URACAN RESOURCES LTD. : http://www.uracan.ca/ : QwikReport

News Releases

#September 05, 2018
URACAN OPTIONS HUZYK CREEK VANADIUM PROPERTY IN MANITOBA

 Vancouver, Canada (September 5, 2018) - Uracan Resources Ltd. (TSX.V:URC) ("Uracan" or "the Company") is pleased to announce that the Company has entered into a definitive agreement (the "Agreement") whereby the Company has the right to earn up to a 100% interest in the Huzyk Creek Vanadium Property (the "Property"), in north-central Manitoba.

The Property

The Huzyk Creek Vanadium Property is located approximately 75 kilometres southeast of the town of Snow Lake, Manitoba and consists of a Mineral Exploration License ("MEL") covering approximately 216 square kilometres. This area has seen significant exploration for base metal mineralization as it lies within the projected extension of both the Flin Flon/Snow Lake belt as well as the Thompson Nickel Belt. Historically the region has seen no exploration for Vanadium.

A historic drill core resampling program by the property vendors (the "Vendors") has discovered a broad zone of vanadium mineralization. Resampling of a 1997 drill hole (NIM-19) returned a total of 68 meters @ 0.14% V2O5 hosted within a sequence of meta-sediments associated with sulphides. Individual V2O5 values up to 0.6% over 0.6 meters were noted within this mineralized interval. Significantly, mineralization is open down hole, with the drill hole ending in a sequence of meta-sediments with elevated V2O5 values. No other known historic drill holes have been completed on this mineralized zone. At this time the strike, dip and lateral extent of mineralization is not known.

The mineralized interval is associated with a 1.5 kilometer long ground electromagnetic induction (EM) geophysical anomaly. This ground EM anomaly is associated with a longer, multi-kilometre airborne geophysical anomaly. This geophysical work was completed by previous exploration companies in the region, and the geophysical data was submitted for assessment work at the Manitoba Mining Recorders office.

A review of assessment file data by Uracan geologists has outlined additional widespread vanadium anomalies in historic drilling throughout the property. Individual values up to 0.20% V2O5 have been reported as part of limited geochemical sampling in drill core. Widespread meta-sedimentary intervals with elevated sulphide content are also commonly noted in historic drill logs. Uracan is planning to locate any extant historic drill core for further sampling and review.

Vanadium has historically been used in the steel industry, however demand for specialty battery metals has become an increasingly important driver for vanadium. Efficient battery and grid energy storage plays a key role in moving to more renewable energy sources, which will drive the demand for vanadium. The majority of the supply for vanadium comes from Africa, China, Brazil and Australia, with no current North American production.

The Agreement

Uracan can earn an initial 49% interest in the property by making staged payments over 3 years to the property vendors totalling $215,000 ($25,000 upon signing), issuing $180,000 of Uracan shares and completing $2,500,000 of exploration on the property. The payments are as follows:
  • $25,000 in cash and 1,000,000 common shares upon approval by the TSX Venture Exchange
  • $50,000 in cash, $50,000 in shares, and $250,000 in exploration expenditures by the first anniversary date of the agreement
  • $60,000 in cash, $50,000 in shares and $750,000 in exploration expenditures by the second anniversary date of the agreement
  • $80,000 in cash, $50,000 in shares and $1,500,000 in exploration expenditures by the third anniversary date of the agreement
The Company can earn an additional 21% interest with a cash payment of $125,000 and the issuance of $50,000 of Uracan common shares to the vendors, along with completing $2,225,000 of exploration on the property which will include a preliminary economic assessment (PEA) study.

Uracan can earn the remaining 30% interest in the property for a total 100% interest in the Huzyk Creek Project by completing a Pre-Feasibility study within 24 months of the 4th anniversary of the agreement, along with a payment of $500,000 to the property vendors.

The vendors will retain a 2% Net Smelter Return royalty (NSR) on the Huzyk Creek Property. Uracan shall have the option to repurchase 1% of this NSR any time for $1,000,000 in cash or shares. Uracan will also have a right of first refusal on the remaining 1% NSR if the vendors elect to sell this interest.

