Trading Symbol TSX-V - ESO
Frankfurt - E2G
VANCOUVER, Jan. 21 /CNW/ - ESO Uranium Corporation (TSX-V: ESO), the
Company, and Fission Energy Corporation (TSX-V: FIS) (Fission) are pleased to
announce that the companies have signed a joint venture agreement to include
claims staked in late 2007 by the companies on the southern extension of their
Hook Lake and Patterson Lake claims. The joint venture is a 50%-50%
participation by the companies and includes 4 claims (approximately 4770
hectares) on the southern margin of the Athabasca Basin in the Broach Lake -
Patterson Lake area. The area is accessible by road and close to several
established bush camps.
A Megatem airborne magnetic and deep penetrating electromagnetic survey
of 167 line km was completed over the claims by Fugro Airborne Surveys in
December, 2007 to cover southerly extensions of electromagnetic conductors
identified by earlier work in basement rocks underlying the Athabasca
sedimentary basin to the north. The identified conductors are shown in a
Saskatchewan Geological Survey compilation to extend SSW onto the Joint
Venture property in a band of conductors referred to as the Carter Corridor.
The Carter Corridor has been under active exploration by the Purepoint Uranium
Group working on the contiguous Hook Lake project which is under option from
Cameco and Areva.
The results of the recent Megatem survey are being processed and will
form a basis for developing ground targets for further work by the Joint
Venture in 2008. Target depths for uranium mineralization are expected to be
shallow (less than 300 meters depth) in this area which has some overlapping
cover of sediments of the Prairie sedimentary basin.
For reference, the current spot price quoted by uxc.com for uranium oxide
is US$89.50 per pound of U3O8; an assay reported as 1.0% of U3O8 is equal to
20 pounds of uranium oxide per short ton - the conversion of percent metal or
metal oxide from percent to pounds per short ton is done by multiplying the %
value by 20.
On behalf of the Board of Directors of ESO Uranium Corp.
Vice President, Exploration
Please refer to the ESO Uranium website for further and updated
The Toronto Venture Exchange has not reviewed nor accepted responsibility
for the adequacy or accuracy of the contents of this news release which has
been prepared by management. Statements contained in this news release that
are not historical facts are forward looking statements as that term is
defined in the private securities litigation reform act of 1995. Such forward
looking statements are subject to risks and uncertainties which could cause
actual results to differ materially from estimated results. Such risks and
uncertainties are detailed in the Company's filing with the Securities and
For further information:
For further information: Tom Corcoran or Bob Meister, ESO Uranium Corp.,
Vancouver, BC, Phone: (604) 629-0293, Toll Free: 1-866-629-8368, Email: