SOURCE: Uranium Hunter Corp.

November 05, 2007 16:00 ET

Uranium Hunter Engages VP3 GeoServices Ltd to Complete Due Diligence on 8600 km2 "Karoo" Project in South Western Tanzania

TORONTO--(Marketwire - November 5, 2007) - Uranium Hunter Corporation (OTCBB: URHN) ("Uranium Hunter" or the "Company") is pleased to announce that it has engaged the services of VP3 GeoServices Ltd to assist with completion of Due Diligence on the "Karoo" Project in South Western Tanzania. On October 11th, 2007, Uranium Hunter entered into a Letter of Intent with Pinewood Resources Ltd of Tanzania to earn a 75% interest in the "Karoo" Project which contains approximately 8600 km2 of Karoo based uranium exploration lands located in the Southern regions of Tanzania.

Uranium Hunter expects that on or before December 11, 2007 it will enter into a Definitive Agreement with Pinewood Resources on the 18 Uranium exploration properties covering over 8600 km2. This property portfolio contains lands within close proximity to Paladin's Kaleyekara Uranium deposit in Malawi, as well as the newly announced Mtonya Uranium Project discovery in the southwestern region of Tanzania. VP3 GeoServices is the company contracted to conduct the Phase I exploration project on the Ruhuhu Tanzania Project. The company expects their research to be completed prior to the end of November.

Adam Cegielski, President and CEO of Uranium Hunter, commented, "We are pleased to have acquired a potential interest in a significant land package in Tanzania. These properties will enhance our overall Project Portfolio significantly, and with recent uranium discoveries in the region, it is critical to build our land packages up now before further work is completed in the area."

Exploration work on both the "Ruhuhu" Tanzania Project, and the "Kibaale" Uganda project is still ongoing. Results and an exploration update on both projects will be released shortly.

About The Company:

Uranium Hunter (OTCBB: URHN) is a natural resource corporation devoted to the exploration and development of deposits of Uranium and Gold in East Africa. The company website can be found at www.UraniumHunterCorp.com .

Uranium Hunter has entered into a Definitive Agreement with Trimark Explorations, Ltd ("Trimark"), on behalf of its wholly owned subsidiary Gambaro Resources, to earn up to a 100% interest in the Uranium-Au property located in Njombe and Songea Districts, Tanzania. Uranium Hunter has optioned 170 km2 property in southern Tanzania covering sediments of the Karoo sequence which share common features with rocks of the Colorado Plateau in the western US that have become prolific producers of Uranium.

Uranium Hunter has entered into another Definitive Agreement with NPK Resources Ltd. to earn a 75% interest in the Nkoko and Kagadi uranium properties which contain over 800 km2 located in Kibaale district, Uganda, called the "Kibaale Project."

Uranium Hunter has entered into a letter of intent with Pinewood Resources of Tanzania to earn a 75% interest in the Karoo project which contains approximately 8600 square km within close proximity to Paladin's Kaleyekara uranium deposit in Malawi, and the newly announced Mtonya Uranium Project discovery in the south western region of Tanzania.

The Ugandan government, World Bank, African Development Fund and the Nordic Development Fund has all co-sponsored a US $42 million dollar high valued mineral centered aerial survey which began in January 2007. Results are expected shortly, and will aid in early exploration work on the properties.

Forward-Looking Statements:

This press release contains forward-looking statements, particularly as related to, among other things, Uranium Hunter's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause Uranium Hunter's actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks, uncertainties and other factors that are detailed in Uranium Hunter's Quarterly and Annual Reports and other documents Uranium Hunter files from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Uranium Hunter cautions readers not to place undue reliance on such statements. Uranium Hunter does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Uranium Hunter's expectations and estimates.

NR 07-22

Contact Information

  • Contact:

    Uranium Hunter Corporation
    Adam Cegielski
    President
    (416) 915-3199
    Investor Relations
    Toll free 1-866-566-0936