======================================================================
News Release - Thursday, June 28, 2007
Uranium North Acquires Claims Over Boulder Yielding 38% U3O8 And
Provides Update For South Baker Property
======================================================================
Vancouver, June 28, 2007 --Uranium North Resources Corp (UNR - TSX V)
announces that it has acquired the JG property immediately north of the
Company's South Baker property in Nunavut within the Thelon Basin
region. The claims were staked over high grade uranium mineralized
boulders ranging from less than 0.1% to 38% U3O8. The JG claims have
been amalgamated with the South Baker property. A geophysical survey
has been commissioned over the entire 100% owned South Baker property
including the recently staked JG claims.
The South Baker property covers more than 10 historic uranium
prospects. After recently completing a comprehensive and detailed
review of historic data for the prospects, seven of the prospects have
been selected for detailed follow-up in 2007.
"The South Baker area has become a very interesting project. On a
conceptual basis, Uranium North is targeting South Baker as a strong
candidate for discovering a Kiggavik- type uranium deposit," says Mark
Kolebaba, President and CEO of Uranium North Resources.
The South Baker project is located 300 kilometres south of Areva
Resources Canada Inc's 147 million lb Kiggavik uranium deposit. The
Areva resource is comprised of six structurally controlled deposits and
is currently the subject of a feasibility study. Uranium North notes
with interest that 67% of the contained pounds of U3O8 at Kiggavik were
found in the period 1986-1988, well after the last uranium boom as the
structural controls on mineralization became better understood. The
Company is of the opinion that a detailed focus on the structural
setting associated with these historic uranium occurrences on South
Baker will yield some very attractive targets for Kiggavik-style
deposits.
The prospects on the South Baker property were originally discovered as
a result of boulder prospecting. Based on historic data review, it
appears that the drilling was designed to target bedrock sources of
mineralized boulders found in glacial till, with little to no
consideration for possible structural controls on mineralization.
Uranium North's 2007 exploration program will be designed to identify
drill targets associated with structural features that could control
mineralization around each of the prospects. Plans include digital
re-construction of previous drill hole data, airborne geophysical
surveying, and detailed prospecting and mapping to define drill
targets.
Highlights - Prospects selected for immediate follow-up
.. Hawk - 0.20% and 0.19% U3O8 over 23 m and 15 m of drill core
respectively
.. SW Hawk - 0.25% and 0.07% U3O8 over 1 m and 2.2 m drill core
respectively
.. L1 - 0.39% U3O8 over 4.45 m of drill core and 0.89% U3O8 over 2.5 m
in surface trench
.. KAM - Boulders with up to 5% U3O8, minimal drilling identify 0.3%
U3O8 over 1 m
.. JG - Boulders with visible pitchblende, values up to 38% U3O8,
bedrock source not yet found
.. Art - 500 m boulder field with values up to 2.5% U3O8, source not yet
discovered
.. JIM - Uranium enriched boulders, possible source identified in 1
drill hole
Below is an updated detailed summary of the seven selected prospects
requiring immediate follow-up. The summary is based on a recent
assessment of compiled and historic data.
Hawk Prospect
The Hawk prospect was first identified as a radioactive boulder field
spanning an area 280 m by 40 m. Geochemical analysis of boulders
returned values up to 4.1% U3O8. Some of the best drill holes
intersected mineralization with values up to 0.2% U3O8 over 24 m and
0.19% U3O8 over 15 m. Uranium mineralization is associated with breccia
zones near feldspar porphyries and occurs on the margins of breccia
fragments. In addition, drill hole H10 contains 0.18% molybdenum at
18-28 m.
Upon completion of a compilation and data review, the uranium
mineralization appears to be controlled by a major northwest trending
fault zone. This is of considerable interest with respect to the
Kiggavik model. Previous work does not appear to have considered the
structural complexities of the property. Historic drill data will be
further compiled to identify high priority drill targets. Field
investigations in 2007 will attempt to identify structural controls on
mineralization as a prelude to diamond drilling.
