Pitchstone Exploration Ltd.
TSX VENTURE : PXP

Pitchstone Exploration Ltd.

May 08, 2008 08:00 ET

Pitchstone Exploration Ltd.: Namibia 2008 Uranium Exploration Initiated

- Radon surveying for calcrete hosted targets at Dome - Drill permits finalized for Rossing style targets at Dome - Mapping, geochemistry and prospecting at Kaoko

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 8, 2008) - Pitchstone Exploration Ltd. (TSX VENTURE:PXP) (Pitchstone) is pleased to provide an update on exploration currently under way in Namibia. Pitchstone has an option to earn up to an 80% interest from Manica Minerals Ltd. in three properties that cover approximately 500,000 ha. Exploration in 2008 is being conducted on the Dome and Kaoko properties.

Dome

The Dome property is located in west central Namibia approximately 70 km southwest of the Rossing deposit and 65 km southwest of the Langer Heinrich deposit. Rossing is situated at the margin of an elliptical structural dome mantled with meta-sediments. The main target on the Dome property is a covered, elliptical shaped, 5 km long geophysical feature that is very similar in size, shape, geophysical expression and interpreted geology to that at Rossing. A RadonX™ radon survey completed in 2007 for Pitchstone has outlined several anomalous zones around the margin of the elliptical feature at Dome. Drilling permits for the area have been received and discussions are in progress with potential drilling contractors.

Dome is also prospective for calcrete hosted uranium deposits similar to that at Langer Heinrich. Currently, radon surveying is being carried out over the north portion of the licences in proximity to airborne radiometric anomalies in order to locate calcrete hosted mineralization beneath gravel plains.

Kaoko

At the Kaoko property in northern Namibia, a program of mapping, geochemical sampling and scintillometer prospecting is being conducted to follow up on anomalous results of radon surveying completed in 2007. The target is sediment hosted mineralization in Karoo strata.

Steve Blower, P.Geo., Vice President of Exploration for Pitchstone, is the Qualified Person for the purposes of NI 43-101 with respect to the technical information in this news release.

Pitchstone is actively exploring for uranium in four proven districts. The property portfolio features ten projects in the eastern Athabasca Basin, Saskatchewan, five of which are joint ventured with Uranium One and five being 100% owned. In addition, there are four joint venture projects with Triex Minerals in the Hornby Bay Basin, Nunavut, an exploration partnership with Cameco and Motapa Diamonds in the Franceville Basin, Gabon, and an option on three projects in Namibia. Pitchstone has a unique group of geologists with extensive uranium exploration and production experience.

On behalf of the Board,

E.A.G. (Ted) Trueman, CEO and Director

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond Pitchstone's control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.

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

Contact Information

  • Pitchstone Exploration Ltd.
    Steve Blower
    VP Exploration
    (604) 630-5563
    or
    Pitchstone Exploration Ltd.
    Mark T. Brown
    CFO
    (604) 687-3520
    Website: www.pitchstone.net