Marc Simpson, P.Geo., Uracan's President and CEO is the Qualified Person that has reviewed and approved the contents of this news release on behalf of Uracan.

Further Staking

In addition to the exploration property optioned from the Vendors, Uracan has added additional prospective ground adjacent to the MEL discussed above. An additional 231 square kilometres has been staked for an overall total property position of approximately 447 square kilometres.

Historic exploration drilling for base metal mineralization encountered significant intervals of meta-sediments along with historic selective drill hole geochemical results with elevated vanadium values up to 0.20%. These results show that good potential exists for vanadium mineralization within the area covered by the overall property.

Name Change and Share Consolidation

In conjunction with the Agreement, the Board of Directors of the Company has approved a name change to "Vanadian Energy Corporation" and a consolidation of its issued and outstanding share capital on the basis of one new common share for four outstanding common shares, subject to TSX Venture Exchange approval. As a result, the outstanding common shares of the Company will be reduced to approximately 26,486,150, subject to adjustment for fractional shares. The Consolidation will also apply to Common Shares issuable upon the exercise of the Company's outstanding stock options.

This name change better reflects the Company's focus on the broader energy sector, both in the battery metal space as well as the Company's existing uranium exploration assets.

Marc Simpson, President & CEO of Uracan stated, "We view the energy metal sector as one of the most compelling opportunities in the mining industry today. Uracan has acquired an excellent early stage vanadium asset in a mining friendly jurisdiction. Vanadium is in demand both by the steel industry and the nascent vanadium redox battery storage industry. The vanadium market has tremendous growth potential in the future to supply these markets. Uracan will continue to evaluate other opportunities to add to its portfolio."

ABOUT URACAN RESOURCES LTD.

Uracan Resources Ltd. (TSX.V:URC) is a Canadian-based exploration company focused on exploring for vanadium deposits in Manitoba, as well as uranium deposits in Saskatchewan, Canada. In August 2018, Uracan signed an agreement whereby Uracan can acquire up to a 100% interest in the Huzyk Creek Vanadium Property. Uracan also holds interests in a number of uranium exploration properties in Saskatchewan. Uracan continues to review additional opportunities worldwide to capitalize on management's exploration and financing capabilities.

ON BEHALF OF URACAN RESOURCES LTD.

"Marc Simpson"


Marc Simpson
President and CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

Marc Simpson
President and CEO
Uracan Resources Ltd.

604-506-6996
www.uracan.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of the Company. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com ). Forwardlooking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
File: http://www.uracan.ca/i/pdf/News/NR-2018-09-05.pdf
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#February 16, 2017
URACAN AND FORUM INTERSECT HIGH GRADE ZINC MINERALIZATION

 Vancouver, Canada (February 16, 2017) - Uracan Resources Ltd. (TSX.V:URC) ("Uracan" or "the Company") is pleased to provide a corporate update on the Company and the drill program completed in November 2016 on Forum's 100% owned Clearwater Project, on trend from Fission Uranium's Triple R deposit and Nexgen Energy's Arrow Deposit in the Athabasca Basin, Saskatchewan.

High Grade Zinc intercept at Clearwater

In the course of the 2016 exploration drill program on the Clearwater Project, Uracan and Forum Uranium Corp. ("Forum") have intersected a potentially significant zone of zinc mineralization in diamond drill hole CW-16. CW-16 intersected an interval between 259.5 meters and 266.0 meters downhole assaying 3000ppm (0.3%) Lead and 43400ppm (4.34%) Zinc over a 6.5 meter core length that was chip sampled. This high grade interval occurs within a zone of anomalous Zinc mineralization, with assays ranging between 114ppm to 43400ppm Zinc and 14ppm to 3000ppm Lead between 241.8 meters and 272.0 meters downhole. The host rock is a well banded granodiorite/granitic gneiss with variable silicification and sulphide content. These samples have not been composited as they are chip samples and not continuous samples. True widths of this interval are not known at this time. Further work is required to better define the nature of this base metal mineralization.

