gsfl
13 years ago
Pinetree Capital Ltd. (TSX: PNP), announces that on January 16, 2012, it acquired ownership of 750,000 common shares (“Common Shares”) of Uranium North Resources Corp. (“Uranium North”) through the facilities of the TSX Venture Exchange representing approximately 0.9% of the total issued and outstanding common shares of Uranium North as of January 16, 2012. As a result of this transaction, Pinetree held, as at January 16, 2012, an aggregate of 8,500,000 common shares of Uranium North, including the Common Shares, and rights to acquire an additional 750,000 common shares of Uranium North upon exercise of certain convertible securities (the “Convertible Securities”). In the event that the Convertible Securities are fully exercised, the holdings of Pinetree represents a total of 9,250,000 common shares of Uranium North, or approximately 10.7% of all issued and outstanding common shares as at January 16, 2012, calculated on a partially diluted basis assuming the exercise of the Convertible Securities only.
This transaction was made for investment purposes and Pinetree could increase or decrease its investment in Uranium North depending on market conditions or any other relevant factor.
gsfl
14 years ago
Uranium North Stakes Additional Land at Mallery Gold / Silver Project and Prepares for Drilling
Vancouver, BC, May 4, 2011 – Uranium North Resource Corp. (TSX-V: UNR) announces that additional claims have been staked at the Mallery Stockwork gold / silver project in Nunavut. The new claims cover part of a significant new gold in till anomaly 3 kilometres south of the Mallery Stockwork which is scheduled for drilling in June, 2011.
The new gold in till anomaly is highlighted by a sample that contains 51 gold grains with the majority of grains being angular indicating a nearby bedrock source. This is the fourth largest gold grain anomaly on the property with the largest and similar anomalies occurring at the Mallery Stockwork.
“Our 2011 program will focus on drilling the Mallery Stockwork prospect. This new gold grain data extends our area of interest on the property and suggests a second mineralized trend or a southern extension of the Mallery Stockwork. In either event, we believe Mallery has the potential to be a large gold / silver bearing system,” states Mark Kolebaba, President and CEO of Uranium North Resources.
High gold and silver assays from surface grab samples of veins and volcanic rocks at the Mallery Stockwork prospect warrant core drilling in 2011. Values of interest from samples of quartz veins range from 1 g/T to 54 g/T gold. In addition, silver values are as high as 272 g/T (see news release dated October 14, 2010). A limited number of samples of the volcanic host rock have been analyzed, and gold values of interest in the range of 300 ppm to 2.19 g/T over 8 metre composite grabs have been returned (see news release dated February 1, 2011).
The company has funded an independent detailed review of the project which has led to the recommendation of several drill holes. Planning for a core drilling program is underway with an estimated June start date. Drilling will focus on high grade gold / silver quartz veins attempting to prove continuity between zones, determine grade and identify a large area with open pit potential.
The 100% owned Mallery Stockwork project is located 130 kilometres southwest of Baker Lake. The recently staked claims are pending approval by the Mining Recorder. The company has filed land use and water license applications and is awaiting final approval.
Bruce Kienlen, P.Geol and/or Graham Gill, P.Geo, are the Qualified Persons as defined by National Instrument 43-101 reviewing data for this project.
Uranium North is exploring five gold properties of which two are candidates for drilling. In addition, the company is planning an aggressive resource expansion program on its 100% owned Amer Lake uranium property.
For further information please contact:
Uranium North Resource Corp
Heather Kays Manager of Corporate Communications Tel: 604-719-3430 Fax: 604-484-7143 Email: info@uraniumnorth.com Web site: www.uraniumnorth.com
gsfl
14 years ago
Uranium North Completes $8.0 Million Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA, Feb. 9, 2011 (Marketwire) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Uranium North Resources Corp. (TSX VENTURE:UNR) (the "Company") announces effective February 8, 2011 it has closed the brokered private placement with its agent, BayFront Capital Partners Ltd. (the "Agent") for the sale of 6,423,685 flow-through shares ("Flow-Through Shares") at a price of $0.38 per Flow-Through Share for gross proceeds of $2,441,000 and 18,530,000 units ("Units") at a price of $0.30 per Unit for gross proceeds of $5,559,000. Included in the issuance was the Agent's fully exercised over allotment option of $4,000,000.
Each Unit is comprised of one common share and one-half of one share purchase warrant ("Warrants"). Each whole Warrant entitles the holder to purchase one common share for a period of 18 months at a price of $0.38 per share for the first 12 months of the term and $0.45 per share for the remainder of the term.
The Agent and members of its selling group were paid aggregate cash commissions of $450,000 and were also issued 1,418,274 warrants (the "Brokers' Warrants"), each Brokers' Warrant entitling the holder to purchase one Unit for a period of 18 months at a price of $0.30 per Brokers' Warrant.
The Flow-Through Shares, Units and Brokers' Warrants are subject to a statutory hold period expiring on June 9, 2011.
The Company intends to use the gross proceeds of the Flow-Through Shares for Canadian mineral exploration purposes and the net proceeds of the Units for mineral exploration and working capital.
About Uranium North
Uranium North Resources Corp. owns 100% interest in four drill ready gold/silver/copper projects and one gold/silver project. The company also owns four uranium projects including the Amer Lake project which contains a 19.3 million pound uranium resource.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba, President and CEO
gsfl
14 years ago
Uranium North Completes $8.0 Million Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA, Feb. 9, 2011 (Marketwire) --
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Uranium North Resources Corp. (TSX VENTURE:UNR) (the "Company") announces effective February 8, 2011 it has closed the brokered private placement with its agent, BayFront Capital Partners Ltd. (the "Agent") for the sale of 6,423,685 flow-through shares ("Flow-Through Shares") at a price of $0.38 per Flow-Through Share for gross proceeds of $2,441,000 and 18,530,000 units ("Units") at a price of $0.30 per Unit for gross proceeds of $5,559,000. Included in the issuance was the Agent's fully exercised over allotment option of $4,000,000.
