ZADAR VENTURES LTD.
609 – 475 Howe Street
Vancouver, B.C. V6C 2B3
Phone: 604-682-1643
News Release
TSX.V accepts Option agreement re Upper Poulton Lake Uranium Project adjoining Fission/Denison
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April 22, 2013 – Vancouver, British Columbia. Zadar Ventures Ltd. (the “Company”) is pleased to announce that the TSX Venture Exchange has accepted for filing an Option Agreement between the company and an arm’s length vendor, whereby the company can earn a 100% interest in the Upper Poulton Lake Property, which covers 2,730 hectares in the Athabasca Basin, Saskatchewan, ~21km SE of the Cigar Mine.
Geology at Upper Poulton Lake is dominated by the northeast trending Bird Lake Reverse Fault. The high-value targets were identified by Cameco in 2004 comprise a series of shallow, northeast trending subsurface conductors, coincident with the Bird Lake Fault, which shows strong similarities to the Rabbit Lake Fault, primary control of the Rabbit Lake Mine. The Company is excited about the targets as the majority of unconformity-type uranium discoveries in the Athabasca basin, such as Fission’s Patterson Lake South and Hathor’s Roughrider Deposit, have been made through the investigation of subsurface conductive graphitic layers residing within magnetic breaks. In addition, first pass drilling by Cameco at Upper Poulton Lake revealed clear evidence of hydrothermal alteration.
Under the terms of the acquisition Zadar will pay $100,000 cash and issue 100,000 common shares year one and issue an additional 800,000 shares in stages over the next three years. In addition, a onetime $1,000,000 payment is payable on the fourth anniversary. The Company will also commit to spend $2.1 million on exploration over 4 yrs. A 1% NSR has also been reserved unto the vendor, of which 1/2 % can be purchased by Zadar paying to the Owner $1,000,000. A finder’s fee of $10,000 and 10,000 shares will be paid to Sabrina Sim.
Zadar Ventures Ltd. is a junior Uranium exploration company focused on acquiring and exploring for economically viable mineral resources in the prolific Uranium producing Athabasca Basin. For more information we invite you to visit the company’s website at www.zadarventures.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Tommasi
President & Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company’s disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.