Magnum Uranium Corp.
TSX VENTURE : MM

Magnum Uranium Corp.

November 12, 2007 18:43 ET

Magnum Uranium Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2007) -

NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR DISSEMMINATION IN THE UNITED STATES

Magnum Uranium Corp. (the "Company") (TSX VENTURE:MM) is pleased to announce a non-brokered private placement of up to 1,000,000 units at a price of $0.45 per unit, for aggregate gross proceeds of $450,000. Each unit will consist of one common share and one warrant, exercisable by the holder to acquire one additional common share at a price of $0.65 for two years. The net proceeds from this private placement will be used as general working capital. The Company will not incur any Finders Fees or related selling expenses in connection with this financing.

The Company has also granted incentive stock options pursuant to its stock option plan to eligible parties to purchase up to 695,000 common shares for five years at $0.45 per share.

All securities issued will be subject to a four-month hold period.

Magnum is a Vancouver-based exploration company focused on the acquisition and development of uranium assets in North America. Currently, the Company's primary property holdings are located in the Western United States, specifically Wyoming, Utah, New Mexico and Idaho and Canada's Athabasca Basin.

ON BEHALF OF THE BOARD

Craig T. Lindsay, President & CEO

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

The TSX Venture Exchange has neither approved or dissaproved of the contents herein.

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