| December 10, 2008 Monroe Minerals Reports Sampling Results from Boxey Point Uranium Property in Newfoundland | |
| Calgary, December 10, 2008 - Monroe Minerals Inc. (TSX Venture: MMX) ('Monroe') announced today the results of analysis of samples taken during its Spring and Fall 2008 prospecting programs at the Boxey Point uranium property on the southern coast of Newfoundland. Altius Resources Inc. (TSX: ALS) ('Altius') under direction from Monroe is the operator for the Boxey Point property, where Monroe has the option to earn a majority interest by making staged share payments to Altius and incurring defined minimum exploration expenditures. Monroe is current in its earn-in obligations. In reviewing the latest exploration results, Derek J. Moran, President of Monroe, commented "Prospecting during 2008 at Boxey Point provided encouraging results and built on the rock samples from 2007 that assayed 738 parts per million (ppm) and 1,498 ppm uranium (0.09 to 0.18% U3O8). We expect to complete a busy and successful 2008 program with an expanded seventy-five line kilometre ground magnetics survey before the end of 2008. The results of the geological mapping, geophysical surveying and geochemical sampling program will aid in determination of drill targets, which we anticipate will commence during the first half of 2009." The Spring 2008 program included reconnaissance prospecting using scintillometers and the collection of 32 rock grab samples and 611 soil samples (which included 62 blanks, duplicates and standards), with the bulk of the work completed at the west-central part of the Boxey Point promontory. The preliminary geochemical results indicate there are anomalous uranium trends in soils extending eastsoutheasterly and northeasterly up to about 1.4 km away from the radioactive zone along the west shore of Boxey Point promontory. The Fall 2008 exploration program (October 1 to October 20) included geological mapping at scales ranging locally from 1:1,000 to 1:10,000+ more regionally, radiometric prospecting, collection of 34 rock chip and grab samples, a detailed radiometric survey along a mineralized zone exposed over about 80 metres in a sea cliff, and collection of 29 soil samples to complement the Spring program soil sampling. Rock samples collected during the Fall 2008 program contain up to 0.06% U3O8, plus elevated concentrations of some other elements. Monroe considers that further exploration is warranted at Boxey Point and an additional $750,000 work program has been planned, including:
Quality Assurance/ Quality Control All samples from the spring program were forwarded to Eastern Analytical Limited in Springdale, NL, with additional analysis performed at Actlabs for INAA/ICP analyses for uranium and additional elements. All samples from the fall program were forwarded to Actlabs for INAA/ICP analyses for uranium and additional elements. Monroe is engaged in the assembly of a portfolio of uranium projects and exploration thereon. Its strategy is well defined: enhancing shareholder value by combining Monroe's recognized twin strengths of technical expertise and professional management to advance exploration projects to profitable long term production. Monroe's shares trade on the TSX Venture Exchange under the symbol MMX. For more information please visit www.monroeminerals.com. - 30 - FOR FURTHER INFORMATION PLEASE CONTACT: Derek J Moran, President, Monroe Minerals Inc. 27 82 440 3426 Robin Cook, Senior Account Manager, CHF Investor Relations (416) 868 1079 x228 robin@chfir.com To receive company news releases via e-mail, please advise catarina@chfir.com and specify "Monroe press releases" in the subject line. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release Forward-looking statements: Except for statements of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. | |
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