Brades Resource Corp.

Brades Resource Corp.

April 15, 2014 03:30 ET

Fission 3.0 and Brades JV Identifies Anomaly Cluster: Potential Uranium Boulder Field or Outcrop at Clearwater West

Cluster of radiometric anomalies found near existing EM Conductors

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 15, 2014) - BRADES RESOURCE CORP. ("Brades" or "the Company") (TSX VENTURE:BRA)(FRANKFURT:B04) and its joint venture partner FISSION 3.0 CORP. ("Fission 3") (TSX VENTURE:FUU), are pleased to announce the results of two surveys at their Clearwater West property in Saskatchewan's Athabasca Basin. These comprise a high resolution magnetic and Fission 3's patent-pending radiometric airborne survey. The property scale survey has identified a clustering of radiometric anomalies concentrated on the Eastern 10km of the property where compilation of historical data shows north-east trending electromagnetic (EM) conductors to be present. The radiometric anomalies identified so far have been prioritized for ground prospecting follow up this summer.

A property scale airborne VTEM survey, designed to identify basement EM conductors has also been completed and analysis and interpretation is in progress.

Ross McElroy, COO, and Chief Geologist for Fission, commented,

"These results represent a very promising start to the first year of exploration at Clearwater West and warrant follow-up ground prospecting and mapping. We are particularly encouraged that the radiometric anomalies have been identified in the same area as the magnetic low corridor and coincident known EM conductors, possibly related to a structurally associated metasedimentary corridor as is common in Athabasca Basin area deposits. It's becoming increasing clear that this is a highly prospective project."

Brian Biles, Director of Brades, commented,

"We are very pleased with the survey results, particularly because the radiometric anomalies have been identified in the same area as known EM conductors. This is an excellent start to the JV's first year of exploration."

Airborne Magnetic and Radiometric Survey

A northwest-southeast oriented detailed property scale airborne high resolution magnetic and radiometric survey was flown at 50m line spacing for a total of 5,447 line-km. This is same Fission 3/SPI patent pending airborne radiometric survey equipment and "methodology for finding at surface radiometric occurrences" that played a key role in the early stages of Fission Uranium Corp's discovery at the neighboring property of PLS approximately 12km to the north, whereby the survey identified clustered radiometric anomalies that led to the discovery of the high-grade boulder field through ground prospecting.

On the Clearwater West property a number of radiometric anomalies, rated from moderate to weak have been identified, concentrated in the eastern 10km of the property. The clustering of anomalies may possibly represent an expression of a boulder field of glacial origin, or perhaps represent an outcrop source. Follow-up prospecting and mapping of these anomalies are being considered for this up-coming summer program.

VTEM Airborne Survey

A northwest-southeast oriented property scale airborne VTEM magnetic and electromagnetic survey was flown at 200m line spacing for a total of 641.5 line-km. Interpretation of the results is presently underway. Preliminary interpretation shows that EM conductors are present on the east side of the property that may represent on-strike continuation of the EM conductors seen on the PLS property immediately to the north. Such basement EM conductors, when associated with structural features and hydrothermal alteration can represent prime drill targets for uranium mineralization.

Summary of Year One Exploration at Clearwater West

The $0.7 million budgeted work program for year one consists of an airborne EM and magnetics survey and a high resolution radiometric survey utilizing Fission 3's patent-pending airborne radiometric survey equipment and methodology for finding at surface radiometric occurrences. This will be followed by local ground geophysics and geochemical surveys (including radon), to assist in developing high priority drill targets. An updated map can be found on the Fission 3 Corp website at

Summary of the Clearwater West Project

Fission 3's experienced and successful management and technical team, with a track record of two major high-grade uranium discoveries in the Athabasca Basin region in the past three years (Waterbury Lake project and the PLS project), operates and manages Clearwater West. Fission 3 currently holds a 100% interest in Clearwater West.

Brades has entered into a 3-year option to acquire up to a 50% interest in Clearwater West by incurring $5,000,000 of staged exploration expenditures on or before October 14, 2016. Year One minimum exploration requirement is $0.7M.

The Athabasca Basin region hosts the world's richest uranium deposits, with a well-established and politically stable, uranium exploration and mining sector. Fission 3 and Brades consider the recent discovery of high-grade uranium in the southwestern region of the Athabasca Basin to demonstrate the prospective merit of this under-explored area.

Clearwater West lies adjacent to the south of Fission Uranium's Patterson Lake South (PLS) property, host to a high-grade, shallow depth uranium discovery along a 2.24km trend. The best drill hole to date at the PLS discovery includes intersections as high as 38.49% U3O8 over 10.5m in 13.66% U308 over 38.0m and 27.57% U3O8 over 12.0m in 11.19% U3O8 over 31.5m (PLS14-129; Fission Uranium Corp. news release dated February 19, 2014). Fission Uranium is currently conducting an aggressive 30,000m drill program at PLS.

Clearwater West is an early stage exploration project prospective for hosting high-grade uranium mineralization. Such mineralization is structurally controlled and typically associated with basement graphitic shear zones within clay altered metasedimentary basement lithologies. These features have unique characteristics that can be identified by various geophysical surveys. The property covers historic airborne EM anomalies, which could be the extensions of the EM conductors identified on the PLS property immediately to the north.

About Brades Resource Corp.

Brades Resource Corp is a Canadian-based resource company focused on gold in British Columbia and uranium in Saskatchewan's Athabasca Basin - the world's largest source of high-grade uranium. The company has a joint venture with Fission 3.0 Corp. to explore Fission's Clearwater West property at which Fission's award-winning technical team will be the Operator. Brades also has a large, strategically located property at Lorne Lake in the Athabasca Basin and a gold project in British Columbia.

On behalf of the board, Shares issued: 19,331,042
Brian Biles, Director

Neither 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.

This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund the option earn-in on the Clearwater West property and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

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