VANCOUVER, BRITISH COLUMBIA, Feb 20, 2007 - Uranium North Resources (TSX VENTURE:UNR) announces that they have confirmed the presence of widespread uranium mineralization in two of the numerous target areas on the Amer Lake property in the Thelon Basin region, Nunavut. Recent surface sampling confirmed the significant uranium endowment of the property and re-established the locations of the Main and Faucon Zones.
"The sample results exceeded our expectations and in all cases returned average uranium values higher than the historic exploration results," says Mark Kolebaba, President and CEO of Uranium North Resources. "These results provide added confidence our exploration drilling this season will quickly increase our estimate of the pounds of uranium at Amer."
Grab samples collected over a 200-metre strike length at or near the Main Zone produced above-average uranium grades as follows:
Table 1. Main Zone
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% U3O8
SHOWING SAMPLE TYPE (URANIUM OXIDE)
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Main 3a Grab 0.15%
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Main 3b Grab 0.33%
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Main 4 Grab 0.12%
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Main 5 Grab 0.20%
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The Main Zone, one of four drill targets at Amer Lake, was drilled by Aquitaine and Cominco in the late 1960's to late 1970's. More than 6,000 metres of drilling delineated a historical resource (non compliant with NI 43-101) of 6.7 million pounds of uranium at an average grade of 0.07%. The mineralized zone was tested to a depth of about 100 meters and remains open at depth and along strike in all directions.
Samples collected from three sites almost 200 metres from the Main Zone returned exceptional uranium values, increasing the likelihood for expansion of the zone.
Table 2. Main Zone-North
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% U3O8
SHOWING SAMPLE TYPE (URANIUM OXIDE)
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N. Main 6a Grab 0.58%
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N. Main 6b Grab 0.46%
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N. Main 7a Grab 0.10%
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N. Main 7b Grab 0.08%
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N. Main 2 Grab 0.02%
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Located two kilometres northeast of the Main Zone, the Faucon Zone was drilled by Aquitaine and Cominco in the 1970's. Both companies reportedly drilled several holes in the area intersecting numerous 1 to 2.5 metre intercepts with uranium values ranging from 0.1 to 0.18%. Recent samples collected from outcrop (samples 1-4) were consistent with historical results averaging 0.13%, while samples from locally derived frost heaved boulders yielded exceptionally higher values (samples 5a-5d) and provide evidence the Faucon Zone has potential for expansion in both directions along strike and to the south.
Table 3. Faucon Zone
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% U3O8
SHOWING SAMPLE TYPE (URANIUM OXIDE)
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Faucon 1 Grab 0.13%
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Faucon 2 Grab 0.13%
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Faucon 3 Grab 0.19%
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Faucon 4 Grab 0.14%
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Faucon 5a Grab 0.56%
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Faucon 5b Grab 0.43%
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Faucon 5c Grab 0.89%
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Faucon 5d Grab 0.67%
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Uranium North's exploration mandate is to bring the property to NI43-101 standards and to substantially expand the resource by exploring along strike and down dip of the Main Zone and by further exploring the Faucon Zone.
Uranium North Resources is a discovery-stage uranium exploration company with clear and immediate growth potential.
B. Kienlen (P. Geol) is Uranium North's qualified person reviewing the new sample data in this release. B. Brereton (P.Eng) has reviewed the limited information that is available with respect to this historic drilling. ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba, President & CEO, Uranium North Resources Corp.
Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
SOURCE: Uranium North Resources Corp.
Uranium North Resources Corp.
Troy Shultz Corporate Communications
(604) 484-2212
(604) 484-7143 (FAX)
Email: info@uraniumnorthresources.com
Website: http://www.uraniumnorthresources.com
