Vancouver, British Columbia, May 2, 2006 : Western Uranium Corporation (the “Company” or “Western”) is pleased to issue the following news release to expand upon, clarify and correct the disclosure relating to the Treeline Project, previously made April 26, 2006. Western commenced drilling at the Treeline Project, which is located in Grants, New Mexico, April 19, 2006. The first phase drilling of six conventional rotary holes is designed to confirm uranium mineralization initially reported by Conoco Resources in the 1970s.
An internal Conoco Inc. memorandum from 1978 estimated that there was approximately 1.5 million pounds of U3O8 contained in 593,448 tons at a grade of 0.13% U3O8. The mineralization, as defined by Conoco, is not National Instrument 43-101 (“NI 43-101”) compliant and the resource categories used by Conoco in its historical estimate would not match the resource categories and definition of mineral resource contained in NI 43-101. Accordingly, the the Company has undertaken confirmation drilling to confirm historical estimate. Results from the drilling should be available in the next two to four weeks.
The above statements were prepared by Pamela J. Klessig who is a qualified person as defined by NI 43-101. The Company is not treating the historical estimate as a current mineral resource or mineral reserve, as defined in NI 43-101, and the historical estimate should not be relied upon.
Western Uranium Corporation is a mineral exploration company with a focus on uranium. The Company has exploration properties in Kings Valley, Nevada and in Treeline, New Mexico. The Company has its head office in Vancouver, Canada; and its executive management team is based in Reno, Nevada
On behalf of the Board of
Western Uranium Corporation
“Pamela Klessig”
Pamela J. Klessig
President & CEO
For further information contact:
Western Uranium Corporation
Telephone: 775-827-3311
Email: info@westernuranium.com
Website: www.westernuraniumcorp.com
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved or disapproved of the contents of this press release.
Forward-looking statements: This document may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company’s capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
