Bonaventure Enterprises Inc.

June 05, 2008 13:38 ET

Bonaventure Issues Update on Flagship K9 Uranium Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2008) - BONAVENTURE ENTERPRISES INC. (TSX VENTURE:BVT)(FRANKFURT:YQG) is pleased to provide a further update on the exploration program on its flagship K9 Uranium Property "K9".

K9 hosts some of the highest secondary Parts Per Million uranium values located within the Province of Quebec according to the Quebec government's Ministere des Ressources Naturelles et de la Faune (Beaumier, 2008), based on the more than 40 years of geological data collection in the Province.

The exploration program at K9 is formulated over a three-phased campaign culminating with resource definition. The Phase 1 model validation consisted of airborne geophysics, surface grab sampling work, surface spectrometer readings and assaying all completed between the project acquisition in September and December 2007, and resulting in the production of two internal Company technical reports.

The major consequence of the Phase 1 program was the outlining of a 7 km X 1 km enriched primary uranium-rich corridor (the "K9 Uranium Corridor" or "K9UC") containing 14 near-surface uranium targets. The K9UC remains open at depth and laterally along strike. The K9UC and 14 targets are currently being drilled to determine continuity and grade of the uranium mineralization in a 10,000 m Phase 2 delineation drilling program. Once completed, a Phase 3 resource definition program will be initiated covering an additional 10,000 m of drilling expected to commence in Q4-2008.

The 10,000 m Phase 2 drilling, which commenced in March 2008, consists of two tranches. The initial 6,000 m will test all anomalies with no less than 2 - 3 holes drilled at average depths of 150 m per target. The remaining 4,000 m consists of delineation drilling to confirm continuity and grades of the uranium mineralization on the best targets.

Given the harsh 2007/2008 winter conditions, the most prospective western portion of the property with visible outcrops and the highest radioactivity and uranium assays in surface grab samples was not accessible during the winter drill program. The Company was, however, able to complete the infrastructure development including a 20-person winterized and all-season camp, road access from the camp to the target and drill site, and sufficient fuel and equipment supplies for the first 10,000 m Phase 2 drilling. The Company is well-positioned for future exploration at K9.

The Company has completed 4,229 m in Phase 2 drilling on a 2 km segment within the eastern portion of the property. The Phase 2 drilling to date has already confirmed that the higher levels of uranium in surface grab samples and broad radioactive zones at surface based on the spectrometer readings taken in 2007 are continuous at depth. These broad radioactive zones tend to be more concentrated in multiple lenses of varying widths based on single drill hole intercept, which can be divided into three types of radioactive anomalies - single spiked, multiple spiked and broad-multiple spiked radioactive anomalies.

Single spiked radioactive anomalies tend to very narrow signatures, centimetric widths, likely associated with single radioactive mineral grains. These anomalies can be observed in 5 drill holes.

Multiple spike radioactive anomalies are single spiked anomalies likely related to widely disseminated radioactive mineral grains, and may occur in partial and entire drill holes. This signature is seen in 6 drill holes.

Broad-multiple spiked radioactive anomalies have a minimum ten-fold increase in background radioactivity, and can extend over tens of meters in width, up to 93 m in K9- 11, and is the norm for the holes drilled to date, being present in 13 holes.

The multiple spike radioactive anomalies also occur in association with the broad-multiple spike anomalies, and the combination is present in 19 of 25 drill holes, lending support, even without the uranium assays, to marker radioactive lithologies and structures. The average width of the radioactive lenses is 39 m within a range of 7 m to 93 m from 32 intervals.

Approximately 1,750 m of the remaining 6,000 m of drilling will recommence with 2 dedicated diamond drills during the week of June 16, 2008, to focus on the remaining targets along the 3 km main western portion of K9. The remaining 4,000 m of the Phase 2 delineation drilling will immediately follow and is expected to be completed in Q3-2008 with assay results to follow.

Drill core descriptions and sampling, and down-hole gamma-scintillometre surveying has been completed in all 25 holes drilled to date. The uranium assays, the key indicator required for calculating continuity and volume of mineralization to be used in developing a three-dimensional model, are pending for the 1,033 core samples sent for assaying to ALS Group Laboratories of Val-d'Or, Quebec.

"It is very encouraging that 19 of 25 drill holes have intercepted radioactive, and likely mineralized structures with the confirmed continuity of surface results at depth, particularly on the least prospective portion of the property. We look forward to the Phase 2 assay results expected in the next few weeks. The camp and infrastructure are in place, and the mobilization of the 2 dedicated drills onto the highly prospective western portion of the property will occur in the next 2 weeks," said Mr. Jean Lafleur, P. Geo. President and CEO of the Company.

The information contained in this release was prepared by Mr. Jean Lafleur, P. Geo., President & CEO of Bonaventure Enterprises Inc., and a Qualified Person under National Instrument 43-101 standards.

About Bonaventure Enterprises

Bonaventure Enterprises Inc. (TSX VENTURE:BVT)(FRANKFURT:YQG) is a mineral exploration company focused on the acquisition and development of large projects demonstrating the ability to host World-Class mineral deposits.

The property portfolio consists of uranium and gold exploration assets. The Company has a 100% interest in the flagship K9 Uranium Property located in the James Bay region in Quebec, as well as other uranium assets located in the North Shore region of Quebec and uranium, polymetallic and diamond assets located in the Athabasca Basin in Saskatchewan.

The Company holds highly prospective gold exploration properties in Nevada with the potential to host World-Class Carlin-type gold deposits. The Company has an option agreement to acquire up to 60% interest in the New Pass Property located in Austin, Nevada and the Squaw Creek Property located on the northern extension of the Carlin Trend in northern Nevada. The Company also holds a 100% interest in the Goldfields, Cottonwood, Jet and Northern Lights properties located in western and southern Nevada.

On behalf of the Board of Directors

Jean Lafleur

The Company's public documents may be accessed at

This news release may contain forward-looking statements reflecting the Company's objectives, estimates, expectations and the impact of acquisitions on the Company's financial performance. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from the Company's projections or expectations.

The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release.

Contact Information