SOURCE: Uranium City Resources

October 01, 2007 10:47 ET

Update on Status of 43-101 Resource Estimate and Technical Report for UCR

KIRKLAND LAKE, ON--(Marketwire - October 1, 2007) - As previously noted in Press Releases over the past several months, Toronto-based Engineering firm Watts, Griffis and McOuat Ltd. ("WGM") has been reviewing data from Phase 1 and 2 drilling programs at Uranium City Resources' (TSX-V: UCR) East Target as part of an effort to arrive at a National Instrument 43-101 ("NI 43-101") compliant resource estimate.

WGM has carried out a program of independent check sampling at the East Target project and is satisfied with both the outcome of this sampling and with the geological database that is being assembled by UCR. At this time, WGM believes that the initial drilling clearly shows that it will be possible to build a NI 43-101 compliant resource base on the East Target. WGM has recommended that additional Phase 3 drilling be carried out to support a resource estimate with an assurance that this estimate will result in Indicated and Inferred Mineral Resources. This Phase 3 drilling program is on-going at this time. Meanwhile, WGM is continuing with its 3D geological modeling of the project using leading edge Gemcom software to guide UCR's exploration efforts.

Information on UCR as well as the previously reported results from the drilling at the East Target can be found on the company website at www.uraniumcityresources.com.

About Uranium City Resources

Uranium City Resources (UCR) is a Canadian based junior exploration company focused on Uranium exploration in the Uranium City Mining District of northern Saskatchewan. Uranium City Resources has 11 exploration properties comprising more than 100,000 acres. The East Target is its most advanced exploration area, and has been the focus of efforts to date. UCR trades on the TSX Venture Exchange under the symbol UCR.

This news release has been reviewed by Mr. Al Workman, P.Geo. senior geologist and Vice-President of WGM and the independent QP for the UCR project.

Forward-looking statements:

This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond UCR's control or prediction and could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Although UCR believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements.

Contact Information

  • For further information please contact:

    Robert Kasner
    President & CEO
    T: 1.705.567.5351
    E: Email Contact

    Malcolm Bucholtz
    V.P. Investor Relations
    T: 1.306.525.0852
    E: Email Contact

    Head Office:
    4 Al Wende Avenue
    P.O.Box 546
    Kirkland Lake, Ontario
    P2N3J5