Aurgent Gold Corp. announced that it has entered into an agreement with a vendor by which the company can earn a 100% interest in the Fond du Lac (FDL) Uranium Project, which covers an area of 1645ha, in the northeastern Athabasca Basin, Saskatchewan, 45km SE of Stony Rapids. The project adjoins Purepoint Uranium's Newnham Lake Project to the north east.

The primary target at FDL is an EM anomaly lying within a magnetic low identified most recently by a MEGATEM survey commissioned by Purepoint Uranium in 2005. The target (Zone A) is interpreted as a ~4km NE trending 'strong' EM anomaly, coincident with a magnetic low. The EM anomaly is presumed to be located at or above the basement and may be indicative analteration event.

Below this conductive anomaly, Condor Consulting interpreted a large NE trending resistive body lying within the basement. Of particular interest, the property, and the EM anomaly, is transected by a NW trending fault; crosscutting structures elsewhere in the basin have been demonstrated to be key structural features in the deposition of uranium, such as at Shea Creek. Depths of investigation are shallow; basement contact is ~125m.

The company can acquire the project by issuing 400,000 common shares and completing $1,500,000 in exploration over three years. The acquisition is not subject to an NSR. This transaction is subject to TSX Venture Exchange approval.