Show Contin Continues es Successful I Uranium Mining Operations 1 Resources Inc Ine completed tom coma a profitable year yeat and has launched a promising venture In Inthe Inthe inthe the Gas Gu Hills area of Wyoming Ralph W W. Neyman president reported reported re te ported potted at the company company's first annual meeting held Friday in Reno Nevada Directors were re elected In tn addition J. J B. B Haffner of ot Spokane Spokane I kane Washington was elected to the board Other board mem mem- bets Include Mr Ma Neyman Lester S. S of ot Kellogg Idaho W W. it U. Gibson C. C Allen Elggren and W D D. Jr all of Lake City Present officers were elected re-elected by the board following the annual meeting including Mr Neyman as president Mr Harrison Harris Harri Harrisson son on as vice president and Mr Elggren as secretary Mr Neyman reported to the meeting that cash balance balance bal balk ance ante after payment of ot a five cent share a-share dividend on August 5 5 I was The Radon mine Is continuing to o operate erate at a substantial profit prof to Mr Neyman said The mine shipped a total of tons of ot high grade uranium ore oreIn oreIn orein In May and June This resulted In profit to of after operating costs and before taxes Mr Neyman reported that Ra Ra- venture In the Gas Hills area of Wyoming now being operated operated op op- as a Joint venture with parent company Federal Federal Fed Fed- eral eras Uranium Corporation was one of the most promising operations operations opera opera- the firm has undertaken He reported that drilling to date on the Sagebrush No 1 I claim Indicated by radiometric testing an ore body of approximately tons averaging uranIum uranium uran uran- ium lum oxide He Ire estimated the value of the ore In place at about Ore on six other groups of claims has been Indicated Indicated indicated indi Indi- either by drilling or adjacent boundary discoveries by neighboring neighbor neighbor- ing companies in the area Mr Neyman said He added that seven seven seven sev sev- en drill rigs are In the area for and Federal and will drill out these promising claims and Federal are equal partners in the venture The Fed- Fed I eral oral operations are ate on onland onland on land held by three thre other com corn panics panle Federal serve as operator and first recover expenditures expenditures expenditures thereafter Federal Federal Had share profits profit with the companies com corn panics holding title to the land Approximately 60 per cent of the outstanding shares was wu represented |