VANCOUVER, BRITISH COLUMBIA, March 1 /CNW/ - Thunder Sword Resources Inc.
("the Company") (TSX VENTURE: THU) is please to provide an update on its
American/Botham Lake Prospect and comments below on rising uranium prices.
Botham Lake Prospect - Completion of Ground Geophysics
Patterson Geophysics has advised the Company that detailed ground
geophysics that commenced in early-February 2007, on its Botham Lake property
has been completed. The Company anticipates receiving the interpretation
report relating to this geophysical program within the next few weeks, at
which time the Company, in conjunction with its joint venture partners, will
review such information and thereafter proceed to design and implement a drill
program to test some of the numerous conductors earlier identified on the
Uranium Price Increases
As noted in various recent industry publications, the US$85 spot price
for U308 marks a new record for uranium. The rapid rise in the price further
confirms many research analysts' predictions that worldwide mine production
continues to fall short of market demand and current inventories are being
sold into the market resulting in the supply-demand deficit.
One such analyst, Adam Schatzker of RBC Markets has reported that,
"Investors can expect to see the price of uranium continue to rise throughout
2007 and predicts the average price will be US$100 per pound this year."
As of December 2006, there were 435 reactors currently in operation
producing 368,246 Mwe of power. There are 28 reactors under construction, 64
planned and more than 158 have now been proposed globally with more added to
this number every month. It is reported that the 435 operating reactors
require approximately 180 MMlbs of U3O8 equivalent. 110 MMlbs of U3O8 is
supplied by primary production with the balance being made up from secondary
sources including mixed oxide (MOX) fuel, national and utility held
inventories (both strategic and commercial), Russian LEU (Low-Enriched
Uranium) exports, recycling programs, Tails assay adjustments, DOE (Department
of Energy) sales and HEU (Highly-Enriched Uranium).
It appears that buyers are eager to stockpile supplies at fixed prices,
while sellers view the uncertainty about remediation efforts by Cameco Corp.
at its Cigar Lake uranium project as an opportunity to hold out for higher
Other industry experts have stated that, "Uranium is in a super bull
cycle, fueled by supply shortfalls amid rising demand as the world
increasingly turns to nuclear for clean, commercially viable, long-term energy
solutions. Today's increase in the spot price is a reflection of the uranium
shortfall and provides investors with added confidence in the uranium sector."
Accordingly, management of Thunder Sword is intent on aggressively completing
its initial exploration phase on each of its prospects and moving towards
establishing and carrying out drill programs.
Stephen B. Butrenchuk, P. Geol. is the Qualified Person as defined by NI
43-101 whom has reviewed this news release.
Thunder Sword will continue to report on news as it becomes available.
For more information on the Company please visit their website at
About Thunder Sword Resources Inc.
Thunder Sword's primary objective is to identify and develop significant
uranium discoveries in the Athabasca Basin in Saskatchewan. Thunder Sword also
operates, under license, the Geermu project which produces high purity
magnesium chloride in China and holds and operates the Pipe Lake gold property
situated in Ontario which consists of 42 claims.
Forward Looking Statements
This News Release may contain forward-looking statements including but
not limited to comments regarding the timing and contents of upcoming work
programs, geophysical, geological interpretations, etc. Forward-looking
statements address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ substantially from those
currently anticipated in such statements. Thunder Sword Resources relies on
litigation protection for forward-looking statements.
Matty Goldstein, Director
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this News Release.
For further information:
For further information: Thunder Sword Resources Inc. Gordon Nesbitt,
Investor Relations Toll Free: 866-328-3188