Each Unit is comprised of one common share and one-half of one share purchase warrant ("Warrants"). Each whole Warrant entitles the holder to purchase one common share for a period of 18 months at a price of $0.38 per share for the first 12 months of the term and $0.45 per share for the remainder of the term.
The Agent and members of its selling group were paid aggregate cash commissions of $450,000 and were also issued 1,418,274 warrants (the "Brokers' Warrants"), each Brokers' Warrant entitling the holder to purchase one Unit for a period of 18 months at a price of $0.30 per Brokers' Warrant.
The Flow-Through Shares, Units and Brokers' Warrants are subject to a statutory hold period expiring on June 9, 2011.
The Company intends to use the gross proceeds of the Flow-Through Shares for Canadian mineral exploration purposes and the net proceeds of the Units for mineral exploration and working capital.
About Uranium North
Uranium North Resources Corp. owns 100% interest in four drill ready gold/silver/copper projects and one gold/silver project. The company also owns four uranium projects including the Amer Lake project which contains a 19.3 million pound uranium resource.
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba, President and CEO
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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14 years ago
Uranium North Resource Corp. Announces $4 Million Private Placement
Vancouver, BC, January 20, 2011 – Uranium North Resource Corp. (“Uranium North” or the “Company”) (TSX-V: UNR) is pleased to announce that it has entered into an agreement with BayFront Capital Partners Ltd. (the “Agent”) to act as agent for and on behalf of the Company, on a “best efforts” agency basis, without underwriter liability, in connection with a proposed private placement for aggregate gross proceeds of up to $4 million (the “Offering”). The Offering consists of the sale of flow-through shares (“Flow-Through Shares”) at a price of $0.38 per Flow-Through Share and/or units (“Units”) to be priced at $0.30 per Unit. Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one common share exercisable for a period of 18 months following the closing date at a price of $0.38 per share for the first 12 month of the term and $0.45 per share for the remainder of the term.
The Company will grant the Agents an option (the “Agent’s Option”), which will allow the Agent to sell an additional $3 million Flow-Through Shares and/or Units, pursuant to the Offering. The Agents’ Option shall be exercisable, in whole or in part, on or prior to the closing date.
The Company intends to use the gross proceeds of the Flow-Through Shares for Canadian mineral exploration purposes and the net proceeds of the Units for mineral exploration and working capital.
The securities issued pursuant to the Offering will be subject to a 4 month and one day statutory hold period. In connection with the Offering, the Agent will receive a cash commission and broker warrants. The broker warrants will be exercisable into units with the same terms as the Units for a period of 18 months following the closing date.
The offering is scheduled to close on or about February 8, 2011 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons as defined under applicable securities laws unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information please contact:
Uranium North Resource Corp
Heather Kays Manager of Corporate Communications Tel: 604-719-3430 Fax: 604-484-7143 Email: info@uraniumnorth.com Web site: www.uraniumnorth.com
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14 years ago
Reno Creek Environmental Baseline Studies on Schedule
Jan. 18, 2011 (Filing Services Canada) -- Bayswater Uranium Corp. (BYU - TSX Venture, BYSWF - OTCBB_Pink_Sheets), reports that the Company has made significant progress in its environmental baseline studies at its Reno Creek Uranium Project in Campbell County, Wyoming. Following are the highlights of the extensive ongoing program:
* Twenty-five of the initially planned forty-four monitoring wells have been completed and are operational. The balance of the wells will be drilled and developed early in 2011.
* Monitoring well data has confirmed that the sandstone ore horizon is physically confined above and below by shale across the entire project area.
* One pump test has been successfully completed and the data is being analyzed. The pump tests are designed to document that pumping in the ore body sandstone does not cause any hydrologic communication with the overlying and underlying aquifers and to provide hydrologic data that is used for the design of production and restoration operations.
* 2011 first quarter ground water samples, surface water and sediment samples have been collected and are in the laboratory for analysis.
* An on-site meteorological station has been installed and a full quarter of data obtained.
* Five air quality monitoring stations have been installed and a full quarter of data acquired.
* Vegetation and soils mapping are nearly completed, and are expected to be complete in the spring of 2011.
* Archaeological surveys have been completed. All 41 previously recorded cultural resource sites identified on the Reno Creek project had been evaluated as not eligible for the National Register of Historic Places (NRHP), and files indicate State Historic Preservation Office concurrence for all previously recorded sites. All 37 newly recorded localities are also evaluated as not eligible for the National Register.
* Wildlife surveys are more than 80% complete. The survey documented the absence of sage-grouse in the entire project area, as well as the absence of any threatened or endangered species.
* Wetlands mapping is more than 90% complete, and should be finished during the spring of 2011.
* The baseline radiological survey, including soil and vegetation sampling, is 90% complete, and will be completed by summer of 2011.
During October 2010, the Company successfully completed its first quarterly meetings with the Nuclear Regulatory Commission (NRC) and the Wyoming Department of Environmental Quality (WDEQ) to provide an update on the progress of activities, discuss initial findings of the baseline studies, and affirm that the baseline program continues to meet the needs of both agencies for their review of future permit applications. The Company confirmed that it plans to submit its application to the NRC for a Source and Byproduct Material License and its application to the WDEQ for a mine permit by the end of 2011.
