Uranium Star Corp.’s (OTCBB:URST) (FRANKFURT:YE5) (“Uranium Star” or “the Company”) Green Giant Vanadium Project in Madagascar is emerging as a potential world-class deposit.
As part of Uranium Star’s Strategic Plan centered on strengthening and enhancing the company’s operating capabilities, the Company is pleased to announce the following Board Appointment. Mr. Peter Harder has agreed to join the Board effective immediately and will also serve on the Special Advisory Committee with the recently announced Chairperson, the Honourable Brian Tobin.
Mr. Harder’s impressive credentials are highlighted below:
Kirk McKinnon, President & CEO commented, “Peter Harder’s appointment to the Board represents the Company’s understanding and desire to ensure that we will possess the necessary experience and skills which are critical in the advancement of a project such as our Green Giant Vanadium Project. Given Peter’s credentials and background, he can quickly and easily interface when necessary with the major mining companies such as Sherritt International Corporation and Rio Tinto Limited who have significant projects in Madagascar involving a capital spend in the order of $6 billion. He is also well suited to guide the Company’s interface with the Madagascar government as the Green Giant Vanadium Project moves forward in size and scope. We are very pleased Peter has joined our team and welcome him on board as we collectively work towards achieving Green Giant’s development goals”.
World’s Consumption of Vanadium Forecasted To Go Much Higher
Given the anticipated future demand for high-quality steel products in conjunction with the focus on “Green Technology” products such as batteries for renewable energy storage and electric cars, the world’s consumption of vanadium is forecasted to go much higher.
Recognizing this opportunity, Uranium Star is strategically positioning the company and its Green Giant Project in the best possible political and financially sound position. Uranium Star’s establishment of a Special Advisory Committee on which Mr. Tobin and Mr. Harder now sit is commensurate with this objective.
To learn more about Uranium Star’s Potential World Class Discovery of Vanadium, please reference our 6 latest press releases on our website at www.uraniumstar.com.
December 16, 2008 - Uranium Star Confirms 21 Km Trend of Significant Vanadium
January 29, 2009 - Assay Results Indicate World-Class Vanadium Potential
April 29, 2009 - Uranium Star Re-Commences Exploration on its Green Giant Vanadium Project in Madagascar
May 27, 2009 - Uranium Star - Initial Trench Results on Green Giant Vanadium Project
June 22, 2009 - Uranium Star Releases 15 Additional Trench Results on Green Giant Vanadium Project
June 29, 2009 - Uranium Star Establishes Special Advisory Committee; Appoints Honourable Brian Tobin as Chairperson
ABOUT THE COMPANY
Uranium Star Corp. is a rapidly emerging exploration company with assets in Madagascar (Vanadium) and Northern Quebec (Uranium). Its shares are traded on the OTCBB under the symbol URST and in the Frankfurt Exchange under the symbol YE5. The Company continues to focus on high priority property acquisition and exploration in order to participate in meeting the significant and increasing demand for uranium and other strategic metals as alternative energy sources.
A non-brokered private placement of $680,000 was completed to facilitate the necessary data accumulation for the advancement of the engineering, environmental and metallurgical reports required to complete the feasibility studies for the Project. An aggregate of 6,800,000 Units ("Units") of URST were issued with each Unit comprised of one common share of URST and one half-warrant ("Warrant"), with each Warrant exercisable at $0.20 per share for 24 months from date of issuance. A finder’s fee of 6% shares, in lieu of cash, and 6% broker warrants were issued as part of this financing.
All securities issued with respect to this financing are subject to standard regulatory hold periods.
Vice President of Business Development
Uranium Star Corp.
Toll Free: 800.818.5442 or 416.364.4911
Kirk McKinnon, President & CEO
Richard Schler, Chief Operating Officer & CFO
WARNING: The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.