SASKATCHEWAN - Vancouver-based UEX CORP. has set aside a $25-million budget for exploration and development in 2007. That amount is up nearly 30% from this year's $19.5-million budget.
Almost half the budget, $12 million, will be spent at the Hidden Bay project including development costs at the West Bear and Raven-Horseshoe deposits. Results of drilling programs will be used to update NI 43-101 reports for the deposits.
UEX has approved spending on the West Athabasca projects of $6.73 million. Programs are planned for the Anne, Colettet and Kianna deposits at the Shea Creek project. UEX owns a 24.5% interest and can earn up to a 49% interest in 10 properties from AREVA RESOURCES CANADA, the current owner.
Other programs include the West Bear deposit ($1.3 million), the Riou Lake project ($1.7 million), the Northern Athabasca projects ($1.3 million) and the Beatty River joint venture.
To view maps and other information regarding UEX's exploration projects,
go to www.UEX-Corporation.com and click on Projects.