ESO Uranium Corp.

ESO Uranium Corp.

January 10, 2007 17:58 ET

ESO Uranium Corp.: Work Starts on East Athabasca Basin Properties

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2007) - ESO Uranium Corp. ("ESO" or "the Company") (TSX VENTURE:ESO)(FWB:E2G) is pleased to announce the engagement of MPH Consulting Ltd. (MPH) as the core contractor for its work programmes covering the Cree, Hatchet and Peterson properties it acquired in 2005 in the East Athabasca Basin. The Company holds 58 mineral dispositions in this part of its Athabasca holdings with a total area of approximately 624,722 acres (252,816 hectares) in 4 noncontiguous blocks.

The properties adjoin a prospective belt that produces 28% of current world uranium production of 108 million lbs U3O8. The Athabasca uranium deposits have grades substantially higher than world average; the two dozen or so known deposits within the Basin have average grades of over 3% U3O8. The two largest deposits, Cigar Lake and McArthur River have average grades of 20% and 24% respectively. For context, 1% U3O8 is equivalent to 20 pounds of contained U3O8; the current spot price for U3O8 is reported in Ux Weekly as US$72 per pound which translates into a gross value of US$144 for 0.1% U3O8 or US$1440 for 1% U3O8 for each ton of mineralization.

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The Athabasca Basin uranium deposits are generally of unconformity type with uranium mineralization occurring within elongate bodies at or close to the unconformable contact between the upper Athabasca sandstones and basal metasedimentary rocks. Uranium mineralization may extend above and below the unconformity and is often associated with characteristic alteration plumes around the mineralization.

The area was selected by ESO because of its proximity to the important producer belt and the occurrence of a number of uranium showings associated with structures or electrical conductors located on or on strike with the properties. Assessment work compilation of the area carried out by ESO indicates several targets for further exploration.

The northern sector of the Cree properties was flown in 2006 for the Company with Megatem II and airborne magnetic surveys by Fugro Geophysics and several additional areas of interest have been identified. MPH has started work continuing the development of a full data base from the earlier work carried out in the area. MPH brings to the project a considerable corporate history from its own extensive experience in the basin during the surge of exploration carried out there during the 1970's uranium price rise.

Further airborne surveys are planned for the southern blocks of the Cree properties, to be carried out with the longer daylight hours after January, 2007. Ground work, radiometric surveys and detailed geophysical surveys will be used to follow up over areas of special interest as indicated by the airborne surveys and drill targets will be selected for a fall/winter drilling campaign in 2007.

About ESO Uranium Corp.

ESO Uranium Corp., a Vancouver based mineral resource company exploring for uranium in the Athabasca Basin in Saskatchewan and is developing gold resources on its 100% owned Mikwam gold property in the Casa Berardi deformation zone in Ontario.

Benjamin Ainsworth, PEng, is the Qualified Person responsible for this news release.

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

B.Ainsworth, PEng BC, Vice President, Exploration

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. The historical information contained in this news release was obtained from reports prepared prior to the implementation of NI 43-101. Though the Company has no reason to doubt the accuracy of this information, readers should use caution when considering such information and should not place undue influence upon such.

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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