NUNAVUT - KAMINAK GOLD of Vancouver has signed an memorandum of understanding with NUNAVUT TUNNAVIK INC. allowing Kaminak to explore for uranium on 7,285 ha of land privately owned by the Inuit in the Kivalliq District. This is the first such agreement to include uranium.
The property of interest hosts numerous exploration targets, including the historic high-grade, near-surface Lac Cinquante uranium deposit. The deposit was discovered in the late 1970s, and in 1982 it was estimated to contain 11.5 million lb of uranium oxide with grades averaging 1.03% U3O8.
Kaminak Gold (www.Kaminak.com) describes itself as a "prospect generator" willing to joint venture its finds.