Triex Minerals Corporation - River Lake Project

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Athabasca Basin

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The Athabasca Basin, a region located in parts of Saskatchewan and Alberta, is known for excellent geological structures that host a number of world class uranium deposits with extremely high grades, profitable existing operations, available infrastructure, and a favourable permitting and development environment.

Riverlake Project

Latest News

• Triex has executed an option agreement with Raytec Development Corporation for the right to earn up to a 70% interest in two new properties, the Riverlake and Highrock, located at the southern margin of the Athabasca Basin.

Location

The properties are located at the southern margin of the Athabasca Basin on either side of the Key Lake mine road.

Size

The Riverlake property (3 claims, 16,556 ha).

Ownership

Triex has executed an option agreement with Raytec Development Corporation for the right to earn up to a 70% interest in River Lake and Highrock properties. Subject to regulatory approval, Triex will earn an initial 51% joint venture interest in the two properties by paying $25,000, issuing 25,000 common shares (with a restrictive 4 month hold period) and incurring an aggregate of $1,200,000 in staged exploration expenditures by November 24th, 2008. Triex can increase its ownership interest to 70% by incurring an additional $2,400,000 in staged exploration expenditures by November 24th, 2011. Triex will be the operator of the exploration program.

Exploration Budget

Ground geophysical surveying is planned for December-January to better define the location and geometry of airborne conductors, with follow-up first-pass drilling to be carried out during the third quarter of 2008. Near-surface, basement-hosted uranium mineralization is the target on both properties. Budget to be determined.

Geology and Exploration History

The Riverlake property covers a large, circular magnetic low feature with similarities to the Pasfield Lake magnetic anomaly that the Company is currently exploring. An Athabasca Group sandstone outlier is mapped immediately to the east of the magnetic low feature. A V-TEM survey flown in 2007 identified electromagnetic conductors on both the east and west margins of the magnetic low feature.