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

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

July 03, 2008 12:56 ET

Delta Uranium Reports Preliminary Drill Results at Ely Lake

TORONTO, ONTARIO--(Marketwire - July 3, 2008) - Delta Uranium Inc. ("Delta" or the "Company") (TSX:DUR) is pleased to announce the results of the first three diamond drill holes to test the Ely Lake Zone ("Ely Lake") forming part of the Company's 100% owned Kenora Uranium Project in Northwestern Ontario. Results from the 3 diamond drill holes totaling 558 metres are summarized in the table below.

Drill hole EL08-001 intersected 15.50 metres averaging 312 ppm U3O8 (0.62 pounds/ton), and EL08-004 cut 56 metres of 72 ppm U3O8 (0.14 pounds/ton), including three sections with 10.00 metres of 105 ppm U3O8 (0.21 pounds/ton), 9.00 metres of 112 ppm U3O8 (0.22 pounds/ton) and 9.00 metres of 125 ppm U3O8 (0.25 pounds/ton). The three holes tested a 104-metre length of the east-northeast trending zone, which consists of a pegmatite dyke which has been traced for 600 metres (see Map 1 below). The results of the remaining 2 drill holes totalling 350 additional metres at Ely Lake, which have been sampled and sent for assay, will be published as soon as they are available.

In addition, channel samples have been taken at a number of locations at Ely Lake where it was not practicable to drill, and at the west end of the Nixon lake anomaly, where they extended an area channel-sampled in 2007 (see news release dated January 7, 2008), but assay results have not yet been received.

The following table gives details of the mineralized intersections in the three drill holes. Averages were calculated using an across-the-zone cutoff of 50 ppm U.



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ELY LAKE DDHS EL08-001 TO 003 ASSAY SUMMARY
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DRILL (i)Core Ura- U3O8 U3O8
HOLE Section Hole hole From To Length nium U3O8 per- lbs/
No. Line Azimuth dip (m) (m) (m) (ppm) (ppm) cent ton
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330 -45
deg- deg-
EL08-001 000 rees rees 53.65 69.15 15.50 264 312 0.031 0.62
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and 89.50 93.50 4.00 71 84 0.008 0.17
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150 -45
deg- deg-
EL08-003 104m E rees rees 150.00 151.00 1.00 203 240 0.024 0.48
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150 -80
deg- deg-
EL08-004 19m E rees rees 17.00 73.00 56.00 61 72 0.007 0.14
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includes 18.00 28.00 10.00 89 105 0.011 0.21
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(includes) 18.00 23.00 5.00 117 138 0.014 0.28
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and 34.00 43.00 9.00 95 112 0.011 0.22
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(includes) 38.00 43.00 5.00 135 159 0.016 0.32
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and 48.00 57.00 9.00 106 125 0.013 0.25
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(i) The true widths of the mineralized intersections are not known because
there has been insufficient drilling to establish the geometry of the
zone.


Wayne Isaacs, CEO of the Company states that, "we are excited to report our first set of findings from the Ely Lake Anomaly and look forward to reporting more from this expanding area of the Kenora Uranium project over the coming months. Our summer exploration program is now well under way and we are looking forward to releasing further results throughout the project area as they become available."

Please note: Map 1 is available at the following link:

http://media3.marketwire.com/docs/dur703.pdf

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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