Powertech Uranium Corp.

Powertech Uranium Corp.

April 19, 2007 02:00 ET

Powertech Retains R Squared Incorporated for Centennial Project Permitting

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 19, 2007) - POWERTECH URANIUM CORP. ("Powertech" or the "Company") (TSX VENTURE:PWE)(FRANKFURT:P8A) is pleased to announce that, through its wholly owned subsidiary, Powertech (USA) Inc., it has entered into a contractual arrangement with R Squared Incorporated (R2), a respected Denver based environmental engineering firm, for the purpose of permitting Powertech's Centennial Project located in Weld County, Colorado. The agreement with R2 covers baseline data collection, environmental impact analysis, cost/benefit analysis and preparation of permit/license applications. R2 will work in conjunction with and under the supervision of Powertech's highly qualified management team, specifically Mr. Richard Blubaugh, Vice President of Health, Safety, and Environmental Resources for the corporation. The contract period extends from the present to the end of 2009.

The Centennial Project, located in western Weld County, Colorado, consists of three separate planned mining operations. The first planned mining area is located in the southern portion of Powertech's landholdings which may be developed as a sand and gravel operation. The second planned operation is the development of the uranium deposit which underlies the sand and gravel. The third planned mining operation is located on the northern portion of the Centennial Project. R2 has prepared a comprehensive action plan, critical path schedule and budget to take each aspect of the project through to production readiness. R2 and its team of multidisciplinary engineers and environmental consultants will be evaluating mine design issues for each of the three planned operations, as well as performing the environmental and technical studies required by the regulatory authorities for Weld County, the State of Colorado and the U.S. EPA. R2 expects to have the permit and license applications ready to submit by the end of 2008.

R2 Incorporated is an environmental, engineering and construction services consulting firm located in Denver, Colorado serving domestic and international mining clients. Their key professional engineers and certified environmental scientists each have over 30 years of experience serving the industry. Representative projects include uranium, gold, molybdenum, asbestos, coal and construction materials. In addition, R2 serves county and federal agencies. R2 personnel currently serve on local and national technical environmental committees and have recently served as experts in moving environmental initiatives forward in the State of Colorado.

George Robinson, Principal of R2 Incorporated, stated, "R2 Incorporated is pleased to have been selected by Powertech to assist in obtaining the necessary permits and licenses for its uranium operations. It will be a pleasure to work with a talented management team that knows what it takes to put uranium projects into production. R2 has never been unsuccessful in a permitting initiative that it has undertaken and we look forward to bringing the Centennial Project to fruition."

Richard Clement, President of Powertech, comments: "We are very pleased to have R2 as our contracting environmental and engineering company. In conjunction with the expertise of Richard Blubaugh, we have assembled a highly qualified team to meet all requirements of the regulatory agencies. Through the efforts of our team, we fully expect and plan to have all permits and licenses in hand by the end of 2009 so the company can begin operations at Centennial."

Powertech Uranium Corp. is a 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, USA.


Richard F. Clement Jr., President & CEO

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