Delta Uranium Inc.

Delta Uranium Inc.

July 03, 2012 16:42 ET

Delta Uranium Update

TORONTO, ONTARIO--(Marketwire - July 3, 2012) - Delta Uranium Inc. (TSX VENTURE:DUR.H) (the "Company") announces that further to the financial assistance received from Augustine Ventures Inc. ("Augustine") (CNSX:WAW), after preliminary negotiations, it has issued to Augustine a secured promissory note in favour of Augustine for the principal amount of $306,415. The note bears interest an annual interest rate of 12% and is payable on demand. The principal amount and all accrued interest payable under the note is secured by a pledge by Delta of the 3,810,000 common shares in the capital of Augustine held by Delta. Delta is a related party to Augustine by virtue of a common director, officer and of its shareholdings of Augustine.

Delta continues to hold negotiations with Augustine with respect to the repayment of the principal amount. The negotiations are being undertaken by independent directors of both Augustine and Delta. Further updates will be provided when available.

Cautionary Note Regarding Forward-looking Statements

Certain statements contained in this news release may constitute forward-looking information, within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in Delta's public filings, Forward-looking information and anticipated events or results and can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to capital and operating expenditures, economic conditions, availability of sufficient financing, receipt of approvals, satisfaction of closing conditions and any and all other timing, development, operational, financial, economic, legal, regulatory and/or political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other public filings of Delta, and include the ultimate availability and final receipt of required approvals, sufficient working capital for development and operations, access to adequate services and supplies, availability of markets for products, commodity prices, foreign currency exchange rates, interest rates, access to capital markets and other sources of financing and associated cost of funds, availability of a qualified work force, availability of manufacturing equipment, no material changes to the tax and regulatory regime and the ultimate ability execute its business plan on economically favourable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other Delta filings at and other unforeseen events or circumstances. Other than as required by law, Delta does not intend nor undertake any obligation to update any forward looking information to reflect, among other things, new information or future events.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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