Windarra Minerals Ltd.

Windarra Minerals Ltd.

October 26, 2011 16:32 ET

Windarra (TSX VENTURE:WRA) Purchases Cameco Corporation's 50% Interest in Little Deer Lake Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2011) - Windarra Minerals Ltd. (TSX VENTURE:WRA) ("Windarra") is pleased to announce that it has agreed to purchase Cameco Corporation's ("Cameco") 50% interest in the 1,403 ha Little Deer Lake property, for $25,000. This will increase Windarra's interest in the property to 70%, while AREVA Resources Canada Inc. and Cameco will each retain a 15% interest. The property lies within the southern La Ronge gold belt of northern Saskatchewan, approximately 60 kilometres north of the town of La Ronge, along Highway 102. It also lies next to the past-producing mine, which was owned by Cameco Corporation and Uranerz Exploration and Mining Limited. The mine opened in January 1995 with published reserves of 499,000 ounces of gold, but was closed in 1997 after production of only 190,000 ounces. The Little Deer Lake project saw considerable exploration work by Cameco and Windarra dating back to 1979 and the Company believes that significant untested exploration potential remains. The first step in Windarra's renewed interest will be to compile the available historical exploration data for the property, in order to provide a basis for further evaluation.

On behalf of the Board of Directors

John Pallot, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information