CanAlaska Uranium Ltd. (TSXV:CVV) has completed the sale of the Kasmere South uranium project in Northern Manitoba to East Resource for a cash payment of $1.8 million as well as a 2.5 percent net smelter royalty. The royalty has a C$20,000,000 one-time pre-production purchase option.
As quoted in the press release:
The cash payment significantly strengthens CanAlaska and assists with the Company’s plan to concentrate on more rapid exploration of its core Japanese and Korean joint ventures at West MacArthur and Cree East, within the Athabasca basin. CanAlaska retains the large Kasmere North project, adjacent to the northeast, (see map) as well as its interest in the NW Manitoba Project, and eleven other uranium projects in the Athabasca Basin in Saskatchewan.