SOURCE: Uranium Hunter Corp.

February 21, 2008 11:04 ET

Uranium Hunter Commences Helicopter Aerial Survey on Tanzania Ruhuhu Uranium Project

TORONTO--(Marketwire - February 21, 2008) - Uranium Hunter Corporation (OTCBB: URHN) ("Uranium Hunter" or the "Company") is pleased to announce that the company's helicopter airborne magnetic and radiometric survey, conducted by New Resolution Geophysics ("NRG") of South Africa, has now commenced.

After completing its preliminary field exploration program on the project and confirming the presence of multiple uranium anomalies, Uranium Hunter's consulting geologist VP3 has now initiated the helicopter airborne magnetic and radiometric survey. It is anticipated that an 800-1000 line kilometer survey will be flown over the Ruhuhu Concession area in an effort to delineate uranium present in the area. The survey consists of a single block located approximately 100 kilometers northwest of Songea, Tanzania. It is anticipated that the project area will take 3-4 days to fly, and that geological interpretation of the results will be completed in the first quarter of 2008.

Uranium Hunter is currently awaiting the geological interpretation of the Ugandan aerial survey project data that has recently been released by the Ugandan Government. 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 covers over 600,000 line kilometers and uses 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.

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