Great Bear Uranium Corp.
CNQ : GTBR

Great Bear Uranium Corp.

January 23, 2008 13:25 ET

Great Bear Uranium and Fission Energy Commence Drilling at Duddridge Lake Uranium Project, Saskatchewan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 23, 2008) - Great Bear Uranium Corp. (the "Company" or "Great Bear") (CNQ:GTBR) and its partner Fission Energy Corp. ("Fission") are pleased to announce the completion of their Phase I exploration program and the commencement of a 1,400 meter drilling program at the Duddridge Lake Uranium Project in northern Saskatchewan. Great Bear has an option to earn up to a 60% interest in the project with Fission acting as project operator (see NR dated May 31, 2007).

The Duddridge Lake Project comprises eleven claims totaling approximately 36,274 hectares and is located about 80 kilometers northwest of La Ronge, Saskatchewan. The property is situated along the eastern margins of the Wollaston basement domain, which is host to a number of significant uranium occurrences in the eastern part of the Athabasca Basin, Saskatchewan, including the 40+ million pound Millennium Deposit discovered by Cameco Corporation.

A National Instrument 43-101 compliant resource calculation for the Duddridge Lake uranium deposit identified an inferred mineral resource (Fraser, 2007) totalling 227,880 tonnes at an average grade of 2.14 lbs per tonne U3O8 (approx. 487,000 pounds).

The Joint Venture recently completed Phase I exploration activities as follow-up work on the anomalies defined by an airborne VTEM survey flown by GeoTech Ltd. of Aurora, Ont. in late 2006. A reconnaissance orientation soil sample survey and mapping over the higher priority areas of interest were completed in preparation for a winter drilling program. A total of 61 soil samples were collected and sent to Loring Laboratories Ltd. of Calgary, Alberta for 30 element ICP analysis. Several anomalous samples were returned including a high value of 119.9 ppm uranium.

A 10 hole drill program totalling 1,400 meters has been signed with White Bear Mining Services of Edmonton, Alberta. The program is designed to confirm existing mineralization, expand the known resource along strike and identify potential new discoveries of mineralization. Collar locations have been refined by integrating results from the Phase I exploration activities. All holes will be drilled at an angle and surveyed at completion for radioactivity with a Mount Sopris 2PGA-1000 poly-gamma downhole probe. Drill core will be split and sent to SRC Analytical Laboratories for analysis. Results will be provided when available.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the Company by Jody Dahrouge, P.Geol., of Dahrouge Geological Consulting Ltd., Edmonton, Alta, a qualified person.

ABOUT GREAT BEAR URANIUM

Great Bear Uranium Corp. is a well financed mineral exploration company focused on the strategic acquisition, exploration, and development of uranium properties. The Company has assembled a strong portfolio of projects in some of Canada's foremost uranium producing and exploration regions - the Athabasca Basin, Thelon Basin, and Uranium City Mining District - and is well positioned to discover new sources of supply. Great Bear's shares are listed on the CNQ exchange under the symbol "GTBR".

This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

ON BEHALF OF THE BOARD

Wan Jung, President

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

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