Powertech Uranium Corp.

Powertech Uranium Corp.

August 20, 2007 09:01 ET

Powertech Acquires Plum Creek Project in South Dakota

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 20, 2007) - POWERTECH URANIUM CORP. ("Powertech" or the "Company") (TSX VENTURE:PWE)(FRANKFURT:P8A) is pleased to announce that it has staked 165 mining claims on approximately 3,000 acres of federal minerals along the southern flank of the Black Hills Uplift in central Fall River County, South Dakota. Powertech has also filed a Notice Of Intent To Locate on a further 280 acres in the area. This uranium exploration project, named the Plum Creek Project, is approximately eight miles southeast of the town of Edgemont, South Dakota, where the Atomic Energy Commission operated a mill and a uranium buying station during the 1950's.

Uranium exploration at the Plum Creek Project was performed by the Tennessee Valley Authority ("TVA") in the 1970's. Powertech has acquired an extensive database covering most of TVA's exploration activities in the Edgemont District. A review of drilling results in the region identified mineralized sands within the Cretaceous Lakota Formation from depths of 400 to 530 feet below surface. One mineralized intercept observed in the data was 2.3 feet of 0.258% U3O8 at a depth of 526 feet below surface.

The Plum Creek Project is located 15 - 20 miles southeast of the Company's Dewey-Burdock Project, on which Powertech has initiated mine permitting activities. The Dewey-Burdock deposit contains National Instrument 43-101 compliant inferred uranium resources of 7.6 million pounds with an average grade of 0.21% U3O8, and is located in the well known Edgemont Uranium District.

Richard Clement Jr., President and CEO, comments, "We at Powertech are very excited about the acquisition of the Plum Creek claims. This new project falls in line with our stated corporate mandate of acquiring only properties with a high potential for future uranium development. Again, we have utilized our extensive historical exploration data base to identify an area that has all the characteristics to host significant deposits. The Plum Creek Project, along with our two other advanced exploration projects at Dewey Terrace and Aladdin, adds to our pipeline of quality exploration properties. As we advance these projects, we believe that they may enable the company to define additional resources to be permitted for future development to follow Dewey Burdock and Centennial, which we believe are two of the best new uranium projects being developed in the United States."

This news release has been reviewed and approved by Mr. Richard Clement, President and CEO of Powertech, under whose direction the company's operations are being carried out. Mr. Clement, P.Geo., 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: (1) future exploration prospects, and (2) the development potential of its existing projects. 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 Venture 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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