Star Uranium Announces Uranium Exploration Update

[xcentrix]

Star Uranium Announces Uranium Exploration Update
Wednesday May 10, 9:54 am ET

SASKATOON, Saskatchewan--(BUSINESS WIRE)--May 10, 2006--Star Uranium Corp. (TSX VENTURE:SUV - News) Star Uranium Corp. is pleased to announce the following exploration update on its Uranium, properties.

Black Lake-Stony Rapids:

This property consists of 7 claims totaling 8788 hectares, located along the northern edge of the Athabasca Basin in Saskatchewan. Eleven kilometers to the southeast UEX has made an unconformity discovery at Black Lake. Their discovery hole had a intersection grading 0.694 per cent U308.Other operators in the area besides UEX are JNR Resources, Can Alaska Venture, Strathmore Minerals and Cameco. Star Uranium is planning an aggressive sampling and drill program for this 100% owned property for the 2006 season.

Collins Bay, Wollaston Lake

Star Uranium owns a 100% interest in a 1619-hectare mineral claim located two kilometers southeast of Cameco's Eagle Point uranium deposit and two kilometers east of the Collins Bay B Zone. Sampling and drilling are planned for the 2006 exploration season.

Cree Lake

The company recently acquired a 100% interest in a 5917 hectare property at Waite Bay on Cree Lake, Saskatchewan. The property sits on the Cable Bay fault and hosts a series of known conductors. An airborne survey will be flown over the property in the coming months to further define the conductors, to be followed by a summer ground program.

The board of directors is currently reviewing strategic initiatives to enhance shareholder value. These proposals include exploration of existing properties, the acquisition of additional properties, joint venturing of others, further equity financings and the possibility of splitting the Company into two entities, one for the purpose of uranium and base metals exploration and one for the purpose of diamond and precious metals exploration.

ON BEHALF OF THE BOARD

"Rick Walker"

Rick Walker,
President

The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of This News Release.


Contact:

Star Uranium Corp.
Rick Walker, 306-664-3828
Facsimile: 306-244-0042
www.staruranium.com
[e-mail]

Source: Star Uranium Corp.



biz.yahoo.com/bw/060510/20060510005591.html?.v=1

lol,

x

[favorofg]

One more feather in our cap!


FavorofG

[bombers73]

Splitting the company, !

[xcentrix]

My first pin, woohoo!

What a GLORIOUS day.

lol,

x

[Duc n Altum]

;D ;D

[diamonds4all]

xcentric,

This is a great PR and I'm sorry to sound so ignorant but can you remind me how this connects to us? I recognize Cameco, Rick Walker and Star Uramium but I don't remember how they connnect...

Thanks!

I sure hope I'm not the only one who doesn't remember...

[cmkxmoney]

Diamonds,

I am just guessing, but in addition to the reasons already mentioned there was a rumor awhile back that in the end there would be a company that split into two and that we would all end up as part of this company or be the holding company for this company. Half of the company would mine uranium and the other half Diamonds. This PR now seems to hint that the past rumor may be true.

[diamonds4all]

Cmkxmonkey,

Thanks for the response...I do remember something about that...



Any and all other comments are greatly appreciated...Again, I sure hope I'm not the only one who needs help here...

Thanks

Tramp, You got anything on this?

cmkxmoney said:

Diamonds,

I am just guessing, but in addition to the reasons already mentioned there was a rumor awhile back that in the end there would be a company that split into two and that we would all end up as part of this company or be the holding company for this company. Half of the company would mine uranium and the other half Diamonds. This PR now seems to hint that the past rumor may be true.

[lovetofly]

diamonds4all said:

xcentric,

This is a great PR and I'm sorry to sound so ignorant but can you remind me how this connects to us? I recognize Cameco, Rick Walker and Star Uramium but I don't remember how they connnect...

Thanks!

I sure hope I'm not the only one who doesn't remember...

Thanks for asking this question. This huge web of connected companies and people sure is confusing.

[xcentrix]

diamonds4all,

Today Consolidated Pine Channel Gold Corp. changed its name to Star Uranium Corp.

Consolidated (now Star Uranium) is one of our JVs.

lol,

x

[diamonds4all]

Excentric,

My bad...It's rare but I was off the board all day yesterday and I just saw your post below that showed the name change...

This is now even more incredible...

Thanks for your patience and help

xcentrix said:

diamonds4all,

Today Consolidated Pine Channel Gold Corp. changed its name to Star Uranium Corp.

Consolidated (now Star Uranium) is one of our JVs.

lol,

x

[pinkdiamond]

"STAR KIMBERLITE"=Shore Gold and "STAR URANIUM"=Consolidated Pine Channel, our JV Partner. Kinda makes ya go hmmmmmmmmmmmmm


Pink

[j]

pinkdiamond said:

"STAR KIMBERLITE"=Shore Gold and "STAR URANIUM"=Consolidated Pine Channel, our JV Partner. Kinda makes ya go hmmmmmmmmmmmmm


Pink

Do I hear Star Diamonds coming after the split into two companies?

[ming]

By: mr_raggs
10 May 2006, 01:05 PM EDT
Msg. 238868 of 239046
Jump to msg. #
news yesterday news today- more news coming- CONNECT ALL THE DOTTS

[tombraider38d]

Web site coming soon, don't it figure. Anyone got a stock symbol?

