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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 -

Radium Analyses Identify Drill Sites at Kirrin's Alexis River Uranium Project in Labrador

12/09/2011 1:30pm

Marketwired Canada


Kirrin Resources Inc. (TSX VENTURE:KYM) is pleased to announce the completion of
radium analyses at its Alexis River uranium property located in southeastern
Labrador. Interpretation of the analyses points to two narrow radium anomalies,
correlating well with uranium values, as drill targets within the confines of
Anomaly Lake, which has reported up to 0.28% U3O8 in lake sediment.


Commenting on the analyses, Kirrin President and CEO, Derek J Moran said: "We
intersected 0.754% U3O8 across 0.2 m from 58.9 m to 59.1 m core length during a
short drill program at Alexis River which indicated that uranium mineralization
is indeed present in the local environment. This radium study focuses our
continuing exploration program to target more substantial occurrences of uranium
at the Alexis River property."


Kirrin retained Robert H. Morse, Ph.D., P.Eng. to oversee and interpret the
radium analyse which were done by Pylon Electronics of Ottawa on a suite of
seventy lake sediment samples from Anomaly Lake. This relatively small lake had
been identified by the Geological Survey of Canada and by Kirrin and its
antecedents as very high in uranium values, both in sediment and water.
Follow-up exploration of the Anomaly Lake catchment basin, including drilling
under the lake, did not discover important uranium mineralization, and thus the
cause of the elevated uranium geochemical anomaly was uncertain. Dr. Morse
concluded from his interpretation of the radium analyses that the most likely
explanation is that a high grade uranium source exists in either the rocks
immediately beneath or adjacent Anomaly Lake, and both uranium and radium were
leached from this source and transported hydromorphically along a structure
passing through Anomaly Lake.


Dr. Morse determined that the elevated radium correlated quite well with
elevated uranium, with the highest values for both being near the centre of
Anomaly Lake. In detail, however, the radium and uranium distributions are
different. The elevated uranium values show a single large anomaly parallel to
and occupying much of the centre part of the lake. In contrast, although the
higher radium values occupy roughly the same area as the uranium anomaly, the
radium anomaly is split in two along the middle, forming two long narrow
anomalies. The easternmost anomaly is the larger of the two and extends for
about 400 metres.


Among other conclusions by Dr. Morse: (a) the radium values are well above
background determined at other uranium locations in Canada at which similar
analyses have been performed, as are uranium values, (b) the radium values are
much lower than would be expected in secular equilibrium with uranium,
indicating that most of the anomalous uranium did not arrive in the lake
sediments physically in old mineral grains but by chemical precipitation from
lake or subsurface meteoric water, and (c) the radium values are much too high
to have developed by decay of uranium in the sediments in the 10,000 years since
the last ice age.


Kirrin is earning up to 70% interest in the Alexis River property by spending
$1.25 million on exploration by 30 June 2012. 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. 


Forward-looking information: Except for statements of historical fact, all
statements in this news release including, without limitation, future plans and
objectives of the Company are forward-looking statements which involve risks and
uncertainties. Specifically, this news release contains forward-looking
statements concerning the completion of a drill program as part of a broader
exploration program and the subsequent availability of data and reports and the
timing and constituents of these programs. There can be no assurance that such
statements will prove to be accurate; actual results and future events could
differ materially from those expressed or implied by such forward-looking
information and undue reliance should not be placed on it. The anticipated time
frame and constituents of the planned programs assumes the availability of
personnel and equipment from third parties and that the Company will continue to
allocate sufficient priority to this work relative to its finite cash resources
for its overall exploration activity. In each case the risk factors that could
cause actual results to vary from results expressed or implied by the
forward-looking statements contained in this news release are primarily events
beyond Kirrin's control. These forward-looking statements are made as of the
date hereof and except as required by applicable securities legislation, the
Company undertakes no obligation to publically update or revise forward-looking
information, whether as a result of new information, future events or otherwise.


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