The VBE-2 property, comprising of 64 claims, is located 40km southwest of the village of Nain in NTS14D/1 and 14D/8. The claims also lie 8km due south of Discovery Hill site of the Voisey�s Bay deposit.
The Company holds a 50% interest, subject to a 2.5% NSR royalty, in the VBE-2 property located in the Voisey�s Bay area of Labrador. The Company, together with CanAlaska Ventures Inc., now known as CanAlaska Uranium Ltd. (�CanAlaska�), entered into an Option Agreement (�Agreement�) dated September 6, 2006 (effective date: October 6, 2006) with Celtic Minerals Ltd (�Celtic�) and Merrex Gold Inc (�Merrex�) whereby Celtic and Merrex have acquired the right to earn a 100% interest in the VBE-2 property. Celtic will be the operator of the exploration programs carried out on the VBE-2 Property. |
