Brades Announces Closing of Lorne Lake Uranium Property Acquisition
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 15, 2013) - Brades Resource Corp. ("Brades" or the "Company") (TSX VENTURE:BRA) is pleased to announce the closing the Lorne Lake uranium property acquisition previously announced on July 16, 2013. Pursuant to the transaction, Brades has acquired a 100% interest in the Lorne Lake property located in the Western Athabasca Basin of Saskatchewan in consideration for the issuance of 3,500,000 common shares. Brades has also granted a 2% net smelter return royalty on the property in favour of one of the vendors, Ryan Kalt.
Brades is a junior exploration and development company with a focus of operations on Canadian resource properties. Brades is currently advancing its BRC porphyry copper-gold property in the Iskut River District, northwestern British Columbia. The BRC property covers 14,133 ha. and exhibits mineralization and alteration features that are similar to the Teck - Novagold Galore Creek deposit and the Imperial Metal Red Chris deposit in northwestern British Columbia.
ON BEHALF OF THE BOARD
Cheryl More, President and CEO
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