DENVER, March 2, 2005 (PRIMEZONE) -- Trend Mining Company (OTCBB:TRDM) is pleased to announce that its partner in uranium exploration, Nuinsco Resources Limited (TSX:NWI), has substantially increased the size of the Diabase Peninsula Property located in the Athabasca Basin of northern Saskatchewan.
The original property at Diabase Peninsula consisted of three claim units totaling approximately 4,200 ha (16 square miles). The recently completed staking of five additional contiguous claims brings to 21,040 ha (81 square miles) the total area now encompassed by the claim group -- a five-fold increase ver the original land position. Because of the highly prospective nature of the alteration and geophysical signatures underlying the original claim group, it was considered necessary to enlarge the land position to provide greater scope for exploration. The newly acquired ground covers the strike extension of the graphite bearing Cable Bay Shear Zone -- the structure considered to be an important locus for uranium mineralization in this part of the Athabasca Basin.
The Diabase Peninsula Property is located on the western shore of Cree Lake approximately five kilometres north of the southern boundary of the Athabasca Basin. The claim group overlies the contact of the Mudjatik and Virgin River Domains, which is occupied by the graphite-bearing Cable Bay Shear Zone. The claim group is known to encompass hydrothermally altered sandstone boulders and is underlain by electromagnetic geophysical anomalies indicating the possible presence of graphitic conductors in the basement.
The hydrothermal alteration and the geophysical anomalies are considered to be diagnostic hallmarks of potential uranium mineralization: the uranium mineralization can be concentrated where graphitic basement horizons cause uranium-bearing solutions to deposit high grade uranium mineralization, and these graphitic conductors can be sensed at the surface by modern geophysical methods. During the process of forming the uranium deposit, the same mineralizing solutions alter the mineralogy of the overlying sandstones, and thus the process of hydrothermal alteration (and related uranium deposition) can be inferred by the presence of altered sandstone boulders. That the claim block encompasses both the altered sandstones and the geophysical anomalies (suggesting the uranium-trapping graphitic conductors at depth) is considered to be highly favorable evidence for potential uranium mineralization at depth.
Trend Mining Company is a U.S. based mineral exploration company focused on platinum-palladium projects in Montana, Wyoming, and Saskatchewan as well as uranium exploration in Saskatchewan.
Throughout this press release there are forward looking statements and assumptions made by management within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are subject to the safe harbor created by those sections. Factors that could cause results to differ materially from those projected are, but not limited to, adverse price fluctuations of underlying metals, the company's ability to acquire and develop properties, competition from larger more established companies, the ability to finance future acquisitions and projects, and governmental regulation. Trend Mining Company believes that the projects it has entered into and those it will enter into show promise, but there can be no guarantee of that. This press release is for informational purposes only and should not be construed as an offer to solicit, buy, or sell any security.