Great Bear Uranium Corp.
CNQ : GTBR

Great Bear Uranium Corp.

January 16, 2008 09:30 ET

Great Bear Uranium Completes Airborne Geophysical Survey at Wollaston South Project, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2008) - Great Bear Uranium Corp. (the "Company" or "Great Bear") (CNQ:GTBR) is pleased to announce that the Company has completed an airborne geophysical survey over the Wollaston South Project located approximately 300 kilometres north of the town of La Ronge, Saskatchewan. The high resolution aeromagnetic, horizontal gradiometer radiometric and XDS-VFL EM survey was carried out by Terraquest Ltd. of Markham, Ontario and consisted of approximately 4,600 line kilometers flown at 200 meter line spacing.

The Wollaston South Project consists of two Mineral Prospecting Permits totalling 82,635 hectares (approximately 200,000 acres). The permits are situated along the eastern margin of the Wollaston Basement Domain, which underlies a number of significant uranium occurrences in the eastern part of the Athabasca Basin. These include some of the richest uranium deposits known world wide, including: Key Lake, Millennium, McArthur River, Cigar Lake, Midwest Lake and Eagle Point. The McArthur River, Millennium and Eagle Point uranium deposits contain significant amounts of "basement-hosted" uranium, the style of which is the focus of Great Bear's ongoing exploration efforts at Wollaston.

Great Bear expects to have the final interpretation and report from the geophysical survey shortly. The data from the survey has been sent to TerraNotes Ltd. of Edmonton, Alberta an independent company that specializes in highly detailed interpretations of geophysical and geological data. Based on the results of the survey a follow-up exploration program will be planned for 2008.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Jody Dahrouge, P.Geol., of Dahrouge Geological Consulting Ltd., Edmonton, Alta, a qualified person.

ABOUT GREAT BEAR URANIUM

Great Bear Uranium Corp. is a well financed mineral exploration company focused on the strategic acquisition, exploration, and development of uranium properties. The Company has assembled a strong portfolio of projects in some of Canada's foremost uranium producing and exploration regions - the Athabasca Basin, Thelon Basin, and Uranium City Mining District - and is well positioned to discover new sources of supply. Great Bear's shares are listed on the CNQ exchange under the symbol "GTBR".

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

ON BEHALF OF THE BOARD

Wan Jung, President

The CNQ has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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