Uranium Power Corp.
TSX VENTURE : UPC

Uranium Power Corp.

September 10, 2007 09:30 ET

Uranium Power Corp. Announces Hiring of Mining Consultants for Sheep Mountain Project, Wyoming

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 10, 2007) - Uranium Power Corp. ("Uranium Power" "UPC") (TSX VENTURE:UPC) is pleased to announce that BRS Inc. has been hired to execute a preliminary feasibility study for the proposed reopening of the Sheep Mountain mine, as well as for the potential North Gap open pit on the same property. BRS will also carry out any permitting work that may be required for the open pit and for a possible heap leach operation on the property. The Sheep Mountain project is a 50:50 JV between UPC and Uranium One (TSX:UUU), and is operated by Uranium One. Western Mining and U.S. Energy Corp previously produced over 600,000 pounds of U3O8 from the Sheep Mountain mine in the 1970's and 1980's.

BRS is highly experienced in all aspects of uranium mine projects, especially in the State of Wyoming. It is anticipated that initial results from the studies will be available by January 2008. At that time the Joint Venture expects to be in a position to determine the best approach for the advancement of the project.

The Sheep Mountain project has an NI 43-101 compliant inferred mineral resource of 4.6 million tons at an average grade of 0.171% containing 15.6 million pounds U3O8, and also hosts an additional historic estimate of 6.5 million pounds U3O8 in the North Gap area. BRS has also been commissioned to prepare an NI 43-101 compliant resource study on the North Gap area.

Chris Healey, President, UPC commented, "The experience BRS brings to the Sheep Mountain project will significantly add to our ability to move this project ahead in a timely manner. We eagerly anticipate moving ahead with our partner, Uranium One, to further advance this former producer."

URANIUM POWER CORP.

CHRIS M. HEALEY, President

WARNING: The Company relies on litigation protection for "forward looking" statements. Actual results could differ materially from those described in the news release as a result of numerous factors, some of which are outside the control of the Company.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release uses the term "inferred" resources as defined in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Readers are cautioned not to assume that all or any part of the mineral deposits in these categories will ever be converted into reserves. In addition, "inferred resources" have a great amount of uncertainty as to their existence and economic and legal feasibility and it cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Readers are cautioned not to assume that all or any part of an inferred resource exists or is economically or legally mineable. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

Also the term "historic estimate" is used. Readers are cautioned that the potential quantity is conceptual in nature, there has been insufficient interpretive work to define a mineral resource and it is uncertain if further work will result in the zone being delineated as a mineral resource.

Scientific and technical information contained herein with respect to the Sheep Mountain Property has been reviewed on behalf of Uranium Power Corporation by Dr. C. Stewart Wallis, P.Geo., Consulting Geologist and a Qualified Person for the purposes of NI 43-101 in a Technical Report dated October 10, 2006 which has been filed on SEDAR.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

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