Nyah Resources Corp.
TSX VENTURE : NRU

Nyah Resources Corp.

May 05, 2008 17:00 ET

Nyah Resources Announces Property Acquisitions in the Blind River-Elliot Lake Uranium District, Ontario

TORONTO, ONTARIO--(Marketwire - May 5, 2008) - Nyah Resources Corp. (TSX VENTURE:NRU) ("Nyah" or the "Company"), www.nyahresources.com, is pleased to announce the acquisition of two sets of property claim blocks (Agnew Lake South and Quirke North) in the highly prospective Elliot Lake-Blind River uranium district.

Agnew Lake South

The Agnew Lake South property consists of 4 claims totaling 656 ha. in Hyman Township south of the Agnew Lake Mine site. The property occurs along the south limb of the Agnew Lake Syncline where the geology is similar to that of the Nyah's Agnew Lake Mine site. The property lies along strike of several historical showings, the nearest occurring within 300 m of the property boundary in basal Huronian conglomerates. It is interpreted that this quartz pebble conglomerate unit which hosts mineralization extends through the property. At least one uranium showing has been identified within the property boundary.

The company plans to complete IP, magnetic, VLF-EM and radiometric ground surveys in May and June on the newly acquired Agnew Lake South property and the Agnew Lake Mine site property. Previous exploration on the Agnew Lake South property was focused without the aid of radiometrics. Ground follow-up of the geophysical exploration program involving prospecting and reconnaissance geological mapping is scheduled to be completed during June-July.

Quirke North

The Quirke North property consists of 6 claims totaling 1504 ha. in Bouck and Buckles Townships immediately north of the Quirke Lake Mine. Nyah plans to initiate a prospecting and mapping program with the aid of RS-125 spectrometers in May to identify uranium targets.

The Quirke Lake Mine produced approximately 44 million lbs of uranium from 3 main zones with typical grades of 0.11% U3O8 (2.12 lbs U3O8 /ton). The Elliot Lake-Blind River district has produced a combined total of over 313 million lbs of U3O8 from 1955 to the present.

Correction from January 4, 2008 Press Release:

The Company wishes to correct the number of options announced in its January 4, 2008 press release. In total, officer and directors were granted 353,750 options, not 375,000 as announced. The remaining terms of this grant are as previously disclosed.

About Nyah

Nyah is a Canadian mineral exploration company listed on the TSX Venture exchange under the symbol (TSX VENTURE:NRU).

Nyah holds a 100% interest in the Agnew Lake Uranium Property (the "Property"), consisting of seven unpatented mining claims (1,575 ha equals 3,892 acres) located approximately 40 kilometers west of Sudbury, Ontario. The Property encompasses the past producing Agnew Lake Uranium Mine. The Agnew Lake Uranium Mine was operated by Kerr Addison Mines Ltd between 1977 and early 1983 and produced approximately 1.9 million lbs of uranium from a combination of surface and in-situ leach during this time period. The Property has substantial underground infrastructure in place including a six compartment shaft to a depth of over 980 metres with development on several levels. A decline from surface to the 1,900 foot level was also developed. During the period of operation 5 mineralized zones were identified of which only zones 3 and 5 were developed. In addition to the past producing uranium mine, the Property covers approximately six kilometers of favourable geology possibly containing uranium-mineralized horizons. The information available suggests that currently the Agnew Lake property, including the area which was mined in the past, is under-explored.

REGULATORY FOOTNOTES

Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Nyah assumes no obligations to update the forward-looking statements unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in filings by Nyah with the Canadian securities regulators, which filings are available at www.sedar.com.

For further information regarding Nyah, please visit the Company's website at www.nyahresources.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information