Uranium North Resources Corp.

Uranium North Resources Corp.

February 01, 2010 09:00 ET

Uranium North Identifies Gold Potential on KAM Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2010) - Uranium North Resources Corp (TSX VENTURE:UNR) announces the recovery of abundant gold grains from glacial till on its 100% owned KAM property in Nunavut. An anomalously high concentration of gold grains have been recovered from till collected over an underexplored volcanic rock unit.

The Company considers the KAM gold results highly significant as they represent the largest anomalous concentration of gold in till within a 100 x 100 kilometre region. There is no record of previous gold exploration in the area and based on this till data and geology, KAM may represent a new gold district in Nunavut. Further, a high percentage of the gold grains recovered exhibit surface morphology showing low to moderate transport distances that indicate the gold source is nearby. A fault-bound contact immediately east of the anomaly is a target for detailed exploration.

Planning is underway for a gold exploration program at KAM. Work will include additional till sampling and detailed prospecting towards and along a regional structure in an attempt to locate bedrock gold sources for drill testing.

"Our strategy of generating gold projects allows the shareholders to own the company for its uranium potential and at the same time participate in a strong gold market" says Mark Kolebaba, President and CEO of Uranium North.

The identification of gold at KAM is the second of several new gold opportunities identified by the Company. Over the next few months the Company plans to further expand its interests in gold and other metal commodities through its large proprietary geochemical and geophysical databases.

Uranium Potential at KAM

In addition to the gold potential, KAM is a high priority uranium target. Drilling by the Company has identified significantly large alteration zones with high grade U3O8 intersections. (See news release dated December 04, 2008.)

The most significant drill results from three drill holes are summarized in the table below. The next uranium exploration programs at KAM will focus on determining the orientation of the mineralization. A better understanding of the orientation of the mineralization will help define a potential uranium resource on the property.

Drill hole From (m) To (m) Interval (m) % U3O8
K-05-08 50.2 60.2 10 0.3
Including 53.2 57.2 4 0.56
K-05-08 103.7 108.7 5 0.42
Including 105.7 106.7 1 1.16
K-03-08 150.1 157 6.9 0.23
K-03-08 175.67 184.7 9.03 0.36
 Including 177.7 181.7 4 0.7
Including 177.7 178.7 1 1.59
K-02-08 27.13 35.13 8 0.12
 Including 31.13 35.13 4 0.21

Bruce Kienlen, P.Geol, is the Qualified Person as defined by National Instrument 43-101, responsible for collection of the till samples collected for the project and has reviewed and approved the technical information relating to the till samples in this release.

About Uranium North

Uranium North Resources Corp. is a Canadian company with a Nunavut focus. Uranium North holds title to the second largest uranium resource in Nunavut, the Amer Lake Deposit. While maintaining its focus on uranium, the company is generating gold projects to continue to build strong shareholder value. 

On behalf of Uranium North Resources

Mark Kolebaba President and CEO

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp (the "Company") expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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