During 2010, drilling of monitoring and observation wells located both inside and outside of known resource areas led to the following results pertaining to the known mineralized areas and their potential expansion on the project:
i) Holes confirmed mineralization within resource areas as identified from historical drilling by Rocky Mountain Energy and others; and
ii) Some of the monitoring and pump test wells, located outside of known mineralized areas, intersected significant new mineralization.
When above well drilling is completed in the first part of 2011, the data from all monitoring and observation wells will be integrated into the project database for additional resource evaluation. Mineralized intercepts outside of known resource areas indicate the potential for additional resources and are listed in the table below.
LISTING OF SIGNIFICANT INTERCEPTS GRADING 0.01% eU3O8 or HIGHER- 2010 DRILLING PROGRAM
Drilling Outside of Known Resource Areas at Reno Creek
-------------------------------------------------------------------------
Well ID Date of Depth to Intercept Intercept Intercept
Geophysical Intercept Thickness Grade % GT
Log Top (feet) (feet) eU3O8
-------------------------------------------------------------------------
PZM5 08/12/10 241.5 10.5 0.052 0.546
PZM1 10/11/10 312.5 6.0 0.028 0.168
PZM8 09/20/10 306.0 12.0 0.041 0.492
325.5 3.5 0.025 0.088
334.0 6.5 0.086 0.559
PZM9 09/24/10 313.0 7.0 0.031 0.217
338.5 1.0 0.018 0.018
PZM10 10/01/10 303.0 12.0 0.079 0.948
331.0 5.0 0.018 0.090
UM1 10/06/10 299.0 7.0 0.037 0.259
316.0 3.0 0.019 0.057
336.5 21.5 0.124 2.666
Includes this
higher grade
interval at
336.5: 6.5 0.332 2.158
PZM4 11/09/10 234.0 2.0 0.016 0.032
259.0 5.5 0.024 0.132
PZM19 12/07/10 311.0 3.5 0.013 0.046
-------------------------------------------------------------------------
Note: PZM = Resource Host Sandstone Monitoring Well; UM = Underlying Aquifer Sandstone
Monitoring Well. All uranium mineralization as noted above is in the known resource host sandstone.
The Company plans to carry out a more extensive drilling program during 2011, in addition to completing the environmental baseline studies and preparation of permit applications. The drilling program, to be permitted during the first quarter of 2011, will include a combination of confirmation and extension drilling in selected portions of the project-including areas of new mineralization encountered in the 2010 program, plus coring of the host sandstones in resource areas for metallurgical and engineering testing to support the applications for permits to the NRC and WDEQ. During 2011, the Company will develop plans to commence drilling and environmental baseline activities in its Pine Tree trend, which are planned to start early in 2012. Bayswater and Pacific Road Resources Funds, our investment partner in Reno Creek, have agreed to a budget of approximately $7.0 million for the 2011 project.
Upon completion of data collection, compilation and analysis for baseline studies, the Company intends to assemble and submit its applications to the NRC and the WDEQ. The Company has carefully studied both the evolving permitting processes and the experiences of Ur-Energy, Uranium One, Uranerz, and Powertech over the past four years, including a detailed review of all of the Requests for Additional Information (RAI) issued by the NRC and WDEQ and the Environmental Impact Statements for each project. Now that licenses and permits are being granted by the agencies, it is possible to use this information and the Company's own detailed discussions with the NRC and WDEQ respective staffs to assure that its application documents contain required information. The Company anticipates that this effort could improve the efficiency of agency review and substantially reduce the time required for receipt of permits. Bayswater's previously announced schedule anticipated that it will be in a position to commence a feasibility study in early 2013 with construction development to follow once completed and be in production by 2015. The Company now believes that all phases of the Project, including the permitting time-line, may be significantly shortened.
Pursuant to the investment agreement and shareholders agreement dated April 7, 2010 (the "Agreements") involving Pacific Road Resources Funds ("PRRF") (see news release April 7, 2010), the Company was obliged to fund the special purpose entity ("Newco"), which holds the Reno Creek Uranium Project, with US$7,000,000 and pay certain fees to PRRF on or before December 1, 2010. To date, such funding and payment of fees has not occurred. On January 5, 2011, PRRF and the Company entered into an amending agreement in respect of the Agreements whereby PRRF funded the first quarter 2011 Newco budget in an amount of US$1,750,000 and, as a result, the interest held by Bayswater in Newco has been reduced to 21.3% from 23.1% and the maximum interest the Company may now earn in Newco has been reduced from 50.0% to 45.13%. The parties are proceeding on the basis that the Company shall fund the remaining amount of the 2011 Newco budget, being US$5,250,000 plus certain fees before March 1, 2011, notwithstanding the right of PRRF to complete such funding and convert certain fees into shares in Newco. The Company is using its best efforts to secure such funding before March 1, 2011.
Pursuant to the Agreements as amended, PRRF continues to be entitled to convert its investment in Newco into common shares of the Company at any time up to six months following the later of completion of a feasibility study or receipt of all requisite mining permits, but in any event not later than within five years of acquisition of the Property as previously reported. On conversion, PRRF's investment in Newco will be converted into common shares of the Company, pursuant to prescribed formulas as previously described in the Company's news release dated March 3, 2010. At that time Bayswater will own a 100% interest in Newco which holds the Reno Creek property.
For operational efficiencies, employees, consultants and contractors of NCA Nuclear Inc., a wholly owned subsidiary of Bayswater, who have been working on the Reno Creek Project, have been transferred over to AUC LLC, the limited liability company that owns the Project and of which the only shareholders are PRRF and Bayswater, effective January 1, 2011. Jim Viellenave will act as Project Manager on the Reno Creek Project and will continue as the General Manager-US Operations for Bayswater. Bayswater has assembled a highly effective and experienced management team for Reno Creek that will now operate directly within AUC LLC and report to the board of AUC LLC.
