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Exploration & Development

2011 Drilling Program

Costebelle Claim Group
A total of 2,576 meters in 14 drill holes was completed during winter 2011 at the Costebelle A4 Zone. Drilling highlights included 10.5 meters of 483 ppm (0.048% or 0.96 lbs/t) U3O8 and 43.5 meters of 193ppm (0.019% or 0.38 lbs/t) U3O8 in CA4-11-42, 17.6 meters of 252 ppm (0.025% or 0.5 lbs/t) U3O8 in CA4-11-38, and 15 meters of 337 ppm (0.034% or 0.68 lbs/t) U3O8 in CA4-11-46.

A total of 580 meters in 4 drill holes was completed during winter 2011 at the C-C-11 Zone. Highlights include 12.5 metres of 0.032% (322 ppm or 0.64 lbs/t) U308 in CC11-10-05. These results lie within an area of mineralization within an overall radiometric anomaly of approximately 1200 metres (1.2 km), and is open along strike. C-C-11 is located approximately 3 kilometres east of the A4 Zone.

The Province of Quebec is currently evaluating regulations regarding uranium exploration and mining in the province; it is uncertain at this time what final policies will be enacted. Uracan has put the North Shore Project on standby until such time as the updated policies and regulations are put in place.

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