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Athabasca Uranium Lower After Keefe Lake Update

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Athabasca Uranium Inc. (UAX.V) is down 1 cent at 18 cents, and closer to a year low 14 cents after reporting that the company is in the final stages of preparing for its diamond drill program at the Keefe Lake Uranium Project in the southeastern Athabasca Basin. The company has planned a 10 short-hole (approximately 3,000 meters) program to test high-value targets defined by a high resolution 2D seismic survey (2008) and several current airborne Mag/EM surveys. Target depths are expected to range between 200-300 meters. With permitting and ramp-up nearing completion, the company expects to commence drilling within the next few weeks.

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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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