Rock act The Dykeenies. It was first released as a Double A-side with "Will It Happen Tonight?" on July 17, 2006. The band also recorded a video for the track. and technology to discovery, previously with BHP Minerals, now at the Australian Crustal crust·al adj. Of or relating to a crust, especially that of the earth or the moon. Adj. 1. crustal - of or relating to or characteristic of the crust of the earth or moon Research Centre, Monash University and in private practice. His experience totals seventeen years exploration project geology, three years mining geology and fifteen years exploration project development, research and consulting. Uranium prices have improved substantially in the past 24 months; with spot prices rising from below USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $10/lb to current levels almost USD$40/lb. This trend of rising prices is attributed to strong industry fundamentals with present world mine output a little more than half the level of consumption by utilities that are the consumers of all of global uranium supply. This positive pricing picture follows a prolonged bear market dating to the early 1980's. Mark Dugmore, MAusIMM, is the qualified person for the purposes of NI43-101 that was responsible for the preparation of the technical information disclosed in this news release. To find out more about Buffalo Gold Ltd. (TSX VENTURE:BUF.U), please visit its website at www.buffalogold.ca. On behalf of the Board of Directors of BUFFALO GOLD LTD. Damien Reynolds, Chairman of the Board of Directors and Chief Executive Officer 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. has not reviewed and does not accept resp onsibility for the accuracy of this press release. Buffalo Gold Ltd. (TSX VENTURE:BUF.U) |
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