Chip samples consist of systematically collecting similar sized small fragments of the core at a regular spacing across zones of similar lithology and alteration. These individual chips from discrete lithological intervals are combined into a single sample that is submitted to the lab (SRC Geoanalytical Laboratories or SRC) for geochemical analysis. A systematic chip sampling program of all drill core was conducted as a regular part of the sampling program on the project and is a common sampling method in uranium exploration. The initial geochemical result was of enough interest that the lab was requested to reanalyze the sample, which returned 2750ppm (0.275%) Lead and 45400 (4.54%) Zinc in the reanalysis.

The reader is cautioned that these results are derived from selective composite chip samples that may not be representative of the interval. The chips are typically taken at 1 metre intervals along the length of the core.

CW-16 was drilled on the northern portion of the Clearwater claim group just south of Mongo Lake. Please see http://www.uracan.ca/s/Sask.asp?ReportID=674709 for further details.

Elevated base metals are frequently associated with the Athabasca unconformity uranium mineralization. Base metals, along with clay alteration and hematite alteration noted in drilling (see Uracan's November 16th, 2016 news release for further information) show that a metal bearing, hydrothermal system was active in this portion of the Patterson Lake trend. These results indicate that additional follow up work is needed to determine both the potential for uranium mineralization and the nature and potential for base metal mineralization on the Clearwater Project.

Assay Methods

The chip sampled intervals were submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon, Saskatchewan for geochemical analysis. The samples were analyzed using ICP-MS for trace elements for both partial and total digestions, ICP-OES for major and minor elements on a total digestion, and fusion solution of boron by ICP-OES.

SRC has a rigorous QA/QC program as part of their assay program with regular insertion of standard reference material, blank material and duplicate samples in the sample stream.

Marc Simpson, P.Geo., Uracan's President and CEO is the Qualified Person that has reviewed and approved the contents of this news release on behalf of Uracan.

25% Interest Earned in Clearwater Project

Uracan is pleased to announce that it has earned its initial 25% interest in the property, with Forum holding the remaining 75% interest in the property. This interest was earned with the $1.5 million of cumulative expenditures on the property by Uracan as per the earn-in agreement with Forum. Uracan can earn a 51% interest by spending an additional $1.5 million in exploration by August 2017 and up to a 70% interest by funding cumulative expenditures of $6 million by August 2019. Forum will be the Project operator until Uracan earns its 51% interest, after which Uracan may elect to become the operator.

New Chief Financial Officer

Uracan announces the appointment of Jessica Van Den Akker to the position of Chief Financial Officer of the Company. Ms. Van Den Akker is a Chartered Professional Accountant (CA) with over 11 years' experience in the resource sector. She gained extensive experience through a Canadian audit firm providing reporting and accounting assurance services to publicly traded companies, primarily in natural resources. Ms. Van Den Akker is a graduate of Simon Fraser University where she received a Bachelor of Business Administration. The Company wishes to thank Harpreet Dhaliwal for her contributions to the Company, and wishes her well in her future endeavours. Uracan has granted an aggregate of 400,000 incentive stock options to officers of the Company exercisable for a period of 10 years, subject to TSX-V approval. These options will be priced at the closing market price on February 17, 2017.

Uracan Drops Black Lake Option

Due to continued challenges in the junior exploration markets, Uracan has elected to drop its option with UEX Corporation on the Black Lake Project in January 2017.
ABOUT URACAN RESOURCES LTD.
Uracan Resources Ltd. (TSX.V:URC) is a Canadian-based exploration company focused on exploring for uranium deposits in Saskatchewan and Quebec, Canada. In July 2014, Uracan signed an agreement with Forum Uranium whereby Uracan can acquire up to a 70% interest in the Clearwater Property near the southwestern margin of the Athabasca Basin, immediately adjacent to Fission Uranium's Patterson Lake South deposit and on trend with Nexgen Energy's Arrow deposit. Currently Uracan holds a 25% in the Clearwater Property with Forum Uranium holding a 75% interest in the property.
Uracan continues to review additional opportunities worldwide to capitalize on management's exploration and financing capabilities.

