News
EXPLORATION YIELDS 0.17% URANIUM IN OUTCROP SAMPLING AT WOLLASTON LAKE –DRILL PROGRAM AND FOLLOW-UP SURFACE EXPLORATION TO BEGIN
October 1, 2008
Tribune Minerals Corp. (TSX-V: TCB) (Frankfurt: S8QA) (“Tribune” or “the Company”) is pleased to report results from the Company’s summer exploration program on its 100% owned Wollaston Lake claims in northern Saskatchewan. The Wollaston Lake property is located approximately 20 kilometres northeast of Cameco’s Rabbit Lake operations and adjoins Hathor Exploration’s Hatchet Lake project to the east. The property is on trend with numerous deposits and mines on the eastern boundary of the Athabasca basin.
During May and June, 2008, field crews completed prospecting, soil sampling and outcrop sampling over the claims. Work indicated several areas of interest, with the Dan showing being the most significant. The Dan showing consists of a 20 to 25 metre wide zone of silicification with related radioactivity in pegmatites and askosic sediments exposed over 85 metres of strike length. The zone is obscured by swamp to the north and overburden to the south. A radioactive mylonite zone borders the Dan showing to the west. Previous exploration returned values as high as 0.11% U3O8 in samples taken from the mylonite.
Sampling during the summer program included 20 outcrop and boulder samples and a close spaced soil sample grid over the showing.
The exploration program was supervised by Director, Edward Kruchkowski, P. Geo who is qualified person under NI 43-101. Samples were collected, bagged and delivered to Loring Laboratories Ltd. of Calgary, Alberta for analysis using 30 element ICP and fluorometric analysis to assay for U3O8.
Several samples from the Dan showing assayed greater that 0.1% U3O8 with one sample assaying 0.17% U3O8. As a result of this early success, the Company is preparing to conduct follow-up exploration beginning this month. In addition to ground geophysics, the Company will conduct additional surface prospecting, trenching and a 2000 metre drill program.
To finance the exploration program, the Company is raising $800,000 by means of issuing 8,000,000 flow-through units at a price of $0.10 per unit, subject to regulatory approval. Each flow-through unit will consists of one common share and one transferable non-flow-through share purchase warrant exercisable for a two year term at an exercise price of $0.10.
Tribune Minerals Corp. is a Canadian exploration company committed to the strategic acquisition of drill ready projects. Led by an experienced management team, the Company plans to explore its current portfolio of properties. The Company headquarters are in Vancouver, BC and shares are traded on the TSX Venture Exchange (TCB) and the Frankfurt Exchange (S8QA).
To find out more about Tribune Minerals Corp., please contact Graham Harris, Chairman and CEO, at 604-662-8183 or email investor@tribuneminerals.com. You may also visit our website at www.tribuneminerals.com.
TRIBUNE MINERALS 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.”
Forward-looking statements:
“This news release may contain forward –looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.”
