Uranium Star Corp.
OTC Bulletin Board : URST
FRANKFURT : YE5

Uranium Star Corp.

June 08, 2007 09:24 ET

Results and Interpretations of the Winter Drilling Program on Uranium Star's Quebec Sagar Property

TORONTO, ONTARIO--(Marketwire - June 8, 2007) - Uranium Star Corp. (OTCBB:URST)(FRANKFURT:YE5) wishes to announce results of its winter drilling program at its Sagar Property located in the Labrador Trough area of northern Quebec.

The primary objective of the program was to define the potential source area for the high grade Mistamisk uranium-gold boulders that have been the focus of numerous exploration programs in the past.

SIXTY REVERSE CIRCULAR (RC) DRILL HOLES COMPLETED OVER 8 SQUARE KILOMETERS

The winter program saw the completion of 60 reverse circulation (RC) drill holes. In addition, seven diamond drill holes were completed for a total of 1,070 meters. Lower than projected productivity from one of the reverse circulation rigs necessitated drilling on 500 meter centers as opposed to the designed 250 meter centers, which resulted in significantly less coverage than the initially planned program of 120 RC drill holes at 250 meter spacing. The program covered an area of 8 km2. Only RC drilling on the Royal Montreal Grid was completed. Several other primary target areas to the east require testing with the RC rig. (See www.uraniumstar.com photo gallery).

ANOMALOUS DISPERSION TRAIN IDENTIFIED

During the summer and fall programs of 2006, exploration efforts by Uranium Star identified a potential source area for the Mistamisk Boulder Field in the vicinity of Eagle Lake, located a few kilometers to the south of Mistamisk Lake. Very little exploration has been conducted over this area in the past as there is poor outcrop exposure due to a blanket of glacial overburden. A regional reverse-circulation drill hole program was therefore implemented by Uranium Star during the winter program to test for anomalous mineral dispersion trains within the overlying sediments.

Samples from the RC drilling were analyzed using ICPMS, heavy mineral concentrate analyses, and shortwave infrared spectrometry (PIMA). Although no high-grade mineralization was encountered in the RC drill holes, the analytical results delineated two anomalous dispersion trains of gold and uranium vectoring down-ice to the Mistamisk Boulder Field. Multiple other elements also proved to have coincident anomalies with the uranium and gold including selenium, molybdenum and tellurium. The wide spread drill spacing makes anomaly definition and orientation more difficult but additional infill drilling during the summer program should confirm anomaly directions.

DIAMOND DRILL RESULTS

Initial diamond drilling of 5 holes on the Red Tail Grid, located on the east side of the property, targeted coincident magnetic and radiometric anomalies. Work in 2006 had defined high grade gold and uranium mineralization in outcrop and in boulders. The magnetic anomalies were caused by disseminated magnetite in volcanic rocks. No radioactive units were intersected so the source of the significantly altered gold and uranium bearing rocks in the area has yet to be defined. It is conceivable that interpreted graphitic horizons located immediately to the south of the winter diamond drilling site may be proximal to the mineralized source.

Two additional drill holes put down several kilometers to the west that were to test an area where high grade uranium boulders had previously been found were likely drilled down dip and will have to be re-drilled during the summer. One of the holes was lost in highly brecciated sediments and could not be completed.

SPRING 2007 EXPLORATION PREPARES FOR MAJOR SUMMER/FALL DRILL PROGRAM

With the advent of improving weather conditions, exploration is scheduled to resume at the Sagar property within the week. A team of prospectors and soil samplers will mobilize to the Sagar property on the 12th of June. A mobile XRF analyzer will be utilized in the field to obtain real-time geochemical analyses. This will enable Uranium Star to fine-tune exploration targeting in preparation for RC and diamond drilling which is anticipated to commence on the 19th of June.

Areas that will be targeted during the upcoming summer program include the Royal Montreal Grid which is interpreted to host the mineralized source of the Mistamisk boulders, the Red Tail Grid and the Bannock Lake grid. A major east west trending structure is interpreted to underly the Royal Montreal Grid and it is thought that the mineralized source of the Mistamisk boulders has a direct relationship to this structure. The structure can be traced for over 10 kilometers along the width of the property. Both the Bannock Lake and Red Tail target areas are also associated with this major east west trending structure.

Due to spring break-up, Uranium Star paused exploration activities at the Sagar property at the end of April. This enabled Uranium Star to reanalyze the airborne geophysics for the Sagar property, compile and make interpretations of all previous work on the property, and await the analytical results for samples submitted for geochemical analysis. All this data has subsequently been integrated to target this summer's exploration work over prospective areas that have seen little exploration in the past.

The airborne geophysical survey flown by past operators in 1995 has been re-processed and the more refined data is assisting in zeroing in on potentially mineralized zones. The Mistamisk boulder field displays coincident but stronger thorium anomalies than uranium.

This relationship will have to be determined but it would appear that there is a significant component of granitic rocks within the boulder field and it is known that these are somewhat radioactive, caused mostly by thorium. It is quite conceivable that the mineralized source of the boulders is proximal to a granitic source. Significant hornfels alteration has also been noted associated with rocks in the Mistamisk boulder field which also points to a granitic association.

SPECTACULAR MINERALIZATION OF THE MISTAMISK BOULDER FIELD

The spectacular mineralization found in the Mistamisk Boulder Field has fueled an ongoing drive to discover its source since the early 1980's. The Mistamisk Boulder Field is approximately 500 X 250 meters in size and contains many radioactive gold bearing boulders. In a Virginia Mines report, 70 boulders assayed an average of 64.9g/t Au and 1.3% U (with values up to 640 g/t Au and 4.11% U). Uranium Star is the direct beneficiary of the extensive exploration efforts incurred by previous operators including Virginia. These programs have shown that the Sagar Property is characterized by an impressive amount of uranium, gold, copper and lead/zinc mineralization of different styles and potential deposit models.

AIRFIELD STRIP COMPLETED TO BE COMPLETED IN MID JUNE

With the completion of the ground airfield strip adjacent to the camp in mid June, we will be significantly less dependent upon weather conditions and virtually have year round access to the property. In addition to this benefit, we will be able to deliver supplies and personnel to the property in a much more cost effective and efficient manner.

QUALIFIED PERSON

Craig Scherba, PGeo, is the qualified person on the project and supervised the preparation of the technical information in this release.

ABOUT THE COMPANY

Uranium Star Corp. is a rapidly emerging uranium exploration company with assets in Northern Quebec and Arizona. Its shares are traded on the OTCBB under the symbol URST, as well as the Frankfurt Exchange under the symbol YE5. The Company continues to focus on high priority uranium property acquisition and exploration in order to participate in meeting the significant and increasing demand for uranium as an alternative energy source.

Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.

Contact Information

  • The Buick Group
    Jon Ruby
    Toll Free: 1-877-748-0914
    Email: jruby@buickgroup.com
    or
    Uranium Star Corp.
    Kirk McKinnon
    President and CEO
    (416) 364-4986 or 1-800-818-5442
    or
    Uranium Star Corp.
    Richard Schler
    Vice President and CFO
    (416) 364-4986 or 1-800-818-5442
    Website: www.uraniumstar.com