Anglo-Bomarc Mines Ltd. announced that in order to focus its capital expenditures on its 10% working interest in the emerging Hughes Lake Uranium project joint venture partnership with Cameco Corp. and AREVA Resources Canada Inc., Anglo's board of directors have deemed that it is in the best interest of the Company not to continue to participate in its joint venture with First Idaho Resources on the Hercules property. On April 1, 2013 the company gave notice to First Idaho Resources Inc. of its intention not to participate in any current or future work program or programs on the Hercules property or provide any additional expenditures of its proportionate share.

Pursuant to the terms and conditions of the 1983 joint venture agreement between Anglo-Bomarc US and First Idaho Resources Inc. the two parties have elected to convert Anglo US's 50% working interest to a 20% net profit interest. Anglo will therefore no longer be responsible for any current or future expenditures related to work programs undertaken on the Hercules property. The new agreement is effective as of April 15, 2013.