White Canyon Uranium Limited

White Canyon Uranium Limited

February 16, 2010 20:17 ET

White Canyon Uranium Limited: Canaccord Financial as Sponsoring Broker

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2010) - Utah based uranium producer, White Canyon Uranium Limited (TSX VENTURE:WU)(ASX:WCU) ("White Canyon" or "the Company") wishes to confirm that Canaccord Financial Inc. ("Canaccord"), previously Canaccord Capital Corporation, acted as its Sponsoring Broker for its successful listing on the TSX-V on February 12, 2010.

Under the terms of the Sponsorship Agreement, dated December 6 2008, Canaccord has the "first right of refusal" for all future equity financings of the Company for a period of 24 months, plus will assist the Company with its promotion in the North American market.

Canaccord is a subsidiary of Canaccord Financial Inc., one of North America's leading independent, full-service financial services firms (see Editors Notes for further information).

Commenting on the agreement with Canaccord, White Canyon Managing Director & CEO Peter Batten, said "The Company believes the agreement with Canaccord will provide it with access to considerable capital management and corporate advice, which in turn should ensure White Canyon is able to maximise the various opportunities associated with being a profitable uranium producer."

"White Canyon will also work closely with Canaccord to ensure its operational objectives are able to be adequately funded in a manner that maximises returns to shareholders," Mr. Batten added.

With the Sponsorship Agreement with Canaccord Financial Ltd. now in place the Company wishes to confirm it has no other arrangement or agreement with any other entity, including Cunningham Petersen Sharbanee Securities Pty Ltd, for advice or capital markets support in the future.


Through its principal subsidiaries, Canaccord Financial Inc. is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets.

Since its establishment in 1950, Canaccord has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value through comprehensive investment solutions, brokerage services and investment banking services for our individual, institutional and corporate clients.

Canaccord has 37 offices worldwide, including 29 Wealth Management offices located across Canada. Canaccord Adams, the international capital markets division, operates in the U.S., U.K., Canada and Barbados. Canaccord Financial Inc. is publicly traded on both the Toronto Stock Exchange and AIM, a market operated by the London Stock Exchange. The company currently trades as CCI. Beginning December 4, 2009, Canaccord Financial Inc. will trade as CF on the TSX and CF. on AIM.

Website: www.canaccordfinancial.com

About White Canyon Uranium:

White Canyon is a US focussed uranium producer holding 100% interest in the advanced Thompson, Daneros, Lark Royal, Geitus, Blue Jay and Marcy Look Projects in south-east Utah, comprising of over 12,000 acres of mining claims and mineral leases. The projects contain historically defined high grade uranium deposits, however the deposits are not JORC or 43-101 compliant.

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.

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