American Uranium Corporation
OTC Bulletin Board : AUUM

American Uranium Corporation

April 22, 2008 12:50 ET

American Uranium Announces the Completion of the Southwest Reno Creek, Wyoming NI 43-101 Technical Report: Mineral Resource Increased to 3.5 Million Pounds U3O8

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 22, 2008) - American Uranium Corporation ("American" or "the Company") (OTCBB:AUUM) is pleased to announce that it's Pinetree-Reno Creek Joint Venture Partner Strathmore Resources (US) Ltd. has completed and SEDAR-filed an independent National Instrument 43-101 Technical Report for the Southwest Reno Creek Property, Wyoming. The Joint Venture has begun permitting activities for the Reno Creek Project, which includes lands within the Southwest Property. Mining is planned using in-situ recovery (ISR) techniques.

The NI 43-101 report covers the he Southwest Reno Creek Property, which is located 1/4 mile southwest of the main Reno Creek Property. In February, the Company announced the completion of a NI 43-101 report for the main Reno Creek Property, where a 7.4 million pound measured and indicated uranium resource was estimated, up from the historically reported 4 million pounds.

The recently completed Southwest Reno Creek NI 43-101 report covers part of Section 36 of the Reno Creek property, 81 unpatented lode mining claims, and a private mineral lease (Section 31). In addition, the new resource estimate includes a portion of a property known as the "Claim Group", which did not carry a historical resource estimate. In total, the Southwest Reno Creek NI 43-101 comprises approximately 17% of the entire JV project area.

For the entire property, the 43-101 report provides a total Measured and Indicated resource estimate of 3,526,495 pounds at an average grade of 0.068% U3O8, up from the historically reported 1.3 million pounds U3O8 for Section 36 only. An additional 1,327,635 pounds of U3O8 at an average grade of 0.057% is classified as an Inferred mineral resource. Due to the nature of the property configuration and available drill hole information, the resource estimates were separated into two sub-categories; one for Section 36 and one for the Claim Group. Further details on the quantity and grade for each mineral resource category are shown in the following tables:

Southwest Reno Creek, Wyoming: Mineral Resources: Measured, Indicated and Inferred



------------------------------------------------------------------------
Claim Group Average
Resource Tons Grade % Pounds Ave. Thick Ave. GT
------------------------------------------------------------------------
Measured 629,294 0.076 954,811 11.1 0.84
------------------------------------------------------------------------
Indicated 1,034,044 0.067 1,382,388 11.5 0.77
------------------------------------------------------------------------
Total (M+I) 1,663,668 0.070 2,337,199 11.4 0.80
------------------------------------------------------------------------
Inferred 751,389 0.059 887,184 10.8 0.64
------------------------------------------------------------------------

------------------------------------------------------------------------
Section 36 Average
Resource Tons Grade % Pounds Ave. Thick Ave. GT
------------------------------------------------------------------------
Measured 303,180 0.071 430,214 11.0 0.78
------------------------------------------------------------------------
Indicated 624,424 0.061 759,082 11.8 0.71
------------------------------------------------------------------------
Total (M+I) 927,604 0.064 1,189,296 11.5 0.74
------------------------------------------------------------------------
Inferred 411,740 0.053 440,450 12.6 0.67
------------------------------------------------------------------------

------------------------------------------------------------------------
Total Propery Average
Resource Tons Grade % Pounds Ave. Thick Ave. GT
------------------------------------------------------------------------
Measured 932,474 0.074 1,385,025 11.1 0.82
------------------------------------------------------------------------
Indicated 1,658,469 0.065 2,141,470 11.6 0.75
------------------------------------------------------------------------
Total (M+I) 2,590,943 0.068 3,526,495 11.4 0.78
------------------------------------------------------------------------
Inferred 1,163,130 0.057 1,327,635 11.4 0.65
------------------------------------------------------------------------


The Southwest Reno Creek technical report was prepared by Charles D. Snow, Certified Professional Geologist (CPG, Wyoming), who is a qualified person under National Instrument Policy 43-101. Mr. Snow has over 40 years of uranium exploration and mine development experience (Utah International/Pathfinder) in the Gas Hills and Shirley Basin Uranium District, Wyoming, which are the two largest historical producing uranium districts in Wyoming. In addition, Mr. Snow was involved with the world's first in-situ recovery mining of uranium deposits in Shirley Basin dating back to the early 1960s.

The new resource estimates are based on 695 exploration drill holes completed by the previous mining companies on that portion of the Property controlled by the Joint Venture. The Joint Venture owns this exploration data, which includes drill hole location maps, drill log intercept data, and historical resource estimate documents.

For the mineral resource estimates, polygons, which were centered on the drill holes, were constructed by using perpendicular bisectors halfway between adjacent drill holes (also called area of equal influence "AOI"). Uranium content was previously calculated using industry standards from gamma-ray logs for each hole by converting counts per second to % eU3O8 (equivalent). Thickness and grade of the mineralized intercepts were assigned to each polygon for determining tonnage, with an assumed factor of 16 cubic feet per ton. Historical drilling was conducted on a 100 foot by 200 foot grid, with 50 foot offset drilling spacing along the mineralized trends. The AOI of each polygon was limited by the position of adjoining drill holes, the property boundary, and/or the maximum capped size of the measured (10,000 ft2), indicated (40,000 ft2), or inferred (160,000 ft2) resource category.

