Uranium North Resources (URNMF)

[gsfl]

Uranium North Discovers New High Grade Gold and Silver Zones at Nowyak

10:01a ET January 12, 2012 (Market Wire)
Uranium North Resource Corp. ("Uranium North" or the "Company") (TSX VENTURE: UNR) announces that the 2011 exploration program on the Nowyak property in Nunavut has focused the company into a zone of high grade gold and silver mineralization with grab samples assaying up to 72.1 g/t Au, 1040 g/t Ag and 5.8% copper.

An induced polarization (IP) geophysical survey has outlined numerous contiguous anomalies within a 1.8 kilometre by 1.0 kilometre area along a shear zone. Follow-up prospecting of this area resulted in the discovery of numerous new mineralized zones between the historic Gareth and Century showings (see map - http://www.uraniumnorth.com/s/Nowyak.asp). Gold, silver and copper mineralization in this area is related to a nearby granodiorite intrusion. The zone remains open to the north, south and west.

Another high priority IP anomaly 750 metres to the south along the shear zone was also recognized. This IP anomaly extends at least 550 metres to the south in an overburden covered valley and is open to the north and south. Data from a ground magnetic survey suggests the presence of a similar granodiorite intrusion as observed at the Garath - Century showing.

"This new zone, defined by strong IP anomalies and associated gold and silver mineralization, is drill ready. Based on the high grade assays and extent of the zone, we have the potential to discover a significant gold deposit," says Mark Kolebaba, President and CEO of Uranium North Resources.

A total of 88 grab samples collected from the area are directly associated with the IP anomalies. Twenty four of the samples have returned high metal content with greater than 1 g/t Au. The table below highlights the most significant 2011 samples.

Nowyak Sample Highlights 
 ------------------------------------------------   ---------------------- 
 Sample  Au g/t  Ag g/t    Sample  Au g/t  Ag g/t    Sample  Au g/t  Ag g/t 
 ----------------------    ----------------------    ---------------------- 
 1         72.1    89.0    9         14.0     256    17         4.0    15.0 
 ----------------------    ----------------------    ---------------------- 
 2         48.3    30.0    10         8.6    20.3    18         3.7    69.9 
 ----------------------    ----------------------    ---------------------- 
 3(i)      27.3    1040    11         6.9     5.9    19         2.7    23.2 
 ----------------------    ----------------------    ---------------------- 
 4(i)      22.3    27.5    12         6.4     0.9    20         2.5     5.4 
 ----------------------    ----------------------    ---------------------- 
 5         21.2    16.2    13         6.0     7.9    21         2.1     0.6 
 ----------------------    ----------------------    ---------------------- 
 6         20.9    47.9    14         5.1     2.2    22         1.2    74.1 
 ----------------------    ----------------------    ---------------------- 
 7         20.6    33.0    15         4.3     3.2    23         1.2    52.9 
 ----------------------    ----------------------    ---------------------- 
 8        17.45    50.3    16         4.1     8.2    24         1.1     1.3 
 ----------------------    ----------------------    ---------------------- 
 (i)Sample 3 contains 1.06% Cu 
 (i)Sample 4 contains 5.8% Cu

Nowyak is considered a greenstone hosted lode-gold prospect. Several drill targets have been delineated within this zone. Plans for the 2012 season are underway. Drilling could begin in spring/summer 2012.

Bruce Kienlen, P.Geol is the Qualified Persons as defined by National Instrument 43-101, assisting in reviewing data for this property.

On behalf of Uranium North Resources

Mark Kolebaba, President and CEO