Magnum Uranium Corp.

Magnum Uranium Corp.

October 17, 2005 14:41 ET

Magnum Stakes Uranium Property in Washington

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 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 22 lode mining claims at the site of the historic Bond Uranium Property ("Bond"), Ferry County, Washington. Magnum's claims cover the Bond, as well as its northwest and southeast extensions of potential mineralization, all along the east flank of the Kettle Dome, 5 miles west of Kettle Falls.

Uranium mineralization at the Bond, originally recognized in the 1950's as occurring in massive quartz-feldspar sills up to 50 feet thick, crops out in north-to-northwest-trending ridges and horizons along the east slope of Bisbee Mountain. Results of recent field work conducted by Magnum geologists indicate that this mineralized "sill" material actually constitutes a phosphate-rich horizon that lies stratigraphically below a major amphibolite unit and that some of the mineralization may, in part, be unconformity-related. Samples of uraninite- and uranophane-bearing, phosphate-rich material from prospect pits and dumps developed on the Bond by Northwest Prospectors in the late 1950's contain up to 1.70% U3O8. Selected samples taken by Magnum geologists assay between 0.36% and 0.50% U3O8.

The possibility that the Property has significant size potential is indicated by the results of a detailed helicopter-supported airborne radiometric survey of the area conducted in the late 1970s by Bendix Field Engineering Corporation for the U.S. Department of Energy's National Uranium Resource Evaluation ("NURE") Program. Specifically, results of the survey show the Bond to be part of a larger, continuous zone of anomalous radioactivity that extends one and one-half miles northwest and southwest of the prospect. Results of preliminary field investigations indicate that this radioactivity zone is, in part, coincident with the newly-identified, uranium-bearing, phosphate-rich horizon.

The Company

Magnum is a Vancouver-based mineral 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.


Craig T. Lindsay, President & CEO

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