News wire article from our research archive:

Majescor Spins-out its Baker Lake Uranium Rights in the Thelon Basin for a Major Stake in a New Uranium Company-Airborne Geophysical Survey to Commence.

MONTREAL, QUEBEC, Aug 24, 2006 (CCNMatthews via COMTEX) -- Majescor Resources Inc. ("Majescor")(TSX VENTURE:MAJ) is pleased to announce that it has entered into an agreement with Uranium World Energy Inc. ("UWE"), a recently formed private company, whereby UWE can acquire a 100% interest in Majescor's Baker Lake uranium project, located 20 to 40 km south of the Kiggavik group of Uranium deposits, in southwest Nunavut.

The Baker Lake uranium project consists of two continuous claim blocks totaling 19 permits ("the property") owned by De Beers Canada Exploration Inc. ("De Beers"). Majescor has an option to earn up to an 80 % interest in the project from De Beers (see press ...

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