JNR Resources

Published : June 17th, 2010

Extends Uranium Mineralization

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Keywords :   Diamond | Rare Earth | Thorium | Uranium |

Re:        News Release - Thursday, June 17, 2010
Title:     JNR Extends Uranium Mineralization at Way Lake



Saskatoon, SK, June 17, 2010 - JNR Resources Inc. (TSXV:JNN) (the 'Company') is pleased to announce that it has received all of the analytical results from its 2010 winter Diamond drilling program on the Company's 100% owned Way Lake uranium project. The project lands are located 55 kilometres east of the Key Lake uranium mine in the Athabasca Basin of northern Saskatchewan and comprise 17 contiguous claims totalling 71,795 hectares.

A total of 2,773 metres were drilled in 14 holes, with seven of these further testing and extending the Fraser Lakes B zone, which occurs within a 5-kilometre-long interval of a tightly folded EM conductor system comprised of Wollaston Group graphitic pelitic gneisses and uraniferous granitic pegmatites (news release: February 20, 2009). The mineralized zones were discovered by ground prospecting of airborne geophysical targets during the summer of 2008. Drilling to date on the Fraser Lakes B zone has now identified an extensive area approximately 1000 metres long by 650 metres wide of moderately dipping, multiple stacked uranium and thorium mineralized horizons, which are open to the southwest and east-northeast, and at depth to at least 125 metres. All holes were drilled at a 45 to 50 degree angle across the radioactive horizons on sections consisting of two to four drill holes.

Multiple intervals of uranium and/or thorium mineralization were intersected in six of the eight holes that tested the Fraser Lakes B Zone (Table 1). The better intersections occur in drill holes WYL-10-51, -58, -61, -62, and -64. In addition to the uranium and thorium mineralization, highly anomalous concentrations of base metals accompanied by rare earth element (REE) enrichment are also present. At a grade cutoff of 0.025% U3O8, the results from WYL-61, -51 and 58 in particular are impressive. Hole WYL-10-61 returned a grade of 0.057% U3O8 over 5 m., including 0.242% U3O8 over 0.5 m. WYL-10-58 returned ten uranium mineralized intervals over a 65-metre downhole length; including a 5.50 metre interval of 0.026% U3O8, a 3.00 metre interval of 0.041 U3O8, a 1.00 metre interval of 0.041 U3O8 with 0.046% ThO2, and a 0.50 metre interval of 0.209% ThO2 with 0.20% U3O8. Drill hole WYL-10-51 returned five mineralized intervals over a 50-metre downhole length, including a 3.00-metre intercept of 0.0.064% U3O8, that included 0.179% U3O8 and 0.059% ThO2 over 0.5 metres.

Table 1. Significant Drill Results

DDH# From
(m)
To
(m)
Width
(m)
Grade% (U 3O 8)
(cutoff>0.025)
Grade% (ThO 2)
(cutoff >0.050)
Other
Metals %
WYL-10-51 163.5 163.75 0.25 0.073 0.050
164.15 164.4 0.25 0.054 Ni-0.026, V-0.038
165.5 167.5 2.00 Cu-0.024 Mo-0.005,
182.0 186.0 4.0     Cu-0.03, Mo-0.013, Ni-0.065, V-0.049
192.0 193.1 1.1 0.049   Anomalous Cu, Mo, Ni, V
203.5 206.5 3.0 0.064   Zn-0.02
Incl. 0.5 0.179 0.059
215.0 216.0 1.0 0.076
WYL-10-53 39.5 40.4 0.9 0.055   Anomalous B, Pb, V
WYL-10-57 40.0 41.5 1.5 0.037    
43.5 45.5 2.0 0.038    
47.5 48.5 1.0 0.069 0.047 Zn-0.044
77.25 77.75 0.5 0.033    
WYL-10-58 74.5 79.5 5.0 (5-193 ppm)   Cu-0.033, Ni-0.020, V-0.015, Zn-0.045
90.5 91.0 0.5 0.064    
91.5 97.0 5.5 0.026   Anomalous Pb, Th, Zn
99.5 100.5 1.0 0.045   Anomalous Pb, Th, Zn
101.0 101.5 0.5 0.065   Anomalous Pb, Th, Zn
107.5 108.0 0.5 0.039   Anomalous Pb, Th, Zn
110.5 111.0 0.5 0.020 0.209 Anomalous Mo, Zn
112.5 113.5 1.0 0.034 0.046 Anomalous Mo, Zn
120.5 123.5 3.0 0.041   Anomalous Pb, Th
128.0 129.0 1.0 0.039   Anomalous Pb, Th
139.0 139.5 0.5 0.043   Anomalous Pb, Th
WYL-10-61 127.5 128.0 0.5 0.075    
128.0 130.5 2.5     Anomalous Cu, Ni, V
130.5 135.0 4.5 0.034   Anomalous Pb, Th
158.0 163.5 5.0 0.057

