Global Uranium Corp.

April 10, 2007 15:02 ET

CLARIFICATION UPDATE: Global Uranium Corp. Financing Oversubscribed

TORONTO, ONTARIO--(CCNMatthews - April 10, 2007) - Please be advised that the release issued at 12:31PM ET April 10, 2007 included the incorrect stock info, The stock info included in the release does not pertain to this company. Global Uranium Corp. is not a publicly traded company. The complete and corrected release is below.

Global Uranium Corp. ("Global" or "the Company") is pleased to announce that it has successfully completed a non-brokered common share financing raising gross proceeds of CDN $7.5 million by the issuance of 7.5 million common shares at $1.00 per share.

The financing was oversubscribed from the original target of CDN $5 million due, in part, to a very buoyant uranium market.

The proceeds of the offering will be used to explore and develop the Company's recently announced Tin-Negouran concessions in Niger (See press release dated February 7, 2007), as well as to further analyze Global's large uranium database for interesting opportunities.

About Global Uranium Corp.

Global Uranium is a private Ontario corporation founded in January, 2005 by Clifford H. Frame, P.Eng., Chairman of the Board, and Stephen G. Roman, President & CEO. The Company owns a database consisting of numerous uranium exploration targets around the world collected over a 30 year period by a major Canadian uranium producer. In addition, the Company has a three year exploration agreement on four uranium concessions in Niger.

It is Global's intention to fast-track this opportunity in Niger with a view to developing at least one producing mine and to continue to aggressively grow the Company through exploration and acquisition of high value uranium targets world-wide. A number of potential projects are currently under review.

The Company has 39,483,577 common shares outstanding.

The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

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