Manson Creek Resources Ltd.

Manson Creek Resources Ltd.

November 09, 2006 12:39 ET

Manson Creek Resources Ltd.: Black Lake Uranium Property Acquired

CALGARY, ALBERTA--(CCNMatthews - Nov. 9, 2006) - Manson Creek Resources Ltd. ("Manson Creek") (TSX VENTURE:MCK) is pleased to announce the acquisition of the Black Lake Uranium property, located approximately 40 kilometers from Stony Rapids, in northern Saskatchewan.

The property will be explored for basement-hosted uranium deposits, a deposit type that has been under explored in the province. The seven mineral claims, totaling 5,848 hectares, host known uranium occurrences, and are located within, or near, major regional trends believed to be active during the mineralizing processes.

The occurrences within this area are commonly contained within lit-par-lit type pegmatite which is part of a paragneiss sequence. Uranium mineralization within these occurrences is commonly associated with molybdenite, pyrrhotite, pyrite and lesser chalcopyrite. Areas of the Black Lake property have seen varying levels of historic exploration including limited diamond drilling.

Manson Creek may acquire a 100% interest in the Black Lake property, over a three-year option period, through staged cash payments totaling $20,000 and the issuance of 400,000 common shares of the Company. The property vendor will retain a 1.5% NSR (Net Smelter Royalty), of which 1.0% is purchasable at Manson Creek's election for $1,500,000.

Manson Creek is currently compiling historic data to guide its future exploration programs on the property.

This transaction is subject to all regulatory and exchange approvals.

Regan Chernish, P. Geol., President and Director

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and future plans and objectives of Manson Creek Resources Ltd. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

No Canadian Stock Exchange has approved nor disapproved of the information contained herein.

Contact Information

  • Manson Creek Resources Ltd.
    Regan Chernish
    (403) 233-0464
    (403) 266-2606 (FAX)