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Uranium North Intersects Uranium Mineralization with Grades Up to
1.59% (31.8 lbs/ton) U308 on the KAM Property
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Vancouver, December 4, 2008 --Uranium North Resources Corp (UNR --
TSX-V) announces the discovery of high-grade uranium mineralization on
the KAM prospect located on the South Baker property in Nunavut. Five
drill holes at KAM intersected uranium mineralization along a 200 metre
zone with several significant mineralized intersections including
grades up to 1.59% U3O8. These drill results significantly expand the size
potential of the KAM prospect. Mineralization at KAM is near surface
and is open to the north, south, and at depth. Surface exploration
indicates additional uraniferous zones may exist to the west.
Drill hole K-05-08 intersected two zones: a 10 metre zone grading 0.3%
(6.0 lbs/ton) U3O8 including 4 metres of 0.56% (11.2 lbs/ton) U3O8, and
a 5 metre zone of 0.42% (8.4 lbs/ton) U3O8 including 1 metre of 1.16% (23.2
lbs/ton) U3O8 (see table below).
Drill hole K-03-08 collared approximately 100 metres from K-05-08, also
intersected two zones: a 7 metre zone grading 0.23% (4.6 lbs/ton) U3O8,
and a 9 metre zone grading 0.36% (7.2 lbs/ton) U3O8. The latter includes a
4 metre zone of 0.7% (14 lbs/ton) U3O8 which contains a 1 metre interval
of 1.59% (31.8 lbs/ton) U3O8 (see Table Below).
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From To Interval
Drill hole (m) (m) (m) % U3O8 lb/ton
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K-05-08 50.2 60.2 10 0.3 6
Including 53.2 57.2 4 0.56 11.2
K-05-08 103.7 108.7 5 0.42 8.4
Including 105.7 106.7 1 1.16 23.2
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K-03-08 150.1 157 6.9 0.23 4.6
K-03-08 175.67 184.7 9.03 0.36 7.2
Including 177.7 181.7 4 0.7 14
Including 177.7 178.7 1 1.59 31.8
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K-02-08 16.13 19.13 3 0.03 0.6
K-02-08 27.13 35.13 8 0.12 2.4
Including 31.13 35.13 4 0.21 4.2
K-02-08 40.13 42.13 2 0.04 0.8
K-02-08 187.45 188.45 1 0.14 2.8
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K-04-08 147 149.48 2.48 0.03 0.6
K-04-08 173.7 177.34 3.64 0.06 1.2
K-04-08 179.81 183.2 3.39 0.04 0.8
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K-06-08 168.14 169.14 1 0.1 2
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KAM mineralization occurs in fractured and fault brecciated basement
rocks and is commonly associated with chlorite and hematite alteration.
"These are the most significant drill intercepts reported in the area
and are comparable to grades reported from Kiggavik and Andrew Lake
deposits. With a strong cash position, Uranium North will pursue KAM as
a high priority stand alone project." says Mark Kolebaba, President of
Uranium North.
K-06-08 drilled 102.7 metres of volcanic rocks belonging to the
Christopher Island Formation before penetrating basement rocks. A 1
metre zone of 0.10% (2 lbs/ton) U3O8 was intersected. It is likely that
this hole overshot the main target horizon.
An additional drill hole was collared 2 kilometres to the west to test
the possible westerly extent of the mineralized zone. The hole was lost
before intersecting bedrock.
This program met the objective of locating a possible bedrock source
for high grade boulders discovered on the surface in 2007 and
demonstrated to the Company that the KAM prospect is potentially a
sizable uranium target.
Plans for KAM include modeling of historic and 2008 drill holes to
better understand the orientation of the mineralization. Drilling is
planned for 2009 on the KAM target and will be designed to test along
strike and at depth to further delineate the mineralized zone.
KAM is one of 12 known prospects identified on the South Baker Property
and is approximately 35 kilometres from the Hawk prospect which
recently yielded encouraging uranium results (see news release dated
November 26, 2008). The Company's exploration concept for South Baker
is based on developing tonnage from several closely spaced deposits as
at Kiggavik. The Kiggavik deposits have been reported by Areva to
comprise 148 million pounds from six different deposits.
A total of 1060 metres of drilling were completed in six holes by
Forage Boreal Drilling of Val-d'Or, Quebec. All holes were inclined 45
degrees. All intersections reported are down-hole, core-length
intervals using a 0.01% U3O8 cut-off grade. The true thickness of
mineralized zones is yet to be determined.
Quality control/quality assurance
A total of 164 core samples of 0.5 -- 1.0 metres in length were
processed at the Saskatchewan Research Council (SRC) Geoanalytical
Laboratories, which is an ISO/IEC 17025 accredited laboratory for
mineral analysis testing located in Saskatoon, Saskatchewan. Samples
were analysed using SRC's Uranium Exploration ICP Package, which
includes uranium by total digestion ICP-OES analyses, uranium by
partial digestion ICP-OES analyses and uranium by fluorimetry analyses.
All samples having more than 1000 ppm uranium were assayed using a
uranium assay dissolution procedure. Numbers reported are for uranium
by fluorimetry (< 1000 ppm) or uranium assay (>1000 ppm).
Laboratory method quality control included the insertion of certified
reference materials applicable for the ranges of mineralization
encountered. Repeat analyses were performed on every 20th sample.
Allan Armitage, Ph.D., P.Geol., Vice President - Exploration of Uranium
North, is a Qualified Person as defined by National Instrument 43-101,
and is responsible for quality control of exploration undertaken by the
Company and has reviewed and approved the technical information in this
release.
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:
Email:
Forward-Looking Information
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release
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
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Copyright (c) 2008 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
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