Stocks to Watch: Bancroft Uranium Inc (OTC BB: BCFT), Striker Oil & Gas, Inc. (OTC BB: SOIS), Torrent Energy Corporation (OTC BB:TREN) , Seaway Valley Capital Corporation (OTC BB:SWVC) , Novori Inc (OTC BB:NOVO)
Featured Stock: Bancroft Uranium Inc
(OTC BB: BCFT)
Current Price (0.86)
http://www.smallcapstockanalyst.com/
Bancroft Announces Further Drilling Results at Monmouth Uranium Project
Scottsdale AZ, June 4, 2008 ---- Bancroft Uranium Inc. (OTCBB: BCFT) (“Bancroft” or the “Company”) is pleased to announce further drilling results from the Spring 2008 surface drill program conducted at the Monmouth Uranium Project, near Bancroft Ontario. The Company today is releasing assay results from drill holes 08-16 through 08-28 as outlined below.
The 2008 Exploration Phase 1 drill program commenced on February 25th and was designed to focus on areas in and around the historical drill results from the 1969 program bringing it into modern N.I. Policy 43-101 compliance, a recognized world mining standard. The drilling is also designed to extend the known strike length of the skarn which hosts the uranium mineralization with the aim of expanding the current estimated 1,800,000 lbs U3O8 potential at Monmouth.
This second series of drilling assays and intervals are from holes drilled over an additional 200 feet of strike length exposure of the host rock skarn (altered limestone) as follow up to results released on May 29th from the initial 300 feet. In total, the combined results cover drilling conducted over 500 feet of strike on the deposit. The historical drilling in 1969 covered a zone approximately 1,500 feet in length.
Assays of 0.747lb/51.4’ and 1.134lb/23.9’ in holes 08-24 and 08-25 represent the best results from this series of holes. Significant results are as follows. Assays are noted as lb representing lbs/ton U3O8 over feet:
08-16 - 0.309 lb/ 29.6’ from 49.6 to 79.2 feet,
08-17- 0.337lb/10.9’ from 35.2 to 46.1 feet and 0.469lb/2.4’ from 92.1 to 94.5 feet
08-18- 0.316lb/5.2’ from 15.1 to 20.3 feet; 0.125lb/4.6’ from 37.1 to 41.7 feet and 0.467lb/8.0’ from 55.0 to 63.0 feet
08-19- 0.397lb/49.2’ from 5.2 to 54.4 feet including 0.365lb/9.0’ from 5.2 to 14.2 feet and 0.646lb/10.4’ from 18.9 to 29.3 feet and 0.565lb/14.5’ from 34.0 to 48.5 feet. Also 0.595lb/17.3’ from 71.0 to 88.3 feet
08-22 - 0.717lb/18.5’ from 73.0 to 91.5 feet
08-23 - 0.401lb/9.8’ from 39.4 to 49.2 feet; 0.374lb/7.7’ from 55.4 to 63.1 feet; 0.794lb/33.3’ from 81.6 to 114.9 feet and 0.486lb/3.9’ from 125.7 to 129.6 feet
08-24 - 0.495lb/19.8’ from 56.0 to 75.8 feet and 0.747lb/51.4’ from 104.9 to 156.3 feet
08-25 - 1.134lb/23.9’ from 103.7 to 127.6 feet
08-25A - 0.420lb/55.1’ from 69.0 to 124.1 feet including 0.363lb/26.7’ from 73.9 to 100.6 feet and 0.656lb/19.2’ from 104.9 to 124.1 feet
08-26 - 0.389lb/31.9’ from 46.8 to 78.7 feet; 0.526lb/5.0’ from 119.0 to 124.0 feet and 0.507lb/17.1’ from 143.4 to 160.5 feet and 0.369lb/21.1’ from 188.7 to 209.8 feet
08-26A - 0.633lb/36.7’ from 135.9 to 172.6 feet including 0.788lb/18.1’ from 135.9 to 154.0 feet and 0.683lb/13.0’ from 159.6 to 172.6 feet.
