Cue Resources Ltd.
TSX VENTURE : CUE

Cue Resources Ltd.

November 23, 2010 09:00 ET

Cue Resources Ltd. Commences Drilling on the San Antonio Uranium Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 23, 2010) - Further to the news release on Nov. 17th, 2010, Cue Resources Ltd. (TSX VENTURE:CUE)("Cue" or the "Company") has commenced the continuation of drilling on the San Antonio uranium deposit located on the Company's 100% owned Yuty project in Paraguay. Drilling will consist of 30 holes totaling approximately 3600 meters and will test the western extension of the main deposit. Cue is utilizing three drills to meet the targeted completion date of Dec. 31st, 2010. (To see a map of the Yuty Project San Antonio Uranium Deposit, please go to the following link: http://media3.marketwire.com/docs/icue1122.pdf)

This current round of drilling is a continuation of the exploration started by Cue in July of 2007. Since that time, Cue has drilled approximately 28,000 meters, in 223 holes, resulting in an NI 43-101 compliant resource including an Indicated Resource of 9.0M tonnes @ 0.042% eU3O8 containing 8.3M lbs eU3O8 and an Inferred Resource of 1.1M tonnes @ 0.050% eU3O8 containing 1.2M lbs eU3O8.

The company is targeting shallow, roll front related, uranium in sedimentary rocks. The basal sandstone unit (San Miguel Formation) is a favorable host for uranium mineralization. 

"We are committed to continue the exploration of the San Antonio deposit in areas not previously drilled. This phase of drilling could determine the boundaries of the western extension of the main deposit and further define the parameters of the deposit. From this data, we will determine the next phase of drilling to follow," stated Robert Tyson, President and CEO of the Company.

About Cue Resources

Cue Resources Ltd. is focused on developing the Yuty Uranium District in south-eastern Paraguay. Two major drilling campaigns have been completed by Cue leading to the completion of the most recent NI 43-101 compliant resource reporting an Indicated Resource of 9.0M tonnes @ 0.042% eU3O8 containing 8.3M lbs eU3O8 and an Inferred Resource of 1.1M tonnes @ 0.050% eU3O8 containing 1.2M lbs eU3O8. Column leach tests have demonstrated recovery of up to 86% of the contained uranium from cores taken from San Antonio. In addition, laboratory testing on drill cores has shown permeability and porosity values within the range of existing commercial ISR operations. For detailed information, please see the Cue web site at http://www.cue-resources.com.

Chris M. Healey, P.Geo, a director of Cue, is the Qualified Person responsible for the technical content of this release.

On behalf of the Board of Directors

Robert S. Tyson, President and Chief Executive Officer

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