Thelon Capital Ltd.
TSX VENTURE : THC
FRANKFURT : TFH

Thelon Capital Ltd.

October 29, 2007 17:34 ET

Thelon Ventures Ltd.: Successful Radon Survey Identifies Four High Priority Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 29, 2007) - Thelon Ventures (TSX VENTURE:THV)(FRANKFURT:TFH) is pleased to announce the completion of a reconnaissance radon soil survey on the Four Corners property. The survey was conducted by Stratamodel Inc., consisting of 405 sample points covering approximately 19,140 hectares in Emery County Utah within the Colorado Plateau Uranium Province. The stratigraphic target is the Salt Wash Member of the Morrison Formation of Upper Jurassic age renowned for historic high grade mineralization in several districts on the Plateau. The Morrison Formation as a whole is historically the largest source of uranium in the United States. The radon anomalies are believed to originate from uranium mineralization within the Salt Wash Member at depths ranging from 100 to over 200 meters.

Thelon Ventures Ltd. can earn up to a 75% interest in the Four Corners Project from International Ranger Corp. (PINK SHEETS:IRNG). See news release dated May 29 2007.

The Four Corners property consists of 2005 lode mining claims and nine Utah state leases immediately north of the Tidwell and Acherson Mining Districts. Historic production in these districts was reported to be approximately 4 million pounds of U3O8 in 1978, five or more years prior to the abrupt termination of mining operations by Atlas Mineral Corp in the early 1980's due to the precipitous drop in world uranium prices.

Follow-up radon surveys will be conducted over the course of the next coming weeks to confirm the results of the widely spaced sample points and delineate and prioritize drill targets. Three anomalies approximately the same size as the mapped extent of ore grade mineralization in the Tidwell mining district are deemed high priority for a detailed radon soil survey. Two of the three large anomalies are oriented NE, sub parallel to the Tidwell ore trend. A fourth smaller anomaly lies adjacent to a dense pattern of historic drilling immediately west of the Probe Mine which had large underground production , but numbers are unknown. Tailings piles at the Probe Mine cover over 4 hectares and reach a height of more than 5 meters.

Tom Bell, PhD P.G, a qualified person under national instrument 43-101, has approved the technical information contain in this news release.

THELON VENTURES LTD.

On behalf of the Board of Directors

Jason Walsh, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.

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