Canuc sells claims to Denison Mines

Uranium claims held by Canuc Resources have been sold to Denison Mines. Located near Elliot Lake, Ont., the claims host reserves of almost 7 million lb of uranium oxide. Canuc says that it could receive a production royalty from the claims as early as the last quarter of 1987. The sale is subject to completion of final agreements, Canuc says.

Denison operates a large uranium mining and milling complex at Elliot Lake.