ZAD Zadar Ventures Ltd

Zadar Ventures Ltd. (the "Company") (TSX VENTURE:ZAD)(FRANKFURT:ZAV) is pleased
to announce it has executed a definitive Purchase and Sales agreement with
Canterra Minerals Corporation ("Canterra"), Triex Minerals Corp. ("Triex"), a
wholly owned subsidiary of Canterra, and Thelon Capital Ltd whereby Zadar has
purchased a 100% interest in the Pasfield Lake uranium project. Under the terms
of the agreement the Company will pay $75,000 in cash payments and issue
1,745,000 common shares (1,430,000 to Canterra and 315,000 to Thelon Capital).
Canterra will also retain a 2% NSR on the project with a buyback of 1% for $1
million. 


Pasfield Lake lies in the eastern Athabasca Basin, which has proven to be the
most prolific and productive area to date, for uranium mines and discoveries).
This area contains the Key Lake, McArthur River, Cigar Lake and Millenium
uranium mines as well as the Roughrider uranium deposit discovered by Hathor
Exploration Ltd. and sold to Rio Tinto for $654 million in 2012. 


The Pasfield project (37,445 hectares) is situated on the Pasfield Structure
(possibly an astrobleme and similar to the Cluff Lake Structure) and astride the
Cable Bay shear zone ("CBSZ"). Exploration has identified important indications
of the presence of uranium-bearing hydrothermal fluids along the fault that
forms the eastern arm of the CBSZ. Further drilling is required to adequately
test for uranium mineralization in this structurally complex area, especially
where shallow basement (300-500 metres) is indicated by geophysical surveys. The
property is a large and compelling exploration target encompassing a major
basement uplift feature, with at least 600 metres of vertical displacement
relative to regional basement depths. It is located on a major regional shear
zone, with strong surface geochemical anomalies and strongly altered and
radioactive rocks discovered in drill core, and coincident with the eastern and
western "arms" of the "CBSZ". Exploration by Triex comprised lake sediment
sampling, soil and biogeochemical sampling, airborne electromagnetic and gravity
surveys, and diamond drilling. Soil and bio-geochemical surveys identified a
robust multi-element anomaly with significantly elevated uranium values
accompanied by elevated levels of boron, lead, molybdenum, vanadium and arsenic,
the five key pathfinder elements associated with alteration halos above
unconformity-type uranium deposits in the Athabasca Basin. Reconnaissance
drilling identified the presence of significant alteration features indicative
of proximity to uranium ore-bodies. Pervasive bleaching was present in basement
rocks at the unconformity in all holes. Other features intersected in individual
holes included intensely clay-altered granitic gneiss, hematite-filled breccia
in basement granite gneiss, + 300 metres of graphitic garnet-mica metapelitic
gneiss, strongly graphitic fracture zones, and weak but extensive clay
alteration of the sandstone. Two zones with increased radioactivity and elevated
uranium, boron and other key pathfinder elements were identified; one at the
unconformity and another 800 metres above the unconformity.


The common shares are issuable upon execution and TSX.V approval and will be
subject to a hold period of four months and one day from the date of issue.


Zadar Ventures Ltd. is a junior uranium exploration company focused on acquiring
and exploring for economically viable mineral resources. For more information we
invite you to visit the company's website at www.zadarventures.com.


Kieran Downes, P. Geo., a Qualified Person as defined by National Instrument
43-101, has reviewed and verified the technical information provided in this
release.


ON BEHALF OF THE BOARD OF DIRECTORS

Paul Gray, President 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Zadar Ventures Ltd.
Paul Gray
President
604-682-1643

Zadar Ventures (TSXV:ZAD)
Historical Stock Chart
From Apr 2024 to May 2024

Zadar Ventures (TSXV:ZAD)
Historical Stock Chart
From May 2023 to May 2024