JNR Resources Inc. (TSX Venture - JNN) is a junior resource company currently engaged in the exploration and development of mineral properties in the provinces of Saskatchewan and Newfoundland. The company has a varied interest in several prospective uranium properties in the Athabasca Basin of northern Saskatchewan that have been and will continue to be the focal point of JNR's exploration efforts.
Background
In February 1997, with uranium prices on the rise and expected to increase substantially within the decade, JNR Resources began to acquire a significant land position in the Athabasca Basin of northern Saskatchewan. The Athabasca Basin is recognized as the most prospective uranium-mining district in the world. JNR's highly experienced technical team engaged in a systematic program by of prioritizing and staking targets based on geology, metallogenic models and extensive review of historical assessment records. JNR's early foresight of a strong uranium market enabled the Company to acquire its prospective ground long before the Athabasca staking rush and current exploration "area play".
JNR's current holdings in the Basin include a 100% interest in 4 properties totalling 94,244 hectares and an additional 8 properties totalling 197,615 hectares in which JNR's joint venture partner, International Uranium Corporation (IUC), has an option to earn up to a 75% interest. IUC met its final earn-in commitments on the 35,339 ha Moore Lake property in August 2005 and now holds a 75% interest in the project.
In Dec 2004, JNR entered into a joint venture agreement with Altius Mineral Corporation to earn a 70% interest in their Rocky Brook uranium property located in western Newfoundland. The property is approximately 12,000 hectares in size and features three distinct areas of un-sourced, altered and mineralized sandstone boulders with reported values of up to 11.5% U3O8 and 859 oz/t (2.9%) silver.
Technical Expertise
JNR is headed by President & CEO, Mr. Rick Kusmirski, MSc, PGeo, who has over 25 years of experience in exploration in North America and overseas, and has actively participated in the discovery of a number of gold, uranium, and base metals deposits. Rick joined JNR Resources in 2000 and subsequently directed the exploration program that led to the discovery of the Maverick Zone on the Moore Lake joint venture property. Prior to joining JNR, Rick was the Exploration Manager for Cameco Corporation's uranium projects in the Athabasca Basin.
Heading up the Company's Technical Advisory Committee is Dr. Les Beck, PEng, PGeo, a world-renowned uranium expert and the author of numerous scientific publications dealing with uranium deposits in Saskatchewan, including, "Uranium Deposits in the Athabasca Region". Dr. Beck is the former Executive Director of the Geology & Mines Division for Saskatchewan Energy & Mines.
Rounding out JNR's technical team is Exploration Manager, Mr. David Billard, BSc, PGeo, who has over 25 years of industry experience, including 12 years with Cameco Corporation in western Canada and the western United States. JNR's Chief Geochemist is Mr. Ken Wasyliuk, MSc, PGeo, who has over 20 years of industry experience including 16 years with Cameco Corporation, where he became an expert on geochemical and clay alteration patterns associated with uranium deposits in the Athabasca Basin.
For more information, please visit JNR Resources website at www.jnrresources.com.
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