Western Uranium Proposes Name Change to Concordia Resource Corp.
14.03.2011 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/14/11 -- Western Uranium Corporation (TSX VENTURE: WUC) ('the Company' or 'WUC') is pleased to announce that the Board of Directors of the Company has approved, subject to regulatory approval, a change of name of the company to Concordia Resource Corp.The proposed change of name reflects the Company's strategy for expansion through acquisition and exploration globally, and through a shift in focus from uranium into a more diversified exploration and development company.
As part of this ongoing strategy the company last week completed and announced the sale to Western Lithium USA Corporation the royalties and titles constituting substantially all of the Kings Valley uranium property holdings in Nevada for Cdn$6.85 million, paid through the issue to WUC of 5,855,000 WLC common shares. The Company retains the Albisu gold project which was delineated by a regional drill program in 2009.
Furthermore, as part of its growth strategy, the Company last week announced that Meryllion Minerals, its wholly owned subsidiary , had acquired an option to purchase the Providencia silver-copper prospect located in Jujuy Province, Argentina. Meryllion has also acquired an option to purchase the 14,000-hectare Cerro Amarillo-Cajon Grande copper-gold property located in the Malargue District, in Argentina.
ABOUT MERYLLION
Meryllion Minerals is a 100% owned subsidiary of Western Uranium with the charter to conduct mineral exploration in South America with a primary focus on precious and base metals. Meryllion also has an option to purchase a 100% interest in the Cerro Amarillo copper-gold porphyry deposit located in Mendoza Province, Argentina. Meryllion operates out of offices in Buenos Aires under the direction of Dr. Willem Fuchter, a PhD geologist with extensive international experience.
ABOUT THE COMPANY
Western Uranium Corporation is a mineral exploration company with properties in Argentina, Nevada, and New Mexico and an earn-in agreement with Renaissance Gold Inc. for the Baza gold-copper project in Spain. The Company has its head office and executive management team in Vancouver, Canada; and its technical team is based in Reno, Nevada.
On behalf of the Board of Western Uranium Corporation
R. Edward Flood, Chairman
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Western Uranium Corporation
Karl Cahill, Manager, Investor Relations
+1-858-531-6100
Western Uranium Corporation
Richard Roy, Corporate Communications
+1-604-669-6446
info@westernuranium.com
www.westernuraniumcorp.com