JNR Resources Inc fka JNN

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JNR to Option South Fork Project to Uranium Power Corporation

Monday May 14, 8:30 am ET

TSXV: JNN Email: info(at)jnrresources.com Website: http://www.jnrresources.com

SASKATOON, SK, May 14 /CNW/ - JNR Resources Inc. (TSXV:JNN) is pleased to announce that it has signed an option agreement with Uranium Power Corp (UPC-TSX.V) whereby UPC can earn up to a 65% interest in the South Fork project, located to the east of the Cypress Hills in southwestern Saskatchewan.

The terms of the agreement call for UPC to reimburse JNR for prior expenditures, not to exceed $100,000, and to carry out $1,500,000 of exploration by January 25, 2009 to earn a 50% interest in the property. UPC can then increase its interest to 65% by spending an additional $1,000,000 on exploration activities by January 25, 2011. UPC will be the operator.

The project consists of just over 50,000 hectares with excellent potential to host roll-front uranium deposits, in a geological environment very similar to the prolific Powder River Basin in Wyoming. In Wyoming, such deposits are commonly amenable to in situ leach recovery. The property is underlain by sandstones and shales of the Frenchman and Ravenscrag Formations.

The area was explored in the late 1970's and early 1980's by Saskatchewan Mining Development Corporation (SMDC), a predecessor company of Cameco Corporation. SMDC carried out regional geochemical and geophysical surveys, followed by reconnaissance drilling programs. These field activities resulted in the identification of several extensive regional redox systems that were never followed up to any great extent. SMDC dropped the project after the 1982 field season due to depressed uranium prices. Reconnaissance-scale drilling by SMDC intersected anomalous uranium concentrations over widespread areas.

An aggressive exploration program is planned for 2007. This will include a variety of geophysical surveys, likely followed by drilling this fall. The planned exploration budget for the assessment year ending January 25, 2008, is $750,000.

Rick Kusmirski, President of JNR Resources commented, "The opportunity to work with UPC affords us the ability to utilize UPC's operational expertise in the exploration and development of in situ recoverable uranium deposits. We are very pleased to be working with UPC in this regard."

Dave Billard, P.Geo, Exploration Manger for JNR Resources is the Qualified Person responsible for the technical content contained in this release.


ON BEHALF OF THE BOARD

Rick Kusmirski
President & CEO

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.


For further information

JNR Resources at [phone] or [phone]

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Source: JNR Resources Inc.

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