CanAlaska to explore Collins Bay Extension uranium project

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Wed, Jul 15, 2009
Uranium Company News
Post by Melissa Pistilli, Uranium Reporter

CanAlaska Uranium reports that it has executed an Option Agreement with Bayswater Uranium to begin exploration of the Collins Bay Extension uranium project, Eagle Point, Saskatchewan.

Under the terms of the Option, CanAlaska shall act as the exploration operator and may earn a 51% participating interest in the Project by undertaking a minimum of Cdn$4 million in exploration expenditures within 5 years and issuing a total of 500,000 Company shares to Bayswater over this period. The Company may increase its participating interest in the Project to a 70% level by successfully undertaking a further Cdn$2 million in exploration expenditures over a period of 3 years.

For complete details of this press release, click this link.

To view  Bayswater’s company profile, click here.

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