Uranium Bay Resources Inc.
TSX VENTURE : UBR

Uranium Bay Resources Inc.

June 09, 2008 12:44 ET

Uranium Bay Identifies on the Uskawanis Uranium Property More Than 40 Uranium Anomalies That are Worthy of Significant Ground Follow-Up Along a 13km Long Discontinuous Northern Chain of ...

... "Hot-Spots" That are Along or Close to a Major Ene-Trending Shear

MONTREAL, QUEBEC--(Marketwire - June 09, 2008) - Uranium Bay Resources Inc. (TSX VENTURE:UBR) is pleased to inform its shareholders that Geoff Campbell, GAP Geophysics director, has completed the Uskawanis geophysical report identifying uranium anomalies derived from the airborne helicopter radiometric data gathered during the summer 2007 helicopter airborne survey.

The interpretation map is attached to this press release and will be available on the UBR website at www.uraniumbay.com.

The highlights of the report are that:

- More than 40 discrete uranium anomalies have been identified;

- Several of these anomalies have significant length and area;

- Two semi-regional "halo" zones(1) of enhanced uranium activity have been mapped over the central sector, within which there are numerous "hot-spot" zones".

- Sizes of these hot-spot zones are from "300 m to 2 000 m longest (continuous) dimensions".

- "Hot-spot" zones are defined as being greater than 2.5 background values and exhibit peak values of up to greater than 6 times background;

- There is a 13km long, discontinuous northern chain of "hot-spots" that are along or close to a major ENE-trending shear; and that

- The discrete radiometric anomalies outlined on the interpretation map are worthy of significant ground-follow-up interest.

Geoff Campbell comments that: "In this far north environment, radiometric results are best viewed as a high spatial resolution airborne geochemical sampling data set, where areas of prospecting interest are delineated on the basis of relative anomaly versus background responses, the latter multiple being of prime interest rather than absolute values. Bedrock mineralization grades are invariably higher (by an order of magnitude or more) than airborne radiometric anomaly values" so absolute values are relatively meaningless. "This follows from the observation that radiometric anomalies over uranium mineralized bedrock are heavily attenuated by water-saturated overburden and wholly attenuated over lakes of even modest depth. Transported overburden material generates a total blanking effect".

Mr. Bernard Tourillon, UBR's President and CEO, comments:

The geophysical report has given UBR a very important boost. Firstly, it clearly demonstrates the widespread nature of the uranium mineralization at Uskawanis (as expected from the Rossing model for uranium genesis). Secondly it confirms the presence of a substantial number of good size uranium targets (again expected with the Rossing model). This supports our belief in the potential for significant mineralization at the Uskawanis Uranium Property (UUP).

Background to the UUP

At the UUP, UBR is prospecting for uranium in potentially high tonnage, low grade, high uranium poundage deposits hosted in pegmatites. These deposits are mined as open-pit quarry operations. Uranium grades will typically be from 100 ppm to a maximum of 400 ppm (0.2 - 0.8 lbs/ t). More details are available on the UBR website.

Note

Mr. Vivian Stuart-Williams, (SACNASP), a Director of the Company and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

About Uranium Bay Resources Inc.

Uranium Bay Resources Inc. is a Canadian based junior resource and exploration company trading under the symbol UBR on the TSX Venture Exchange. The Company has 77,266,913 shares outstanding. The Company holds 100% of several U3O8 mineral exploration properties including the 314 km2 Uskawanis Uranium property located just south of the Opinaca reservoir, the 90 km2 Kauschiskach Uranium property located just 100 km NE of Radisson in the Quebec James Bay area of northern Quebec, and the five properties totalling 197 claims covering the Lac Georges (100 claims), Lac Forget (24 claims), Ruisseau Lebrun (38 claims), Maurice (19 claims) and Bloc extension 06 (16 claims) properties located in the Wakeham area, in eastern Quebec. In addition the Company holds two Namibian concessions known as Gunib and Grootfontein.

The TSX Venture Exchange (TSX-V) does not accept responsibility for the adequacy or accuracy of this release. This news release contains forward-looking statements reflecting Uranium Bay objectives, estimates, expectations and the impact of acquisitions on Uranium Bay's financial performance. These statements are identified by the use of verbs such as "believe", "anticipate", "estimate", and "expect" as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Uranium Bay's projections or expectations.

(1) These two areas are shown on the attached map as the two large areas in the map central region with thin red vertical lines.

A map is available at the following address: http://media3.marketwire.com/docs/mapp.pdf

Contact Information

  • Bernard J. Tourillon, President and CEO
    514-846-3271 or Toll-free 1-888-666-3431
    or
    Guy Girard, VP and CFO
    514-846-3271 or Toll-free 1-888-666-3431