ON BEHALF OF URACAN RESOURCES LTD.

"Marc Simpson"

Marc Simpson
President and CEO


FOR FURTHER INFORMATION PLEASE CONTACT:

Marc Simpson
President and CEO
Uracan Resources Ltd.

604-506-6996
www.uracan.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of the Company. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com ). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
File: http://www.uracan.ca/i/pdf/News/NR - 2017-02-16 - Corporate Update.pdf
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#November 17, 2016
Uracan closes private placement

 Vancouver, Canada (November 17, 2016) - Uracan Resources Ltd. (TSX.V:URC) ("Uracan") is pleased to announce it has closed a non-brokered private placement of 1,538,461 flow-through shares (the "Offering") at a price of $0.065 per share for gross proceeds of $100,000. The flow-through shares are subject to a hold period expiring March 18, 2017. Finder's fees of $6,000 were paid to Secutor Capital Management Corp. in connection with the Offering. Proceeds will be used towards exploration work in Quebec.
ABOUT URACAN RESOURCES LTD.
Uracan Resources Ltd. (TSX.V:URC) is a Canadian-based exploration company focused on exploring for uranium deposits in Saskatchewan and Quebec, Canada.
In July 2014, Uracan signed an agreement with Forum Uranium whereby Uracan can acquire up to a 70% interest in the Clearwater Property near the southwestern margin of the Athabasca Basin, immediately adjacent to Fission Uranium's Patterson Lake South discovery. Forum is the 100% owner of the Clearwater Property.

In early 2013, Uracan signed an agreement with UEX Corporation, whereby Uracan acquired the option to earn from UEX a 60% participating interest in the Black Lake Property along the northern margin of the Athabasca Basin. UEX currently holds a 90.92% interest in the Black Lake Project with AREVA Resources Canada Inc. ("AREVA") holding the remaining 9.08% interest.
Uracan continues to review additional opportunities worldwide to capitalize on management's exploration and financing capabilities.

ON BEHALF OF URACAN RESOURCES LTD.

"Marc Simpson"

Marc Simpson
President and CEO


FOR FURTHER INFORMATION PLEASE CONTACT:

Marc Simpson
President and CEO
Uracan Resources Ltd.

604-506-6996
www.uracan.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of the Company. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com ). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
File: http://www.uracan.ca/i/pdf/News/11-17-2016 - URC Closes Private Placement.pdf
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#November 07, 2016
URACAN AND FORUM PROVIDE UPDATE ON DRILLING AT CLEARWATER PROPERTY ON SOUTHWEST EXTENSION OF PATTERSON LAKE TREND

 Vancouver, Canada (November 7, 2016) - Uracan Resources Ltd. (TSX.V:URC) ("Uracan") and Forum Uranium Corp. (TSX.V:FDC) ("Forum") are pleased to announce an update on the ongoing drill program on Forum's 100% owned Clearwater Project, on trend from Fission Uranium's Triple R deposit and Nexgen Energy's Arrow Deposit in the Athabasca Basin, Saskatchewan. Uracan will earn its initial 25% interest in the property upon the completion of the current drill program. In addition, the previously announced exploration drilling program (as described in Uracan's September 29th, 2016 news release) will be extended. Please see below for further details.

Mongo Lake Area

The Mongo area is interpreted to be on strike with the structure hosting the Triple R deposit. Drilling to date on the Mongo Lake area (drill holes CW-17 and CW-18) of the property (please refer to maps on the Uracan website www.uracan.ca for more details on the Mongo Lake area) have encountered predominantly mafic gneisses, locally weakly graphitic, that have been cut numerous times by felsic granitic dykes and moderately radioactive (thorium bearing) mafic dykes with probing peaks of up to 2345 counts per second. These mafic dykes have been reactivated by subparallel brittle shear zones. The upper section of the drill holes also contains intervals of secondary hematite alteration, both along fracture surfaces and locally within the matrix and lithological boundaries.

