SOURCE: Uranium Hunter Corp.

May 02, 2008 12:41 ET

Uranium Hunter Appoints Mr. Akolisa Ufodike to Board of Directors

TORONTO--(Marketwire - May 2, 2008) - Uranium Hunter Corporation (OTCBB: URHN) ("Uranium Hunter" or the "Company") is pleased to announce the appointment of Mr. Akolisa Ufodike, CGA, CPA, ACCA, MBA to the Uranium Hunter Board of Directors.

Mr. Ufodike is a senior finance professional who earned his Bachelor's of Commerce degree from Laurentian University, Sudbury and his MBA from Cornell University, Ithaca New York. His professional career spans Investment Banking, I.T., FMCG and Telecoms at organizations including Bell Canada and Molson.

Mr. Ufodike is active in the community and serves on the Board of Directors of Skills for Employment Life and Family (SELF formerly the Peel Literacy Guild) as treasurer, as well as the Black Business and Professional's Association of Canada as a Director.

Commenting on this appointment, Mr. Cegielski, stated, "The appointment of Mr. Ufodike to the Board of Directors reaffirms Uranium Hunter Corporation's commitment to strengthening its management team through the addition of yet another experienced and results-oriented professional. A highly respected professional, Mr. Ufodike will undoubtedly help provide further exposure to Uranium Hunter Corporation in the investment community, and we are excited to have him on board."

About The Company:

Uranium Hunter (OTCBB: URHN) is a natural resource corporation devoted to the exploration and development of deposits of Uranium and Gold in East Africa. The company website can be found at www.UraniumHunterCorp.com.

Uranium Hunter has entered into a Definitive Agreement with Trimark Explorations, Ltd ("Trimark"), on behalf of its wholly owned subsidiary Gambaro Resources, to earn up to a 100% interest in the Uranium-Au property located in Njombe and Songea Districts, Tanzania. Uranium Hunter has optioned a 170 square kilometer property in southern Tanzania covering sediments of the Karoo sequence which share common features with rocks of the Colorado Plateau in the western US that have become prolific producers of Uranium.

Uranium Hunter has entered into another Definitive Agreement with NPK Resources Ltd. to earn a 75% interest in the Nkoko and Kagadi uranium properties which contain over 800 square kilometers located in Kibaale district, Uganda, called the "Kibaale Project."

Uranium Hunter has entered into a letter of intent with Pinewood Resources of Tanzania to earn a 75% interest in the Karoo project which contains approximately 8600 square kilometers within close proximity to Paladin's Kaleyekara uranium deposit in Malawi, and the newly announced Mtonya Uranium Project discovery in the south western region of Tanzania.

The Ugandan government, World Bank, African Development Fund and the Nordic Development Fund has all co-sponsored a US $42 million dollar high valued mineral centered aerial survey which began in January 2007. Results are expected shortly, and will aid in early exploration work on the properties.

Forward-Looking Statements:

This press release contains forward-looking statements, particularly as related to, among other things, Uranium Hunter's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause Uranium Hunter's actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks, uncertainties and other factors that are detailed in Uranium Hunter's Quarterly and Annual Reports and other documents Uranium Hunter files from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Uranium Hunter cautions readers not to place undue reliance on such statements. Uranium Hunter does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Uranium Hunter's expectations and estimates.

Contact Information

  • Contact:
    Uranium Hunter Corporation
    Adam Cegielski
    President
    (416) 915-3199
    Investor Relations
    Toll free 1-866-566-0936