Mega Uranium Mining & Exploration in  Canada, Cameroon, Australia, Argentina, Bolivia, Columbia and Mongolia.

2016 News Releases

2015 News Releases

2014 News Releases

2013 News Releases

2012 News Releases

2011 News Releases

2010 News Releases

2009 News Releases

2008 News Releases

2007 News Releases

2006 News Releases

2005 News Releases

2004 News Releases

2003 News Releases

2002 News Releases

2001 News Releases

Investor Resources

TSX: MGA
(15-20 min delay)

[Chart]

>> view stock information

Contact

Mega Uranium Ltd.
211 Yonge Street, Suite 502
Toronto, Ontario, Canada
M5B 1M4

Phone 416.643.7630
Fax 416.941.1090
 

Signup for email alerts

2005 News Releases

Maple Minerals Corp.'s Results for the Three and Nine Months Ended June 30, 2005


August 23, 2005
  • Working capital increased to $9,044,664 as at June 30, 2005 as comparedto $2,234,990 as at September 30, 2004
     
  • Exploration expenditures for the 3 months ended June 30, 2005 totaled $859,083 as compared to $561,385 for the 3 months ended June 30, 2004
     
  • Exploration expenditures for the 9 months ended June 30, 2005 totaled $2,358,448 as compared to $812,312 for the 9 months ended June 30,2004

TORONTO, ONTARIO, August 23, 2005 – Maple Minerals Corp. (“Maple”) (MPM:TSX-V) is pleased to announce that the quarter ended June 30, 2005 witnessed continued acquisition and exploration activity by the Company. Exploration continued on the Corporation’s Ni-Cu-PGE Mt. Kakoulima project in Guinea, West Africa. The Company acquired over 1,443 sq km of uranium prospective ground in southern Argentina. Maple entered into an Alliance Agreement with UGL Enterprises for an option to earn up to a 60% interest in all of UGL’s uranium prospective properties in Mongolia. In the Shebandowan Greenstone Belt of Ontario, Canada, Maple acquired an option from Pele Gold Corporation to earn up to a 60% interest in the gold and base metal prospective Ardeen property. As well, during the quarter, Maple closed a $500,080 hard dollar private placement financing, with a $2,123,550 flow-through financing closing shortly after the end of the quarter.

In respect to Maple’s proposed acquisition of Uranium Mineral Ventures Inc. (“UMVI”) and the Ben Lomond uranium deposit in Queensland, Australia, a significant approval was obtained in July 2005 from the Queensland Environmental Protection Agency for the transfer of the Ben Lomond claims from Afmeco to UMVI. The transfer of the claims is now subject to the execution of the transfer by the Queensland Minister of Natural Resources and Mines. As well, Maple recently filed with SEDAR a Technical Report on the Ben Lomond deposit bringing the uranium resources calculation of the deposit into compliance with National Instrument 43-101.

For the three months ended June 30, 2005 (compared with the three months ended June 30, 2004):

  • Exploration expenditures in the quarter totaled $859,083 as compared to $561,385 for the three months ended June 30, 2004.
     
  • Revenue (primarily comprised of interest income) increased to $30,774 as compared to $11,854 for the three months ended June 30, 2004;
     
  • Operating, general, and administrative expenses increased to $339,065 as compared to $59,830 for the three months ended June 30, 2004;
     
  • Stock-based compensation increased to $140,169 as compared to $47,808 for the three months ended June 30, 2004;
     
  • Net loss was $448,460 ($0.017 per share) for the three months ended June 30, 2005 as compared to $95,784 ($0.007 per share) for the three months ended June 30, 2005;

For the nine months ended June 30, 2005 (compared with the nine months ended June 30, 2004):

  • Working capital increased to $9,044,664 as at June 30, 2005 as compared to $2,234,990 as at September 30, 2004.
     
  • Exploration expenditures for the 9 months ended June 30, 2005 totaled $2,358,448 as compared to $812,312 for the 9 months ended June 30, 2004
     
  • Total mineral properties and related expenditures increased to $3,368,185 as at June 30, 2005 as compared to $1,052,564 as at September 30, 2004;
     
  • Revenue (primarily comprised of interest income) increased to $71,756 as compared to $17,877 for the nine months ended June 30, 2004;
     
  • Operating, general, and administrative expenses increased to $729,672 as compared to $159,430 for the nine months ended June 30, 2004;
     
  • Stock-based compensation increased to $650,688 as compared to $88,034 for the nine months ended June 30, 2004;
     
  • Write-off of mineral properties and related expenditures was $42,827 as compared to nil for the nine months ended June 30, 2004;
     
  • Net loss was $1,351,431 ($0.072 per share) for the nine months ended June 30, 2005 as compared to $229,587 ($0.022 per share) for the nine months ended June 30, 2004; Maple Minerals Corp. is an international resource company with property interests in Australia, Argentina, Mongolia, Africa, and Canada.

For more information about Maple, please visit the company’s website at www.mapleminerals.com.

This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Maple’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Maple disclaims any intent or obligation to update these forward-looking statements and cautions investors from placing undue reliance on forward-looking statements. Maple does have an ongoing obligation to disclose material information as it becomes available .

The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.

Contact:

L.M. (Gino) Falzone
President
(416) 643-7630