Wave Uranium Acquires Second Mineral Lease on State Lands In
Southeastern Utah
5,414 Acres in Emery County
LAS VEGAS, Nev. (Business Wire EON/PRWEB ) June 3, 2008 --
Wave Uranium (OTCBB: WAVU) (the “Company”)
today announced the acquisition of a 5,414 acre mineral lease in Emery
County, Utah. This area is adjacent to 1,327 WAVU mining claims on
Federal lands and 1,042 acres of State Trust Lands previously leased by
the Company.
The area that the Company is venturing into is located in the San Rafael
Desert area of eastern Emery County Utah, just west of the Green River
and north of Glen Canyon National Recreation Area. The leased lands are
west of the Mineral Canyon mining district and Labyrinth Canyon Area of
Critical Environmental Concern (ACEC).
The Moss Back Member of the Chinle Formation is expected to underlie the
leased lands, based on drilling records from the oil and gas industry on
file with the Utah Geological Survey. Historic mines and prospects in
the canyon of the Green River and its tributaries indicate widespread
uranium enrichment in the area.
The claims group follows the subsurface extension of the same channel
trend in the lower Chinle formation that hosts the Lisbon Valley
district, which includes the world-class Mi Vida mine. The target is the
same host rocks as the Mi Vida, in a similar geologic setting, on the
nose of a plunging salt anticline. Total production from the lower
Chinle in southeastern Utah has been more than 100,000,000 pounds U3O8.
About Wave Uranium:
Wave Uranium is a Las Vegas, Nevada based exploration and development
uranium company. The Company is actively acquiring world class uranium
properties in prolific mining areas in North America.
Wave Uranium has assembled a team of geologists and directors with
proven track records in areas of mineral exploration, mining programs
and accessing global capital markets.
Safe Harbor : Except for the historical information contained
herein, the matters set forth in this press release, including
the description of the Company and its product offerings, are
forward-looking statements within the meaning of the "safe harbor"
provision of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially, including the historical
volatility and low trading volume of our stock, the risk and
uncertainties inherent in the early stages of growth companies, the
Company's need to raise substantial additional capital to proceed with
its business, risks associated with competitors, and other risks
detailed from time to time in the Company's most recent filings with the
Securities and Exchange Commission. These forward-looking statements
speak only as of the date hereof. The Company disclaims any intent or
obligation to update these forward-looking statements.
See the original story at: http://eon.businesswire.com/releases/uranium/company/prweb995064.htm
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