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JNR Provides Update on Newfoundland Uranium Exploration
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Saskatoon, SK, May 15, 2008 - JNR Resources Inc. (TSXV:JNN) (the
'Company') is pleased to provide the following update on its uranium
exploration activities in central and western Newfoundland. The Company
is actively exploring two projects; Topsails and Rocky Brook.
The Topsails uranium project is an alliance between the Company and
Altius Resources Inc. ('Altius') (jointly the 'Companies'). The
alliance was established to explore for volcanic-hosted uranium
deposits in a defined area in central Newfoundland near the mining
community of Buchans. The Companies staked over 2,674 square kilometres
(267,425 hectares) in one of the largest staking campaigns ever
undertaken in eastern Canada (Reference: October 3, 2007 news release)
and have recently optioned a further 10,697 hectares of adjoining
property.
The 2008 program is budgeted at $1.7 million and includes a recently
completed property-wide lake sediment sampling survey and a detailed
17,500 line-kilometre airborne radiometric and magnetic survey. An
extensive summer long prospecting and geological mapping campaign is
also planned. It will focus on anomalous areas in order to identify
targets for drill follow-up, the timing of which will be decided upon
at a later date.
Geologically, the Topsails project covers felsic volcanic and related
intrusive rocks of Silurian to Devonian age, including much of the
Topsails Igneous Suite and the Springdale Group. These geological units
feature very large areas of coincident anomalous uranium, molybdenum
and fluorine values in lake sediment samples. Volcanic-hosted uranium
deposits are a significant source of high-tonnage moderate-grade
uranium, one of the best examples of which is the Streltsovka caldera,
Russia's largest uranium resource.
The 2007 summer/fall exploration program on the Rocky Brook project
consisted largely of
Diamond drilling with 82 holes completed totalling
2,482 metres. Drilling was focused on the Wigwam Brook and Birchy Hill
Brook areas, where previous drilling programs identified anomalous
radioactivity including narrow mineralized intercepts. A trenching
program was also carried out in the Wigwam Brook area.
Located in western Newfoundland, exploration on the Rocky Brook project
is focused on the discovery of bedrock sources for two discrete
high-grade boulder clusters in glacial till, with reported historical
assays ranging from 1% to more than 10% U3O8 as well as very high-grade
silver contents. JNR has an option to earn a 70% interest in the Rocky
Brook project from Altius.
Analytical results from the 2007 program are pending. Planning of the
2008 exploration program is underway.
JNR is led by a highly experienced management team with proven
discovery success in uranium exploration. In addition to its projects
in Newfoundland, the Company has an interest in thirteen properties
totalling more than 362,000 hectares of highly prospective ground in
the renowned Athabasca Basin of northern Saskatchewan.
JNR's Vice-President of Exploration, David L. Billard, PGeo, is the
qualified person responsible for the technical data presented in this
release. 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
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
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Copyright (c) 2008 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
For more information visit our website at http://www.jnrresources.com/
or send mailto:info@jnrresources.com
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