On April 26, 2006, Strongbow and Bayswater Uranium Corporation announced the acquisition of approximately 164,000 acres of mineral claims in two blocks in the southern portion of the Thelon Basin, Northwest Territories. The mineral claims were acquired based on the results of an evaluation of public uranium exploration datasets and regional geologic information.

The 70,521 acre, northeast trending VB claim block covers a cluster of reportedly radioactive sandstone boulders coincident with a north easterly trending basement structure. This basement feature extends off the property to the southwest and northeast onto ground controlled by Cogema Resources Inc. and Pathfinder Resources Ltd., respectively.

The 94,131 acre TC West claim block covers a large accumulation of radioactive sandstone boulders near the southern margin of the Thelon Basin. Regional magnetic data for the area indicate the claims are underlain by a number of linear magnetic features and favourable structural intersections.

The Thelon Basin represents an under explored, major Proterozoic sandstone basin that shares many geological characteristics with the Athabasca Basin located in Saskatchewan, approximately 300 km to the south. Numerous high grade unconformity style uranium deposits have been identified within the Athabasca Basin, and mining of these deposits currently generates approximately one third of the world's uranium production. Similarities between the Athabasca and Thelon Basins include the presence of favourable host and basement rocks, major structural features, Hudsonian aged intrusive rocks and known occurrences of uranium mineralization, including Cogema's Kiggavik, Andrew Lake and END deposits (the Kiggavik trend), host to approximately 131 million pounds of contained U3O8 and located approximately 250 km to the northeast of the VB and TC West Project areas.

The VB and TC West mineral claims are subject to a 1% net smelter returns royalty on metals and a 1% gross overriding royalty on diamonds. One half of the royalties (0.5%) can be purchased at anytime for $1 million. Plans for exploration of the VB and TC West project areas in 2006 include ongoing compilation of historical data in advance of further work in 2007.