Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (45560)	10/20/2009 9:45:22 PM
From: LoneClone	Respond to of 193999

Bayswater Files Pre-Feasibility Report for Reno Creek Project, Wyoming and Information Circular for the Transaction Tue Oct 20, 2:42 PM ca.news.finance.yahoo.com VANCOUVER--(BUSINESS WIRE)--Bayswater Uranium Corporation (TSX-V: BAY), (OTC: BYSWF) is pleased to announce that a Pre-Feasibility Study dated September 28, 2009, by TREC, Inc. for the Reno Creek Uranium Project, Wyoming, as referenced in the Company’s press release dated August 24, 2009, has now been filed on SEDAR at www.sedar.com. Additionally, the Company is pleased to advise that an Information Circular dated October 5, 2009 setting out the proposed transaction with Strathmore Resources (US) Ltd., a wholly owned subsidiary of Strathmore Minerals Corp (TSX-V: STM), and American Uranium Corp (OTC: ACUC) whereby the Company shall acquire a 100% interest in the Reno Creek Uranium Project (“the Project”) and its holding company, AUC LLC (the “Transaction”), has been mailed to shareholders and filed on SEDAR. The transaction was announced on August 24, 2009 and the Extraordinary Meeting to consider the Transaction has been set for November 16, 2009. A closing date for the Transaction has yet to be scheduled, but is anticipated to occur before December 31, 2009. Terms of the Transaction As previously announced, the aggregate purchase price for a 100% interest in the Reno Creek Uranium Project is US$32 million. No finder’s fees are payable in respect of the acquisition. Of the aggregate purchase price, US$30 million in cash is payable to Strathmore for a 100% interest in the property, AUC LLC and all related assets, and US$2 million, payable US$1 million in cash and US$1 million through the issuance of common shares of Bayswater, is payable to American Uranium in exchange for its option rights to the property and a large data base plus a UIC (deep well injection) permit. A non-refundable deposit of US$250,000 in cash has been paid to Strathmore in conjunction with the signing of the letter of intent, which is credited against the US$30 million purchase price. Copies of the agreements entered into with Strathmore and American are available on SEDAR at www.sedar.com. A formal purchase agreement between Strathmore, American and the Company is expected to be executed shortly and will be filed on SEDAR. Financing of up to CDN$50 million is required to complete the acquisition of the Reno Creek Project and for related working capital in order to advance the Project pursuant to the production time-line. To raise the needed capital, Bayswater plans to undergo a restructuring, including a consolidation of the Company’s share capital, as disclosed in the information circular. Any consolidation of Bayswater’s share capital will be subject to regulatory and shareholder approval. About Bayswater Uranium Corporation - The Super Junior Uranium Company TM Bayswater Uranium Corporation is an international uranium exploration and development company. The Company owns several advanced uranium properties in the United States with significant historical resources that may be amenable to ISR and/or conventional mining. As well, Bayswater is 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 combines a balanced portfolio of advanced and exploration projects with the uranium expertise of its technical and managerial teams. To capitalize on current market conditions and strong growth of the nuclear industry, the Company is pursuing acquisition opportunities of advanced-stage uranium projects with near-term production potential. Bayswater's vision is to build a major international uranium company. Shares of the Company are listed on the TSX Venture Exchange under the symbol “BAY”. For further information visit www.bayswateruranium.com. On behalf of the Board of: BAYSWATER URANIUM CORPORATION George M. Leary President Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in mineral exploration, development and mining. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on such statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Bayswater Uranium Corporation John Gomez, 604-687-2153 Manager, Investor Relations

To: LoneClone who wrote (45560)	10/20/2009 9:46:02 PM
From: LoneClone	Read Replies (1) \| Respond to of 193999

Adventure Gold Completes First Phase Exploration Work on Meunier-144, West Timmins Area Tue Oct 20, 12:16 PM ca.news.finance.yahoo.com MONTREAL, QUEBEC--(Marketwire - Oct. 20, 2009) - Adventure Gold Inc. (TSX VENTURE: AGE.V) (the "Company"), has completed the first phase of exploration work on the Meunier-144 property located in the western part of the prolific Timmins gold camp which has produced more than 70M ounces of gold. The Company is fulfilling its first year work commitment of $150,000 over a five-year Option Agreement to earn a 100% interest in the property. To date, approximately $160,000 has been invested in compiling, prospecting, modelling and the drilling of 1,205 meters near surface. A second phase of deep exploration drilling for a total of at least 3,500 meters is planned to test the down plunge extension of the Timmins Mine Project (Mineral Reserves of 3.4 million tonnes at a grade of 7.5 grams per tonne - 812,000 ounces of gold) owned by Lake Shore Gold Corp., which is defined up to 475 meters east of our property boundary. The Meunier-144 property (figure 1, see Adventure Gold website) also adjoins the Thunder Creek property, a joint venture project between West Timmins Mining Corp. and Lake Shore Gold Corp., which encompasses the Rusk Zone where last summer's drill results returned up to 12.8 g/t Au over 83.4 meters. The first drill program on Meunier-144, which consisted of three shallow holes designed to test five Induced Polarization (IP) anomalies, was completed during the summer 2009. One hole also tested the Bristol Fault rock package, a regionally extensive structure spatially related to the Timmins Mine gold deposit and associated with the Destor Porcupine Fault Zone. Drilling highlighted the presence of many quartz carbonates veins in mafic rocks associated with a major fault, which we interpreted as the South Bristol Fault rock package (figure 2). Hole M-09-03 intersected the Bristol Fault and investigated 150 m of this favourable assemblage. Holes M-09-01 and M-09-02 tested IP anomalies which have been explained by the presence of disseminated and stringer sulfides inside mafic flow breccias. Gold values from recent drilling did not exceed 0.1 g/t, a gold range which may indicate that we are approaching an ore zone like the Ultramafic Zone at the Timmins Mine Project. Accordingly, the 2010 follow-up drill program of 3,500 meters will require deeper drill-holes. It will include the deep extension of the Timmins Mine Project gold mineralized zones (figure 3) and the ultramafic north limb structure (figure 4) targets. The ultramafic north limb structure is the host of the Zone 17 (5 g/t Au over 5.4 meters) on the Cripple Creek property located 5 kilometers to the Southwest (Richmont Mines, press release dated September 23, 2009). Marco Gagnon said: "The recent exploration work has provided us with the necessary geological and technical information in order to prepare our 2010 deeper drill program. Our three dimensional modelling of previous work, which includes Lake Shore Gold's public information, will be used to guide the next deep drill program." Jules Riopel P.Geo. Vice-President Exploration and Acquisitions, who acts as the Company's "Qualified Person" as defined by NI 43-101, has reviewed this press release. Profile: Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Quebec and Timmins, Ontario areas and is led by determined management and technical teams with extensive exploration and mine production experience. The Company will be active in 2009 with $1,150,000 slated for exploration in the Val-d'Or and Timmins regions and will continue to aggressively seek new properties in compliance with the corporate strategy. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contacts Marco Gagnon Adventure Gold Inc. President & CEO 613-745-4041 marco@adventure-gold.com Jules Riopel Adventure Gold Inc. Vice-President Exploration and Acquisitions 819-797-9770 jules@adventure-gold.com www.adventure-gold.com