Waseco Resources Inc.

August 14, 2007 01:00 ET

Waseco Resources Inc.: Uranium Team in the Field

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2007) - Waseco Resources Inc. ("WRI") (TSX VENTURE:WRI)(FRANKFURT:WSE) is pleased to announce that the field team, under the direction of Thomas Sills, of OreVal Consulting Services Ltd., is on location on the Block I/II uranium prospect, approximately 200 kilometers north-west of Schefferville, Quebec.

Field work, designed to identify and prioritize drill targets began on August 4th, 2007. The team is equipped with scintillometers and a spectrometer to assist in following up on various targets identified from the airborne geophysical surveys. The program involves prospecting, mapping and sampling over the next 2 weeks. Once information has been assessed, the previously announced initial 1,000- 1,500 meter diamond drilling program will commence.

Company President, Richard Williams, remarked "The airborne geophysical surveys have identified significant surficial uranium mineralization on these blocks, so we know that there are a number of areas which warrant investigation.. If the field work further confirms the presence of uranium, we will have to see if there is any continuity at depth by drilling. This field program, while both important and exciting, is not designed to be comprehensive. We have a very large land position and only a modest portion will be examined in the coming months. The uranium assessment process is expected to continue for quite some time beyond this period, as well as the assessment of potential for other metals"

Waseco is a junior exploration company primarily exploring for uranium and other minerals in the Quebec Labrador Trough. It has an agreement with UraMin Inc., now a subsidiary of Areva, which entitles UraMin to acquire a 50% interest in the uranium and related minerals found on the property by funding $800,000 in exploration during the current year. UraMin also has the right to increase its interest to 70% by funding the program to feasibility.

Waseco is listed on the TSX Venture Exchange and the Frankfurt Stock Exchange. There are currently approximately 29.5 million shares issued and outstanding.

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