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KYM Kirrin Resources Inc.

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Share Name Share Symbol Market Type
Kirrin Resources Inc. TSXV:KYM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Kirrin Stakes New Property in SE Athabasca Basin

20/09/2011 1:30pm

Marketwired Canada


Kirrin Resources Inc. (TSX VENTURE:KYM) is pleased to announce that it has
staked an additional 4,185 ha adjacent to its Key Lake Southwest ('KLSW')
uranium property located on the southeastern margin of the Athabasca Basin in
Saskatchewan, Canada. Staking in the area was competitive and Kirrin secured its
target area and completed recording on September 3, 2011.


The staked area is situated in the Wollaston geological domain and is about 50
km south of the Wheeler River, the site of Denison's Phoenix discovery and about
25 southwest of the former Key Lake Mine. Exploration in the immediate area of
the staking is very active. Kirrin targeted the area (a) it is underlain by
geologically favourable western Wollaston Domain metasedimentary rocks, which
are cut by the major west-southwest trending fault structure that intersects the
uranium deposits at the former Key Lake Mine; (b) there are several reported
radioactive showings and some other historic exploration anomalies (e.g.,
airborne and ground electromagnetic (EM) anomalies) present; and (c) Kirrin's
2010 and 2011 airborne magnetic-EM surveys within the northeastern part of its
KLSW property has identified high to moderate priority EM conductors that trend
north-northeasterly onto the newly staked ground.


The eastern margin of the Athabasca Basin is home to the most productive and
highest grade uranium mines in the world with roughly 25% of the world's uranium
production coming from this area. Kirrin's targets are basement-hosted
unconformity-type uranium deposits, similar to Cameco's basement-hosted
Millennium deposit, located about 50 km to the northeast; the Phoenix discovery,
located about 60 km northeast; and the former Key Lake Mine, located about 35 km
east-northeast.


The new property will form part of the option agreement between Kirrin and
Majesta Resources Inc. whereby Kirrin is earning a minimum 70% interest in the
KLSW property by spending $3.0 million on exploration and making payments of
$310,000 by 31 December 2015. Kirrin is current on its obligations.


Reg A. Olson, Ph.D., P. Geol., principal of OAR-Rock Geoscience Ltd., is the
designated Qualified Person for Kirrin who has reviewed the contents of this
news release.


Additional information relating to Kirrin is available on Kirrin's web site at
www.kirrinresources.com and on SEDAR at www.sedar.com.


Kirrin is a Canadian green energy company that explores for rare earth elements
and uranium. In addition to its exploration activities, Kirrin seeks to enhance
its capitalization and the quality of its portfolio by utilising its
management's broad industry and international experience in the identification
of suitable rare earth elements and uranium companies and green energy assets
for acquisition, merger, strategic partnership or joint venture. Its strategy is
well defined: enhancing shareholder value by combining technical expertise,
corporate development skills and professional management. Kirrin's shares trade
on the TSX Venture Exchange under the symbol KYM.


To receive company news releases via e-mail, please advise lauren@chfir.com and
specify "Kirrin News" in the subject line.


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