Delta Uranium Inc. (formerly WavePower Systems International Inc.)
TSX : DUR

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

June 26, 2008 09:30 ET

Delta Uranium Establishes New Assaying Protocol: New Assays Increase Grade For First Five Drill Holes at Richard Lake Uranium Deposit

TORONTO, ONTARIO--(Marketwire - June 26, 2008) - Delta Uranium Inc. ("Delta" or the "Company") (TSX:DUR) is pleased to announce that, as a consequence of the company having established a quality control program for uranium analysis, it has been found that the ICP method of analysis being used to date is inappropriate for precise determination of uranium content. All previously analysed drill core samples are now being re-analysed using the DNC (delayed neutron counting) assay method.

The first batch of new assays includes core samples from the first five drill holes on the Richard Lake uranium deposit on the company's 9,950 hectare Kenora property in northwest Ontario. The new assays show grades increasing between 33 percent and 66 percent over the grades calculated from ICP analyses.

The following table shows calculated average grades over the mineralized intervals in diamond drill holes RL07-001 to RL07-005. Beneath each line of new assays in the table is a second line showing the average grade using the former ICP analyses. There is also a third line showing results "previously reported in error". These erroneous averages were calculated in a spreadsheet which included a one-line displacement of the analytical results, which only became apparent when the new DNC assays were imported into the same spreadsheet.



Table 1: Revised Richard Lake Assays

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RICHARD LAKE ASSAY SUMMARY - revised June 24th 2008
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DRILL Dist- Core
HOLE ance Len- Ura- U3O8 U3O8 per-
No. from hole From To gth nium per- lbs/ cent
adit dip (m) (m) (m) (ppm) cent ton change
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-55
RL07- 55 m deg-
001 west rees 83.15 86 2.85 128 0.015 0.30 +33%
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using previous analyses 96 0.011 0.23
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previously reported
in error 82.40 86.00 3.60 87 0.010 0.20
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-65
RL07- 55 m deg-
002 west rees 30.00 32.35 2.35 211 0.025 0.50 +52%
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using previous analyses 139 0.016 0.33
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previously reported
in error 29.20 31.00 1.80 138 0.016 0.33
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-65
RL07- 33 m deg-
003 west rees 38.40 41.30 2.90 144 0.017 0.34 +66%
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using previous analyses 87 0.010 0.21
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previously reported
in error 38.00 38.40 0.40 167 0.020 0.39
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and 53.50 54.00 0.50 264 0.031 0.62 +54%
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using previous analyses 171 0.020 0.40
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previously reported
in error 41.30 41.70 0.40 171 0.020 0.40
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-55
RL07- 33 m deg-
004 west rees 53.00 59.35 6.35 130 0.015 0.31 +41%
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using previous analyses 92 0.011 0.22
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includes 53.00 54.00 1.00 501 0.059 1.18 +35%
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using previous analyses 370 0.044 0.87
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previously reported
in error 51.40 53.00 1.60 370 0.044 0.87
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--------------------------------------------------------------------------
-65
RL07- 12 m deg-
005 west rees 41.00 59.00 18.00 324 0.038 0.76 +39%
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using previous analyses 233 0.027 0.55
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previously reported
in error 44.35 58.00 13.65 238 0.028 0.56
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includes 46.20 48.00 1.80 1527 0.180 3.60 +38%
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using previous analyses 1101 0.130 2.60
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previously reported
in error 44.35 48.00 3.65 459 0.054 1.08
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and 51.30 53.00 1.70 326 0.038 0.77 +42%
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--------------------------------------------------------------------------
using previous analyses 228 0.027 0.54
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previously reported
in error 50.00 52.00 2.00 304 0.036 0.72
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and 55.65 59.00 3.35 381 0.045 0.90 +40%
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using previous analyses 272 0.032 0.64
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previously reported
in error 55.00 58.00 3.00 312 0.037 0.74
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and 84.60 85.55 0.95 113 0.013 0.27 +51%
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using previous analyses 75 0.009 0.18
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also 90.70 91.75 1.05 445 0.053 1.05 +34%
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previously reported
in error 90.00 90.70 0.70 332 0.039 0.78
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The initial step in the company's quality control program consisted of sending pulps of 80 previously analysed samples to be assayed using DNC and XRF (X-ray fluorescence) techniques. Both of these methods are certified assay methods, whereas the ICP-OES (inductively coupled plasma optical emission spectroscopy) method being previously used is a geochemical analytical technique. The correlation between DNC and XRF was excellent, but both sets of analyses differed significantly from the original ICP analyses. Repeat ICP analyses also differed from the first set of ICP results. The lack of precision of the ICP analyses is most prominent at low levels of uranium (less than 500 ppm), which is a more important consideration for Delta than for most uranium exploration companies. Delta is specifically exploring for large-tonnage, low-grade uranium deposits, using as a model the huge Rossing alaskite-hosted deposit in Namibia.

Wayne Isaacs, CEO of the Company states that, "The improved grades at Richard Lake demonstrate a greater potential to host a significant deposit. Given the improvements in grade from these five holes we anticipate further positive results from the rest of our samples now being analysed."

About the Kenora Uranium 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

Technical information in this news release has been prepared and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a director of the company and a Qualified Person as defined in NI43-101. Assays were performed by Activation Laboratories (ActLabs) using the DNC method.

About the Company

Delta Uranium Inc. is engaged in the exploration of uranium in 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 on May 20, 2008.

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

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