Owner
Post by Franko10 ™ on Dec 2, 2004 14:05:02 GMT -5
IUC Triples Land Position in the Athabasca Basin of Saskatchewan
14:19 EST Thursday, December 02, 2004
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 2, 2004) - International Uranium Corporation ("IUC") (TSX:IUC) is pleased to announce that the Company has staked additional ground in the Athabasca Basin of northern Saskatchewan bringing its total staked and optioned land position to over 403,000 hectares in this rich and prolific uranium producing region.
Ron Hochstein, President of International Uranium Corporation, commented: "Through the input of our advisory committee, the Company has been able to assemble a large and strategic land package in the Athabasca Basin. With this newly acquired land package combined with our existing properties, we will have one of the largest exploration programs in the Athabasca Basin."
Exploration will resume at the Moore Lake high grade uranium project with an extensive 3D seismic survey similar to that used in the oil and gas industry. Three drill rigs will be utilized in an upcoming 15,000 metre program commencing in January, 2005 with drilling to focus on both the Maverick discovery zone and expanding and defining the known 3 kilometre mineralized corridor along the Maverick conductor. Several other mineralized conductors have been identified at the Moore Lake project and drill testing of these is planned as well. IUC has an option to earn a 75% interest in the Moore Lake project from JNR Resources.
In addition, the Company is planning a drill program on its 100% owned Key Lake South project located southwest of Moore Lake.
IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company owns approximately 58% of the outstanding shares of Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Mongolia.
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
United States investors are advised that while the term "inferred" resources is recognized and required by Canadian regulations, SEC does not recognize that term. Investors are cautioned not to assume that all or any part of mineral deposits in this category will ever be converted into reserves.
ON BEHALF OF THE BOARD
Ron F. Hochstein, President
NOTE: Location map available from the company at the number listed below or on the company's website at www.intluranium.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
International Uranium Corporation
Sophia Shane
(604) 689-7842
(604) 689-4250 (FAX)
Website: www.intluranium.com
14:19 EST Thursday, December 02, 2004
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 2, 2004) - International Uranium Corporation ("IUC") (TSX:IUC) is pleased to announce that the Company has staked additional ground in the Athabasca Basin of northern Saskatchewan bringing its total staked and optioned land position to over 403,000 hectares in this rich and prolific uranium producing region.
Ron Hochstein, President of International Uranium Corporation, commented: "Through the input of our advisory committee, the Company has been able to assemble a large and strategic land package in the Athabasca Basin. With this newly acquired land package combined with our existing properties, we will have one of the largest exploration programs in the Athabasca Basin."
Exploration will resume at the Moore Lake high grade uranium project with an extensive 3D seismic survey similar to that used in the oil and gas industry. Three drill rigs will be utilized in an upcoming 15,000 metre program commencing in January, 2005 with drilling to focus on both the Maverick discovery zone and expanding and defining the known 3 kilometre mineralized corridor along the Maverick conductor. Several other mineralized conductors have been identified at the Moore Lake project and drill testing of these is planned as well. IUC has an option to earn a 75% interest in the Moore Lake project from JNR Resources.
In addition, the Company is planning a drill program on its 100% owned Key Lake South project located southwest of Moore Lake.
IUC is engaged in uranium exploration and production. It holds significant uranium deposits in Mongolia and uranium and vanadium deposits in the U.S. and a fully permitted 2,000 ton per day uranium/vanadium mill near Blanding, Utah (one of only two operating uranium mills in the U.S.), as well as uranium exploration properties in the Athabasca Region in Canada. The Company also processes and recycles uranium-bearing waste materials as an environmentally superior alternative to direct disposal. In addition, the Company owns approximately 58% of the outstanding shares of Fortress Minerals Corp., a public company engaged in precious and base metal exploration in Mongolia.
Statements contained in this news release which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium and vanadium; the impact of the sales volume of uranium and vanadium; competition; reliance on income from processing uranium-bearing waste materials; the impact of change in foreign currency exchange rates and interest rates; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; changes to reclamation requirements; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; replacement of production and failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; ability to maintain and further improve positive labour relations; operating performance of the facilities; success of planned development projects; and other development and operating risks. Although IUC believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. IUC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
United States investors are advised that while the term "inferred" resources is recognized and required by Canadian regulations, SEC does not recognize that term. Investors are cautioned not to assume that all or any part of mineral deposits in this category will ever be converted into reserves.
ON BEHALF OF THE BOARD
Ron F. Hochstein, President
NOTE: Location map available from the company at the number listed below or on the company's website at www.intluranium.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
International Uranium Corporation
Sophia Shane
(604) 689-7842
(604) 689-4250 (FAX)
Website: www.intluranium.com
