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nrj · 12-10-2005, 14:17

gerade heute bekommen sie in FF eins auf den deckel und kontern mit dieser News!!!

Northwestern signs letter of intent to acquire uranium project in Athabasca basin, Saskatchewan, Canada

2005-10-12 09:00 ET - News Release

TORONTO, Oct. 12 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB: NWTMF) has signed a Letter of Intent to acquire up to 75% ownership of nine highly prospective uranium claims in the eastern Athabasca Basin, Saskatchewan, Canada, from CanAlaska Ventures Ltd. (TSX-V: CVV). Known collectively as the "Waterbury Project," the claims are situated within 12 kilometers (7 miles) of the second largest, high-grade uranium deposit in the world.

"We are very excited about the potential that these uranium claims offer, especially in light of the world's renewed interest in nuclear energy," said Kabir Ahmed, President and CEO of Northwestern. "This acquisition comes on the heels of our recently announced deal for two uranium-vanadium mines in Utah and augments our growing uranium property portfolio. Saskatchewan's Athabasca Basin is renowned for hosting several of the world's most prolific high-grade uranium mines. Northwestern looks forward to developing its prospects in this globally recognized mining region."

The Waterbury Project consists of nine mineral claims totaling 12,417 hectares (30,683 acres). The claims are all favorably located, in close proximity to several known unconformity-type uranium deposits. Today, all of Canada's uranium production comes from unconformity-related deposits. Two major fault systems associated with significant uranium deposits underlie the Waterbury Project property area. Private roads maintained by major uranium producers cross the property area, as do numerous drill roads. Daily air service and a provincial highway also serve the area.

According to the World Nuclear Association, Saskatchewan produced approximately 30% of the world's total uranium production in 2004, making it the world's largest uranium producing district. To put this power into perspective, Saskatchewan's uranium reserves have the equivalent energy potential of four billion tonnes of coal or 19 billion barrels of oil.

Under the terms of the Letter of Intent, Northwestern will pay, in installments, a total of C$150,000 to acquire an initial 50% interest in the Waterbury Project from CanAlaska. In addition, CanAlaska would receive a 3% net smelter royalty (NSR) and 300,000 shares from Northwestern's treasury to be released in stages beginning on or prior to the Execution Date of the Formal Agreement, which will incorporate the terms of the Letter of Intent. These shares will be subject to any regulatory hold periods. Northwestern has agreed to spend a minimum of C$2.0 million on the Waterbury Project prior to April 1, 2008. Northwestern can boost its ownership to 60% by spending an additional C$2.0 million on the property within two years of vesting its 50% interest. Thereafter, Northwestern can increase its stake to 75% by completing a Bankable Feasibility Study within two years from the date it vests its 60% interest. During this development stage, Northwestern would spend an annual minimum of C$500,000 at Waterbury. CanAlaska would also receive an additional 200,000 shares from Northwestern's treasury.

CanAlaska will act as operator of the property until Northwestern has a vested 60% interest, at which time Northwestern may become the operator.

The Letter of Intent is subject to regulatory approval, due diligence and environmental assessment. Other terms of the agreement were not released.

James S. Kermeen, P.Eng., a qualified person as defined by National Instrument 43-101, is responsible for the preparation of technical information in this news release.

ABOUT NORTHWESTERN:

Northwestern Mineral Ventures (www.northwestmineral.com) is an emerging international exploration company with an experienced management team. The company is focused on properties with potential uranium and silver-gold targets and currently has interests in the United States, Canada and Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this news release.

This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

SOURCE Northwestern Mineral Ventures Inc.

12-10-2005, 14:17	#111
nrj TBB Goldmember Registriert seit: Dec 2004 Beiträge: 641	Und schon wieder nen geiles Uran-Projekt!! gerade heute bekommen sie in FF eins auf den deckel und kontern mit dieser News!!! Northwestern signs letter of intent to acquire uranium project in Athabasca basin, Saskatchewan, Canada 2005-10-12 09:00 ET - News Release TORONTO, Oct. 12 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT; OTCBB: NWTMF) has signed a Letter of Intent to acquire up to 75% ownership of nine highly prospective uranium claims in the eastern Athabasca Basin, Saskatchewan, Canada, from CanAlaska Ventures Ltd. (TSX-V: CVV). Known collectively as the "Waterbury Project," the claims are situated within 12 kilometers (7 miles) of the second largest, high-grade uranium deposit in the world. "We are very excited about the potential that these uranium claims offer, especially in light of the world's renewed interest in nuclear energy," said Kabir Ahmed, President and CEO of Northwestern. "This acquisition comes on the heels of our recently announced deal for two uranium-vanadium mines in Utah and augments our growing uranium property portfolio. Saskatchewan's Athabasca Basin is renowned for hosting several of the world's most prolific high-grade uranium mines. Northwestern looks forward to developing its prospects in this globally recognized mining region." The Waterbury Project consists of nine mineral claims totaling 12,417 hectares (30,683 acres). The claims are all favorably located, in close proximity to several known unconformity-type uranium deposits. Today, all of Canada's uranium production comes from unconformity-related deposits. Two major fault systems associated with significant uranium deposits underlie the Waterbury Project property area. Private roads maintained by major uranium producers cross the property area, as do numerous drill roads. Daily air service and a provincial highway also serve the area. According to the World Nuclear Association, Saskatchewan produced approximately 30% of the world's total uranium production in 2004, making it the world's largest uranium producing district. To put this power into perspective, Saskatchewan's uranium reserves have the equivalent energy potential of four billion tonnes of coal or 19 billion barrels of oil. Under the terms of the Letter of Intent, Northwestern will pay, in installments, a total of C$150,000 to acquire an initial 50% interest in the Waterbury Project from CanAlaska. In addition, CanAlaska would receive a 3% net smelter royalty (NSR) and 300,000 shares from Northwestern's treasury to be released in stages beginning on or prior to the Execution Date of the Formal Agreement, which will incorporate the terms of the Letter of Intent. These shares will be subject to any regulatory hold periods. Northwestern has agreed to spend a minimum of C$2.0 million on the Waterbury Project prior to April 1, 2008. Northwestern can boost its ownership to 60% by spending an additional C$2.0 million on the property within two years of vesting its 50% interest. Thereafter, Northwestern can increase its stake to 75% by completing a Bankable Feasibility Study within two years from the date it vests its 60% interest. During this development stage, Northwestern would spend an annual minimum of C$500,000 at Waterbury. CanAlaska would also receive an additional 200,000 shares from Northwestern's treasury. CanAlaska will act as operator of the property until Northwestern has a vested 60% interest, at which time Northwestern may become the operator. The Letter of Intent is subject to regulatory approval, due diligence and environmental assessment. Other terms of the agreement were not released. James S. Kermeen, P.Eng., a qualified person as defined by National Instrument 43-101, is responsible for the preparation of technical information in this news release. ABOUT NORTHWESTERN: Northwestern Mineral Ventures (www.northwestmineral.com) is an emerging international exploration company with an experienced management team. The company is focused on properties with potential uranium and silver-gold targets and currently has interests in the United States, Canada and Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT." The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. SOURCE Northwestern Mineral Ventures Inc.