Uranio AG
Uranio AG: Uranio AG starts exploration activities in Bakouma
Uranio AG / Miscellaneous 02.10.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Uranio AG Hirschgässlein 30 CH-4010 Basel Schweiz www.uranio.ch Frankfurt: UAI WKN: A0MKD4 Telefon: +41 (0) 61 271 27 70 Fax: +41 (0) 61 271 27 71 Basel, 2nd October 2009 News Release 4-2009 (News Release including photos is published on our website www.uranio.ch) Uranio AG starts exploration activities in Bakouma Uranio AG is pleased to announce commencement of exploration activities on its 100% owned Bakouma concessions in the Central African Republic. The company has four licence areas that are to the north and east of licences operated by Areva of France at Bakouma in addition to its 27 licenses in Argentina. African Skies Limited has been hired by Uranio in order to establish a permanent camp in the area including an air strip to provide support for the exploration activities. Logistic and implementation activities have commenced in the region and two senior geologists and their support team will be based at site. Uranio, through their consultants, SRK Consulting, intends to focus on identifying and delineating the fault-bearing uranium mineralization in the North Bakouma licences associated with the regional anticlinal fold. The area is also known to contain other mineral deposits associated with the geological structures. Initial activity will focus on the two northern licences The potential for uranium mineralization was first identified by Cogema in 1961. The uranium rich phosphatic deposits were reported to have some of the highest grades in Sub Saharan Africa. Further work was undertaken by Alusuisse in the 1970's and by a Japanese consortium in the 1980's. The board of Uranio has finalised an agreement with its major shareholder, Lana International Limited, for a loan which will provide the company with the initial funding required to implement the programme agreed with SRK. This programme will include aerial and radiometric surveys, follow up regional soil and stream sediment sampling and geological mapping. Further financial offers have been made to the Board of Uranio which will be more than adequate to fund the completion of the programme proposed by SRK in order to finalise the resource statement for the four licences in CAR. In 2007 Areva acquired Uramin in a takeover valued at US$2.5bn. Areva-Uramin have reported that the licence areas they occupy consist of 10 separate mineralised areas. It is reported that UraMin drilled some 9,400 m and quoted resources of 38,000 tonnes uranium (tU) with 16,000 tU as a historic resource estimated and reported by the previous owner. Mineralization in the North Bakouma licences has been historically referred to as uranium bearing phosphate deposits associated with faulted limbs of a regionally important anticlinal structure that cuts through both of the North Bakouma licences. The importance of the fault structures, in acting as a foci for high grade uranium mineralization, has been demonstrated in published geological reports on the area. On behalf of the board, Luca Tenuta (CEO) Uranio AG (News Release including photos is published on our website www.uranio.ch) Disclaimer: This document was prepared by Uranio AG. The opinions stated herein are those of Uranio AG at the time of publication and are subject to change at any time. The document is only for the purpose of information and use by its recipient. It is neither an offer nor an invitation to purchase or sell Uranio AG shares. A reference to the performance of the past shall not be understood as an indication of future developments. The information and analysis contained in this publication have been compiled from sources that are deemed to be reliable. However, Uranio AG gives no guarantee with regard to their reliability and completeness and rejects any claim for damages that may be the result of use of this information. 02.10.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------------
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