Trigon provides update on Intercontinental Potash Corp.



    GOLDEN (DENVER), CO, June 17 /CNW/ - Mr. Sidney Himmel reports that
Trigon Uranium Corp. (TSX-V:TEL; "Trigon" or the "Company"), a company
involved in the acquisition and exploration of Uranium properties in the
United States South West, is pleased to provide an update in respect of its
interest in Intercontinental Potash Corp. ("ICP"). On May 26, 2008, the
company announced that it had acquired an interest in ICP, a private company.
ICP is completing a Canadian $5,000,000 financing, anticipated to be closed by
June 23, 2008. Upon the completion of the financing Trigon will hold
approximately 38 % of ICP. Trigon holds an option to acquire sufficient common
equity to reach a 50 % interest in ICP. The option expires 90 days after the
closing date of the ICP financing.
    ICP's mandate is potash and potash-related mineral exploration in North
America and internationally. ICP holds a 100 per cent interest in U.S. Potash
Corp. ("USPC"), a private Colorado corporation. USPC holds interests in
federal prospecting permit applications with respect to potash and
potash-related mineral exploration and development. USPC's mandate is to focus
on potash and potash-related mineral exploration projects in the United
States. USPC's prospecting permit applications are being reviewed by the
regulators. The prospecting permit applications are for sub-surface potash
rights in states of Utah, Colorado, and New Mexico.

    USPC Exploration Projects:

    USPC is pursuing four potash and potash-related mineral projects in the
southwestern United States. The high current potash prices and the forecast
price environment for these minerals support such activities. USPC will carry
out exploration and has initiated studies to determine their economic
potential.

    Delaware Basin:

    One of the four projects of USPC is located in the Delaware Basin. The
Delaware Basin has been a producer of petroleum since the 1940s. The basin is
a mature oil and gas province. The New Mexico mines of Intrepid Potash, Inc.
(NYSE:  IPI, "Intrepid"), and The Mosaic Company (NYSE:  MOS, "Mosaic") are
located approximately 15 miles northwest of the Delaware Basin "Ochoa Project"
of USPC. The Delaware Basin is known to contain halite, anhydrite, sylvite,
langbeinite, and polyhalite. Intrepid and Mosaic produce approximately 70
percent of United States potash production as sylvite and langbeinite from
deposits 800 to 1500 feet below the surface using continuous mining equipment
similar to that used in mining coal.

    Ochoa Project:

    The area of interest of the Delaware Basin Ochoa project is located in
Lea County, New Mexico about 60 miles southeast of Carlsbad, New Mexico where
potash was discovered in 1925. The federal prospecting permit applications are
for approximately 37,000 acres. The approval of the permits is contingent upon
the approval of exploration and environmental plans which have been submitted
to the Bureau of Land Management. Additional exploration work such as
surveying and drill site selection is ongoing. In addition the required
environmental and archeological work is currently underway.
    Oil and gas exploration in the Ochoa area of interest has not resulted in
significant oil and gas production. However, that exploration has provided
over 200 geophysical well logs of value in potash exploration. These logs
include gamma ray logs. Such logs are of value in potash exploration since the
presence of a radioactive potassium isotope in potash minerals allows
detection of potash and potash-related minerals. In addition to the gamma ray
logs, the company has also obtained historical caliper logs and acoustic logs.
These logs are valuable in determining the nature of the minerals located in
various zones of the Delaware Basin. The use of these logs has enabled USPC to
select land that may host a potash-related fertilizer mineral. While the data
obtained to date is supportive of the prospectivity of this property there are
no potassium mineral resources at the present time as defined by National
Instrument 43-101.

    Paradox Basin:

    USPC has three projects in the Paradox Basin of Utah and Colorado. The
Paradox basin of the Colorado Plateau contains a thick succession of
evaporites and a thinner shelf facies of petroliferous shelf carbonate rocks.
The evaporate facies (mainly halite) extends over 11,000 square miles in Utah
and southwestern Colorado. Oil was discovered in 1956. During that period
potash was discovered on the Cane Creek anticline. Twenty-nine evaporite
cycles subsequently have been identified. Each cycle generally consists of a
sequence of limestone, dolomite, anhydrite, and halite. Deposits of potash of
variable grade and thickness are found in 18 of the 29 cycles. Most show
remarkable lateral continuity. Cycle 5 is the most extensively explored and
exploited of the potash deposits. The potash consists mainly of sylvite and is
present over an area of about 2,500 square miles.
    A massive area of potash deposits occur in the Paradox Formation. The
Paradox Basin is a structural and sedimentary basin of Pennsylvanian age. This
large petroliferous basin (165 miles by 120 miles) was formed during the
Middle Pennsylvanian-Permian Ancestral Rocky Mountain orogenic event. In
general, potash in this region is quite deep. However, there are many
anticlines within the basin which bring potash deposits up to mineable depths.

