Thelon Capital Ltd.

Thelon Capital Ltd.

April 02, 2007 18:51 ET

Thelon to Acquire Utah Uranium Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 2, 2007) - Thelon Ventures Ltd. (TSX VENTURE:THV)(FRANKFURT:TFH) is pleased to announce that it has signed a LOI with American Nuclear Fuels 11 LLC of Utah to purchase a 100% interest in the Woodruff Springs Uranium Project. Thelon will pay $50,000 USD and issue 1,000,000 shares over 3 yrs.

The project consists of three Utah State Mining Leases of one square mile each, and 12 unpatented lode mining claims.

Metalliferous Lease 50400 (Section 36 T32S, R11E, 640.00 acres, Garfield County, Utah) is a 640 acre (one square mile) tract surrounded on the northeast, east and southeast by the 69 claims of the Congress Project, and contiguous on the southeast with a Metalliferous Lease, all owned by Energy Metals Corp.

The other two state leases are located on the south side of the Woodruff Springs drainage, together with the unpatented lode mining claims.

A report on Uranium Deposits of Garfield County, Utah, written in 1967 by Helmut H. Doelling and published by the Utah Geological Survey supports and verifies that the majority of the production of uranium in Garfield County came from uranium ore occurrences in the Salt Wash Unit, which trends south to north from Shootaring through Trachyte and Crescent Creek on the eastern side of the Henry Mountains. This project is in the Trachyte area which includes Section 36. From the report high grade samples were taken from this area, one sample assaying at 13.5% U308. The over all sampled average is aprox 1% U308. These numbers predate NI 43-101 and are meant for historical reference only and cannot be relied upon.


On behalf of the Board of Directors

Jason Walsh, President

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

Contact Information

  • Thelon Ventures Ltd.
    Jason Walsh
    (604) 682-1643
    (604) 682-1666 (FAX)