VANCOUVER, British Columbia, Aug. 31 /PRNewswire-FirstCall/ -- Canam Energy, Inc. (Pink Sheets: CNGJ), announces today that due to the uncertain political climate that exists in Mongolia relating to the mining business the company has dropped its uranium property in Mongolia.
The company's focus is now on mining properties in the western hemisphere with an emphasis on uranium and precious metals. The company also has dropped its property in the Sudbury basin of Ontario as it does not fit the company parameters.
The company is confident that Quebec represents a promising opportunity for uranium exploration and is a valuable asset to add to its property portfolio. The property is located in a prolific area with many operational camps and an operating uranium mine in the immediate vicinity. The increased commodity price for uranium coupled with the growing global demand also fits with the company's strategy of mobility and diversification.
Canam Energy Inc. is a rapidly emerging mineral exploration company with a corporate mandate to define and explore mineral properties worldwide. The company will acquire highly prospective properties, predominately uranium, that offer the opportunity for expansion and development. Canam Energy Inc. currently has properties in the Sudbury Basin in Ontario and Mongolia.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications which may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above.
FOR FURTHER INFORMATION PLEASE CONTACT: Canam Energy, Inc. Ken VanBoeyen Website: http://www.canamenergyinc.com/
