Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

June 19, 2008 10:58 ET

Takara Resources Inc.: Encouraging Results From Airborne Magnetic and Radiometric Surveys, Basket Lake Uranium Project, Northwest Ontario

TORONTO, ONTARIO--(Marketwire - June 19, 2008) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Takara Resources Inc. (TSX VENTURE:TKK) ("Takara") announced today that 3,000 line kilometre, high-resolution aeromagnetic and radiometric geophysical surveys have been completed at the Basket Lake Uranium Project, located near Dryden in northwestern Ontario. Final results from the high resolution magnetics survey have been delivered and the data is being reviewed; full results from the radiometrics survey are pending.

The fixed-wing, High-Resolution Airborne Magnetic (HRAM) survey was completed over the 216 km2 property. The survey was flown by Firefly Aviation Ltd. of Calgary at 100 m line spacing. Preliminary interpretation has identified a series of cross-cutting, linear structural elements, which span the Property. Data from the survey has assisted in redefining targeting for Takara's upcoming field exploration program.

As follow up, a fixed-wing airborne radiometrics survey was carried out by Goldak Airborne Surveys of Saskatoon, Saskatchewan. The survey covered the entire Property at 100 m line spacing and field data processing is currently underway. In combination with the HRAM data, the radiometrics will provide the detail and constraints for the upcoming geological mapping, prospecting/sampling and ground-truthing program. A further exploration budget has been allocated to complete surface trenching and diamond drilling of potential uranium targets, scheduled for fall 2008.

The deposit model to be tested for the Property is that of pegmatite hosted uranium mineralization, as seen at Richard Lake. There is also potential for structurally focused, high grade uranium mineralization and porphyry-style uranium mineralization, similar in style and potential to the low-grade, large tonnage, uranium deposits such as those being mined at Rossing, in Namibia.

The Property is located approximately 65 km east of Dryden, Ontario - an underexplored area that is prospective for uranium. Takara acquired a 100% interest in the Property because of: 1) numerous, clustering anomalous uranium concentrations published in government lake sediment data; 2) historically documented rare earth element occurrences on the Property and in the area and; 3) the presence of the nearby Richard Lake uranium deposit, currently the target of an exploration drilling program being conducted by Delta Uranium Inc (TSX:DUR). Furthermore, the Property is located close to established infrastructure including major highways, rail, and power lines thereby facilitating low cost exploration in an area with documented uranium potential.

Dr. Scott Jobin-Bevans, P.Geo., Vice President Exploration, is a "Qualified Person" as defined in National Instrument 43-101 and has reviewed the technical information presented in this News Release.

The securities of Takara Resources Inc. have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any U.S. State, and may not be offered or sold in the United States or to any "US Person" (as defined in Regulation S under the Securities Act of 1933) absent registration or an exemption from registration.

Certain information contained in this press release, including information and statements which may contain words such as "could", "plans", "should", "anticipates", "expect", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward-looking information. All of the forward-looking information contained in this press release is qualified by this cautionary statement. There can be no assurance that the actual results or developments anticipated by Takara, as expressed or implied by the forward-looking information, will be realized or, even if substantially realized, that they will have the expected consequences to or effects on Takara or its business operations. Takara disclaims any intention or obligation to update or revise any forward-looking information as a result of new information or future events. Readers should not place undue reliance on forward-looking information.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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

Contact Information

  • Takara Resources Inc.
    Jennifer L. Boyle
    President
    (647) 430-0966 (work)
    or
    Takara Resources Inc.
    Pamela Strand
    Chairperson of the board
    (780) 435-0045 (work)