Dejour Becomes SEC Reporting Issuer; Increases its 2005 Exploration Budget to $2.5 Million and Launches MEGATEM Surveys in Athabasca Basin.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Dejour Enterprises Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DJE) - Robert L. Hodgkinson, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , provides this shareholder update regarding corporate and exploration activities. Located in the Athabasca Basin The Athabasca Basin is a region of Northern Saskatchewan and Alberta Canada that is best known as the world's leading source of uranium. It currently supplies about 30% of the world's uranium. The basin is located just to the south of Lake Athabasca. of Northern Saskatchewan, the Company owns a 100% interest in 15 uranium projects consisting of 870,745 acres (352,386 ha.) representing the 5th largest mineral holding in the Basin. The Basin is recognized as a highly prospective area to explore for uranium. Cameco and Cogema recently announced significant results from two drill holes on properties nearby Dejour's property. Dr. Lloyd Clark, Company director, selected Dejour's property based on proprietary knowledge of the area. Dr. Clark is an internationally recognized authority on Saskatchewan uranium mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. and was previously the Exploration Manager of SMDC SMDC Space and Missile Defense Command (US Army) SMDC Server Management Daughter Card SMDC St. Mary's Duluth Clinic (Duluth, MN) SMDC Shielded Mild Detonating Cord (now Cameco), leading the team responsible for the McArthur River discovery. The Company reports that its registration statement on Form 20-F has been declared effective by the US Securities and Exchange Commission. As a result, the Company is now a reporting issuer in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . US broker dealers may execute trades (where authorized), by accessing the symbol assigned to the Company by the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). : "DJEEF" or by executing trades directly on the TSX-Venture Exchange. As a result of the encouraging results from the Company's GEOTEM survey program earlier this year, the Company also reports its 2005 uranium exploration budget is increased to $2.5 million which Dejour is funding 100%. Mr. Hodgkinson is pleased to report that Fugro Airbourne Surveys has commenced its MEGATEM II electromagnetic survey consisting of 5500 kilometres to be flown over six (6) project areas. Fugro's surveys utilize state of the art equipment and are designed to confirm and extend known conductive horizons and, similar to our GEOTEM surveys conducted earlier this year on the Sand Hill Lake and Meanwell Lake projects, are expected to delineate new conductors not identified by earlier, lower powered equipment. By the end of August 2005 the Company expects it will have concluded 7,500 km. of airborne surveys and completed a programme of boulder lithogeochemical sampling to follow up and extend geochemical anomalies defined by previous operators. This and other work completed is expected to lead to identification of targets to be tested by diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral in early 2006. This comprehensive program has been developed by the Company's Allan McNutt, P. Geo., M.A. Sc., Manager of Mineral Exploration, Keith Metcalfe, B. Sc. (Adv.) P. Eng., P. Geo., Senior Geologist in conjunction with Dr. Clark and will provide a solid base for our 2006 drilling program. About the Athabasca Basin The Athabasca Basin in Northern Saskatchewan, Canada is the largest mineral production camp in North America accounting for 1/3 of the world's annual uranium supply, a figure which is expected to increase significantly by the end of the decade. The Basin hosts the McArthur River mine The McArthur River Uranium Mine is the world's largest high-grade uranium deposit. Since it began operating in 1999, it has also become the world's most productive uranium mine, contributing approximately 20% of total global uranium mining production. The mine produced 18. , the world's largest and highest grade uranium deposit. Exploration and uranium production in the Basin has support from all levels of governments, institutions, and organizations. About Dejour Dejour Enterprises Ltd. is a Canadian energy exploration and development company whose mission is to provide superior shareholder value by acquiring and developing unique and rewarding opportunities within today's burgeoning energy markets. The Company is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. under the symbol (DJE.V). Refer to www.dejour.com for company details or contact Doug Cannaday, President. Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Corporations' periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation does not assume the obligation to update any forward-looking statement. Robert L. Hodgkinson, Chairman & CEO DEJOUR ENTERPRISES LTD. Shares Issued: 25,728,058 Last Close: 7/25/2005 - $0.49 Dejour Enterprises Ltd. (TSX VENTURE:DJE) |
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