Radar Acquisitions Corp.

Radar Acquisitions Corp.

November 01, 2007 18:26 ET

Radar Acquisitions Files NI 43-101 Technical Report for Buick Property

CALGARY, ALBERTA--(Marketwire - Nov. 1, 2007) - Timothy Bergen, President and CEO of Radar Acquisitions Corp. ("Radar") (TSX VENTURE:RAC), is pleased to announce the filing on SEDAR of an up-to-date National Instrument 43-101 compliant technical report on its Buick Property entitled "REPORT NI 43-101 TECHNICAL REPORT, LIMON LIGNITE PROJECT, ELBERT COUNTY, COLORADO, USA", dated October 26, 2007 (the "Technical Report"). The Technical Report was completed by Tetra Tech MM, Inc. ("TTMM") and Karl M. Kolin, P.E., a Qualified Person as defined by National Instrument 43-101.

The Technical Report Summary can be paraphrased as follows:

The Limon Lignite Project (the "Buick Property") is situated in Elbert County, 90 miles southeast of Denver and immediately northwest of the city of Limon in eastern Colorado. The owner of this property, Radar Acquisitions Corp., of Calgary, Alberta, is a junior exploration company that acquired much of its interest through the acquisition of Riverbend Exploration, Inc., of Denver, Colorado, in 1999. Additional lands in the Buick Property area were acquired through a lease agreement with Rocky Mountain Energy, a subsidiary of Anadarko Petroleum Corporation of Houston, Texas. Radar has also leased coal rights from the State of Colorado.

Radar's exploration concept was to amalgamate a checkerboard mosaic of ownerships into one large contiguous property amenable to low-cost bulk mining of lignite to support a mine-site energy production plant. Coal leases associated with federal lands, which fill in the mosaic, are not assigned at this time.

The extensive and generally flat-lying Laramie formation hosts the two main lignite coal seams, the A Seam and the B Seam, with two lesser rider seams noted as the Upper A Seam and the Upper B Seam. The Technical Report presents a resource estimate for the A and Upper A Seams only - the B Seams, generally higher in sulfur, are not included in this resource estimate.

TTMM followed CIM standards in estimating a NI 43-101 compliant Coal Resource for the A and Upper A lignite seams as summarized in Table 1-1 and Table 1-2. These resources reflect lignite that is mineable by surface mining methods and is of a quality suitable for mine mouth energy production, such as power (electricity), coal-to-gas, and coal-to-liquids projects.

The author of the Technical Report believes that the Buick Property resource has favorable location and access, quantity, grade, geological characteristics and continuity to justify the premise that there is a potential for economic extraction of lignite.

Radar has received expressions of interest from third parties interested in investigating the potential for using Buick Property coal in a mine mouth power plant or similar power generation project such as coal-to-gas and coal-to-liquids. This interest has come from established power generation companies and established coal-mining companies.

Note to Tables 1-1 and 1-2: Mineral Resources are not Mineral Reserves and
do not have demonstrated economic viability.

Table 1-1: Summary of Indicated Lignite Resources

Indicated Resource
Lease Seam Tons BTU/lb Avg. Thickness (ft.)
GN3429 Upper A 5,057,000 6,196 3.08
A 28,196,000 6,214 8.75
Subtotal 33,253,000 6,211 7.89
GM3304 Upper A 0
A 5,469,000 6,182 8.72
Subtotal 5,469,000 6,182 8.72
Anadarko Upper A 14,099,000 6,085 5.98
A 135,399,000 5,838 8.41
Subtotal 149,498,000 5,861 8.18
TOTAL 188,220,000 5,932 8.14

Table 1-2: Summary of Inferred Lignite Resources

Inferred Resource
Lease Seam Tons Avg. Thickness (ft.)
GN3429 Upper A 6,106,000 2.61
A 18,259,000 9.69
Subtotal 24,365,000 7.92
GM3304 Upper A 4,084,000 3.38
A 16,139,000 9.96
Subtotal 20,223,000 8.63
Anadarko Upper A 34,637,000 5.33
A 24,147,000 8.75
Subtotal 58,784,000 6.73
TOTAL 103,372,000 7.38

The entire Technical Report may be reviewed on the SEDAR website: www.sedar.com.

Karl M. Kolin, P.E., a Qualified Person as defined by NI 43-101, has reviewed and verified the technical information contained in this news release through his work on the property and the preparation of the Technical Report.

Radar will continue to update shareholders on corporate news, financings and project developments. Management welcomes the opportunity to present detailed project information to shareholders and other interested parties.

About Radar Acquisitions Corp.

Radar is a diversified natural resource development company focused on growth through the acquisition, exploration and development of resources and resource related technologies. The company is focused on a joint venture agreement it has with New Energy USA, LLC, to develop engineered solid fuel products (Re-Fuel™) using a combination of coal slurry pond waste and biomass.

Re-Fuel™ will benefit the environment through the reclamation of coal slurry and other bio-refuse in the production phase and cleaner stack and ash emissions in the power generation phase. Production of Re-Fuel™ can qualify the producing joint venture company for a variety of tax credits while providing coal waste owners/suppliers with a significant benefit by decreasing site reclamation costs. Users of Re-Fuel™ will benefit from a competitively priced, cleaner, more efficient product that may also make them eligible for substantial carbon credits.

All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the Alberta Securities Commission and the British Columbia Securities Commission.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Radar Acquisitions Corp.
    Timothy J. Bergen
    (403) 262-3797 or Toll Free: 1-877-262-5888
    Email: tbergen@radar.ab.ca
    Ascenta Capital Partners Inc.
    Bryson Goodwin
    Investor Relations
    (604) 684-4743 ext 239 or Toll Free: 1-866-684-4209
    Email: bryson@ascentacapital.com