White Canyon Acquires Red Canyon Tenements

25 April 2010 (Last Updated April 25th, 2010 18:30)

White Canyon Uranium has acquired 74 mineral tenements at Red Canyon in the White Canyon district, referred to as the Yellow Parrot project. The company purchased the properties through an option agreement from a private prospecting syndicate for $40,000 in cash and securities (690,024

White Canyon Uranium has acquired 74 mineral tenements at Red Canyon in the White Canyon district, referred to as the Yellow Parrot project.

The company purchased the properties through an option agreement from a private prospecting syndicate for $40,000 in cash and securities (690,024 ordinary shares) for a combined value of $200,000.

The deal further consolidates the company's project areas at Red Canyon (Daneros, Lark Royal, Radium King, Spook and Maybe) and increases its landholding in Utah from 14,000 acres to approximately 15,500 acres with in excess of 1,450 additional acres at Red Canyon.

White Canyon Uranium said the addition of the Yellow Parrot will allow it to expand its operations in the Red Canyon with the comfort of knowing that the extensions of the known mineralisation and the projected mineralisation in its area of operations has been secured under entire ownership by the company.