Thelon Capital Ltd.
TSX VENTURE : THC
FRANKFURT : TFH

Thelon Capital Ltd.

May 01, 2008 16:40 ET

Thelon Ventures Ltd.: Uranium Exploration Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 1, 2008) - Thelon Ventures Ltd. (TSX VENTURE:THV)(FRANKFURT:TFH)is pleased to provide an exploration update on its Uranium projects.

Pasfield Lake, Athabasca Basin. Thelon has been advised by its Joint Venture Partner Triex Minerals that under the option agreement they have initiated a 70%-30% joint venture.

Approximately 70 line-kilometres of ground-based transient magnetotelluric surveys (AMT) were completed this winter. This work extended lines completed in 2007, and completed additional infill lines. Forward modeling of airborne gravity data has also been done. This work has combined to successfully define the eastern margin of the uplift block that dominates the center of the property, and has increased significantly the length of conductors and associated shear zones on the property that warrant drill testing. A major, four month drill program is planned for next winter, beginning in December, to start testing both prospective margins of the uplift block.

The Property is located in the eastern Athabasca Basin in northern Saskatchewan. It is approximately 60 kilometres northwest of the Cigar Lake Mine, the second largest high-grade uranium deposit in the world. It is 35 kilometres south of the northern extension of Highway 905 that connects Points North and Stony Rapids. The property currently consists of 11 mineral claims covering a total of 50,264 hectares. For property location and description, visit the Company's website at www.thelonventures.com.

Four Corners, Emery County Utah. Thelon has completed follow up Radon Sampling and has identified drill targets and hopes to be drilling on the property by mid June 08. Thelon's exploration area is immediately adjacent to the inactive Probe Mine and has field evidence of extensive historical drilling. The Salt Wash member of the Morrison Formation, the historical mineralized stratigraphic horizon, lies within 500 feet of surface. Drill hole locations have been selected and initiation of the permit process is planned within the next few weeks. A four-hole drilling program is planned for the late winter or early spring of 2008 to test the radon anomalies detected by the follow-up surveys.

Tom Bell, PhD P.G, a qualified person under national instrument 43-101, has approved the technical information contained in this news release.

THELON VENTURES LTD.

On behalf of the Board of Directors

Jason Walsh, President

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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