Clean Energy from Uranium

Offering

The Rio Puerco Uranium Project is on Offer by Resurrection Mining LLC and their Joint Venture Partners.

History

Our Rio Puerco Uranium Project (the Project) in the New Mexico Grants Uranium District was an old Kerr-McGee uranium mine. The mine was operational and on its way to producing a planned 500 tons of ore per day. After the uranium price collapsed following the Three Mile Island incident, Kerr-McGee abandoned the mine. The Project includes mine infrastructure - the main shaft (sunk to a depth of 850 feet), loading bulkhead, two vent shafts, and room and pillar underground workings.

Exploration

Kerr-McGee and others afterwards (Uranium King Ltd, Morano Mining, and AusAmerican Mining) have conducted extensive exploration over the years. In the 70’s, Kerr-McGee drilled out the Project with 1,086 holes drilled at a length of 238,863 meters reportedly at a historical cost of $17.5 million before mining operations commenced.

Historical Public Offering

In 2006, Uranium King Ltd (UKL), an Australian company, publicly offered 26 million shares at A$0.25/share for A$6.5 million, this increased UKL's outstanding shares to 84 million. The offering was well received in the market with the share’s market price increasing to A$0.48/share on the day's close. UKL’s assets consisted of the Rio Puerco Uranium Project and their other holdings (Apex/Lowboy Project in Nevada and ChurchRock Project in New Mexico). The uranium resources of Rio Puerco were 74% of the total JORC inferred resource in the UKL public offering. (The related prospectus and independent Geologist report are linked under Resources.)

NI 43-101 Report

AusAmerican Mining commissioned an NI 43-101 Technical Report in December of 2011 (linked under Resources). This report analyzed only Section 18 and confirmed an inferred resource of 11.3 million pounds grading 900ppm using a 300ppm cutoff. The Project holds claims on Sections 17, 18, and 24.


Land Holdings

The Project holds 37 claims located in Sections 17, 18, T12N, R3W and Section 24, T12N, R4W, NMPM, Sandoval County, New Mexico totaling about 750 acres. This land is contained in two contiguous plots - The Betty Plot and the Syncline Plot. (See the detailed land holdings linked under Resources.)

Uranium Position

In 1975, W. Dean McDougald, Utah State Certified Professional Geologist #2193, calculated uranium resources at the request of Karl F. Meyers. McDougald used base maps and gamma ray, self-potential, and resistivity drill hold logs generated by Kerr-McGee between 1970 and 1975. For his calculations, McDougald used a mining cutoff of 0.05% U308 over a 6 foot minimum thickness. Laterally, he assumed a 50 foot radius around each drill intercept. McDougald then connected adjacent 50 ft circles with tangent lines and thereby outlined mineralized areas or blocks. This procedure was reportedly the same as used by Kerr-McGee, and was the accepted industry standard at the time. Using this historic methodology, McDougald calculated resource estimate for Section 18, T12N R3W, of 1,719,787 tons at an average grade of 0.11% U3O8 (i.e., 3,765,838 pounds of U3O8). The calculated resource estimate for Section 24, T12N R4W, of 201,684 tons at an average grade of 0.20% U3O8 (i.e., 821,962 pounds of U3O8). The report is linked under Resources.

Water Rights

Water rights to pump 20,750 acre feet of water over 25 years are attached to the Project’s claim containing the mine’s main shaft. There is water present on the property. An underground river can be heard loudly rushing under the two vent shafts. Details are linked under Resources.

Mine Infrastructure

The Project includes mine infrastructure - the mine’s main shaft (sunk to a depth of 850 feet), loading bulkhead, two vent shafts, and room and pillar underground workings. The condition of the underground workings is unknown.

Drill Hole Reports

Kerr-McGee drilled out the Rio Puerco Project and Drill Hole Reports were produced for Sections 17, 18, 19, 20 (T12N, R3W) and 24 (T12N, R4W). These reports document interval thickness and grade based on the gamma radiation readings. These reports include documentation of 808 drill holes (of which five are core samples) for Section 18 and 207 drill holes for Section 24. We have digitized the reports so that, with the drill hole locations, they can be used to build a model of the ore body. Examples of these reports are linked under Resources.

Underground Mine Construction Maps

Maps of the underground features of the Kerr Mc-Gee mine identify their mining priorities and also show the intersection of drill holes to the mining shafts and drifts. These maps are physical and can be viewed at our office in Albuquerque, New Mexico.

Location and Infrastructure

The mine’s main shaft and loading bulkhead can be seen on Google Earth at latitude 35°16'11.57"N and longitude 107°11'51.86"W. The property located in Sandoval County NM about 30 miles West of Albuquerque. It is easily accessible from Seboyeta via paved, gravel and dirt roads - all public, with no access permission needed. Electricity transmission lines run 7/10ths of a mile south of the mine main shaft. A map of the area is linked under Resources.