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AREVA Resources Canada Inc. Interests in Nunavut

AREVA Resources Canada Inc has three uranium exploration properties in Nunavut – Kiggavik, Sissons and St. Tropez. The Sissons property is located approximately 80 km west of Baker Lake, Nunavut, at 64.20 N and 97.52.5 W. It consists of 20 mineral leases totalling 12,725 ha. The project is operated by AREVA Resources Canada Inc. (50%) in joint venture with JCU Exploration (Canada) Co. Ltd. (48%) and DAEWOO Corporation (2%).

The Kiggavik property is located approximately 80 km west of Baker Lake, Nunavut, at 64°26' N and 97°40' W. The Kiggavik property consists of 17 mineral leases totaling 3,972 ha. The project is operated by AREVA Resources Canada Inc. (99%) in joint venture with DAEWOO Corporation (1%).

The St Tropez property is located immediately north of the Kiggavik property. It consists of 18 new claims totaling 16,695 hectares. It has yet to be explored.

Exploration work was carried out at the Kiggavik and Sissons properties between 1974 and 1997 resulting in 3 ore deposits and some prospects. Work was suspended in 1997 due to low uranium prices. In 2006, a public information office was opened in Baker Lake and work began on a project viability study. Airborne geophysics work is planned for the Kiggavik, Sissons and St Tropez properties in 2007 and drilling will take place at the Kiggavik and Sissons sites. Depending on the results of the geophysics work at the Kiggavik and Sissons properties, drilling may continue in 2008. Evaluation of existing core and possible SWIR analysis is to be undertaken concurrently with the airborne geophysics.

The Kiggavik Project
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