0.056 Mo-0.0141, Pb-0.0153, Zn-0.011
  Incl. 0.5 0.242 0.254  
166.5 167.0 0.5 0.052   Anomalous Mo, Pb, Th, Zn
WYL-10-62 68.1 68.6 0.5 0.046   Anomalous Cu, Mo, Pb, Th, Zn
81.0 85.0 4.0 0.051   Mo-0.016, Pb-0.015 Th-0.036, Zn-0.022
90.5 94.5 4.0 0.056   Cu-0.033, Pb-0.019 Th-0.038, Zn-0.01
111.5 112.5 1.0 0.03    
WYL-10-63 108.7 110.2 1.5 0.03   Anomalous Cu, Pb, Th
WYL-10-64 60.50 62.5 2.0 0.069 0.046 Anomalous Mo, Pb
77.00 78.0 1.0     Cu-0.049
79.50 80.5 1.0 0.055 0.059 Anomalous Pb
81.60 82.6 1.0 0.046   Anomalous Pb, Th
85.60 86.1 0.5 0.029   Anomalous Pb, Th
88.70 91.7 3.0 0.043   Anomalous Pb, Th
  Incl. 0.5 0.126    

The remaining holes tested select targets on the 65 kilometre long, folded electromagnetic (EM) conductor system. Anomalous radioactivity and U mineralization were intersected in two of these (WYL-10-53 and 55). The mineralization was accompanied by significantly disrupted and locally clay-altered Wollaston Group graphitic pelitic gneisses (+/-sulphides) and granitic pegmatites. Furthermore, the major clay-filled fault system that was intersected in these holes yielded PIMA results that indicate a preponderance of illite, an important clay mineral that accompanies many of the significant uranium deposits in the Athabasca Basin.

The 2010 winter drilling has also provided compelling evidence for the presence of major east-west and north-south structural corridors that intersect the main northeast-trending EM conductors. These structural intersection zones are significant, considering their host rock lithological units, their mineralized alteration patterns, and their similarities to basement-hosted mineralization found elsewhere (e.g. at Eagle Point, Millennium, P-Patch, and Roughrider Zone).

The Company is pleased with these new results as they provide further evidence of the significant uranium and metal endowment in the Fraser Lakes district. The lack of sandstone cover in this area and shallow depth to mineralization (from outcrop to 125 metres depth) allows for efficient and timely exploration.

Dr. Irvine Annesley, Director of Exploration for JNR states: "The Fraser Lakes conductive trend is proving to be quite metal-rich and aerially extensive, as well as showing evidence of major structural reactivation, significant clay alteration, and basinal brine fluid circulation. These are all prominent characteristics of nearby basement-hosted uranium deposits, and thus will be followed-up by more detailed exploration."

