Tribune Uranium Corp.

Tribune Uranium Corp.

October 04, 2007 09:00 ET

Tribune Uranium Corp.: Operational Update-Athabasca Basin Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2007) - Tribune Uranium Corp. ('Tribune' or the 'Company') (TSX VENTURE:TCB)(FRANKFURT:S8QA), together with its joint venture partners, Thunder Sword Resources Inc. (TSX VENTURE:THU) and 101073531 Saskatchewan Co., as Operator, is pleased to provide an update on its proposed drill program for Botham Lake and exploration activities on its other Athabasca Basin projects.

Operational Update:

The 2007 summer work program has concluded. Our primary focus of activity was on the Botham Lake claims, as this area is the most advanced prospect area in terms of exploration completed and processed, and also contains the strongest observed anomalies as reported by Patterson Geophysics.

1. Botham Lake Project:

During the period Jan 2007 to present, the joint venture partners, expended approximately $500,000 on further defining the proposed drill targets for its phase 1, 4000 m drill program at Botham Lake. The additional work included airborne electromagnetic and magnetic surveying, and ground geophysics. After final review and analysis of the information, the Company identified 19 preliminary drill targets across 3 grids, Grid B79, Grid B45, and Grid B2. In prioritizing these targets, the parties focused on the projected intersection of conductors with cross-cutting structures, and then compared the geophysical signatures to those of known deposits. The grids and targets identified are as follows:

Grid B79

The most promising area is the southern portion of grid B79. Several distinct conductors are present which follow magnetic trends and coincide with the boundary of pelitic rock with gneisses. 3 distinct conductors have been identified.

The #3 conductor, is the strongest of the anomalies on Grid B79. Conductor #3 has an average dip of 60-80 degrees NW and the calculated depth to top is usually less than 30m. Three targets have been identified on or near Lines 2600S and 2400S and Line 1000S.

The #1 conductor is strongest near the south end of the grid, with a calculated dip of 50-80 degrees SE, although this may be distorted. Depth is on average calculated at approximately 50m. Three targets are proposed on this anomaly, on or near Line 3000S, 2600S, and 2400S.

The #4 conductor is a relatively strong airborne conductor, though not well-defined on most ground EM lines. Folding and faulting have likely distorted this conductor. One target is identified on or near Line 300S.

Grid B45

Two distinct conductors have been identified.

The #1 conductor widens towards the north end of the grid, exhibiting a medium-strong EM response on all lines. The appearance is that of a double conductor; the two signals overlap and interfere with geometry calculations. A single target is identified on or near Line 800S.

The #3 conductor forms a curve, following a magnetic trend approximately 700m NW of anomaly 1. A single target is identified on or near Line 600S.

Grid B2

The strong main anomaly on Grid B2 experiences an offset of approximately 400m between lines 2200S and 2600S. Anomaly B2 is up to 80m deep, dips 60-70 degrees E and strikes close to N-S. Five targets have been identified on or near Lines 2200S, 2400S, 2600S, 1400S and 1200S.

Fall 2007 Drill Program Update - Botham Lake Project

While some delays in permitting were experienced over the summer season, we are now in the process of mobilizing the ground prospecting crew at Botham Lake. The prospecting crew will focus its efforts on the identified conductors and the gridded areas, as well as assessing the proposed drill sites for access and ground conditions. Finalization of the drill contract terms with Major Drilling International, who will be providing the necessary drill rigs and crew to advance the estimated $1 million Phase 1, 4000 meter drilling program, is expected shortly. Drilling is expected to commence by mid to late October 2007. Under the option agreement Tribune is required to fund the $1.5 million 2007 exploration program.

2. Dufferin East Lake Project:

With the Botham Lake drill program advancing rapidly, exploration efforts on the Dufferin Lake property have now begun and will become a primary focus of the joint venture partners in 2008. The Dufferin East prospect is considered to be an exploration target with high grade potential given its proximity to and immediately offsetting Cameco's "Centennial Zone" discovery to the west. Recent drilling on Cameco's adjacent ground intersected 18.3 per cent U3O8 over 5.3 metres in drill hole VR-22W2 and 6.72 per cent U3O8 over 5.2 metres in drill hole VR-024. Tribune's management team is encouraged by the results encountered by Cameco.

3. Virgin Lake Project and Wollaston Lake Project

On September 7, 2007, Tribune entered into a formal option agreement with Athabasca Developments Corp. whereby Tribune will have the right to acquire a 90-per-cent interest in five properties owned by Athabasca in Saskatchewan.

The Virgin Lake Project covers approximately 10,190 hectares adjacent to Cameco's Virgin River uranium project and the newly discovered "Centennial Zone". The Wollaston Lake Project covers approximately 11,000 hectares in the eastern Athabasca Basin. Deposits within 25 kilometers of the property collectively have resources and production of more than 317 million pounds of U3O8 (uranium). The Rabbit Lake and Jeb mills, located on nearby properties, are fully functional uranium ore processing mills operated by Cameco and Areva Resources Canada Inc. Exploration programs on both projects are currently being developed for the 2008 season.

"Management is excited to announce the mobilization of the Botham Lake exploration program, currently Tribune's second exploration program in progress. The announcement of these programs is an integral part of Tribune's strategy to aggressively acquire and explore drill ready uranium properties," states Graham Harris, CEO and Chairman of Tribune Uranium Corp.

This news release has been prepared under the supervision of Robert Schafer, P. Geol., who is a Qualified Person under National Instrument 43-101.

About Tribune Uranium Corp.

Tribune Uranium Corp. is a Canadian exploration company committed to the strategic acquisition of drill ready uranium projects. Led by an experienced management team, the Company plans to aggressively explore its current portfolio of highly prospective uranium properties. The Company headquarters are in Vancouver, BC and shares are traded on the TSX Venture Exchange (TCB) and the Frankfurt Exchange (S8QA).


Graham Harris, Chairman and CEO

Forward-looking statements:

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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

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