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Message: A MESSAGE FROM THE CEO
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| 30 - July - 2013 | UAX: TSX.V ATURF: US |
| A MESSAGE FROM THE CEO |
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Hello All: Athabasca Uranium is greatly encouraged by Denison Mines’ news release (dated July 23 2013) regarding their Phoenix A deposit announcing "Denison Intersects 43.2% U3O8 Over 10.3 Metres at Wheeler River". Not just because the grades are spectacular, or for its proximity to our current exploration projects at Keefe and McGregor Lakes, but because every new discovery in the Basin reinforces the Canadian Nuclear Association’s estimate of the vast amount of uranium yet to be discovered: “The enormous bounty of uranium buried in the Athabasca Basin is almost beyond reckoning and can provide substantial wealth to the province of Saskatchewan and Canada for decades to come. It is estimated that the energy contained in these deposits is equivalent to 17 billion barrels of oil or …… about $2.2 trillion.” 1 This discovery brings to mind that lately we’ve been asked numerous times “How close are you to Patterson Lake South?” - and confirms that my response of “Well, not very” is not only truthful, its actually deliberate - and nothing to be ashamed of. Because while there’s recently been considerable well-deserved discovery excitement on the west side of the Athabasca Basin (with Fission’s PLS property), historically most of the prolific discoveries and richest mines in the world 2 are located on the east margin of the Basin, in the region where our properties are located.
 Plus our earlier Keefe Lake drill results and the science provided by the proven USASK Geosciences team shows distinct geological, geochemical and structural features analogous to Phoenix A and McArthur River (the richest mine in the world).
So while there are fully 28 newly-minted uranium companies all jockeying for position near the PLS, we have never lost sight of the fact that we’re already IN elephant country. Denison’s stellar Phoenix A drill hole at Wheeler River further confirms that the eastern part of the Basin is still fertile for uranium - which adds to our confidence in, and has upgraded the prospectivity of our Keefe Lake drill program slated for later this year.
The PLS may be getting a lot of the buzz right now, but we are deliberately on the east side of the Basin, hunting elephants - and as we said in our news release earlier this month, “very well-positioned to take advantage of the recent global resurgence of uranium”.
Kind regards & enjoy your summer!  Gil Schneider President & CEO http://curriculum.cna.ca/curriculum/cna_can_nuc_hist/uranium_sask-eng.asp?bc=Uranium%2520Mining%2520in%2520Northern%2520Saskatchewan
2 “Wheeler Valuation. We value Denison’s share of Wheeler by ascribing US$6/lb to our notional attributable resource target of 54 Mlbs (for C$330 mln). We feel this is justified in light of (i) excellent grades – the 59.9 Mlbs global resource’s 16.6% grade ranks it alongside Cigar Lake and McArthur River as the richest globally;
(ii) scarcity – one of only four deposits to ever host 43-101 resource grades over 10% U3O8.........”
- Dave Sadowski, Raymond James Analyst, 25/07/2013 Link to the Full Research Document
Athabasca Uranium Inc. email : info@athabascauranium.com
# 1200 - 570 Granville St. Vancouver, B.C.,
Canada, V6C 3P1
Toll-Free: (866) 869-8072
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