ESO Uranium Corp. – Gold, Lithium, Borax, Precious Metals and Uranium in North America

Overview

ESO Uranium Corp. (TSXV:ESO) is a junior exploration company with a focus on a wide variety of resources, including gold, uranium, lithium, borax, and precious metals. The Company has projects in British Columbia, Saskatchewan, Ontario and Nevada. Although most of ESO’s projects are solo ventures, it is also involved with partners such as Hathor Exploration Ltd. and Fission Energy, both of whom it shares a 50-50 ventures with on separate properties at; Cluff Lake and Patterson Lake in Saskatchewan, respectively.

Chief Properties

Athabasca Basin Project, Saskatchewan, Canada

ESO’s Athabasca Basin Project consists of five properties spread out across Saskatchewan’s Athabaska region, totaling over 100,000 ha of land. The most advanced of the five is the Cluff Lake property. More information regarding the Athabasca Basin Project is available through the company website.

Cluff Lake: Cluff Lake: The project totals more than 16,000 haand adjoins the former Cluff Lake (open pit) Mine which produced almost 30 million kg of U3O8 at a grade of 0.93%, which compare favourablebly to ESO’s 2006 drill program where they encountered a grade of 0.85% U3O8. The property also adjoins UEX/AVREVA’s Shea Creek Project. ESO’s parteners in the Cluff lake area are; Hathor Exploration Ltd. (TSX.V:HAT) a 50-50 joint venture, Logan Resources (TSX.V: LGR) and Acme Resources (TSX.V: ARI).

ESO Uranium recently announced the results of its latest discovery at the Patterson Lake property. This boulder prospecting and radon survey program is in conjunction with the Company’s 50% Joint Venture partner Fission Energy Corp. Highlights of the results are as follows:

• Twenty-five (25) high grade boulders with grades over 10% U₃O₈ are reported with highest grade assaying at 39.6 % U₃O₈ from a cobble 5 X 4 X 4 cm. The largest boulder sampled assayed 25.7%
• U₃0₈ and was > 40 cm in its longest dimension from apartially recovered block at depth of 90 cm.
  Twenty-three (23) boulders assayed between 1.0% U₃0₈ to 10% U₃O_8.

ESO Uranium’s Project Manager, Garrett Ainsworth says:

“We are taking advantage of two additional tools in the search for the source of the uranium, the first is the general relationship of the distance of such uranium boulder fields from source indicated in similar glaciated areas such as the Cluff Lake mine. We also found in earlier studies there that the dimensions of the boulder fields and the uranium grades appear to reflect the size and grade of the original source(s). The second tool has been the use of radon gas surveys. Radon is a radioactive gas, only produced by the natural decay of uranium, that will diffuse through permeable rocks and soils to the surface above. This is the closest to a direct measurement of a buried uranium target that we have. Radon is very soluble in water and movement of an aquifer over the origin of the radon can displace it from the source area further than the vertical flux rates in unsaturated soils. This is another challenge that can be resolved with drilling and a knowledge of local hydrology”

Donna Gold Property, British Columbia, Canada

Over the past three decades, a joint federal and provincial programme has carried out geochemical surveys in British Columbia. Lying in the Monashee Mountain Range and totalling 2173 ha, the Donna Gold Property lies centrally within one of the largest clusters of anomalous values in stream sediments for gold, as identified by the programme.
In 2010, ESO completed an initial drilling stage of targets within the known gold zones. The results yielded not only positive results within the trenching in the known zones, but also strong results leading westward into undrilled territory.

Highlights from the drill program:

• Near surface gold mineralization in identified in six out of seven drills.
• DDH 10-4 High sulphide interval of 0.5 m with 19.35 g/t gold within vein system 2.3 m at approximately true width, grading 3.8 g/t gold.
• DDH10-5: Veining in 7.5 m of core length, at approximately true width, with a grade of 1.67 g/t gold,
• Silver and pathfinder element assays to be completed in anomalous gold zones.

Teels Marsh and Marietta Properties, West-Central Nevada

Spanning just over 2300 ha the Teels Marsh property has a long history of borax production dating back to the 1870s. In 1973 uranium was reported on the property. A close neighbor to the largest lithium brine reserve in North America, Clayton Valley & Chemetal-Foote, is it unsurprising that the United States Geological Survey (USGS) reported lithium concentrations up to 850ppm in brine in Teels Marsh.(OFR: 76-567). Results of Boron on the property have been recorded as high as 893ppm.

Located adjacent to Teels Marsh, the Marietta property covers almost 1500 ha. First mined for silver and copper ores in the late 1800s, the property has a long history. After World War II it was discovered that the high grade ores carried uranium value. Grab rock samples conducted by the Company in 2008 yielded the following results: 16.5 g/t Au, 141 g/t Ag, 7.8% Cu, >1% Pb,0.69% Zn, 0.33% U3O8.

