Uranio AG starts exploration activities in Bakouma
Basel, 2nd October 2009 News Release 4-2009
Uranio AG is pleased to announce commencement of exploration activities on its 100% owned Bakouma concessions in the Central African Republic. The company has four licence areas that are to the north and east of licences operated by Areva of France at Bakouma in addition to its 27 licenses in Argentina.
African Skies Limited has been hired by Uranio in order to establish a permanent camp in the area including an air strip to provide support for the exploration activities. Logistic and implementation activities have commenced in the region and two senior geologists and their support team will be based at site.
Uranio, through their consultants, SRK Consulting, intends to focus on identifying and delineating the fault-bearing uranium mineralization in the North Bakouma licences associated with the regional anticlinal fold. The area is also known to contain other mineral deposits associated with the geological structures. Initial activity will focus on the two northern licences.
he potential for uranium mineralization was first identified by Cogema in 1961. The uranium rich phosphatic deposits were reported to have some of the highest grades in Sub Saharan Africa. Further work was undertaken by Alusuisse in the 1970's and by a Japanese consortium in the 1980's.
The board of Uranio has finalised an agreement with its major shareholder, Lana International Limited, for a loan which will provide the company with the initial funding required to implement the programme agreed with SRK. This programme will include aerial and radiometric surveys, follow up regional soil and stream sediment sampling and geological mapping. Further financial offers have been made to the Board of Uranio which will be more than adequate to fund the completion of the programme proposed by SRK in order to finalise the resource statement for the four licences in CAR.
In 2007 Areva acquired Uramin in a takeover valued at US$2.5bn. Areva-Uramin have reported that the licence areas they occupy consist of 10 separate mineralised areas. It is reported that UraMin drilled some 9,400 m and quoted resources of 38,000 tonnes uranium (tU) with 16,000 tU as a historic resource estimated and reported by the previous owner.
ineralization in the North Bakouma licences has been historically referred to as uranium bearing phosphate deposits associated with faulted limbs of a regionally important anticlinal structure that cuts through both of the North Bakouma licences. The importance of the fault structures, in acting as a foci for high grade uranium mineralization, 
has been demonstrated in published geological reports on the area.
On behalf of the board,
Luca Tenuta (CEO)
Uranio AG
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