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As the world's leading uranium producer, Canada is a prime hunting ground for the next generation of world-class uranium mines. Uranium North Resources is one of a few companies with a NI 43-101 defined resource. This gives the Company a strategic advantage over most companies still exploring grassroots prospects in an increasingly sophisticated and competitive mining market niche.
Gold Opportunities
This year the company initiated a low cost strategy to generate gold and base metal opportunities from their large proprietary geochemical and geophysical databases. The identification of gold at Mallery Lake, Kam and Aura are the first of several gold projects being developed.
Strategy
This strategy of leveraging gold assets allows shareholders to own the company for the uranium potential while participating in a strong gold market.
The Team:
The programs are managed by an experienced team of geologists led by President Mark Kolebaba, who has decades of northern experience. Technical Advisor Daniel Faure has 40 years of uranium exploration experience gained in uranium districts around the world. Mr. Faure is credited with leading the team that discovered the high-grade Cigar Lake unconformity-type deposit in the Athabasca Basin of Saskatchewan.
Nunavut - Emerging Mining District
Nunavut is fast becoming a recognized mining district in Canada and around the world. This can be attributed to certainty of land tenure, 2 million sq kilometres of geology similar to that in South Africa, Brazil and Australia and a government that promotes exploration and development of resources. Over the last 10 years exploration expenditures grew faster then any other area in Canada to nearly $300 million. Uranium North anticipated this emerging district and acquired a large land package early on. Since this time, many of the world's major resource companies have moved into the area. Most pertinent and in close proximity to Uranium North is Areva, the largest uranium company in the world. Areva has plans to put their 147 million lb Kiggavik uranium deposit into production by 2015. Cameco, the world's largest uranium producer, recently staked a large land position in the area. Agnico Eagle is also in the area with the Meadowbank gold deposit slated for production in 2010. An all season road from the deposit to Baker Lake has recently been completed. This deposit sits approximately 60 kilometres from our Amer Lake deposit. Infrastructure is rapidly developing in the area, with land, sea, air and rail routes. Nunavut's strategy is to create the conditions for an economically strong and self reliant territory by building a strong and sustainable mineral industry.
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