First American Uranium Inc. (CSE: URM) (OTCPK: FAUMF) announced in a press release today the addition of 60 staked claims at its Red Basin Uranium and Vanadium project in Catron County, New Mexico, bringing its total to 86 claims in the basin to date.
The project is located about 250 miles south of the only operating uranium mill in America. According to the company’s NI 43-101 Report, evaluations of the property from several sources confirm the presence of uranium/vanadium deposits, indicating the potential to become an advanced-stage project. Shawn Balaghi, First American Uranium’s CEO noted, “We will continue to identify and evaluate the best opportunities in the project area and work to strategically acquire further ground as we advance the project.”
U.S. shares were flat at $0.724 in aftenroon trade.
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