In other news, the Company reports that due to permitting delays, it has relinquished its option to acquire an 80% interest from Uranium North Resources in certain exploration permits and claims located in the South Thelon Basin of the NWT, Canada. Bayswater continues to hold varying interests in 714 claims aggregating 1,454,510 acres in this region which cover a number of prospective drill targets for future testing.
About Bayswater Uranium Corporation - The Super Junior Uranium Company TM
Bayswater Uranium Corporation is an international uranium exploration and development company. The Company owns several advanced uranium properties in the United States with significant NI 43-101 compliant and historical resources that may be amenable to ISR and/or conventional mining. With the acquisition of the Reno Creek Property, WY, the Company's focus is to develop Reno Creek to production in the shortest time frame possible. The Company's Elkhorn/Alzada Project, located approximately 100 miles northeast of Reno Creek, is being advanced as a complementary or stand alone project for future potential production. As well, Bayswater is the only uranium company to have strategic landholdings in each of Canada's most important producing and exploration regions - the Athabasca Basin, the Central Mineral Belt, and the Thelon Basin. Bayswater combines a balanced portfolio of advanced and exploration projects with the uranium expertise of its technical and managerial teams. To capitalize on current market conditions and strong growth of the nuclear industry, the Company will continue to pursue acquisition opportunities of advanced-stage uranium projects with production potential. Bayswater's vision is to build a major international uranium company. Shares of the Company are listed on the TSX Venture Exchange under the symbol "BYU". For further information visit www.bayswateruranium.com.
About Pacific Road Resources Funds and Pacific Road Capital Management Pty Limited
The Pacific Road Resources Funds are private equity funds investing in the global mining industry. They provide expansion and buyout capital for mining projects, mining related infrastructure and mining services businesses located throughout resource-rich regions of the world. The Pacific Road Resources Funds are managed and advised by Pacific Road Capital Management Pty Ltd ("PRCM"). The PRCM team, located in Sydney, Australia, San Francisco and New York, USA, is comprised of experienced mining investment professionals that have extensive knowledge and experience in the mining and infrastructure sectors, including considerable operating, project development, transactional and investment banking experience. For further information on the Pacific Road Resources Funds and PRCM, please go to their website at www.pacroad.com.au.
On behalf of the Board of:
BAYSWATER URANIUM CORPORATION
George M. Leary
President
For further information contact:
John Gomez
Manager, Investor Relations
Telephone: (604) 687-2153
gsfl
14 years ago
Uranium North Identifies New High Gold and Silver Project within the Aura Permits
VANCOUVER, BRITISH COLUMBIA, Nov. 17, 2010 (Marketwire) -- Uranium North Resources Corp. (TSX VENTURE:UNR) introduces the 100% owned AN project within the Aura Consolidated Gold permits in Nunavut. Historical surface rock samples at AN yielded high gold, silver and copper including reports of one sample assaying 72 g/T gold, 1193 g/T silver and 6.9% copper.
"The AN project is one of five 100% owned advancing gold/silver projects recently acquired by the Company. These projects along with the company's advanced uranium projects allow the shareholders to participate in the gold, silver and energy markets," says Mark R. Kolebaba, President and CEO of the Company.
The mineralization at AN appears to be related to a lithological/structural unit that is estimated to extend for a minimum of 5 kilometres. According to historical reports only 400 metres of this structure has been tested with 25 surface rock samples.
Of the 25 historical rock samples reported, 18 contained high concentrations of gold, copper and/or silver. The area with high grade gold, silver and copper was tested in the late 1970's with a single hole drilled to a total depth of 40 metres. After review of related data and recognition of the high grade metal content, the Company has concluded that the project was insufficiently tested and warrants further exploration. The table below highlights selected samples.
------------------------------ -----------------------------------------
Sample Au g/T Ag g/T Cu% Sample Au g/T Ag g/T Cu%
------------------------------ -----------------------------------------
1 71.45 1193.11 6.88 8 0.41 40.29 0.7
------------------------------ -----------------------------------------
2 4.8 991.17 2.7 9 0.62 3.43 less than 0.1
------------------------------ -----------------------------------------
3 4.25 1561.1 0.79 10 0.1 8.3 0.028
------------------------------ -----------------------------------------
4 1.92 39.09 0.386 11 less than 0.1 13.23 less than 0.1
------------------------------ -----------------------------------------
5 1.2 11.28 0.34 12 less than 0.1 6.82 less than 0.1
------------------------------ -----------------------------------------
6 1.03 170.4 0.179 13 less than 0.1 3.94 less than 0.1
------------------------------ -----------------------------------------
7 0.62 73.99 0.552 14 less than 0.1 2.47 less than 0.1
------------------------------ -----------------------------------------
Plans for the AN project include detailed prospecting and sampling of the known mineralized area in preparation for drilling. Regional prospecting along the extension of the lithological /structural unit will be completed in an attempt to identify additional areas with mineralization. The AN project is strategically located 10 kilometres north of F13 and 20 kilometres south of Robin, two other gold / silver projects owned by the Company. Work on all three projects will be completed under the unified Angikuni Lake project resulting in lower overall exploration costs.
About Uranium North
Uranium North owns 100% interest in five gold, silver and copper projects and three advanced uranium projects. The Amer Lake uranium deposit is one of the largest NI 43-101 uranium resources in Nunavut.
The historical work reported in assessment files has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality. The site was visited by Qualified Persons Linda Erdman (P.Geo.) and Geoff Goodall (P.Geo.).