DDH From To Metres % U3O8
----- ------ ----- -------- --------
H-11 49 73 24.0 0.20%
H-22 46 57 11.0 0.21%
H-10 3 31 28.0 0.09%
H-10 45 60 15.0 0.19%
H-4 1.2 7.6 6.4 0.08%
H-15 21 25 4.0 0.11%
H-15 33 35 2.0 0.06%
H-8 2.7 3.4 0.7 0.03%
H-16 36 37 1.0 0.02%
H-36 35 40 5.0 0.15%
H-37 14 16.2 2.2 0.26%
H-37 28.9 29.5 0.6 0.06%
H-37 40.8 41.2 0.4 0.14%
Holes drilled at -90o with exception of H-11(-55o), H-22(-55o),
H-37(-45o)
True thicknesses have not been determined
SW Hawk Prospect
The SW Hawk Prospect is marked by a 900 metre-long boulder train.
Geochemical sampling of boulders returned values of up to 0.3% U3O8.
Mineralization was intersected in four out of 15 drill holes returning
values up to 0.25% U3O8 over 1 m and 0.07% U3O8 over 2.2 m.
L-1 Prospects
The L-1-prospect comprises two known uranium mineralized outcrop
showings 50 m apart and boulders forming a north-south trending area
100 m by 300 m in size. Detailed mapping and prospecting identified
over 150 radioactive boulders of which only 18 were sampled. Values
range from 0.04% to 2.2% U3O8 with an average of 0.7%. Other
significant values include 1.5%, 1.2%, and 0.84% U3O8. Both outcrop
showings were trenched and chip sampled returning 2.5 m of 0.89% U3O8
and 3.5 m of 0.08% U3O8.
A total of twenty-two holes totaling 1247.86 metres were drilled in the
early 1980s to extend the known mineralized outcrop zones to the north.
Of the twenty-two holes, ten intersected mineralization including
results of 4.45 m of 0.36% U3O8 and 10.85 m of 0.06% U3O8.
This area warrants further detailed exploration including prospecting
and drilling because of the wide-spread distribution of uranium in
boulders and outcrop, as well as the fact that 50% of holes drilled on
this grid intersected mineralization, All historic drill logs will be
captured digitally for three dimensional investigation to identify
targets for drilling.
Hole From To Metres % U308
----- ------- ------- -------- --------
L-2 3.05 7.50 4.45 0.36
L-4 15.90 16.50 1.6 0.09
L-10 13.50 24.35 10.85 0.06
L-15 12.75 16.10 3.35 0.06
L-20 25.90 31.45 5.55 0.06
L-22 34.10 35.15 1.05 0.11
2.5(1) 0.89
Holes drilled at -45o with exception of L-10 (-90o). *Trench sample
True thicknesses have not been determined
KAM Prospect
The KAM prospect is comprised of north and south mineralized zones
located approximately 900 m apart. The South Zone is defined on the
surface by uranium enriched boulders extending 1600 m in an east-west
trending direction. Assays from 18 grab samples collected along the
southern part of the prospect have yielded values ranging from 0.03% to
4.03 % U3O8 with an average of 0.69% U3O8. Four of the drill holes at
the south zone intersected uranium mineralization. Several uranium rich
horizons range from 1 m to 4 m downhole with uranium values ranging
from 0.06% to 0.17% including 0.44% U3O8 over 1 m. Based on drill hole
data, the strike length of the mineralized zone is a minimum of 250 m
and appears to be open to the south and north. The north zone is
marked by a 60 m by 50 m boulder field. Assays from 11 boulders from
North KAM returned U3O8 values ranging from 0.19% to greater than 5%
with an average of 2.04% U3O8. A single hole drilled into the north
zone encountered minor uranium mineralization in the same geological
rock type as the south zone.
The airborne survey will help delineate the extent of mineralization on
both North and South KAM and will help determine if mineralization is
continuous between the North and South KAM zones. Additional ground
work is planned to identify drill targets.
