Triex Minerals Corporation
TSX VENTURE : TXM

Triex Minerals Corporation

November 29, 2006 09:30 ET

Triex Minerals Corporation: Exploration Continues for Basement-Hosted Uranium East of the Athabasca Basin

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 29, 2006) - Triex Minerals Corporation (TSX VENTURE:TXM) ("Triex") continues to advance its portfolio of exploration projects in the world's premier district for high grade uranium deposits, the Athabasca Basin in northern Saskatchewan, and is pleased to announce that a ground-based geophysical program is now underway on its adjoining Wollaston NE and Cochrane River properties.

The properties are located approximately 80 kilometres northeast of Cameco Corporation's Eagle Point Mine at the northeastern edge of the Athabasca Basin. Location maps can be found at www.triexminerals.com.

Ground-based resistivity surveys are being done on three separate grids. The work is expected to take approximately four weeks to complete. Camp mobilization began on November 17th. This work follows up on key targets identified from helicopter-borne DIGHEM V geophysical surveys (EM and magnetic) flown in January (see Press Release dated January 19, 2006), and an extensive lake sediment geochemical program completed in September for which final results for some 1,289 samples are still pending (see Press Release dated August 30, 2006). Integration of new data into the Company's existing comprehensive GIS project database is ongoing. Interpretation and modeling is focused on the potential for structurally controlled, basement-hosted uranium.

New resistivity data from this program will contribute to refining integrated geological-geochemical-geophysical targets for a first-pass diamond drill program anticipated for the summer of 2007.

The Wollaston NE Property comprises six Prospecting Permits (184,475 hectares) under a joint venture between Triex (51%) and Roughrider Uranium Corp. (49%). Roughrider was recently acquired by Hathor Exploration Limited (see Hathor news release dated August 10, 2006). The Cochrane River Property comprises two permits which adjoin the southern boundary of the Wollaston NE Property and comprise a total of 67,480 hectares. Triex has the option to earn up to a 70% interest in the Cochrane River property from Uranerz Energy Corporation (see November 9, 2005 news release for a summary of the agreement). Triex is the operator on both properties.

Ross McElroy, P.Geo., Exploration Manager at Triex, is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of exploration undertaken by Triex in the Athabasca Basin. This release has been reviewed by Dr. Michael Gunning, Ph.D., P.Geo., President of Triex and a Qualified Person as defined by National Instrument 43-101.

Triex is a Canadian junior mineral exploration company currently focused on uranium opportunities in three separate districts in North America. Eight main projects span grass roots reconnaissance exploration to advanced-stage resource delineation. For further information, visit the Company's website at www.triexminerals.com.

TRIEX MINERALS CORPORATION

Michael Gunning, President

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Contact Information

  • Triex Minerals Corporation
    Michael Gunning
    President
    (604) 687-6680
    (604) 687-1448 (FAX)
    Website: www.triexminerals.com