ESO Uranium Corp.

ESO Uranium Corp.

May 17, 2006 10:14 ET

ESO Uranium Cuts 6.32 g/t Gold Over 5.6 Meters at Mikwam

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) - ESO Uranium Corp. ("ESO" or "the Company") (TSX VENTURE:ESO) announces that drill hole# 07 on its Mikwam project, sited 25 meters east of drill hole# 03 which was reported in the Companies April 24th, 2006 news release, has returned gold grades in 2 intervals over substantial intersections of mineralization. The 100% owned Mikwam claims are located along the Casa Berardi Deformation Zone in northeastern Ontario. Seven holes were completed for a total length of 2,437 meters (8,042 feet) in the first phase of work. Assays have been received for a further two holes and the significant intersections are reported below (all units metric except where indicated in brackets). The true widths of these intersections are not yet known.

DDH# Easting Northing Elevation Azimuth Dip
---- ------- -------- --------- ------- ---
06-06 592429 5482922 284 270 -55
06-07 592229 5483090 284 90 -45

To - From Interval Grade
meters g/t
------- -----
06-06 0-350 350 Not Anomalous
06-07 54-59 8 Anomalous
73.6-78.6 5 5.42
Includes 74.6-75.6 1 22.50
227.4-233 5.6 6.32

The Phase I drilling is showing results generally consistent with earlier drilling by Royal Oak and Newmont Canada in the A8 vein area. Drill hole 06-06 was drilled from the east towards the area of drill holes 06-03 and 06-07 which indicates that mineralization is plunging towards the west or northwest.

The Phase II drilling is underway with helicopter support and the first two holes in that programme are completed and samples have been submitted for assay.

The successful Casa West project of Aurizon Mines is also within the Casa Berardi Deformation Zone and lies about 15 kms east of the current Mikwam property boundary. Staking activity has picked up in the area to the west of the ESO claims. The ESO claims now extend to the Quebec border and the western boundary of the Aurizon Mines holdings in that Province. The additional claims were acquired because ESO recognized that geology does not respect provincial boundaries and the open ground covered some recorded gold showing within the rocks of the Casa Berardi Deformation Zone.

ESO will continue to report on the remaining samples submitted for assay as they are completed.

The data set used here has been presented to ESO by Caracle Creek International Consultants Inc. (CCIC) who are assisting the Company in the drill programme. The data generated in the ongoing programme will be used by CCIC, independent consultants to ESO, to complete a resource estimate that is compliant with NI 43 101. Drilling was re-started on 24th April 2006, with an initial focus on the A8 vein area for resource estimate data. In addition to this drilling, several targets are being reviewed for drilling on the recently acquired contiguous claims.

About ESO Uranium Corp.

ESO Uranium Corp., a Vancouver based mineral resource company, is actively exploring for gold in the Casa Berardi deformation zone in Ontario and for uranium in the Athabasca Basin in Saskatchewan. The Company is well financed with over $5 million in its treasury.

The Company controls in excess of 860,000 acres of mineral claims in the Athabasca Basin making it one of the largest land holders in the world's most prolific uranium producing region. The Company also has a 100% interest in 21,380 acres of mineral claims referred to as the Mikwam gold project located along the western extension of 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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