SOURCE: Bancroft Uranium Inc.

June 16, 2008 04:00 ET

Bancroft Uranium Announces Final Series of Drilling Results

SCOTTSDALE, AZ--(Marketwire - June 16, 2008) - Bancroft Uranium Inc. (OTCBB: BCFT) ("Bancroft" or the "Company") today announces the final series of drilling results from the 2008 surface drill program conducted at the Monmouth Uranium Project, near Bancroft, Ontario. The Company today is releasing assay results from the final 7 drill holes 08-41 through 08-48 as outlined below. The Company has now received all drilling results and third party engineers have begun calculating the uranium resource at Monmouth. The detailed engineering report on the Monmouth Uranium Project being prepared will comply with N.I. Policy 43-101.

This fourth in a series of drilling assays and intervals are from holes drilled over the final 200 feet of strike length exposure of the host rock skarn. In total, the combined results cover drilling conducted over 1,100 feet of strike on the deposit. Assays of 1.069lb/13.6' in the last hole drilled, 08-48, and 0.831lb/15.5' in 08-42 represent the best results from this series of holes. Significant results are as follows. Assays are noted as lb representing lbs/ton U3O8 over feet:

08-41- 0.939lb/1.1' from 263.7 to 264.8 feet, 0.830lb/2.2' from 348.5 to 350.7 feet

08-42- 0.831lb/15.5' from 368.6 to 384.1 includes a 3.773lb/2.6' at 368.6 to 371.2 feet

08-43- 1.004lb/11.6' from 97.2 to 108.8 feet; including 1.905lb/5.0' from 97.2 to 102.2 feet and 0.536lb/3.8' from 105.0 to 108.8 feet

08-44- 0.288lb/11.4' from 64.4 to 75.8 feet; 0.401lb/9.6' from 104.2 to 113.8 feet; 0.701lb/4.1' from 124.9 to 129.0 feet

08-45- 0.126lb/14.1' from 18.9 to 33.0 feet; 0.433lb/32.1'/56.3 to 88.4 feet including 1.014lb/9.7' from 56.3 to 66.0 feet and 0.256lb/14.3'from 74.1 to 88.4 feet

08-46- 0.372lb/14.9' from 89.0 to 103.9 feet including 0.613lb/7.3' from 89.0 to 96.3 feet; 0.367lb/25.8' from 125.9 to 151.7 feet including 0.447lb/17.0' from 125.9 to 142.9 feet and 0.358lb/5.2' from 146.5 to 151.7 feet

08-47- 0.474lb/43.3' from 82.0 to 125.3 feet

08-48- 1.069lb/13.6' from 13.3 to 26.9 feet

Bancroft has verified the location, thickness and flat lying geometry of the uranium bearing skarn system intersected in the historical drilling. U3O8 assays have been returned from both uraninite-bearing bright orange-colored calcite alteration in the skarn and from several pegmatite bodies in and adjacent to the skarn package. The geological modeling of the deposit is now coming into focus with the alteration zone rock package dipping at a fairly consistent 25-30 degrees, amenable to a potential open pit scenario.

All of Bancroft Uranium's exploration programs are designed and supervised by Qualified Persons ("QP") under the N.I. Policy 43-101, who ensure that programs are carried out using current industry "Best Practices." Murray McGill P.Geo (QP) supervised the spring 2008 drilling program. The NQ size core was logged by Mr. McGill and split on-site. Activation Laboratories in Ancaster, Ontario, analyzed half core samples using standard Delayed Neutron Counting (DNC) methods. Activation Laboratories employs rigorous in-house QA/QC procedures in the DNC process.


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.

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

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