08-27 - 5.377lb/2.1’ from 38.2 to 40.3 feet and 0.611lb/10.2’ from 66.2 to 76.4 feet
08-28 - 0.643lb/5.1’ from 52.5 to 57.6 feet; 0.352lb/14.2’ from 124.0 to 138.2 feet including 0.304lb/5.0’ from 124.0 to 129.0 feet and 0.521lb/6.5’ from131.7 to 138.2 feet; 0.525lb/26.3’ from 168.0 to 194.3 feet including 1.618lb/3.3’ from 172.8 to 176.1 feet and 0.578lb/13.7’ from 180.6 to 194.3 feet.
To date, Company engineers have verified the location, thickness and flat lying geometry of the uranium bearing skarn system intersected in the historical drilling. U3O8 assays have been returned from both uraninite bearing bright orange-colored calcite alteration in the skarn and from several pegmatite bodies in and adjacent to the skarn package. Initial assay results from the skarn rocks appear to validate the historical data. The geological modeling of the deposit is now coming into focus with the alteration zone rock package dipping at a fairly consistent 25-30 degrees, amenable to a potential open pit scenario.
All of Bancroft Uranium’s exploration programs are designed and supervised by Qualified Persons (“QP”) under the N.I. Policy 43-101, who ensure that programs are carried out using current industry “Best Practices”. The spring 2008 drilling program was supervised by Murray McGill P.Geo (QP). The NQ size core was logged by Mr. McGill and split on-site. Half core samples were analyzed using standard Delayed Neutron Counting (DNC) methods by Activation Laboratories in Ancaster, Ontario. Activation Laboratories employs rigorous in-house QA/QC procedures in the DNC process.
Bancroft will release a third series of drill results shortly.
For inquiries from the public and media concerning the Monmouth Uranium Project please contact Greenspirit Strategies at 1-877-54 GREEN or 1-877-544-7336. For shareholder and investor information please contact investor relations at 1-866-860-2995
ABOUT BANCROFT URANIUM INC. (OTCBB: BCFT)
Bancroft Uranium Inc. is an exploration Company which intends to develop Uranium assets in North America. Bancroft’s initial asset, the Monmouth Uranium Project is envisioned to have the potential of a low cost, open pit uranium producer located close to infrastructure and end product buyers.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our uranium properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
ON BEHALF OF THE BOARD
Bancroft Uranium Inc.
- - - - - - - - - - - - - - - - - -
P. L. Hammond, C.A.
President and Chief Executive Officer
To find out more about Bancroft Uranium Inc. (OTCBB: BCFT), visit our website at http://www.bancrofturanium.com/.
Public and Media Information: 1-877-544-7336
Shareholder and Investor Information: 1-866-860-2995
Source: Bancroft Uranium Inc.
For an in-depth analyst report, please visit : http://www.smallcapstockanalyst.com/
Striker Oil & Gas, Inc.
(OTC BB: SOIS)
Current Price (1.22)
www.SmallCapStockAnalyst.com
HOUSTON-June 3--Striker Oil & Gas, Inc. (OTCBB: SOIS - News) announced today that it has successfully recompleted the LeJeune No. 1 well in its North Edna prospect located in Jefferson Davis Parish, Louisiana. The well came online last week and is currently producing 137 gross barrels of oil per day to the 100% working interest. The decision to move uphole to perforate what could be the best zone in the well was made necessary when the last zone ceased to flow. Based on the current flowing oil rate of the well, payout of the recompletion should occur in less than 15 days. Using current prices and the evaluation of this zone by Striker’s third party reservoir engineering firm, approximately $1,000,000 in net revenue should be generated to Striker’s interest from this single interval. The North Edna Field has produced over 10 Bcf of gas and 700,000 barrels of oil. Striker has a 40% working interest before payout and a 29.6% net revenue interest before payout in this prospect. Striker Oil & Gas, Inc. is primarily engaged in the acquisition, development, exploration and production of crude oil and natural gas. The company acquires working interests in producing properties with developmental potential and properties that offer relatively low risk exploration potential for both crude oil and natural gas. Striker Oil & Gas operates onshore along the Gulf Coast of Texas and Louisiana as well as East Texas and Mississippi. The Company strives to enhance asset value through application of current production technology while keeping costs low. The company’s goal is to achieve a high return on its investment and grow shareholder value.
