Magnum Uranium Acquires Significant San Raphael Data Package
Wed Aug 22, 6:13 PM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2007) - Magnum Uranium Corp. ("Magnum" or the "Company") (TSX VENTURE: MM.V) is pleased to announce the acquisition of a data package containing extensive information on past exploration results pertaining to the Company's San Raphael Project located in Emery County, Utah. The data package will allow Magnum to significantly expedite the development of this project. Consideration to the non-arm's length vendor comprises a cash payment of $50,000 and the issuance of 300,000 common shares in quarterly increments of 75,000 shares each. A net smelter royalty ranging from 0.5% to 2.0% has also been granted to the vendor on Magnum's joint-venture interest in the project. The transaction is subject to approval by the TSX Venture Exchange.
Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, Magnum's primary property holdings are located in the Western United States, specifically Wyoming, Utah, Idaho, and New Mexico, and in Canada's Athabasca Basin.
ON BEHALF OF THE BOARD
Craig T. Lindsay, President & CEO
Contacts
Craig T. Lindsay
Magnum Uranium Corp.
President & CEO
(604) 683-2507
(604) 683-2506 (FAX)
Email: info@magnumuranium.com
Website: www.magnumuranium.com |
