Waseco Resources Inc.

Waseco Resources Inc.

July 13, 2009 10:05 ET

Waseco Initiates Uranium Drill Program

TORONTO, ONTARIO--(Marketwire - July 13, 2009) - Waseco Resources Inc. (TSX VENTURE:WRI)(FRANKFURT:WSE) is pleased to announce that an initial diamond drilling program has started on its Du Portage Uranium Project in the Quebec Labrador Trough, Canada. The drilling is part of the $1.1 Million 2009 exploration program being funded by the AREVA group.

The targets have been selected based upon favourable airborne geophysical data, including a detailed electromagnetic (VTEM) survey completed earlier in the year, and grab samples assayed following last year's field work, which included 5 samples that assayed at the maximum for uranium, at better that 1000ppm (greater than 0.1%- the maximum reading from Neutron Activation/Mass Spectrometry (INAA/MS). multi-element analysis).

The initial focus of the program will be on a 3,000m by 1,500m area where the presence, location, direction and dip of the most interesting conductor structures have been interpreted to be by the AREVA geologists and geophysicists.

The initial 1,400m program is planned to consist of 4 to 8 holes to depths of 150m to 350m. The first 133 meters of good quality core have been recovered from the first hole. The program is expected to take approximately 1 month to complete.

Loic Garnier, Geo. and Exploration Director of AREVA Quebec, Inc. is the Qualified Person under NI 43-101 who has reviewed and approved the technical contents of this release. A.C.A (Peter) Howe, P.Eng. and Qualified Person under NI 43-101, has reviewed the technical contents of this release on behalf of the Company.

Waseco Resources Inc. is an exploration company focused primarily on uranium exploration in the Quebec Labrador Trough where it is working with the AREVA group. The Company is profitable, debt free and trading on the TSX Venture Exchange and the Frankfurt Stock Exchange. There are currently approximately 30.8 million shares issued and outstanding.


With manufacturing facilities in 43 countries and a sales network in more than 100, AREVA offers customers reliable technological solutions for CO2-free power generation and electricity transmission and distribution. AREVA is the world leader in nuclear power and the only company to cover all industrial activities in this field. AREVA's 75,000 employees are committed to making sustainable development the focal point of the group's industrial strategy.For further information on AREVA, please visit the company web site at www.areva.com.

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.

Contact Information