VANCOUVER, BRITISH COLUMBIA --(CCNMatthews - May 14, 2007 ) - International Ranger Corp. (PINK SHEETS:IRNG) is very pleased to announce it has entered into a "letter of agreement" to aquire 100% interest the Four Corners Project located east of the San Rafael Reef in the Green River (Four Corners) Mining District (the "District") of Emery County, Utah . The Project was acquired at arms length from Energy LLC and E. John McDonald & Associates, LLC , both of Moab, Utah . Ranger will pay up to $1,000,000 in staking and BLM fee's and pay $1,000,000 in cash and 5,000,000 shares over 5 years for a 100% interest in the project.
The Project comprises ten Utah State Metalliferous leases, covering over 6,580.24 acres, and 1,144 unpatented lode mining claims of 22,880 acres, totalling 29,460.24 acres (over 46 square miles). The large acreage position is in very prospective uranium producing country, and includes (1) extensive old mine workings, (2) many referenced occurrences of mapped significant uranium showings shown on Plate 2 accompanying Bulleting 113 (referenced below) and (3) favorable sedimentary geologic settings for uranium ore genesis in the paleo-riverine environments in which much of the Colorado Plateau ore deposits in Utah are found. These are historic references and not the product of Canadian National Instrument 43-101 compliant studies or reports.
The general geographic area of the project lies north of Interstate 70 in Emery County, Utah , about 15 miles west of the City of Green River, Utah , at the base of the San Rafael Swell and to the east of the San Rafael Reef. Numerous Uranium mines were worked by Atlas Corporation and others in the past to the south of the Project area.
In the District, located 9 miles south of the Four Corners Project, was the Sahara Mine which had production of approximately 1,000,000 lbs U3O8. Approximately 2.5 miles southeast of the Four Corners Project is the Conoco Trend (a school land trust section and adjacent claims) which reports over 1,000,000 lbs U3O8 indicated as a non NI 43-101 resource estimate but they are considered indicative of exploration potential in the general area, now owned by Energy Metals Corp and farmed out to Mesa Uranium. Within the bounds of the Four Corners Project, as well as on land contiguous to the Project on the south, are mines formerly operated by Atlas Corporation .
On page 33 of the report entitled Geology and Recognition Criteria for Sandstone Uranium Deposits of the Salt Wash Type, Colorado Plateau Province, Final Report, dated January, 1981, by the US Department of Energy , the authors state that the Green River District had historic production of 670,000 tons of ore, containing 2,532,000 lbs of U3O8, of an average grade of 0.20%, with an equivalent content of vanadium. The authors attributed the source of this to W. L. Chenoweth, by personal communication in 1980 (Mr. Chenowerth is a consulting geologist, and former AEC geologist, who has extensively published on uranium mining production in the Colorado Plateau). The historic production came in part from the mines adjacent to and on the Project.
The authors specifically state that "Significant resources are known to remain in ... Green River district."
Bulletin 113 of the Utah Geological and Mineral Survey, entitled Geology and Uranium-Vanadium Deposit of the San Rafael River Mining Area, Emery County, Utah , contains extensive mapping of the paleo-riverine environment, the three recognized paleo-river trunk channels and the commingled deltas of each as they discharged into a paleo lacustrine uplift environment caused by an anticline cross-cutting the channels. It is in these channels and deltas that the minable zones were found in the past. The deltas of several trunk channels have not been explored beyond the occasional drill hole that encountered interesting uranium values. Exploration was abandoned on these promising uranium intersects in the aftermath of Three Mile Island and Chernobyl.
The technical information in this news release was reviewed by J. T. Shearer, M.Sc., P. Geo., the QP for the Company under NI 43-101.
On Behalf of Board of Directors
Jason Walsh
Safe Harbour Statement under the Private Securities Litigation Reform Act of 1995: The Statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, risks detailed from time to time in Rangers filings with the Securities & Exchange Commission .
FOR FURTHER INFORMATION PLEASE CONTACT:
International Ranger Corp.
Kevin Beaulieu
1-877-324-7245
Website: www.internationalranger.com
Source: International Ranger Corp.
