Rio Tinto exercises option over Saskatchewan uranium assets

Diversified mining major Rio Tinto has agreed to make a final cash payment of C$1-million to TSX-V-listed junior Pistol Bay to gain the remaining 25% interest in uranium properties in the Athabasca basin of Saskatchewan. The C block of uranium properties is under option to Rio Tinto, which has already earned a 75% interest to date, the diversified Canadian junior said in a statement.