Uranio AG
Uranio AG: Announcement
Uranio AG / Enterprise 04.03.2010 18:34 Dissemination of a Media Release, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Basel, 4th March 2010 Uranio AG is a Swiss based exploration company focused on the exploration and development of uranium deposits worldwide. Itss shares are traded on the Frankfurt Stock Exchange under the WKN: A0M KD4 (ISIN: CH0028827852) The Company owns more than 80.000 hectares of exploration licences in Argentina and two consessions in the world famous Central African Republic uranium area Bakouma known as Bakouma North and Ndenguiero. More details on www.uranio.ch The Board of Uranio AG ('the Company') is pleased to announce that it has now entered into a binding heads of agreement ('the Heads of Agreement') with Mercator Gold plc ('Mercator'), Company listed on the AIM market of the London Stock Exchange, with respect to all exploration and mining licenses and applications held by the Company's subsidiary in Argentina Uranio del Sur ('the Licenses'). Highlights - Terms agreed on which Mercator may, at its option, earn in to an interest of up to 70% in the Licenses ('the Earn In') by expending the sum of US$5.7m on exploration, evaluation, development and associated activities over a period of four years. - For the duration of the Earn In, Mercator would pay to Uranio AG the sum of US$150,000 per year. - A four-month due diligence period, extendable by three months, has commenced. The due diligence is to include ground scintillometer surveys and surface sampling with a view to delineating areas of economic uranium mineralisation. Mercator's due diligence is expected to culminate in the completion of a desktop study on the Licenses, which would be shared with Uranio for its use. - Argentina is recognised as a highly prospective territory for uranium exploration, and the French nuclear energy group AREVA is known to be considering the construction of a uranium mill in the country. - The Licenses, which total in excess of 80,000 hectares of granted tenements, will be evaluated for uranium as well as precious and base metal potential. - The Licenses include one 4,000 hectare tenement located in close proximity to the historic Los Mogotes Colorados uranium mine. The Board of Uranio AG is confident to improve shareholders value by enhancing the value of its Argentinean assets through the signed joint venture with Mercator. On behalf of the Board of Uranio AG, Luca Tenuta (CEO) 04.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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