Triex Minerals Corporation - Kendall River Property

Hornby Bay Basin Mountain Lake Project Sandy Creek Property Dismal Lake Project Kendall River Property Athabasca Basin Pasfield Lake Project Stony Road Project Mann Lake Project West Carswell Project Wollaston NE Project Old Fort Bay Project River Lake Project Highrock Project Alaska Boulder Creek Project

Hornby Bay Basin

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Mountain Lake Targets

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Triex Minerals Corp. operates five key projects in the Paleoproterozoic Hornby Bay Basin, which straddles the Nunavut/NWT border in northern Canada. Total area of the properties is more than 223,000 hectares. These properties, Mountain Lake, Dismal Lakes, West Dismal, Kendall River and Leith Peninsula, are owned 50:50 with Pitchstone Exploration Ltd. The Mountain Lake uranium deposit, the only defined uranium resource in the basin, anchors the holdings.

The deposit is 8.2 million pounds U3O8 (3,700 tonnes U3O8) inferred resource in 1.6 million tonnes, with an average grade of 0.23 percent U3O8 using a cut-off grade of 0.10 percent U3O8 and a minimum thickness of 1.0 metre (CIM guidelines and definitions)

Latest News

September 17, 2007 - 2007 Exploration Program Completed
October 10, 2006 Targets Developed During 2006 Surface Program
August 2, 2006 Key Hornby Bay Basin Target Acquired

Location

The Kendall River property covers a significant uranium boulder train located 15 km southeast of the Mountain Lake uranium deposit. The Mountain Lake uranium deposit is situated approximately 550 km north of Yellowknife, NWT, and 100 km southwest of the coastal community of Kugluktuk (formerly Coppermine), Nunavut.

Size

The property consists of four contiguous claims covering 4,180 ha (10,320 acres).

Ownership

The 50/50 Joint Venture with Pitchstone Exploration Ltd. has executed an agreement to purchase 100% of the Kendall River Property from Aramis Ventures Inc., a private Alberta corporation, by making a cash payment of $25,000 and incurring exploration expenditures of $50,000. Aramis will retain a 5% NSR royalty in all metals and minerals produced from the property, with the Joint Venture having the right to purchase one half the retained royalty for $2,500,000.

2007 Exploration Program

The total cost of the 2007exploration program carried out on the collective Hornby Bay Basin projects from May to September 2007, was approximately $2.4 million. Work on the Kendall River property included:

Boulder prospecting and collection of 254 soil samples
An Ohm Mapper survey totalling 165 line-kilometres

2006 Exploration Summary

The total cost of the four week surface exploration program carried out on the collective Hornby Bay Basin projects in August, 2006, was $441,230. Work at Kendall River included:

388 line-km of airborne radiometrics (200m line spacing)
124 line-km of ground magnetics (200m spaced lines x 25m spaced stations)
1200 soil samples (200m spaced lines x 50m spaced stations)

Data integration and interpretation will be complete by the end of 2006.

Geology and Exploration History

The Triex -- Pitchstone Joint Venture currently controls all three of the key uranium anomalies identified in the northern part of the Hornby Bay Basin during the initial phase of reconnaissance exploration, which began in 1969. Those targets are: Mountain Lake (which includes the Mountain Lake Deposit), Dismal Lakes, and, Kendall River.

Detailed ground radiometric prospecting was conducted in the Kendall River area in 1981 (Pawliuk and Trigg, 1981). One hundred and forty five radioactive sandstone boulders measuring 100 up to 8,000 cps were discovered. The boulders form a linear train 3,400 metres long and up to 230 metres wide, that trends 240 degrees. The boulders are angular to subangular, fine-grained, and silica indurated. A total of 27 radioactive occurrences were found within fractured pebbly sandstone outcrop. This mineralization is associated with northeasterly trending fractures.

The source of the boulders is interpreted to be Dismal Lakes Group sandstone (Unit 11), the same rock unit that hosts the Mountain Lake deposit. The bedrock source is interpreted to be less than 7 km to the northeast. Glacial striations on outcrops indicate ice movement along a line of azimuth of 240 degrees, as well as a line of azimuth of 355 degrees.