CALGARY, Aug. 8 /CNW/ - Monroe Minerals Inc. (TSX Venture: MMX)
("Monroe") announced today that the airborne geophysical survey at the Alexis
River uranium property in Labrador had been completed. The survey is a key
component of the 2007 exploration program at Alexis River.
The survey was carried out by McPhar Geosurveys Ltd. of Newmarket,
Ontario, utilising a high sensitivity airborne caesium magnetometer and a
multi-channel gamma ray spectrometer. The survey comprised 317 line kilometres
at 100 metre line spacing with tie-in lines every 1 kilometre. The final
results of the survey are expected in September.
Monroe has entered into an option agreement with Altius Resources Inc.
allowing it to earn up to a 60% interest in the Alexis River uranium property,
located in Labrador, Canada. The terms of the option agreement were announced
on July 24, 2007.
Altius Resources Inc. is a wholly owned subsidiary of Altius Minerals
Corporation. Altius Minerals Corporation's principal business activities
include the generation and acquisition of projects related to natural
resources opportunities in the Province of Newfoundland and Labrador, Canada.
For more information please visit www.altiusminerals.com.
Monroe is engaged in the exploration and development of gem quality
diamond properties in Southern Africa and the assembly of an international
portfolio of uranium projects. Its strategy is well defined: enhancing
shareholder value by combining Monroe's recognized twin strengths of technical
expertise and professional management to advance mining projects to profitable
long term production. Monroe's shares trade on the TSX Venture Exchange under
the symbol MMX. For more information please visit www.monroeminerals.com.
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Forward-looking statements: Except for statements of historical fact, all
statements in this news release, without limitation, regarding new projects,
acquisitions, future plans and objectives are forward-looking statements which
involve risks and uncertainties. There can be no assurance that such
statements will prove to be accurate; actual results and future events could
differ materially from those anticipated in such statements.
For further information:
For further information: Derek J Moran, President, Monroe Minerals Inc.,
27-82-440-3426; Robin Cook, Account Manager, CHF Investor Relations, (416)