Zadar Ventures Ltd. (TSX VENTURE:ZAD)(FRANKFURT:ZAV) (the "Company") is pleased
to announce that it has executed a definitive Purchase and Sales agreement with
Canterra Minerals Corporation ("Canterra"), Triex Minerals Corp. ("Triex"), a
wholly owned subsidiary of Canterra, and African Oil Corp. whereby Zadar has
purchased a 100% interest in the Highrock and Riverlake Uranium projects. Under
the terms of the agreement the Company will issue 330,000 common shares
(160,000to Canterra and 170,000 to African Oil Corp.). Canterra will also retain
a 2% NSR on the projects with a buyback of 1% for $1 million.


The Highrock project (5,831 hectares) has a similar geological setting to the
past producing and historic Key Lake mine (Gaertner and Deilmann uranium-nickel
orebodies). Historic Key Lake open pit uranium production (1983 to 2002) was
209.8 million pounds. The northwest corner of the Highrock property is 8 km from
the Key Lake mine. Historic exploration comprised airborne and ground
electromagnetic surveys, soil sampling and diamond drilling. The B1 target on
the Highrock property covers part of the eastern limb of the Key Lake syncline,
which hosts uranium mineralization at the P-Patch prospect, 7 kilometres north
of the B1 target, and the Key Lake uranium-nickel ore bodies. The P-Patch
uranium prospect mineralization, is located about 75 metres below the
unconformity. Numerous small radioactive pitchblende pebbles have been
discovered 5 kilometres southwest of the P-Patch deposit and immediately west of
the Highrock property claim boundary. The pitchblende pebbles (average 20.4%
U3O8 (17.3% U) and 3.70% Ni; may represent glacial erosion of uranium
mineralization possibly located on the Highrock property.


The Riverlake project (5,583 hectares) has a similar geological setting to the
past producing and historic Key Lake mine (Gaertner and Deilmann uranium-nickel
orebodies). Historic Key Lake open pit uranium production (1983 to 2002) was
209.8 million pounds. Past exploration comprised airborne and ground
electromagnetic surveys, soil sampling and diamond drilling. A 1,200 metre long
NE-SW by 600 metre wide NW-SE soil anomaly with peak uranium values of 3.74 ppm
and coincident elevated to anomalous arsenic, molybdenum, vanadium and lead
values was identified (A1 target). The A1 target covers a set of three
sub-parallel electromagnetic conductors having a combined strike length of 5 km
and interpreted to be a single metasedimentary unit that is disrupted by folds
and faults. Reconnaissance drilling in 2008 intersected continuous and
significantly anomalous radioactivity within sheared and fault-brecciated
basement rocks of graphitic metapelite and pegmatite. One hole intersected a 63
metre interval exhibiting 5 to 10 times background radioactivity including a
measured 2,625 cps in schistose graphitic fault breccias. Geochemically, the
radioactive graphite schist breccias have anomalous uranium contents up to 3.34
ppm, with interleaved pegmatite bands containing up to 116 ppm uranium. Of the
key pathfinder elements, boron correlates most strongly with the uranium
anomalies, and is important evidence for the presence of hydrothermal fluids.
The pronounced orientation of the A1 target soil anomaly and the presence of
anomalous uranium and alteration in the basement rocks are strongly reminiscent
of the nearby Key Lake and P-Patch uranium deposits.


The common shares are issuable upon execution and TSX.V approval and will be
subject to a hold period of four months and one day from the date of issue.


Zadar Ventures Ltd. is a junior uranium exploration company focused on acquiring
and exploring for economically viable mineral resources. For more information we
invite you to visit the company's website at www.zadarventures.com .


Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument
43-101, has reviewed and verified the technical information provided in this
release.


ON BEHALF OF THE BOARD OF ZADAR VENTURES LTD.

Paul D. Gray, P.Geo., President & Chief Executive Officer

FOR FURTHER INFORMATION PLEASE CONTACT: 
Zadar Ventures Ltd.
609 - 475 Howe Street
Vancouver, B.C.  V6C 2B3
604-682-1643
www.zadarventures.com
Zadar Ventures (TSXV:ZAD)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Zadar Ventures Charts.
Zadar Ventures (TSXV:ZAD)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Zadar Ventures Charts.