WOODLAND HILLS, Calif., Aug. 6, 2008 (PRIME NEWSWIRE) -- Strongbow Resources, Inc. (OTCBB:STBR), a uranium exploration and development company, through its CEO Darren Hayes, today announced that it has received government approval to immediately commence drilling a series of 20 exploratory test holes at Cameron's Corner. The Cameron's Corner area, located on the border of Queensland and New South Wales in Southern Australia, is an area where Uranium, Gold, Copper and Coal are all viable targets. The drilling of the 20 holes is estimated to take under a month.
Darren Hayes, CEO, stated, "The Strongbow Tenements are known to host extensive paleochannels. Airborne radiometric mapping has shown areas of enhanced uranium associated with these paleochannels. The holes will be radiometrically logged, and samples of any radiometrically anomalous zones taken for chemical testing. It is expected that these holes will delineate the most prospective areas and focus further drilling."
About Strongbow Resources
Strongbow's strategy was developed and is supported by experienced and highly knowledgeable internal and external industry experts, and is being executed by our team of dedicated and professional Company employees.
* Strongbow Resources Inc. holds and controls seven (7) exploration licenses in the uranium rich Southern Australia Frome Embayment area. * The company's exploration licenses cover an area of approx. 3,792 sq. kilometers in the Frome Embayment, known as Cameron's Corner Paleochannel Project (CCP Project). * Tenements are in close proximity to large world renowned 'Beverly,' 'Olympic Dam' and 'Honeymoon' uranium projects. * All of these areas are considered to be prospective for uranium and will form the basis for exploration activities. * Located 560 kilometers north of Adelaide, South Australia, Olympic Dam is a direct neighbor to our south. Olympic Dam is the world's largest uranium deposit.
Our financial objective is to provide superior and sustainable performance to our shareholders by participating in a well balanced portfolio of proven and conventional opportunities, exercising financial and operational discipline, and applying a comprehensive risk management strategy.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," and other similar words. All statements addressing operating performance, events, or developments that the Company expects or anticipates will occur in the future, including but not limited to statements relating to the Company's mineralized uranium materials, timing of receipt of mining permits, production capacity of mining operations planned for property acquisitions in Australia, planned dates for commencement of production at such properties, revenue, cash generation and profits are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, the spot price of uranium, weather conditions, operating conditions at the Company's mining projects, government regulation of the mining industry and the nuclear power industry, world-wide uranium supply and demand, availability of capital, timely receipt of mining and other permits from regulatory agents, and other factors which are more fully described in the Company's documents filed with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the Company's underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company's forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.