Powertech Uranium Corp.

Powertech Uranium Corp.

December 12, 2008 09:00 ET

Powertech Acquires Additional Lands in South Dakota and Wyoming

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2008) - POWERTECH URANIUM CORP. ("Powertech" or the "Company") (TSX:PWE)(FRANKFURT:P8A) is pleased to announce that it has acquired additional lands in South Dakota and Wyoming from Bayswater Uranium Corporation ("Bayswater"). The land package consists of 381 mining claims and 8,186 acres of Wyoming State mining leases for a total 15,806 acres.

South Dakota: There are a total of 59 located claims (1,180 acres) in Fall River and Custer Counties, of which 39 claims (780 acres) are adjacent to the Company's Dewey Burdock project. These 39 claims will be included in Powertech's mine permit applications scheduled to be filed by year end 2008.

Wyoming- Aladdin: This land package consists of seven Wyoming State mining leases in Crook County, Wyoming totaling 5,626 acres. These properties are either adjoining, on trend, or complementary to Powertech's Aladdin project.

Wyoming- Dewey Terrace: There are a total of 322 located claims (6,440 acres) and four Wyoming State mining leases (2,560 acres) in Weston and Niobrara Counties, Wyoming. These properties are either adjoining, on trend, or complementary to Powertech's Dewey Terrace project.


Powertech has paid $50,000 USD at closing.

Powertech has committed to Bayswater to maintain all properties for a full year.

On any property to be dropped, Powertech will give Bayswater a 90-day notice in accordance with its right to reacquire the property. Bayswater will retain a Yellowcake Royalty on all properties ranging from 1-5%, depending on underlying royalty agreements inherited, to a maximum of 7% burden to Powertech.

Richard F. Clement Jr., President and CEO, states, "The acquisition of the Bayswater properties complements the strong land positions that Powertech has compiled in South Dakota and Wyoming. Powertech is the most active player in the Dewey Burdock, Dewey Terrace, and Aladdin areas. The Company has focused on this historic uranium exploration/mining district along the flank of the Black Hills Uplift in South Dakota and Wyoming."

This news release has been reviewed and approved by Mr. Clement, President and CEO of Powertech, under whose direction the Company's operations are being carried out. Mr. Clement, P.G., MSc. is a Qualified Person as defined by National Instrument 43-101.

About Powertech Uranium Corp.

Powertech Uranium Corp. is a Denver-based mineral exploration and development company that holds the Dewey-Burdock Uranium Deposit in South Dakota, the Centennial Project in Colorado and the Dewey Terrace and Aladdin Projects in Wyoming. The Company's key personnel have over 200 years of experience in the uranium industry throughout the United States, and have permitted more than a dozen in-situ operations for production. For more information, please visit http://www.powertechuranium.com/.


Richard F. Clement Jr., President & CEO

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's development schedule at Dewey Burdock. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with uranium exploration, (3) a decreased demand for uranium, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) inability to obtain all necessary environmental and regulatory approvals, (9) an increase in the number of competitors with larger resources, and (10) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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