Nova Uranium Corporation

Nova Uranium Corporation

April 25, 2007 13:28 ET

Nova Makes Significant Acquisition in Otish Basin Uranium Camp

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 25, 2007) - Nova Uranium (TSX VENTURE:NUC) is pleased to report a significant land acquisition in the highly prospective Otish Mountain uranium exploration camp in north central Quebec. This large acquisition of land involves a purchase and sale agreement to acquire an undivided 100% right, title, and interest in 6 uranium exploration properties totalling 150 claims (48 claims are pending) covering 7,973.84 hectares (19,703.1 acres). The proposed acquisition is subject to TSX Venture Exchange acceptance and to certain terms and conditions being met by the vendor. Four of the six claim blocks (totalling 5,850 hectares) are within the Otish sedimentary basin in close proximity to the well known Strateco Resources Matoush uranium discovery.

The Otish Mountain basin area is considered by many to be comparable to the Athabasca Basin of Northern Saskatchewan, which is the world's most prolific and high grade unconformity-associated mining camp. The Otish uranium exploration area is currently the focus of intense exploration activity, including the world's largest uranium producer Cameco. In its April 10th, 2007 News Release, Strateco Resources reported drill results on its Otish property of 40 lbs/ton uranium oxide (2.00%) over 16 metres including 80 lbs/ton (4.02%) U308 over 3.55 metres.

Don Moore, CEO of Nova states, "We are very pleased that our hard work in Quebec during the past two years has been rewarded today with this significant land acquisition in one of the hottest uranium exploration districts in the world right now. This is a large package that totals more than 19,000 acres of highly prospective uranium exploration property and it is a testament to Nova's work in Quebec during the past two years that we were able to put this transaction together. Prospectors and landholders in Quebec have followed our ongoing exploration program in Mont Laurier and see that when we undertake exploration, we work hard and aren't afraid to drill a lot of holes and work aggressively. The reputation of Nova Uranium as a serious exploration company helped us identify and acquire this very large land package."

The vendor, Mr. L. Marcotte of Dubuission, Quebec will receive up to 225,000 shares of Nova and a cash payment of $40,000 upon the completion of this transaction.

Nova Uranium has an ongoing exploration program in Mont Laurier, Quebec and is now formulating an exploration program for the company's newly acquired 7,974 hectares (19,703 acres) land package in the Otish Basin Uranium Camp.


Donald G. Moore, Chairman, CEO and Director

Mr. Michael Moore, PGeo is the qualified person who has reviewed the technical information contained in this news release on behalf of the Company.

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

Contact Information

  • Nova Uranium Corporation
    Donald G. Moore
    Chairman, CEO and Director
    (604) 687-7178 or Toll Free: 1-800-398-5645