JNR's Vice-President of Exploration, David L. Billard, PGeo, is the qualified person responsible for the technical data presented in this release. Samples were analysed at the Saskatchewan Research Council Laboratory in Saskatoon. All technical information for the Company's exploration projects is obtained and reported under a formal quality assurance and quality control program, details of which are presented on the Company's website at: www.jnrresources.com/i/pdf/JNR-QAQC.pdf. A glossary of the technical terms included in this release can be found on the Company's website at: www.jnrresources.com/s/Glossary.asp.

ON BEHALF OF THE BOARD

Rick Kusmirski
President & CEO

For further information contact JNR Resources at 306.382.2211 or 877.567.6463

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 news release. Statements contained in this news release that are forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risks related to the accessibility to the property; operational risks; weather; availability of equipment and personnel; changes in project parameters as plans continue to be refined; delays in obtaining governmental approvals; delays or failure in obtaining financing on acceptable terms. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

View News Release in PDF Format:
http://www.jnrresources.com/i/pdf/2010-06-17_NR.pdf
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Copyright � 2010 JNR RESOURCES INC. (JNN-TSXV) All rights reserved. For more information visit our website at http://www.jnrresources.com/ or send email to info@jnrresources.com ..

JNR Resources

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JNR is a silver and gold exploration company based in Canada.

JNR holds various exploration projects in Canada.

Its main exploration properties are BELL LAKE, PENDLETON LAKE, KELIC LAKE, NORTH WEDGE, SOUTH DUFFERIN, SNOWBIRD PROPERTY, YURCHISON LAKE, TOPSAILS, SOUTH FORK, CRACKINGSTONE, MOORE LAKE, ROCKY BROOK, SOUTH CIGAR, LAZY EDWARD BAY, WAY LAKE, BLACK LAKE PROPERTY and NEWNHAM in Canada.

JNR is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 11.5 millions as of today (US$ 11.4 millions, € 8.4 millions).

Its stock quote reached its lowest recent point on December 31, 2003 at CA$ 0.03, and its highest recent level on December 31, 2007 at CA$ 4.50.

JNR has 114 620 000 shares outstanding.

