United Uranium (ASX: UUL) has signed a Term Sheet with Shandong No.1 Institute of Geology and Minerals Exploration (SDGM), who has a State sanctioned mandate to actively source a variety of minerals throughout the world to support China’s, and in particular Shandong Provinces industries and economic growth.

The signing of the Term Sheet follows visits by representatives of SDGM earlier in the year, ongoing discussions and negotiations, culminating in the signing ceremony in Perth on 24 September 2010.

United Uranium currently holds seven uranium tenements in the Northern Territory of Australia.
Source: www.proactiveinvestors.com.au