Waseco Resources Inc - News Release
|Waseco Resources Inc||"YRI" TSX-V|
|April 29, 2004||News Release|
|Toronto, Ontario- April 29th, 2004 - Waseco
Resources Inc. ("WRI"-TSX-V) is pleased
to provide an update on its ongoing exploration program
at the Attawapiskat diamond property in James Bay
Lowlands, in northern Ontario.
|Following up on last year's airborne geophysical
program, the Company retained the services of Exsics
Exploration Limited of Timmins, Ontario to conduct
a series of field magnetic surveys over target areas
identified from the air as well as certain specific
areas of interest, such as the perimeter of De Beer's
Uniform Pipe claims, as well as the south-western
quadrant, adjacent to the recently announced kimberlite
pipe discovery by Spider Resources and KWG.
|As a result of this detailed work, the
drilling program has been modified to include a new
target identified to the north of the Uniform Pipe.
This target appears to exhibit many of the same attributes
as the Uniform Pipe and is on trend with the Uniform
Pipe and the Victor Pipe, currently being advanced
towards production by De Beers.
|The drilling program is on hold pending
the spring break-up. The program is expected to resume
in mid-May, when the drill crew and supplies can come
in by float plane.
|Waseco has an option to earn up to a 40%
interest in the 2,440 acre property together with
a right of first refusal to earn an additional 9%
interest from Dialex Minerals Inc. (DLXM-OTC-BB).
There are currently 25,741,321 shares issued and outstanding.
Further corporate information can be found on the
Company's web site at www.wasecoresources.com.
|For further information, please contact:|