On behalf of Uranium North Resources
Mark Kolebaba President and CEO
gsfl
14 years ago
Uranium North Identifies Zones with High Gold Assays on Robin Property
VANCOUVER, BRITISH COLUMBIA, Nov. 4, 2010 (Marketwire) -- Uranium North Resources Corp. (TSX VENTURE:UNR) announces high gold and copper results on its 100% owned Robin prospect located within the Aura Consolidated Gold project in Nunavut. Samples assayed as high as 11.75 g/T gold and 2.18% copper. In addition, Uranium North has extended the historical zone of mineralization to 2.6 kilometres from 1.8 kilometres as a result of prospecting.
"These are very promising results for a first pass prospecting program. This is especially so considering the mineralization appears to be along a continuous gold bearing structure. There are no historical reports confirming prior gold exploration on the property," says Mark Kolebaba, President and CEO of Uranium North Resources.
Mineralization at Robin appears to be related to quartz veins and granitic rocks along a north south trending structural linear feature. A total of 52 rock samples were collected along the trend with results clearly demonstrating that the entire structure is gold bearing and several areas containing high grade assays have been identified. Six areas along the trend yield samples assaying 1.0 g/T to 11.75 g/T Au. These areas are considered immediate high interest for follow up exploration. In addition, 16 samples along the structure contain gold ranging from 0.1 to 0.746 g/T Au and 20 samples assaying 20 to 100 ppm Au that will require additional prospecting and more detailed sampling.
Sampling in 2010 also confirms the presence of significant copper mineralization with 2 samples assaying 1.9% and 2.2% Cu and nine samples ranging between 0.1% to 0.6% Cu. Other elevated metals identified on the property include silver and lead. Silver assays ranging from 1.0 to 16.2 g/T Ag were observed in 16 samples and lead assays ranging from 0.14% to 1.14% Pb were observed in 4 samples.
The 2010 prospecting program was conducted to confirm historically reported gold, copper and silver mineralization on the property. An unconfirmed surface sample with 0.55 oz/ton (18.9 g/T) Au, 1.56 oz/ton (53.5g/T) Ag, and 9.91% Cu was reported to have come from the property in 1964, however a location for the sample was not provided. Although this sample site was not located, the new sites with gold, silver and copper confirm the potential of the property.
A review of geochemistry from soil samples collected at Robin and a detailed structural analysis of the property will be completed prior to planning the 2011 exploration program.
About Uranium North
Uranium North Resources Corp. has generated and advanced 6 gold properties in central Nunavut. The Company also owns 100% of the 19.3 million lb Amer Lake uranium deposit, one of the largest compliant NI 43-101 uranium resources in Nunavut.
Linda Erdman, P.Geo., and Geoffrey Goodall, P.Geo., are responsible for the design and execution of the 2010 program and have reviewed historical reports for the property. The historical work has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality in comparison with the 2010 data. Bruce Kienlen, P.Geol., is the Qualified Person as defined by National Instrument 43-101, reviewing the 2010 lab results.
2010 sample results described in this news release were grab samples collected to determine the presence or absence of gold mineralization. The results should not be interpreted as being representative of average grades. Samples were prepared and analyzed at ALS Canada Ltd. 30 grams of each pulverized sample were analyzed by multi-element four acid ICP-AES. Samples with greater than 10 g/T gold were re-analyzed with AA finish.
On behalf of Uranium North Resources
Mark Kolebaba, President and CEO
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp. (the "Company") expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Uranium North Resource Corp. Corporate Communication 604 - 484 - 7120 604 - 484 - 7143 (FAX) info@uraniumnorth.com www.uraniumnorth.com
gsfl
14 years ago
Uranium North Awaits Assay Results from the Aura Consolidated Gold Project
VANCOUVER, BRITISH COLUMBIA, Oct. 26, 2010 (Marketwire) -- Uranium North Resources Corp. (TSX VENTURE:UNR) provides an update of the Aura consolidated gold project. During the 2010 field season, a total of 190 rock samples, 372 soil samples, and 77 heavy mineral till samples were collected on exploration permits and claims including the F13, Robin and Nowyak projects. Assays are pending and will be released upon receipt and review.
"A lot of data was collected this year to assess the gold potential of this area and to initiate planning for an extensive drill program in early 2011. We expect to be receiving and reviewing a high volume of assay data over the next few weeks and I look forward to reporting these results to the shareholders," says Mark Kolebaba, President of Uranium North Resources.
The Aura Consolidated Gold Project encompasses numerous gold prospects within exploration permits and mineral claims spanning an 80 x 40 kilometre area. The Company is currently focused on three main prospects which are briefly described below.
F13 Project
At F13 results for 43 rock and 223 soil samples are pending. The samples were collected to assess historic results and to determine control factors for high grade gold, silver and copper mineralization. Gold, copper and silver mineralization with iron carbonate alteration is reported to extend over an area 1 x 1 kilometre. Results from historical trenches located on the property assay up to 4.9 oz/ton (168.0 g/T) Au, 1.59 oz/ton (54.5 g/T) Ag and 21.4% Cu.
Robin
At Robin results for 50 rock and 149 soil samples are pending. The Robin copper, gold and silver prospect was reported as a 60 to 200 metre wide gossanous boulder and outcrop zone extending for 1.6 kilometres. Historical surface sample results reported assays up to 0.55 oz/ton (18.9 g/T) Au, 1.56 oz/ton (53.5g/T) Ag, and 9.91% Cu. The 2010 prospecting program was conducted to confirm the presence of gold, copper and silver mineralization, determine the extent and identify possible drill targets.
