In early 2006 Strongbow announced a strategic agreement with Bayswater Ventures Corp. to form the Canada Uranium Joint Venture (CUJV) for the purpose of exploring for uranium deposits within Canada. Bayswater is the operator of the CUJV and, over the first five years of the agreement, shall contribute funding of up to $500,000 for the acquisition of prospective Canadian uranium properties identified by Strongbow. Strongbow and Bayswater retain a 50% working interest in each acquired property, subject to the right of Strongbow to select up to three joint venture properties for which Bayswater must fund the first $600,000 in exploration expenditures on each property. Under the terms of the arrangement, Strongbow must offer all Canadian uranium opportunities that it identifies to Bayswater for inclusion in the joint venture. Bayswater maintains the right to identify and acquire Canadian uranium prospects outside of the joint venture, with no obligation to offer such projects to Strongbow unless such prospect is located in any of the Yukon, Nunavut, or Northwest Territories.

A program of identifying prospective areas in Canada for uranium mineralization has commenced and property acquisition is underway. To date, the CUJV has acquired the North Thelon and South Thelon. Both properties are at a very early stage of exploration. Strongbow's uranium exploration activities are conducted under the supervision of Robert Campbell, P.Geo.(BC), a qualified person under NI 43-101.