SOURCE: Bancroft Uranium Inc.

May 05, 2008 07:00 ET

Bancroft Metallurgical Test Results Show 91.4% Recovery for Uranium

SCOTTSDALE, AZ--(Marketwire - May 5, 2008) - Bancroft Uranium Inc. (OTCBB: BCFT) ("Bancroft" or the "Company") is pleased to report on metallurgical testing conducted by SGS Lakefield Research on samples submitted from the Monmouth Uranium Project, Bancroft, Ontario.

Metallurgical tests on samples of the uranium-bearing Monmouth rock were conducted by SGS Mineral Services Laboratory at Lakefield, Ontario. Their report concludes that 91.4% recovery of the uranium can be achieved through simple gravity separation. The optimal grind of the soft limestone host rock is 348 microns or 0.3mm in size. SGS also concludes that "uranium was effectively concentrated by gravity separation" and was concentrated into a commercial grade of 31% from the initial mass of 0.11%. These results far exceed the gravity separation and heavy liquid test work conducted by Lakefield Research in 1969 which showed an 82.1% recovery and a 7.75% concentrate. The objective of the program has established that modern milling techniques will deliver results significantly greater than previously identified.

The conclusions of SGS are as follows:

"Bancroft Uranium Inc. provided a sample of ore from the Bancroft/Madoc area, which was crushed to -10 mesh and split into 10kg charges. These charges were used in three tests, exploring the effect of crush/grind size on gravity separation. The Wilfley, Mozley, Knelson, and superpanner equipment was used in these tests in order to upgrade the uranium. The sample demonstrated an excellent response to gravity separation, attaining a recovery of 91.4% U3O8 at a grade of 31.0% U3O8 in 0.11% of the mass, from the test conditions."

Future test work was recommended including spiral concentrators and grinding variations to achieve optimal milling techniques. Various flow sheets have been prepared, one of which is a simple gravity milling proposal that can be used by the company in future planning. In all, the results on the Monmouth ore testing far exceeded Bancroft's expectations.

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