DENVER, Nov. 29, 2005 (PRIMEZONE) -- Trend Mining Company (OTCBB:TRDM) is pleased to announce that its partner, Nuinsco Resources (TSX:NWI), is prepared to commence diamond drilling in early December at the Diabase Peninsula uranium project in the Athabasca Basin, northern Saskatchewan. Permits are in hand, and a drill rig is being mobilized to the property. A program consisting of a minimum of 2,500 meters (8,200 feet) is planned. Nuinsco Resources holds an option to earn 50% of the project by spending $CDN 1.0 million.
The 19,000 hectare (80 square mile) Diabase Peninsula project is located on the western shore of Cree Lake approximately five kilometers north of the southern boundary of the Athabasca Basin. Recently completed geochemical sampling identified anomalous areas containing favorable trace element anomalies and such hydrothermal alteration products as typically occur near unconformity-type uranium mineralization in the Basin. The geochemical anomalies are coincident with strong, continuous, geophysical anomalies reported previously. The combined anomalous geophysical and geochemical trends presently define a five kilometer domain at the center of the Diabase Peninsula claim group. This trend is coincident with a 35 km long airborne EM anomaly that extends the full length of the property from north to south. Combined, the geologic evidence provides compelling drill targets at Diabase Peninsula.
Saskatchewan's unconformity-type uranium deposits are among the richest in the world. Such deposits occur at the paleo-horizon (unconformity) between underlying Proterozoic basement rocks and overlying sandstones of the Athabasca Formation. The basement rocks often contain structures and horizons bearing graphite. The graphite horizons in turn are believed to control uranium deposition and may also serve as a guide to such mineralization during geophysical prospecting from the surface. Geochemical signatures suggestive of uranium mineralization can occur in the overlying sandstone, and thus a combination of geochemical and geophysical surveying methods are used to search for such buried deposits of high-grade uranium mineralization.
Trend Mining Company is a diversified, U.S.-based minerals company that offers investors exposure and leverage to discovery of precious and base metals. Trend's properties include its interest in the Andacollo gold mine in Chile, along with a compelling portfolio of uranium, PGM and base metal exploration projects in the United States and Canada. Trend is led by highly qualified management and a strong Board of Directors. Trend stock trades on the OTC Bulletin Board (OTCBB:TRDM).
Throughout this press release there are forward-looking statements and assumptions made by management within the meaning of Section27A 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.