BLR 0.00% 0.2¢ black range minerals limited

ACQUISITION OF NORTH HANSEN ANDHIGH PARK URANIUM...

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    ACQUISITION OF NORTH HANSEN AND
    HIGH PARK URANIUM DEPOSITS
    Highlights
    �� Company secures a 100% interest in the North Hansen
    Uranium Deposit
    �� Initial exploration target of 5-7 million pounds of U3O8
    for the new project area that covers the North Hansen
    Uranium Deposit
    �� Company also secures a 100% interest in the High Park
    Uranium Deposit
    �� Initial exploration target of 1-1.5 million pounds of U3O8
    for the new project area that covers the High Park
    Uranium Deposit
    �� Company upgrades the exploration target estimate for
    its projects in the Canon City uranium mill area to 25-30
    million pounds of U3O8
    �� Anticipates progressively converting this target estimate
    to JORC-compliant by end of 2007
    Black Range Minerals Limited is very pleased to advise that it has
    secured a 100% interest in the mineral rights covering the highgrade
    North Hansen and High Park Uranium Deposits in
    Colorado, USA (see Figure 1). The Company now holds a 100%
    interest in the mineral rights for approximately 7,680 acres in the
    Canon City uranium mill project area.
    Based on results from considerable historic drilling and previous
    mineral inventory calculations the Company has determined an
    initial exploration target of 5-7 million pounds of U3O8 for the
    North Hansen Uranium Deposit and an initial exploration
    target of a further 1-1.5 million pounds of U3O8 at the High
    Park Uranium Deposit.
    These two deposits are both located within 20 kilometres of the
    Company’s 100% owned Taylor Ranch Uranium Project. As a
    result of their acquisition the Company has increased its
    exploration target estimate for its projects in the Canon City
    uranium mill area to 25-30 million pounds of U3O8.
    The Company anticipates finalising a JORC-compliant resource
    for the Taylor Ranch and Picnic Tree Project areas during the third
    quarter of 2007. It will then aim to convert the entire 25-30 million
    pound target estimate to a JORC-compliant resource by the end of
    2007.
 
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