Mikwam Gold Property, Ontario, Canada

Located NE of Timmins, Ontario the 100% owned project cover approximately 1000 ha. It is located on the historically prolific Berardi Deformation Zone, known for gold and other precious metals minerilzation. It is situated about 35km from Auzrion’s (TSX:ARZ) Producing Casa Berardi Gold Mine (Reserve 956,000 oz. Measured & Indicated 936,000 oz, Inferred 920,000oz Dec 2008). The property has a historical geologically inferred resource of 1,504,300 tonnes grading 3.21 g/t gold totaling 155,827 oz (this resource is not compliant with NI 43-101 rules). Drill program highlights from the property have included, 4.10 g/t Gold over 19.0 metres, 4.99 g/t Gold over 13.0 metres, 6.32 g/t Gold over 5.6 metres. Drilling by ESO shows that the mineralization is open to depth and along strike.

Management

Anthony Harvey, Chairman & Director
Mr. Harvey has been consulting to companies in the resource industry for over 40 years and has worked on numerous projects with capital costs exceeding $450 million. He has first hand experience with a wide range of technical, commercial, corporate and associated public company activities with considerable interface around the world with government agencies, financial institutions and the media.

Mr. Harvey has worked for Wright Engineers Ltd.- Fluor Daniels in various management positions including, Senior Project Manager responsible for the design, construction and start-up of 14 mines world-wide on behalf of major mining corporations, and subsequently found 5 more.

Benjamin Ainsworth, MA, PEng, VP Exploration & Director
Mr. Ainsworth is a senior Geologist and mining consultant who has been involved in the mining industry for over forty years. He graduated in 1963 with an honors degree in Geology from Oxford University in England. He joined Placer Development in 1965 and held positions of Senior Geologist, Chief Geochemist, Exploration Manager — Eastern Canada, Exploration Manager — Chile, and President — Placer Chile, South America. Throughout the 70′s, Mr. Ainsworth was involved in the design, budgeting and implementation of exploration programs that included large drill programs, geophysical surveys, geological mapping, geochemical surveys, and a full range of project evaluation studies.

Mr. Ainsworth is also a Board Member of: HATHOR Exploration (TSX: HAT), discoverer of Canada’s newest world class Uranium deposit. DAJIN Resources (CVE : DJI) that has 100% interest in lithium brine concessions in Argentina.43-101 rules)

Kurt Bordian, CGA, Chief Financial Officer
Mr. Bordian is a designated Certified General Accountant in Canada, and holds a Bachelor of Commerce (Honors) Degree from the University of Manitoba. He has worked primarily in the mineral exploration and oil and gas industries over the past 10 years, and has held the position of Controller with three public companies exploring and operating in the Solomon Islands, Ghana, Tunisia and Western Canada. Mr. Bordian is also active with other public entities as Operations Manager and Corporate Secretary.

Warren Stanyer, Director
Mr. Stanyer has fifteen years of experience in the mineral exploration industry and has served as; a consultant, Corporate Secretary, Officer, Director, President and CEO to a number of public mineral exploration companies including Pioneer Metals Corporation (“Pioneer”), UEX Corporation (“UEX”), and Northern Continental Resources Inc. (“NCR”).

Mr. Stanyer began his career with Pioneer which was a Gold, Base Metal and Uranium Exploration Company with properties in New Mexico, BC, Manitoba and Saskatchewan. In 1999, Pioneer signed an option agreement with Cameco Corporation, which led to the formation of the pure uranium exploration company, UEX. Mr. Stanyer held the positions of Corporate Secretary and Vice President, Corporate Development in both Pioneer and UEX. In 2006, Barrick Gold Corporation took over Pioneer and Mr. Stanyer became a consultant during the transition.

In 2007, Mr. Stanyer began consulting for NCR, a Uranium exploration company and was appointed President and CEO in 2008. Hathor Exploration Limited (“Hathor”) made a successful offer in July 2009 to take over NCR, in competition with Denison Mines.

Currently Mr. Stanyer is a consultant to mineral exploration companies and is a Director of Nevada Sunrise Gold Corp. (NEV-TSX.V) and New Moon Minerals Corporation (a private mineral exploration company). Mr. Stanyer is also President of two other private companies, Ionic Minerals Inc. (a brine research company) and Trailblazer Exploration Inc. (a diamond exploration company).

James Yates, Director
Mr. Yates has over twenty years experience in the mineral exploration industry and has served as a director and officer of several public mining companies. From 1982 to 1988 he was the Founder, President, and Director of Hycroft Resources who successfully brought the Crofoot Mine into production, a gold heap leach operation with annual production of 100,000 ounces of gold. Mr. Yates has overseen the corporate management and financing of a number of projects in North America including American Bullion Minerals, Zappa Resources, and Jersey Goldfields, having raised in excess of $20million for mineral exploration development.