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NORTHERN CANADIAN URANIUM INC.
FOR IMMEDIATE RELEASE
Northern Canadian Updates Athabasca Basin Uranium
Exploration
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Vancouver, British Columbia – June 25, 2007 – Northern Canadian
Uranium Inc. (TSX Venture Exchange: NCA; Frankfurt Stock Exchange: N4I)
(the “Company”) is pleased to provide an update of the Company’s ongoing
uranium exploration programs in the Athabasca Basin of Saskatchewan.
Exploration programs are underway at the Coin Canyon uranium project,
and the Collins Bay Extension (“CBE”) uranium project. The Company has
initiated evaluation of the Coin Canyon project located approximately 40
km east of the Beaverlodge uranium district and Uranium City, and 10 km
north of Lake Athabasca, on the north side of the Athabasca Basin. The
project contains three historic uranium occurrences reported in
assessment reports. The primary prospect contains high-grade pitchblende
and gummite that occurs in a shear-zone hosted within bedded paragneiss
with granitic phases. The only reported samples from the prospect
contain 3.66% U3O8 over 0.61 m and 3.37% U3O8 from a second sample,
located 35 meters to the north (these results are reportedly from
geochemical assays which are not compliant with NI 43-101 and must be
verified). The uranium occurrences are hosted in rocks that occur
stratigraphically below the Athabasca sandstones, in areas where the
sandstones have been removed, such that the uranium occurrences are
located in outcrops at surface. A historic airborne radiometric survey,
completed by Coin Canyon Mines in 1968 identified an area of anomalous
gamma radiation and ground follow-up surveys identified 15 prospects in
total. Northern Canadian will prospect and sample the property in the
coming month. Ground geophysical surveys will be conducted, based on the
results of the sampling program. Drill targets will be identified by the
September of this year. The project consists of one claim covering 923
hectares and the Company holds a 90% interest in the property.
The Collins Bay Extension project contains over 37,000 hectares of
contiguous mining claims located at the eastern end of the Athabasca
Basin, adjacent to Cameco’s Eagle Point uranium mine, and the historic
Rabbit Lake uranium mine and mill. The Company is taking a two staged
approach to exploration on this highly prospective property. The project
contains a series of northeast trending fault zones that are hosted in
the same rocks that host the major uranium deposits of the region. These
fault zones are accompanied by geophysical conductors that have a
cumulative strike length in excess of 100 kilometers. The Company is now
developing a geochemical sampling method designed to identify areas
containing elevated uranium within this extensive series of fault zones.
Orientation surveys are being conducted over an area containing a known
and proven uranium deposit, and the Company will collect a systematic
distribution of samples over the prospective fault zones, throughout the
CBE property. The geochemical results will allow the staff to identify
the highest priority target areas for future drilling.
In the second stage of the exploration program staff geologists are
following up on the results from the winter drill program. Drill holes
CB 06 and 07 intersected prospective, highly altered rocks containing
elevated uranium mineralization within a northeast trending fault zone,
interpreted to be the extension of the Collins Bay fault zone. Historic
drill holes are being re-logged to determine stratigraphic relations and
to further understand the geology of the region. Drill hole data is
being integrated with the Company’s extensive geological database and
GIS project to help prioritize exploration drill targets. The
geochemical sampling program and the drilling follow-up program are
seeking to identify uranium mineralization within the Collins Bay fault
zone, or similar fault structures. The Collins Bay fault zone is the
principal host for the Eagle Point uranium deposit, which contains over
140 million pounds of U3O8, and is located 8 km south of the Company’s
southern property line.
Northern Canadian Uranium Inc. (NCA)
Northern Canadian Uranium is a Canadian public company focused on the
acquisition, exploration and development of uranium resources. The
Company’s exploration programs are headed by Keith Laskowski (MSc., VP
Exploration), a designated Qualified Person (NI 43-101) and a geologist
with over 25 years of exploration experience. NCA has a pipeline of
uranium projects, ranging from resource definition to grassroots
exploration. The Company is also exploring six uranium exploration
projects in Wyoming and three projects in South Dakota. One project
contains a NI 43-101 compliant indicated uranium resource of 400,000 lbs
eU3O8. The Company has three properties in southwest Nevada and two
uranium concessions in Mali, West Africa.
Forward Looking Statements
Some of the statements in this news release contain
forward-looking information, which involves inherent risk and
uncertainty affecting the business of Northern Canadian Minerals Inc. It
is uncertain if further exploration will result in discovery of an
economic mineral resource on any of the properties. Actual results may
differ materially from those currently anticipated in such statements.
ON BEHALF OF THE BOARD OF DIRECTORS
“Praveen K. Varshney”
Praveen K. Varshney, CA
President
Contact: Investor Relations
Phone (604) 684-2181
info@northerncanadian.ca
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