| Uranium Hunter Awaits Release of Uganda Aerial Identification |
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Uranium Hunter is positioned well to acquire further prospective
projects for the company's property portfolio. NPK Resources, Uranium
Hunter's joint venture partner in Uganda, has over 30 years of
cumulative Uganda specific geological experience, and is ready to move
forward as soon as the data interpretation is complete.
The aerial survey project is funded by the World Bank, the
African Development Bank, the Government of Uganda, and the Nordic
Development Fund, and is focused on mapping Uganda's natural mineral
wealth. The survey will cover over 600,000 line kilometers and have
used magnetic horizontal radiometric and gamma-ray spectrometric
readings taken from fixed wing aircraft. Approximately 50% of the
flying is now complete, with the balance to be completed over the next
6 months.
Uranium Hunter President Adam Cegielski commented, "The ongoing
aerial survey represents a new era in mineral exploration for Uganda as
a whole. This up to date survey is now opening the door for various
exploration companies to move forward on a wide range of projects in
the country. Uranium Hunter has been positioned in Uganda from an early
stage in this process, and is looking forward to leading the way in
exploration in Uganda."
Uranium Hunter (OTCBB: URHN) is a natural resource corporation
devoted to the exploration and development of deposits of Uranium and
Gold in East Africa. The company website can be found at
www.UraniumHunterCorp.com. Uranium Hunter has entered into a Definitive
Agreement with Trimark Explorations, Ltd ("Trimark"), on behalf of its
wholly owned subsidiary Gambaro Resources, to earn up to a 100%
interest in the Uranium-Au property located in Njombe and Songea
Districts, Tanzania. Uranium Hunter has optioned 170 km 2 property in
southern Tanzania covering sediments of the Karoo sequence which share
common features with rocks of the Colorado Plateau in the western US
that have become prolific producers of Uranium.
Uranium Hunter has entered into another Definitive Agreement
with NPK Resources Ltd. to earn a 75% interest in the Nkoko and Kagadi
uranium properties which contain over 800 km2 located in Kibaale
district, Uganda, called the "Kibaale Project."
The Ugandan government, World Bank, African Development Fund and
the Nordic Development Fund has all co-sponsored a US $42 million
dollar high valued mineral centered aerial survey which began in
January 2007. Results are expected shortly, and will aid in early
exploration work on the properties.
This press release contains forward-looking statements,
particularly as related to, among other things, Uranium Hunter's
business strategy. The words or phrases "would be," "will allow,"
"intends to," "may result," "are expected to," "will continue,"
"anticipates," "expects," "estimate," "project," "indicate," "could,"
"potentially," "should," "believe," "considers" or similar expressions
are intended to identify "forward-looking statements." Actual results
could differ materially from those projected in the forward-looking
statements as a result of a number of risks and uncertainties. Such
forward-looking statements are based on current expectations, involve
known and unknown risks, a reliance on third parties for information,
and other factors that may cause Uranium Hunter's actual results,
performance or achievements, or developments in its industry, to differ
materially from the anticipated results, performance or achievements
expressed or implied by such forward-looking statements. Factors that
could cause actual results to differ materially from anticipated
results include risks, uncertainties and other factors that are
detailed in Uranium Hunter's Quarterly and Annual Reports and other
documents Uranium Hunter files from time-to-time with the Securities
and Exchange Commission. Statements made herein are as of the date of
this press release and should not be relied upon as of any subsequent
date. Uranium Hunter cautions readers not to place undue reliance on
such statements. Uranium Hunter does not undertake, and specifically
disclaims any obligation, to update any forward-looking statements to
reflect occurrences, developments, unanticipated events or
circumstances after the date of such statement. Actual results may
differ materially from Uranium Hunter's expectations and estimates. Distributed by Filing Services Canada and retransmitted by Marketwire Contact: Uranium Hunter Corporation Adam Cegielski President (416) 915-3199 Investor Relations Toll free 1-866-566-0936 Uranium Hunter Awaits Release of Uganda Aerial Identification Survey |
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