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Re: News Release - Tuesday, February 12, 2008
JNR Announces Drilling Program on South Fork Uranium Project,
Saskatchewan
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Saskatoon, SK, February 12, 2008 - JNR Resources Inc. (TSXV:JNN) is
pleased to announce that project operator Uranium Power Corp
(UPC-TSX.V) has signed a contract with Layne Christensen Drilling, of
Aurora CO, to complete an extensive drilling program on the South Fork
uranium project located east of the Cypress Hills in southwestern
Saskatchewan. The contract calls for the use of two drill rigs; one top
head rotary and one percussion hammer.
The South Fork project consists of just over 50,000 hectares with
excellent potential to host roll-front uranium deposits, in a
geological environment very similar to the prolific Powder River Basin
in Wyoming. Such deposits are commonly amenable to in situ leach
recovery. Interpretation of a recently completed Fugro TEMPEST airborne
EM survey indicates what appear to be well-developed paleochannels in
sandstones and shales of the Frenchman and Ravenscrag Formations.
JNR's Director of Exploration, Dr. Irvine R. Annesley comments: "I am
very excited by the high quality results from the TEMPEST survey, which
clearly indicate several excellent uranium targets over a very large
area".
Drilling is planned to commence in mid-late April, 2008. The projected
cost of the planned program is $1.3 million.
The area was explored in the late 1970's and early 1980's by
Saskatchewan Mining Development Corporation (SMDC), a predecessor
company of Cameco Corporation. SMDC carried out regional geochemical
and geophysical surveys, followed by reconnaissance drilling programs.
These field activities resulted in the identification of several
extensive regional redox systems that were never followed up to any
great extent. SMDC dropped the project after the 1982 field season due
to depressed uranium prices. Reconnaissance-scale drilling by SMDC
intersected anomalous uranium concentrations over widespread areas.
UPC can earn up to a 65% interest in the South Fork property by
reimbursing JNR for prior expenditures (completed) and by spending
$2,500,000 on exploration activities by January 25, 2011.
Dave Billard, P.Geo, Vice President of Exploration for JNR Resources is
the Qualified Person responsible for the technical content contained in
this release.
ON BEHALF OF THE BOARD
Rick Kusmirski
President & CEO
For further information contact JNR Resources at 306.382.2211 or
877.567.6463
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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Copyright (c) 2008 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
For more information visit our website at http://www.jnrresources.com/
or send mailto:info@jnrresources.com
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