Magnum Uranium Corp.

Magnum Uranium Corp.

December 05, 2006 18:00 ET

Magnum Clarifies Reported Resource

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 5, 2006) - Magnum Uranium Corp. (TSX VENTURE:MM) -

In a news release on December 5, 2006, the Company made the following statements - "Present resources for the two properties, as determined during due diligence, total 3.05 million pounds of uranium."

The Company would like to clarify that 2.037 million pounds of uranium are a historic resource and has not been verified by a qualified person and should not be relied upon.

The disclosures of the additional 1.013 million pounds of uranium are not compliant with NI43-101 and they are hereby retracted.

The Company

Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, Magnum's primary property holdings are mainly located in the Western United States, specifically Wyoming, Utah, Idaho, and New Mexico, as well as Canada's Athabasca Basin.

Dr. John Carden, Ph.D., P.Geo., a Director and Consulting Geologist for Magnum Uranium Corp., and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.


Craig T. Lindsay, President & CEO

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