TORONTO, Jan. 10 /CNW/ - NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is
pleased to update its shareholders regarding the activities of Niger Uranium
Corp., of which NWT is the largest shareholder.
Niger Uranium's 2007-2008 field program at Irhazer and In Gall commenced
in November, according to a quarterly filing issued in late December by the
company. Work will be completed in stages, with the first phase scheduled to
include 8,200 feet (2,500 meters) of diamond drilling to test prospective
targets located along structures that host existing uranium mines. The second
phase is designed to follow-up on earlier results and is scheduled to include
up to 24,600 feet (7,500 meters) of additional drilling.
Concurrent with the drill program, Niger Uranium plans to trench and
sample several targets to test for mineralization, geology and structure. In
addition, grids indicating historical drill sites will be re-established and,
where possible, will be tested by down-hole radiometrics.
"NWT is pleased with the aggressive program underway in Niger," said
Marek J. Kreczmer, President and CEO of NWT Uranium. "As Niger Uranium's
largest shareholder, we look forward to the further advancement of our
NWT contributed the Irhazer and In Gall properties to the Niger Uranium
joint venture. The two properties have returned uranium values ranging from
0.22% U(3)O(8) to 1.0% U(3)O(8) from five surface rock samples collected from
outcrops, as reported in a press release on May 29, 2007, available on SEDAR
at www.sedar.com. These samples were submitted for re-analysis after they
exceeded the detection limits of uranium tests routinely used to analyze
samples from Niger. Producing mines and deposits in Niger typically grade from
0.1% to 0.42% U(3)O(8), with the highest grades being mined at greater depths.
ABOUT NWT URANIUM:
NWT Uranium Corp. (www.nwturanium.com) is an international resource
exploration company with an experienced, highly technical management team.
Since its inception, NWT has concentrated on the acquisition of properties
with potential uranium targets. NWT Uranium is listed on the NASD Bulletin
Board under the symbol "NWURF" and the TSX Venture Exchange under the symbol
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
This news release includes certain "forward looking statements" within
the meaning of the United States Private Securities Litigation Reform Act of
1995. Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the Company
are forward looking statements that involve various degrees of risk. The
following are important factors that could cause the Company's actual results
to differ materially from those expressed or implied by such forward looking
statements: changes in the worldwide price of mineral commodities, general
market conditions, risks inherent in mineral exploration, risks associated
with development, construction and mining operations, the uncertainty of
future profitability and the uncertainty of access to additional capital.
Potential quantity and grade is conceptual in nature, there has been
insufficient exploration to define a mineral resource on any of the properties
referenced in this press release and it is uncertain if further exploration
will result in any such targets being delineated as a mineral resource. The
technical information which forms the basis for the disclosure regarding the
Irhazer and In Gall properties contained herein was prepared by Graham
Greenway, an independent consultant, who is qualified person within the
meaning of National Instrument 43-101 of the Canadian Securities
For further information:
For further information: Marek J. Kreczmer, M.Sc., P.Eng., President and
CEO, NWT Uranium Corp., (866) 437-9551, firstname.lastname@example.org