LAS VEGAS, March 19, 2007 (PRIME NEWSWIRE) -- CanAm Uranium Corp. ("CanAm" or the "Company") (OTCBB:CAUI) is pleased to announce today that it has filed it's quarterly report, Form 10Q-SB for the quarter ending January 31, 2007. The company reports that it has spent over $450,000 on mineral property acquisition during the quarter, including the Bancroft claims in Ontario, Canada and the Wheeler-Beckett property in Saskatchewan, Canada, and will be commencing drilling and exploration activity on its various claims over the upcoming months.
"We are required, for accounting purposes, to treat the payments as expenses as they are options to acquire between 60% and 100% of the various properties. Once we exercise the options these will become assets of the company," said David Hayes, CFO.
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