Energy Metals Corporation
TSX : EMC

Energy Metals Corporation

August 17, 2006 09:30 ET

Energy Metals Initial La Palangana Drilling Results Confirm Continuation of Mineralization, Permitting Studies and Hobson Plant Refurbishment Continue on Schedule

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 17, 2006) - Energy Metals Corporation (TSX:EMC) is pleased to announce results of initial drilling at its 99%-owned South Texas Mining Venture (EMC-STMV). Drilling began on the La Palangana in-situ recovery (ISR) project near Benavides, Texas, on July 11, 2006 and is continuing with two rigs. EMC's objectives at La Palangana are twofold: (1) Definition and delineation drilling to facilitate wellfield design within the existing 43-101 compliant resource of 5.7 million pounds eU3O8 (Standard uranium Inc. news release dated January 26, 2006), and (2) Expansion of the existing resource through wide-spaced grid drilling over the entire 6900-acre property.

The initial drilling pattern is designed as an expanding 100-foot grid surrounding an isolated high-GT (grade x thickness) Union Carbide hole that intersected 14.5 feet grading 0.297% eU3O8 at a depth of 375 feet, yielding a GT of 4.31. The nearest historic drilling to this isolated hole is more than 500 feet away. Of the 11 holes drilled to date, six are classified as ore (GT equal to or greater than 0.50), one as strong (GT equal to or greater than 0.30 but GT less than 0.50) and the remaining four as weak (GT less than 0.30). Four of the holes intersected the targeted roll front proper, confirming its direction and tenor. In addition, a second, shallower roll front system containing ore grade intercepts was also intersected. Further drilling will step out along the strike of these fronts. The two best holes intersected to date were 11'/0.174% eU3O8 (1.912 GT) and 7.5'/0.112% (0.838 GT).

La Palangana Drill Results



--------------------------------------------------------------------
Depth Thickness Grade GT Roll
Well ID (ft) (ft) (%eU3O8) (ft%)(i) Geometry(i)
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LP-034 - - Weak - Seep
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LP-035 388.0 11.0 0.174 1.914 Roll
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LP-036 - - Anomalous - -
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215.5 13.0 0.044 0.572 Roll
LP-037 ---------------------------------------------------------
361.5 3.5 0.048 0.168 Wings
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215.0 6.5 0.038 0.247 Wings
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LP-038 368.0 4.5 0.071 0.320 Wings
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375.0 9.5 0.078 0.741 Wings
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LP-047 219.0 7.0 0.039 0.273
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LP-048 - - Anomalous -
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219.5 3.5 0.039 0.137 Wings
---------------------------------------------------------
LP-049 231.5 6.0 0.070 0.420 Roll
---------------------------------------------------------
364.0 5.0 0.049 0.245 Wings
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LP-050 376.0 7.5 0.112 0.840 Roll
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LP-051 386.0 9.0 0.059 0.531 Roll
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LP-052 358.5 8.0 0.075 0.600 Roll
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(i)Roll Geometry refers to position of mineralization on roll front:
"Seep" equals Past Roll front; "Roll" equals On roll front;
"Wings" equals Alteration side of roll front


Geologic review and mapping of the area surrounding the old Union Carbide ISR well field is in progress preparatory to beginning wide-spaced grid drilling over relatively unexplored portions of the La Palangana property. An isolated group of Union Carbide holes in the southeast corner of the property have been evaluated and four subrolls defined in this system, the second proposed drilling area. The Company expects delivery of its two 100%-owned PFN (Prompt Fission Neutron) logging units by late August.

Site characterization studies preparatory to mine permitting are proceeding concurrently with ongoing drilling. This work is designed to demonstrate compatibility of the project with public health and environmental requirements. Baseline water quality and hydrology, soil and ecologic surveys, socio-economic evaluation, and historic, scenic and cultural resources are included in the studies. EMC is also developing pertinent data required for permitting a deep disposal well at the mine site under Texas Commission on Environmental Quality Regulations.

Cleanup and modernization work at the licensed Hobson Central Processing Plant is also continuing. The plant was originally constructed by Everest Exploration in 1979 with a rated capacity of 500,000 pounds U3O8 (yellowcake) per year. EMC's refurbishment includes an upgrade to one million pounds per year.

National Instrument 43-101 Disclosure

The technical content in this news release has been read and approved by Frank Ludeman, CPG, (American Institute of Professional Geologists, CPG-01759) a qualified person as defined by National Instrument 43-101, has reviewed this news release and is responsible for its content.

Energy Metals Corporation

Energy Metals Corporation is a TSX listed Canadian company focused on advancing its industry leading uranium property portfolio towards production in what is the world's largest uranium consumer market, the United States of America. Energy Metals Corporation has extensive advanced property holdings in Wyoming, Texas and New Mexico that are amenable to ISR (in-situ recovery) along with one of the industries' leading and most experienced ISR technical teams led by Dr. Dennis Stover. This in-situ form of uranium mining was pioneered in Texas and Wyoming and utilizes oxygenated groundwater to dissolve the uranium in place and pump it to the surface through water wells. Energy Metals is currently developing the La Palangana uranium deposit and upgrading the Hobson Uranium Processing Plant in Texas for an anticipated 2008 production date. Energy Metals is also actively advancing other significant uranium properties in the States of Colorado, Utah, Nevada, Oregon and Arizona.

Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Energy Metals' actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: volatility of natural resource prices; product demand; market competition and risks inherent in the company's operations. These and other risks are described in the Company's public filings with Canadian Securities Regulators available at www.sedar.com and with the Securities and Exchange Commission available at www.sec.com.

Copyright (C) 2006 by Energy Metals Coporation. All rights reserved.


Contact Information

  • Energy Metals Corporation
    Paul Matysek
    CEO and President
    (604) 684-9007
    or
    Energy Metals Corporation
    Bill Sheriff
    Corporate Development, Director
    (972) 333-2214
    or
    Energy Metals Corporation
    Ran Davidson
    Corporate Communications
    (604) 697-5688
    www.energymetalscorp.com