In the technical report, Mr. Snow writes:

"...it is the author's opinion that there is considerable exploration potential to find ore-grade uranium mineralization on Section 31 (private mineral lease) based on the uranium mineralization noted immediately to the west on Section 36, immediately to the south on the Claim Group, and the significant mineralization noted on the Main Reno Creek Property 0.25 miles to the east." In addition, "The Southwest Reno Creek Property is considered a viable target for in-situ recovery of the uranium ore. The ore is at depths of 270-450 feet, lying beneath the local water table within permeable sandstones confined by bounding shale and mudstone. Significant permitting and research studies were performed over the years by the previous operators on Strathmore's adjacent Main Reno Creek Property to bring that property to production, including successful operation and reclamation of a pilot in-situ recovery plant that showed bicarbonate lixiviant can be used to leach the uranium."

The Southwest Reno Creek Property covers 2,700 acres (1,090 ha) and is located in the Pumpkin Buttes Uranium District within the Powder River Basin, northeastern Wyoming. The Property lies midway between AREVA's Christensen Ranch in-situ operations approximately 25 miles to the northwest and Cameco's Smith Ranch in-situ facility, located 30 miles to the south. The project was extensively explored by a number of previous operators during the 1970s and1980s, including subsidiaries of the Tennessee Valley Authority (TVA). The Property was subsequently acquired by Power Resources Inc (Cameco's US subsidiary) from TVA in the mid 1990s but later dropped in the early 2000s when uranium prices collapsed to a low of about $7 per lb U3O8. Strathmore began acquiring properties in the Pine Tree-Reno Creek area in early 2004, and now holds in excess of 16,000 acres of uranium-hosting and highly prospective lands with American.

The 43-101 technical report for the Southwest Reno Creek Property can be viewed in its entirety on the Company's website www.americanuraniumcorp.com.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in NI 43-101 and reviewed by David Miller, Chief Executive Officer, for Strathmore Minerals Corp., a qualified person under NI 43-101 guidelines. It should be noted that mineral resources which are not mineral reserves do not have demonstrated economic viability as defined by NI 43-101 guidelines.

AMERICAN URANIUM CORPORATION is a Nevada based uranium exploration and development company, and is committed to spending US $12.375 million to earn an initial 22.5% in the Pine Tree-Reno Creek project and US $33 million over the next 6 years to earn a 60% interest.

STRATHMORE MINERALS CORP. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties in the United States. Headquartered in Kelowna, British Columbia, the Company also has U.S. based Development offices in Riverton, Wyoming and Santa Fe, New Mexico. STRATHMORE MINERALS CORP. Common Shares are listed on the TSX Venture Exchange under the symbol "STM".

Legal Notice regarding Forward Looking Statements

Statements in this news release that are not historical are forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Forward-looking statements in this news release include: that there is excellent potential for discovery of additional uranium mineralization on the Reno Creek Property, especially to the east of the main deposits, that the Reno Creek Property is considered a viable target for in-situ recovery of the uranium ore, that the Reno Creek data obtained last year is expected to enable the Joint Venture to expedite regulatory permitting requirements and advance the project's production timeline. Permitting activities are now underway, and that work scheduled for 2008 includes the installation of groundwater monitor wells to obtain necessary geologic and hydrologic information, reserve analysis of the mineralized fronts, preliminary well field design, and engineering designs of a centralized and/or satellite in-situ recovery facility.

It is important to note that the Company's actual outcomes may differ materially from those statements contained in this press release. Factors which may delay or prevent these forward looking statements from being realized include misinterpretation of data; that we may not be able to keep our qualified personnel; that funds expected to be received may not be; that our estimates of mineral resources are inaccurate; uncertainties involved in the interpretation of drilling results and other tests and the estimation of resources; that we may not be able to get equipment or labor as we need it; that we may not be able to raise sufficient funds to complete our intended exploration, purchase, lease or option payments; that our applications to drill may be denied; that weather, logistical problems or hazards may prevent us from exploration; that analysis of data cannot be done accurately and at depth; that results which we have found in any particular location are not necessarily indicative of larger areas of our property; and that despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures outlined in the Company's most recent Form 10-KSB and other periodic reports filed from time to time with the Securities and Exchange Commission.

Information Concerning Mineralization and Resources

All mineral resources have been estimated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian National Instrument 43-101. U.S. reporting requirements for disclosure of mineral properties are governed by the United States Securities and Exchange Commission (SEC) Industry Guide 7. Canadian and Guide 7 standards are substantially different. This press release uses the terms "indicated" and "inferred" resources. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. Inferred mineral resources are considered too speculative geologically to have economic considerations applied to them that enable them to be categorized as mineral reserves.

Contact Information