Toronto, Canada - August 29th,
2005. Waseco Resources Inc. (“WRI”) is
pleased to report that the $100,000
private placement, previously announced
on August 15 th, 2005 , has been
fully subscribed for and is now closed,
subject to final regulatory approvals.
final phase of the field geophysical
programs on the 5 uranium prospects,
covering some 105 square kilometres in
the Quebec Labrador Trough, is in process.
The interpretation of the results of these
multi-facetted geophysical programs, being
carried out by McPhar Geosurveys Ltd.,
by air and on the ground, should be completed
in the next few weeks.
Three of the properties
have been optioned to Uranium Mining
Corporation plc, a company listed on the
AIM Exchange in London . Waseco retains
a 100% ownership in the remaining two prospects.
Each of the properties hosts a number of
known uranium occurrences.
Inc. currently has
27,061,321 common shares issued and outstanding
and will be issuing a further 833,334
common shares pursuant to the private
placement. For further information
about Waseco, please visit the Company’s
web site at www.wasecoresources.com.