Wi`ll see shortly of what initial results provide indications of strong uranium alteration. Stock may be stagnet until porved up. 50% chancge either way and the stocks trading at a low.....................
Northwestern Mineral drills some holes at Waterbury
2006-06-05 17:19 ET - News Release
Mr. Marek Kreczmer reports
NORTHWESTERN PROVIDES UPDATE ON WATERBURY URANIUM PROJECT IN ATHABASCA BASIN, SASKATCHEWAN
Northwestern Mineral Ventures Inc. has updated its shareholders on recent activities at its Waterbury uranium project, located in Saskatchewan's prolific Athabasca basin. A series of drill holes have been completed on the property and initial results provide indications of strong uranium alteration.
"Management is pleased with the early findings at Waterbury as they justify our confidence in the property's potential to host significant uranium mineralization," said Marek Kreczmer, president and chief executive officer of Northwestern. "We are currently in the process of conducting geochemical surveys on the core samples that were obtained during drilling. Following the receipt and analysis of the final results, we will be in a position to determine second phase drill targets, which could help us to further delineate potentially significant areas of uranium alteration."
As reported in Stockwatch on March 31, 2006, the drill program was designed to evaluate unconformity-related uranium targets at depths of less than 820 feet (250 metres). Final drill results are pending and will be disclosed upon receipt and compilation.
Northwestern signed a formal option agreement with CanAlaska Ventures Inc. to acquire up to 75-per-cent interest in the Waterbury project on Nov. 15, 2005. The nine non-contiguous claims total 30,683 acres (12,417 hectares) and are favourably located in close proximity to several of the world's largest uranium mines.
Firefly update
The Utah Bureau of Land Management has yet to provide Northwestern with a copy of its previously announced environmental study of the La Sal Creek area. Given the significant and positive progress that Northwestern is experiencing at Waterbury and at its other uranium properties in Niger and Quebec, the company's management team has elected not to proceed with the Firefly project in Utah. As an optionholder in the property, Northwestern will not incur any financial penalties in association with this cancellation.
We seek Safe Harbor.
