Uranium Investing News

Overview

International Enexco is a Canadian based (Vancouver, BC) advanced stage high-grade uranium and copper/silver exploration and development company involved in a strategic uranium alliance that includes interests by Cameco Corp. and Cogema Resources Ltd., the world’s two largest uranium companies.

International Enexco is exploring and developing the Mann Lake Uranium project (with Cameco Corp. as project operator) in the eastern Athabasca Basin, Saskatchewan where uranium ore grades exceed 10 times the world average. The Mann Lake Alliance Project offsets the world’s largest uranium discoveries. A 2006, phase one drill program at Mann Lake encountered high grade uranium intervals averaging 7.12% U3O8 over 0.25m and 5.53m over 0.4m. This success led to a tripling of exploration budgets for 2007. An aggressive drill program is currently underway on International Enexco’s Mann Lake Alliance Project.

In addition to advanced uranium exploration at Mann Lake, International Enexco also has a 100% interest in Contact, a pre-production copper/silver project located in northeast Nevada where copper grades reach 20.8% and silver grades reach 207 g/t. Enexco is in the expansion stage and moving the project to production for late 2009.

Chief Properties

The Mann Lake Uranium Project is a strategic alliance development property operated by Cameco Corp. the world’s largest uranium producer. The Mann Lake alliance consists of Cameco Corp (35%), UEM Inc. (35%) and International Enexco (30%).

(UEM is controlled 50% by Cameco Corp and 50% by Cogema Resources Inc. the world’s two largest uranium companies)

The Mann Lake Project is situated approximately 25 km’s southwest of the largest high-grade uranium mine in the world, McArthur River and 50 km’s northeast of the Key Lake Mine. All weather roads and milling operations link these mines. The Mann Lake Project is also 20 km’s northeast of Cameco’s Millennium Uranium Deposit.

In 2006 two drill holes tested a 6,000 metre long geophysics UEM conductor at Mann Lake. One hole encountered high-grade (7.12% & 5.53%) basement hosted uranium within 12 metres of the unconformity at approximately 500 metres depth. The 2007 exploration budget was then tripled from the previous year and includes an eight hole, 5,200 metre drill program which is currently in progress.

A second significant UEM conductor was discovered 1,300 metres west of the high-grade discovery zone. The Mann Lake Alliance will drill test this area in subsequent programs. Cameco Corp will remain as project operator.

Management

G. Arnold Armstrong — Director, CEO and President
Mr. Armstrong holds a bachelor of law and was called to the British Columbia bar in 1950 and continues to practice corporate and commercial law.

Mr. Armstrong has been an officer and director of diverse reporting issuers since 1964, and is presently an officer and director of the following issuers: Ivory Oils & Minerals Inc., Red Hill Energy Inc., Doublestar Resources Ltd., and International Enexco Ltd. Mr Armstrong is also a director officer and major shareholder of View Mont Estates ltd, Panorama Origins Inc, Armada Investments ltd, and Coral investments ltd. All of which are engaged in land development in British Columbia and elsewhere.

Mr Armstrong is the past chairman of and Chief Executive Officer of SKN Resources (now Silvercorp Metals Inc.); The past president of Ivory Oil and Minerals Inc. (now Ivory energy Inc.); Chairman and Chief Executive officer and last president of UGL Enterprises (now Red Hill Energy Inc.); all of which are British Columbia Mining corporations.

William W. Willoughby, PhD, PE — Manager of engineering and mine development
Mr Willoughby holds a PhD mining engineer an MS geological engineering and BS geological engineering from the University of Idaho. With 25 years experience, the last 17 with Teck Cominco as a senior mine engineer; Mr Willoughby adds extensive experience to International Enexco in underground and open pit mining, base and precious metals, industrial minerals and coal; as well as being proficient in economic evaluations, modelling in Minesite, Autocad. Excel, MS project, underground ventilation and mine surveying.

Mel Klohn, LPGeo, BSc, MSc Geology — Director
Mel Klohn is a Washington State Licensed Geologist who is also a member of the SEG (Society of Economic Geologists), the SME (Society for Mining, Metallurgy and Exploration) and the CIM (Canadian Institute of Mining, Metallurgy and Petroleum), and is an independent QP (Qualified Person) as defined by Canadian National Instrument 43-101. Mr. Klohn’s Work experience includes 10 years as Project Manager and Exploration, Vice President for Yamana Gold Inc, and 25 years for Exxon. At Exxon he worked in a variety of positions including Senior Research Specialist, Senior Staff Geologist and Senior Exploration Geologist. Mr. Klohn currently serves as a senior-level consultant for various mid-tier and junior company clients for gold, polymetallic, and energy fuel deposits throughout the world including North, Central, and South America and Asia.

Art Small, B.Sc. Geo — Chief Project Manager
Mr. Small holds a B.SC. In Geology from Colorado State University, and has done extensive work with Exxon minerals Co. and Teck-Cominco. In his 30+ years in the Mining industry of which 15 years exp was in precious metals exploration and pre- development; Mr. Small has performed geologic work doing drill project supervision, geophysical programs, surveying, claim staking, and property evaluation in Copper, Uranium and Gold. His vast experience has taken Mr. Small from Nevada to Mexico, Chile and Argentina.

Dan Frederickson — Director and Chief Financial Officer
Mr. Frederickson holds a Bachelor of Business Administration from Simon Fraser University and is a Chartered Accountant with the ICABC, a Certified Public Accountant through the University of Illinois and a Chartered Financial Analyst with CFAI. Mr. Frederickson has 8 years experience in public accounting and controllership, and has served as a board member and officer for several Canadian companies, both private and public; including Red Hill Energy and Ivory Energy Inc. Mr. Frederickson is an independent contractor of Enexco providing management services. Mr. Frederickson has been a financial controller with Armada Investments Ltd. since 1999, and has acted as controller and Chief Financial Officer of Enexco since 1999.

Paul McKenzie — Director
Mr. McKenzie has over 15 years experience working with Canadian resource companies and with Canadian brokerage firms. He has a successful history of acquiring, financing and developing international mineral and energy projects in North and South America and Asia. Mr. McKenzie is also a Director of Red Hill Energy Which is currently developing two world class Coal deposits in Mongolia.

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