    Dove Creek Project:

    The Dove Creek Project encompasses an area of interest of the Paradox
Formation which is located in Utah's San Juan County and Colorado's Dolores
and Montezuma Counties. The target is in cycle 18 of the middle Pennsylvanian
Paradox Formation. Current production is from Intrepid's solution mining
operation at Cane Creek, Utah, about 100 miles to the Northwest near Moab.
Intrepid solution mines sylvinite from cycle 5 about 3000 feet below the
surface and concentrates the solution by solar evaporation.
    The U.S. Geological Survey described an area of about 20 square miles
where salt in cycle 18 thickens to more than 260 feet and contains two layers
of potash separated by 30 feet of barren salt. The Dove Creek Project is
within this area. The upper layer appears to contain the greatest
concentration of potash, reaching a thickness of about 30 feet. Based on the
geophysical logs from several wells it appears that the potash layers may
contain sylvinite with high K2O grades. The prospective potash deposit would
appear to be amenable to solution mining. While the data obtained to date is
supportive of the prospectivity of this property there are no potassium
mineral resources at the present time as defined by National Instrument
43-101. The company has applied for federal prospecting permits composing an
area of approximately 14,000 acres. The approval of the prospecting permits
will require the presentation of exploration and environmental plans and the
completion of archeological studies.

    Sinbad Valley Project:

    The Sinbad Valley area of interest is a structurally complex salt
anticline. Based on historical oil and gas test drilling, and the resulting
gamma ray log data, USPC believes that the area is prospective for numerous
potential potash deposits. The Company has applied for federal prospecting
permits comprising an area of approximately 12,000 acres. The approval of the
prospecting permits will require the presentation of exploration and
environmental plans and the completion of archeological studies.

    Pine Ridge Project:

    The Pine Ridge project area of interest is a nondiapiric extension of the
Gypsum Valley salt anticline. The evaporite section is enclosed by younger
rock layers and is relatively undeformed. Wells drilled on the anticline
indicate that strata as young as the Chinle Formation locally rest on the
Paradox Formation. Geophysical data from historical wells at Pine Ridge
suggest the existence of potash deposits. The company has applied for federal
prospecting permits comprising an area of approximately 5,000 acres. The
approval of the prospecting permits will require the presentation of
exploration and environmental plans and the completion of archeological
studies.

    USPC Personnel and Consultants:

    Trigon has provided, and will continue to provide ICP and USPC,
management services with respect to potash property acquisition, exploration
of subsurface mineral rights, as well as financial and administrative
services.

    Senior Exploration and Technical Consultants and Personnel:

    Robert J. Hite is the potash consulting specialist to ICP and USPC. Mr.
Hite joined the U.S. Geological Survey in 1956 and investigated potash,
phosphate, coal, and petroleum in the western United States in that capacity.
In 1964 he was assigned full time to research of potash and marine evaporites.
He has published over 90 papers and abstracts concerning the geology of
evaporites, potash deposits, petroleum occurrences in evaporites, and the
storage of nuclear waste in salt deposits. He has received numerous awards for
his geological work, including the Department of the Interior Special
Achievement Award in 1975 for work that led to the discovery of a large potash
deposit, and the Department of Interior Meritorious Award in 1987 in
recognition of outstanding contributions in the fields of geology,
statigraphy, and economics of potash and other marine evaporite deposits.
Since his retirement from the USGS Mr. Hite has consulted on potash and
evaporites in Argentina, Canada, China, Egypt, Laos, Nigeria, Russia,
Thailand, and Turkey.
    Diane Keith is the environmental consultant to ICP and USPC. Ms. Keith is
an environmental engineer with a broad range of experience in environmental
permitting, air quality, regulatory compliance, water and wastewater services,
hazardous waste management, and development of environmental management
systems. She is presently leading the efforts of USPC to obtain prospecting
permits and environmental permits. Ms. Keith has served as a project manager,
overseeing an extensive number of environmental compliance projects for
mining, manufacturing, and military facilities in the Western U.S. She has
assisted private industry and federal facilities to comply with a vast array
of regulatory requirements by preparing regulatory compliance plans and
agency-mandated compliance efforts.
    Knute H.Lee Jr.(TM) of Albuquerque, New Mexico, is a consultant to U.S.
Potash Corp. He is responsible for the land work of USPC in the United States.
He is an independent landman and has recently completed a term as President of
the American Association of Professional Landmen. He has been an active member
of the American Association of Landmen since 1976, serving as second vice
president in 1993, first vice president in 2005, and as the AAPL region VIII
(Southwest) director for more than 20 years. He has also served on numerous
Boards, including Santa Fe Trust, Zia Title, Fellowship of Christian Athletes,
Hoffmantown Church and the New Mexico Baptist Foundation. He has worked
extensively in the oil and gas and mining industries. He is a Board Member of
the Independent Petroleum Association of New Mexico and is a Hall of Fame
recipient of the Independent Petroleum Association of America. He is also past
president of the Rocky Mountain Association of Mineral Landmen.
    Susan Wager, a full time employee of USPC., is involved in exploration
planning, mapping, and geological data analysis of potash and potash-related
mineral projects of USPC. Her experience has been in the Rocky Mountain region
and other parts of the United States, including the Paradox, San Juan, Wind
River, Powder River, Williston, and Greater Green River basins. She also
carried out exploration work in Arkansas, Louisiana, Oklahoma, Texas, Kansas,
Pennsylvania, New York, and Illinois. She has been published in "Oil and Gas
and Other Resources of the Wind River Basin, Wyoming", a publication of the
Wyoming Geological Association ("Steamboat Butte Oil Field - A Model for
Future Exploration").
    Thomas F. Buchholz, a full time employee of Trigon Exploration Utah Inc.,
is providing engineering services to USPC. He brings 40 years of mining
experience including 20 years of mining operations management. He began his
career in 1979 with Martin-Trost Associates where, as a General Manager, he
established key support systems for the oil field fabrication unit and engaged
in reclamation activities. In 1982, Mr. Buchholz joined Cotter Corporation
where he served in progressively more responsible positions including Chief
Mine Engineer and General Mine Manager. Mr. Buchholz is familiar with all
aspects of hard rock mining. Mr. Buchholz was President of MarGeo Inc., a
project management and engineering services company.

