VANCOUVER, British Columbia, July 30, 2007 (PRIME NEWSWIRE) -- Steven Schurman, CEO, Professional Geologist (U.S.) reports:
Running Fox Resources (TSX-V:RUN) (Pink Sheets:RFXRF) (Frankfurt:C8Q) is pleased to report that it has acquired 2,880 acres by staking lode mining claims covering extensive uranium mineralization in New Mexico, USA. Prior to the collapse of uranium prices in the early 1980s, exploration and development drilling by a number of major mining companies identified a series of shallow uranium and vanadium deposits covered by the area acquired by Running Fox.
Based on discussions and detailed analysis with the geologist who managed several of those drill programs, and on over 150 drill holes, it is believed that the land that Running Fox has acquired may contain several million pounds of uranium and up to 8 million pounds of vanadium (this is non National Policy 43-101 compliant and is not to be relied on). Additionally, he has indicated that published chemical assays were taken from surface rock samples located within 500 feet of the existing Running Fox claims that assayed as high as 2.31% uranium and 1.64% vanadium.
Chemical assays of drill cuttings in the same area varied up to 1.05% uranium and also contained vanadium. Some of the uranium mineralization encountered in these drill holes is near the surface.
Running Fox will compile all available geological and drill data and be commissioning a 43-101 report from the qualified geologist, and will continue to study the area surrounding this acquisition, acquiring additional property as warranted. This is one of four uranium mineralized projects situated in the United States that Running Fox has been working to acquire.
Running Fox is a Canadian growth-oriented small cap company developing four key divisions:
1. Energy Sector Oilfield Services and Technology; 2. Oil and Natural Gas Exploration and Production; 3. Uranium and Gold Exploration Mineral Projects; and 4. Environmental Services: Encapsulation and Remediation. On behalf of the Board of Directors: Steven Schurman, Running Fox Resource Corp. Contact: Steve Schurman 1 403 742 0500 www.foxgold.ca
The Company relies on legislation applicable to forward looking statements, and seeks safe harbour. The TSX-V has neither approved nor disapproved of this news release.