| With energy demand predicted to increase and | | | | folding can create gaps – known as traps |
| continued serious concern about the | | | | – where oil, natural gas and uranium tend to |
| consequences of burning fossil fuels, experts are | | | | gather. |
| predicting nuclear will remain an important world | | | | Utilizing existing literature on the area, geological |
| energy source for the foreseeable future. | | | | analysis and a radon survey, Cady Johnson, PhD |
| Increasing nuclear energy demand prompted a | | | | author of a Feb. 2007 NI 43-101 technical report |
| uranium spot price high of $138.00/lb this summer, | | | | on the Dolores Anticline project, concluded, “It |
| which then dropped back to the $80 mark and | | | | is clear that there is good potential for |
| has since regained to about $92.00/lb. Many are | | | | undiscovered uranium deposits to exist beneath |
| speculating that the price could remain flat at $90 | | | | the properties considered here. Fractures known |
| pound. Cognizant of the profits available at prices | | | | to have been conduits for mineralizing solutions, |
| like these – the price has tripled in about three | | | | carbon-facies rocks that host all known uranium |
| years – uranium juniors like Atomic Minerals | | | | deposits in the Slick Rock and Lisbon Valley |
| are returning to known uranium zones like Utah | | | | Districts, and paleochannels in the Moss Back |
| and Colorado. | | | | Member of the Chinle Formation are all present or |
| Statistics from the US government’s Energy | | | | judged to be present beneath the subject |
| Information Association’s (EIA) 2007 World | | | | claims.” |
| Energy and Economic Outlook noted that world | | | | Following recommendations from the 43-101 |
| electricity generation from nuclear power is | | | | report, Atomic Minerals began drilling on the first |
| forecasted to increase dramatically from 2,619 | | | | transect of the Dolores Anticline in mid-November |
| billion kilowatt hours in 2004 to 2,972 billion | | | | 2007. Atomic plans a 30,000-foot program at the |
| kilowatt hours in 2030. And the EIA expects | | | | Summit Point and Box Canyon Exploration |
| nuclear power generation to increase through | | | | Projects |
| 2030 around the world, except OECD Europe, | | | | To add to great properties, Atomic Minerals has |
| with the Asian market creating the biggest | | | | attracted some of the best people in the business |
| growth. | | | | to join its team. On December 19, Atomic |
| In addition worldwide nuclear power generation | | | | announced it has appointed John J. Sutherland as a |
| outside of the OECD is expected to increase 4% | | | | director of Atomic Minerals. Sutherland is best |
| year on year, between 2004 and 2030. This | | | | known for his advisory role with growth |
| increased demand, driven by environmental | | | | companies – with particular emphasis on |
| concerns, higher fossil fuel prices and energy | | | | mineral exploration companies – and appears |
| security concerns could send the uranium price | | | | to have a Midas touch. |
| back upward in coming years. | | | | Sutherland serves as a director with Aquiline |
| On the supply side, there is Cameco’s Cigar | | | | Resources (TSX:AQI), the sole owner of the |
| Lake, which was to come online right about now | | | | Navidad Silver-lead deposit, which contains an |
| with an estimated 113 million pounds of the yellow | | | | astounding 453 million ounces silver and 3 billion |
| stuff – until the underground workings flooded. | | | | pounds lead, making it the largest resource of its |
| This major supply of uranium is showing no signs | | | | kind in the world. Aquiline’s recent court |
| of coming back online until at least 2011. | | | | success in procuring sole rights to that property is |
| Some analysts suggest that even that date is | | | | a major coup for both the company and |
| optimistic. Cameron French writing for Reuters on | | | | Sutherland. |
| December 12, 2007 said, “With [the Cigar | | | | Notably, Sutherland was CFO of Arequipa |
| Lake] mine expected one day to supply over 10 | | | | Resources leading up to its acquisition in 1996 by |
| percent of the world's mined uranium, any further | | | | Barrick Gold for $1.1 billion. He also co-founded and |
| [beyond 2011] delays starting production would | | | | acted as Vice President and CFO of Tekion Inc., |
| put upward pressure on uranium spot prices that | | | | which he grew from 4 to 75 employees in the |
| have already hit a record high earlier this | | | | space of less than three years while raising $18 |
| year.” | | | | million in capital. |
| Buoyed by high uranium prices and price | | | | At present, Sutherland is Vice President and Chief |
| predictions, Atomic Minerals (TSX.V: ATL) is | | | | Financial Officer of Goldgroup Resources, |
| putting its experienced team together with | | | | Corporate Secretary of Uracan Resources and a |
| geology in southwestern Colorado that is | | | | director of four other publicly listed companies. |
| associated with some of the largest and most | | | | Atomic’s Vice President of Exploration, |
| prolific uranium resources in US history. | | | | Richard Dorman has extensive history mining for |
| Atomic’s Dolores Anticline project is located in | | | | uranium in Colorado, Wyoming, Utah and Nevada. |
| the Paradox Basin and the Uruvan Belt only 30 | | | | He works with Mark Steen (the eldest son of |
| miles from the famous Lisbon Valley in Utah, and | | | | Charlie Steen) actively exploring in various areas in |
| only 30 miles from Denison Corp’s White | | | | the Lisbon Valley. He has recently attracted the |
| Mesa Mill, the only operating uranium mill in the | | | | attention of James Finch, a US based uranium |
| United States. The Dolores Anticline is in the four | | | | pundit who said of Dorman’s projects in the |
| corners uranium area made famous by Charlie | | | | Lisbon Valley, “the area is right, and it may be |
| Steen who discovered a massive, highly-enriched | | | | ripe for a discovery.” |
| uranium deposit, which became the Mi Vida Mine in | | | | If so, Atomic has all the right ingredients – an |
| the Lisbon Valley, Utah in 1952. Steen’s was | | | | experienced exploration team, financial leadership, |
| the first massive find in the uranium boom of the | | | | connections within the uranium industry and |
| 1950’s prompted by government support of | | | | properties in one of the best-known and most |
| the industry to fuel the Manhattan Project during | | | | prolific regions in the United States. Also attractive |
| World War II. | | | | is Atomic’s tight share structure and a price |
| Uranium was so prolific in the area in the | | | | tag that flirts promisingly with its 52-week low. |
| 1950’s that Moab, Utah earned a reputation | | | | Investors can expect results from the first |
| as the uranium capital of the world. By 1955 the | | | | portion of the drill campaign at the Dolores |
| Colorado Plateau was home to 800 uranium | | | | Anticline to be announced early in 2008. |
| mines. By the end of the boom in 1962 Utah had | | | | This article is intended for information purposes |
| produced over 9 million tonnes of ore before the | | | | only, and is not a recommendation to buy or sell |
| government-boosted boom ended with dwindling | | | | the equities of any company mentioned herein. It |
| demand due to the end of the war. | | | | is based on sources believed to be reliable, but no |
| Picking up where history left off, Atomic’s | | | | warranty as to accuracy is expressed or implied. |
| Dolores Anticline project consists of 1,177 claims in | | | | The opinions expressed in the article are those of |
| the area, totalling 24,280 acres in the Dolores | | | | the author except where statements are |
| Anticline, an asymmetrical northwest trending fold | | | | attributed to individuals other than the author, in |
| in the Paradox Basin. | | | | which case the opinions are those of the individual |
| An anticline is a fold in the layers of rock that | | | | to whom they are attributed. |
| pushes the earth up into a dome shape. The | | | | |