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Drilling is Underway in the Hornby Basin
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Vancouver, BC - Triex Minerals Corporation (TXM-TSX.V) ("Triex") and
Pitchstone Exploration Ltd. (PXPTSX. V) are pleased to announce that
drilling has started at the Mountain Lake uranium deposit in the Hornby
Basin, Nunavut. The main objective of this year's program is to test
for additional deposits in the district.
The 50:50 joint venture (the "Joint Venture") is actively exploring
five properties in the Hornby Basin, including its Mountain Lake
uranium deposit, with land holdings in the region totaling
approximately 221,000 hectares. The Company's website
(www.triexminerals.com ) contains a property location map, and all maps
referred to below. The Mountain Lake uranium deposit is located 100
kilometres southwest of the coastal community of Kugluktuk (formerly
Coppermine), Nunavut.
The 2007 exploration budget for the Hornby Basin properties is $2.3
million, directed mostly to drilling. A total of 5,000 metres of
diamond drilling has been contracted to Connors Drilling Ltd.
Re-opening of the Kirwin Lake camp and mobilization of all equipment
was completed by the third week in April. Drilling commenced on May
8th, and is expected to be complete by the end of June.
Drilling at Zargut Lake is underway where a minimum of three holes will
be completed to test for the extension of the Mountain Lake deposit to
the north. The main focus of the 2007 program is to test for additional
deposits in the district. Four holes are planned at Helmut Lake and
sixteen holes at Dismal Lake (see Hornby Basin Drill Targets 2007 map).
A down-hole Mount Sopris 2PGA-1000 poly-gamma probe will be used on all
holes.
The Mountain Lake deposit contains the only identified uranium resource
in the Hornby Basin (Inferred Mineral Resource of 8.2 million pounds
U3O8, with an average grade of 0.23% U3O8 contained in 1.6 million
tonnes of rock; see NI 43-101 Technical Report on SEDAR).
Triex is operator for the Joint Venture. Allan Armitage, Ph.D., P.Geo.,
is a Qualified Person as defined by National Instrument 43-101, and is
responsible for program design and quality control of exploration
undertaken by Triex in the Hornby Basin. This release has been reviewed
by Dr. Michael Gunning, Ph.D., P.Geo., President of Triex and a
Qualified Person as defined by National Instrument 43- 101.
Triex is a Canadian junior mineral exploration company focused on
uranium opportunities in North America. The company is working in three
proven districts, advancing eight projects which span grass roots
reconnaissance exploration to advanced-stage resource delineation. The
2007 exploration budget is $8.7 million.
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TRIEX MINERALS CORPORATION
"Michael Gunning"
Michael Gunning, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.
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Copyright (c) 2007 TRIEX MINERALS CORPORATION (TXM) All rights
reserved. For more information visit our website at
http://www.triexminerals.com/ or send mailto:info@triexminerals.com
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