Santoy Resources Ltd.

Santoy Resources Ltd.

October 04, 2007 09:00 ET

Santoy-Denison Joint Venture Provides Progress Report, Athabasca Basin, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Santoy Resources Ltd. (TSX VENTURE:SAN) is pleased to issue the following progress report from information provided by our 50/50 Joint Venture partner, Denison Mines Corp. (TSX:DML) for three of our four Athabasca Basin, Saskatchewan properties. Santoy Resources' field crews are completing the work on the Riou River property.

MURPHY LAKE - 15,236 Ha

As previously reported, (please see news release dated July 18, 2007) drill targets were selected on the basis of the interpretation of VTEM helicopter supported EM survey. Three diamond drill holes have been completed in September for a total of 1,152 metres as tabulated below:

Hole # Dip UTM Overburden Unconformity Total Depth
------ --- --- ---------- ------------ -----------
ML-07-01 -90 545030E 8m 203.5m 334m

ML-07-02 -75 545822E 16m 268.2m 385.8m

ML-07-03 -90 539633E 16m 326.4m 432m

Evaluation of the drill holes continues. Preliminary results from hole # ML-07-01, indicated weak silicification throughout the sandstone and weak pyrite from 265 metres to the end of the hole. At 226 metres, a calibrated Mt. Sopris probe detected an elevated radioactive response through the rods. Additional ground geophysical surveys are being planned in preparation to selecting further drill targets.

HATCHET LAKE - 37,514 Ha

Three drill holes totaling 856 metres were completed on the Hatchet Lake property in August-September to evaluate three targets selected from the processed data from a VTEM helicopter supported EM survey. Details of the drilling are tabulated below:

Hole # Dip UTM Overburden Unconformity Total Depth
------ --- --- ---------- ------------ -----------
HL-07-01 -90 553772E 13m 83.5m 301m

HL-07-02 -90 561997E 19.8m 39.1m 252m

HL-07-03 -90 547832E 2.9m 220.6m 303m

Evaluation of the drilling results is continuing. Compilation of historical exploration is planned in order to select additional targets for future drill investigation. Based on the compilation work, additional ground geophysics may be necessary prior to selecting further drill targets.


A sandstone boulder sampling program and a detailed lake sediment sampling program were completed over the property. The boulder sampling program was designed to test for clay alteration and samples were collected every 150 metres, over a total of 85 line kilometres, 353 lake sediment samples were also collected and have been submitted for analysis. Additional geophysical processing of two airborne target areas is underway. Further work plans will be determined once the analytical and geophysical results are received.

RIOU RIVER - 13,686 Ha

A detailed lake sediment geochemical sampling program is underway focusing on areas where historical sampling results indicated elevated values for uranium and indicator elements. A radon in waters sampling program, and sampling of historical core from the property is also underway. Additional geophysical processing of the MEGATEM survey data is being completed to assist in determining the appropriate ground geophysical follow-up.

The Qualified Person, as defined by National Instrument 43-101, responsible for the technical data in this news release is Ron Nichols, P. Eng., Vice-President of Exploration.

About Santoy Resources

Santoy Resources Ltd. is a mining exploration company focused primarily on the energy sector. Emphasis is being placed on uranium projects in the Athabasca Basin of Saskatchewan, in Wollaston Domain rocks in northern Manitoba, in south-central British Columbia, in the Otish Mountains of Quebec, and in the Central Mineral Belt of Labrador. A description of our properties, including maps and photographs, can be viewed on the Company's website at

On Behalf of the Board of Directors


Ron Netolitzky, President

Cautionary Statement on Forward-Looking Information

The statements made in this News Release may contain certain 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.

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

Contact Information

  • Santoy Resources Ltd.
    Ron Netolitzky
    (604) 669-4799
    Tony Perri
    Investor Relations, Manager
    (604) 669-4799
    (604) 669-2543 (FAX)