February 26, 2007 12:56 ET

Ditem Explorations/Cree Lake : V-Tem Survey Underway

MONTREAL, QUEBEC--(CCNMatthews - Feb. 26, 2007) - Ditem Explorations (TSX VENTURE:DIT) (FRANKFURT:D8X) reports that the company has signed a contract with GEOTECH LTD. of Aurora, Ontario, to carry out a helicopter-borne time domain electromagnetic - magnetic V-TEM survey of the company's Cree Lake property situated in the south-western portion of the Athabasca basin in Saskatchewan. Surveying of the property has started and it is hoped that an early completion of the survey will allow ground follow-up of the lake covered parts of the property to be carried out this spring if warranted.

The Cree Lake Property comprises 20 mining claims totalling 83,070 ha. located 40 kilometres north the Key Lake mine site. The property lies between the main northeast - southwest trend of Uranium discoveries (Key Lake, McArthur River, Cigar Lake, Midwest, JEB, Rabbit Lake, McClean Lake, Collins Bay and Eagle Point.) to the southeast near the southeast border of the basin and the parallel fairly well explored Cable Bay Shear Zone that adjoins the northwest boundary of the property.

Athabasca Basin uranium deposits are described as 1) "unconformity style" deposits which occur at an unconformity consisting of Athabasca sediments overlying crystalline basement rocks 2) "perched-sandstone" deposits above the unconformity and 3) "deep basement hosted" deposits below the unconformity. The latter two types of deposit are suggestive of a strong structural control.

Parts of the Cree Lake property were the object of uranium exploration by several companies in the 1970s and 80s. There are no records of drilling on the property but work included (boulder) prospecting, soil and lake sediment sampling, airborne radiometric surveying, some widely spaced gravity and magnetic measurements on lake shores, and follow-up radon and VLF-EM surveys. Elevated U values from the various surveys were ascribed to concentrations of pegmatite and granite boulders in the till. A marine seismic survey over parts of the property in 1978 did not detect the sub-Athabasca unconformity. An airborne EM and electromagnetic survey (INPUT) and follow-up Fixed Loop Time Domain EM surveys (Crone DEEPEM) in 1985 led to the conclusion that the Athabasca Group sandstone thickness was probably greater than 400m. A hole drilled on the Cable Bay Shear Zone, 8 kilomtres north of the property, reached the sub-Athabasca Group unconformity at 872.7m. The total thickness of the Athabasca Group sediments within the property is probably within the range of 400 m to 800 m.

Regional magnetic surveys show magnetic highs (basement granitic rocks?) dominating the northwest side of the Cree Lake property but the highs are broken by narrow lows (fractures?) and are flanked by broad lows (basement sediments?).

Ditem believes that the V-TEM survey which is capable of deeper penetration than that of previous surveys of the property and will detect conductors that may occur at the favourable sub-Athabasca unconformity. A budget of $1.8 million has been proposed which includes the V-Tem survey ($400,000), ground follow-up ($160,000) and 7,500 m of drilling ($1,240,000) if warranted.

Director Raymond Davies, Ph.D., P. Eng., is the designated Qualified Person responsible for the preparation of this release.

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

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