Vancouver, B.C. - May 31, 2007 - Terra Ventures Inc. (TSX-V: TAS) has completed airborne surveys from two airborne electromagnetic and magnetic surveys carried out over its uranium properties in the Athabasca Basin in Saskatchewan. Using the Megatem (Fugro) and VTEM (Geotech) airborne surveys, these systems are considered to be the airborne survey industry's best deep-penetrating electromagnetic and magnetic units - powerful tools used in outlining structure, favourable geology, zones of conductivity, zones of resistivity and magnetic zones in the basement rocks and zones of alteration in the overlying sandstone. The survey results are currently being analyzed and evaluated to determine potential drilling targets.
Fugro Airborne Surveys carried out a 2,700 line kilometre Megatem geophysical survey over parts of the Carswell Lake uranium property in the western part of the Athabasca Basin. Two areas of the Carswell property were targeted in this initial airborne survey. Cogema identified the first area in 1966 along the boundary between the Firebag and the Clearwater domains, which appear to have the same geological setting as the Shea Creek uranium discovery. The second area is along the Grease River shear, a major regional structure that cuts through the Carswell Lake property.
The Carswell property is located approximately 25 kilometres north of Cogema's former Cluff Lake mine (63 million pounds U3O8 produced) and approximately 35 kilometres north of UEX's Shea Creek uranium discovery (drill intersections up to 58.32% U3O8 over 3.5 metres).
Geotech Ltd. completed a 3,235 line kilometre helicopter-borne VTEM geophysical survey over parts of its Black Lake uranium properties in the northeastern part of the Athabasca Basin. The Black Lake properties are located on the northeast margin of the Athabasca basin, near Black Lake. The depth to basement on the properties ranges f rom nil to only 200 metres. Some of the properties are located on or adjacent to Snowbird tectonic zone, which separates the Rae province on the west from the Hearne province on the east.
Upon completion of geophysical interpretation, Terra intends to carry out a field program to sample of clay alteration. Drilling will follow to test targets. Uranium deposits in the Athabasca Basin have distinctive clay alteration halos, which can be detected in surface sampling.
"Terra is aggressively searching for high-grade, unconformity-type uranium deposits in Saskatchewan's Athabasca Basin," says Greig Hutton, president of Terra Ventures. "The completion of these airborne surveys takes us one step closer in identifying solid drilling targets in Terra-owned properties this year."
In 2004, the Athabasca basin hosted the world's richest uranium mines and provided 30 per cent of the world's uranium needs. The most exciting development in the Athabasca b asin in recent years is the Cogema/UEX Shea Creek uranium discovery (drill intersections up to 58.32 % U3O8 over 3.5 metres).
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
For further particulars about the Company please contact 604-683-0911 or visit the Company's website at www.terrauranium.com.
Fugro Airborne Surveys carried out a 2,700 line kilometre Megatem geophysical survey over parts of the Carswell Lake uranium property in the western part of the Athabasca Basin. Two areas of the Carswell property were targeted in this initial airborne survey. Cogema identified the first area in 1966 along the boundary between the Firebag and the Clearwater domains, which appear to have the same geological setting as the Shea Creek uranium discovery. The second area is along the Grease River shear, a major regional structure that cuts through the Carswell Lake property.
The Carswell property is located approximately 25 kilometres north of Cogema's former Cluff Lake mine (63 million pounds U3O8 produced) and approximately 35 kilometres north of UEX's Shea Creek uranium discovery (drill intersections up to 58.32% U3O8 over 3.5 metres).
Geotech Ltd. completed a 3,235 line kilometre helicopter-borne VTEM geophysical survey over parts of its Black Lake uranium properties in the northeastern part of the Athabasca Basin. The Black Lake properties are located on the northeast margin of the Athabasca basin, near Black Lake. The depth to basement on the properties ranges f rom nil to only 200 metres. Some of the properties are located on or adjacent to Snowbird tectonic zone, which separates the Rae province on the west from the Hearne province on the east.
Upon completion of geophysical interpretation, Terra intends to carry out a field program to sample of clay alteration. Drilling will follow to test targets. Uranium deposits in the Athabasca Basin have distinctive clay alteration halos, which can be detected in surface sampling.
"Terra is aggressively searching for high-grade, unconformity-type uranium deposits in Saskatchewan's Athabasca Basin," says Greig Hutton, president of Terra Ventures. "The completion of these airborne surveys takes us one step closer in identifying solid drilling targets in Terra-owned properties this year."
In 2004, the Athabasca basin hosted the world's richest uranium mines and provided 30 per cent of the world's uranium needs. The most exciting development in the Athabasca b asin in recent years is the Cogema/UEX Shea Creek uranium discovery (drill intersections up to 58.32 % U3O8 over 3.5 metres).
Mike Magrum, PEng, a qualified person under National Instrument 43-101, has approved the technical content of this news release.
For further particulars about the Company please contact 604-683-0911 or visit the Company's website at www.terrauranium.com.
On behalf of the board of directors of
TERRA VENTURES INC.
"Greig Hutton"
Greig Hutton
President
Renmark Financial Communications Inc.
Christopher Wells : cwells@renmarkfinancial.com
Barry Mire : bmire@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
