Makena Acquires Athabasca Uranium Prospect Bordering the Patterson Lake South DiscoveryHighlights:
- New acquisition borders the Patterson Lake South discovery made by Alpha Minerals Inc. (AMW-TSX Venture) and Fission Energy Corp. (FCU-TSX Venture).
- Makena has the smallest current market cap (approx 1.2 million) on any company bordering the PLS discovery.
- Approximately 17 million shares outstanding.
Makena Resources Inc. (TSX-V: MKN) wishes to announce that it has entered into an option agreement to acquire the Patterson group of claims prospective for uranium, subject to regulatory approval. This acquisition consists of three claim blocks totalling 6,687 hectares (16,524 acres) which are all located in the Athabasca Basin. The west block directly borders the recent discovery at the Patterson Lake South ("PLS") Prospect of Alpha Minerals Inc.'s (AMW-TSX Venture) and Fission Energy Corp.'s (FCU-TSX Venture) The other two blocks are in the direct vicinity of the discovery (please refer to maps on the Company's website www.makenaresourcesinc.com)
Negar Adam, President of Makena states, "This is a significant acquisition for Makena. This acquisition would position Makena in the heart of the most exciting uranium district in the world today. The PLS discovery has garnered significant market attention and we are extremely pleased to be bordering this discovery. We plan to initiate a work program as soon as we receive regulatory approval for this acquisition. Makena's market capitalization is currently just over $1 million. We have the smallest current market capitalization of any company directly bordering the highly regarded discovery at Patterson Lake South. Management is pleased to be in this world class uranium district and looks forward to developing the prospect as soon as possible."
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Tel: 1604.685.5150 Fax: 1604 689-1733
"Negar Adam" President, Director Makena Resources Inc.
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