Silver North Resources Ltd. press release
Positive Uranium Values from Reconnaissance Program in Alberta
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TSX Venture Exchange Trading Symbol "MMU" SEC 12g(3) Exemption 82-4100 Standard & Poor's Corporate Manual Listing
CALGARY, June 2 /CNW/ - Marum Resources has received positive results from its initial reconnaissance programs in the Fort Macleod area of southern Alberta where it holds a 100% interest in approximately 1,000 square Kms of permits (See Press Releases of March 3 2005 and May 5 2005). The Fort Macleod permits cover large areas where non-intrusive ISL (in-situ leaching) mining operations could be carried out in the event that economic concentrations of uranium are defined by drilling. The Company's preliminary assessment of the reconnaissance data is that all of the required geological conditions exist for the formation and preservation of roll-front uranium deposits and that further exploration is essential. Thirty-two samples were taken in the Fort Macleod area. Fifteen samples were taken as condemnation samples to exclude certain rock types from future sampling programs and ten samples were taken from boulders that have been glacially transported from the Rocky Mountain foothills to the west (See Press Release of May 5 2005). Seven samples were taken to test the uranium content of the local sandstones. Four of these samples were slightly anomalous in uranium (10 to 20 ppm U), one sample contained 120 ppm U (parts per million Uranium). Two samples, with significant amounts of carbonaceous material, contain extremely high amounts of uranium (5,700 ppm U and 4,990 ppm U). These results are equivalent to 0.57% U (11.4 lbs/t U) and 0.49% U (9.9 lbs/t U). The samples were processed at Saskatchewan Research Council in Saskatoon. Reconnaissance samples from other areas in southern Alberta have been submitted for analysis and the results are still pending. Marum has commenced a follow-up program that will include drilling and trenching in the Fort Macleod area. One drill grid of four to eight holes is located approximately 450 metres away from the site of one of the high grade uranium reconnaissance samples. The target sandstone is known to be unfolded and horizontal. The holes are expected to be short, approximately 100 metres in depth. Graphics of the Alberta uranium project are available at www.marumresources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The statements made in this news release may contain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.