Tomb

[xcentrix]

Tomb,

SUV.V

Try this link too:

finance.yahoo.com/q?s=SUV.V&d=t

tombraider38d said:

Web site coming soon, don't it figure. Anyone got a stock symbol?

Tomb

lol,

x

[firefighter1118]

This also came out of the Canada news wire. FIRE

Star Uranium Announces Exploration Update
SASKATOON, SASKATCHEWAN, May 10 /CNW/ - Star Uranium Corp. (TSX
VENTURE:SUV) Star Uranium Corp. is pleased to announce the following
exploration update on its diamonds and metals properties.

Diamond Properties:

Peace River-Buffalo Head Hills, Alberta

The Peace River - Buffalo Head Hills Diamond Play is located 350 km north
of the City of Edmonton, Alberta. Star Uranium/ United Carina Resource
Corp.(TSX VENTURE:UCA) JV lands are located 70 km SW of the Ashton Mining JV
holdings which hosts K252 kimberlite pipe and an additional 37 pipes of which
25 are diamondiferous. The SUV/UCA exploration program has consisted
principally up until now of the collection of heavy mineral sampling for
kimberlitic and diamond indicators supplemented by analysis of airborne
geophysics. Recent sampling had been able to distinguish between at least two
till sheets, which cover the property. The indicator mineral suite found to
date is similar in composition to that found by Ashton, which is not
comparable to the classical model for diamondiferous kimberlite with the
associated G10 garnets. The kimberlitic indicator suite is dominated by other
mantle derived indicators from within the diamond stability field. The craton,
which underlies the Peace River - Buffalo Head Hills area, is obviously not
the same as other more conventional plays but still hosts 25 diamondiferous
kimberlitic pipes. The next planned stage of exploration is to follow up on
kimberlitic indicators found in overburden near circular geophysical targets.
The property is 320,000 acres, owned 50/50 by Star Uranium and United Carina.
Ashton Mining Canada (TSX:ACA) is in the area but a large number of juniors
also hold land in the area. The 2006 exploration program will consist of
airborne surveys, groundwork leading up to drilling of potential targets.

Saskatchewan Diamond properties:

Star Uranium has been involved in the Saskatchewan diamond play for many
years, having spent about $5 million to date on acquisition and exploration of
properties.
In partnership with United Carina, the Company also owns a 50% interest
in seven diamond claims in the Smeaton area of Saskatchewan, which is
northeast of Fort a la Corne area of Saskatchewan. One of these claims hosts a
kimberlite pipe on which the partners have drilled five holes. To date, only
one hole had been tested for diamonds, yielding two micro diamonds. Samples
are currently being shipped for testing to laboratory facilities in Saskatoon,
Saskatchewan for further testing.
The Company is a 10% partner with Entourage Mining Inc (OTCBB:ETGMF)in a
number of claims which all host magnetic anomalies and are being currently
explored by Entourage.
Additionally, Star Uranium and its 50% partner UCA applied to the
government of Saskatchewan for mineral rights to 25 claims totaling 33,196
hectares. Presently Star Uranium and its partner UCA are litigating with Shore
Gold Inc (TSX:SGF) as to ownership of these claims. The company anticipates a
ruling in their favor in September of 2006, with the Department of Energy and
Mines subsequently issuing certificates to Star and UCA. The properties in
question are scattered throughout the Fort a la Corne area, and all have
magnetic anomalies on them that could be caused by kimberlites. The largest
and at this time, the most important claim involved is a 60km bloc which is
about 8 km from Shore Gold's Star kimberlite pipe. Previous work on this
property by Star Uranium and its partner United Carina Resources Corp.
consisted of an airborne survey and ground geophysics, resulting in outlining
several drill-ready targets. Immediately upon ownership of these properties
being settled an aggressive drill program will be initiated.

Base and Precious Metals:

Star Uranium Corp. is in a 50/50 joint venture with United Carina
Resources ("UCA") owns two mineral claims near La Ronge, Saskatchewan along
strike about 3 kilometres from the former Anglo-Rouyn copper-gold mine.
Surface work consisting of rock trenching and geophysics has indicated good
potential for this property to host an economic copper-gold deposit. Diamond
drilling is planned to test two areas of interest with the first phase
consisting of about 1000 metres of drilling.
Star Uranium also owns a 100% interest in several other Base and Precious
Metals properties in Saskatchewan that it plans to explore in 2006 and will
update in future releases.
"The company is fully financed to execute its 2006 exploration programs
and is currently considering new financing opportunities to be more aggressive
in its future development," states Rick Walker, President Star Uranium Corp.
The board of directors is currently reviewing strategic initiatives to
enhance shareholder value. These proposals include exploration of existing
properties, the acquisition of additional properties, joint venturing of
others, further equity financings and the possibility of splitting the Company
into two entities, one for the purpose of uranium and base metals exploration
and one for the purpose of diamond and precious metals exploration. For more
information please visit our website at www.staruranium.com.

ON BEHALF OF THE BOARD
"Rick Walker"
Rick Walker,
President

www.newswire.ca/en/releases/archive/May2006/10/c8589.html