ESO Uranium Files NI 43 101 Compliant Report on SEDAR for Mikwam Gold Project, Ontario



    Trading Symbol - ESO

    VANCOUVER, March 2 /CNW/ - ESO Uranium Corporation ("the Company")
ESO-TSX.V announces that it has filed a NI 43 101 compliant report on SEDAR
prepared by Caracle Creek International Consulting (CCIC). CCIC managed the
2005-2006 diamond drill program carried out on the Mikwam gold project (100%
owned by ESO) in Ontario. Expenditures of over $1.5 million were made to carry
out two phases of diamond drilling. Some fill-in and step out drilling was
carried out to examine a historical gold resource that is still open to depth
and along strike.
    The property covers approximately 26,885 acres along the western
extension of the Casa Berardi Deformation Zone that extends from the
Quebec-Ontario border into Noseworthy and Bradette Townships.
    The Casa Berardi Deformation Zone is host to the Casa Berardi West gold
mine that Aurizon Mines Ltd has placed into production in Quebec on claims
adjoining the Mikwam property. In a Feb. 1st 2007 news release, Aurizon
indicated that the new mine would produce 1,092,000 ounces of gold from
4.8 million tonnes during the initial 6 year operating plan with an estimated
cash cost of US$250 per ounce. Recent exploration success on the Casa West
property indicates that there is still further potential for additional
mineralization close to the mine infrastructure.
    More than $8 million dollars has been spent on exploration on the Mikwam
claims, principally by Newmont Canada Ltd and Royal Oak Mines Ltd. The main
target mineralization of this new work is gold veining within a strongly
folded iron formation. The work by Royal Oak identified an historical gold
resource in this gold veining area, identified as the A8 3200 zone. K. Jensen
wrote in his NI 43 101 compliant Technical Review of the Mikwam Property,
dated September 29th, 2003: "In an internal report H. Miree noted that the
area of the A8 3200 was insufficiently delineated to determine a proven or
probable ore reserve calculation. The report indicated that a "geologically
inferred resource estimated for this zone is 1,505,000 tonnes (1,657,740 tons)
grading 3.21 g/t (0.094 oz/ton), thus the contained gold totals 155,857 oz.
This estimate has not been recalculated by the writer and is considered as
"exploration information" only and not a "resource" in the terms required by
NI 43 101."
    The new NI 43 101 compliant report by independent Qualified Persons from
Caracle Creek International Consulting Inc (CCIC) includes calculated
resources based on conservative computer modeling that are indicated in the
following table. The report also indicates that it is estimated that this new
"resource estimate can be expanded by a minimum of 35% with infill drilling".

    
    Mikwam A8 3200 Vein Mineral Resource Estimate at 1.0 g/t cut-off

    Category        Tonnes         Gold g/t        Contained Ounces
    Indicated       238,000          3.23               25,000
    Inferred        879,000          2.42               68,000

    The statement that the new "resource estimate can be expanded by a
    minimum of 35%" suggests that the following potential may be achieved if
    the recommended drill program is undertaken:

    35% additional
    From infill
     drilling       390,950          2.59(*)            32,555

    (*) Weighted average of indicated and inferred grades
    

    The totals above approximate to the non-compliant historical polygonal
inferred resource of H. Miree referred to above, however, the reader is
cautioned that such totals do not qualify as a Resource under NI 43 101. With
gold breaking out to new highs on February 26th 2007 (over US$680/oz), ESO
plans to carry out a full review of the digitized data sets generated from the
work carried out by CCIC for the purpose of planning the next phase of work.

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

    "Ben Ainsworth"
    ---------------------------
    Vice President, Exploration

    Please bookmark this site for future reference and ongoing updated
information.

    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
Exchange Commission.





For further information:

For further information: For corporate communications please contact:
Tom Corcoran or Bob Meister, ESO Uranium Corp., Vancouver, BC, Phone: (604)
629-0293, Email: info@esouranium.com

Organization Profile

Alpha Minerals Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890