Ms. Anita Algie reports
UNITY EXPANDS WEST CARSWELL PROJECT, NW ATHABASCA BASIN
Unity Energy Corp. has refined its holdings in the West Carswell project. With the new claims, which were acquired
through staking, the company controls over 7,000 hectares and currently has over 63 kilometres of subsurface
conductive anomalies defined through Megatem and Geotem surveys from 2008 to 2010. The project
is approximately 10 kilometres west of the Cluff Lake mine, which was operated by Areva and produced over
62 million pounds of triuranium octoxide. The mine was decommissioned in 2002.
The most significant proximal exploration project is Shea Creek (Areva/UEX), which is host to three
uranium deposits that have recently estimated National Instrument 43-101-compliant resources. At a cut-off grade of 0.3 per cent triuranium octoxide, indicated mineral resources for the three Shea Creek deposits comprise 1,872,600 tonnes grading
1.54 per cent triuranium octoxide containing 63.57 million pounds of triuranium octoxide, and an additional 1,068,900 tonnes grading 1.04 per cent triuranium octoxide in the inferred category, containing 24.53 million pounds of triuranium octoxide. This estimate confirms Shea
Creek as the largest undeveloped uranium resource in the basin. It also ranks as the third largest uranium
resource in the basin, exceeded in size only by McArthur River and Cigar Lake. The majority of the
resources are from the Kianna and Anne deposits, where a significant portion of the resources lie in
basement rocks beneath the Athabasca unconformity. The Shea Creek project does not form part of
Unity's Carswell project.
Regarding the expansion of the West Carswell project, Unity Energy's geologist, Dr. Peter Born, PGeo,
commented: "The vast majority of significant uranium deposits are discovered through the investigation
of subsurface conductive anomalies. The company will be immediately conducting a compilation of the
known anomalies, with the intention of field exploration in the near term."
Dr. Born, PGeo, the company's qualified person and director, is responsible for the geological
content in this news release.
The Shea Creek resource estimate was prepared by K. Palmer, PGeo, of Golder Associates Ltd., an
independent qualified person as defined by NI 43-101, and was calculated using a minimum cut-off grade
of 0.05 per cent triuranium octoxide, utilizing a geostatistical block model technique with ordinary kriging methods and the
Datamine Studio 3 software package. The supporting technical report dated July 8, 2010, is available on
SEDAR and on the UEX website, and has not been reviewed or confirmed by Unity Energy's qualified
person.
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