 | | | Publié le 26 novembre 2007 | Granted Two Concessions in Niger, West Africa |
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BAYSWATER URANIUM CORPORATION
NEWS RELEASE
Bayswater Granted Two Concessions in Niger,
West Africa
Adjoining Concessions Comprising 1,000 sq km are Company�s
First Properties in Niger�the Fourth Largest Producer of Uranium in the World
Vancouver, B.C., November 26, 2007 -- Bayswater Uranium
Corporation (TSX-V: BAY) (OTC: BYSWF) is pleased to report that 2 of 16 concessions
applied for in two blocks in north central Niger, West Africa have been granted.
Bayswater has applied directly for 8 concessions and indirectly, through an
agreement with Longview Capital Partners Inc., (TSX-V: LV) for an additional 8 concessions in two blocks
in the Tim Mersoi Basin, Niger, West Africa. These concessions comprise
approximately 8,000 sq km in favorable structural and stratigraphic settings in
the region of sandstone type uranium deposits, several of which are currently
producing in Niger�including the Akouta underground mine and Arlit open pit mine
operated by Areva.
The two concessions have been granted pursuant to the government of Niger�s review of its mining code, which delayed granting of
concessions. Under the new system, Bayswater reapplied for modified concessions
based on additional data and information. Concessions currently applied for
include one block of 12 concessions (4 applied for by Bayswater and 8 applied
for by Longview under option to Bayswater) located along the stratigraphic
extension to the northwest of the mine area in a region of northeasterly trending fault structures as indicated by surficial features and airborne
geophysics; and a second block of 4 concessions southwest of the mine area along
the extension of favourable faults and other known uranium deposits and
prospects. The 2 concessions recently granted are part of the block northwest of
the mine area. These concessions are also subject to an agreement with a third
party, as previously announced, for assistance in making the applications that
involves nominal cash and share payments. The agreement is subject to amendment
in the event all the concessions are not granted to Bayswater and is subject to
Exchange approval.
Once the process of granting of concessions is completed,
Bayswater plans an airborne radiometric and magnetic survey and follow-up
prospecting of anomalous targets in order to define uranium targets of interest
for subsequent drill testing. Bayswater cannot be certain that all or any of the
remaining concessions applied for as above in Niger will be granted as the
government system of granting of concessions is still uncertain in some
respects. Also, no work is planned on any of the concessions until civil unrest
in the country is under control and it is safe to work in
Niger.
Other News�Hermitage Uranium Belt
Global Gold Uranium reported completing an airborne radiometric
and magnetic survey, comprising over 6,396 line km, on the Cochrane Pond property, comprising 148,942 acres, located in the Hermitage Uranium Belt in
Southern Newfoundland in September, 2007. Global recently announced that 150
radiometric anomalies were identified and that a prospecting crew had been
mobilized to evaluate the anomalies.
Peripheral Hermitage Belt claims owned 100% by Bayswater and
comprising approximately 179,000 acres that have not been covered with airborne
surveys have been allowed to lapse. Also, Bayswater and Commander Resources
(TSX-V: CMD) have terminated their option
on the Murphy claims, comprising about 3,200 acres, due to the lack of
encouraging results from exploration on this ground.
The Company�s exploration
activities are conducted under the supervision of George M. Leary, M.Sc. P. Eng.
(BC), President of the Company, and Victor Tanaka, B.Sc. P.Geo. (B.C.), Chief
Operating Officer of the Company. Both are qualified persons under NI 43-101.
George Leary is the qualified person responsible for the technical information
in this news release.
About Bayswater Uranium
Corporation - The Super JuniorTM Uranium Company
Bayswater Uranium Corporation is a rapidly-growing
international uranium exploration and development company. As the only uranium
company to have major landholdings in each of Canada's most important producing
and exploration regions � the Athabasca Basin, the Central Mineral Belt, and the
Thelon Basin � Bayswater is a leader in uranium exploration in Canada, the
world�s largest producer of uranium. The Company also owns several advanced
uranium properties in the United States that are being fast tracked to
production. Bayswater combines a balanced portfolio of exploration and
development projects with the uranium expertise of its technical and managerial
teams. The result is a Super JuniorTM Uranium Company with the share
liquidity and market capitalization to provide value to both the retail and
institutional investor. Bayswater is listed on the TSX Venture Exchange under
the symbol "BAY". The Company�s website is www.bayswateruranium.com.
On behalf of the Board of:
BAYSWATER URANIUM CORPORATION
George M. Leary
President
For further information contact:
John Gomez
Manager, Investor Relations
Telephone: (604) 687-2153
The TSX Venture Exchange has not reviewed and does
not accept responsibility for the adequacy or accuracy of the contents
herein.
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Niger | Tous
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Bayswater Uranium Corp.
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EXPLORATEUR |
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CODE : BAY.V |
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ISIN : CA0731731067 |
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Bayswater est une société d’exploration minière d'uranium basée au Canada. Bayswater détient divers projets d'exploration au Canada et au Mali. Ses principaux projets en exploration sont AVOCA en Irlande, NORTH THELON, SOUTH THELON, ALZADA, JUNIPER PROPERTY, MOUNTAIN WEST, BRUDELL LAKE, COLLINS BAY EXTENSION, COIN CANYON, VIKING (BAYSWATER), CENTRAL MINERAL BELT (BAYSWATER), TEJANA MESA, ANNA LAKE, RENO CREEK PROJECT, WISKER VALLEY et BOITEAU LAKE au Canada, NIGER au Niger et SAMIT au Mali. Bayswater est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 6,2 millions CA$ (4,6 millions US$, 4,2 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 2,47 CA$, et son plus bas niveau récent le 19 décembre 2022 à 0,02 CA$. Bayswater possède 59 520 000 actions en circulation. |
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