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October 27, 2008 Uranium North Resources Completes Amer Lake Drill Program
Vancouver, October 27, 2008 --Uranium North Resources Corp (UNR -- TSX-V) reports the company has successfully completed the 2008 exploration drilling program on its 100% owned Amer Lake property in Nunavut. The exploration program, comprised of 15 reverse circulation drill holes, resulted in the discovery of several new zones with anomalous radioactivity. More than 500 samples have been submitted for detailed analysis and the assay results are pending.
"We are enthused by the initial results of our exploration program which indicate potential to expand the historical uranium resource." says Mark Kolebaba, President of Uranium North Resources. "Even in today's climate of global financial uncertainty, the long-term fundamentals for uranium remain strong. According to recent reports by the Organization for Economic Cooperation and Development and the World Nuclear Association, nuclear reactors will produce more than 20% of global electricity in the future and in every decade since 1960, nuclear power has been the world's fastest-growing major source of energy."
Uranium North Resources is well financed with approximately C$2.8 million in the treasury. The company is exploring three properties with significant uranium mineralization in Nunavut as well as the Carswell property in Saskatchewan. The company considers Nunavut and Saskatchewan to be the most geologically prospective and politically supportive uranium mining and exploration districts in Canada.
Allan Armitage, Ph.D., P.Geol., Vice President - Exploration of Uranium North, is a Qualified Person as defined by National Instrument 43-101, and is responsible for program design and quality control of exploration undertaken by the Company and has reviewed and approved the technical information in this release.
On behalf of Uranium North Resources
Mark Kolebaba, President and CEO
Uranium North Resource Corp
Corporate Communication- Heather Kays
Fax: 604- 484-7143
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 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 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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