Delta Uranium Inc. (formerly WavePower Systems International Inc.)

Delta Uranium Inc. (formerly WavePower Systems International Inc.)

November 20, 2007 09:24 ET

Delta Uranium Reports Partial Results on Its Bee Lake Uranium Occurrence

TORONTO, ONTARIO--(Marketwire - Nov. 20, 2007) - Delta Uranium Inc. ("Delta" or the "Company") (TSX VENTURE:DUR) is pleased to announce that partial geochemical results have been received for the Bee Lake uranium occurrence, as part of the Company's ongoing exploration program on its 100% owned Kenora Uranium Project, Northwestern Ontario. Results for the 40 geochemical samples, comprising six channel sample intervals (39 individual samples) and one grab sample, returned uranium values ranging up to 0.30% U3O8 (6.0 lbs U3O8). The channel samples represent over 90m of strike length along a granitic pegmatite shown to have anomalously high airborne and ground radiometric geophysical signatures.

Channel Samples Return up to 6 lbs/ton U3O8

The six channel samples, taken over widths ranging from 1.5 to 7 metres, returned the following average grades:

Location Channel Interval (m) Range U3O8 (%) % U3O8 lbs/ton U3O8
Bee Lake Bee 1 7 0.01 - 0.30 0.07 1.4
Bee Lake Bee 2 1.5 0.01 - 0.11 0.06 1.2
Bee Lake Bee 3 3 0.01 - 0.23 0.07 1.4
Bee Lake Bee 4 3 0.02 - 0.14 0.08 1.6
Including 1.5 0.12 2.4
Bee Lake Bee 5 3.5 0.01 - 0.08 0.04 0.8
Bee Lake Bee 6 4 0.01 - 0.22 0.06 1.2

Grab Sample Returns Greater than 5 lbs/ton U3O8

The single grab sample, taken from partially exposed bedrock south of the channel sample locations, returned a value of 0.26% U3O8 (5.2 lbs U3O8).

The mineralization also shows a strong association with molybdenum, with values up to 0.04% (0.8 lbs/ton Mo).

Owing to the limited exposure in the area, channel samples were taken wherever possible and when considered as a group, describe over 20m of width to the pegmatite body. The results indicate a strong consistency to the uranium content of the pegmatite in this area as well as the potential for significant widths and strike length. Sampling has only targeted a relatively small section of the radiometric anomaly to date, and given these significant U3O8 values, has been extended in both directions. Given these encouraging results, the Bee Lake zone will be slated for a winter drilling program to confirm the surface results to depth and extend the mineralization along strike.

Wayne Isaacs, CEO of the Company states that, "these are our very first reported results and we are excited to see that these have met and in some areas exceeded management s expectations. We are also excited that our additional 41 uranium occurrences contained within our Kenora Uranium Project will start returning results soon. Our exploration program is now well under way and we are looking forward to releasing further results as they become available."

The Bee Lake Occurrence

The Bee Lake occurrence is located in Tustin Township and was discovered in the early 1950's. The property has seen extensive exploration in the form of magnetometer and scintillometer surveys, trenching and limited diamond drilling.

Radioactive mineralization is associated with an irregular pegmatite mass that has a historically reported thickness of up to 30m and length of 820m. The pegmatite is in contact with intermediate to mafic metavolcanics, to the north of the mineralized pegmatite and gneissic granodiorite of the Feist Lake Pluton to the south. The pegmatite is coarse grained and composed of pink microcline and quartz, with minor amounts of biotite and hornblende, and rare molybdenite.

In 1955, three diamond-drill holes, totalling 261.5 metres were drilled into the pegmatite, while a series of 12 trenches, of unknown age, were sunk on the mineralized zone. In 1968, six diamond-drill holes, totalling 383.7 m were drilled on the property by Olympia Mines Limited.

To the southeast of the Bee Lake occurrence is the Petursson Lake uranium showing, which has been interpreted to represent a strike extension of the Bee Lake Zone. Dimensions of the radioactive zone have been historically reported in excess of 400m in length and up to 10m wide. Historical results for this zone include up to 42 lbs/ton U3O8 in grab samples taken in the pegmatite.

Current exploration by Delta suggests that the Bee Lake-Petursson Lake Zone does in fact represent a continuous section of pegmatite-hosted mineralization, and that the potential dimensions are larger than previously thought. Future exploration will be designed to confirm this interpretation through further surface sampling and the commencement of diamond drilling.

About the Kenora Project

The Bee Lake occurrence is one of 42 known historical occurrences that occur within Delta's 100%-owned Kenora Uranium Project. The Kenora Uranium Project is comprised of 163 claims covering a total of 29,680 hectares located approximately 30 km east of the town of Kenora in Northwestern Ontario. Delta's property hosts an unusually large number of uranium occurrences, which coincide with a large uranium anomaly in lake-bottom sediments.

The Kenora properties are considered to have significant potential to contain uranium deposits as known basement rocks (leucogranitic peraluminous bodies) are favourable uranium hosts; and previous exploration has shown ubiquitous uranium mineralization, including one area which has seen limited mining development. In addition, the numerous unexplored airborne radiometric and geochemical anomalies identified by the current exploration program indicate a greater potential than was originally thought for the area.

Qualified Person

Exploration on the Company's Kenora Project is conducted under the supervision of David Palmer, Ph.D., P.Geo. (ON), a Qualified Person as defined under National Instrument 43-101. Dr. Palmer has read and approved this news release. All samples were sent to Accurassy Laboratories in Thunder Bay, Ontario for analysis.


The Company would also like to announce that its Board of Directors granted an aggregate of 1,800,000 options to directors and officers of the Company. Each option is exercisable at $1.00 per common share at any time until November 20, 2012. Options granted replace previously announced option grant on November 13, 2007.

About the Company

Delta Uranium Inc. is engaged in the exploration of uranium in Canada. The Company recently completed the acquisition of its 100% owned Kenora Uranium Project and holds 100% interest in over 70,000 hectares of additional uranium properties in Ontario. Delta completed a non-brokered private placement raising gross proceeds of $8,833,000 on November 9, 2007 and its common shares commenced trading on the TSX Venture Exchange on November 14, 2007.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information