ESO Uranium Corp.

ESO Uranium Corp.

August 05, 2008 14:35 ET

ESO Update for Athabasca Basin Uranium Properties, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2008) - ESO Uranium Corp. (TSX VENTURE:ESO)(FRANKFURT:E2G) ("ESO") is pleased to provide an update on exploration at Athabasca Basin properties, Saskatchewan. All these properties are within the Athabasca Basin of northern Saskatchewan, the location of several of the highest grade uranium deposits in the world and source of almost 30% per cent of the world's mined uranium production. The location of the properties are shown on maps located at Processing and interpretation of data from the airborne and ground surveys has identified areas for further drill testing in the Hook Property, in the south central part of the Athabasca Basin, the Cree Property on the east side of the Athabasca Basin, and the Hatchett Lake claims on the northeast edge of the Athabasca Basin.

ESO / Hathor Exploration Ltd (Hathor) (TSX:HAT) 50%-50% Joint Venture Property, Cluff Lake

The property adjoins the northern boundary of Areva Resources Canada Inc's (Areva) Cluff property. The now depleted uranium deposits at Areva's Cluff property produced sixty two million pounds of U3O8 between 1980 and 2002 from several open pit and shallow underground mines including: Janine, Claude, Dominique-Peter and the D deposits. The Shea Creek uranium deposit now being explored by Areva and UEX is twenty kilometres to the south of the property.

A program of radon in soil geochemical surveying, geological evaluation and 4,796 metres of core drilling in thirty four holes of a planned 100 hole programme was completed in November 2007 at the ESO / Hathor joint venture property in the Cluff area of the western Athabasca basin. The drill programme was stopped to meet other priorities of the joint venture partners.

Drilling tested for uranium mineralization associated with radon in soil anomalies and electromagnetic conductors near the prospective contact between garnetiferous, partly graphitic pelitic gneisses and quartzo-feldpathic gneisses extending northerly from the uranium deposits previously mined at Cluff.

Anomalous radon zones in soil were delineated in three areas and drilling intersected strongly anomalous radioactivity in four holes within hematite and carbonate altered quartzo-feldspathic gneisses within one of these areas.

Cree Property

The wholly owned Cree property is within the western margin of the highly prospective Wollaston Trend and straddles the Cable Bay Shear and prospective belts of northeasterly striking magnetic lows and associated conductors.

Exploration at the Cree Property is being supervised by MPH Consulting Ltd, Toronto, a consulting company with many years uranium exploration expertise.

Exploration carried out for ESO has identified at least six areas containing Athabasca sandstone boulders with strongly anomalous boron and illite clay content. This type of alteration is often associated with Athabasca unconformity type uranium deposits. Three areas with anomalous radon were located coincident with this alteration within prospective magnetic lows with associated conductors that run parallel to the Cable Bay Shear system. This sector of the Cable Bay Shear is five kilometers north-northeasterly of historic drill hole CR-08 which intersected anomalous uranium values close to the unconformity.

Hatchett Lake Claims

This wholly owned property overlies the unconformity between Athabasca Formation sandstone and basement rocks and in part overlies a northwesterly striking magnetic low with a substantial amount of drilling to the northwest of the property by previous operators. Exploration in 2007 by ESO included Athabasca formation boulder sampling, soil radon sampling and airborne radiometric and magnetic surveying.

A significant radon in soil anomaly was identified that warrants follow-up exploration.

Hook Property

The wholly owned Hook Property is near the southern margin of the western Athabasca Basin. The eastern half of the property overlies three major groups of both Megatem and VTEM conductors within favourable magnetic lows.

Within the northeasterly conductive trend, the Derkson Trend, a hole drilled by a previous operator 10 kilometres south of the ESO Hook property boundary, intersected 0.24 per cent U3O8 over 2.5 metres in basement rocks three metres below the Athabasca Formation unconformity.

ESO drilling tested selected Megatem and VTEM conductors on the Derkson and the Coppin trends in three holes for a total of 1,989 metres. Drill hole EHK-002 tested a break in a narrow Megatem conductor and intersected a fault containing 3,382 parts per million boron and anomalous lead values over 0.30 metres within Athabasca Formation sandstone. Further drilling is required to test the intersection of this fault with the Athabasca Formation sandstone - basement unconformity. A number of targets remain to be tested within the Hook property.

Analytical results at Cree and Hook were performed by SRC Geoanalytical Laboratory, Saskatoon; drill core analyses at the ESO / Hathor Cluff property were performed by Loring Laboratories, Calgary.

The technical data in this release was prepared by Rob Beckett, P.Geo. Chief Geologist for ESO, a qualified person as defined by National Instrument 43-101 and has been reviewed by Mr. Ben Ainsworth P.Eng, Vice President, Exploration for ESO, a qualified person as defined by National Instrument 43-101.

ESO is a Canadian junior mineral exploration company focused on uranium exploration in the premier world uranium production district of the Athabasca Basin, Saskatchewan. For further information about the company's exploration properties please visit our website at

On behalf of the Board of Directors of ESO Uranium Corp.

Ben Ainsworth, Vice President, Exploration

Please refer to the ESO Uranium website for further and updated information.

Statements contained in this news release that are not historical facts are forward looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission.

The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release which has been prepared by management.

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