Uranium North Resources Corp.
TSX VENTURE : UNR

Uranium North Resources Corp.

August 22, 2012 11:00 ET

Uranium North Receives Graphite Results for the Amer Lake Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 22, 2012) - Uranium North Resource Corp. ("Uranium North" or the "Company") (TSX VENTURE:UNR) announces that it has received results of a Mineral Liberation Analysis (MLA) of graphite flake size for four samples from its 100% owned Amer property in Nunavut.

Results for the samples indicate graphite occurs predominantly as very fine flake and bleb-like patches finer than 30 micrometres in size within clay-rick shaley material. The average flake or particle size is 5-15 microns, with a width of 0.3 to 0.5 microns. The graphite bearing beds extend for kilometres and to date only four samples recovered by reverse circulation drilling have been analyzed.

The limited amount of sample material tested is not considered amenable to standard recovery and would likely not produce a concentrate of high purity. However, these samples represent a very minor portion of the prospective stratigraphy across the 220 square kilometre basin. More exploration is warranted to identify higher quality zones of graphite on the property.

"The next step for the company is to determine what commercial applications exist for this form of graphite and to identify any companies that might be interested in a deposit with significant size and open pit mining potential," says Mark Kolebaba, President of Uranium North Resources.

Multiple graphite bearing beds ranging from 15 to 25 metres thick have yielded up to 4.13% graphite (see news release dated May 16, 2012). These beds have been intersected by two reverse circulation drill holes 3.1 kilometres apart as well as a core hole drilled 15 kilometres to the east. The same graphitic units have been identified in three surface outcrop exposures spanning an area of 22 x 10 kilometres.

The graphitic rocks are flat lying and occur in a basin scale stratigraphic unit that is a minimum of 60 metres thick and is expected to extend over a 26 x 8 kilometre area based on geological mapping and drilling.

The Amer Lake graphite was recognized during the company's uranium exploration program and was investigated as a reducing environment favorable for uranium precipitation. This new graphite discovery increases the attractiveness of Amer property where we have an existing uranium resource with potential to expand.

The project is 70 kilometres from an all season road that is 120 kilometres to sea access.

The samples analyzed by Act Labs in Ontario, Canada. The samples were received as minus 2 mm assay reject samples and riffle split to 200 gram sub samples for MLA sample preparation. Screened at 425 microns (42 Mesh) and the oversize hand crushed to passing 425 micron to generate 100% passing -42 mesh sample. A manual SEM investigation was performed by BSE (Back Scattered Electrons) photomicrographs and verified by Energy Dispersive X-ray Spectrometry.

Bruce Kienlen, P.Geol, and Graham Gill, P.Geo, are Qualified Persons as defined by National Instrument 43-101 reviewing the data in this news release.

On behalf of Uranium North Resources

Mark Kolebaba President and CEO

Forward-Looking Information

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, activities and events or developments that Uranium North Resources Corp (the "Company") expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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