SASKATOON, Oct. 30 /CNW/ - JNR Resources Inc. (TSXV:JNN) (the 'Company')
is pleased to announce that to facilitate drilling on its Athabasca Basin
properties in northern Saskatchewan, the Company has purchased two new
Duralite 1100N Heliportable Diamond Drills capable of reaching depths of 1,000
to 1,100 metres.
The Company has also entered into an agreement with Dynamic Drilling Inc.
(Dynamic) of Saskatoon for a minimum of 20,000 metres of drilling on its
uranium properties. The Company will provide the drills, while Dynamic, the
principles of whom are experienced Athabasca Basin and international diamond
drillers, will operate the drills and provide the crews. After the completion
of this initial metreage, Dynamic will likely be in a position to purchase the
drills from the Company. The Company also has an exclusive option for Dynamic
to drill an additional 20,000 metres.
In 2007-08, the drills will be utilized exclusively on projects that the
Company holds a 100% interest in, with drilling programs planned on the Way
Lake, Black Lake, Newnham Lake and Yurchison Lake projects. It is anticipated
that Dynamic will be on site within the next two to three months.
JNR's Vice-President of Exploration, David Billard, comments: "Over the
past three years we have developed numerous targets on our properties. The
purchase of these drills and our agreement with Dynamic will allow us to
aggressively move forward and test those targets and ensure that our drilling
objectives are met in a timely fashion".
JNR has an interest in more than 362,000 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.
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
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS NEWS RELEASE.
For further information:
For further information: JNR Resources at (306) 382-2211 or (877)