    Executive and Other Personnel:

    Sidney Himmel, the President of Trigon Uranium Corp., has been appointed
the President of USPC. Trigon is providing administrative and financial
services to USPC. Mr. Himmel has over 17 years experience in Canadian capital
markets, having worked at major investment dealers over that period of time,
including as a Corporate Finance mining specialist with Merrill Lynch Canada
Inc. and Toronto Dominion Securities. Earlier in his career, he practiced as a
tax specialist with a Canadian national auditing firm. He is a member of the
Institute of Chartered Accountants of Ontario, and a member of the American
Chemical Society, and a recipient of awards from the Canadian Institute of
Chartered Accountants and the Canadian Securities Institute. Mr. Himmel has
been an adjunct professor in corporate taxation at the business school of the
University of Toronto, and has also written various publications in taxation
and accounting. He has edited a publication on the financing of private
pre-IPO biotechnology companies.
    Patricia Nicol, a full time employee of Trigon, is providing public
relations and related services to ICP and USPC. Internal land services,
geological mapping and related technical services, and exploration field
services are being provided by various personnel of Trigon to ICP and USPC.
USPC intends to add staff in the area of potash and potash-related fertilizer
mineral marketing.

    The technical information in this news release has been reviewed by Dr.
Geoffrey Snow, Geological Consultant to the Company and a Qualified Person as
defined in National Instrument 43-101.

    All statements in this release, other than statements of historical
facts, that address future developments that the company expects to occur, are
forward-looking statements. Although the company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward looking statements include market prices,
exploitation and exploration successes, and continued availability of capital
and financing and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from
those projected in the forward-looking statements. The Company does not assume
any obligation to update or revise its forward-looking statements, whether as
a result of new information, future events or otherwise.

    About Intercontinental Potash Corp.

    Intercontinental Potash is a Canadian private company involved in the
acquisition, exploration, and development of potash and potash-related mineral
lands in the United States Southwest. Intercontinental holds a 100 per cent
interest in U.S. Potash Corp., a Colorado Corporation holding interests in
various State exploration and mineral lease applications in respect of potash
and potash-related minerals, and which is carrying out exploration work with
respect to those applications.

    About Trigon Uranium Corp.

    Trigon Uranium Corp. is a uranium exploration and development company
focused on the known deposits of the United States South West. This region has
produced over one billion pounds of uranium. Trigon has a highly qualified
team of uranium exploration experts located in Canada, Utah, and Colorado to
direct its exploration and development efforts in the United States South
West. Trigon's strategies include the development of advanced uranium
projects, entry into uranium mining on an expeditious basis, and opportune
acquisitions of Uranium development properties. The company's operations are
focused from its Golden, Colorado office. Trigon has made an investment in
Intercontinental Potash Corp., a company involved in the acquisition,
exploration, and development of potash and potash-related mineral lands in the
United States Southwest. The company's shares trade on the TSX Venture
Exchange under the symbol "TEL".

    Should you wish to receive Company news via email, please email
mirna@chfir.com and specify "Trigon News" in the subject line.

    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This release
includes certain statements that may be deemed "forward-looking statements".
All statements in this release, other than statements of historical facts,
that address future developments that the company expects to occur, are
forward-looking statements. Although the company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results to differ
materially from those in forward looking statements include market prices,
exploitation and exploration successes, and continued availability of capital
and financing and general economic, market or business conditions. Investors
are cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ materially from
those projected in the forward-looking statements. The Company does not assume
any obligation to update or revise its forward-looking statements, whether as
a result of new information, future events or otherwise.
    %SEDAR: 00021118E




For further information:

For further information: please visit www.trigonuraniumcorp.com or
contact: Trigon Uranium Corp., Sidney Himmel, President and CEO, T: (303)
216-2916; CHF Investor Relations, Jeanny So, Director of Operations, T: (416)
868-1079 x 225, jeanny@chfir.com; Jacqueline Wagenaar, Account Manager, T:
(416) 868-1079 x 289, jacqueline@chfir.com

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TRIGON URANIUM CORP.

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