Rampart Ventures Ltd.
TSX VENTURE : RPT

Rampart Ventures Ltd.

November 07, 2006 08:30 ET

Rampart Ventures Signs Letter Agreement With Duran Ventures Inc. to Acquire 70% Interest in Miller Creek Property, Athabasca Basin North

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 7, 2006) - Dr. Hikmet Akin, President of Rampart Ventures Ltd. (TSX VENTURE:RPT) is pleased to report that the Company has signed a Letter Agreement with Duran Ventures Inc. (NEX BOARD:DRV.H) to earn a 70% interest in its 100%-owned Miller Creek Property totalling 76,000 acres. The property straddles parts of the Platt Creek Shear Zone, a major NNE-trending fault parallel to the Black Lake Fault, the same structure that hosts the Black Lake uranium discovery made by UEX Corporation in the fall of 2004 about 30 km to the northeast.

The Platt Creek Shear Zone has been found to be coincident with graphitic basement conductors that have been traced geophysically for several kilometres. In the Athabasca Basin, these horizons are known to be important factors in the formation of unconformity-type uranium deposits. UEX's Black Lake Project was the site of a new uranium discovery in hole BL-18 in the fall of 2004. Hole BL-18 discovered unconformity-type uranium mineralization in the sandstone, immediately above the unconformity at a vertical depth of 310.5 meters. Analyses from this intersection averaged 0.694% U3O8 over 4.4 meters.

Under the terms of the Letter Agreement with Duran Ventures Inc., Rampart has the right to earn a 70% interest in the Miller Creek Property by making the following cash payments, stock issuances and property expenditures:

- $100,000 cash payment and the issuance of 200,000 shares of Rampart upon approval of this Letter of Agreement by the Vancouver Venture Exchange

- The issuance of 100,000 shares of Rampart prior to November 1, 2007

- The issuance of a further 100,000 shares of Rampart prior to November 1, 2008

- The issuance of a further 100,000 shares of Rampart prior to November 1, 2009 for a cumulative total of 500,000 shares of Rampart

- A commitment to spend $400,000 prior to February 10, 2008, $600,000 prior to February 10, 2009, $600,000 prior to February 10, 2010, $600,000 prior to February 10, 2011 and a final $800,000 prior to February 10, 2012 for a cumulative expenditure of $3,000,000 CDN

- Rampart will be the Operator of the Miller Creek Project.

About Rampart

The Rampart uranium team has a long history of successful exploration for unconformity-style uranium deposits in the Athabasca Basin and elsewhere. Now Rampart has two prospective projects in the Athabasca Basin, the 100%-owned Richards Lake Property and the Miller Creek Property. Together they total approximately 86,920 acres. In northern Ontario, Rampart is actively drilling on its prospective 165,000 acre Sibley Basin Project for unconformity-style uranium deposits. Rampart is well-funded and well managed.

Technical information in this news release has been prepared by Colin Bowdidge, Ph.D., P.Geo., a Qualified Person as defined in NI43-101. Assays quoted were performed by Loring Laboratories Ltd. of Calgary, using fluorimetric methods for samples with less than 5% U3O8 and titrimetric methods over 5% U3O8.

Hikmet Akin, President

Rampart Ventures Ltd.


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

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