Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.

January 31, 2008 09:46 ET

Takara Resources Inc.: Phase II Program Kaibab Update, Arizona

Drill Ready Uranium Breccia Pipe Targets

TORONTO, ONTARIO--(Marketwire - Jan. 31, 2008) -

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

Takara Resources Inc. (TKK) ("Takara") (TSX VENTURE:TKK) announces that planned surveys from the first seven advanced-prospect drilling candidates on the Kaibab Joint Venture Project (solution-collapse breccia pipe uranium prospects) have been completed, resulting in sufficient VLF and soil pH data on each prospect to usefully guide subsequent follow-up work.

The ground surveys that were completed in late 2007 were conducted on advanced prospects, all of which have had geochemical, geological, and geophysical work previously carried out on them by DIR Exploration, Inc. (in 1987-1992). Recent VLF and pH surveys on these claims held by the Kaibab Joint Venture appear to show indications that several additional breccia pipe-type target areas exist in close proximity to the drilling targets that had been historically identified. All drilling target areas identified to date on the seven advanced prospects of the Kaibab Joint Venture with recent and historical surface or shallow exploration work will be further tested with deeply-penetrating CSAMT (controlled source audio-frequency magnetotellurics) apparent resistivity surveys prior to drilling.

This current Phase II of the Kaibab Joint Venture program is operated by Takara's locally based (Arizona and Colorado) joint venture partner, DIR Exploration, Inc. The program is designed to refine geological targets for further testing via subsequent rotary downhole hammer and spot coring campaigns. Accordingly, at the end of 2007, an initial Drilling Plan of Operations was submitted to the pertinent regulatory authorities in Arizona, describing a program for 20 drill holes over the seven prospects that have had advanced exploration work completed on them. As ongoing pH and VLF surveys are completed on the most recently identified targets within the seven advanced Kaibab Joint Venture prospects, it is anticipated that the Drilling Plan of Operations will be amended accordingly.

DIR Exploration has been instrumental over the past 15 months in identifying and acquiring a large number of new breccia pipe uranium prospects. Currently, the Kaibab Joint Venture has acquired over 200 separate breccia pipe uranium prospects and the work to date suggests that each have been determined to be both structurally and geochemically anomalous. These prospects are roughly equally divided between the two major breccia pipe exploration districts located north and south of the Grand Canyon, and DIR Exploration shall receive a cash discovery bonus of up to US$100,000 for each ore-grade discovery made by its team.

Northwestern Arizona is considered to be an under-explored region for higher-grade uranium deposits, given that few, if any, breccia pipes were mined prior to the 1970's. Data indicates that it was not until the 1980's that explorationists began to discover the potential in the region.

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)