Uranium Exploration (U3O8): RUSSELL INDUSTRIES.

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Re: Briboy post# 70

Thursday, 06/21/2007 6:23:35 PM

Thursday, June 21, 2007 6:23:35 PM

RUSSELL INDUSTRIES. - American Uranium Mining Company,
(RSDS) -

Russell Industries, Inc.

Russell Industries, Inc. announced that it had acquired
American Uranium Mining Company,
formerly Ithaca Industries, Inc
(ITHI).

The Company owns 68 Uranium Mining Claims located
in the Briger Jack section, San Juan County, Utah.

"This acquisition is synergistic with Russell Industries'
focus on the Uranium market and will increase our holding
company's assets to 322 Uranium mining claims
which will now encompass 6,440 acres in San Juan County,"
said Rick Berman,
who will be elected President and CEO. Ithaca,
a publicly traded company, will continue to have
its stock quoted on the pink sheet market.
Russell Industries
will announce the new symbol and date trading
will begin in a future press release.

About Russell Industries, Inc. (PINKSHEETS: RSDS)

Russell Industries, a Nevada Corporation, was incorporated
in 1997.
Russell Industries is a holding company that will
acquire assets in the energy, mining, healthcare
and financial industries.
The Company owns a majority ownership interest
in 322 Uranium Mining Claims as of June 19, 2007.

Uranium mining, after nearly 40 years of dormancy, is making
a comeback in five western U.S. states, thanks to a reversal
in prices since 2002.

Claims are being staked by people hoping to be bought out
or paid royalties.
Canadian firms are buying old U.S. mines such as those
that dotted the landscape around Moab, Utah.
Seven new mines have opened in five states.

This boom, unlike uranium mining borne from the 1950s nuclear
arms race -
(in the 1950s for some A-bombs etc. and the boom ended
after only a few years - well different this time with
1000 of uranium energy plants needs plenty of U3O8 feed -
for the future) imo. -
To be at the right place -
at the right time.

The resurgence in uranium mining was triggered by
increased global demand for the radioactive mineral.

Five years ago, the spot price for uranium was just
less than $10 per pound; now it's $138.

But the process of restarting the industry is slow.

Copyright 2007 by United Press International

Publication date: 19 June 2007

http://economie.moldova.org/stiri/eng/53591/
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