Jetcom Inc.
TSX VENTURE : JTM

Jetcom Inc.

January 17, 2007 08:00 ET

Jetcom's Yellowcake Appoints Mining Consultant

TORONTO, ONTARIO--(CCNMatthews - Jan. 17, 2007) - Jetcom Inc. (TSX VENTURE:JTM), is pleased to announce the appointment of Mr. Brian Patrick McDonough to the board of directors of Yellowcake Resources Inc. ("Yellowcake"), a wholly owned subsidiary. Mr. McDonough will act as senior technical advisor and will report to the board of directors of Jetcom on all technical matters related to the uranium exploration and development properties - Yellowcake has been granted an option to purchase a 100% interest in 23 uranium claims totaling 3100 acres in the Campbell's Bay area of Quebec (see press release dated November 15, 2006). This is a proposed transaction subject to TSX Venture Exchange approval.

Mr. McDonough, BSc., is an independent mining consultant with over 50 years experience and has been involved in numerous mining projects over the years. He is a graduate of the University of Toronto in Mining and Metallurgy and brings a wealth of knowledge and experience to advise the board of directors of Jetcom on matters concerning Yellowcake.

About Jetcom Inc.:

Jetcom is a holding company with interests in satellite television programming distribution, e-telehealth technology, and, most recently, a proposed transaction for uranium exploration properties. More information can be found on the SEDAR website at http://www.sedar.com. A Yellowcake Resources website is under development.

Erratum:

Jetcom also announces that in the press release dated November 15, 2006 it had transcribed the figures in the fifth paragraph incorrectly. The Company should have used "0.08% U3O8" and not "0.80% U3O8".

Coporate update:

The Company has completed a pre-filing consultation with the TSX Venture Exchange in order to ascertain whether the proposed transaction is deemed a Change of Business ("COB"). The Company is now proceeding with the submission pursuant to TSX Venture Exchange Policy 5.2.

Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular or Filing Statement to be prepared in connection with the transaction, any information released or received with respect to the COB may not be accurate or complete and should not be relied upon. Trading in the securities of Jetcom Inc. should be considered highly speculative.

Jetcom Inc. has 37,525,971 outstanding common shares.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Jetcom Inc.
    A. G. Dragone
    President
    (416) 447-4884
    (416) 447-8868 (FAX)