RPT Uranium Corp.

RPT Uranium Corp.

June 17, 2008 13:35 ET

RPT Uranium Completes Drill Program in Sibley Basin and Continues to Search for Other Opportunities in Energy Sector

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 17, 2008) - Nelson W. Baker, acting President of RPT Uranium Corp. (TSX VENTURE:RPT) is pleased to announce that the company has completed a 3306 metre, winter-spring diamond drilling program on its Sibley Basin uranium property north of Thunder Bay, Ontario. Fourteen holes were drilled into a variety of targets near the western edge of the Sibley Basin.

Five holes were drilled into iron formations, as indicated by strong, linear airborne magnetic anomalies. Previous exploration had established a relationship between iron formation and uranium mineralization in the Split Rapids area at the eastern margin of the Sibley basin. No uranium was encountered in the 2008 drill holes. However, hole BL08-13, where the iron formation had feathered out into a number of very narrrow slivers close to a major northwest-trending fault zone, cut a short section of iron formation carrying pyrite, pyrrhotite and chalcopyrite. A 0.50 metre section assayed 0.32 g/T gold. Drill hole BL08-14, the last hole of the program, cut a 26 metre section of iron formation, on the opposite side of the fault. It was mineralized throughout with pyrite, pyrrhotite and chalcopyrite. Samples have been sent to be assayed for gold.

Seven holes were drilled into airborne electromagnetic anomalies, which were all caused by graphite-bearing metasediments. The association between graphitic basement rocks and unconformity-related uranium mineralization is well known in the Athabasca basin of Saskatchewan. None of the 2008 drill holes encountered uranium; however, hole BL08-11 intersected a wide zone of clay, chlorite and hematite alteration extending from the unconformity at the base of the Sibley sediments, 50 metres down into the basement. This type of alteration is almost always associated with unconformity-type uranium mineralization, and its presence is regarded as a favourable indication of the area's uranium potential.

Two holes were drilled into discrete magnetic anomalies, of which one was determined to be caused by an outlier of a diabase sill. The other, tested by hole BL08-06, was caused by a body of serpentinized peridotite. Although there was no sulphide mineralization present, the area clearly has potential for nickel-copper-PGE mineralization.

RPT's Sibley basin claims currently cover 221,000 acres within a 125 x 65 kilometre area of the Sibley basin, of which approximately one third consists of Archean basement rocks where the sedimentary cover has been removed by erosion. All technical information herein has been compiled and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., vice-president of exploration for the company and a Qualified Person as defined in NI43-101.

In addition to exploring for uranium in Canada, RPT Uranium Corp. continues to explore for other large scale projects globally that fall within the energy sector. RPT Uranium is well funded with approximately $15 million in its treasury.

For personal reasons, effective June 10, 2008, Dr. Peter Kausch has resigned as a director from the board of the Company but will remain as a consultant to RPT Uranium Corp. Replacing Dr. Kausch on the Company's board is Michelle Gahagan, LLB., a graduate of Queen's University Law School. Ms. Gahagan has practiced corporate law since 1986, articled at Broughton and Company and was also associate counsel to the Vancouver firm of Douglas Symes and Brissenden.

Marshall R. Bertram, Director

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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