Torrent Energy Corporation
(OTC BB:TREN)
Current Price (0.07)
www.SmallCapStockAnalyst.com
PORTLAND, OR----Jun 3, 2008 -- Torrent Energy Corporation (OTC BB:TREN.OB - News) today announced it has commenced Chapter 11 Bankruptcy proceedings by filing a voluntary petition for reorganization under the Bankruptcy Code with the United States Bankruptcy Court for the District of Oregon. Each of Torrent's wholly owned subsidiaries, Methane Energy Corp. and Cascadia Energy Corp., also commenced a case under Chapter 11 of the Bankruptcy Code on the same day. Torrent and its subsidiaries continue to operate their businesses and manage their properties as debtors-in-possession pursuant to Sections 1107(a) and 1108 of the Bankruptcy Code. Torrent Energy Corporation is an exploration company focusing on developing non-conventional natural gas reserves in the Northwestern United States. The Company's primary objective is to create value for stakeholders by applying strong technical expertise to projects. The current focus of the Company's Oregon subsidiary, Methane Energy Corp., is on the exploration of the Coos Bay Basin project in southwestern Oregon where the Company currently has a land portfolio that includes over 118,000 acres of prospective land. For more information please visit www.torrentenergy.com.
Seaway Valley Capital Corporation
(OTC BB:SWVC)
Current Price (0.002)
www.SmallCapStockAnalyst.com
OGDENSBURG, N.Y.-June 3--Seaway Valley Capital Corporation (OTC Bulletin Board: SWVC - News) today announced that its wholly owned subsidiary, Patrick Hackett Hardware Company (“Hackett’s”), is in discussions with representatives for two new possible Hackett’s stores – both outside the seaway valley corridor. If either lease is consummated, the stores would represent Hackett’s initial push outside the region. Both potential locations, which remain confidential during discussions, would represent large store formats of between 20,000 and 40,000 square foot venues. Seaway Valley Capital Corporation was formed in 2002 and makes equity, equity-related, and debt investments in companies that require expansion capital and in companies pursuing acquisition strategies. Seaway also seeks investments in leveraged buyouts and restructurings. Seaway will consider investment opportunities in a number of different industries, including retail, restaurants, media, business services, and manufacturing, and Seaway will also consider select technology investments.
Novori Inc
(OTC BB:NOVO)
Current Price (0.24)
www.SmallCapStockAnalyst.com
BELLINGHAM, WA and SHERMAN OAKS, CA and LAS VEGAS, NV----Jun 3, 2008 -- Novori Inc. (OTC BB:NOVO.OB - News) a leading online interactive retailer of fine diamond engagement rings and jewelry -- is pleased to announce, pursuant to the upcoming merger with Zalemark Inc., that the new Badgley Mischka line unveiled at the Couture Show in Las Vegas, NV was very well received with open arms by all. Founded in 2004, Novori is a leading online interactive retailer of diamond engagement rings and fine jewellery. Novori launched their website in 2005 and has built a well respected brand by providing consumers with superior customer service and a better way to buy diamond jewellery. Novori prides itself on the highest quality standards in the industry and provides consumers with unique online tools that allow them to explore, build and purchase their own custom made diamond rings in a way not previously offered by traditional retailers. The Novori website offers thousands of independently certified diamonds, settings and fine jewellery at prices significantly below traditional retail. Novori's shares are traded on the over the counter bulletin board (OTCBB).
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