Uranium Intercepts Encountered From Phase 1 Drilling In Shirley Basin Area

VANCOUVER - Indigo Exploration Inc. reported on Phase 1 48-hole drill program on its uranium project located in the past producing Shirley Basin of Wyoming. Greater than 90% of the holes encountered uranium intercepts. Indigo's Hot Property covers a 5.75 km2 (2.2 miles) area of the Basin and has seen historic uranium exploration drilling completed between 1957 and 1981.

Indigo's Phase 1 drill campaign systematically explored a 1km x 1.3km area where 29 historic drill holes encountered 47 uranium intercepts with thicknesses of 0.91-3.66m (3-12 ft), averaging 1.6m (5.2 ft) thick, within the top 61m (200 ft). Average grade of mineralization in these 29 historic vertical holes was 0.089% eU3O8. Some of these historic holes went deeper, encountering uranium intercepts at 121.9-137.2m (400-450ft) depths.

Forty-four of the 48 vertical holes completed by Indigo encountered 165 intercepts of uranium mineralization with a grade at or over 0.01% eU3O8, typically having 3-4 zones per hole. Forty of 48 holes encountered 133 intercepts of uranium mineralization 0.91-7.92m (3-26 ft) thick, similarly averaging 1.6m (5.2 ft) thick with a grade estimate of at or over 0.01% eU3O8. Thirty-eight intercepts exceeded 1.8m (6 ft) thick. Indigo's holes were spaced roughly every 160 metres (525 ft) apart and typically only 53.3m (175 ft) deep, targeting the depths where the vast majority of historic intercepts occurred. There appears to be good lateral correlation of the multiple zones between holes.

Downhole gamma ray geophysical logging was employed to determine uranium intercepts and grade in this uranium roll front target area. Gamma ray signatures of the intercepts were characteristic of roll front "near interior" and "interface" peaks. Thicker and higher-grade areas of mineralization appear to favour multiple north-northeast south-southwest corridors and are open-ended in both directions. Deeper intercepts from historic drilling indicates additional uranium opportunities at depth on the property. The Phase 1 objective of a quick and low-cost test to verify uranium mineralization on the property was met with success. Company geologists will be working with this data for a more comprehensive interpretation and evaluation before a Phase 2 program is designed to target the nose of the roll fronts in the uranium-bearing stratigraphy on the property.