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Athabasca Uranium Down 5%; Completes Winter Drilling Program

Athabasca Uranium Inc. (UAX.V) announced today the completion of its 2011 diamond drilling program at the Keefe Lake Uranium Project in the Athabasca Basin region of Saskatchewan.

The company said 5 holes (1,645 meters total) were completed in November and December 2011, with 2 holes encountering significantly anomalous alteration and another containing chloritic alteration at various intervals below the unconformity, a common feature found in the host rocks containing uranium mineralisation.

UAX shares, after opening unchanged at $0.185 this morning, are now lower by 5% at $0.175 and are just $0.035 above year lows.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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