Several intervals of moderate bleaching of the drill core have also been noted. Clays in the bleached zone have been analyzed by Forum's TerraSpec (TSP 350-2500) instrument, and have come back as mostly illite, a clay associated with hydrothermal alteration and common around all of the eastern Athabasca basin uranium deposits and at NexGen Energy's Arrow deposit. Samples of the bleached and clay altered core will be geochemically analysed in the near term to confirm the nature and type of other clay minerals present.

The combination of elevated radioactivity, bleaching with illite clay and secondary hematite associated with brittle shear zones and local graphitic zones are encouraging as these indicate that altering and radioactive fluids were active in the area. Further drilling is planned to follow up these initial encouraging results, both along strike on the southern conductor and on a parallel conductor 400m to the north. A further target (the Lili area) on a strong, steeply dipping VTEM conductor that has a strike length of several kilometres, parallel to the Clearwater intrusive complex may also be tested.

Radioactivity within the mafic dykes in CW-17 has a probing peak of 1081 cps over 0.1 meters between 197.6 and 197.7 meters downhole, within an overall radioactive interval of 779 cps over 0.8 meters between 197.4 and 198.2 meters. CW-18 contains mafic dykes with a probing peak of 2345 cps over 0.2 meters between 136.5 and 136.7 meters within an overall radioactive interval of 1206 cps over 0.6 meters between 136.3 and 136.9 meters. Preliminary spectrometer results indicate that the radioactivity in the mafic dykes is predominantly related to thorium with lesser uranium present.

All drill holes are probed for radiometrics along their entire drilled length using a Mt Sopris HLP-2375 total count natural gamma scintillometer probe. The radioactive zones have been measured using a hand-held Radiation Solutions Inc RS-135 spectrometer to determine the ratios of Thorium and Uranium in a preliminary fashion. Samples of these drill core intervals will be submitted for analysis by SRC Laboratories.

The reader is cautioned that probe and scintillometer readings are not necessarily uniformly or directly related to the presence of, or uranium grades of, the rock sample measured. These readings should only be used only as a preliminary indication of the presence of radioactive materials.

Key Area

Four diamond drill holes have also been completed in the Key area of the project testing gravity lows or EM conductors. While the alteration of the basement rocks was very strong with up to 30m of dissolved and missing core, most of this is interpreted to be caused by surficial weathering, evidence for this given by associated kaolinite clays. The drill holes that targeted EM conductors intersected graphitic structures with evidence of numerous tectonic episodes; unfortunately no significant uranium mineralization was noted in this area.

Uracan will earn a 25% interest in the Clearwater property at the end of the current drill program by spending $1.5 million (approximately $900,000 spent to date), a 51% interest in the Clearwater property by spending $3 million in exploration over three years and up to a 70% interest by spending $6 million over five years. The Clearwater Project covers a total of 9,912 hectares adjoining Fission Uranium's Patterson Lake South claims to the southwest. Forum will be the Project operator until Uracan earns its 51% interest, after which Uracan may elect to become the operator.

Marc Simpson, P.Geo., Uracan's President and CEO is the Qualified Person that has reviewed and approved the contents of this news release on behalf of Uracan.
ABOUT URACAN RESOURCES LTD.
Uracan Resources Ltd. (TSX.V:URC) is a Canadian-based exploration company focused on exploring for uranium deposits in Saskatchewan and Quebec, Canada.
In July 2014, Uracan signed an agreement with Forum Uranium whereby Uracan can acquire up to a 70% interest in the Clearwater Property near the southwestern margin of the Athabasca Basin, immediately adjacent to Fission Uranium's Patterson Lake South discovery. Forum is the 100% owner of the Clearwater Property.

In early 2013, Uracan signed an agreement with UEX Corporation, whereby Uracan acquired the option to earn from UEX a 60% participating interest in the Black Lake Property along the northern margin of the Athabasca Basin. UEX currently holds a 90.92% interest in the Black Lake Project with AREVA Resources Canada Inc. ("AREVA") holding the remaining 9.08% interest.
Uracan continues to review additional opportunities worldwide to capitalize on management's exploration and financing capabilities.

