AGORACOM News Flash

AGORACOM Wire - Wednesday February 15th, 2012

Breaking News ....

Lomiko (LMR: TSX-V) to Complete 43-101 Report on Previous Drilling at the Quatre Milles Graphite Property *CLIENT* Read More

Top Sector Stories ....

Strike Graphite Corp. (TSXV:SRK) Acquires Wagon Graphite Project in Quebec in Vicinity of Timcal's Lac des Iles Graphite Mine *CLIENT* Read More | Profile

Strike Graphite goes "Beyond the Press Release"

McLaren Resources (CNSX:MCL) Drills 7.0 Grams Gold Over 7.4 Metres at the TimGinn Property Located Adjacent to the Hollinger Mine *CLIENT* Read More | Watch Beyond the Press Release

AGORACOM Launches GraphiteStocksBlog.com

We're proud to announce the launch of GraphiteStocksBlog.com a website dedicated to the needs of investors and companies in the fast growing Graphite industry.

INAUGURAL GRAPHITE SPONSORS

Message: Expands Coal Holdings in Saskatchewan

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »

Clavis

Rank: [?]

President

Points: [?]

23899

Rating: [?]

Votes: 219 Score: 3.5

Currently 3.6/5 Stars.

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Expands Coal Holdings in Saskatchewan

posted on Feb 18, 09 01:35AM

February 18, 2009

WestCan Uranium Corp. Expands Coal Holdings in Saskatchewan

Enters into option agreement with North American Gem for 12 Coal Permits Northwest of Hudson Bay

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 18, 2009) - WestCan Uranium Corp., ("WestCan") (TSX VENTURE:WCU)(OTCBB:WCURF)(FRANKFURT:... is pleased to announce it has reached an agreement with North American Gem Inc., (TSX VENTURE:NAG) whereby WestCan has the right to acquire a 37.5% interest in 12 Coal Prospecting Permits (CPP) totaling 23,040 acres, located in Township 55-07-02 Northeast of Tobin Lake in Central Saskatchewan. In addition, Silver Fields Resources Inc. (TSX VENTURE:SF) ("Silver Fields") will also have the right to acquire a similar 37.5% interest in the property and North American Gem will retain a 25% interest upon completion of the agreement.

The terms of the option agreement will require WestCan to pay the sum of $7,500 and issue 200,000 common shares to North American Gem as well as complete $480,000 in shared exploration costs on the property with Silver Fields, prior to October of 2011. A bankable Feasibility Study on the property must be completed within 5 years of the vesting of this agreement. Upon acceptance of this study, the Companies will enter into a joint venture agreement whereby North American Gem Inc. will hold 25% interest in the project and WestCan and Silver Fields, will each hold a 37.5% interest in the project. The terms and conditions of the joint venture relationship will to be determined at that time. This agreement is subject to TSX Venture Exchange approval.

Silver Fields will be the Operator for the project and has submitted a detailed drill permit application to the government of Saskatchewan's permitting office. The Company has made plans to commence a detailed exploration program on the property, upon permit approval.

This Township, located just east of the recently announced Weststar Resoures Corp. (TSX VENTURE:WER) exploration program, is near the most recent coal discovery by Goldsource Mines Inc. (TSX VENTURE:GXS), and is contiguous to another 12 CPP's held by WestCan. The Company also holds 24 CPP's southwest of Wapawekka Lake and southeast of Lac La Ronge near the intersection of Highways 165 and 912.

On behalf of the Board of Directors

"Chris England"

President and CEO, WestCan Uranium Corp.

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »