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HORNBY BAY EXPLORATION LIMITED
October 15, 2004 - Symbol: HBE (TSXV) COMPLETION OF THE HORNBY BAY 2004 EXPLORATION PROGRAM Hornby Bay Exploration Limited (TSXV: HBE) announces the completion of its $3.3 million 2004 Nunavut uranium exploration program. The 2004 exploration program included 3,057.7 line kilometres of helicopter-borne RESOLVE EM/mag surveying; 168.1 line kilometres of ground UTEM/mag surveying; prospecting of all claims underlain by the Hornby Bay sandstone formation; and 11 diamond drill holes for a total of 1965 meters.Six new uranium occurrences were discovered in the Hornby Bay sandstone on the Coppermine River claim group during the prospecting/lithogeochemical program. Currently, Loring Laboratories Ltd in Calgary is analyzing the 269 drill core samples, 229 soil samples, 1023 rock samples and 228 till samples collected during the 2004 exploration season. The company is planning an aggressive follow-up drill program for its Nunavut Coppermine River uranium claim group to commence April 2005. Hornby Bay Exploration Limited based in Toronto was incorporated in 1996 as a uranium exploration company. The company has 100% ownership of 214 mineral claims covering 210,600 hectares (520,400 acres) in the Hornby Bay Basin located in northwest Nunavut.
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