Western Uranium Corporation
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 6195 Ridgeview Ct., Suite F Reno, NV 89519 U.S.A. |
| Tel No.: | (604) 669-6446 |
| Fax No.: | (604) 488-0319 |
| Web Site: | www.westernuranium.com |
| Corporate Email: | rroy@westernuranium.com |
| Contact Person: | Richard Roy |
| Position: | Manager, Investor Relations |
| Traded Market: | TSX-V |
| Traded Symbol: | WUC |
| Outstanding Shares: | 50,226,198 |
| 52 Week High: | $ 4.15 |
| 52 Week Low: | $ 1.63 |
| Present Price: | Click Here |
INTRODUCTION
Western Uranium Corporation (WUC) is a Canadian based resource company focused on exploration, acquisition and
advancement of uranium properties primarily in North America. The Company operates in the United States through its wholly owned subsidiary Western Energy Development Corporation and in Canada through its wholly owned subsidiary Ruby Hill Exploration Inc.
Through staking efforts and leases WUC holds over 60,000 acres of prospectable ground in geologically favorable environments in the U.S. Through the acquisition of Ruby Hill Exploration Inc. the Company acquired approximately 486,000 acres of highly prospectable ground in the Thelon Basin, Canada.
PROJECT IN HAND
(1) Kings Valley Project, Nevada
In January 2005 Western Energy Development Corporation (WEDC) acquired Kings Valley through a mining option agreement for 33 lode claims that comprise the core of the property. WEDC has staked 2,500 additional lode claims within the McDermitt caldera.
Kings Valley was discovered by Chevron Resources in 1975 and by 1980 they had defined over 11 million pounds of uranium at an average grade of 0.15% U3O8 (not NI 43-101 compliant).
AMEC is processing toward completion of an NI 43-101-compliant report and uranium resource estimate for the Kings Valley project to be available in December of 2007.
Significant technical advances have been made in a number of areas including drilling, geochemical and geophysical surveys over various areas of the claim block. To date, during the 2007 calendar year, approximately 7,600 metres in 31 reverse circulation drill holes have been completed.
(2) Virgin Valley Project, Nevada
WEDC staked 68 federal lode claims in Virgin Valley following a detailed literature review of documents available at the GSN and the Nevada Bureau of Mines and Geology (NBMG). NBMG Open File Report 96-3 details academic investigations into the Virgin Valley uranium occurrence while GSN Special Publication #7 quotes an Exxon developed resource of "more than 20 million tons at an average grade of 0.03% U3O8 for over 12 million pounds of uranium (not NI 43-101 compliant), with higher grade pockets of mineralization."
WEDC has completed a preliminary surface alpha meter survey over the Virgin Valley project area and several strongly radioactive zones have been identified with more than 10,000 cps. Surface sampling of the area has returned values more than 1.0% U3O8.
The 2007 Virgin Valley exploration program includes infill alpha meter surveys, additional surface geochemistry, track etch studies and geologic mapping.
(3) Treeline Project, New Mexico
The Treeline Property is located in the east central portion of the prolific Grants Uranium Belt in northwestern New Mexico. Over the past 60 years the Grants District has produced over 340 million pounds of uranium. Historic estimates indicated that approximately 2.0 million pounds of uranium are present within the Section 24 lease area of the Treeline property (not NI 43-101 compliant).
Six drill holes completed in March of 2006 confirmed uranium mineralization in Section 24. A Plan of Operations has been submitted to the U.S. Forest Service for 47 drill holes to expand the uranium resource found by Conoco and others.
The small orientation survey initiated in 2006 will be expanded. The program included both modern and historical methods of detecting uranium mineralization. The 2007 expansion includes track etch, surface alpha meter and soil geochemistry (mobile metal ion) surveys. The goal is to identify additional fluvial channels containing uranium mineralization.
(4) Ruby Hill Project, Thelon Basin, Nunavut
The Ruby Hill Project covers approximately 486,000 acres of highly prospective ground in the Thelon Basin. The Thelon Basin is geologically similar to the Athabasca Basin which produces nearly 30% of the world uranium requirements from high grade uranium deposits. The Thelon Basin is under-explored relative to the amount of exploration activity conducted in the Athabasca Basin. The land position Western Uranium Corporation holds in the Thelon Basin affords the Company an opportunity to discover a high grade uranium deposit.
Continuation of the 2007 exploration program started on August 3 and continued until October 5. During this period one core hole was drilled in Area 7 (RHC-07-5) and three holes were drilled on Area 6 (RHC-07-6, 7, 8). A soil geochemical sampling program using the SGH technique was undertaken over select sites on Areas 6 and 7, and 830 SGH samples were collected.
