Vancouver, British Columbia: Western Uranium Corporation (the “Company” or “Western”) is pleased to announce that it commenced drilling at the Kings Valley Project, near McDermitt, Nevada on April 27, 2006. Six reverse circulation drill holes are planned to test for uranium mineralization. These holes are designed to confirm uranium mineralization previously drill defined by both Chevron Resources Company and The Anaconda Company during 1976-1980. Both companies were active in the area and controlled two separate, but adjacent, claim blocks. Western Uranium Corporation has consolidated both areas previously held separately by Chevron Resources and Anaconda. Both companies had drill defined mineral inventories in their respective areas. Neither the resource calculations generated by Chevron for their area or by Anaconda for the adjacent block of ground are considered National Instrument 43-101 (“NI 43-101”) compliant. Accordingly the company has undertaken confirmation drilling. Upon satisfactory confirmation of previous results and additional phases of drilling, a NI 43-101 compliant resource will be calculated encompassing both localities.
As defined in an internal 1978 summary report Chevron Resources had defined a mineral inventory of approximately 11.4 million pounds uranium. The uranium mineralization is hosted in approximately 5.75 million tons @ 0.10% U3O8. These calculations are not NI 43-101 compliant and should not be relied upon.
Anaconda in the area adjacent to the Chevron mineral inventory, in a 1979 internal memorandum lists a mineral inventory of 5.7 million pounds @ 0.10% in 2.86 million tons. These figures are not NI 43-101 compliant and should not be relied upon.
The above statements were prepared by Pamela J. Klessig who is a Qualified Person as defined by National Instrument 43-101. The Company is not treating the historical estimate as a current mineral resource or mineral reserve as defined in NI 43-101. Results from the drilling should be available in the next four to six weeks.
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 nor 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.
