SOURCE: Uranium Hunter Corp.

September 17, 2008 09:00 ET

Uranium Hunter Prepares to Initiate Advanced Field Work on Kibaale Project

TORONTO--(Marketwire - September 17, 2008) - Uranium Hunter Corporation (OTCBB: URHN) ("Uranium Hunter" or the "Company") is pleased to announce plans to initiate advanced field program on its Kibaale Project in Western Uganda in anticipation of aerial survey results.

Uranium Hunter has been awaiting the release of the overdue geophysical data of the Aerial Survey by the Ugandan government. Immediately on receipt, the data pertaining to uranium will be interpreted and appropriate additional groundwork will be planned and implemented in order to identify targets for detailed groundwork and potential drilling.

As previously reported, initial review of historical aerial survey results indicated that Kagadi had highly radioactive granite in the neighbourhood of a NNE fault separating the granite from the Basement Complex Schist. The NNE fault line extends to the Nkoko area. The survey covered the whole of southern Uganda up to one degree north, which included the southern components of both Kagadi and Nkoko EL areas. The results showed enhanced radiometric values in the range of 2500-3250 cps in Kagadi EL area and over 3250 cps in Nkoko EL area (the Kibaale project).

This was followed by a preliminary field work program completed by NPK Resources in November 2007, which confirmed the presence of increased radiation 2-4 times the general background, although less than the 3250 CPS indicated in the first airborne geophysics. Since this was simply a reconnaissance survey, the NPK team restricted themselves to roads and tracks where access by vehicle was possible. Target areas are now clearly confirmed, and a systematic ground exploration program will commence upon interpretation of the aerial survey results.

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 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 08-37

Contact Information

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