CMKM Diamonds Inc (fka CMKX)

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Seagrove Capital Corp

Solitaire acquires Highrock Lake uranium prospect

2004-10-12 18:45 ET - News Release


Mr. Charles Desjardins reports

SOLITAIRE SIGNS PURCHASE AGREEMENT ON HIGHROCK LAKE PROPERTY IN ATHABASCA BASIN

Solitaire Minerals Corp. has signed a purchase agreement with Seagrove Capital Corp. to acquire a 100-per-cent interest in 3,117 hectares (approximately 7,700 acres) of prospective uranium claims located southwest of Key Lake in Northern Saskatchewan.

Terms of the agreement call for the company to pay the vendor a total of $10,000 and 250,000 common shares.

The Highrock Lake property consists of approximately 3,117 hectares (approximately 7,700 acres) located in Northern Saskatchewan southwest of the past-producing Key Lake mine. The area to the west has been recently staked by International Uranium Co. Please view map at www.solitaireminerals.com/gold/IR/downloads.asp.

The Athabasca basin hosts several major uranium deposits including Cigar Lake and McArthur River, two of the highest-grade uranium deposits in the world. It is the most productive uranium-producing region in the world. Hosting the largest and richest uranium mines and producing over 33 per cent of the world's supply.

Solitaire will be evaluating other potential prospects within and outside the Athabasca basin in the following months.

In addition, Solitaire has appointed Jim Kermeen, MSc, PEng, a consulting geological engineer to the advisory board. Mr. Kermeen brings over 40 years experience in the mineral industry including 17 years of exploration and underground mine geology relating to uranium deposits in Northern Saskatchewan. Mr. Kermeen's master's thesis was on the first known occurrence of uranium on the unconformity at the base of the Athabasca sandstone. Mr. Kermeen is the qualified person on the project.

The purchase agreement is subject to TSX Venture Exchange approval.

WARNING: The company relies upon litigation protection for "forward-looking" statements.




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