Anglo-Canadian Uranium Corp.
TSX VENTURE : URA

Anglo-Canadian Uranium Corp.

October 17, 2006 09:00 ET

Anglo Canadian Uranium Corp.: Uranium/Vanadium Claims Acquired in Colorado

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2006) - Anglo Canadian Uranium Corp. (TSX VENTURE:URA) (the "Company") is pleased to announce it has entered into an option agreement for the acquisition of a 100% interest in 81 claims located on Wedding Bell Mountain on the Colorado Plateau area of the Uravan Mineral Belt. The claims, known as the Tomcat claims, are located in San Miguel County, Colorado and further complement the Company's portfolio of uranium and vanadium projects located in the Four Corners Region of the United States.

The Tomcat claims include a number of former producing mines including the Jackknife, Groundhog, and Bachelor mines. Other mines in the area include the Edna May, Rimrock, Rimrock #3, Babe Ruth, and Mexico mines, and a number of smaller mining operations. Previous exploration on the claims included drill programs at the Jackknife and Groundhog mines in the 1970's prior to the cessation of mining in the area. Grades reported from these historical drill programs indicate 0.16% to 0.25% U3O8, and averaging 1.25% Vanadium. Uranium mineralization in the Colorado Plateau is found in mineralized lenses, which were deposited in alluvial fans by braided streams. Current exploration techniques focus on the drilling of these lenses to further identify uranium resources. This area, being part of the Uravan Mineral Belt, has been a prolific producer of uranium since the early 1900's, with increased recent activity due to increased demand for uranium and a dramatic rise in the price of uranium. The Company is attempting to retrieve additional data from previous exploration programs for the planning of a future development program.

Terms of this agreement call for the initial payment of US $15,000, and the issuance of 60,000 shares in the capital of the Company upon TSX Venture Exchange approval. Further terms include the payment of US $15,000 and the further issuance of either 100,000 shares or US $100,000 at the election of the Company on the first anniversary of the agreement. The Company will pay US $30,000 and either issue 140,000 shares or US $140,000 at the election of the Company on the second anniversary of the agreement. A 2% NSR is included, and the Company has the option to buy each 1% for US $200,000.

This option agreement is subject to TSX Venture Exchange approval.

The technical portion of this release has been approved by James A.Turner. P.Geo., a qualified person under NI 43-101.

About Anglo-Canadian Uranium Corp.

Anglo-Canadian is an aggressive uranium and gold exploration company with several properties located in Canada and the United States. The Company's current projects include uranium projects located in Colorado, Utah, New Mexico and Quebec, and gold and base metals projects in British Columbia. The Company's focus is to acquire uranium and gold deposits in strategic locations through acquisition and option arrangements, and further develop these projects with experienced management teams.

For more information on the Company and its projects, please visit the website at www.anglocanex.com

ON BEHALF OF THE BOARD OF DIRECTORS:

Len J. Harris, 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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