Kakanda Development Corp.
TSX VENTURE : KRC

Kakanda Development Corp.

November 13, 2007 08:00 ET

Kakanda Purchases Hinterland's Otish Basin Uranium Interest

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2007) - Kakanda Development Corp. (Kakanda) (TSX VENTURE:KRC) is pleased to announce that it has agreed to purchase Hinterland Metals Inc.'s 50% joint venture interest in the 41-claim Tonka and 112-claim Euro uranium properties for 500,000 treasury shares of Kakanda to be issued subject to and upon regulatory approval.

Following completion of this transaction and the recent "Gateau" purchase (Kakanda News Releases dated July 4, 2007 and November 6, 2007) Kakanda will hold a 100% interest in 487 claims (approximately 26,000 hectares) in the Otish Basin Area of Quebec.

Kakanda's mineral claims in the Otish Basin hold potential to host fault-controlled uranium mineralization similar to that discovered at the nearby Matoush Project and also offer potential for classic unconformity-type uranium mineralization similar to the deposits currently mined in Saskatchewan's Athabasca Basin.

On Behalf of the Board,

Kakanda Resources Corp.

Steve Smith, President

Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above and in the corporation's periodic filings with the British Columbia Securities Commission and the U.S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation does not intend to update this information and disclaims any legal liability to the contrary.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Kakanda Development Corp.
    Steve Smith
    President
    (604) 642-0115
    (604) 642-0116 (FAX)
    Email: steve.smith@telus.net