Magnum Uranium Commences San Rafael Drill Program

Magnum Uranium Corp. ("Magnum") (TSX VENTURE:MM) is pleased to announce the
commencement of drilling at its San Rafael Project located near Green River in
Emery County, Utah. The current drill program is targeted at the Down Yonder
Deposit and is expected to total 50,000 feet spread amongst approximately 50
holes having a depth averaging 1,000 feet. Bob Beeman Drilling Company of Moab,
Utah is conducting the drilling, and down-hole logging is being performed by
Century Geophysical Corp. of Tulsa, Oklahoma. Magnum has received all required
regulatory and other permits to conduct these exploration activities. This
drilling represents the first tranche of a planned 150,000 foot drill program to
be conducted at the San Rafael Project over the next 15 months.


The objective of the current drill program is to expand the known mineralization
on the Down Yonder Deposit through infill and step-out drilling on mineralized
holes that are open-ended. Magnum's recently released NI 43-101 report states
that the Down Yonder Deposit hosts an Indicated mineral resource of 729,100
pounds of U3O8 contained in 199,100 tons at an average grade of 0.183% eU3O8 and
an additional Inferred mineral resource of 1,071,100 pounds of U3O8 contained in
292,900 tons at an average grade of 0.185% eU3O8 (see Magnum News Release dated
March 25, 2008). Historically, it is estimated that approximately 160,000 feet
of drilling spread amongst 151 holes, comprising both RC and core, have been
completed on the Down Yonder Deposit and surrounding area by Conoco, Union
Carbide and others.


The San Rafael Project is located on the east flank of the San Rafael Swell, 10
miles west of Green River, Utah. The area was the site of mining and exploration
for uranium and vanadium from the mid-1950's until the 1980's, with over 4.0
million pounds of uranium and 5.4 million pounds of vanadium produced. The
uranium mineralization in this district occurs in the upper sandstone horizon of
the Salt Wash Member of the Jurassic Morrison Formation. Magnum has earned an
80% interest in this joint venture property from its partner, Energy Metals
Corp., a subsidiary of Uranium One Inc. (see Magnum News Release dated February
18, 2008).


John R. Carden, Ph.D., P. Geo., a Qualified Person as defined by National
Instrument Policy 43-101, is responsible for the technical information contained
in this news release.


The Company

Magnum is a Vancouver-based minerals exploration company focused on the
acquisition and development of uranium assets in North America. Currently,
Magnum's primary property holdings are located in the Western United States,
specifically Wyoming, Utah, Idaho, and New Mexico, and in Canada's Athabasca
Basin.


ON BEHALF OF THE BOARD

Craig T. Lindsay, President & CEO

This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.

Magnum Uranium Com Npv (TSXV:MM)
過去株価チャート
から 5 2024 まで 6 2024