Paraguay Uranium - UrAmerica

PARAGUAY

Uranium Exploration Permits

UrAmerica Ltd. recently filed for 9 permits ('claims' or 'cateos') in the Parana Basin (East Paraguay) with Paraguay´s Federal Mining Authorities.These 9 permits cover a surface of approx. 955.601 hectares. We are currently waiting for governmental approval.These targets are uranium deposits that can be recovered by either in situ leach technology or conventional underground mining.

The Parana Basin contains known uranium mineralisation, based on historical exploration.
In 1976 The Anschutz Corporation (with joint venture partners Taiwan Power Company and Korea Electric Power Company) commenced exploration in eastern Paraguay. Drilling commenced in 1977, and by 1983 had totalled over 120,000 meters, with a total of nearly $30,000,000 having been spent. Drilling on a small portion of the Yuty Concession from 1977 to 1982 outlined a zone of significant uranium mineralization. At that time Anschutz speculated that approximately 2 million pounds of U3O8 per kilometer of strike length may be present at San Antonio, for a total potential of 14 million pounds
U3O8 in the area.

The Paraná Basin covers large portions of southern Brazil, eastern Paraguay and northern Uruguay. The host formation is sands of the San Miguel formation of upper Permo-carboniferous age. The same formation is host to the Figueira deposit in Brazil which is reported to have produced in the order of 15-20 million lbs U3O8.

Paraguay is currently undergoing major economic changes and has just elected a new government. A new mining law has recently been enacted and there is commitment to attract and encourage foreign investment in natural resources.

UrAmerica Ltd, a junior mining company incorporated in the UK is engaged in the Identification, Acquisition and Exploration of properties with uranium potential in Latin America.

The Company is currently operating in Argentina, Colombia and Paraguay.

UrAmerica aims to be the leading Uranium Junior Mining Company in Latin America.

Total Permits: 9

Geologycal Target: Upper P-C deposits

Type of Deposits: Sandstones hosted U, Deposits in Roll Front, depositional model