Pitchstone Exploration Ltd.

Pitchstone Exploration Ltd.

August 25, 2009 07:00 ET

Pitchstone Finalizes Namibia Uranium Drilling Plans

- Dome North uranium discovery to be drilled - 20 hole program planned for September

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2009) - Pitchstone Exploration Ltd. (TSX VENTURE:PXP) ("Pitchstone") is about to begin a uranium drilling program in western Namibia. The company has selected a contractor to complete an initial drill program on the Dome North uranium discovery. A minimum of 20 reverse circulation holes are planned to test recently discovered uranium mineralization as well as radon anomalies and interpreted paleochannels.

The project is a uranium exploration joint venture between Pitchstone (58%) and private company Manica Minerals Ltd. (42%) through Manica's wholly-owned subsidiary Cheetah Minerals Exploration Ltd. The property location relative to the nearby Rossing and Langer Heinrich uranium mines, and other uranium occurrences in the western Namibian uranium district, is illustrated on the attached map.

Following Up Recent Uranium Discovery

Dome North is a zone of calcrete-hosted uranium mineralization discovered at surface during scintillometer prospecting in March of this year (see April 21, 2009 news release). Five of six grab samples from the zone are mineralized and contain 196 to 1,620 ppm uranium (0.02-0.19% U3O8). The samples were collected along a 2.5 kilometer long portion of a dry drainage channel.

Along with the zone of mineralization, additional targets to be drill tested include several elongate conductivity anomalies that are interpreted to represent buried paleochannels. Some of these anomalies are adjacent to or near the mineralized area, and several are coincident with radon anomalies identified during a survey completed in 2008.

Steve Blower, P.Geo., President of Pitchstone, is the Qualified Person for the purposes of NI 43-101 with respect to the technical information in this news release. Sample preparation and analyses were done by ALS Chemex, Johannesburg. A multi-element ICP-MS analysis was completed on the samples after a four acid, near-total digestion. Pitchstone utilizes internally and externally submitted standard reference materials for quality assurance and quality control of the sample preparation and analyses. Field work is being supervised by Cape Town based Remote Exploration Services on behalf of the joint venture.

About Pitchstone

Pitchstone is well funded and exploring for uranium in four proven districts. The property portfolio features 12 projects in the eastern Athabasca Basin, Saskatchewan, four of which are 100% owned. In addition, there are several joint venture projects in the Hornby Bay Basin, Nunavut, an exploration partnership in the Franceville Basin, Gabon, and a joint venture on two projects in Namibia. Pitchstone benefits from the collaboration of a unique group of geologists with extensive uranium exploration and production experience.

On behalf of the Board,

E.A.G. (Ted) Trueman, CEO & Chairman

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward- looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond Pitchstone's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.

To view the map associated with this press release, please click on the following link: http://media3.marketwire.com/docs/pxp824.pdf

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pitchstone Exploration Ltd.
    Claire Stewart
    604 630 5563
    Pitchstone Exploration Ltd.
    Mark T. Brown
    604 687 3520