SASKATOON, SK, Sept. 12 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the
'Company') has been advised by the project operator, Uranium Power Corp.
(TSXV:UPC), that Fugro Airborne Surveys has been contracted to carry out an
airborne electromagnetic and magnetometer survey over the South Fork uranium
project using the TEMPEST system. In total, just over 3,300 line-kilometres
will be flown with a scheduled start up date of late September 2007.
The project is located in the east Cypress Hills area of southwestern
Saskatchewan. The target is Eocene age paleochannels, which exhibit
significant similarities to those which host uranium mineralization in the
Powder River Basin uranium district of Wyoming. The Powder River Basin
contains numerous roll-front uranium deposits which are amenable to in-situ
The TEMPEST system has been demonstrated to be effective in mapping
channels and will be instrumental in planning further work. The results of
this survey will be compiled with old drill data from the late 1970s and early
1980s and used to effectively design an extensive drill program planned for
the spring of 2008.
The South Fork project is under option to Uranium Power Corp. (UPC). The
terms of the agreement call for UPC to reimburse JNR for prior expenditures,
not to exceed $100,000, and to carry out $1,500,000 of exploration by
January 25, 2009 to earn a 50% interest in the project. UPC can then increase
its interest to 65% by spending an additional $1,000,000 on exploration
activities by January 25, 2011.
JNR's Vice-President of Exploration, David L. Billard, PGeo, is the
qualified person responsible for the technical data presented in this release.
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
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
For further information:
For further information: JNR Resources, at (306) 382-2211 or (877)