KIRKLAND LAKE, ON, July 30 /CNW/ - Uranium City Resources Inc.
(TSXv:UCR), ("UCR" or the Company), is pleased to provide the following update
on its Sheffield-Sops Arm joint venture project with Metals Creek Resources
An airborne radiometric and magnetic survey has now been completed over
the Sheffield Lake/Sops Arm area, located in north-central Newfoundland. This
project consists of 1586 claim units in two packages and is a joint venture
with Metals Creek Resources (TSX.V:MEK), under which Uranium City Resources
can earn a 50% interest in the property for expenditures of $1.4 million over
3 years. The claims cover a portion of an extensive felsic volcanic unit
interpreted as a collapsed caldera complex. This area has seen a high level of
exploration over the past two years driven by the discovery of new uranium
showings and extensive land acquisition by a number of exploration companies
including Bayswater Uranium, Altius Resources and Spruce Ridge Resources.
Preliminary results from the Sops Arm portion of the airborne survey have been
received and over 50 priority Uranium targets have been identified. Ground
follow-up prospecting and sampling has commenced on these targets.
Wayne Reid, PGeo, Vice President of Corporate Development for the Metals
Creek Resources and a qualified person as defined in National Instrument
43-101, "Standards of Disclosure for Minerals Projects", is responsible for
this release, and supervised the preparation of the information forming the
basis for this release.
Forward looking statements:
This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond UCR's control or prediction and could cause actual events or results to
differ materially from those anticipated in such forward-looking statements.
Although UCR believes that the assumptions inherent in the forward-looking
statements are reasonable, undue reliance should not be placed on these
For further information:
For further information: Malcolm Bucholtz, President & CEO, T: (306)
525-0852, E: firstname.lastname@example.org