Uranium in the Aricheng deposits is generally contained in near-vertical shoots in which uranium is typically concentrated in 200m long segments of the vein-breccias. The uranium-bearing zones are associated with albite, chlorite and hematite alteration. None of the deposits have been completely drilled out and mineralization is still open at depth and along strike.
Exploration Plan - Field evidence suggests that uranium in the Aricheng area of the Kurupung Project consists of one large system of linked structures, which could have positive implications for resource growth potential. Most uranium found to date, including the Aricheng South, Aricheng West, Aricheng North and Aricheng C resources, lies within weakly magnetic corridors. This feature of the Kurupung Project provides a simple exploration tool for the identification of other targets which are currently undergoing field investigation with the aim of adding to the inventory of mineralized structures for future resource expansion.
The NI 43-101 Technical Report is dated June 26, 2012 and titled "Technical Review and Mineral Resource Estimates of the Aricheng C and Aricheng West Structures, Kurupung Uranium Project, Mazaruni District, Guyana for U3O8 Corp.", which formalizes the reporting of the resources announced in the May 23, 2012 press release. A lower base case cut-off grade of 0.05% U3O8 was used for reporting the resources. Other inputs used in the estimation process are detailed in the technical report which can be viewed on SEDAR at www.sedar.com. The report was undertaken by Al Workman, P, Geo., Senior Geologist and Vice-President, and Kurt Breede, P. Eng., Senior Resource Engineer and Vice President, Marketing for Watts, Griffis and McOuat Limited, both Qualified Persons ("QP") within the definition of that term in NI 43-101 of the Canadian Securities Administrators. Messrs. Workman and Breede have verified and approved the technical information relating to the Aricheng resources in this release.
All other scientific and technical information contained in this press release has been prepared under the supervision of, and verified by Dr. Richard Spencer, P. Geo, President & CEO of U3O8 Corp., a QP within the meaning of NI 43-101..
About U3O8 Corp.
U3O8 Corp.is a Toronto-based exploration company, focused on exploration and resource expansion of uranium and associated commodities in South America - a promising new frontier for uranium exploration and development. U3O8Corp. has one of the most advanced portfolios of uranium projects in the region comprising NI 43-101 resources in Guyana, Argentina and Colombia.
(1) Mineral resources - Berlin Project - see the March 2, 2012 technical report: "Berlin Project, Colombia - National Instrument NI 43-101 Report.." Laguna Salada Project - see the May 20, 2011 technical report: "Laguna Salada Project, Chubut Province, Argentina: NI 43-101 Technical Report: Initial Resource Estimate." The above technical reports are available on U3O8 Corp's web site at www.u3o8corp.com and on SEDAR at www.sedar.com.
Forward-Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of U3O8 Corp., including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, and the uncertainty of obtaining additional financing and exploration risk. There is no assurance that the Kurupung resource will grow to a similar size as peer deposits and that other targets in the Kurupung will add to U3O8 Corp's resource base. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
For information, please contact:
U3O8 Corp., (416) 868-1491
Nancy Chan-Palmateer Richard Spencer
Vice President, Investor Relations President & CEO
nancy@u3o8corp.com richard@u3o8corp.com
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