Thelon Capital Ltd.

Thelon Capital Ltd.

May 30, 2006 18:45 ET

Thelon to Commence Drilling on Nevada Uranium Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2006) - Thelon Ventures (TSX VENTURE:THV) is pleased to announce it has received land use permits to commence confirmation, delineation and exploratory drilling on its White River Valley Uranium Project. The company has contracted Christiansen Drilling Inc. of Ely Nevada to conduct the phase one drill program. Thelon has an option to earn up to an 80% interest in the White River Valley Uranium Property from Energy Metals Corp. The White River Valley property, formerly held by Wold Nuclear and Union Carbide, is located in Nye County Nevada approximately 55 miles south of Ely.

Based on information provided by Energy Metals Corporation, previous drilling by Union Carbide has outlined two areas encompassing almost 500 acres with known sandstone hosted uranium mineralization. The mineralization, which lies at depths of 900 to 1100 feet, is believed to be amenable to extraction by the in-situ Leaching (ISL) process. Drilling on the property has intersected radiometric grades of 0.04% U3O8 over 30 feet and grade thickness (GT) values in excess of 1.2 have been encountered (GT equals % U3O8 x feet) within the mineralized areas. Additional drilling will be required to delineate the extent and commercial viability, if any, of the mineralization, which is open in at least two directions. The company has the original detailed logs of all the previous drilling on the project. A full review by company geologists is currently underway. Thelon geologists and consulting geochemist have taken possession of and begun an intensive review of the more than 30 down hole logs to establish in-fill drill targets and provide an estimate of the overall property potential.

Sam Zastavnikovich P. Geo., a Qualified Person under NI 43-101 has approved the technical content of this news release.


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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