(December 8, 2008 – Cambridge Bay, Nunavut) Nunavut Tunngavik Inc. 1st Vice President James Eetoolook today announced that NTI signed a memorandum of understanding with Forum Uranium Corp granting rights to explore the northern portion of Inuit Owned Lands parcel BL-21.
The NTI Board of Directors passed the Uranium Policy in September 2007, and we are working hard to implement that policy. I am pleased that we have signed this MOU with Forum Uranium Corp. said Eetoolook, Forum Uranium is a good partner, well situated in the Thelon Basin, with a strong team and an excellent record of managing exploration programs.
The parcel is 60 kilometers west of Baker Lake and 20 kilometers east of the Kiggavik property on which AREVA Resources Canada Inc. has identified a resource of approximately 148 million pounds of uranium. The parcel was selected by Inuit during the Nunavut Land Claims Agreement negotiations specifically because of its outstanding potential to host high grade and sizable uranium deposits.
For further information:
Assistant Director of Communications
Nunavut Tunngavik Incorporated
Tel: (867) 975-4939 Toll-free: 1-888-646-0006