Uracan Announces Change to Board of Directors
TSX Venture Exchange Symbol - URC
VANCOUVER, Aug. 28, 2015 /CNW/ - Uracan Resources Ltd. ("Uracan" or the "Company") (TSX.V:URC) announces the resignation of Gregg Sedun as a director of the Company. The Board would like to thank Mr. Sedun for his contributions over the past 9 years as a director, officer, as well as his co-founding role with the Company and wish him well in the future. Mr. Sedun has advised he will be available to management to assist with Uracan in the future if needed, and stated he will continue his support as a loyal shareholder.
ABOUT URACAN RESOURCES LTD.
Uracan Resources Ltd. (TSX.V:URC, OTC:URCFF) is a Canadian-based exploration company focused on exploring for uranium deposits in Saskatchewan and Quebec, Canada. In early 2013, Uracan signed an agreement with UEX Corp., whereby Uracan acquired the option to earn from UEX a 60% participating interest in the Black Lake Property along the northern margin of the Athabasca Basin. UEX currently holds an 89.99% interest in the Black Lake Project with AREVA Resources Canada Inc. ("AREVA") holding the remaining 10.01% interest.
In July 2014, Uracan signed an agreement with Forum Uranium whereby Uracan can acquire up to a 70% interest in the Clearwater Property near the southwestern margin of the Athabasca Basin, immediately adjacent to Fission Uranium's Patterson Lake South discovery. Forum is the 100% owner of the Clearwater Property.
Since 2006, Uracan has discovered a N.I. 43-101 Indicated Mineral Resource estimate of 7 million lbs U3O8 (21.5 million tonnes at a grade of 140 ppm U3O8 using a 100 ppm cut-off grade) and a N.I. 43-101 Inferred Mineral Resource estimate of 37 million lbs U3O8 (140.6 million tonnes at a grade of 120 ppm U3O8 using a 100 ppm cut-off grade) on its 100%-owned exploration properties in Quebec.
Uracan continues to review additional opportunities worldwide to capitalize on management's exploration and financing capabilities.
On behalf of Uracan Resources Ltd.
| "Clive Johnson" | "Marc Simpson" | |
| Chairman | President and CEO |
SOURCE Uracan Resources Ltd.
Contact
Marc Simpson, President and CEO, Uracan Resources Ltd., 604-506-6996; Uracan Corporate Development, 604-970-6980, www.uracan.ca,