Magnum Uranium Corp.

Published : August 10th, 2007

Announces High-Grade Drill Results from San Rafael Project, Utah

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Friday, August 10, 2007
Magnum Uranium Announces High-Grade Drill Results from San Rafael Project, Utah


 

VANCOUVER, B.C. -- Magnum Uranium Corp. ("Magnum") is pleased to announce high-grade drilling results from its San Rafael Uranium Project, Emery County, Utah. Magnum is in the process of earning an 80% interest in this joint venture property from its partner, Energy Metals Corp. (see Magnum news release dated December 5, 2006).

Results from the drilling are listed in the table below. The objective of this drill program is to test for step-outs on existing mineralized zones and discover new areas of additional high-grade uranium mineralization similar to those defining past resources and areas previously mined by Atlas Uranium and others. As of July 27, 2007, Magnum has completed 15 rotary drill holes, totaling 9,150 feet. Seven of the holes intersected ore-grade mineralization, including SR-3-07 with 6.5 feet of 0.907% eU3O8, SR-13-07 with 5.0 feet of 0.212% U3O8, and SR 11-07 with 2.5' of 0.418% eU3O8. Collectively, the seven holes align to define a northeast-trending zone of uranium mineralization, which currently is 2,600 feet long and open on both ends.

SAN RAPHAEL URANIUM PROJECT
2007 Significant Drill Results

                       From                  To             Thickness        Grade

Drill Hole        (feet)               (feet)              (feet)          (% eU3O8)

 

SR-1-07           490.0'              491.5'              1.5'                  0.161%

 

SR-2-07           430.5'              431.5'              1.0'                  0.127%

SR-2-07           479.5'              481.0'              1.5'                  0.109%

 

SR-3-07           482.5'              484.0'              1.5'                  0.186%

SR-3-07           487.5'              494.0'              6.5'                  0.907%

 

SR-7-07           541.0'              543.0'              2.0'                  0.379%

 

SR-11-07         204.0'              206.5'              2.5'                  0.418%

 

SR-12-07         330.5'              331.5'              1.0'                  0.210%

 

SR-13-07         345.0'              350.0'              5.0'               *0.212%

* Denotes chemical assay by Energy Labs of Casper, Wyoming

The current drill program is approximately 50% complete and is expected to total 20,000 to 22,000 feet spread amongst 30 holes.  Bob Beeman Drilling Company of Moab, Utah is conducting the drilling, and Jet West Geophysical Services LLC of Farmington, New Mexico is conducting the down-hole logging for gamma, spontaneous potential (SP), and resistivity.  The goal of gamma logging is to determine where mineralization is located down the hole and what quantity is in place.  A Mt. Sopris instrument was utilized, with the gamma portion of the down-hole logging tool calibrated to the uranium content by probing standardized test pits, located in Grants, New Mexico. In situ uranium grade, expressed as equivalent U3O8 ("eU3O8"), is calculated using uranium industry standard techniques for gamma log interpretation. Down-hole gamma log interpretation has historically been found to be an accurate representation of in situ grades for uranium mineralization in the San Raphael District as established by Atlas Uranium Corp. during their exploration and mining operations conducted in the district.

The San Rafael Project is located on the eastern flank of the San Rafael Swell, 15 miles west of Green River, Utah.  The area was the site of mining and exploration for uranium and vanadium from the mid-1950"s until the 1980's.  Uranium mineralization in this district occurs in high-grade zones within paleo-stream channels hosted in the Salt Wash Member of the Jurassic Morrison Formation.  Historically, the district produced over 3.1 million pounds of uranium and 5.4 million pounds of vanadium.

John R. Carden, Ph.D., P. Geo., a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information in this release.

About Magnum 

Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America.  Currently, Magnum's primary property holdings are located in the Western United States, specifically Wyoming, Utah, Idaho, and New Mexico, as well as in Canada's Athabasca Basin.

ON BEHALF OF THE BOARD

"Craig T. Lindsay"

 President & CEO

For additional information please contact:

Tel: 604.683.2507     Fax: 604.683.2506

E-mail:

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISSAPROVED OF THE CONTENTS HEREIN

This new release does not constitute and offer to sell or a solicitation of any offer to sell any securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act).  Or any state securities laws and may not be offered or sold within the United States or to U. S. Persons unless registered under the U.S. Securities Act and applicable state securities, laws, or an exemption from such registration. 


 
 
 

 

Magnum Uranium Corp.

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CODE : MM.V
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Magnum Uranium is a uranium exploration company based in Canada.

Magnum Uranium produces uranium, copper and tin in USA, and holds various exploration projects in USA.

Its main asset in production is SAN RAFAEL in USA and its main exploration properties are MARYSVALE, STANLEY URANIUM and 35/75 in USA.

Magnum Uranium is listed in Canada and in United States of America. Its market capitalisation is CA$ 5.2 millions as of today (US$ 5.2 millions, € 3.7 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.07, and its highest recent level on May 04, 2012 at CA$ 4.36.

Magnum Uranium has 22 268 000 shares outstanding.

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Financings of Magnum Uranium Corp.
3/2/2007Completes Private Placement
Project news of Magnum Uranium Corp.
5/22/2009(San Rafael)Files Amended 43-101 Technical Report on Its Deep Gold Depos...
1/8/2009(San Rafael)Initiates Drill Program And Announces Earn-In Of 100% Intere...
11/12/2008(Marysvale)Drills Bulk Tonnage Mineralization at Marysvale
9/19/2008(San Rafael)Issues NI 43-101-compliant Uranium Resource on the Deep Gold...
7/31/2008(San Rafael)Announces San Rafael Project Update
4/14/2008(San Rafael)Commences San Rafael Drill Program
3/25/2008Issues First NI 43-101-Compliant Uranium Resource on a Porti...
1/17/2008Announces High-Grade Phase II Drill Results from San Rafael ...
8/10/2007Announces High-Grade Drill Results from San Rafael Project, ...
3/28/2007Signs Lye Uranium Project Drill Contract
Corporate news of Magnum Uranium Corp.
2/12/2008Uranium Completes 80% Earn-in on San Rafael Joint Venture
11/26/2007Discovers Significant Radon Anomaly at 35-75 Uranium Propert...
10/25/2007 Commences Phase II Drilling at San Raphael
10/18/2007 Discovers Sizeable Radon Anomaly at Marysvale
8/23/2007Acquires Significant San Raphael Data Package
6/12/2007Begins Drilling at San Raphael Uranium Project, Utah
5/16/2007Commences Phase II Wyoming Drilling
5/3/2007Announces Joint Venture with Triex in Athabasca
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