Canadian Resources House Limited

Canadian Resources House Limited

August 16, 2006 09:00 ET

Canadian Resources House Limited: Second Uranium Project Acquisition

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 16, 2006) -


Canadian Resources House Limited (the "Company") (CNQ:CRHL) is continuing with its acquisition of uranium projects in Africa. The Company's first acquisition, the Kitongo Uranium Project in northern Cameroon, was previously reported by the Company on June 20, 2006.

The Company has now acquired a second uranium property, the Lolodorf Uranium Project, located in southern Cameroon, approximately 100 kilometres by road south of the capital city of Yaounde.

The 1,000 kilometre square Lolodorf exploration licence covers uranium occurrences explored between 1980 and 1983 by the French Bureau de recherches geologiques et minieres (BRGM) and in 1983 by the International Atomic Energy Agency (IAEA) through its International Uranium Resources Evaluation Project (IUREP).

Uranium mineralization at Lolodorf is hosted in a 2 to 5 kilometre-wide zone of syenitic intrusive rocks that extend for a length of approximately 80 kilometres east of the town of Lolodorf. Airborne and ground radiometric surveys conducted by BRGM throughout the syenitic belt resulted in a number of anomalies that were mapped and tested during a reconnaissance drilling program in 1983.

The drilling program intersected pyrite-rich zones along with uranium occurring as uraninite and uranothorite associated with chalcopyrite, molybdenite and galena. Approximately 25 holes reaching depths of 50 to 80 metres were drilled through lateritic soils ranging in depths to 30 metres then into the syenite host rocks. This drilling program took place at four localities but did not provide a detailed assessment of the full potential of the uranium mineralization.

The Lolodorf Uranium Project contains an historical resource of 1,200 tons U3O8 at a grade of 0.1% U3O8, as was reported in a 1983 OECD/NEA (Organization for Economic Cooperation and Development/Nuclear Energy Agency) report titled "Uranium Resources Production & Demand, Cameroon". The Cameroonian geologist, Dr. AMR Edimo (Ministry of Mines in Cameroon), involved with the program at that time, indicated that the upper layers of the syenite appeared to be highly weathered, resulting in the uranium being leached out in the tropical jungle environment, and that the grade of uranium could have the potential to increase with depth (personal communication, Dr. Brian Hambleton-Jones).

Grades up to 1.0% U3O8 were reported within an IAEA report in 1983, "Orientation Phase, Report on Cameroon" (Michael de Trey and George W. Leney). The IAEA report assessed the uranium potential of the Lolodorf syenite belt and determined that the presence of multiple uranium prospects had additional exploration potential.

The Lolodorf deposit has been compared by Dr. Edimo to uranium mineralization analogues occurring in similar geological tectonic settings in Brazil. These include the Lagoa-Real, Espimmaras and Itataia uranium deposits. The grades of the Brazilian deposits range between 0.08% - 0.9% U3O8.

The historic resource was reported prior to the implementation of National Instrument 43-101 ("NI 43-101"). The historical resource has not been re-defined to conform to CIM standards as defined by NI 43-101. Data concerning the historical resource was obtained from sources believed to be reliable and relevant. The Company is not treating the historical resource as an NI 43-101 defined resource or reserves as verified by a Qualified Person. Until such time as the Company is able to verify and classify the historical resource in accordance with CIM standards, the historical resource should not be relied upon.

The Company's exploration program in Cameroon is under the technical direction of Dr. Brian Hambleton-Jones, DSc., a Qualified Person as defined by National Instrument 43-101, and has reviewed the technical data presented in this release.

As well as continuing to secure additional uranium acquisitions in Africa, the Company is currently examining opportunities in Europe and Australia.

John S. Brock, President

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 future production, reserve or resource potential, exploration drilling, exploitation activities and events or developments that Canadian Resources House Limited (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, exploitation and 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.

Information Concerning Estimates of Mineral Resources:

This news release may use the terms "inferred resources", "indicated resources", "mineral resources" or "resources". Canadian Resources House Limited (the "Company") advises investors that although these terms are recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize these terms. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. In addition, "inferred resources" have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, or economic studies except for a Preliminary Assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

For more information on the Company, Investors should review the Company's filings available at

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