ON BEHALF OF URACAN RESOURCES LTD.

"Marc Simpson"

Marc Simpson
President and CEO


FOR FURTHER INFORMATION PLEASE CONTACT:

Marc Simpson
President and CEO
Uracan Resources Ltd.

604-506-6996
www.uracan.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking information relating to the future performance of the Company. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the actual results of exploration activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes, change in government and changes to regulations affecting the mining industry, and other risks and uncertainties detailed from time to time in the Company's filings with the Canadian securities administrators (available at www.SEDAR.com ). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
File: http://www.uracan.ca/i/pdf/News/URC NR - 11-07-2016 - Clearwater Preliminary Drilling Results.pdf
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#September 29, 2016
URACAN AND FORUM COMMENCE DRILLING ON CLEARWATER PROPERTY IN PATTERSON LAKE SOUTH AREA

 Vancouver, Canada (September 29, 2016) - Uracan Resources Ltd. (TSX.V:URC) ("Uracan") and Forum Uranium Corp. (TSX.V:FDC) ("Forum") announce the commencement of a 3,000 metre drill program on Forum's 100% owned Clearwater Project, on trend from Fission Uranium's Triple R deposit and Nexgen Energy's Arrow Deposit in the Athabasca Basin, Saskatchewan. The Patterson Lake Corridor continues to yield significant uranium mineralization 840 metres to the southwest of the original discovery in the direction of the Clearwater Project.

A total of eleven drill holes totalling 2,836 metres have been completed to date on the property. This previous drilling defined a number of target areas with altered and reactivated graphite bearing structures with elevated boron and nickel geochemistry and anomalous uranium values. Forum and Uracan plan to drill ten to twelve drill holes to follow-up these structures along the Mongo and Key trends and to test new targets that have not yet been drill tested.

In addition, a 12 line kilometre ground electromagnetic survey is currently underway on the Clearwater Project to better target the planned drilling. A map showing the planned drilling areas will be available shortly on Uracan's website: www.uracan.ca

Uracan can earn a 25% interest in the Clearwater property by spending $1.5 million (approximately $500,000 spent to date), a 51% interest in the Clearwater property by spending $3 million in exploration over three years and up to a 70% interest by spending $6 million over five years. The Clearwater Project covers a total of 9,912 hectares adjoining Fission Uranium's Patterson Lake South claims to the southwest. Forum will be the Project operator until Uracan earns its 51% interest, after which Uracan may elect to become the operator.

Marc Simpson, P.Geo., Uracan's President and CEO is the Qualified Person that has reviewed and approved the contents of this news release on behalf of Uracan.

The company also announces that it has granted an aggregate of 6,100,000 incentive stock options to directors, officers, consultants and charitable organizations at a price of $0.09 per share, exercisable for a period of 10 years, subject to TSX-V approval.

ABOUT URACAN RESOURCES LTD.
Uracan Resources Ltd. (TSX.V:URC) is a Canadian-based exploration company focused on exploring for uranium deposits in Saskatchewan and Quebec, Canada.
In July 2014, Uracan signed an agreement with Forum Uranium whereby Uracan can acquire up to a 70% interest in the Clearwater Property near the southwestern margin of the Athabasca Basin, immediately adjacent to Fission Uranium's Patterson Lake South discovery. Forum is the 100% owner of the Clearwater Property.

In early 2013, Uracan signed an agreement with UEX Corporation, whereby Uracan acquired the option to earn from UEX a 60% participating interest in the Black Lake Property along the northern margin of the Athabasca Basin. UEX currently holds a 90.92% interest in the Black Lake Project with AREVA Resources Canada Inc. ("AREVA") holding the remaining 9.08% interest.
Uracan continues to review additional opportunities worldwide to capitalize on management's exploration and financing capabilities.
File: http://www.uracan.ca/i/pdf/News/URC News Release Clearwater Drilling Commences September 29, 2016 (FINAL).pdf
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