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NewsMarch 16, 2009

MISSISSIPPI COUNTY, Mo. -- Gustavson Uranium Systems of Boulder, Colo., has finished testing 66 wells in Mississippi County as part of its search for uranium deposits. According to a news release, the company is now in the planning stages for an exploratory drilling program to help identify what its geologists think may prove to be a significant deep uranium system underlying portions of Missouri, Tennessee and Kentucky...

Standard Democrat

MISSISSIPPI COUNTY, Mo. -- Gustavson Uranium Systems of Boulder, Colo., has finished testing 66 wells in Mississippi County as part of its search for uranium deposits.

According to a news release, the company is now in the planning stages for an exploratory drilling program to help identify what its geologists think may prove to be a significant deep uranium system underlying portions of Missouri, Tennessee and Kentucky.

Preliminary analysis of the water well test data confirms the findings presented 30 years ago by the U.S. Department of Energy as part of that agency's National Uranium Resource Evaluation program.

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The test data provides a baseline of the current groundwater chemistry with content of any toxic elements, heavy metals or uranium occurring naturally in the local groundwater.

"The data has come back from identical wells that we tested in December 2008, and it is fully compatible with the NURE data," said John B. Gustavson, president and chief executive officer of the company. "These will be important levels to stay below, should the company advance into the recovery of what we believe could be possible deep uranium deposits. All future activities must protect the important shallow groundwater resources."

"Preliminary patterns show elemental concentrations of manganese in the natural groundwater," said Dr. Van Price, chief geologist for the company. "Manganese in near-surface groundwater is considered circumstantial evidence for upward recharge by reducing groundwater from deeper down, possibly along deep-seated faults. These faults are the favorable locations for uranium deposits."

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