Tribune Resources Corp.(the “Company”) (TSX-V: TCB) (Frankfurt: S8QA) with its joint venture partner Thunder Sword Resources Inc (TSX-V: THU) and 101073531 Saskatchewan Co., as Operator, recently concluded the initial meeting of its Joint Venture Exploration Committee wherein the parties discussed the drilling program for Botham Lake and for ongoing assessment work on the Dufferin East and Virgin River properties. As earlier announced, it was confirmed that the Phase 1 drilling of the target areas is expected to commence on or about August, 2007 and will consist of a 4,000 metre drill program. The cost of the program is estimated at $1,000,000 and will be funded by Tribune as part of its $1.5 million 2007 expenditure program required under the joint venture option agreement.
BOTHAM LAKE:
As it related to Botham Lake, discussions centered on the JV group’s ongoing review of historical assessment results and finalizing drill targets for the summer drill program set for August/September 2007. In making its assessment, the JV group has identified 20 potential targets from the earlier airborne and recent follow up ground geophysical programs. In assessing the drill targets the JV group agreed to continue to review and then prioritize the drill targets in regard to those areas where there is projected intersection of conductors with cross-cutting structures, and the comparisons of geophysical signatures to those of known deposits. Considerations of accessibility to targets for summer drilling may preclude several of the targets not being tested until next winter.
Geological mapping of target areas for mineralization and alteration zones will be carried out in conjunction with ongoing drill target assessment.
Botham Lake Anomalies:
Anomaly B79
The #3 conductor is the strongest anomaly and, therefore, is a first priority target. It is a narrow, well-defined anomaly that extends from near surface to depth suggesting a probable structure. The #1 conductor is a strong, shallow anomaly that is approximately 150 metres wide. The configuration of this anomaly suggests the presence of a possible graphitic lithological unit. The #4 anomaly is a medium strength complex conductor that has a cross-cutting structure at the north end.
In addition to prospecting in this area, it is recommended that two Max-Min lines running SW-NE be completed over the north end of #4. This should take a two man crew a couple of days to complete.
Anomaly B2
This anomaly is both near surface and at depth. The conductor is strongest between lines 45-225. It is a narrow, well-defined and east dipping conductor. Surface water conditions make the area logistically challenging to a summer drill program. Depending on the exact collar location to be decided, a winter drill program may be better suited to testing this anomaly.
Anomaly B1
This is a strong, narrow conductor that extends from near surface to depth. Surface water conditions make the area logistically challenging to a summer drill program. Depending on the exact collar location to be decided, a winter drill program may be better suited to testing this anomaly.
DUFFERIN EAST:
The program will consist of 3 gravity/mag geophysical grids to further explore EM conductors and associated structures identified in a recent airborne geophysical survey.
Ed Kruchkowski, P. Geol. is the Qualified Person as defined by NI 43-101 whom has reviewed this news release.
Forward Looking Statements
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and contents of upcoming work programs, geophysical, geological interpretations, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ substantially from those currently anticipated in such statements. Tribune Resources Corp. relies on litigation protection for forward-looking statements.
About Tribune Resources Corp.
Tribune Resources Corp. is a Canadian exploration company committed to the acquisition of advanced stage, drill defined, uranium exploration projects. Lead by an experienced management team, the company plans to aggressively explore its current portfolio of properties while continuing to build a strategic position in the Athabasca Basin. The Company headquarters are in Vancouver and shares are traded on the TSX Venture Exchange (TCB) and the Frankfurt Exchange (S8QA).
For more information on Tribune Resources Corp., call Graham Harris at 604-662-8183 or email investor@tribuneresources.com.
TRIBUNE RESOURCES CORP.
“Graham Harris”
Graham Harris
Chairman and CEO
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release
