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NWT Uranium Corporation

Publié le 12 février 2008

Cured of Default over Quebec Properties

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NWT URANIUM CURED OF DEFAULT OVER QUEBEC PROPERTIES

 

Toronto – February 12, 2008 – NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) announced today that Azimut Exploration Inc. (TSX-V: AZM) has accepted that the defaults described in Azimut’s Notice of Default dated December 17, 2007 have been cured by NWT, with respect to the North Rae and Daniel Lake uranium properties located in the Ungava Bay region in northern Quebec and under option from Azimut Exploration Inc. (TSX-V: AZM).

 

In its Curative Notice, delivered on January 30, 2008 in response to Azimut’s Notice of Default, NWT disputed that it was in default.  According to Azimut, the extensive documentation and data provided by NWT in its Curative Notice has adequately resolved the issues raised by the Notice of Default.

 

“We are pleased that this dispute has been resolved and that we can now move forward with Azimut on the continued exploration of North Rae and Daniel Lake, which we believe represent a new uranium district in Canada,” said Marek J. Kreczmer, President and CEO of NWT. “We trust that continued cooperation between our two companies will result in significant benefits for our shareholders through the aggressive development of our joint properties.”

 

NWT has the right to acquire up to 65% interest from Azimut in the North Rae Uranium Project, where results to date have revealed the potential for a new uranium district. NWT also has an option to acquire up to 65% ownership in the Daniel Lake Uranium Project, which neighbors North Rae. North Rae and Daniel Lake cover a total area of more than 300,000 acres (123,500 hectares).

 

ABOUT NWT URANIUM:

NWT Uranium Corp. (www.nwturanium.com) is an international resource exploration company with an experienced, highly technical management team.  Since its inception, NWT has concentrated on the acquisition of properties with potential uranium targets.  NWT Uranium is listed on the NASD Bulletin Board under the symbol “NWURF” and the TSX Venture Exchange under the symbol “NWT.”

 

FURTHER INFORMATION:

Marek J. Kreczmer, M.Sc., P.Eng.

President and CEO
NWT Uranium Corp.

(866) 437-9551

info@nwturanium.com

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

 

This news release includes certain “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995.  Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk.  The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the worldwide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

 

Potential quantity and grade is conceptual in nature; there has been insufficient exploration to define a mineral resource on the North Rae Uranium Project and it is uncertain if further exploration will result in the target being delineated as a mineral resource.

NWT Uranium Corporation

EXPLORATEUR
CODE : NWT.V
ISIN : CA6681301074
CUSIP : 668130107
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NWT Uranium Corp. est une société d’exploration minière d'uranium basée au Canada.

NWT Uranium Corp. détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont PICACHOS au Mexique, NORTH RAE, WATERBURY, DANIEL LAKE, CONJUROR / BEAR, FLEX / BEAR et LONGTOM / BEAR au Canada et IN GALL, IRHAZAR, KAMAS et DABALA au Niger.

NWT Uranium Corp. est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 6,6 millions CA$ (5,3 millions US$, 4,6 millions €).

La valeur de son action a atteint son plus haut niveau récent le 20 décembre 2004 à 1,55 CA$, et son plus bas niveau récent le 31 octobre 2008 à 0,02 CA$.

NWT Uranium Corp. possède 132 141 342 actions en circulation.

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Nominations de NWT Uranium Corporation
29/07/2008appoints new Chief Financial Officer
16/06/2008appoints new President and CEO
Projets de NWT Uranium Corporation
01/05/2008(Picachos)Drill Results Support Bulk Tonnage Potential at Pica
14/02/2008advancements with Niger Uranium properties
Communiqués de Presse de NWT Uranium Corporation
12/01/2015NWT Uranium Corp. Provides Clarification
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07/12/2014NWT Uranium Corp. Provides Update
28/07/2014NWT Uranium Announces Results of Its Annual and Special Shar...
14/05/2014NWT Uranium Announces Shareholder Meeting
17/04/2014NWT Uranium Announces Resignation of CFO, Raphael Danon
29/08/2013
08/04/2013Announces Change of Business
15/02/2013Change of Business Update
30/01/2013Provides Corporate Update
24/01/2013in Discussions with TSX Regarding Resumption of Trading
08/01/2013Announces Niketo Ltd., Its Wholly Owned Subsidiary, Will Mak...
08/07/2011John Zorbas Appointed Executive Chairman
16/02/2011Exercises Warrants For NWM Mining Corp Shares
02/06/2008management resignations
28/04/2008positive results from drilling at Niger Uranium's
04/04/2008 acquires interest in Kalahari Minerals through Niger Uraniu...
13/02/2008and Nu-Mex Uranium Corp. terminate arrangement agreement
12/02/2008Cured of Default over Quebec Properties
11/01/2008updates shareholders on Niger Uranium 2008 exploration progr...
14/12/2007Updates Shareholders on Letter Agreement for a Business Comb...
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