Nice board asus - RSDS News OUT!
RSDS -- Russell Industries, Inc.
Com ($0.001)(New)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Russell Industries Continues Acquiring Uranium Mining Claims
HOUSTON, May 02, 2007 (BUSINESS WIRE) -- Russell Industries, Inc. (Pink Sheets:RSDS) announces that it has acquired an additional 50 Uranium Mine Claims in San Juan County, UT. The claims are located in close proximity to the Company's other Rage Claims.
This acquisition raises Russell Industries current total of San Juan County Uranium Claims to 254, covering an area of 5,080 acres. The company plans to begin mining operations, with estimated reserves of up to 1,000 tons of Uranium, in May.
"We have elected to engage two independent geologists to issue NI 43-101 compliant reports to establish an economic valuation of the underlying assets of the claims we now have in house," said Russell Industries President and CEO Mr. Rick Berman.
A National Instrument (NI) 43-101 report is the standard that Canadian Securities Administrators have developed to regulate how public companies or "issuers" can disclose scientific and technical information about mineral projects to the public. This report is also used in the EC as a standard that investment funds use when evaluating potential investments. The report is expected to be delivered during the fourth quarter of 2007.
Safe Harbor
Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
SOURCE: Russell Industries, Inc.
CONTACT: Russell Industries, Inc.
Rick Berman, 713-446-7231 (Investor Relations)
Fax: +1 281-298-9055
rusind@aol.com
Copyright Business Wire 2007