Nowyak
At Nowyak, results for 55 rock samples are pending. Nowyak is centered over an intense 40 to 80 metres wide sericite - carbonate - pyrite altered shear zone that extends for 20 kilometres. The 2010 exploration program was conducted to confirm high grade gold and silver mineralization. Several high grade gold bearing zones have been reported along part of the structure. Historical highlights reported for these zones include:
1) 8.62 g/T gold from 2 metres of drill core
2) 35.5 g/T gold with, 172 g/T silver
3) 117 g/T gold with 1420 g/T silver
4) 88.8 g/T gold over 1 metre
5) 51 g/T gold over 2 metres
Prospecting Permits
A total of 43 rock and 77 heavy mineral till samples were collected on the Exploration Permits. These results will help track gold grains in till back to new bedrock sources. These results are pending and will be used to track gold grains in till to new bedrock sources.
About Uranium North
Uranium North Resources Corp. has generated and advanced 6 gold properties in central Nunavut. The Company also owns 100% of the Amer Lake uranium deposit, one of the largest uranium resources in Nunavut.
Linda Erdman, P. Geo and Geoffrey Goodall, P. Geo are responsible for design and execution of the 2010 program and have reviewed historical reports for the property. The historical work has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality in comparison with the 2010 data.
On behalf of Uranium North Resources
Mark Kolebaba, President and CEO
subtlerise
14 years ago
Uranium North Reports High Gold and Silver at Mallery, Drill Targets Identified
10/14/2010 @ 11:56AM
Uranium North Resources Corp. (TSX VENTURE: UNR) announces results from its first phase 2010 exploration program on the Mallery Stockwork. Samples collected from the Mallery Stockwork have identified and confirmed several zones with high grade gold and silver. At least three high priority drill target areas have been identified. The Mallery Stockwork is located on the Mallery Lake Property in Nunavut.
Of the 31 grab sample assays received to date from the Mallery Stockwork, 16 samples assayed between 0.854 g/T Au and 54.2 g/T Au, only three samples contain less than 0.100 g/T Au. The sample containing 54.2 g/T Au also contains 272 g/T Ag.
"These initial results have identified 3 priority target areas with high gold and silver assays that are candidates for follow up drilling. The sampling has confirmed the presence of mineralized zones exposed intermittently over 700 metres laterally. This supports the potential for Mallery to host an extensive high grade gold and silver system," says Mark Kolebaba, President and CEO of the company.
Results for an additional 77 rock and over 200 soil samples are pending for the Mallery property.
Detailed Descriptions of Drill Target Areas
The Mallery Stockwork comprises gold and silver bearing quartz veins. The stockwork is exposed in three areas, a North Central, an Eastern, and a Western zone. All surrounding areas are thinly covered by overburden therefore mineralization remains open in all directions. Initial results from the 2010 sampling program have outlined drill target areas in all three zones.
At the North Central Zone, gold and silver bearing quartz veins occur over an exposed area of 150 by 200 metres before going under overburden. Historical values range from under 1 g/T Au to 5.55 g/T Au. Sampling in 2010 has identified new quartz veins on the west side of the zone one of which, a 0.15 metre vein, assayed 33.7 g/T Au and 27.3 g/T Ag. This is of particular interest as it may indicate increased gold and silver content westward from this showing.
Rock samples from the Eastern Zone highlight an area with high gold and silver assays up to 54.2 g/T Au and 272 g/T Ag. In addition, several discrete areas with angular gold bearing quartz boulders occur intermittently over 30 metres. The Eastern Zone is 250 metres east of the North Central Zone.
Rock samples from the Western Zone yield high gold and silver values up to 8.6 g/T Au and 6.7 g/T Ag from a 2.9 metre wide quartz vein. A second vein assayed 2.91 g/T Au and 10.7 g/T Ag. The second vein is of note as it appears to contain gold and silver at a ratio of 1:4 as observed at the Eastern Zone which is currently the highest priority drill target on the property. The Western zone is located 300 metres southwest of the North Central Zone and 700 metres west of the Eastern Zone.
The table below highlights assays of interest from each zone. Please refer to our website for a map and table of full results.
North Central Zone Eastern Zone Western Zone
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Sample Au g/T Ag g/T Sample Au g/T Ag g/T Sample Au g/T Ag g/T
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UNR1 54.2 272 UNR6 33.7 27.3 UNR7 8.60 6.7
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PD7 24.2 110 PD1 5.55 NA UNR8 2.91 10.7
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UNR2 6.52 24.5 PD2 3.10 NA PD9 4.45 NA
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UNR3 6.72 25.5 PD3 2.28 NA PD10 2.21 NA
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UNR4 3.64 14.9 PD4 2.14 NA PD11 1.45 NA
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UNR5 1.395 2.30 PD5 2.50 NA
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PD8 4.84 NA PD6 1.62 NA
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UNR - Uranium North 2010 grab samples
PD - Phelps Dodge 1990's grab samples
About Uranium North
Uranium North Resources Corp. has generated and advanced 6 gold properties in central Nunavut. The Company also owns 100% of the Amer Lake uranium deposit, one of the largest uranium resources in Nunavut.
Linda Erdman, P. Geo and Geoffrey Goodall, P. Geo are responsible for design and execution of the 2010 program and have reviewed historical reports for the property. The historical work has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality in comparison with the 2010 data. Graham Gill, P.Geo, is the Qualified Person as defined by National Instrument 43-101, reviewing the 2010 lab results. 2010 sample results described in this news release were grab samples collected to determine the presence or absence of gold mineralization. The results should not be interpreted as being representative of average grades. Samples were prepared and analyzed at ALS Canada Ltd. 30 grams of each pulverized sample were analyzed by multi-element four acid ICP-AES. Samples with greater than 10 g/T gold were re-analyzed with AA finish.
