JNR Provides Update on Newfoundland Uranium Exploration



    
    TSXV:JNN
    Email: info@jnrresources.com
    Website: www.jnrresources.com
    

    SASKATOON, SK, Aug. 29 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the
'Company') is pleased to provide the following update on its uranium
exploration activities in central and western Newfoundland. The Company is
actively exploring two projects: Topsails and Rocky Brook.
    The 278,000-hectare Topsails project is a 50/50 alliance between the
Company and Altius Resources Inc. (jointly the 'Companies'), which was
established to explore for volcanic-hosted uranium deposits in a defined area
of west-central Newfoundland near the mining community of Buchans.
    Analytical results from a property-wide lake sediment geochemical survey
completed this spring indicate anomalous uranium values with associated
molybdenum and fluorine in a number of areas, the largest being 20 by 10
kilometres in size. With background values less than 10 ppm, anomalous uranium
values of greater than 30 ppm to a maximum of 535 ppm have been identified in
more than 30 lakes. These samples combined with historical surveys highlight
four distinct areas of extensive uranium-molybdenum enrichment. The
geochemically anomalous lakes lie within or adjacent to granitic rocks related
to the caldera complexes targeted for exploration, and confirm the
prospectivity of these rocks for hosting volcanic-related uranium
mineralization.
    It should be noted that lakes in the vicinity of uranium deposits in the
prolific Athabasca Basin are commonly anomalous in uranium and pathfinder
elements associated with the mineralization. Molybdenum and fluorine are
common pathfinder elements diagnostic of volcanic-hosted uranium deposits.
Furthermore, volcanic-hosted uranium deposits are a significant source of
high-tonnage moderate-grade uranium, one of the best examples of which is the
Streltsovka caldera, Russia's largest uranium resource.
    The Companies have also received and interpreted the preliminary data
from a detailed 17,500 line-kilometre airborne radiometric and magnetic
survey, and have identified fourteen areas for immediate follow-up. To that
end, an extensive prospecting and geological mapping campaign was initiated in
early July and will continue through to late October. The focus of the
campaign is on the anomalous areas identified by the airborne and lake
sediment surveys.
    The Companies have also completed a property-wide water sampling program
on the Rocky Brook project located in western Newfoundland. Exploration at
Rocky Brook is focused on the discovery of bedrock sources for two discrete
high-grade boulder clusters in glacial till, with reported historical assays
ranging from 1% to more than 10% U(3)O8, as well as very high-grade silver
contents. JNR has an option to earn a 70% interest in this project from
Altius.
    The water sampling program was designed to assist in targeting future
drill campaigns using innovative geochemical procedures and modern analytical
techniques in the primarily bog-covered terrain of the prospective Deer Lake
Basin. Analytical results have been submitted to a known expert in the
interpretation of geochemical data from this sample medium for review and
recommendations.
    Drilling to date, including the 82-hole (2,482 metres) program in 2007,
has identified two areas of low level anomalous radioactivity at or near the
overburden-bedrock interface. Both areas lie proximal to the high-grade
boulder clusters. Several geochemically-enriched fault structures and/or redox
alteration fronts thought to possibly control the high-grade uranium-silver
mineralization have also been defined. Structural interpretation and the
development of a 3D model utilizing all downhole data is in progress and
expected to be completed prior to the next drilling campaign.
    Anomalous uranium, copper and silver values were obtained in drill core
from several of the 2007 drill holes at Rocky Brook, the most significant of
which are narrow intervals in four holes drilled in the vicinity of the Birchy
Hills and Wigwam Brook boulder fields. RB-07-144 and RB-07-152, drilled up ice
of the Birchy Hill showings, intersected 0.5-metre intervals returning
45.2 ppm U, 202 ppm Cu, 4.9 ppm Ag and 15.3 ppm U, 302 ppm Cu and 6.9 ppm Ag,
respectively. RB-07-192 and RB-07-196, drilled in the vicinity of the Wigwam
Brook mineralized boulder field, intersected 0.5-metre intervals of 49.9 ppm
U, 5.2 ppm Ag and 62.7 ppm U, 310 ppm Cu, respectively.
    Further results will be released as they become available.
    JNR is led by a highly experienced management team with proven discovery
success in uranium exploration. In addition to its projects in Newfoundland,
the Company has an interest in 13 properties totalling some 357,500 hectares
of highly prospective ground in the renowned Athabasca Basin of northern
Saskatchewan.
    JNR's Vice-President of Exploration, David L. Billard, PGeo, is the
qualified person responsible for the technical data presented in this release.
All technical information for the Company's exploration projects is obtained
and reported under a formal quality assurance and quality control program,
details of which are presented on the Company's website at:
www.jnrresources.com/i/pdf/JNR-QAQC.pdf. 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

    Rick Kusmirski
    President & CEO

    The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. Statements contained in this news release that
are forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Such risks and other factors include, among
others, risks related to the accessibility to the property; operational risks;
weather; availability of equipment and personnel; changes in project
parameters as plans continue to be refined; delays in obtaining governmental
approvals; delays or failure in obtaining financing on acceptable terms.
Although the Company has attempted to identify important factors that could
cause actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements.

    %SEDAR: 00003829E




For further information:

For further information: JNR Resources at (306) 382-2211 or (877)
567-6463

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