JNR Earns 70% Interest in Rocky Brook Project

JNR Earns 70% Interest in Rocky Brook Project

JNR Resources Inc. has received confirmation from Altius Resources Inc. that the company has earned an undivided 70% participating interest in the project. The Company has also received the final interpretation of a water geochemical survey carried out in the summer of 2008, and a preliminary interpretation from a recently completed 22.7 km induced polarization (IP) survey over several high priority targets on the property.

The water geochemical survey was carried out in the summer of 2008 to assist in delineating additional drill targets in the primarily bog-covered terrain of the Deer Lake Basin (see news release dated August 29, 2008). The survey was conducted over the most prospective portions of the Rocky Brook property and a total of 1,025 samples were collected and analyzed for trace elements by ICP-MS. Evaluation of the results of that survey is now complete. Uranium and associated trace element anomalies were detected up-ice of the Birchy Hill Brook, Wigwam, and Goose boulder fields as were seven additional target areas on the property. Associated elements within the anomalies include arsenic, barium, bromine, copper, molybdenum, lead and, selenium. Most of the anomalies define linear trends, which suggest an underlying structural control marginal to areas exhibiting a carbonate signature.

The 2009 winter IP survey was initiated to better define the structural controls suggested by the geochemical survey. The initial results were impressive enough that the survey was extended to provide detailed results in select areas. Preliminary results indicate the presence of several significant structural features coincident with the geochemical trends, which also appear to parallel the azimuth of the drill holes completed to date. This suggests that previous drilling did not test these highly prospective features in the optimum localities.

Exploration at Rocky Brook is focused on the discovery of bedrock sources for two discrete high-grade boulder clusters in glacial till, with reported historical assays ranging from 1% to more than 10% U(3)O(8), as well as very high-grade silver contents. Drilling to date has identified two areas of low level anomalous radioactivity at or near the overburden-bedrock interface proximal to the high-grade boulder clusters. Several geochemically-enriched fault structures and/or redox alteration fronts thought to possibly control the high-grade uranium-silver mineralization have also been defined.

Incorporation of the new IP and geochemical data into the current 3D model is in progress. This work will be used to direct the 2009 diamond drilling program that will be initiated later this summer. Tenders for the planned 2,000-metre program have been received.

JNR is led by a highly experienced management team with proven discovery success in uranium exploration. Its association with Altius on the island of Newfoundland is an invaluable local resource for the Company. In addition to its projects in Newfoundland, the Company has an interest in 14 projects totalling some 343,000 hectares of highly prospective ground in the renowned Athabasca Basin of northern Saskatchewan.

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