Santoy Resources Ltd.
TSX VENTURE : SAN

Santoy Resources Ltd.

January 09, 2007 12:08 ET

Santoy Announces Otish Mountain Uranium Joint Venture

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 9, 2007) - Santoy Resources Ltd. (TSX VENTURE:SAN) and Melkior Resources Inc. (TSX VENTURE:MKR) (The Companies) are pleased to announce that they have agreed to enter into a joint venture to explore for Uranium and other metals in the Otish Mountains of Quebec. Melkior has retained the right to explore for diamonds for its own account on the joint venture lands.

Melkior is contributing 214 claims totaling 11,329 hectares that the company either currently holds or has under application. An additional 406 claims totaling approximately 21,105 hectares have been applied for on behalf of the joint venture- for a total area of 32,434 hectares. The map staking costs of these additional claims will be funded by Santoy. Further property acquisitions and future exploration expenditures in the Otish Mountain district will be funded equally by the Companies.

Jens Hansen, CEO, states, "Melkior is pleased to be able to participate with Santoy, a company with recognized uranium exploration expertise which is currently active in the Athabasca Basin in Saskatchewan, the Central Mineral Belt of Labrador and British Columbia." Ron Netolitzky, CEO of Santoy, says that the Company is pleased to be able to add exposure to the Otish Mountain uranium play to its expanding portfolio of energy prospects, especially with a partner experienced in operating in Quebec.

The Otish area of northern Quebec has recently become the focus of very active uranium exploration. Cameco Corporation has a large land position in the area and Strateco Resources Inc. has been reporting significant uranium values from their Matoush discovery. The uranium potential of the Otish Sedimentary Basin has been favorably compared to that of the Athabasca Basin.

This news release has been prepared by the Companies jointly and is issued under the technical qualifications of Jens Hansen P.Eng., President of Melkior and a Qualified Person under National Instrument 43-101.

About Santoy Resources Ltd.

Santoy Resources Ltd. is a Canadian mining exploration company focused primarily on the energy sector. Emphasis is being placed on uranium projects in British Columbia, Saskatchewan, Manitoba, and the Central Mineral Belt of Labrador; and on coal and coal bed methane in Western Canada. A description of our properties, including maps and photographs, can be viewed on the Company's website at www.santoy.ca.

On Behalf of the Board of Directors

SANTOY RESOURCES LTD.

Ron Netolitzky, President

Cautionary Statement on Forward-Looking Information

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

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

Contact Information

  • Santoy Resources Ltd.
    Ron Netolitzky
    (604) 669-4799
    or
    Santoy Resources Ltd.
    Tony Perri
    Investor Relations, Manager
    (604) 669-4799
    (604) 669-2543 (FAX)
    Website: www.santoy.ca