WestCan Uranium Options Advanced Project on Athabasca Basin’s North Rim

WestCan Uranium Corp. (TSXV:WCU) announced that the Company has entered into an option agreement with CanAlaska Uranium Ltd (TSXV:CVV), on CanAlaska’s 100%-owned Grease River Project located on the northern rim of Saskatchewan’s Athabasca Basin.

The press release is quoted as saying:

Under the terms of the Agreement, WestCan will issue to CanAlaska, a total of 5% of the issued and outstanding common shares of the Company and a further 5% on the first anniversary date of the agreement; and must spend 4.5 million dollars in exploration on the claims over a 3 year period, in order to earn a 50% participating interest in the project.

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