Waseco Resources Inc.
TSX VENTURE : WRI
FRANKFURT : WSE

June 12, 2007 10:26 ET

Waseco Resources Inc.: Uranium Drilling Program Set

TORONTO, ONTARIO--(Marketwire - June 12, 2007) - Waseco Resources Inc. (TSX VENTURE:WRI)(FRANKFURT:WSE) is pleased to report that OreVal Consulting Services Ltd. has been retained to assist in the planning and field logistics of the 2007 drilling program on its Labrador Trough Uranium project in northwestern Quebec.

Waseco currently holds some 700 claims covering approximately 330,000 hectares (330 square kilometers) in 4 block areas. During 2 years of compilation and geophysical work, 15 zones of uranium enrichment (where a "zone" is defined as having an extension approaching or exceeding a kilometer in measurement) and 157 discrete uranium anomalies (where a "discrete anomaly" is defined as a circular or elliptical shaped anomaly of limited diameter (less than 700m) with other uranium related features) have been identified on Block I/II and Block III. (see Releases dated Feb. 2nd /07 and Mar. 5th /07).

A field crew is being assembled to ground truth and prioritize the delineated targets for a drill program on both Blocks. The field crew should be on the ground this month. Drilling should begin within weeks thereafter. This initial phase of the drilling program is expected to total approximately 1,500 meters. A follow-up program is contemplated. The Company is also looking forward to meeting with representatives of local First Nations to explore areas of possible employment and co-operation.

OreVal Consulting Services Ltd. has been contracted to oversee and implement the exploration program on behalf of UraMin Inc. Thomas K. (Tom) Sills, the principal of OreVal, has been a consultant for more than 25 years and has uranium exploration experience in various parts of the world including British Columbia, the North West Territories, Saskatchewan and North Africa. Mr. Sills said that "the results generated so far suggest that this camp could become an important source of uranium and it is very exciting to be involved in the joint venture's initial drilling campaign."

These programs are being funded by UraMin Inc. (TSX:UMN), which has the right to earn a 50% interest in the uranium related prospects by funding $1.6 million in exploration and paying $300,000 in aggregate over 2 years, of which $150,000 has been paid and approximately $750,000 expended to date.

Waseco Resources is an exploration company focusing on uranium exploration in the Quebec Labrador Trough. The Company is listed for trading on the TSX Venture Exchange and on the Frankfurt Stock Exchange. There are currently approximately 29.4 Million shares issued and outstanding.

Contact Information