The Keefe Lake Project covering an area of 12,832-hectare and comprises of three contiguous claims on the eastern margin of the uranium-rich Athabasca Basin.
The company will earn a 100% interest in the property by paying an initial $65,000 and issuing 3.5m common shares to the vendor, subject to regulatory approval.
It can also file $5m in qualified exploration assessment credits on the property within five years and by making an additional cash payment of $1.5m.
A 2% net smelter return royalty has also been granted to the vendor, of which 1% may be purchased by the company for $.5m.
The company has already completed preliminary work on the site and is nearly two full ahead on the exploration work.