On behalf of Uranium North Resources
Mark Kolebaba President and CEO
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp (the "Company") expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Contacts:
Uranium North Resources Corp.
Heather Kays
Corporate Communications
604-484-7120
604-484-7143 (FAX)
info@uraniumnorth.com
www.uraniumnorth.com
EnergyGuy62
14 years ago
Uranium North Begins Preliminary Work On Aura Property
Vancouver, August 18, 2010 - Uranium North Resources Corp (UNR -- TSX-V) has commenced its 2010 exploration program on the 100% owned Aura Gold project located in Nunavut. This program is designed to develop drill targets on the Robin, F13 and Nowyak zones. The program will focus on mapping, prospecting and sampling over these areas with known mineralization to determine control factors for high grade gold, silver and copper. In addition, the program will attempt to identify new zones of mineralization on the property where gold grain in till anomalies exist.
"I think we have a real opportunity in front of us. Projects like F13, Robin and Nowyak have high grade gold, silver and copper and have either not been systematically explored or have only seen minimal work activity. This is an opportunity for the company to create value over a short period of time at low cost to shareholders" says Mark Kolebaba, President of Uranium North Resources.
The Aura property comprises the Robin, F13 and Nowyak projects as well as large unexplored areas with gold grain anomalies in till. The Robin and F13 prospects were previously targeted for copper and nickel in 1964 and not for gold. Historical trenching results from Robin reported assays up to 0.55 oz/ton (18.9 g/T) Au, 1.56 oz/ton (53.5g/T) Ag, and 9.91% Cu. At F13, gold mineralization discovered in trenches assayed up to 4.9 oz/ton (168.0 g/T) Au, 1.59 oz/ton (54.5 g/T) Ag and 21.4 % Cu.
At the Nowyak showing prospecting and drill samples yielded high gold values including a sample that assayed 117g/T Au and 1420 g/T Ag. This is an extensive structure with gold mineralization and is believed to be underexplored, creating a great opportunity for the company.
Linda Erdman, P. Geo and Geoffrey Goodall, P. Geo are responsible for design and execution of the 2010 program and have reviewed historical reports for the property. The historical work has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality.
About Uranium North
Uranium North Resources Corp. is a Canadian company with a Nunavut focus. Uranium North holds title to the second largest uranium resource in Nunavut, the Amer Lake Deposit. While maintaining its focus on uranium, the company has initiated exploration for gold on 3 projects.
On behalf of Uranium North Resources
Mark Kolebaba President and CEO
Uranium North Resource Corp
Corporate Communication- Heather Kays
Tel: 604 - 484 - 7120
Fax: 604 - 484 - 7143
Website: www.uraniumnorth.com
Email: info@uraniumnorth.com
EnergyGuy62
14 years ago
Uranium North's Mallery Lake Gold Exploration Program Underway
3:53 PM ET, July 15, 2010
VANCOUVER, BRITISH COLUMBIA, Jul 15, 2010 (MARKETWIRE via COMTEX) -- Uranium North Resources Corp. (UNR) announces the Phase 1 Mallery Lake exploration program is underway. The Mallery Lake property is located in Nunavut and is 100% owned by the Company. The property hosts two known gold bearing structures one of which, the Mallery Stockwork, has yielded up to 24.62 g/t Au and 110 g/t Ag and has never been drill tested. Proprietary till sample data suggests gold mineralization in the area is more widespread.
The Company's phase 1 exploration program is designed to identify high priority drill targets for an anticipated 5 to 10 hole phase 2 drill program planned to start in early August. Work to be carried out includes prospecting, rock chip sampling and soil sampling over the known Mallery Stockwork structure. The Stockwork consists of numerous quartz veins up to 20 metres wide within rhyolite.
Mineralized bedrock exposure at the Mallery Stockwork has been mapped intermittently over an area of more than 700 by 500 metres suggesting possibility for at least three east-west trending mineralized zones. This limited bedrock mapping along with coincident subtle geophysical and geochemical soil anomalies demonstrates potential for continuity of the structure for more than 800 metres. The structures are open to the east and west and additional structures to the north and south may exist. The 24.6 g/t Au, 110 g/t Ag sample is located on the most easterly structure.
"Mallery Lake has the potential to be a very significant gold system. Gold mineralization occurs over an extensive area, zones of high grade gold and silver exist and we predict geological continuity based on geophysical and geochemical data. As a drill ready project, I believe this is an amazing opportunity for the Company," says Mark Kolebaba, President and CEO.
An abundance of angular gold grains recovered from till samples up ice of the Mallery Stockwork structure indicate potential for numerous other undiscovered gold bearing structures on the property.
The Mallery Lake Gold prospect was discovered by Phelps Dodge in 1996 with an initial discovery sample of 1 g/t over 10 metres. Subsequently, Phelps Dodge merged with Freeport McMoran and their original mineral claims were allowed to lapse. Other significant historical gold assay values include grab samples ranging from approximately 2 to 5 g/t and several chip samples over 0.3 to 5 metre intervals ranging from approximately 2.2 to 14 g/t and as high as 24.62 g/t.
Bruce Kienlen, P.Geol, is the Qualified Person as defined by National Instrument 43-101, responsible for collection of the till samples on the project and has reviewed and approved the technical information relating to the till samples in this release. Linda Erdman, P. Geo has reviewed historical reports for the property. The historical work has not been verified by the Company, however, it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality.
On behalf of Uranium North Resources
Mark Kolebaba, President and CEO
Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp (the "Company") expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
Contacts:
Uranium North Resource Corp.
