Rampart Ventures Ltd.
TSX VENTURE : RPT

Rampart Ventures Ltd.

July 05, 2005 12:12 ET

Rampart Ventures Ltd.: New High Grade Uranium Occurrence Discovered in Sibley Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 5, 2005) - Rampart Ventures Ltd. (TSX VENTURE:RPT) is pleased to announce that a new occurrence of uranium mineralization has been located by prospecting on its Black Sturgeon property in the Sibley Basin, northeast of Thunder Bay, Ontario. The objective, of the current exploration program, is to discover world-class, high-grade uranium deposits, similar to those found in the Athabasca Basin in Saskatchewan.

The new discovery consists of a loose, angular block of iron formation, cut by narrow pitchblende stringers, which appears to be almost in place. A grab sample was sent to SRC Geoanalytical Laboratories in Saskatoon, and returned an assay of 5.24% U3O8. Where practical, the area around the angular block has been partially exposed by stripping. There appears to be an area of anomalous radioactivity over a width of 3-4 metres, within which there are several "hot spots". The discovery was made by systematic prospecting on a magnetic anomaly located by the recent VTEM airborne geophysical survey.

The new uranium showing is located 400 metres south of the original Black Sturgeon uranium occurrence which assayed up to 11% U3O8 and was discovered by the Ontario Geological Survey in the 1980s. Both occurrences are associated with Archean iron formation.

Mapping of the stripped area around the new showing continues, and further prospecting, specifically targeting magnetic anomalies in the area, is under way.

The Sibley basin is a mid-Proterozoic sedimentary basin that has the potential to host unconformity related uranium deposits of the type found in the Athabasca basin of Saskatchewan, home of the world's richest uranium mines. Geological similarities between the Sibley and Athabasca basins include: high background uranium contents in basement rocks; a well-developed regolith or weathered zone of basement rocks below the unconformity; and the presence of graphitic rocks in the basement, providing a favourable environment for the formation of high-grade uranium deposits.

Rampart is the largest landholder in the Sibley basin, holding nine separate claim groups totalling approximately 131,200 acres, of which 109,040 acres are subject to an agreement with New Shoshoni Ventures Ltd. (see news in Stockwatch Sept. 30, 2004).

The company is also conducting a 3,000 metre diamond drilling program on the Black Sturgeon property, which is currently testing a number of conductors defined by the VTEM airborne survey.

Technical information in this news release has been reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101. For more information on the Company's Sibley Basin Project and the other prospective uranium projects held by Rampart the reader can access its website www.rampartventures.com.

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

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