The Conversation (0)
Athabasca Uranium Inc. (CVE:UAX) reports that it has entered into an agreement to acquire the Hamilton Lake property in northeast Saskatchewan.
The press release is quoted as saying:
The 5,873-hectare Hamilton Lake Property is located on the eastern margin of the uranium-rich Athabasca Basin, the most productive uranium-producing region in the world. The Company will earn a 100% interest in the Property by paying $25,000 and issuing 600,000 common shares to the Vendor on Closing, and by filing $3,000,000 in qualified exploration assessment credits either on the Property itself or on Athabasca’s other properties under option within its Webb River Project area within four years. A 1% net smelter return royalty has also been granted to the Vendor, which may be purchased by the Company for $1,500,000. The Agreement is subject to regulatory approval.