American Uranium Corporation
OTC Bulletin Board : AUUM

American Uranium Corporation

January 17, 2008 12:48 ET

American Uranium Announces Reno Creek 2008 Development Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2008) - American Uranium Corporation (OTCBB:AUUM) is pleased to announce an aggressive development program at its cornerstone Reno Creek deposit in Wyoming. Analysis of historical data (including 1,100 drill holes) acquired from Power Resources convinced American that the exploration phase at Reno Creek is over and a vigorous development program should begin early this year.

The Company's CEO, Dr. Bob Rich, said, "I'm excited to have advanced to the development stage so quickly at Reno Creek, and anticipate moving this property toward future operation as expeditiously as is feasible given the time required of the permitting process."

2008 Planned Work:

- Complete NI 43-101 resource calculation for Reno Creek deposit.

- Obtain WY DEQ permit to drill hydrologic test wells.

- Begin environmental and related work needed for State and Federal permits/licenses.

- Technical wellfield design.

- Preliminary engineering design of ISR facility.

AUUM Advisor Tom Pool added, "Previously completed work on Reno Creek coupled with its relatively shallow depth make this deposit an ideal candidate for near-term development."

Legal Notice regarding Forward Looking Statements

Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include: that the project will be moving into operation as expeditiously as possible; that this deposit is an ideal candidate for near term development; and that we plan to complete a list of work in 2008. It is important to note that the Company's actual outcomes may differ materially from those statements contained in this press release. Factors which may delay or prevent these forward-looking statements from being realized include misinterpretation of data, that we may not be able to raise sufficient funds to complete our payment obligations; that weather, environmental issues, permitting problems, logistical problems or hazards may prevent us from development or from fulfilling our joint venture obligations; that new equipment may not perform as anticipated; that we may not be able to attract or retain key employees or advisors in the current competitive environment; that results that we or others have found in any particular holes are not necessarily indicative of larger areas of our property; we may not be able to reach agreement with Strathmore on aspects of our agreements; and that despite encouraging data there may be no commercially exploitable mineralization on the properties based upon the applicable world mineral prices and the quality or grade of the resource. Readers should refer to the risk disclosures outlined in our periodic reports filed on Edgar with the Securities and Exchange Commission.

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