JNR Resources Inc fka JNN

[sumisu]

JNR and Altius Form Uranium Exploration Alliance

Wednesday October 3, 9:00 am ET

http://biz.yahoo.com/cnw/071003/jnr_altius_uranium.html?.v=1

TSXV: JNN
SASKATOON, SK, Oct. 3 /CNW/ - JNR Resources Inc. (TSXV:JNN) and Altius Resources Inc. report that they have established an alliance to explore for volcanic-hosted uranium deposits in a defined area in central Newfoundland and have staked 10,584 claims covering 2,646 square kilometres (264,600 hectares) in one of the largest staking campaigns ever undertaken in eastern Canada.

The new claims cover felsic volcanic and related intrusive rocks of Silurian to Devonian age including much of the Topsails Igneous Suite and the Springdale Group, both of which feature very large areas of coincident anomalous uranium, molybdenum and fluorine values in lake sediment samples.

Field investigations have confirmed the prospective geological setting for volcanic-hosted uranium deposits and a review of limited reconnaissance work reported in 1981 reveal radiometric anomalies over volcanic rocks that represent exploration targets.

JNR and Altius plan to conduct prospecting and geological mapping following a large-scale combined airborne radiometric and magnetic survey to evaluate the claims and to identify new exploration targets.

JNR and Altius will each hold a 50% interest in the venture. In return for generating the project, Altius has retained a 2% Gross Sales Royalty on uranium products and a 2% Net Smelter Return on all other commodities. JNR has agreed to make an initial 50,000 share payment to Altius and an optional 50,000 share payment on the first anniversary.

Altius' principal business activities include the generation and acquisition of projects related to natural resources opportunities mainly located in Newfoundland & Labrador, Canada. For more information please visit www.altiusminerals.com.

JNR is led by a highly experienced management team with proven discovery success in uranium exploration. JNR has an interest in more than 362,000 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.

JNR's Vice-President of Exploration, David L. Billard, PGeo, is the qualified person responsible for the technical data presented in this release. A glossary of the technical terms included in this release can be found on the Company's website at: www.jnrresources.com/s/Glossary.asp.


ON BEHALF OF THE BOARD

Rick Kusmirski
President & CEO

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


For further information

contact JNR Resources at [phone] or [phone]

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Source: JNR Resources Inc.