RPT Uranium Corp.

RPT Uranium Corp.

March 18, 2008 08:30 ET

RPT Uranium Corp. Commences Sibley Basin Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2008) - Nelson W. Baker, acting president of RPT Uranium Corp. (TSX VENTURE:RPT), is pleased to announce that the company has commenced a 3,500 metre diamond drilling program on its Sibley Basin uranium property north of Thunder Bay, Ontario.

The 2008 winter-spring diamond drilling program will focus on geophysically indicated targets in the western part of the Sibley basin, a mid-Proterozoic sedimentary basin that is geologically similar to the uranium-rich Athabasca basin of Saskatchewan.

Reprocessing and reinterpretation of a 2005 VTEM® airborne magnetic-electromagnetic survey has defined three northwest-trending structural zones running across the project area. These faults or fault systems are manifested by vertical offsets of the unconformity below the Sibley sediments and/or horizontal offsets of basement rock units.

The target model is uranium mineralization at or close to the unconformity below the Sibley sediments. The target selection process is similar to that which has proven successful in the Athabasca basin: geophysical surveys are used to identify favourable basement rock types, and these are tested near their intersections with zones of structural disruption. In the Sibley basin, the favourable basement rocks are magnetite iron formation and graphite-bearing metasediments, which are expressed as magnetic and conductive anomalies.

Previously, the company has worked on high grade uranium occurrences in exposed basement rocks at the margins of the Sibley basin, which have been hosted either in magnetite iron formation, as at Split Rapids, or in northwest-tending fault zones, such as the Frazer Creek occurrences. The present drill program is designed to test the most favourable areas underneath sedimentary cover, where any uranium-bearing mineralization will be fully preserved, and not removed by erosion.

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.

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.

Nelson W. Baker, 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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