Re: News Releases - Thursday, August 21, 2008
JNR Provides Update on Athabasca Basin Drilling Programs
Saskatoon, SK, August 21, 2008 - JNR Resources Inc. (TSXV:JNN) (the
'Company') is pleased to provide the following update on the 2008
summer drilling programs that have been completed or are still underway
in the Athabasca Basin.
Two drills are currently operating on the Company's 100% owned Way Lake
uranium project, located 55 kilometres east of the Key Lake uranium
mine in the Athabasca Basin of northern Saskatchewan. The Way Lake
project comprises 17 contiguous claims totaling 71,795 hectares. The
program is budgeted at $2.5 million and will consist of a planned
10,000 metres of diamond drilling, as well as additional geological
mapping and prospecting.
The initial focus of attention is some 60 kilometres of arcuate and
structurally displaced EM conductors located in the southwest portion
of the property (Walker Lake area), specifically those segments that
have the geological requirements essential to host substantial
concentrations of uranium mineralization. A major prospecting campaign
completed during the summer of 2007 identified uranium mineralization
in several outcrop showings coincident with this conductive trend. The
most significant are the Walker Lake showings which occur over a
3.0-kilometre long by 1.0-kilometre wide area. Grab samples returned
from 0.017 to 0.079% U3O8 (Reference: March 19, 2008 news release).
The drilling program is also testing three additional showings (West
Way (up to 0.475% U3O8), EWA (up to 0.492% U3O8) & Nob Hill (0.130% to
0.141% U3O8)) discovered by the 2007 prospecting campaign and will
continue drill testing the Hook Lake area where two grab samples
collected from a massive pitchblende vein in 2006 returned 40.1% and
48% U3O8 respectively (Reference: October 12, 2006 news release).
The Company's recently purchased third diamond drill is operating on
the 100% owned Yurchison Lake property. This project consists of four
mineral claims totaling 12,660 hectares and is located along Highway
#105, 100 kilometres south of the Rabbit lake uranium mine and mill.
Drill targets include a multitude of well-defined electromagnetic (EM)
conductors, some of which correlate with geophysically interpreted
structural features. Prospecting programs on the property over the past
two summers identified significant uranium and molybdenum
mineralization in both outcrop and float samples, including uranium
values of up to 0.30% U3O8.
At Moore Lake, project operator Denison Mines Corp. reports that the
summer diamond drilling program is nearing completion. In total,
thirteen holes comprising some 5,500 metres will have been completed on
the project this year. The primary focus was following up on a number
of geological and geophysical targets proximal to the Maverick Zone
JNR has an interest in thirteen projects totaling 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. All technical information for the Company's exploration
projects is obtained and reported under a formal quality assurance and
quality control program, details of which are presented on the
Company's website at: www.jnrresources.com/i/pdf/JNR-QAQC.pdf. 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
President & CEO
For further information contact JNR Resources at 306.382.2211 or
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release. Statements contained in this news
release that are forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such risks and
other factors include, among others, risks related to the accessibility
to the property; operational risks; weather; availability of equipment
and personnel; changes in project parameters as plans continue to be
refined; delays in obtaining governmental approvals; delays or failure
in obtaining financing on acceptable terms. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
Copyright (c) 2008 JNR RESOURCES INC. (JNN-TSXV) All rights reserved.
For more information visit our website at http://www.jnrresources.com/
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