Powertech Uranium Corp.

Powertech Uranium Corp.

February 27, 2008 08:31 ET

Powertech Completes 10 Hole Coring Program at Dewey-Burdock Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2008) - Powertech Uranium Corp. (TSX:PWE)(FRANKFURT:P8A) ("Powertech" or the "Company") is pleased to announce the results of the 10-hole coring program that was conducted this fall at the Dewey-Burdock project, in southwestern South Dakota. Powertech has previously reported a NI 43-101 inferred resource of 7.6 million pounds of uranium within the project area, averaging 0.21% eU3O8 (see the Company's NI 43-101 technical report on SEDAR at www.sedar.com). These resources have been delineated by historical drilling along mineralized trends associated with oxidation/reduction boundaries within sandstones of the Fall River and Lakota Formations of the Inyan Kara Group.

A total of 407 feet of core was recovered from the mineralized sands in four separate resource areas. The coring was planned to intercept various parts of these uranium roll front deposits and to obtain samples of mineralized sandstone for chemical analyses and for metallurgical testing. Six holes were cored in the Fall River Formation and four holes were cored in the Lakota Formation. Well mineralized uranium zones were recovered. Chemical analyses of the uranium mineralization showed a good correlation between chemical assays and down-hole radiometric results, indicating the uranium deposits are in equilibrium. A listing of the uranium values in these core holes, as determined by down-hole radiometric logging, is summarized below.

Six core holes from the Fall River Formation:

Depth 1/2-foot
Core Hole No. (ft) Total mineralized intercept GT intercept
------------- ----- --------------------------- ----- ------------

DB 07-29-1C 579.5 12.5 feet of .150% eU3O8 1.88 0.944% eU3O8
DB 07-32-1C 589.5 5.0 feet of .208% eU3O8 1.04 0.774% eU3O8
DB 07-32-2C 582.5 16.0 feet of .159% eU3O8 2.54 0.902% eU3O8
DB 07-32-3C No mineralized sand recovered
DB 07-32-4C 559.0 13.0 feet of .367% eU3O8 4.765 1.331% eU3O8
DB 08-32-9C 585.5 10.5 feet of .045% eU3O8 0.47 0.076% eU3O8

Four core holes from the Lakota Formation:

Depth 1/2-foot
Core Hole No. (ft) Total mineralized intercept GT intercept
------------- ----- --------------------------- ---- ------------

DB 07-11-4C 432.5 6.0 feet of .037% eU3O8 0.22 0.056% eU3O8
DB 07-11-11C 429.5 7.0 feet of .056% eU3O8 0.40 0.061% eU3O8
DB 07-11-14C 415.0 9.0 feet of .052% eU3O8 0.47 0.126% eU3O8
DB 07-11-16C 409.0 3.5 feet of .031% eU3O8 0.17 0.041% eU3O8

Tests of physical parameters for permeability and porosity of the mineralized sands and overlying and underlying clays were also performed. These analyses for seven core samples of mineralized sandstones showed favorable high horizontal permeabilities - ranging from 449 to 3207 milidarcies. These horizontal permeabilities within the mineralized zones allow for favorable solution flow rates for ISR production. Analyses on confining units, above and below the sands, showed very low vertical permeabilities - ranging from 0.007 to 0.697 milidarcies. Low vertical permeabilities in the confining units help to isolate solutions within the mineralized sand during ISR mining and restoration operations.

Bottle roll leach amenability tests were conducted on four intervals taken from two of the core holes. The core was leached with a sodium bicarbonate solution and hydrogen peroxide was added as an oxidizing agent. One interval represented low grade ore at 0.067% and the other three intervals represented ore ranging from 0.14% to 0.74%. Analytical results of the resulting leach solution indicated leach efficiencies ranging from 59% to 90%. These results are consistent with other successful ISR operations. A second method using "tails analysis" indicated efficiencies ranging from 71% to 98%. Peak recovery solution grades ranged from 414 mg/L to 1654 mg/L. These preliminary leach tests indicate that the uranium deposits at Dewey-Burdock are readily mobilized in oxidizing solutions and ideal for ISR mining.

Richard F. Clement, Jr., President and CEO, stated, "We are extremely pleased with the results from our coring and bottle roll leaching program for Dewey-Burdock. The drilling and coring program confirms the data that the Company acquired upon securing the leases for the project. We continue to be encouraged by all results at Dewey-Burdock. The above results will be incorporated into comprehensive ISR production permit applications to be submitted by Powertech to the appropriate regulators."

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 operations and development plans 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 has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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