Buckingham Exploration Inc. options new property

Buckingham Exploration Inc. options new property and completes disposal of Colorado subsidiaries
Buckingham Exploration Inc. announce that it has optioned the Lady Ermalina Chemainus Claims on Vancouver Island. The option calls for an immediate payment of cash and shares and staged payments in future years. Specifically, Buckingham agreed to issue an aggregate of 600,000 shares of common stock of the company and to pay an aggregate of $5,000 in cash in consideration for the grant of the sole and exclusive right and option to acquire a one hundred percent undivided interest in the claims. In addition, Buckingham has to incur not less than $600,000 in expenditures on exploration and development of the property before January 6, 2012.


These claims cover 550 hectares of ground on a NW trending section of the Sicker formation (a strong exploration target for VMS Copper/Lead/Zinc deposits). The property is easily accessible by logging roads for a drill program and has a major power line traversing the project.

Buckingham is further pleased to announce that it has finalized the sale of its two Colorado subsidiaries to Regal Uranium Inc. for $550,000 and repaid the $500,000 debenture secured by these properties.

The company continues to maintain its office and coordinate its operations from its head office in Canon City, Colorado and is actively looking to acquire further properties and additional funding for these projects. Please visit Buckingham’s website at www.buckinghamexploration.com to view updated information with regards to the company’s activities

Mawson focuses on uranium exploration in Scandinavia
Mawson Resources Limited announces the company has commenced proceedings to withdraw from its mineral exploration licences in Spain, and at the same time expand its uranium exploration efforts throughout Scandinavia.

After a recent Board review of the Company’s uranium assets it was determined Scandinavia holds the greatest potential for further significant discoveries. In Spain, the Company no longer believes it is possible to consolidate its holdings with the State Reserve in the Don Benito area in a timely manner and is therefore surrendering its exploration leases. Mawson will increase its exposure in Finland and Sweden by expanding the Company’s dedicated project generation efforts, by drilling around known uranium resources and through potential further acquisitions.

In line with the Scandinavia emphasis, Mr Michael Hudson presented at the biannual Fennoscandian Mining Conference (FEM09) last week on the current status and future potential for uranium in Scandinavia in a presentation titled “Uranium in Scandinavia. Lot’s of Smoke, But Where is the Fire”.

Mr Hudson states: “With over $10 million dollars in cash Mawson is well placed to reinvigorate its efforts in Sweden and Finland where the Company holds tenure over 3 uranium resource projects and many high quality exploration assets. Sweden is currently one of the world’s largest uranium consumers on a per capita basis and has recently made announcements to expand its nuclear program after many years holding a phase-out policy. Finland is currently expanding its nuclear program by building the country’s fifth and the world’s largest nuclear power reactor. At present 48% and 26% of the total electricity supply in Sweden and Finland respectively comes from nuclear energy. Finland and Sweden import all of the uranium required for their nuclear reactors. Mawson looks forward to continuing to provide Scandinavia with an option for its energy future.”