Magnum Uranium Corp.
NEX BOARD : MM.H

Magnum Uranium Corp.

October 20, 2005 12:10 ET

Magnum Stakes Nancy Creek Uranium Property in Northeastern Washington

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2005) - Magnum Uranium Corp. ("Magnum") (NEX BOARD:MM.H) is pleased to announce that its wholly owned subsidiary, Magnum Minerals USA Corp., has recently completed the staking of 20 lode mining claims in the historic Nancy Creek Uranium District ("Nancy Creek"), Ferry County, Washington. Nancy Creek is host to a number of quartz-feldspar-apatite segregation uranium occurrences that lie on the eastern flank of the Kettle Dome, approximately 5 miles northwest of Kettle Falls, Washington.

Nancy Creek uranium occurrences and prospects exist within a phosphate-rich horizon stratigraphically beneath a major amphibolite unit. Results of preliminary work by Magnum geologists indicate that the contact between these two rock units may, in part, be a structural zone and possible unconformity where uranium mineralization was concentrated. The Nancy Creek occurrences are immediately north of and on trend with uranium mineralization found at Magnum's recently staked Bond Uranium Prospect, also in the phosphate-rich horizon.

Surface samples taken by Magnum geologists from prospects and dumps scattered along the district's two-mile-long northerly trend of mineralization assay in the range of 0.10% to 0.95% U3O8. Detailed geological mapping, geochemical sampling, and ground radiometric surveying is planned to further delineate the extent of mineralization and evaluate the district's overall size potential.

The Company

Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets. Currently, the Company's primary exploration assets are located in the Western United States, with properties in Idaho, Utah, and Washington.

ON BEHALF OF THE BOARD

Craig T. Lindsay, President & CEO


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