Cue Resources Completes Acquisition of Yuty Uranium Project
08 Settembre 2008 - 7:51PM
Marketwired
Cue Resources Ltd. (TSX-V: CUE) is pleased to announce that it has
completed its obligations under an earn-in agreement for the
acquisition of the remaining 70% of Empresa Minera Transandes
Paraguay S.A. that it does not already own. Transandes holds a
231,000 hectare exploration permit covering the Yuty uranium
project in south-east Paraguay. As part of the earn-in agreement,
Cue has accelerated the issuance of 2 million common shares that
were due to be paid in annual installments.
Chris Healey, Chief Operating Officer, said, "The acquisition of
full ownership of the Yuty project substantiates our strong
commitment to the San Antonio uranium deposit. We believe San
Antonio will be of major significance as we continue to explore the
large area encompassed by the Yuty project."
The Yuty uranium project includes the San Antonio deposit, with
Indicated Resources of 5.1 million lbs U3O8 and Inferred Resources
of 2.2 million lbs U3O8, in south-eastern Paraguay. This resource
estimate was reported in the Technical Report completed by Scott
Wilson Roscoe Postle Associates Inc (Scott Wilson RPA), of Toronto,
Ontario and dated May 15, 2008. The resource estimate and
classification of the Mineral Resources conforms to the reporting
requirements of National Instrument 43-101, and has been filed on
SEDAR.
Only a small area of the 231,000 hectare exploration permit has
been properly explored, with 450 drill holes completed on the
property since 1976 and many high-potential targets remaining to be
tested across the property.
Chris M. Healey, P.Geo, COO for Cue, is the Qualified Person
responsible for the technical content of this release.
CUE RESOUCES LTD.
"Chris Healey"
Chris Healey
Chief Operating Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
News Release. Actual results could differ materially from those
described in the news release as a result of numerous factors, some
of which are outside the control of Cue Resources.
Distributed by Filing Services Canada and retransmitted by
Marketwire
Chris Healey CUE RESOURCES LTD. 2400-1111 West Georgia Street
Vancouver, BC, V6E 4M3 Tel: 604-681-5755 Fax: 604-684-2990
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