Signet Minerals Inc.

Signet Minerals Inc.

October 31, 2005 08:30 ET

Signet Minerals Inc.: Curie Uranium Project- Staking Completed

COMOX, BRITISH COLUMBIA--(CCNMatthews - Oct. 31, 2005) - Signet Minerals Inc. (TSX VENTURE:SGN) reports that it has recently completed the staking of 19,292 hectares (47,675 acres) of very prospective terrain at the Curie uranium project in the Yukon. In doing so, the Company has consolidated all of the known showings in the area in the Curie project. This is believed to be the first time that one company has controlled this large block of ground.

The Curie project now includes a minimum of 11 uranium showings. The showings occur in an area with elevated to anomalous values of uranium (and locally gold) in stream sediments (GSC Open File 338), and are documented in Yukon Minfiles 106E-003, 006, 011, 022, 026, 027, 028, 029, 030 and 031.

Highlights for the showings just staked include:

Description Drilling Minfile #
Uranium mineralization in
quartz-feldspar dike swarms in a 900m
long hematitic shear zone in sediments.
Nearby breccia. Grab samples from hand
pitting of the zone assayed from 0.095%
to 0.48% U3O8. A float sample assayed
0.73% U3O8. 2 holes-101m 106E-029

5 separate uranium mineralization
occurrences near to breccia bodies.
Largest zone is 150m X 10m of bleached,
silicified argillite. Grab samples to
1.12% U3O8. None 106E-003

Radioactive vein and disseminated
controlled chalcopyrite and uranium
mineralization in sediments and breccia
along 600m. Assays include 5.40% copper
over 1.7m; 0.64% copper over 3.0m; and
grab samples up to 215 ppm uranium. None 106E-027

Disseminated uranium mineralization and
chalcopyrite in a 15m X 90m area of
hematitic, bleached, chloritized and
feldspathized sediment. Nearby breccia. None 106E-026

Geological Survey of Canada report of
uranium mineralization associated with
a diatreme breccia in sediments. None 106E 030

The Curie project offers the possibility of a significant uranium discovery. This large area contains a significant number of uranium showings and is anomalous with respect to uranium in stream sediments. The structurally controlled uranium mineralization and alteration may represent a high level expression of more substantial uranium mineralization at depth.

The last exploration for uranium in the area was in the late 1970's. Signet believes the application of modern uranium exploration techniques will rapidly advance the project. The Company is compiling historic data from assessment work and is also planning airborne surveys to be flown this winter. It is anticipated that this work will be followed by ground surveys and the early identification of drill targets.

This press release has been reviewed and approved by Dr. Kieran Downes, P.Geo, President of Signet Minerals Inc. and a Qualified Person as defined by National Instrument 43-101, under whose direction the exploration program is being carried out.

Statements in this press release may contain forward-looking statements. Except for statements of historical fact, all statements in this press release - including, without limitation, statements regarding future plans and objectives of the Company - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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

Contact Information

  • Signet Minerals Inc.
    Kieran Downes
    (250) 729-0453
    Signet Minerals Inc.
    Brian Cebryk
    (250) 890-0607