Monroe Minerals Inc.

Monroe Minerals Inc.

June 11, 2008 12:24 ET

Monroe Minerals Announces 2008 Exploration Plans for Newfoundland and Labrador Uranium Projects

CALGARY, ALBERTA--(Marketwire - June 11, 2008) - Monroe Minerals Inc. (TSX VENTURE:MMX) ('Monroe') today announced its 2008 exploration plans for the Alexis River, Boxey Point and Berry Hill uranium projects, located in Newfoundland and Labrador. Monroe will operate Alexis River and Altius Resources Inc. (TSX:ALS) ('Altius') will operate Boxey Point and Berry Hill. Monroe has the option to earn a majority interest in each of these projects from Altius. The budget for the first phase of the 2008 program on these projects is $600,000, which will be expanded dependent upon initial results and the availability of equipment. None of the projects are affected by the proposed three-year moratorium on uranium mining and milling on Inuit Labrador land.

Monroe's uranium exploration expenditures in Canada during 2008 are forecast at $1.6 million and the plans announced today are in addition to Monroe's current review of property acquisitions and strategic alliances with uranium partners in Canada and Africa.

The Alexis River program commences in late June 2008 and will comprise:

- Detailed prospecting and geologic mapping across the entire Alexis River property to determine the relationship between high uranium contents in lake sediment of Anomaly Lake and underlying country rocks.

- Geochemical soil or till surveys carried out in selected parts of the radiometrically anomalous highlands or in lowland areas believed to have potential.

- Review of Anomaly Lake sediment sample analysis data to determine if additional sampling programs are required both at Anomaly Lake and on other lakes on the property.

The program at Alexis River will be expanded during 2008 dependent upon initial results, with the intention of commencing drilling on the property if conditions permit during fall 2008 or winter 2009.

The Boxey Point and Berry Hill programs commenced in May and comprise:

- Mapping, prospecting and rock sampling, as well as till and/or soil sampling as overburden conditions permit.

- Mapping the coastline exposures at Boxey Point, sampling along the prospect exposed at the sea cliff.

- The exploration team is also determining potential drill sites at Boxey Point in preparation for a planned 1,500 metre program later in the year.

Reg A. Olson, Ph.D., P. Geol. is the designated Qualified Person for Monroe on the Alexis River, Boxey Point and Berry Hill projects.

Monroe is engaged in the assembly of an international portfolio of uranium projects. Its strategy is well defined: enhancing shareholder value by combining technical expertise, corporate development skills and professional management. Monroe's shares trade on the TSX Venture Exchange under the symbol MMX. For more information please visit

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Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. 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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.

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