Sydney Selvon, with the Northern News Services, reports on the recent uranium rush in Canada's Northwest Territories.

A uranium rush in the Thelon Basin, which straddles the frontier between NWT and Nunavut, continues to heat up.

Companies are staking claims in both territories and reaping big profits as their shares are traded at escalating prices.

Driving this action is the fact uranium prices have nearly tripled in two years, from $12 to $35 a pound, because yearly demand exceeds production by 80 million pounds.

"Yes, you can say there's a uranium rush. Numerous companies have been into our office looking after the information we have on uranium," said Scott Cairns, district geologist at the NWT Geoscience Office.

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