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Roughrider Exploration Ltd
Symbol REL
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Close 2014-10-17 C$ 0.23
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Roughrider samples up to eight ppb U at Genesis

2014-10-21 11:58 ET - News Release

Also News Release (C-KIV) Kivalliq Energy Corp

Mr. Scott Gibson of Roughrider reports

ROUGHRIDER RECEIVES BIOGEOCHEMICAL RESULTS, GENESIS PROPERTY

Roughrider Exploration Ltd. has released the first set of results from the 2014 phase 1 field exploration work completed in September on its Genesis uranium property in northeast Saskatchewan. Pursuant to an option agreement between Roughrider and Kivalliq Energy Corp., Roughrider may acquire up to an 85-per-cent interest in the Genesis project (see Roughrider news release dated July 16, 2014). Roughrider is currently financing exploration of the 198,763-hectare Genesis property located along the WollastonMudjatik trend extending northeast from Saskatchewan's Athabasca basin.

"We are encouraged by the preliminary results from the summer exploration program," stated Scott Gibson, chief executive officer of Roughrider. "Our goal is to define and refine drill targets. Athabasca basement rocks have historically provided exceptional targets in other areas surrounding the basin. Roughrider and Kivalliq anticipate providing a compilation of results across several target areas in the coming weeks."

Roughrider and Kivalliq are currently analyzing the large amount of data being received (5,984 line kilometres of airborne geophysics, 291 lake sediment samples, 1,351 soil samples and 161 biogeochemical samples) with the goal of advancing a number of uranium targets for drill testing.

Roughrider has received results from the preliminary biogeochemical sampling (spruce boughs) at the Sava Lake priority area, combined with the airborne electromagnetic survey data. At Sava Lake, up to 1.4 kilometres of a newly mapped electromagnetic conductor has been highlighted by coincident biogeochemical anomalies in uranium, molybdenum, lead, antimony and rare earth elements (REEs). The Sava Lake area is also highlighted by anomalous regional lake sediment samples (up to 91.6 parts per million uranium; GSC 064L771906).

Biogeochemical sampling was attempted in the Sava Lake area as an alternative to conventional soil sampling due to the area being largely overlain by boulder-filled swampy muskeg. The results are considered typical for biogeochemical sampling, with results ranging between: less than one to eight parts per billion uranium (background of two parts per billion uranium), eight and 948 parts per billion molybdenum, five and 450 parts per billion lead, and one and 66 parts per billion antimony. Expansion of the biogeochemical sampling grid is being investigated (currently a total of 68 samples and three duplicates collected on four 300-metre-to-600-metre-spaced lines).

David Tupper, PGeo, vice-president of exploration, a qualified person under National Instrument 43-101, has reviewed and approved the technical information contained in this release.

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