Northern Continental Resources Inc.

Northern Continental Resources Inc.

December 11, 2007 12:45 ET

Northern Continental Updates Russell Lake Drilling Program Athabasca Basin Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 2007) - Northern Continental Resources Inc. (TSX VENTURE:NCR) announces its upcoming $4 million, 21 hole, 10,500 meter drilling program is set to begin in January 2008. Geological services by Aurora Geosciences of Yellowknife are under way, with Cyr Drilling International Ltd. of Winnipeg providing two drilling rigs.

Six separate areas of NCR's Russell Lake property in the uranium rich Athabasca Basin of Saskatchewan have been identified as immediate drilling targets prospective for uranium mineralization.

During the summer program drill hole RL-07-06D was lost below mineralization in a dissolution zone similar to that known to occur at the McArthur River Mine. This geological similarity provides a prime follow-up target. Follow-up drilling will also be conducted on the Grayling Zone in an area of previously identified mineralization (3.45% over 0.3m and 0.4% over 3.75m); drill holes from the summer/fall 2007 program also encountered uranium mineralization in this area.

At Grayling East an undrilled conductor presents a strong structural target confirmed by a seismic survey and overlain by a resistivity anomaly indicating hydrothermal alteration. Northern Continental and its consultants consider this target to have very high potential, and it is scheduled to be drilled early in the new year.

Four other target blocks, each containing known conductors, have now been defined by a combination of ground and airborne magnetic, electromagnetic, gravity and seismic surveys. These recent geophysical programs have enabled Northern Continental to advance these targets for drilling this winter.

Another target block with a strong basement conductor will receive ground geophysics to refine targets for drilling. The above target blocks represent new opportunities for discovery of uranium mineralization; only the Grayling Zone has been previously drilled.

Northern Continental's geological team is led by geophysicist Charlie O'Sullivan, Chairman of the Board, who was instrumental in acquiring the Russell Lake property for Northern Continental in 1999, and Don Simmons, B.Sc., P.Geol., Northern Continental's Vice President of Exploration.

Northern Continental management is very excited to begin the first phase of drilling on the new targets and believes they are highly prospective for the discovery of uranium deposits. Northern Continental has been a long term participant in Athabasca Basin uranium exploration, and is committed to maximizing the value of the Russell Lake Project for its shareholders.

Northern Continental acquired the large (114,000 acre) Russell Lake Project in 1999 from PNC Corporation, a subsidiary of the Japanese government. As one of the first mining exploration companies to anticipate the current strong rise in uranium demand, Northern Continental assessed numerous other properties in the Athabasca Basin and concluded that the Russell Lake property was the best exploration project in the region. The property is surrounded by uranium mines and deposits - the McArthur River Mine (richest in the world) to the north, past-producing Key Lake to the south, and the Millennium and Moore Lake/Maverick deposits to the west and east respectively.

Following a detailed review of historical geophysical data and prior drilling, Northern Continental optioned a minority interest in Russell Lake to Roughrider Uranium (now a subsidiary of Hathor Exploration Ltd.) for 750,000 shares and a two year, $2 million work commitment. Extensive geological surveys including gravity, magnetic and electromagnetic (airborne and ground), resistivity and seismic surveys were conducted during the earn-in period.

As the result of a recent technical meeting held in Saskatoon, drills are being moved to the property in mid December, permitting is nearing completion, and drilled is expected to start in early January.

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Alan Crawford, President

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Contact Information

  • Northern Continental Resources Inc.
    Alan Crawford
    (604) 685-9255 or Toll Free 1-800-449-4435