Pathfinder Resources Ltd.
TSX VENTURE : PHR

Pathfinder Resources Ltd.

March 31, 2006 07:45 ET

Pathfinder Resources Acquires 100% Interest in New Thelon Basin Property; 96,000 Acre Uranium Property Hosts Widespread Radioactive Boulders and Major Fault Zone

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 31, 2006) - Pathfinder Resources Ltd. (TSX VENTURE:PHR) reports that it has acquired a 96,000 acre exploration property for uranium in the Thelon Basin, Northwest Territories. The new property, known as the CL Claim Block, is located adjacent to the west border of the 1.2 million acre Thelon Uranium Project the Company is currently exploring, as well as contiguous to land held by Cameco Corporation (TSX:CCO) and Uravan Minerals Inc. (TSX VENTURE:UVN).

"This new ground covers an accumulation of radioactive sandstone boulders which coincides with a portion of the Howard Lake Structural zone, one of the major faults that cuts through the south Thelon Basin," stated Pathfinder President, Victor Tanaka. "As a result of this strategic acquisition, we will be further expanding our upcoming MEGATEM II geophysical survey to 8,000 line-kilometres to include this highly prospective region."

In 1980, Gulf Minerals Canada Ltd. drilled a diamond hole just off the west boundary of the CL Claim Block and recorded a radioactive peak of 370 cps (counts per second) at the unconformity at a depth of 253 metres. The Company considers this finding to be encouraging for the area.

Pathfinder's 100% interest in the CL Claim Block was acquired from a private company for $63,000, subject to a 1% Gross Overriding Royalty, as part of the staking program announced on December 19, 2005. The Company elected to take 100% interest in the CL Block instead of a 50% interest in three claims. A property map of the south Thelon Basin uranium region can be viewed at www.pathfinderresources.com/Projects/Projects.htm.

About Pathfinder Resources Ltd.

Pathfinder Resources is a mineral exploration company focused on the discovery of economic uranium deposits. Pathfinder is exploring the largest property in the Thelon Basin, NWT, for high-grade uranium deposits, a region geologically similar to the Athabasca Basin located 300 kilometres south. The Company's other uranium interests include a 100% interest in 88,000 acres in the Hermitage Uranium Belt of Newfoundland, and a 33% partnership in a uranium syndicate formed to acquire prospective uranium properties in Central America. Shares of Pathfinder are listed on the TSX Venture Exchange with the symbol "PHR". For further information visit the Company's website at www.pathfinderresources.com.

Victor A. Tanaka, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information