Keywords : Market | Report | Uranium |

Re: News Release - Thursday, February 20, 2014
Title: Update on Hatchet Lake Uranium Project, Athabasca Basin, Saskatchewan

NR: 14-02

Anthem Resources Inc. (TSX.V: AYN; OTCQX: VAERF) ("Anthem" or the "Company") is pleased to report that a 10-hole, 2025 m drill program has been completed on the Richardson Lake trend on the Hatchet Lake property, located on the eastern margin of the Athabasca basin, Saskatchewan. The program was designed to follow-up on promising drill results from previous campaigns, and is part of a 50-50 joint venture with Denison Mines Corp. (TSX: DML). For more information see the Company's news releases of January 20, 2014, April 24, 2013 and May 16, 2013. Maps and sections, including the 2014 drill plan, are available on the company website at www.anthemresourcesinc.com.

Preliminary results of the drilling have been received from Denison, the project operator. Although no significant mineralization was intersected, four of the holes intersected anomalous radioactivity, as determined by down-hole probe. The radioactive sections occur at the unconformity and in the basement at vertical depths of approximately 100 to 140 m. Of note, hole HL-14-19 intersected a 5.6 m wide (true width unknown) weakly radioactive zone associated with a graphitic fault zone directly beneath the unconformity. This new hole intersected the unconformity roughly 10 m west of 2013 hole RL-13-16 which returned an interval of 0.45% U₃O₈ over 2.3 m, beginning at 124.0 m down the drill hole (approximately 112 m vertical depth below surface). Assays from the 2014 holes will be released as soon as they are received.

In addition to the radioactivity, the 2014 current drilling program encountered many features indicative of a prospective environment for large, high-grade Athabasca-type uranium deposits including strong fracturing, de-silicification (sanding) and clay and hematite alteration in the sandstone, and weak to strong chlorite and clay alteration, graphitic fault zones and sulphide mineralization in the basement.

As reported earlier, the JV partners approved a $750,000 budget for drilling on the Hatchet Lake property. Anthem elected to not contribute to the project and was diluted to a working interest of approximately 41%.

Separately, Anthem agreed to sell its 100%-owned Fir Island property, on the north margin of the Athabasca Basin, to Forum Uranium Corp. (TSX.V: FDC), in return for 300,000 common shares of Forum and a 1.5% NSR with a 1% buyback provision for $1 million. The shares will be subject to a four-month hold.

The technical information in this news release has been reviewed by Michael S. Cathro, PGeo, Anthem's vice-president of exploration and a qualified person as defined by National Instrument 43-101. Chemical assays for uranium were completed at SRC Geoanalytical Laboratories in Saskatoon. For a description of the quality assurance program and quality control measures applied by Denison, please see Denison's annual information form dated March 13, 2013, filed under the company's profile on SEDAR.

About Anthem Resources

Anthem Resources Inc. is a Canadian exploration company, which holds a number of properties, joint ventures and royalty interests. Anthem also owns a portfolio of securities with a market value of approximately $5.5 million. Anthem's business plan is to continue to grow shareholder value through its participation in exploration projects throughout North America.

On Behalf of the Board of Directors of

ANTHEM RESOURCES INC.

Walter Coles Jr., President & CEO

Athabasca Potach Inc.


	CODE : API.TO

Follow and Invest

Add Alert	Add to Watchlists	Add to Portfolio	Add Note

Profile Market
Indicators VALUE :
Projects & res.Press
releases Annual
report RISK :
Asset profile Contact Cpy

Athabasca is a exploration company based in Canada.

Athabasca holds various exploration projects in Canada.

Its main exploration property is THE BURR PROJECT in Canada.

Athabasca is listed in Canada. Its market capitalisation is CA$ 315.8 millions as of today (US$ 309.2 millions, € 231.9 millions).

Its stock quote reached its highest recent level on May 16, 2008 at CA$ 9.47, and its lowest recent point on December 24, 2008 at CA$ 0.75.

Athabasca has 37 824 000 shares outstanding.

Legends
	Production
	Mine development
	Discovery
	Exploration
	Past producer
On Google Earth, click on the button, to show property information, and access to project page or company page.