Transglobal Mining Corp.
OTC Bulletin Board : TMNC

June 04, 2007 11:00 ET

Transglobal Mining Announces Surprise Lake Uranium Project

SASKATOON, SASKATCHEWAN--(Marketwire - June 4, 2007) - Transglobal Mining Corp., ("The Company") (OTCBB:TMNC)(FRANKFURT:KWE) Transglobal Mining has purchased the mineral rights to 2,865 hectares of land for the purpose of Uranium exploration in the Surprise Lake area of British Columbia in the hopes of accessing uranium deposits that are believed to exist in this area.

The Surprise Lake Batholith Uranium property is located 57 kilometres east north east of Atlin, British Columbia, Canada. This property borders a number of properties staked by other uranium exploration companies and the rights were acquired from Decoors Mining Ltd. Transglobal plans to acquire further claims in the near future. The occurrence targeted by the claims is located near the southern margin of the Surprise Lake Batholith which covers about 1100 square kilometres east and northeast of Atlin. The batholith is dated at 3.8 million years old or to the Late Cretaceous period. During 2005, a Spectral Analysis program was undertaken involving the acquisition and processing of satellite spectral data to search for indicators of uranium mineralization in the area. This study used cutting edge technological tools for mineral exploration and the latest computer software available for spectral analysis. The results of this study became the subject of ground truthing and follow up during 2006. Results of the follow up have rendered occurrences of uranium.

During July 1977, eleven claims (187 units) were staked in the area for Mattagami Lake Mines Ltd. to cover a radioactive area discovered by a regional helicopter-borne radiometric survey in 1977. In the reports, this work helped to present anomalies, specifically several sphalerite and magnetite occurrences, but most importantly two uranium anomalies. Considering the popularity of Uranium then and now these areas are now of great interest.

Work Program Planned

Previous data obtained by air born Radiometric Surveys, combined with known highly anomalous Uranium, Sphalerite and Magnetite occurrences should allow Transglobal Mining to carry out a phase 1 exploration program in the current filed season.

Transglobal Mining Corp. is focused on the acquisition of junior mining projects in the areas of Uranium and Gold exploration.

This Press Release may contain, in addition, to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's expectations and beliefs and involve risks and uncertainties. These statements may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. A key factor that could cause actual results to differ materially from those described in forward-looking statements is the inability of the Company to obtain final court approval of the stipulation of settlement.

Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.

Contact Information

  • Transglobal Mining Corp.
    Scott Elgood
    (306) 880-2441