ESO Uranium Corp.
TSX VENTURE : ESO

ESO Uranium Corp.

July 21, 2005 12:46 ET

ESO Uranium Commences Exploration on its Athabasca Basin Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 21, 2005) - ESO Uranium Corp. (TSX VENTURE:ESO) ("ESO" or "the Company" formerly Essendon Solutions Inc.) reports that its Cluff Project, located in the Athabasca Basin of Northern Saskatchewan, adjoins the boundary of UEX/Cogema's Shea Creek property, where a drill intercept has returned 27.4% U3 O8 over 8.8 meters.

This intercept was located within a zone of conductors which, as a result of an evaluation of previous work, appears to extend northwest onto ESO's Cluff Project.

ESO is exploring three projects covering more than 320,000 acres in the Athabasca Basin, namely the Cluff, Hook and Mandin projects.

CLUFF PROJECT

The Cluff Project is comprised of approximately 134,582 acres with the following ownership interests:

- 42,578 acres: 100% ESO Uranium Corp (TSX VENTURE:ESO)

- 67,373 acres: 50% with Hathor Exploration Limited (TSX VENTURE:HAT)

- 18,662 acres: 50% with Logan Resources Ltd. (TSX VENTURE:LGR)

- 5,970 acres: 50% with International KRL Resources (TSX VENTURE:IRK)

The Cluff Project is considered highly prospective for high grade unconformity type uranium deposits, as well as Cluff Lake type deposits, as evidenced by the following:

1. Airborne Geotem EM surveys have identified numerous geophysical conductors within the SW area of the property, which strike NW and SE towards the Shea discovery.

2. The project covers the Carswell Structure where two groups of uranium mineralized boulders identified within the Northwestern half contain up to 5.5% U3 O8.

3. A boulder containing 17.9% U3 O8 and 3 grams per tonne gold is located in the Southeast part of the property.

4. Drill hole # CAR 425, located in the northern portion of the project area, intersected 8.5% U3 O8 over 2.3 meters (as per Amok Ltd. Report "Spring Drilling - 1981,ML5249").

HOOK PROJECT

The 100% owned Hook Project is comprised of 130,262 acres located approximately 15 kilometers Southwest of UEX's Shea Creek property.

Cameco, the previous operator at Hook Lake noted "the geological environment at the Hook Lake Project has the potential to host a significant unconformity hosted uranium deposit" (Reference Cameco Corporation report "Hook Lake Project, 2001 Annual Exploration Report").

Cameco's statement is based in part on the occurrence of nine geophysical electromagnetic conductors with a total strike length of seventy-eight kilometers, areas of anomalously high illite and dravite and high cobalt-nickel content within lake sediments.

MANDIN PROJECT

The 100% owned Mandin Project, consists of 61,000 acres and contains evidence for unconformity type uranium deposits as supported by anomously high uranium and cobalt in lake sediment samples.

Exploration programs on ESO's projects will consist of airbourne and ground geophysical surveys, boulder and outcrop sampling and drilling of select targets in conjunction with an extensive evaluation of past work.

THE COMPANY

The Company is a junior resource issuer with an interest in certain mineral claims located in the Athabasca Basin in Northern Saskatchewan. These claims are subject to a 2.5% gross overriding royalty retained by the former owners, however the Company also has the right to purchase 1% of the royalty for $1,000,000. The Athabasca Basin area is known to host uranium and other precious metals mineralization.

These mineral claims are in addition to the 100% interest in the Mikwam claims located in Ontario which the Company currently owns, subject to certain overriding royalties. The Mikwam claims are located in the western extension of the Casa Berardi Deformation Zone which is an area of historical gold and other precious metals mineralization.

On behalf of the Board of Directors of ESO Uranium Corp.

Jonathan George, President & CEO

The Toronto Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management. Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission.

To view the map associated with this release, please click the following link: http://www2.ccnmatthews.com/database/fax/2000/eso0721.jpg

Contact Information

  • ESO Uranium Corp.
    Jonathan George
    President & CEO
    (604) 629-0293
    (604) 684-9365 (FAX)
    ldw@esouranium.com