Tribune Uranium Corp.

Tribune Uranium Corp.

July 17, 2007 15:24 ET

Tribune Signs LOI With A Better Search Inc. on the Drucourt-Centre and Lac Caron Uranium Properties, Northeastern Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2007) - Tribune Uranium Corp. (TSX VENTURE:TCB)(FRANKFURT:S8QA) (the "Company") ("Tribune") has entered into a letter of intent ("LOI") with A Better Search Inc., whereby Tribune will have the right to acquire a 75-per-cent interest in the Drucourt-Centre and Lac Caron uranium properties, located on the north shore of the St. Lawrence River about 120 miles east of the town of Seven-Island. The Drucourt-Centre and Lac Caron uranium properties encompass an area covering approximately 960 acres located at the eastern limit of the Wakeham Basin.

Under the terms of the LOI, Tribune may earn a 75-per-cent undivided interest in the property by paying the holder $25,000, incurring expenditures of $1-million over 3 years and issuing an aggregate of 1,100,000 common shares over an 18 month period. Tribune's interest in the property will be subject to a 1.5% net smelter royalty. The LOI provides for Tribune to have a period of 90 days in which to conduct due diligence with respect to the property.

Historical exploration on the Drucourt-Centre property, completed in the 1970's, included extensive scintillometer surveys, trenching and bulk sampling. A total of 100 samples totaling 1500 lbs were taken, grading on average, slightly over a half a pound of U3O8/ton.

Highlights of historical trenching include:

- 95 feet with an average grade of 0.52 lbs/ton of U3O8

- 85 feet with an average grade of 0.48 lbs/ton of U3O8

- 50 feet with an average grade of 0.66 lbs/ton of U3O8

- 7 feet with an average grade of 1.13 lbs/ton of U3O8

- 10 feet with an average grade of 1.41 lbs/ton of U3O8

As expressed by the detailed scintillometer surveys, the mineralization appears to be fairly uniformly distributed over a length of a half mile and is open in the eastward direction. The Drucourt-Centre property shows the potential to host a significant, low-grade, bulk tonnage uranium deposit. Tribune plans to immediately begin exploration work on the property upon closing of the LOI.

"The addition of the Drucourt-Centre and Lac Caron uranium properties is an integral part of Tribune's strategy to aggressively acquire and explore advanced-stage, drill-ready uranium properties. We are on track to commence drilling on Botham Lake by early September of this year," states Graham Harris, chief executive officer and chairman of Tribune Uranium Corp.

Tribune Uranium Corp. is a Canadian exploration company committed to the acquisition of advanced stage, drill ready, uranium projects. Led by an experienced management team, the Company plans to aggressively explore its current portfolio of highly prospective uranium properties. The Company headquarters are in Vancouver, BC and shares are traded on the TSX Venture Exchange (TCB) and the Frankfurt Exchange (S8QA).

This news release has been prepared under the supervision of Ed Kruchkowski, P. Geol., who is a Qualified Person under National Instrument 43-101.


Graham Harris, Chairman and CEO

Forward-looking statements:

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Tribune Uranium Corp. expects to occur, are forward looking statements.

Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Tribune Uranium Corp. 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 may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration success, continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Tribune Uranium Corp's management on the date the statements are made. Tribune Uranium Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.

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