SOURCE: Uranium Hunter Corp.

December 07, 2007 13:17 ET

Uranium Hunter Awaits Release of Uganda Aerial Identification Survey

TORONTO--(Marketwire - December 7, 2007) - Uranium Hunter Corporation (OTCBB: URHN) ("Uranium Hunter" or the "Company") is pleased to announce that the Government of Uganda has now confirmed the release of the initial round of data gathered by a country wide aerial survey of Uganda's geological resources. The data is to be made public on the 13th of December, 2007.

Uranium Hunter is positioned well to acquire further prospective projects for the company's property portfolio. NPK Resources, Uranium Hunter's joint venture partner in Uganda, has over 30 years of cumulative Uganda specific geological experience, and is ready to move forward as soon as the data interpretation is complete.

The aerial survey project is funded by the World Bank, the African Development Bank, the Government of Uganda, and the Nordic Development Fund, and is focused on mapping Uganda's natural mineral wealth. The survey will cover over 600,000 line kilometers and have used magnetic horizontal radiometric and gamma-ray spectrometric readings taken from fixed wing aircraft. Approximately 50% of the flying is now complete, with the balance to be completed over the next 6 months.

Uranium Hunter President Adam Cegielski commented, "The ongoing aerial survey represents a new era in mineral exploration for Uganda as a whole. This up to date survey is now opening the door for various exploration companies to move forward on a wide range of projects in the country. Uranium Hunter has been positioned in Uganda from an early stage in this process, and is looking forward to leading the way in exploration in Uganda."

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 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 170 km 2 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 km2 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 km 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.

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Contact Information

  • Contact:

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