Delta Uranium Inc. (formerly WavePower Systems International Inc.)

Delta Uranium Inc. (formerly WavePower Systems International Inc.)

November 29, 2007 09:44 ET

Delta Uranium Completes Geophysical Program and Confirms Cobble Lake Extension

TORONTO, ONTARIO--(Marketwire - Nov. 29, 2007) - Delta Uranium Inc. ("Delta" or the "Company") (TSX VENTURE:DUR) is pleased to announce that its 2007 ground geophysical program on its 100% owned Kenora Uranium Project has been completed with encouraging results. The survey, comprising thirty separate grids and 53,859 individual readings, has successfully located and delineated most of the 42 known historical uranium occurrences as well as confirming the presence of a considerable number of new and previously unexplored radiometric anomalies identified from the Company's recent airborne survey.

A significant amount of new information was provided by the ground survey, including confirmation that many of the known uranium showings are greater in size than previously shown in the historical records. Also, of significant importance, the completed ground program indicates that many of the new radiometric anomalies are much larger than anything discovered on the property to date.

Cobble Lake Anomaly Extends Over 10kms

The ground program has confirmed that one of the new anomalies identified from the airborne survey, the Cobble Lake anomaly, extends continuously for over ten kilometres, while several other anomalies were identified ranging between one and four kilometres in strike length. Prior to the ground survey, uranium occurrences discovered within the Kenora Uranium Project were typically reported as being less than one kilometre in length. The new data resulting from Delta's exploration program suggests that the Kenora Uranium Project has the potential to host much larger uranium deposits than previously thought. In addition, the ground survey results indicate that, in some areas, multiple uranium occurrences, initially believed to represent isolated occurrences, in fact represent continuous zones or anomalies, increasing their potential to host significant volumes of uranium-bearing mineralization.

Although the survey was carried out on a property scale, there are still numerous untested airborne anomalies remaining that will be the focus of the 2008 field program. As well, a number of historical uranium occurrences were not surveyed during this program and will be included in next year's exploration work. These targets are similar to those covered in the 2007 program, and have the potential to become priority targets.

Wayne Isaacs, President and CEO of Delta Uranium, states that "the results of the ground survey program far exceeded our expectations and have raised the Kenora Uranium Project to a new level. The Company's focus will be to accelerate our current first phase programs in order to move the more promising targets to advanced exploration as quickly as possible. The potential of the Kenora Uranium Project is proving to be much greater than even we had anticipated, and I expect this to continue as we advance exploration and gain a better understanding of the area."

Owing to the encouraging results, a program of ground geochemical sampling was started in conjunction with the radiometric survey, and is expected to finish shortly. Rock samples, taking as individual "grab" samples or as continuous sampling along channels, will be used to further evaluate the anomalies in order to establish priority for a diamond drilling program expected to commence shortly. Detailed results from the ground survey will be announced in future press releases on a target-by-target basis.

The ground survey was carried out using calibrated, hand-held scintillometers on cut and/or flagged grids as well as high-density aerial surveys over specifc targets. The instruments measured total ionizing radiation as counts per second (CPS).

About the Kenora Uraniun Project

The Kenora property is comprised of 1,855 contiguous claims covering a total of 29,680 hectares located approximately 30 km east of the town of Kenora in Northwestern Ontario. Delta's property hosts an unusually large number of uranium occurrences, which coincide with a large uranium anomaly in lake-bottom sediments.

The Kenora properties are considered to have significant potential to contain uranium deposits as known basement rocks (leucogranitic peraluminous bodies) are favourable uranium hosts; and previous exploration has shown ubiquitous uranium mineralization, including one deposit which has seen limited mining development. In addition, the numerous unexplored airborne radiometric and geochemical anomalies identified by the current exploration program indicate a greater potential than was originally thought for the area.

Qualified Person

Exploration on the Company's Kenora Project is conducted under the supervision of David Palmer, Ph.D., P.Geo. (ON), a Qualified Person as defined under National Instrument 43-101. Dr. Palmer has read and approved this news release.

About the Company

Delta Uranium Inc. is engaged in the exploration of uranium the Kenora and Timmins areas of Ontario, Canada. The Company recently completed the acquisition of the Kenora uranium property and holds interest in additional uranium and gold properties in Ontario. Delta completed a non-brokered private placement raising gross proceeds of $8,833,000 on November 9, 2007. The common shares of the Company commenced trading on the TSX Venture EXchange on November 12, 2007.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy of this news release.

Contact Information