JNR Resources Inc JNRRF

RE: Updates

[megphi]

Well, according to IUC's Interim Financial Statements of Feb. 17 on Sedar, JNR and IUC had staken 114,000 hectares of new properties in the basin as of the end of January. They will probably announce this as soon as they have finished staking. The predictions of uranium hitting $20 a pound of 6 months ago are no longer valid. Some analysts at PDAC are now predicting $50 a pound by the end of the year, although I feel that is extremely optimistic. Also, I believe hole ML-34 will be the hole that will be referred to when a deposit is confirmed at Moore Lake. Specific details on it were suspiciously not given. Although the area between hole ML-03 and ML-25 has brought back the uranium intersections, it is close to hole ML-34 that a mine will be determined. I may be wrong but time will tell.