Heather Kays
Corporate Communication
604-484-7120
604-484-7143 (FAX)
info@uraniumnorth.com
www.uraniumnorth.com
EnergyGuy62
15 years ago
Uranium North Acquires Gold Project With Historic Assays Up to 117 g/t Au and 1420 g/t Ag 8:31 AM ET, March 24, 2010 VANCOUVER, BRITISH COLUMBIA, Mar 24, 2010 (MARKETWIRE via COMTEX) -- Uranium North Resources Corp. (UNR) announces that it was awarded 13 prospecting permits totaling 585,326 acres forming the 100% owned Aura consolidated gold property in Nunavut. The property includes several gold grain anomalies in till where bedrock sources have not yet been determined. The property also includes historical bedrock gold occurrences as well as boulders with up to 117 g/T Au and 1420 g/t Ag. The boulders are not believed to have been traced to a bedrock source. The gold grain anomalies were identified by the Company from till samples collected over an area spanning 65 by 30 kilometres. Angular gold grains near geological contacts and structures prospective for gold, suggest that the undiscovered bedrock sources are nearby. In addition to the gold grain anomalies, several under-explored historic gold prospects occur in the area. (See Map at http://www.uraniumnorth.com/s/Aura.asp) "We believe that we have delineated a very large, essentially unexplored gold district in Nunavut. 100% ownership of this vast area with anomalous gold in till tied together by surrounding high grade bedrock occurrences is a very exciting opportunity for the Company. Rapidly advancing large land packages at low cost in this environment is what we do well," says Mark Kolebaba, President and CEO of Uranium North. Historic Bedrock Gold Occurrences The most easterly permit is host to the historic Nowyak gold property where a composite sample of boulders assayed 117g/T Au and 1420 g/T Ag. It is believed that two limited exploration programs in 1998 failed to locate the source of the boulders however, several other high grade bedrock intercepts were identified (See table 1 below). Table 1: Historic Nowyak gold results -------------------------------------------------- Occurrence?????g/t Au?????Metres??????Sample -------------------------------------------------- 1????????31.0????????2.0???????Channel -------------------------------------------------- 2????????8.62?????????2.0???????Core -------------------------------------------------- 3????????9.33?????????1.7???????Core -------------------------------------------------- 4????????5.44?????????1.6???????Core -------------------------------------------------- 5????????2.67?????????4.0???????Core -------------------------------------------------- 6????????2.68?????????1.5???????Core -------------------------------------------------- 7(i)????????4.26????????0.7???????Chip -------------------------------------------------- (i) also contains 71.8 g/T Ag, A grab sample yielded 172 g/T Ag from a ????separate occurrence ????True Widths of samples unknown ? Just off the western side of the main permit block is historical showing F13 where two zones with mineralization in felsic volcanic tuffs were outlined in 1964. Assays from trenches at Zone One, which has a strike of 400 metres, yielded values up to 4.9 oz/ ton (168 g/T) Au, 1.59 oz/ton (54.51 g/T) Ag and 21.4 % Cu. Available assay data is shown in Table 2 below and samples from trenches 1, 3, 4, 6, Inco1 and 2 are from zone 1 at the F13 showing. Table 2: Historic assay results for F13 showing ----------------------------------------------------------- ???Gold???Gold????Silver????Silver????Copper Sample????(oz/ton)????(Grams/tonne)????(oz/ton)???(grams/tonne)?????????(%) ----------------------------------------------------------- Trench 1???0.11???3.77???0.03???0.86????2.02 ----------------------------------------------------------- Trench 3???0.06???2.06???0.12???4.11????21.4 ----------------------------------------------------------- Trench 4???0.88???30.17???0.41???14.06???12.12 ----------------------------------------------------------- Trench 6???4.90???168.0???1.59???54.51???17.6 ----------------------------------------------------------- Trench 6???3.64???124.8???1.18???40.46???14.0 ----------------------------------------------------------- Inco 1???1.82???62.40???0.76???26.06???10.98 ----------------------------------------------------------- Inco 2???0.66???22.63???0.26????8.91????5.46 ----------------------------------------------------------- Trench 8???0.25???8.57???0.11???3.77????5.83 ----------------------------------------------------------- QCP????0.5????17.14????0.22????7.54????0.25 ----------------------------------------------------------- CP????0.94????32.23????0.42????14.4????0.16 ----------------------------------------------------------- Original historical data reported in ozs/ton and converted to grams/tonneby the Company using conversion factor of 34.2857. Historic sample intervalsnot reported. ? Asecond zone, Zone Two at F13 showing, is outlined by EM geophysics and is represented by the sample from Trench 8. Samples QCP and CP were also collected from the property, and reported high grade gold values of 17.14 g/T and 32.23 g/T respectively. A third historical showing, just north of the permit block, the Robin showing, reports occurrences along a 60 metre wide gossanous boulder field that extends for more than 1900 metres and is believed to be related to a shear zone. The area reported assays up to 0.55 oz/ton (18.86 g/T) Au, 1.56 oz/ton (53.49 g/T) Ag, and 9.91% Cu. Bruce Kienlen, P.Geol, is the Qualified Person as defined by National Instrument 43-101, responsible for the till samples collected on the project. The historical work has not been verified by the Company however, Graham Gill, P.Geo, has reviewed the data and it appears to have been completed under standard best practices consistent with the time and appears to be of reasonable quality. On behalf of Uranium North Resources Mark Kolebaba, President and CEO Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp (the "Company") expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. "Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." Contacts: Uranium North Resource Corp. Heather Kays Corporate Communication 604-484-7120 604-484-7143 (FAX) info@uraniumnorth.com www.uraniumnorth.com