American Uranium Corporation
OTC Bulletin Board : AUUM

American Uranium Corporation

October 10, 2008 09:16 ET

American Uranium Approves 46:1 Share Consolidation

DENVER, COLORADO--(Marketwire - Oct. 10, 2008) - American Uranium Corporation ("American" or "the Company") (OTCBB:AUUM) announced today that its Board of Directors has approved the consolidation of its shares on a 46:1 share basis. The Company will proceed with all necessary filings to complete the reverse stock split as soon as possible.

In light of discussions with potential investors and the state of capital markets the Company's Board has concluded that if American's share structure is not significantly revised the Company might not be able to meet its goals for future equity participation and financing.

AMERICAN URANIUM CORPORATION is a Nevada based uranium exploration and development company, which is committed to spending US $12.375 million to earn an initial 22.5% in the Pine Tree-Reno Creek project ("the Project") and a total of US $33 million over 6 years to earn a 60% interest in the Project from Strathmore Minerals Corporation.

Legal Notice regarding Forward Looking Statements

Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include: that we will consolidate our shares, that this will assist in meeting our goals for future equity participation and financing and that we will spend funds to earn an interest in Strathmore's properties.

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 that we may not be able to keep our qualified personnel; that we may not be able to raise sufficient funds to complete our intended exploration, purchase, lease or option payments; that we are prevented for any reason from consolidating our shares 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-K and other periodic reports filed from time to time with the Securities and Exchange Commission.

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