Hole From To Metres % U3O8
----- ------ ----- -------- ----------
DDH-2 31 32 1.0 0.23
DDH-2 57 58 1.0 0.05
DDH-2 128 131 3.0 0.13
DDH-2 133 135 2.0 0.07
DDH-2 138 140 2.0 0.17
DDH-3 57 60 3.0 0.17(1)
DDH-5 79 83 4.0 0.17
DDH-5 86 87 1.0 0.1
DDH-5 135 138 3.0 0.07
The holes were drilled on an azimuth of 070o at a dip of -50o
True thicknesses have not been determined
*includes 1m of 0.44% U3O8
JG and GS-2 Prospects
The JG Prospect which was recently staked is defined by numerous
boulders and cobbles with visible pitchblende returning values ranging
from less then 0.1% to 38% U3O8. The GS-2 occurrence was found
approximately 600 m east of the JG occurrence that consists of boulders
returning values up to 0.072% U308.
The JG Prospect was followed up with detailed prospecting which
discovered a 200 metre-long, north trending boulder train. The southern
50 m of this train was described as being the most radioactive.
Drilling in the vicinity did not intersect significant mineralization.
At the end of the 1978 field season it was suggested that the
mineralization came from a small high grade mineralized pocket, likely
of local origin. It has been recommended to Uranium North to conduct
more work in an attempt to find the source of this high grade
mineralization.
Art Prospect
The Art Prospect comprises a 500 m long boulder field containing 100
radioactive boulders. Geochemical values for 10 boulders range from
0.04% to 2.5% U3O8 with an average value of 0.7% U3O8. Other high
values include 1.15%, 1.25%, and 1.50% U3O8. The boulders were
described as being locally derived angular and frost heaved. Eight
drill holes failed to intersect significant mineralization as observed
in the boulders.
Further, the mineralization intersected by drilling was strongly
hematite altered trachyte whereas the boulders are more felsic and less
hematized. The distance of transport of the boulders was not thought to
be great as the boulders were relatively angular. It was suggested
further work was warranted to trace the boulders to source. There is no
indication that this was ever done.
Jim Prospect
The Jim Prospect is marked by uranium enriched boulders. Grab samples
of sheared volcanic rocks returned values up to 0.20% U3O8. Since the
sheared boulders were described as occurring over a large area it was
concluded that several mineralized shear zones would be the source. A 3
m wide shear zone exposed by frost heave was identified. One
71-metre-long drill hole intersected the shear zone and also
intersected several radioactive shears up to 5 cm in width over 27 m of
core. This radioactive zone returned values up to 0.028% U3O8 over 8 m.
Since only one reported hole was drilled into this prospect and it
intersected mineralization, further work is recommended. Detailed
ground work will be required to delineate drill targets.
The data reported for the properties is from assessment files and other
third party reporting. The accuracy and validity of this historic data
has not been verified by Uranium North or its consultants. B. Brereton
(P. Eng.) is Uranium North's qualified person reviewing the data for
this project.
About Uranium North Resources
Uranium North is a junior mineral exploration company focused on
uranium opportunities in Canada. The Company holds 100% interest in
three million acres of property located within the most prospective
basins in Canada. Uranium North is focusing on five key projects, one
of which hosts a 6.7 million lb historical resource (non NI 43-101
compliant).
ON BEHALF OF THE BOARD OF DIRECTORS
Mark Kolebaba
President & CEO, Uranium North Resources Corp.
Uranium North Resources Corp.
Corporate Communications: Heather Kays
Telephone: (604) 484-2212
Facsimile: (604) 484-7143
Website: www.uraniumnorthresources.com
Email: info@uraniumnorthresources.com
Renmark Financial Communications Inc.
Jason Roy: jroy@renmarkfinancial.com
Barbara Komorowski : bkomorowski@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. 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.
======================================================================
Copyright (c) 2007 URANIUM NORTH RESOURCES CORP,. (UNR) All rights
reserved. For more information visit our website at
http://www.uraniumnorthresources.com/ or send
mailto:info@uraniumnorthresources.com
======================================================================
.
![]()