Vancouver, Canada - Uracan Resources Ltd. (the "Company") is pleased to announce the commencement of a multi hole, helicopter supported diamond drilling program on its 100% owned North Shore property project in Quebec. The first phase of this diamond drilling program has begun at the A4 area of the Costebelle claims. The Company had expected to begin its winter drilling program earlier in the year, but has been delayed due to unseasonably warm weather in the North Shore area of Quebec.
This winter drill program is designed to follow-up channel sampling results that were previously reported by the Company on November 25, 2009 and is intended to further define mineralization potential in the vicinity of Uracan's trenching in the Costebelle claims.
The 2009 results included 12 meters grading 0.123% (1,233 ppm or 2.47 lbs/t) U3O8 (A4 Zone) and 6.5 meters of 0.074% (735 ppm or 1.47 lbs/t) U3O8 (H3 Zone) in saw channel samples. The mineralized zones at Costebelle are generally open in all directions as channel sampling was limited to areas of existing outcrop exposure, with shallow overburden cover overlaying large areas of the targeted airborne anomalies.
Double S Resource Estimate
Work is well underway to update the resource at Double S, Middle and TJ Zones which are host to an NI 43-101 compliant inferred resource of approximately 154.9 million tonnes at an average grade of 0.012% U3O8 containing 18.48 million kilograms (40.73 million pounds) of U3O8 at a 0.009% cutoff. The Double S portion of this resource will be updated based on the results from the 2009 drilling program in this area. The resource estimate calculation is being conducted by SRK Consulting and a revised NI-43-101 compliant inferred resource is expected to be released later in Q/1, 2010.
Uracan Resources Ltd. is a publicly-listed uranium exploration company, exploring for shallow, bulk tonnage style uranium mineralization in Canada. Uracan is led by a team of proven exploration and mine entrepreneurs and mine-builders. The information in this news release has been prepared and reviewed by Marc Simpson, P. Geo., the Company's Qualified Person under National Instrument 43-101 standards.
Investors are invited to visit the Uracan Resources IR Hub at http://agoracom.com/ir/UracanResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to URC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
