SOURCE: Bancroft Uranium Inc.

May 13, 2008 07:00 ET

Bancroft Initiates Program to Increase Monmouth Uranium Project Claim Holdings

SCOTTSDALE, AZ--(Marketwire - May 13, 2008) - Bancroft Uranium Inc. (OTCBB: BCFT) ("Bancroft" or the "Company") today wishes to announce that the Company will be increasing the size of its claim holdings in proximity to the Monmouth Uranium Project, located near Bancroft, Ontario.

Bancroft has recently implemented a land acquisition program comprised of claim staking all prospective ground that ties onto and is in proximity to the Monmouth Uranium Project. The initial size of the Monmouth claim block and Bancroft land position of 2,700 acres is being expanded to 4,200 acres.

The additional acreage is a reflection of the positive nature of the initial analyses from drill data being compiled from the 2008 spring program. As drill results and uranium assay intervals are being tabulated by Company engineers, the decision to increase claim holdings by additional staking was undertaken by Bancroft management.

In conjunction with the staking program, Bancroft is currently in ongoing discussions with other uranium exploration companies that have prospective claim holdings in proximity to the Monmouth Project. Bancroft is aggressively seeking joint venture opportunities with groups exploring in the area.

Bancroft Uranium believes that companies with mutual interests having the ultimate goal of developing uranium deposits into commercially viable operations could create a broad regional play with several companies involved. This may provide the potential for the creation of a central milling and uranium processing facility that would serve various parties in a more cost effective fashion.

For inquiries from the public and media concerning the Monmouth Uranium Project please contact Greenspirit Strategies at 1-877-54 GREEN or 1-877-544-7336. For shareholder and investor information please contact investor relations at 1-866-860-2995

ABOUT BANCROFT URANIUM INC. (OTCBB: BCFT)

Bancroft Uranium Inc. is an exploration Company which intends to develop Uranium assets in North America. Bancroft's initial asset, the Monmouth Uranium Project is envisioned to have the potential of a low cost, open pit uranium producer located close to infrastructure and end product buyers.

Notice Regarding Forward-Looking Statements.

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our uranium properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and development stage exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

ON BEHALF OF THE BOARD
Bancroft Uranium Inc.
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P. L. Hammond, C.A.
President and Chief Executive Officer

To find out more about Bancroft Uranium Inc. (OTCBB: BCFT), visit our website at www.bancrofturanium.com.

Contact Information

  • Public and Media Information:
    1-877-544-7336

    Shareholder and Investor Information:
    1-866-860-2995