SOURCE: Market Pulse

May 22, 2008 08:30 ET

Market Pulse Breaking News Alert for Thursday, May 22, 2008: BCFT -- Bancroft Sees Optimistic Long-Term Future for Uranium as It Continues to Be One of the Most Viable Alternatives to Fossil Fuels!

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Market Pulse.

ATLANTA, GA--(Marketwire - May 22, 2008) - Market Pulse News Alert for this AM, Stocks to Watch are: Bancroft Uranium Inc. (OTCBB: BCFT), Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF), DryShips Inc. (NASDAQ: DRYS) and Kentucky USA Energy Inc. (OTCBB: KYUS).

Investors need to be watching Bancroft Uranium Inc. (OTCBB: BCFT) this AM! Bancroft Uranium is an emerging mining company focused on the exploration and development of previously identified, historically significant, yet undeveloped known uranium properties. Bancroft controls an extensive regional play totaling over 9,000 acres of mineral claims in Ontario, Canada that are prospective for uranium. 2,700 acres are currently under lease and being explored at the Monmouth Project (two hours north of Toronto). The Monmouth Uranium Project is envisioned to have the potential of a low cost, open pit uranium producer located close to infrastructure and end product buyers. Uranium was discovered at this prospect in the early 1950s when prices were less than $10.00 per pound. The Bancroft area is well known for its long history in uranium mining, having produced a total of 14,862,653 lbs U3O8 between 1956 and 1982 from four local mines. In 1968, an engineering report by S.W. Evans was filed as a listing prospectus to the Toronto Stock Exchange for Northern Nuclear, the owner at that time. The report estimated from drill results the potential of 2 million tons containing 0.045% (0.9 pounds per ton) or 1,800,000 pounds of U3O8. Bancroft commenced a 2008 surface diamond drilling program on February 25th that was designed to drill in areas that returned historic drill results from the 1968 program. Once the drill program is complete, engineers will undertake a geological report which will ultimately lead to a uranium resource calculation of the in-situ tons and contained pounds of uranium. The company has also begun early stage efforts in the Long Lac area and the prolific Elliot Lake Uranium camp. Recent unprecedented rises in the price of Uranium have been over $90 per pound recently with extraordinary fluctuations exceeding $135/lb. These prices reflect a 1000% increase over the past 7 years -- with most of these gains occurring within the past 2 years. Currently, 439 active reactors, 34 new power reactors are under construction and 304 plants are on order/planned or proposed. Existing global supply does not meet current demand thereby creating significant opportunities for long-term growth. The company is led by a highly skilled and experienced board with noteworthy success in managing mineral exploration projects from early stage to production. Bancroft Uranium is poised to become a significant player in the uranium industry! Bancroft Uranium just had excellent news out in a press release before today's opening bell announcing comments on what the company perceives as an optimistic long-term trend for the uranium market! Bancroft also said it sees a long-term future for the price of uranium as it continues to be one of the most viable alternatives to fossil fuels! Investors should be watching this one closely!

Bancroft Uranium Inc. (OTCBB: BCFT) comments on what the Company perceives as an optimistic long-term trend for the uranium market. As the prices of oil, natural gas and other hydrocarbon energy sources soar, nuclear power is becoming one of the few options for the supply of clean, reliable energy in the world today.

Oil prices traded above $129 a barrel recently after hitting another record high as supply concerns mounted, selling for about twice what they were just a year ago. Prices have been propelled by worries about insufficient supply, soaring global demand and a sliding U.S. dollar that has made oil cheaper for many overseas buyers. Industry observers in recent days have also pointed to especially strong demand for diesel in China, where power plants in some areas are running desperately short of coal and certain earthquake-hit regions are reliant upon diesel generators for power.

Bancroft sees a long-term future for the price of uranium as it continues to be one of the most viable alternatives to fossil fuels. Today there are some 439 nuclear power reactors operating in 30 countries. In 2006 these reactors provided 2658 billion kWh, about 16% of the world's electricity. 34 power reactors are currently being constructed in 11 countries, notably China, South Korea, Japan and Russia. With this scope of on-going construction, supply factors should soon affect the uranium market.

Only 64% of utilities' annual requirements are supplied by mine production with the balance made up from secondary sources or stockpiled uranium held by utilities. These stockpiles are reported to be largely depleted. The perception of imminent scarcity drove the "spot price" for un-contracted sales to over US$135 per pound U3O8 in 2007, but it has settled back to $70-80 as of early 2008. Most uranium however, is supplied under long term contracts and the prices for new contracts have in the past reflected a premium above the spot market.

The long-term view for uranium pricing is dominated by demand fueled by future growth of new power plant requirements and the stagnant state of world mining production which needs to expand significantly. As Canada is a world leader in the safe and efficient production of uranium to meet the world's energy needs, Bancroft is poised to become a part of this important industry with the development of the Monmouth Uranium Project.

For inquiries from the public and media concerning the Monmouth Uranium Project please contact Greenspirit Strategies at 1-877-54 GREEN or 1-877-544-7336. For shareholder and investor information please contact investor relations at 1-866-860-2995.

About Bancroft Uranium Inc.

Bancroft Uranium Inc. is an exploration company which intends to develop Uranium assets in North America. Bancroft's initial asset, the Monmouth Uranium Project is envisioned to have the potential of a low cost, open pit uranium producer located close to infrastructure and end product buyers. To find out more about Bancroft Uranium Inc., visit the website at

Stocks in the news and acting well as of late include: Solarfun Power Holdings Co. Ltd. (NASDAQ: SOLF), DryShips Inc. (NASDAQ: DRYS) and Kentucky USA Energy Inc. (OTCBB: KYUS).

Information contained herein is the opinion of ("MP") and is intended to be used strictly for informational purposes. You should be aware that MP attempts to assure itself of the accuracy of the information contained in the analyses it publishes. In this regard, MP does, at times, rely on the accuracy of information supplied to it by the companies which are the subject of MP's analyses and/or parties related to those companies. MP also relies on the accuracy and integrity of information that is contained in company press releases and reports filed with the SEC. The companies mentioned in this publication have not approved the content or timing of the information being published unless otherwise noted.

MP, because it relies on information supplied by various third parties disclaims any responsibility for the accuracy of such information. Any investor considering making an investment in any security which has been the subject of a MP analysis or opinion should, before making any such investment, consult with his/her market professional and/or do his/her own independent research regarding the company which is the subject of an MP opinion, recommendation or analysis. Information regarding companies which MP has opined upon is normally available from many sources including the subject company's filings with the SEC and various press releases issued by the company.

You should be aware that MP is often compensated for issuing analyses, recommendations or opinions concerning particular companies. Its opinion is therefore not unbiased and you should consider this factor when evaluating MP's statements regarding a company. MP has been compensated seventy five thousand dollars from a third party for its coverage of Bancroft Uranium Inc. MP's officers and directors reserve the right to buy additional shares of the companies discussed in this opinion and may profit in the event those shares rise in value. When MP receives shares as compensation for a profiled company, MP may sell part or all of any such shares during the period in which MP is performing such services. and Market Pulse Breaking News Alert are owned by Market Pulse LLC.

Contact Information