TSXV: UVN

CALGARY, Oct. 6 /CNW/ - On January 25, 2008 Uravan Minerals Inc. ("Uravan) (TSXV: UVN) submitted a Land Use Permit (LUP) application to Indian and Northern Affairs Canada (INAC) and the Government Nunavut Territory (GNU) for its Garry Lake project proposal. The Garry Lake LUP application was subsequently reviewed by INAC, GNU and other land use regulators such as the Nunavut Impact Review Board (NIRB or Board), Kivalliq Inuit Association (KIA), Nunavut Planning Commission (NPC) and Nunavut Water Board (NWB) as follows:

-   On April 1, 2008 the NPC completed its review, as required by the
    Keewatin Regional Land Use Plan and the Nunavut Land Claims Agreement
    (NLCA); and provided NIRB with a positive conformity determination
    for the Garry Lake project proposal.
-   On May 23, 2008, subsequent to the NIRB conducting a Screening review
    of the project proposal, NIRB requested further input from all
    interested parties regarding potential cumulative impacts on caribou
    herds and caribou calving in the area of the Garry Lake project
    proposal.
-   On June 27, 2008, subsequent to the NIRB's review of further input
    from all interested parties (including Uravan's response), NIRB
    submitted a "Screening Decision Report" to the Honourable INAC
    Minister with a recommendation that a 'public review' be held for the
    Garry Lake project proposal in accordance with Part 5 of Article 12
    of the NLCA. ("Public Review").

On September 25, 2008, Honourable Chuck Strahl, Minister of INAC indicated that the Garry Lake project proposal shall be subject to Public Review, as described above, however the Minister proposed.... "that the Board structure the review in a manner that will facilitate a thorough , yet expeditious review of the project". Further, the Minister made note of..... "the Boards acknowledgement in its decision report that it is unusual for a project of this size to be recommended for review". The Minister supported focusing the scope of the Public Review on the Garry Lake project proposal's impacts and cumulative impacts on wildlife habitat and Inuit wildlife harvesting.

What this may mean for Uravan and the Garry Lake project is uncertain. Clearly the current planned exploration work will be delayed until the 2009 field season. Exploration in the Canadian 'barren-lands' or sub-arctic areas of Nunavut (NU) and Northwest Territories (NT) are significant undertakings that have to be planned and carried out during a limited field season. During the Public Review process Uravan has minimal control over the scheduling or outcome of these proceedings, therefore, cannot be certain its 2009 exploration plans can be met.

The Garry Lake property consists of mining claims located on Crown lands (Government of Canada). These claims are granted under the Territorial Lands Act and approved by the NU Mining Recorder. To explore these claims the Crown has granted reasonable access to the land. To hold these mining claims in good standing, Uravan must incur exploration expenditures amounting to $2.00 per acre annually (the "Assessment Work") or forfeit the claims.