Golden Bridge Mining Corporation Announces Acquisition Of Athabasca Basin Uranium Property

Golden Bridge Mining Corporation ("Golden Bridge" or "the Company") (TSX-V: GBM) is pleased to announce the Company has acquired by staking a total of 3,656.82 hectares (9,036.20 acres) of claims prospective for uranium mineralization in the prolificAthabasca Basin, located in Saskatchewan, Canada. This property is located in the vicinity of the recent discovery near Patterson Lake in Northern Saskatchewan by Alpha Minerals Inc. and Fission Energy Corp.

The Athabasca Basin regional magnetic data (Source: Geological Survey of Canada (GSC) Open Files 6817, Release date 15 June 2011) shows a similar signature of the Golden Bridge property to that of the Alpha Minerals Inc. recent discovery property, Patterson Lake South. The 3D geological model of Athabasca uranium generated by the Saskatchewan Ministry of the Economy "3-D File 2012-1" shows that the Golden Bridge property is located in a favourable geological structure zone.

In Canada, the Athabasca Basin is a region in the Canadian Shield and is located across the northern Saskatchewan and Alberta border. It is best known as the world's leading source of high grade uranium and currently supplies approximately 15% of the world's uranium consumption (World Nuclear Association). The basin is west of Wollaston Lake and south of Lake Athabasca, and covers about 100,000 sq. km mostly in Saskatchewan with a small portion in Alberta.  The basin is mainly sandstone from 100 to 1,000 metres in depth and uranium is found mostly at the base of the sandstone where it reaches the basement (Source: investcom.com-uranium-Athabasca).

The first uranium mine in this region was the Rabbit Lake Mine, which is the longest operating uranium production facility and the second largest uranium milling facility in the western world. Another significant discovery of uranium took place in Key Lake in 1975, which produced over 95,000 tonnes of U3O8. Since 1968, over 700,000 tonnes of U308 have been produced in this region.

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