BRD Broadway Gold Mining Ltd

Bluerock Resources Ltd. ("Bluerock" or the "Company") (TSX VENTURE:BRD) is
providing an update on uranium development and production by its US subsidiary,
Bluerock Energy Corp. in both the Uravan and Lisbon Valley districts.


The past month has seen Bluerock Energy Corp.:

- Continue to advance production at the J-Bird Uranium Mine

- Progress mine development at the Cone Mountain Uranium Mine site

- Submit permit applications to process the Patty Ann surface stockpile

- Submit bulk sample and exploration drill permits at the Sunbeam Mine

As work focuses in on US operations, Bluerock Resources Ltd. has also:

- Initiated the sale of its Mongolian assets

- Vended noncore base metals projects in British Columbia

Operation Update

At the J-Bird Uranium Mine, Bluerock continues to ship uranium ore(i) to the
White Mesa Mill. The Company is expecting ore production to increase once the
development of the "#2 mineralized zone" commences in August 2008. Meanwhile,
construction of a second development drift, complete with underground drill
stations, is progressing as planned.


At the Cone Mountain Uranium Mine, the Company has deployed a Jumbo drill that
is capable of 20 feet (6 meters) of advance per shift. The new portal has been
framed and stabilized, and development work on the decline is progressing with
the first uranium mineralized block, as defined by Atlas Minerals Corp.,
scheduled to be intersected in early September, 2008. The Company will be
submitting the Mine Plan of Operation to the State of Colorado and the Bureau of
Land Management (BLM) authorities this week.


Permits applications have been submitted to the BLM for their approval to begin
processing of the of the Patty Ann surface stockpile. The Company has an LOI
with Uranium One in respect of the Patty Ann surface stockpile. A reply from the
BLM is expected within 30 days as to acceptance or additional requirements for
the start of operations. The Patty Ann is an historic uranium stockpile which is
expected to be amenable to near term development and the shipping of ore(i) to
the White Mesa Mill.


At the Sunbeam Uranium Mine, bulk sample and Phase II drilling permit
applications have been submitted to the BLM and state regulators. The bulk
sample program will allow the Company to reopen the Sunbeam Uranium Mine, assess
underground conditions and move towards a production decision. Two mineralized
zones were identified in the initial round of the Bluerock 2008 exploration
drilling program and these targets will be followed up with the testing of a
third, "historical drillout" later this year.


Sale of Non-Core Assets

To focus resources on the Company's core Colorado operations, Bluerock entered
into an agreement to sell its Mongolian assets to Jindal Energy and Steel for
USD $1.3 million in June 2008. This transaction is expected to close in August
2008.


Also, exploration projects in the Orange Cliff and San Rafael Swell Districts of
Utah have been reassessed and deemed non-core assets within the Company's focus
of defining and developing near term uranium production. With this in mind, the
PSC, Herbie, On-Strike, Hidden Splendor, Ed/Sinbad, Big Fish and Little Fish
projects have all been returned to the option partners.


The 100% owned Mount Washington Claims and the 50% owned Betty Claims in British
Columbia were also deemed to be non-core assets and have been sold to a related
party. The Company received 75,000 BRD treasury shares for the transaction.


New Management Appointments

Bluerock is also pleased to announce the appointment of both Hal Richins and
Allan Founie to the company's subsidiary, Bluerock Energy Corp.


Hal Richins will become President and COO. Mr Richins graduated as a Mining
Engineer in 1979 and with an MBA in 1984. He comes to Bluerock from ASARCO LLC
where he held the position of Director of Mine Planning. Mr. Richins brings
strong mining organization and development experience that will be critical as
Bluerock works to grow its active mining operation from one uranium mine to
four. Stephen Glass has moved to CEO of Bluerock Energy Corp., where he will be
responsible for strategic corporate planning.


Allan Founie joins Bluerock Energy Corp. as Senior Geologist where he will be
responsible for all mine-site and exploration geology. Mr. Founie had previously
worked as a uranium geologist in the US and Paraguay with WildHorse Energy Ltd
and brings strong operational management skills to the Company.


"With the start of Uranium ore shipments from Bluerock's J-Bird Uranium Mine,
the Company is building a team that is clearly focused on developing and
expanding our Uravan and Lisbon Valley uranium mining projects. The additions of
two highly regarded and respected individuals in Hal and Allan will complement
Bluerock's development team and we very much look forward to working with these
two experienced individuals," said Bluerock President & CEO Michael Collins.
"These recent steps will ensure that the Company's full focus is on uranium
mining and production in support of the toll milling agreement with Denison
Mines (USA)."


(i) Ore, as stated in this news release, is defined as material that can be
mined and shipped to the White Mesa Uranium Mill under the Company's 'ore
purchase' agreement and/or toll milling agreement with the mill owner and
operator, Denison Mines (USA).


Bluerock Resources Ltd. is a uranium mining company focused on developing
tomorrow's energy today through the acquisition and development of conventional
uranium resources.


ON BEHALF OF THE BOARD OF DIRECTORS

Michael Collins, President and CEO

FORWARD LOOKING INFORMATION DISCLAIMER

Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the Ontario Securities Act
and the Alberta Securities Act, including statements concerning our plans at our
mineral projects, which involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking information.
Forward-looking information is subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those reflected in the
forward-looking information, including, without limitation, failure to establish
mineral resources; delays in obtaining or failure to obtain required
governmental, environmental or other project approvals; changes in national and
local government legislation or regulations regarding environmental factors,
royalties, taxation or foreign investment; political or economic instability;
terrorism; inflation; changes in currency exchange rates; fluctuations in
commodity prices; delays in the development of projects; shortage of personnel
with the requisite knowledge and skills to design and execute exploration
programs; difficulties in arranging contracts for drilling and other exploration
and development services; dependency on equity market financings to fund
programs and maintain and develop mineral properties; risks associated with
title to resource properties, particularly in Mongolia, and difficulties of
determining the validity of certain tenures and other risks and uncertainties,
including those described in each management discussion and analysis. In
addition, forward-looking information is based on various assumptions including,
without limitation, the expectations and beliefs of management; the assumed
long-term price of U308; the availability of permits and surface rights; access
to financing, equipment and labour and that the political environment within
Canada, the United States of America and Mongolia will continue to support the
development of environmentally safe uranium mining projects. Should one or more
of these risks and uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those described in
forward-looking statements. Accordingly, readers are advised not to place undue
reliance on forward-looking information. Except as required under applicable
securities legislation, the Company undertakes no obligation to publicly update
or revise forward-looking information, whether as a result of new information,
future events or otherwise.

Broadway Gold Mining (TSXV:BRD)
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から 11 2024 まで 12 2024

Broadway Gold Mining (TSXV:BRD)
過去 株価チャート
から 12 2023 まで 12 2024