SASKATOON, Dec. 22 /CNW/ - JNR Resources Inc. (TSXV:JNN) and Denison Mines Corp. (TSX:DML); jointly the "Companies" have approved exploration programs totalling $1 M on the Moore Lake and Bell Lake joint ventures at meetings held in Saskatoon on December 17, 2010. These properties are all located in the Athabasca Basin of Northern Saskatchewan.
At the Moore Lake project where JNR has a 25% participating interest, uranium mineralization has been intersected in several distinct areas throughout the property, including high-grade mineralization within the 'Maverick zone'. The 2011 winter program is budgeted at $800,000 and will consist of a minimum of 3,000 metres of diamond drilling on several high priority targets that exist on the property. This program is scheduled to commence by mid January 2011.
On JNR's 40% owned Bell Lake project, the Companies approved a $200,000 winter program that will consist of 60 kilometres of linecutting, ground magnetics and Fixed Loop EM. Review of the historical drilling and geophysics on the Bell Lake property in the area of the proposed grid has identified several high priority targets requiring geophysical refining. Targets delineated in this survey are anticipated to be drill-tested in 2012.
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 14 properties totalling some 340,197 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.
JNR's Vice President of Exploration, Dave Billard, P.Geo., 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
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news 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.
For further information: For further information:
JNR Resources at 306.382.2211 or 877.567.6463