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60 www.resourceworld.com D E C E M B E R / J A N U A R Y 2 0 1 8 SASKATCHEWAN Eastside (acquired June 2017) and Otherside uranium properties and pros- pecting on its Alces Lake high-grade, rare earths and uranium joint venture (90% Appia). On November 13, Appia reported positive results from an airborne survey over the Eastside property confirming the presence of a historic radiometric anomaly as well as identifying multiple radiometric expressions of similar magnitude. AREVA Resources Canada Inc., a subsidiary of multinational New AREVA Holding [AREVA-Paris] has a 30.2% inter- est in the McArthur River uranium mine (Cameco Corp. 69.8%) and 37.1% interest in the Cigar Lake uranium mine (Cameco Corp. 50%; Japanese partners hold the remaining 7.9% and 5%) and operates the McClean Lake uranium ore process- ing mill and is a partner at the Key Lake mill. AREVA continues to explore in the Athabasca Basin area. Besides its majority holding in the Cigar Lake and McArthur River/Key Lake Mines, Cameco Corp. [CCO-TSX; CCJ-NYSE] has the Rabbit Lake Mine now under care and maintenance due to market conditions. Cameco also has the joint venture (Cameco 70%) Millennium Project in the Athabasca Basin. On October 27 Cameco's President and CEO, Tim Gitzel, reported, "There has been little change to the market and we continue to face difficult conditions, with the average year-to-date uranium spot price down about 20% compared to the 2016 annual average. The company has lowered their production output for 2017. November 9, Cameco announced pro- duction will be suspended for 10 months at the McArthur River Mine and Key Lake mill by the end of January "due to contin- ued uranium price weakness". At CanAlaska Uranium Ltd.'s [CVV- TSXV; CCVUF-OTCQB; DH7N-FSE] West McArthur River Project, drilling by Cameco Corp. has confirmed West McArthur uranium discovery. Cameco is earning a 60% interest in the project. The project is adjacent to Cameco's Fox Lake uranium dis- covery with reported inferred resources of ~68.1 million lbs based on 387,000 tonnes at 7.99% U 3 O 8 . On July 10, CanAlaska announced they obtained 100% in the Cree East uranium project in the south-eastern portion of the Athabasca Basin. CanAlaska has drilled a total of 34,638 metres in 91 drill holes at the property. The company has diamond projects in Saskatchewan: the Athabasca Diamond Project and the Pikoo Diamond Projects in east-central Saskatchewan. On November 2, Denison Mines Corp. [DML-TSX; DNN-NYSE] reported that exploration extended the new high- grade unconformity at their 60%-owned Wheeler River project (Cameco 30% and JCU 10%) host of the high-grade Phoenix and Gryphon uranium deposits. A 2016 preliminary independent economic assess- ment evaluating the co-development of the Gryphon and Phoenix deposits with one production facility is based on US $44/lb of U 3 O 8 , with a pre-tax IRR of 20.4% and a pre-tax Net Present Value (NPV) of CDN $513 million (Denison's share CDN $308 million). Denison has a 64.22% interest in the J Zone deposit on the Waterbury Lake prop- erty. On October 11 the company reported a significant increase in uranium grades for the Huskie Zone following the compa- ny's summer 2017 drilling program there. Denison also has 22.5% interest in the McClean Lake joint venture comprising several uranium deposits and the McClean Lake uranium mill and a 25.17% interest in the Midwest deposit Fission Uranium Corp.'s [FCU-TSX; FCUUF-OTCQX] Patterson Lake South (PLS) in the Athabasca Basin is host to the Triple R deposit. Fission states that it "has recently discovered new high-grade zones and outlined the largest mineralized trend in the region." Forum Uranium Corp. [FDC-TSXV] is exploring several drill-ready projects in the Athabasca Basin area: Fir Island, Henday (Rio Tinto 60%; Forum 40%), Clearwater (Forum 75% /Uracan 25%), Maurice Point, Key Lake Road Project (four properties) and the Northwest Athabasca JV (Forum 39.25%; NexGen 28.25%; Cameco 20%: AREVA 12.5%). Geophysics and soil sam- pling were conducted over several projects in summer of 2017 in preparation for priori- tizing future drill programs. IsoEnergy [ISO-TSXV] holds several assets in the eastern Athabasca Basin: Geiger, Thorburn Lake, Radio, North Thorburn, Carlson Creek, Madison and 2Z. In 2016 and 2017 ISO conducted drill programs at Thorburn Lake and Radio. DC-Resistivity surveying was completed 2017 at Madison. At the recently acquired Geiger prop- erty, the company states that, "high-grade, basement hosted uranium mineralization is present on the property and it will be the focus of IsoEnergy's exploration efforts." Historic drill hole HL-50 intersected 2.74% U 3 O 8 over 1.2 metres in the base- ment on the H11 South conductor. Kivalliq Energy Corp. [KIV-TSXV] has the Genesis uranium property (north- east of Athabasca Basin) and the Hatchet Lake uranium property (adjacent to the Athabasca Basin). In October 2017, Kivalliq completed a 1,943 line-km, helicopter- borne, electromagnetic survey covering both properties. Roughrider Exploration Ltd. [REL-TSXV] is earning a 50% initial interest and holds the right to acquire up to an 85% interest in the Genesis Property. Rook I is NexGen Energy Ltd.'s [NXE- TSX, NYSE AMERICAN] 100%-owned flagship property which hosts the high- grade Arrow deposit, the South Arrow Discovery and the Harpoon Discovery. In July 2017, NexGen announced the positive results of its independent maiden Preliminary Economic Assessment (PEA) of the basement-hosted, Arrow deposit based on an indicated mineral resource of 179.5 M lb of U 3 O 8 contained in 1.18 M tonnes grad- ing 6.88% U 3 O 8 , and an inferred mineral resource of 122.1 M lb of U 3 O 8 contained in 4.25 M tonnes grading 1.30% U 3 O 8 . (2017 drill programs not included in PEA). September 15, 2017, NexGen announced the filing a NI 43-101 technical report on the Arrow Deposit. NexGen Energy holds a 64% interest in IsoEnergy Ltd. Rio Tinto Canada Uranium Corp. [RIO-LSE] has assets in the Athabasca Basin region of Saskatchewan including the Roughrider Project.