SOURCE: Bancroft Uranium Inc.

May 14, 2008 07:00 ET

Bancroft Uranium Updates Progress With First Nations

SCOTTSDALE, AZ--(Marketwire - May 14, 2008) - Bancroft Uranium Inc. (OTCBB: BCFT) ("Bancroft" or the "Company") wishes to update the status of ongoing discussions with local First Nations representatives regarding its Monmouth Uranium Project, located near Gooderham, Ontario.

These discussions are designed to provide an opportunity for dialogue on issues of significant relevance to the local First Nations people in regards to the Company's project which is being conducted within their Treaty Territory and areas of cultural relevance.

Bancroft management recognized the importance of local First Nations traditional rights and sought immediate contact with them in order to establish a mutually respectful relationship prior to any advanced exploration commencing at the Monmouth project.

Prior to the commencement of the spring 2008 diamond drilling program, a leading member of the First Nations community reviewed the property from an archaeological perspective. A close working relationship has now been developed and the Company looks forward to an ongoing, respectful and beneficial partnership with the local First Nations.

Bancroft Uranium desires to work closely with the local First Nations band in deference to their traditional and cultural heritage. The Company envisages close collaboration with respect to both archaeological and environmental studies on an ongoing basis. Our project will provide economic benefits by way of employment opportunities for members of the First Nations and more particularly, the opportunity to provide members of the First Nations with skill sets that can be utilized in other areas.

Additionally, the Company intends to undertake a specific support program to the local First Nations community that will provide ongoing, long-term benefits. Bancroft foresees a representative of the First Nations being appointed to the Board of Directors in the near future and the Company is appreciative of the positive reception it has been given to-date by First Nations representatives.

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