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Client Work

De Beers Canada enters into option and participation agreement for diamond exploration in Western Athabasca region with CanAlaska Uranium

Fasken
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Client

De Beers Canada Inc.

De Beers Canada Inc. (De Beers) entered into an option and participation agreement with CanAlaska Uranium Ltd. (CanAlaska) that provides for multi-stage work programs for De Beers to earn-in up to a 90% participating interest in the Saskatchewan project, following which the parties will enter into a joint venture agreement, the form of which has been negotiated by the parties. If De Beers, acting as operator, completes the work programs it will have spent an aggregate of C$20.4 million over a seven year period. CanAlaska retains the right to participate on a pro rata basis once De Beers has earned a 70% participating interest in the project. Fasken Martineau advised De Beers with a team that included Robert L. Shirriff and Alex Nikolic.

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