Magnum Uranium Corp.

Published : March 28th, 2007

Signs Lye Uranium Project Drill Contract

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Keywords :   Canada | G Mexico | Idaho | Mexico | Uranium | Utah |





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Wednesday, March 28, 2007
Magnum Signs Lye Uranium Project Drill Contract


 

VANCOUVER, B.C. -- Magnum Uranium Corp. ("Magnum") is pleased to announce that it has signed a drill contract with Salisbury & Associates, Inc. for a planned Phase II drill program at its Lye Uranium Project in Fremont County, Wyoming. Magnum's Phase I drill program successfully expanded the known mineralization at the Lye Uranium Project and Magnum expects its Phase II drill program to expand the deposit.

Magnum has permitted a Phase II core drilling program to step-out on the known deposit. The drilling is targeted at confirming and expanding this mineralization from the surface to 150 feet deep. As previously announced (see Magnum Press Release dated March 14, 2007), Phase I drilling identified a northeast-trending zone of mineralization up to 40 feet thick, with the thickest intercepts still open at the northeast end of the deposit. Also included to be drill tested during the Phase II program is a new and sizeable radiometric anomaly located roughly 900 feet east of the existing deposit, which was discovered during a detailed ground scintillometer survey performed over the property during 2006. Timing of this drilling is planned for late April through July of this year.

"The ongoing strength of uranium prices continues to enhance the attractiveness and viability of our U.S. property portfolio, and the aggressive development of these properties will remain a focus of Magnum in 2007" said Craig Lindsay, President & CEO of Magnum.

The Company
Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, Magnum's primary property holdings are located in the Western United States, specifically Wyoming, Utah, Idaho, and New Mexico, and in Canada's Athabasca Basin.

ON BEHALF OF THE BOARD

"Craig T. Lindsay"
President & CEO

For additional information please contact:
Tel: 604.683.2507 Fax: 604.683.2506
E-Mail: info@magnumuranium.com



THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISSAPROVED OF THE CONTENTS HEREIN.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


 
 
 

 
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Magnum Uranium Corp.

PRODUCER
CODE : MM.V
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Magnum Uranium is a uranium exploration company based in Canada.

Magnum Uranium produces uranium, copper and tin in USA, and holds various exploration projects in USA.

Its main asset in production is SAN RAFAEL in USA and its main exploration properties are MARYSVALE, STANLEY URANIUM and 35/75 in USA.

Magnum Uranium is listed in Canada and in United States of America. Its market capitalisation is CA$ 5.2 millions as of today (US$ 5.2 millions, € 3.7 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.07, and its highest recent level on May 04, 2012 at CA$ 4.36.

Magnum Uranium has 22 268 000 shares outstanding.

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Financings of Magnum Uranium Corp.
3/2/2007Completes Private Placement
Project news of Magnum Uranium Corp.
5/22/2009(San Rafael)Files Amended 43-101 Technical Report on Its Deep Gold Depos...
1/8/2009(San Rafael)Initiates Drill Program And Announces Earn-In Of 100% Intere...
11/12/2008(Marysvale)Drills Bulk Tonnage Mineralization at Marysvale
9/19/2008(San Rafael)Issues NI 43-101-compliant Uranium Resource on the Deep Gold...
7/31/2008(San Rafael)Announces San Rafael Project Update
4/14/2008(San Rafael)Commences San Rafael Drill Program
3/25/2008Issues First NI 43-101-Compliant Uranium Resource on a Porti...
1/17/2008Announces High-Grade Phase II Drill Results from San Rafael ...
8/10/2007Announces High-Grade Drill Results from San Rafael Project, ...
3/28/2007Signs Lye Uranium Project Drill Contract
Corporate news of Magnum Uranium Corp.
2/12/2008Uranium Completes 80% Earn-in on San Rafael Joint Venture
11/26/2007Discovers Significant Radon Anomaly at 35-75 Uranium Propert...
10/25/2007 Commences Phase II Drilling at San Raphael
10/18/2007 Discovers Sizeable Radon Anomaly at Marysvale
8/23/2007Acquires Significant San Raphael Data Package
6/12/2007Begins Drilling at San Raphael Uranium Project, Utah
5/16/2007Commences Phase II Wyoming Drilling
5/3/2007Announces Joint Venture with Triex in Athabasca
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