SOURCE: Uranium Hunter Corp.

August 12, 2008 09:00 ET

Uranium Hunter Corp. Announces Helicopter Survey Identifying Multiple Uranium Targets at Ruhuhu Project

TORONTO--(Marketwire - August 12, 2008) - Uranium Hunter Corp. (OTCBB: URHN), ("Uranium Hunter" or the "Company") is pleased to announce that the geophysical interpretation of the aeromagnetic and radiometric surveys conducted over its Ruhuhu Prospect have delineated up to 8 outcropping zones of enhanced uranium activity.

The 1,100 line km of airborne radiometric and magnetic data acquired by airborne contractor NRG over the Ruhuhu Prospect was interpreted by GAP Geophysics of South Africa with the aim of mapping uranium anomalies of possible palaeochannel exploration interest. Some 9 subdivided zones of enhanced uranium activity (RAD_1 to RAD_9) have been interpreted including anomalies whose responses are up to 5 times greater than background. Anomaly parameters and coordinates are listed in below:

                           URANIUM ANOMALY               COORDINATES
                           ---------------               -----------
Target Zone   Line ID   AMP(ppm)  ANOM/BKGND  U/TH     Xutm        Yutm
-----------   -------   -------   ----------  ----     ----        ----
RAD_1          1020_A      6          3.0      0.9   697460.96   8857496.92
               1030_A     10          5.2      1.4   697679.95   8857509.39

RAD_2          1040_A      5          2.3      0.8   697908.70   8857004.84

RAD_3A         1040_A      6          2.7      1.1   697867.98   8858929.10
               1050_B      5          2.3      1.2   698081.01   8859151.65
               1060_B      6          2.7      1.4   698269.73   8859306.93

RAD_3B         1080_B      6          2.2      1.2   698675.20   8858914.48
               1100_A      5          1.9      1.1   699067.41   8858902.12

RAD_4          1150_A     12          4.1      1.8   700085.88   8857711.64

RAD_5          1330_A      5          2.7      1.1   703685.78   8859551.94
               1350_A      9          4.5      1.6   704079.15   8859335.66

RAD_6A         1820_B      5          2.2      1.0   713479.60   8858446.54

RAD_6B         1880_A      6          2.3      1.2   714664.88   8858875.53

RAD_7          1860_B      5          2.0      1.0   714277.03   8863457.09

RAD_8          1800_E      5          2.6      1.1   713071.35   8865445.80

RAD_9          1730_C      5          3.0      0.2   711677.51   8859292.56
               1740_D      6          3.6      0.2   711865.96   8858813.17
               1750_C      7          4.2      0.2   712081.19   8858862.31

Reporting on the findings of their interpretation, GAP Geophysics stated that such anomalous responses characterize Karoo sediments underlying the area and have similar characteristics to uranium palaeochannel deposits in the Republic of South Africa Karoo. As such, they constitute viable exploration targets. The full report prepared by GAP Geophysics is now available as a publication under the "Investor Relations" tab on the company website at www.UraniumHunterCorp.com.

Recent uranium discoveries in similar rock formations to those found at Ruhuhu include the Kayelekera uranium deposit in Malawi, which is owned by Paladin Resources, and the Mkuju River project owned by Mantra Resources. The Kayelekera discovery has an inferred resource of 9.4 million tonnes ore at 0.12% U308. In the case of the Mkuju project, it was recently announced that thick zones of uranium mineralization were intersected with specific results pending.

Commenting on the findings at Ruhuhu, Ghaith Qamheiah, President of Uranium Hunter, stated, "We are extremely encouraged by these results which continue to reaffirm the viability of our Ruhuhu project. With specific targets now identified, we are confident that further fieldwork will continue to follow this positive trend."

Senator John McCain, United States Presidential Candidate, has said, "Our nation's future security and prosperity depends on the next President making the hard choices that will break our nation's strategic dependence on foreign sources of energy and will ensure our economic prosperity by meeting tomorrow's demands for a clean portfolio." John McCain will put his administration on track to construct 45 new nuclear power plants by 2030 with the ultimate goal of eventually constructing 100 new plants. John McCain's energy video can be found on the Uranium Hunter website for viewing: www.UraniumHunterCorp.com.

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 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."

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.

NR 08-32

Contact Information

  • Contact:

    Uranium Hunter Corporation
    Ghaith Qamheiah
    President
    (416) 915-3199

    Investor Relations
    Toll free 1-866-566-0936