SOURCE: Uranium Hunter Corp.

August 07, 2008 09:00 ET

Uranium Hunter Provides Positive Exploration Update and an Updated Corporate Website With Video Interviews for Investors

TORONTO--(Marketwire - August 7, 2008) - Uranium Hunter Corporation (OTCBB: URHN) ("Uranium Hunter" or the "Company") is pleased to announce that the corporate website has been updated to inform shareholders of corporate events. On the front page of the web site: www.uraniumhuntercorp.com is an interview with the management team giving investors an in-depth look into the company's projects and management team.

Uranium Hunter Corporation is also pleased to announce that its field team in Tanzania has completed the necessary road access work on the property, and is awaiting results from the geophysical interpretation of the helicopter survey.

Uranium Hunter's Ruhuhu Tanzania Uranium project is located in a remote area of southwester Tanzania, just east of Lake Malawi. Access to the property is restrictive, but now that all road access has been created, the team will be moving forward on a more advanced field program including trenching and pitting of specific uranium targets. Once our geophysical work is complete, the field team will be moving forward immediately on mapping more specific targets.

Ghaith Qamheiah, President of Uranium Hunter commented, "Much has been completed to finally be at this stage of the project, and we are anxiously awaiting results of the helicopter survey. With the recent strengthening of the price of uranium, and the progress of our projects, we feel the future is bright for Uranium Hunter shareholders."

Presidential Candidate, Senator John McCain, a long time promoter of nuclear energy, said recently on the campaign trail that he wanted to see 45 new nuclear reactors built in the U.S. by 2030 with an ultimate goal of 100 new reactors. In the U.S. there are currently 104 reactors providing 20 percent of the electrical power for the Country; no new reactors have been built since the '70s. "China, Russia and India are all planning to build more than a hundred new power plants among them in the coming decades," Mr. McCain said. "Across Europe there are 197 reactors in operation, and nations including France and Belgium derive more than half their electricity from nuclear power. And if all of these nations can find a way to carry out great goals in energy policy, then I assure you that the United States is more than equal to the challenge."

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 km2 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 08-31

Contact Information

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