The Carswell Project is a joint venture with ESO Uranium Corp. ("ESO") on claims that border AREVA's past-producing Cluff Lake mine in the western Athabasca Basin. ESO has earned a 50% interest in the project by spending $1.1 million in exploration work which included airborne electromagnetic and magnetic surveys, ground horizontal loop electromagnetic surveys, radioactive boulder prospecting, radon surveys and diamond drilling of identified targets. Uranium mineralization was discovered during the drill program and ESO is reviewing the data.