| ||Tue May 3, 2005|
Firestone Ventures Announces Results from Alberta Sun Uranium Property
| ||May 3/2005 - Firestone Ventures Inc. (FV: TSX-V) is pleased to announce that it has received geochemical results from a two-day field program at the 95,000 acre Alberta Sun uranium property located 30 km south of Fort Macleod, Alberta, Canada. The Alberta Sun uranium property has potential for sandstone-hosted uranium deposits. Typically these uranium deposits constitute about 18% of the world uranium resources and grade from 0.02 to 0.40% U3O8. Elements associated with sandstone-type uranium include vanadium and molybdenum. |
In the central Alberta Sun claimblock centered on the Waterton River, strongly hematite-stained sandstone, carbonaceous material and green shale was noted throughout the Willow Creek Formation section. Composite grab samples of isolated organic debris material returned 5630 ppm (0.664% U3O8), 6830 ppm (0.805% U3O8) and 7640 ppm (0.901% U3O8) uranium. These three samples also returned above background levels of vanadium, arsenic, selenium, molybdenum, and lead. A grab rock sample of bentonitic mudstone returned 4 ppm uranium, 75 ppm vanadium and 33 ppm lead. A grab rock sample of hematitized sandstone returned 9 ppm uranium, 28 ppm vanadium and 39 ppm lead.
Zone 2 (40 km southeast of Zone 1)
Three rock samples were collected from the southern Alberta Sun claimblock centered near the town of Kimball. A grey sandstone boulder which measured 1250 cps (counts per second) radioactivity returned 150 ppm (.018 % U3O8) uranium, 57 ppm vanadium and 22 ppm lead. A grab sample of carbonaceous mudstone from outcrop returned 57 ppm uranium, 52 ppm vanadium and 48 ppm molybdenum. A second grab sample of strongly altered limonitic and carbonaceous mudstone from outcrop returned 92 ppm uranium, 117 ppm vanadium, 31 ppm molybdenum and 53 ppm chromium.
"We very excited about these results since they validate the uranium potential of the Alberta Sun uranium property and confirm our geologic model for southern Alberta," says Lori Walton, President of Firestone Ventures Inc.
All samples were collected under the supervision of Glenn Hartley, P. Geol., Qualified Person, who also reviewed this press release in accordance with regulations under National Instrument 43-101. Laboratory analysis (ICP Uranium Major and Trace Element Package) was conducted by the Saskatchewan Research Council (SRC) of Saskatoon.
Additional information on the Alberta Sun uranium property is available in previous press releases (March 4, March 14, and April 10, 2004) and a fact sheet at www.firestoneventures.com. Firestone Ventures Inc. is a public company with a diverse portfolio of high quality uranium, gold, copper, zinc, molybdenum and gemstone properties.
Lori Walton, President
Toll Free: 1-888-221-5588;
Fax: (780) 428-3476
Trading Symbol: FV:TSX-V
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
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