MANAGEMENT
Western Uranium Corporation's management and board of directors provide a balance of technical and financial expertise.
Directors and Officers:
Edward Flood, Chairman of the Board
Mr. Flood is currently Managing Director, Investment Banking, Haywood Securities (UK) Limited. Mr. Flood was previously the Deputy Chairman of Ivanhoe Mines and was Ivanhoe's founding President. Mr. Flood has over 35 years of experience in the international mining field. He has helped guide Ivanhoe's growth and established the company as a significant presence in Asia's mineral exploration and mining sectors. Prior to joining Ivanhoe, Mr. Flood was a principal at Robertson Stephens & Co., an investment bank in San Francisco, USA. He was a member of the Robertson Stephens' investment team for the Contrarian Fund, a public mutual fund concentrated on natural resources development projects around the world. Mr. Flood has held the position of senior mining analyst with a prominent Canadian securities firm. He holds a bachelor's degree and a master's degree in Geology.
Pamela J. Klessig, P.Geo., President, CEO, and Director
Ms. Klessig has over 27 years of experience in global mineral exploration, development and production. She began her career with Homestake Mining Company working as the mine geologist at the company's uranium Pitch Mine in Colorado. Ms. Klessig also worked for Cyprus Minerals, Amselco, BP Minerals, Kennecott and Gencor where she held positions ranging from exploration geologist to exploration manager of Mexico. In addition to her considerable exploration experience, Ms. Klessig has been a member of feasibility teams working on engineering studies, mine planning, and metallurgical projects for reserve and feasibility studies conducted on a variety of projects by BP Minerals. Ms. Klessig also worked for Indochina Goldfields, now Ivanhoe Mines, during the Initial Public Offering as the Vice President of Investor Relations. As a compliment to her technical expertise She obtained her U.S. Series 7 brokerage license and worked as a stockbroker for four years with A.G. Edwards and Sons, Inc.
John Proust, Director
Mr. Proust has successfully managed, directed and advised public and private companies regarding debt and equity financing, mergers and acquisitions and corporate restructuring since 1986.
Debra Struhsacker, M.Sc., Director
Ms. Struhsacker has over 26 years of experience working on mining, natural resource development, and environmental issues facing the exploration and mining industry. From May 2003 to May 2006, she was Vice President, U.S. Governmental and Regulatory Affairs for Kinross Gold USA, Inc.
David H.W. (Harry) Dobson, Director
Mr. Dobson is a Scottish born entrepreneur and financier with extensive interests in the natural resources sector. Mr. Dobson began his career in Australia and Canada and now pursues merchant banking and venture capital opportunities globally.
Eduard Epshtein, CA, Chief Financial Officer
Mr. Epshtein received a Diploma of Technology, with honors, from the British Columbia Institute of Technology and obtained his Chartered Accountant designation in 2005 while specializing in the mining group of PricewaterhouseCoopers LLT audit and assurance practice in Vancouver.
Neil Hillhouse, Ph.D., Senior Technical Advisor
Dr. Hillhouse has over 50 years of Canadian and international experience in the mining industry. He is the former Vice President of Exploration of Placer Development (now Barrick Gold Corporation) and former President, Chairman and CEO of Orvana Minerals Corp.
Cyrus Driver, CA, Advisor
Mr. Driver is a Chartered Accountant and was a founding partner in 1982 of the chartered accounting firm of Driver Anderson. He has over 25 years accounting experience with public companies, including numerous resource companies and is now a partner of Davidson & Company, Chartered Accountants, which combined with Driver Anderson.
John A. Rice, M.Sc., Vice President, Exploration
Mr. Rice brings over 28 years of minerals exploration experience to the Company. A field oriented geologist he has worked extensively in the western U.S., Argentina, Mexico, and Venezuela generating and evaluating a wide range of viable mineral targets.
Victor Calloway, Chief Geologist
Mr. Calloway brings over 27 years of diversified metals experience to WEDC. Mr. Calloway has an extensive background in the design and execution of regional and target specific exploration and development programs throughout the Western U.S., Mexico, Central and South America, and Asia.
NEWS UPDATE
On November 14, 2007, Western Uranium Corporation had updated its corporate activities. The spin-off of the lithium asset located at the Kings Valley project, Nevada, into an independently publicly traded company, Western Lithium Corp., is projected for completion in the first quarter of 2008. AMEC is progressing toward completion on an NI 43-101-compliant report to be available in December of 2007. Each WUC shareholder will receive a proportionate stake in Western Lithium (WLC) relative to the number of shares issued in WLC to their percentage holding in WUC.
The Company is in the process of advancing the spin-off and potential development of the project by undertaking confirmation and infill drilling, which will provide data for an NI 43-101-compliant resource calculation to follow the report.