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April 15, 2008 Uranium North Targets 24 Metre Thick Uranium Mineralized Zone at Hawk Lake
Vancouver, April 15, 2008 - Uranium North Resources Corp. (UNR - TSX-V) announces that upper and lower zones of uranium mineralization have been identified on the Hawk Lake prospect located on the 100% owned South Baker property in Nunavut. Based on three dimensional modeling of historic drill holes, both zones appear as sheets that dip approximately 30o to 40o to the southeast. The longest historic drill intercept into the lower zone occurred at approximately 44 metres depth, yielding 0.20% U3O8 over 24 metres. The lower zone is open along strike and to depth.
Supporting airborne geophysical data acquired in 2007 by Uranium North show magnetic and radiometric anomalies that are coincident with the Hawk prospect. In addition, limited enzyme leach soil geochemistry over the Hawk prospect highlights distinct uranium anomalies that are open in three directions.
"This is a shallow target with significant mineralization open along strike and down dip. I believe Hawk Lake has the potential to deliver a considerable size uranium deposit", says Mark Kolebaba, President of Uranium North.
Attached below is a revised table of drill-hole assays for the significant drill intercepts into the Hawk prospect.
An initial six to ten drill holes have been planned to verify the historical drill data and begin to test the extent of the uranium mineralization at Hawk Lake. Five other nearby airborne radiometric anomalies have been identified and will be targeted as similar mineralized zones.
Technical Information on the Hawk Uranium Prospect
Historic drill-hole data was used to form a three dimensional model, using drill hole modeling software. The modeling depicts a significant concentration of uranium at Hawk Lake that is open in three directions, providing opportunities for expansion. Exploration drilling at Hawk Lake was originally conducted by Noranda in 1978 to 1982. Thirty seven drill holes were used in the review. Eighteen of the holes were "winkie" size drill holes (130.52 metres) and 19 holes were BQ size (1653.23 metres). Fourteen of the holes did not penetrate deeper than 15 metres, 6 of which terminated in overburden. Numerous significant uranium mineralized intersections were encountered. The table below highlights the significant drill-hole data.
True thicknesses not known
This area coincides with more than 120 radioactive boulders with assays of 4.10% to 0.05% U3O8 on surface over a 40 by 220-metre area. Drill hole H-10-79 also averaged 0.18% MoS2 (molybdenite) over a 10 metre drill intercept.
Fixed-wing geophysical data acquired by Uranium North in 2007 by Terraquest Ltd. at a line spacing of 100 metres shows a N/NW-trending linear negative magnetic anomaly that is coincident with the Hawk zone, which may infer a bedrock alteration zone. The mineralized zone is also coincident with a fixed-wing 7ppm equivalent uranium anomaly, within a 1.3ppm background. In addition, enzyme leach soil geochemistry acquired over the Hawk zone at 100m x 50m sample spacing, analyzed at Activation Laboratories Ltd., forms a coincident uranium anomaly up to 31 ppb, within a background of <5ppb, open in 3 directions.
Hawk is one of 12 known prospects identified on the South Baker Property. The Company's exploration concept for South Baker is based on developing tonnage from several closely spaced deposits as at Kiggavik. The Kiggavik deposits have been reported by Areva to comprise 148 million pounds from six different deposits. (Uranium North has not verified whether Kiggavik is a NI 43-101 defined resource.)
All of the above historical data were reported prior to NI 43-101. The historical Noranda drill core is unavailable and specific hole locations are not known with absolute certainty therefore cannot be relied upon. Uranium North has not independently verified the historical data therefore under current 43-101 guidelines the results should not be relied upon. It is the opinion of Uranium North's qualified person that the Noranda work is of high professional caliber and Uranium North further believes that these results provide an indication of the potential of the property and are a compelling basis for ongoing exploration.
W.E. Brereton (P.Eng.) of MPH Consulting Limited is Uranium North's qualified person with respect to this project and has reviewed and approved the technical information in this release.
On behalf of Uranium North Resources
Mark Kolebaba President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
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, exploitation 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, exploitation and 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
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