CanAm Uranium Corp. (CAUI) is kicking off its drilling project at Bancroft. This work program consists of 1650 meters of drilling on a property that was once home to four previously successful producing mines.
CanAm is working closely with its JV partner on this project, El Nino Ventures Inc. El Nino who, as the operator for the field work, has successfully booked the necessary people and equipment to begin the drill program on the Halo Claims in Bancroft.
This work program is the result of an agreement signed with CanAm Uranium, formerly Boulder Creek Exploration Inc. in November 2006. Under the terms of this agreement, El Nino received 275,000 shares of CanAm Uranium Corp., and cash payments made totaling CDN $125,000. CanAm Uranium Corp. can participate in a 60 percent interest by committing CDN $1,000,000 over the next two years.
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