Uranium North Resources Acquires Two Properties With Widespread Uranium Mineralization

Uranium North Resources has been awarded three exploration permits covering two separate properties with previously identified widespread uranium mineralization in the Thelon Region of Nunavut. These highly desirable properties are 100% Uranium North-owned and cover 132,000 acres.

The Hawk and Yathkyed Lake properties are located approximately 300 kilometres south of Areva Resources Canada Inc.'s 147-million-tonne Kiggavik uranium deposit, which highlights the uranium potential of this largely unexplored region. Hawk Lake is east of and contiguous to Uranium North's Baker Lake property, while Yathkyed Lake is located 120 kilometres east of South Baker.

"This is one of the last remaining areas in Canada where a company can still be the first to acquire such large tracts of land in an emerging uranium district," says Mark Kolebaba, President and CEO of Uranium North Resources. "Strategic uranium land acquisition forms a pillar of our business strategy and is an important value driver for the Company."

Mineralization on the Hawk and Yathkyed Lake properties was identified in the late 1970's prior to the worldwide collapse in uranium price in the early 1980's. The Company believes development of the property was discontinued in conjunction with this collapse leaving the properties under explored.

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