More high grade uranium boulders found in trenching programme, Patterson Lake South JV, Saskatchewan

Trading Symbol TSX-V - ESO
Frankfurt - E2G

VANCOUVER, Nov. 1, 2011 /CNW/ - ESO Uranium Corp. (TSX-V: ESO), (the "Company" or "ESO") and its 50% Joint Venture (JV) partner Fission Energy (TSX-V: FIS), are pleased to announce that the first phase of work resulted in the completion of 18 trenches. Line cutting is now underway for the second phase of work.  Ground geophysical surveys including Max Min EM and Induced Polarization are expected to start this week. This trenching has started the detailed search for the bedrock source of the large uranium boulder field discovered by the Joint Venture in June 2011 (see news release dated July 27, 2011).

  • 49 radioactive boulders located in and around the area of trenching

  • 19 off-scale boulders & 8 trenches with significant radioactivity

  • Boulders increasing in size to the east, suggesting easterly source

  • Boulders still indicating that a window into Archean Basement is  the target

  • Property extends well beyond probable source area

The uranium boulders discovered in June were all associated with basement rocks, schists, psammites and granulites, and not Athabasca sandstones or conglomerates. These boulders were plucked from a basement source by ice scouring the Archean basement rocks. In this new work, the largest off-scale boulder collected consisted of massive pitchblende with yellow secondary uranium minerals; it had dimensions of 25x30x40 cms (10x12x 16 inches).  These larger blocks suggest that the bedrock source is close and well within the claims.

The boulder field discovery was built out of the work completed by Canadian Occidental in the late 1970s. The Patterson Lake South Joint Venture carried out the further work including specialized radiometric and magnetic airborne surveys, followed by ground work including radon and radiometric surveys, that enabled the discovery. "Boots on the Ground" were a key element to the actual discovery of an area which had been recognized in an assessment report of CanOxy. It was commented in this report that a zone that had been located  with elevated  surface radioactivity and several radon hot spots was probably due to "exotic" boulders in the till.

The Joint Venture recognizes the nature of the boulder cluster and the association with Archean rock types as being strong evidence to point to a nearby source in rocks of the Archean Basement. Recent traverses on the northeast side of the claim block have located no Archean boulders on the surface or in till. This suggests that there is no northeasterly extension of the erosional window into the older basement rocks.

Other companies currently active in the area include Titan Uranium Inc (TSX.V:TUE) who hold a claim block that straddles the Patterson and the Derkson Conductor Corridors  and which occupies the area on the north side of the ESO-Fission JV claims.

In the area of the ESO-FIS JV claims, the Patterson Conductor Corridor runs along the boundary zone between the Clearwater and Western Granulite Domains. According to assessment reports submitted by SMDC, the Crown Corporation predecessor company of Cameco (TSX:CCO), this is interpreted to have had a favourable geological history, analogous to the highly productive Wollaston Domain along its boundary with the Mudjatik Domain in the East Athabasca Basin.

A map of the Patterson Lake South Property can be found on the Company's website at www.esouranium.com

Benjamin Ainsworth, P.Eng. BC, is the Qualified Person responsible for the technical disclosure contained in this news release.

On behalf of the Board of Directors of ESO Uranium Corp.

"Ben Ainsworth"  

Vice President, Exploration

THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.   NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADDEQUACY OR ACCURACY OF THIS RELEASE.

This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements".  These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the Patterson Lake Property. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially.  For these reasons shareholders should not place undue reliance on such forward-looking information.

United States residents are cautioned that some of the information that may be published by ESO Uranium Corp. may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.

SOURCE ESO Uranium Corp.

For further information:

For corporate communications please contact:
            Robert (Bob) Meister
ESO Uranium Corp.
Vancouver, BC
Phone: (604) 629-0293
Toll Free: 1-866-629-8368
Email:   info@esouranium.com

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ESO Uranium Corp.

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