LAS VEGAS, April 16, 2007 (PRIME NEWSWIRE) -- CanAm Uranium Corp. ("CanAm" or the "Company") (OTCBB:CAUI) is pleased to announce that it has received notification from Saskatchewan Industry & Resources of the completion of title transfer for the Wheeler Beckett Claims located in the Saskatchewan Athabasca Basin. On November 29th 2006, CanAm acquired a 100% interest in the Wheeler Beckett Claims through an option agreement with Northwind Resources. Under the terms of the agreement, CanAm is required to pay C$250,000 and issue 1,000,000 common shares to Northwind on or before November 29th 2007. Northwind was also granted a 2.5% NSR, of which 2% can be purchased for C$1,000,000.
"The transfer of title puts CanAm Uranium Corp on the map in the Athabasca Basin. Officially the Saskatchewan Government and Third Party Map designers such as Intierra Mapping, can put our name where it belongs, right beside International Uranium Corp., CanAlaska, Cameco and JNR Resources Inc.," says Ryan Gibson, CEO. The Wheeler-Beckett Property is located 24 miles south east of the world-class McArthur River and Cigar Lake Mines that have a combined proven reserve of over 600 million pounds of uranium.
In preparation for the Wheeler Beckett Summer Work Program, the Company is evaluating an extensive archive of historic data, which includes satellite geochemical and historic radiometric/gravity surveys. Information examined thus far strongly supports the Company's decision to fly the Wheeler-Beckett claim block to determine potential unconformities that could host uranium. The summer program is to consist of high resolution heliborne EM and radiometrics, which will be supported by a field survey and sampling program.
Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on CanAm's website does not constitute a part of this release.
About Us
CanAm Uranium Corp. is a Nevada incorporated junior resource company with a corporate objective focused on the strategic acquisition and development of exploration properties in well-known prolific mining areas, especially known for Uranium, of Canada, Southern Africa, Australia and the United States. CanAm Uranium Corp. has optioned over 136,000 acres of claims collectively within the Saskatchewan Athabasca Basin, Ontario and British Columbia, with significant interest in prolific Uranium mining areas. http://www.CanAmUranium.com