MOAB, Utah, Oct. 24, 2007 (PRIME NEWSWIRE) -- Utah Uranium Corp. (the ``Company'') (OTC BB:UTUC.OB - News) is pleased to announce the initiation of a phase one drill program on the Company's Pinto Project, located 3 miles west of Hanksville, Utah.
The drill contract has been awarded to Bob Shupe Drilling of Moab, Utah. Drilling will commence in the north-western section of the Pinto Claims. An initial 20 drill-hole work program designed to test the massive Salt Wash member of the Morrison formation has been proposed by the company to explore the areas potential for roll-front uranium mineralization.
Chip samples from each hole will be examined by geologists and evaluated with a Radiation Solutions Inc. RS-125 Scintillometer to determine uranium mineralization. Mineralized material will then be sent to an ISO 9000 certified laboratory for analysis.
Jet West Geophysical Services LLC has also been contacted to provide down-hole Gamma Ray/SP/SPR geophysical logging of all holes. It is anticipated that field crew mobilization will begin within the next 2 weeks, with drilling operations commencing immediately thereafter.
About the Pinto
The Pinto property covers 344 mineral claims, consisting of 6,800 acres in the Henry Mountain Syncline of East Central Utah. The Henry Mountain Syncline is an enclosed structural basin within the Colorado Plateau of south-eastern Utah that is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment.
The first discovery, known as the Tony M mine, was made in the 80's by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds U308. Subsequently, the Bullfrog mine was discovered adjacent and north of the Tony M mine by Imperial Oil Corporation, and consists of an additional 12,924,000 pounds U308. These mines are currently owned by Denison Mines and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.
Utah Uranium Corp. ``UTUC'' has acquired the Pinto claims from Christian (Ted) Murer, P.Geo, the geologist who conceptualized, discovered and currently holds a production royalty on the Tony M mine. Ted has assembled the Pinto uranium claim package using the same data and methodology. Based on area extrapolations, the ``Pinto'' could hold significant amounts of uranium and vanadium.
About the company
Utah Uranium Corporation is a Moab, Utah based junior exploration and development company focused on the acquisition of past producing underground uranium mines, highly prospective new uranium projects and other conventional and non-conventional energy projects. All of the uranium projects acquired to date, in addition to those under review by the Company are within economic haul distances of the White Mesa Uranium Vanadium Mill in Blanding, Utah owned by Dennison Mines.
On behalf of the Board,
Peter Dickie, President
Cautionary note: This report may contain forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. Unless otherwise stated, any and all resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as ``reserves'' unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
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