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El Nino Ventures and CanAm Uranium to Commence $500,000 Work Program on Prolific Bancroft Uranium Property
El Nino Ventures and CanAm Uranium to Commence $500,000 Work Program on Prolific Bancroft Uranium Property.
About this update from Metalquest Mining Inc
[{"type":"text","content":"\n\n\n\nVANCOUVER, March 19 /CNW/ - El Nino Ventures Inc. ("El Nino") (TSX.V:\nELN; OTCBB: ELNOF; Frankfurt: E7Q) and CanAm Uranium Corp. (OTCBB: CAUI.OB)\n(formerly Boulder Creek Exploration Inc.) are pleased to announce that the\nfirst phase of a $500,000 work program will be commencing on the Bancroft\nUranium Project. This work program will consist of 1650 meters of drilling on\na property that was once home to four past producing mines, producing a total\nof 14,862,653 lbs. U3O8 between 1956 - 1982. Subject to results, a follow up\ndrill program is planned.\n\n\nThis work program is the result of an agreement signed with CanAm Uranium\nformerly, Boulder Creek Exploration Inc. in November 2006. Under the terms of\nthis agreement, El Nino will receive 275,000 shares of CanAm Uranium Corp.,\nand cash payments totaling CDN $125,000. CanAm Uranium Corp. can earn in a 60\npercent interest by committing CDN $1,000,000 over the next two years, and\ncould earn up to 80 percent of the project by issuing a further 300,000 shares\nand spending an additional CDN $1,500,000.\n\n\nAbout CanAm Uranium Corp.\n\n\nCanAm Uranium Corp, is a Nevada incorporated junior resource company with\na corporate objective focused on the strategic acquisition and development of\nexploration properties in well-known prolific mining areas, especially known\nfor Uranium, of Canada, Southern Africa, Australia and the United States.\n\n\nAbout El Nino Ventures Inc.\n\n\nEl Nino is an exploration stage company whose corporate objective is to\nrevisit former mining regions and apply the latest technologies to advanced\nstage exploration targets. El Nino Ventures has entered into an Option/Joint\nVenture Agreement with Xstrata Zinc Canada to explore the world class Bathurst\nZinc/Base Metals Mining Camp in Bathurst, New Brunswick, Canada.\n\n\nOn Behalf of the Board of Directors\n\n\n(signed)\n\n\nJean Luc Roy, President and COO\n\n\n------------------------------------------------------------------------\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release\n\n\nCUSIP No. 28335E-10-6\n\n\nThis news release contains certain "Forward-Looking Statements" within\nthe meaning of Section 21E of the United States Securities Exchange Act of\n1934, as amended. All statements...