NWT ANNOUNCES POSITIVE RESULTS FROM DRILLING AT NIGER URANIUM’S
IN GALL PROPERTY
Toronto – April 28, 2008 – NWT Uranium Corp. (TSX-V: NWT; OTCBB:
NWURF) is pleased to provide an update for its shareholders regarding the
exploration activities of Niger Uranium Limited, of which NWT is the largest
shareholder with a 32% ownership position.
In a press release dated April 17, 2008, Niger Uranium
revealed initial downhole radiometric logging results for the Phase 1 drilling
program at In Gall. Of note, drilling at target 17 has delineated a 16,400-foot
by 2,950-foot (5,000-meter by 900-meter) near-surface uranium-mineralized
layer, which remains open to the west. Radiometric probe data shows the layer
has an average thickness of 3.9 feet (1.2 meters) and a grade of 122 parts per
million (ppm) equivalent U3O8 (eU3O8)
based upon data from 32 boreholes drilled on a 820-by-1,300 foot (250-by-400
meter) grid.
The probe data indicates the grade and thickness of
the layer is consistent, with 32 intersections returning values ranging from 63
ppm eU3O8 over 2.2 feet (0.7 meters) to 177 ppm eU3O8
over 5.9 feet (1.8 meters). Results of x-ray fluorescence (XRF)
analysis on samples from the same boreholes indicate higher grades of up to 238
U3O8 over 6.5 feet (2.0 meters). Historical data suggests
the zone extends over 9.3 miles (15 kilometers) to the west of the area drilled
to date, highlighting the potential for what Niger Uranium classifies as a
“considerable open-pittable resource.”
The Phase 1 drill program commenced in January 2008
with an expected 32,800 feet (10,000 meters) planned and 13,450 feet (4,100
meters) completed to date. Drilling has focused on the above-mentioned target
17, where a mineralized layer measuring 2,952 feet (900 meters) wide, with a
minimum strike length of 16,404 feet (5,000 meters) and potential for
significant expansion extension to the west, has been identified. Niger
Uranium plans to complete several step-out fence lines to extend the currently
delineated mineralized area.
In late April, Niger Uranium expects to commence
drilling to follow up on surface grab samples within the In Gall and Irhazer
Licenses, which returned up to 0.98% U3O8 as reported on
January 29, 2008. Producing mines and deposits in Niger typically grade from 0.1% to
0.42% U3O8, with the highest grades being mined at
greater depths.
For further information on Niger Uranium’s 2008
exploration program and complete details of the initial downhole radiometric
drilling, please visit the company’s web site at www.niger-uranium.com, where the press
release from April 17, 2008 can be viewed.
NWT contributed the Irhazer and In Gall properties to
Niger Uranium, as detailed in a press release dated July 26, 2007.
Quality Assurance
Drilling is being carried out by Esafor Drilling under
the supervision of MSA Geo Services of South Africa. All boreholes are vertical
and drilled by the tri-cone method and probed using a
Robertson Geologging gamma tool, calibrated by Terratec Geoservices in Germany
to provide equivalent uranium grades expressed as eU3O8.
To support the probe data, borehole samples were sent to SGS Lakefield for XRF
analysis for U3O8. Samples were all one meter in length
and taken at mineralized intervals as indicated by the probe data. The XRF U3O8
grades are significantly higher than those obtained from radiometric probing
for the same intervals. This is most likely to be a result of positive
disequilibrium which results in the underestimation of grade if determined by
radiometric proving. If this is verified by additional drilling and sampling, a
significant increase of grades reported by radiometric probing can be expected.
Qualified Person
The information contained in Niger Uranium’s
announcement has been reviewed by Keith Kenyon (MSc. AUS IMM), Geochemical
Consultant to Niger Uranium. He is the Qualified Person overseeing the
geochemical exploration on the In Gall-Irhazer licenses. Mr. Kenyon has 36
years experience in gold and uranium exploration and geochemistry and he is
undertaking to act as a Qualified Person for the purposes of this announcement.
The chemical analyses were undertaken by SGS Minerals,
Southern Africa; 58 Melvill Street,
Booysens, Johannesburg,
2091, Tel. +27 (0)11 680-3466. This is a properly equipped, fully accredited
laboratory undertaking analyses and assays for the mining industry.
ABOUT NWT URANIUM:
NWT Uranium Corp. (www.nwturanium.com)
is an international resource exploration company with an experienced, highly
technical management team. Since its inception, NWT has concentrated on
the acquisition of properties with potential uranium targets. NWT Uranium
is listed on the NASD Bulletin Board under the symbol “NWURF” and
the TSX Venture Exchange under the symbol “NWT.”
FURTHER INFORMATION:
Marek J. Kreczmer, M.Sc., P.Eng.
President and CEO
NWT Uranium Corp.
(866) 437-9551
info@nwturanium.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain “forward looking
statements” within the meaning of the United States Private Securities
Litigation Reform Act of 1995. Without limitation, statements regarding
potential mineralization and resources, exploration results, and future plans
and objectives of the Company are forward looking statements that involve
various degrees of risk. The following are important factors that could
cause the Company’s actual results to differ materially from those
expressed or implied by such forward looking statements: changes in the
worldwide price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development,
construction and mining operations, the uncertainty of future profitability and
the uncertainty of access to additional capital.
Potential quantity and grade is conceptual in nature, there has been
insufficient exploration to define a mineral resource on any of the properties
referenced in this press release and it is uncertain if further exploration
will result in any such targets being delineated as a mineral resource.