LAS VEGAS, March 9, 2007 (PRIME NEWSWIRE) -- CanAm Uranium Corp. ("CanAm" or the "Company") (OTCBB:CAUI) is pleased to announce their upcoming 2007 exploration program in the World-Class Athabasca Basin Uranium District. The Company recently announced (December 18, 2007) its option to acquire the Wheeler-Beckett claims to form the cornerstone of its regional development strategy in Saskatchewan.
Wheeler-Beckett Program
The Wheeler-Beckett property consists of 11 contiguous claims comprising approximately 126,000 acres (51,000 ha) on the eastern margin of the basin (see location map at www.canamuranium.com) with similar mineralization styles as found at the McArthur River mine of Cameco/Cogema. The claims are located approximately 24 miles from the McArthur River mine, the largest, high-grade uranium mine in the world (reserves of 389.1 million tonnes grading 24.3% U3O8 and producing 18.7 million pounds of uranium per year).
The 2007 exploration budget of CDN$1 million and will include radiometric geophysical survey (CDN$600,000), ground proofing and mapping (CDN$200,000) and follow-up trenching and sampling (CDN$200,000). Recent magnetic geophysics has indicated a strong correlation to and indicates continuity with JNR Resources' (TSX-V:JNR) Way Lake and Moore claims.
"We are excited to be working in such a prolific belt of renowned uranium mines", said Ryan Gibson, President and Chief Executive Officer of CanAm Uranium. "It's impressive to have such a large land package in a district that accounts for over 30% of global uranium production which increases our chances of exploration success."
The magnetic geophysics map of Wheeler-Beckett Claims is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3442
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
