Powertech Uranium Corp.

Powertech Uranium Corp.

January 31, 2008 08:30 ET

Powertech Uranium Corp.: Dewey-Burdock Drilling Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 31, 2008) - POWERTECH URANIUM CORP. (TSX:PWE)(FRANKFURT:P8A) ("Powertech" or the "Company") is pleased to report progress on its exploration drilling program at the Dewey-Burdock Project in Custer and Fall River Counties, South Dakota. In January 2007, the Company received an exploration permit from the South Dakota Board of Minerals and Environments to complete 155 drill holes on this project.

Powertech 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 Cretaceous age.

In the areas surrounding the defined resources, past exploration also identified oxidation/reduction boundaries within seven separate sandstone units, representing 80 - 90 miles of potential mineralized trend. Powertech's 2007 exploration program was designed to confirm the presence of this exploration potential and to begin a systematic evaluation of these mineralized trends in order to expand the project's total resource base.

To date, the Company has completed 70 exploratory drill holes, totaling 44,000 feet, in the evaluation of these trends. The presence of at least seven mineralized sand units was confirmed through the drilling of wide-space holes throughout the project area to examine the subsurface geochemical setting of the project area. In addition, several fences of drill holes were drilled across identified trends to assess the uranium resource potential of these features. This method of bracketing "solution fronts" (terminology used in the uranium industry) requires drilling holes in the oxidized side of the uranium "front", secondarily jumping a fair distance to the reduced side of the "front" and halving the distance until the zone of uranium mineralization is encountered. Typically sedimentary uranium that is amenable to ISR production averages between 75 and 200 feet in width. Due to the narrow average width of the higher grade uranium mineralization along these trends, between four and six close-spaced geochemistry drill holes are required in each fence. A total 56 holes were drilled in 15 fences. In the completion of this drilling program, 9 fences of drill holes intersected uranium mineralization, and 7 fences encountered mineralization in excess of 0.05% eU3O8. The remaining 6 fences will require additional drilling to delineate the solution fronts. Four of the highest mineralized intercepts as indicated by down-hole radiometric logging were:

Hole No. Thickness Grade GT Depth

DB 07-10-8 2.5 feet 0.548% eU3O8 1.37 564.5 feet
DB 07-12-3 5.0 feet 0.213% eU3O8 1.07 235.5 feet
DB 07-11-12 14.0 feet 0.172% eU3O8 2.41 373.0 feet
DB 08-32-10 21.0 feet 0.123% eU3O8 2.59 584.5 feet

The presence of higher grade uranium mineralization along these trends was very encouraging, giving Powertech confidence that future detailed drilling programs in these exploration areas are likely to add significantly to the project's total resource base.

Richard Clement, President & CEO, stated, "we are very pleased with the results to date of our drilling program at Dewey-Burdock. This drilling program has confirmed historical drill information and has demonstrated the potential to expand the resources within Powertech's property."

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 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 exploration 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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