Vancouver, BC, October 3, 2016 -- Roughrider Exploration Limited (TSX-V: REL) ("Roughrider") and Kivalliq Energy Corporation ("Kivalliq") today announced the completion of a small field program between September 22 and 29, 2016 in the Jurgen area of the Genesis Property. A total of 187 enzyme leach soil samples, 147 biogeochemical samples and two rock samples were collected along the Jurgen 1 and Jurgen 2 target area trend. Sampling focused on infilling enzyme leach soil samples at Jurgen 1 and expansion of the enzyme leach and biogeochemical grids to cover newly identified gravity low anomalies (see news release August 23, 2016) along the trend to the northeast.
Prospecting work within the sample grid areas using a hand held Radiation Solutions Inc. RS-121 scintillometer identified a granitic-pegmatite boulder that recorded 20,000 counts per second ("cps") natural gamma radiation, in situ. Roughrider cautions that scintillometer readings are not directly related to uranium grade and are only used to indicate radioactive material. Assay results are pending.
Roughrider also announced that, effective September 30, 2016, it has given notice to Kivalliq that Roughrider will not maintain its option on 15 of the 56 claims comprising the Genesis uranium property located in northern Saskatchewan and Manitoba. The Genesis property is now reduced to 41 claims totalling 131,412 hectares. Notification was provided pursuant to the terms of Mining Option Agreement between Roughrider and Kivalliq.
David W. Tupper, P.Geo., V.P. of Exploration and a Qualified Person under National Instrument 43-101 has reviewed and approved the technical information contained in this release.
About Roughrider Exploration Limited
Roughrider's focus is exploring the 131,412 hectare (324728 acre) Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan's Athabasca Basin. Roughrider has the option to earn an 85% interest in Genesis from Kivalliq Energy Corporation.
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements." All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.