Nova Uranium Corporation
TSX VENTURE : NUC

Nova Uranium Corporation

August 20, 2007 06:00 ET

Nova Starts Phase Four Drilling at Mont Laurier

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2007) - Nova Uranium (TSX VENTURE:NUC) is pleased to announce that the company is scheduled to commence drilling at their wholly-owned Mont Laurier, Quebec uranium property on August 20th, 2007.

The drill program will follow up on the summer ground exploration program which included geological mapping, surface trenching, and detailed geophysical surveying of Zone 1 and Bear Lake zones. Additionally, the company will follow up on previously untested uranium anomalies identified during a regional airborne survey.

Drilling will consist of a minimum of 15 shallow diamond drill holes (over 1,000 metres in total) and will focus on three priority zones. The program will aggressively test the on-strike uranium mineralization extension of Zone 1, the historical uranium mineralization of the Bear Lake Zone and the overburden covered area (OB Zone) that links the Tom Dick North and Zone 1 mineralized areas.

Don Moore, President of Nova, states, "Mont Laurier is a large uranium property in a mining-friendly jurisdiction, with excellent logistics and significant uranium mineralization near surface. Nova's target in Mont Laurier is therefore a large bulk tonnage uranium situation that could be mined using open-pit techniques. This is Phase IV of the Nova drill program at Mont Laurier and we are excited to be testing two new zones that our company has not yet drill tested in addition to testing the on-strike extension of Zone 1, a zone that has previously provided good results."

Zone 1

Previous work by Nova in Zone 1 has resulted in wide uranium-enriched intersections of including 42.96 metres of 0.51 lbs / ton U308, 41.81 metres of 0.51 lbs / ton U308, and 40.18 metres of 0.48 lbs / ton U308. Zone 1 is located on the northwest side of the property and is marked by a strong circular airborne anomaly about 400 metres in diameter. The limits of this uranium geophysical anomaly are masked by soil and swamp, particularly to the north and west.

Bear Lake Zone

Located approximately 2.5 kilometres east of Zone 1, the Bear Lake Zone hosts a high priority historical uranium showing which saw abundant historical drill testing from 1968 to 1981. The most recent drill campaign was completed by the Quebec government exploration company SOQUEM and revealed that near surface uranium mineralization (typically from surface to less than 50 metres deep) is found in near flat lying pegmatite sills. Select uranium-enriched intercepts from the SOQEUM campaign include 5.85 metres of 0.95 lbs / ton U308, 25.53 metres of 0.63 lbs / ton U308 and 8.52 metres of 0.69 lbs / ton U308. Nova will drill test the historical results by twinning a number of the historical drill holes.

OB Zone

The OB Zone is a four kilometre long area extending north from the Tom Dick Zones to Zone 1. The area is covered by glacially deposited sediments which mask the regional airborne geophysical radiometric uranium signals. Nova's detailed prospecting and ground geophysical surveys in the area have uncovered numerous zones of elevated radioactivity along this prospective uranium mineralized trend. Nova will drill a few widely spaced holes to test rocks masked by the sandy cover.

About Nova Uranium

Nova Uranium has completed three phases of drilling on the company's wholly owned Mont Laurier uranium property and is currently commencing Phase IV. The target is a large, bulk tonnage uranium situation that could be mined using open-pit mining methods. Results to-date have indicated that there is wide spread uranium mineralization on the Mont Laurier property close to surface.

In addition to Mont Laurier, Nova owns a significant exploration land position adjacent to Strateco Resources in the highly prospective Otish Mountain uranium basin. Nova management will also target the acquisition of additional uranium properties of interest during any periods of market weakness to grow and diversify their basket of uranium holdings and to complement their Mont Laurier and Otish Mountain holdings.

Mr. Michael Moore, PGeo, is the qualified person who has reviewed the technical information contained in this news release on behalf of the Company.

ON BEHALF OF THE BOARD

Donald G. Moore, Chairman, CEO and Director

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. No Stock Exchange Has Approved or Disapproved The Information Contained Herein.

Contact Information

  • Nova Uranium Corporation
    Donald G. Moore
    Chairman, CEO and Director
    (604) 687-7178 or Toll Free: 1-800-398-5645
    Website: www.Novauranium.com