Company News
Bancroft Uranium Updates Progress With First Nations Wednesday
May 14, 7:00 am ET
SCOTTSDALE, AZ--(MARKET WIRE)--May 14, 2008 -- Bancroft Uranium Inc. (OTC BB:BCFT.OB
- News) ("Bancroft" or the "Company") wishes to update the
status of ongoing discussions with local First Nations representatives regarding
its Monmouth Uranium Project, located near Gooderham, Ontario.
These discussions are designed to provide an opportunity for dialogue on issues of significant relevance to the local First Nations people in regards to the Company's project which is being conducted within their Treaty Territory and areas of cultural relevance.
Bancroft management recognized the importance of local First Nations traditional rights and sought immediate contact with them in order to establish a mutually respectful relationship prior to any advanced exploration commencing at the Monmouth project.
Prior to the commencement of the spring 2008 diamond drilling program, a leading member of the First Nations community reviewed the property from an archaeological perspective. A close working relationship has now been developed and the Company looks forward to an ongoing, respectful and beneficial partnership with the local First Nations.
Bancroft Uranium desires to work closely with the local First Nations band in deference to their traditional and cultural heritage. The Company envisages close collaboration with respect to both archaeological and environmental studies on an ongoing basis. Our project will provide economic benefits by way of employment opportunities for members of the First Nations and more particularly, the opportunity to provide members of the First Nations with skill sets that can be utilized in other areas.
Additionally, the Company intends to undertake a specific support program to the local First Nations community that will provide ongoing, long-term benefits. Bancroft foresees a representative of the First Nations being appointed to the Board of Directors in the near future and the Company is appreciative of the positive reception it has been given to-date by First Nations representatives.
For inquiries from the public and media concerning the Monmouth Uranium Project please contact Greenspirit Strategies at 1-877-54 GREEN or 1-877-544-7336. For shareholder and investor information please contact investor relations at 1-866-860-2995.
ABOUT BANCROFT URANIUM INC. (OTC BB:BCFT.OB - News)
Bancroft Uranium Inc. is an exploration Company which intends to develop Uranium assets in North America. Bancroft's initial asset, the Monmouth Uranium Project is envisioned to have the potential of a low cost, open pit uranium producer located close to infrastructure and end product buyers.