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Financings of JNR Resources
11/6/2012Announces $3.0 Million Financing
5/7/2012Announces Closing of Private Placement
4/18/2012Announces Private Placement
3/14/2011Announces Closing of $2,810,000 Private Placement
2/24/2011JNR Announces $ 3.000.000 Private Placement
8/12/2010Increases Private Placement
11/12/2009Announces Closing of Private Placement
10/23/2009Private Placement
7/20/2009Increases Private Placement
12/30/2008Announces Closing Of Private Placement
12/19/2008Announces Private Placement
Option Grants of JNR Resources
8/16/2010Granting of Stock Options/Directors Re-elected
2/16/2008Announces Granting of Stock Options
Nominations of JNR Resources
10/22/2012Announces Re-Election of Directors and Planning of 2013 Prog...
2/15/2011Announces Appointment of Dave Billard, P.Geo. as Chief Opera...
5/16/2007Announces Appointment of New Director and Officers
Project news of JNR Resources
5/11/2012Commences Spring Drilling Program at Black Lake Uranium Proj...
10/6/2011(Topsails)/Altius Commence 2011 Fall Exploration Program at Topsails P...
8/18/2011Commences 2011 Summer Drilling Program at Snowbird Uranium P...
7/21/2011(Way Lake)Extends Areas of Uranium Mineralization at Way Lake
4/27/2011(Moore Lake)Announces Results of 2011 Moore Lake Winter Diamond Drilling...
3/30/2011(Way Lake)Commences 2011 Drilling Program at Way Lake Uranium Project
3/9/2011(Newnham)Completes Airborne Gravity Survey on the Newnham Lake Proper...
3/3/2011(Lazy Edward Bay)Completes Airborne Gravity Survey on the Lazy Edward Bay Pro...
12/22/2010(Moore Lake)Announces 2011 Winter Exploration Programs
6/17/2010(Way Lake)Extends Uranium Mineralization
4/20/2010(Way Lake)Completion of 2010 Drilling Program at Way Lake Uranium Proj...
4/7/2010(South Dufferin)Results of Airborne Surveys on the Snowbird-South Dufferin P...
1/14/2010(Way Lake)2010 Drilling Program at Way Lake Uranium Project
12/18/2009(Topsails)/Altius Discover Rare Earth Metals and Uranium-Thorium Miner...
11/30/2009(Topsails)Altius Discover Cu-Mo-Au-Ag Mineralization at Topsails
9/9/2009(Rocky Brook)Drilling Underway at Rocky Brook Uranium Project
7/21/2009(Topsails)Provides Exploration Update on Topsails Uranium Project, New...
7/16/2009(Way Lake)Intersects Uranium/Thorium Mineralization at Way Lake
5/14/2009(Rocky Brook)Earns 70% Interest in Rocky Brook Project -- Exploration Con...
2/27/2009(Way Lake)Provides Remaining 2008 Drilling Results from Way Lake
2/20/2009(Way Lake)Announces Drilling Program Underway at Way Lake Uranium Proj...
11/14/2008(Way Lake)Discovers New Mineralized Zones on Way Lake Uranium Project
8/25/2008(South Fork)Announces Drilling Results at South Fork Uranium Project
7/9/2008(Way Lake)Takes Delivery of Third Drill; Two Drills Active at Way Lake
5/12/2008(Way Lake)Announces Drilling Program Underway at Way Lake
4/9/2008(Crackingstone)Announces Results of Airborne Surveys on the Black Lake & Cr...
3/19/2008(Way Lake) Announces Results of 2007 Way Lake Exploration Program
2/28/2008(Moore Lake) Provides Further Update on Athabasca Basin Exploration Acti...
2/12/2008(South Fork) Announces Drilling Program on South Fork Uranium Project, S...
9/20/2007(Bell Lake)Announces Drilling Program Underway at Bell Lake
9/18/2007(Crackingstone)Airborne Surveys on the Crackingstone, Black Lake & Newnham ...
Corporate news of JNR Resources
11/14/2012Announces Agreement to be Acquired by Denison Mines Corp.
8/13/2012(Way Lake)Announces an Inferred Mineral Resource Estimate for the Fras...
6/13/2012Announces Drilling Results at Black Lake Uranium Project
2/3/2012Provides Update on 2012 Athabasca Basin Exploration Activiti...
10/7/2011Announces Granting of Stock Options/Directors Re-Elected
6/29/2011Continues to Develop 3D Exploration Models to Target New Ura...
5/4/2011(Way Lake)Intersects New Area of Uranium Mineralization on Way Lake Ur...
7/6/2010RB Milestone Initiates Coverage of JNR Resources Inc.
2/3/2009Announces Proposed Conversion Of Preferred Shares
11/25/2008San Francisco Hard Assets Investment Conference
8/29/2008Provides Update on Newfoundland Uranium Exploration
8/21/2008Provides Update on Athabasca Basin Drilling Programs
5/15/2008Provides Update on Newfoundland Uranium Exploration
2/26/2008 Announces Further 2008 Exploration Activities
1/21/2008 Announces 2008 Winter Exploration Programs Underway
12/20/2007JNR Updates Progress on Newfoundland Uranium Projects.
12/19/2007 Announces Drilling Programs for 2008
11/1/2007 Announces Completion of 2007 Way Lake Exploration Program
10/30/2007 Announces Purchase of Two Diamond Drills
10/3/2007 and Altius Form Uranium Exploration Alliance
9/12/2007Announces Airborne Survey Underway on South Fork Uranium Pro...
8/21/2007 and Altius Resume Uranium Exploration at Rocky Brook
5/14/2007to Option South Fork Project to Uranium Power Corporation
3/22/2007Announces Closing of $16 Million Financing
2/26/2007Announces $15 Million Financing
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