Tanzania Projects - Exploration Update
November 4, 2008 � Vancouver, B.C.: Atomic Minerals Ltd. (ATL: TSX-V) is pleased to present the following exploration update on its projects in south-western Tanzania.
Subsequent to an earlier exploration update of September 23, 2008, preliminary ground radiometric follow-up on PL 4433 is mostly complete. The majority of the airborne anomalies reported over the license would appear to be over granite bodies characterised by narrow (1-3cm wide) pegmatite veins and quartz stringers, with noticeably high thorium/uranium ratios, as determined by electronic assay using a handheld scintillometer. Such areas revealed a radiometric background not exceeding 2,000 cps. However, a single area towards the north-eastern boundary of the license did have a combined radiometric background in excess of 7,000 cps, over an area dominated by highly weathered granitic sand.
Short Term Exploration Plans
In order to maintain the momentum of current exploration efforts, a high resolution ground radiometric survey has been planned to cover the radiometrically-enriched granitic sands, as described earlier in this news release. This survey will be supported by an auger-drill program, to determine the thickness of the sand cover, and to recover sufficient sample to determine the mineralogy and economic potential of these radioemtrically anomalous sands.
With respect to PLR 4335, Atomic Tanzania is still awaiting the results of the laboratory analysis of heavy sands, which were submitted to the Economic Geology Research Unit at the University of the Witwatersrand, in Johannesburg, South Africa. No further activity is planned for this PL at present.
In order to minimize our risk during this market uncertainty, we committed to trimming all budgets and focusing on completing these property evaluations before year end. Data collection and property prioritization will be the focus over the next 90 days. The Company plans to explore other opportunities of interest that may add value to the Company without financial risk or exposure.
Qualified Person
Mr. Peter Chadwick, M.Sc., P.Geo., Pr.Sci.Nat., is the Vice-President of Exploration (Africa) for Atomic Minerals Ltd., and is the Qualified Person (as defined by National Instrument 43-101) responsible for the accuracy of the technical information contained in this news release.
About Atomic Minerals
Atomic holds an option to earn up to a 100% interest in a land package totalling approximately 3800 square kilometres located in the United Republic of Tanzania (the �Properties�) from Geo Can. The largest of the Properties are located in south-western Tanzania and are considered to be part of the �Malawi Extension� based on the location of the Property relative to blocks earmarked as potentially favourable for uranium enrichment. The Malawi Extension, located in the Republic of Malawi on southwest border of Tanzania, hosts the Kayelekera deposit which Paladin Resources is currently deve loping into a mine. Other mining companies exploring in the area include Mantra Resources and Western Metals (both in Tanzania).
In addition, the Company maintains a solid cash position of over CDN $1.5 M, with no large expenditures or payments due in the next 90 days. This will allow Atomic to continue with a minimal exploration plan and identify other potential opportunities.
On behalf of the Board of Directors of Atomic Minerals Ltd.
�Warren McIntyre�
Warren McIntyre
President and Chief Executive Officer
Atomic Minerals Ltd.
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