Noka, Skyharbour, Athabasca Nuclear and Lucky Strike Enter Form Western Athabasca Syndicate

Noka Resources Inc. (TSXV:NX) announced that members of the Western Athabasca Syndicate have entered an agreement for  uranium exploration in Saskatchewan’s Athabasca Basin, which will include  Noka, Skyharbour Resources Ltd. (TSXV:SYH), Athabasca Nuclear Corp. (TSXV:ASC) and Lucky Strike Resources Ltd. (TSXV:LKY).

As quoted in the press release:

Under the terms of the Agreement, each of Noka, Skyharbour, Athabasca Nuclear and Lucky Strike will receive an option to earn 25% of the Western Athabasca Syndicate Project by making a series of cash payments, share payments and incurring exploration expenditures over the two-year earn-in term of the agreement. The agreement would see $6,000,000 of exploration on the project over the next two years with a minimum of $3,000,000 of work completed before September 30, 2014 and the remaining $3,000,000 spent by September 30, 2015 (see previous news release dated June 24, 2013). Athabasca Nuclear will be the Operator of the project.

Noka’s President and CEO, Nav Dhaliwal, said:

We believe this partnership and structure offers the best prospects of making a new uranium discovery in the Athabasca region while at the same time mitigating company-specific risk.

To view the whole press release, click here.