May 13 2013
Zadar Ventures Ltd. is pleased to announce that the TSX Venture Exchange has accepted for filing an Option Agreement between the company and an arm's length vendor, whereby the company can earn a 100% interest in the Bull Run uranium project, located in the prolific southwestern Athabasca Basin,.
The Bull Run project comprises 3 claim groups totaling 9,185 hectares. All three properties are favorably located geologically; along major faults or fault zones, with intersecting smaller scale faults; and within several kilometres from known uranium zones.
Block A (~4,515 ha) is located 30 kilometres north of the Patterson Lake South uranium discovery (Fission Energy Corp./Alpha Minerals Inc.) and 40 kilometres south of the Shea Creek uranium deposit (UEX Corp./AREVA), the largest undeveloped uranium resource in the Athabasca Basin (http://www.uex-corporation.com/s/shea_creek.asp?ReportID=477100). The claims lie just east of the all-weather Highway 955, which runs north to the former Cluff Lake mine (+ 60 million pounds of U3O8 produced).
Block B (~3,138 ha) is located 50 kilometres east of the Patterson Lake uranium discovery and 50 kilometres west of the Centennial uranium deposit (Cameco/AREVA/Coronation Mines). This McArthur River style uranium deposit is currently under active exploration and development (http://www.formationmetals.com/s/VirginRiver.asp).
Block C (~1,532 ha) is located 12 kilometres west of the Centennial uranium deposit.
The company will make cash payments totaling $265,000 and issue 550,000 shares over a period of six years. In addition, there are property expenditures of no less than $50,000 on or before July 2015 and $100,000 on or before July 2016.
Zadar Ventures Ltd. is a junior Uranium exploration company focused on acquiring and exploring for economically viable mineral resources in the prolific Uranium producing Athabasca Basin.