HORNBY BAY MINERAL EXPLORATION

Hornby Bay Mineral Exploration Ltd. (HBME) with its head office in Toronto, Ontario is a uranium exploration and development company with all of its uranium mineral properties located in Nunavut, Canada, which is the only Canadian jurisdiction that has settled its native land claim issues.

HBME was incorporated in 1996 under the Business Corporations Act (Ontario) as a uranium exploration company. From 1996 to 1998, HBME acquired mineral claims in the Hornby Bay Basin, which is located in western Nunavut and is one of the three major Proterozoic uranium basins in western Canada. Since 2003, the Company’s overall strategy has been based on the systematic acquisition of relevant geophysical datasets and ground exploration activities for the definition of key target areas on its uranium properties. The uranium models pursued by HBME on its uranium properties include high-grade unconformity deposits; large, lower-grade disseminated deposits in sandstone; basement hosted high-grade, structurally controlled deposits; and vein type deposits.

July 29, 2010 - 100728 Drilling is underway