Uracan Resources has completed three NI 43-101 Compliant Resources at its 100%-owned North Shore Project in Quebec. The combined overall resource at the Double S, TJ and Middle Zones contains a total Indicated Resource Estimate of 21.5 million tonnes at an average grade of 0.014% U3O8 containing 3.11 million kilograms (6.86 million pounds) of U3O8 using a 0.010% cutoff, and a total Inferred Resource Estimate of 140.65 million tonnes at a weighted average grade of 0.012% U3O8 containing 16.826 million kilograms (37.095 million pounds) of uranium using a 0.01% cutoff. The 100% owned North Shore project has a provincial highway and power lines running through it, and several areas of the project have tidewater access to the St. Lawrence Seaway in eastern Quebec, Canada. The Havre St. Pierre deepwater port is located 60km west of the Project.
In March 2010, Uracan commenced a multi-hole, helicopter
supported diamond drilling program on the A4 Zone of Costebelle C
claim group. A total of 3,023 meters in 20 diamond drill holes was completed
during March and April of 2010. Winter 2010 drilling highlights on the A4-1 zone
include: 25.95 metres of 480 ppm, 33.9 metres of 230 ppm, 41 metres of 197 ppm,
and 15.85 metres of 331 ppm U3O8 over a strike length of 500 metres. Drill Highlights from 2011 include: 10.5 meters of 0.048% U3O8 (483 ppm or 0.96 lbs/t) and 43.5 meters of 0.019% U3O8 (193 ppm or 0.38 lbs/t) in CA4-11-42, 17.6 meters of 0.025% U3O8 (252 ppm or 0.5 lbs/t) in CA4-11-38, 15 meters of 0.034% U3O8 (337 ppm or 0.68 lbs/t) in CA4-11-46 and 12.5 meters of 0.032% U3O8 (322 ppm or 0.64 lbs/t) in CC11-11-05. The grades of uranium mineralization seen at the Costebelle A4 zone continue to show approximately twice the average grades seen at the Double S zone elsewhere on the North Shore Property. In 2011, the 18 hole, 3,156 meter drill program was designed to follow up exploration targets outlined during the 2010 drill programs at the A4 and CC11 zones.