International KRL Resources Corp.
TSX VENTURE : IRK

International KRL Resources Corp.

March 23, 2007 13:46 ET

Permits Obtained for Drill Program on International KRL Resources' Carswell Uranium Project; Company Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2007) - International KRL Resources Corp. (TSX VENTURE:IRK) today announced that it has been advised by ESO Uranium (TSX VENTURE:ESO) that the permits have been granted for the reverse circulation and/or percussion drill program which will cover International KRL's Carswell project in the Cluff Lake area of the Athabasca Basin, Saskatchewan. The claim has been optioned by ESO Uranium. ESO Uranium intends to commence a drill program shortly, of approximately 10,000 meters in 100 holes over an extensive land package, which includes a priority target area on International KRL's claim. International KRL's claim, which covers 5,993 acres (2,425.5 hectares), flanks the east side of the Cluff Mine lease and includes a radioactive boulder field with values up to 16.9% uranium oxide and 2.9 g/t gold, as reported in the assessment filings of AMOK. The boulder field is close to several conductors indicated by airborne and ground electromagnetic surveys carried out by ESO Uranium in 2006.

In addition, International KRL Resources announced the grant of 600,000 stock options to certain directors, officers, employees and consultants under its incentive stock option plan. The options are exercisable at a price of $0.38 per share for a period of two years, and are subject to a four-month hold period.

Michael Hibbitts, P.Geo, Vice President Exploration is the Qualified Person for this property.

International KRL Resources Corp. is a mineral exploration company engaged in the acquisition, exploration and advancement of Canadian mineral properties. For more information on the properties and International KRL Resources Corp. please visit www.krl.net, www.sedar.com and www.sec.gov websites. The Company is exhibiting at the Cambridge House Calgary Resource Investment Conference March 31 - April 1. Please visit us at Booth 417.

ON BEHALF OF THE BOARD

Seamus Young, President and CEO

Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward looking statements. Although we believe that the expectations in our forward looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The Securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available.

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • International KRL Resources Corp.
    Seamus Young
    President and CEO
    (604) 689-0299 x 223
    or
    International KRL Resources Corp.
    Michael Hibbitts
    Vice President, Exploration
    (604) 689-0299 x 228
    (604) 689-0288 (FAX)
    Website: www.krl.net