CANADIAN STOCK EXCHANGES – AUGUST – 2013

By: E. A. SCHILLER

THERE IS A REAL URANIUM BUZZ IN SASKATCHEWAN

For those of you who have been following my uranium tales from Saskatchewan will have observed that Alpha Minerals Inc (AMW-TSX-V) and Fission Uranium Corp (FCU-TSX-V) have moved up nicely as July comes to an end. The rise in stock prices was due to the release of partial results of their first hole in the summer drill program, hole PLS 13-072 that returned a broad 85.5 meter interval (62.0 to 147.5) of variably radioactive mineralization including a 18.93 meters of off-scale (greater than 9,999 counts per second – cps) in numerous narrow intervals throughout. This summer program amounts to a $6.95 million, 11,000 m of drilling and ground geophysical surveys on the very prospective South Patterson Lake South property. AMW showed a lot of strength in late July trading up to $5.60, up from under five dollars earlier and FCU showed a similar pattern by moving up to $1.05, up from under 90 cents earlier. BREAKING NEWS - as we went to press the two companies announced on July 29 some more impressive drill results on hole 073 and 075 one of which hit 21.65 meters total “off scale” radioactivity within 70 meters of mineralization at R390E Zone. The AMW stock on the 29th rose to $5.80 on these positive results and then backed off to $5.40. Profit taking took place as did Fission (closing at 97 cents on July 31), but the market still recognized this exceptional project with good daily volumes. The prognosis is if you are a believer hang in there and for those looking for easy money, exit is easy with the volumes trading.

Neighbour Azincourt Uranium Inc. (AAZ-TSX-V) who recently signed a joint-venture agreement with Fission on a 274-sq.km property adjacent to Patterson Lake to the north has generated a lot of interest with a forthcoming geophysical and drill program in the making. AAZ stock has strengthened from 15 cents in May to 24 cents and has responded favourably with the AMW/FCU results.

Long time Saskatchewan uranium miner and explorer Denison Mines Corp (DML-TSX-V) received some encouragement from their Wheeler River project along the western margin of the Phoenix A deposit in reporting a 10.3 meter of 43.2 % triuranium octoxide equivalent (eU308). Like the Alpha/Fission reported intersection these are down-hole radioactive responses to a scintillometer measuring device used as a first pass in measuring radioactivity in open drill holes.

The Dension drill program this summer is part of 23 hole program designed to evaluate possible high-grade extensions outside of a previously drilled higher-grade domain. Wheeler River lies between the McArthur River mine and Key Lake mill complex in the hosting Athabasca basin on its eastern edge. Denison has four other on-going exploration programs in the basin in various stages of execution. The stock in late July traded around $1.30 up from earlier $1.25 levels. Denison was involved in a Fission Minerals take over after which Fission became Fission Uranium and retained their South Patterson Lake project.

Another nearby explorer Forum Uranium Corp (FDC-TSX-V) completed an electromagnetic and magnetic survey on its 100% owned Clearwater project on the claim boundary immediately southwest of the Alpha/Fission Patterson Lake South (PSL) uranium discovery. Preliminary results confirm that the conductive trend from PSL extends onto the Forum property that warrants a follow-up ground geophysical survey and detailed surface prospecting. Earlier Alpha/Fission had discovered many uranium mineralized boulders on their property which proved to be important in delineating in-place uranium mineralization confirmed by drill holes. Forum stock trades near the mid-thirty range and has traded recently a little lower and a little higher.

As summer begins to wind down uranium exploration in northern Saskatchewan is winding up and we can expect some encouraging results from the above programs. There seems to be an element of optimism in worldwide nuclear usage and for new demands of radioactive fuel in the future.

Switching to diamonds it is encouraging to see Stornoway Diamond Corp (SWY-TSX-V) has received a positive environmental assessment decision for its Renard Diamond project in the James Bay region. Quebec. The company now has all of the major Quebec and federal government permits needed to begin construction. New resource diamond estimates are - a total indicated of 27.1 million carats, a total inferred of 16.9 million carats and a potential of between 25.7 and 47.8 million carats. The stock has traded in the mid-fifty cent range much of this year.