Uranium North Mobilizes Drill to the Amer Lake Property
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/08/11 -- Uranium North Resource Corp. ('Uranium North' or the 'Company') (TSX VENTURE: UNR) reports that the drill is being mobilized for the 2011 drill program on the Company's 100% owned Amer Lake uranium project in Nunavut. The program will attempt to increase the 19.3 million pound uranium resource(i). Drilling is expected to begin around the second week of June.
The proposed program entails at least 2500 metres of reverse circulation drilling by Northspan Explorations Ltd., on the southeast extension of the Main Zone, a uranium bearing arkosic sandstone unit. Geology and geophysics indicate the Main Zone extends to the southeast.
'Continuing to expand our uranium resource at a low cost, allows the company to develop an existing asset in a commodity that is projected to have a long term supply deficit. Our goal this year is to continue to participate in uranium exploration while advancing our gold and silver projects,' says Mark Kolebaba, President and CEO of Uranium North Resources.
A contract has been signed with Geovector Management Inc. to oversee the field operation and to complete an independent NI 43-101 resource update and accompanying report. Geovector completed the initial NI 43-101 resource and report(i) in 2009.
Bruce Kienlen, P.Geol, and Graham Gill P.Geo, are the Qualified Persons as defined by National Instrument 43-101, reviewing data for this property. Personnel from Geovector will also act as Qualified Persons for the field operation and for the updated resource estimation on this project.
(i)See news release dated September 24, 2009
About Uranium North
Uranium North Resources is a multi-commodity company focused on gold, silver and uranium in Nunavut. All properties are 100% owned including the Amer Lake uranium deposit, one of the largest uranium resources in Nunavut. The company will be drilling the Mallery gold/silver project, the Nowyak gold deposit and carrying out a low cost expansion program on the Amer Lake uranium deposit in 2011.
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