The Endurance Fund Corporation
NEX BOARD : END.H

November 02, 2007 13:27 ET

The Endurance Fund Corporation Announces the Closing of Its Qualifying Transaction With North American Uranium Corp.

TORONTO, ONTARIO--(Marketwire - Nov. 2, 2007) - The Endurance Fund Corporation (the "Corporation") (NEX BOARD:END.H), a capital pool company, announces today that on October 31, 2007 it received conditional approval from the TSX Venture Exchange (the "Exchange"), concerning its previously announced Qualifying Transaction with North American Uranium Corp. ("NAUC"). Details of the proposed Qualifying Transaction can be found in the joint Filing Statement of the Corporation and NAUC filed on SEDAR under the Corporation's profile at www.sedar.com. A technical report concerning the resulting issuer's principal property, prepared in connection with the transaction, is also available on SEDAR under the Corporation's profile. Closing of the transaction and its concurrent private placement is expected to occur on or about November 15, 2007, subject to the satisfaction of all closing conditions. Upon the closing of the transaction and the private placement, the Corporation will make application to list on the Exchange as a Tier 2 Issuer and recommence trading.

Investors are cautioned that, except as disclosed in filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to the Corporation and NAUC. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. The Corporation and NAUC have no intention or obligation to update the forward-looking statements contained in this press release.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • The Endurance Fund Corporation
    Jason Monaco
    (416) 742-5600
    or
    North American Uranium Corp.
    Steve Stares
    (807) 475-7474