SOURCE: Utah Uranium Corp.

December 04, 2007 03:05 ET

Utah Uranium Acquires Additional Uranium Mines

MOAB, UT--(Marketwire - December 4, 2007) - Utah Uranium Corp. (the "Company") (OTCBB: UTUC) is pleased to announce it has signed an Agreement for the acquisition of a 100% interest in a 12 claim license package consisting of 2 past producing Uranium - Vanadium mines known as the "Marcas" and the "Ray Marie."

Both properties are located southwest of Gateway, Colorado and are typical examples of the sedimentary streambed type ore bodies found throughout the region in the Morrison sandstone formation. Each property lies northeasterly and is on trend with the Polar Mesa complex approximately 2 miles to the west and the historic Gateway complex to the east with an historic production reported at 13 million pounds Uranium.

The Marcas (6 claims, 120 acres) was previously owned by Wally Winfield and saw small-scale operations through the late 1970s. Historic production grades for Uranium were reportedly from 4 to 10 lbs/ton (0.2% - 0.5%).

The Ray Marie (6 claims, 120 acres) was owned and operated by Bill Wilson (Grand Junction, CO) and in production through to 1978 when the Atlas Minerals mill ceased operations. Uranium grades of the last shipment made at this time from the Ray Marie were reported as 10lbs/ton (0.5%).

Production from both of the above properties was from the upper lens of the Morrison formation from a coarser grained sandstone, where there is a tendency to see higher Vanadium grades. Historical Vanadium to Uranium ratios for the area were reported as being approximately 8:1. Production from other previous operations in the area was also taken from the lower lens. The Company believes the Marcas and Ray Marie, being within 100 miles of the Denison Mill now operating in Blanding, UT, or within 60 miles of a newly proposed mill, have excellent exploration potential to delineate additional tons from both upper and lower lenses in an effort to support additional operations.

Consideration for the acquisition of these above properties consists of scheduled payments for a total of $375,000 over a 3-year term as well as the scheduled issuance of a total of 400,000 common shares of the Company over the same period. The Property vendors will also retain a net proceeds royalty of 4% of which 100% can be purchased for $1,000,000.

Utah Uranium Corporation is a Moab, Utah-based junior exploration and development company focused on both the systematic exploration of the Henry Mountain Basin, in concert with the acquisition of past producing uranium mines that can be brought back into production in the near term with low capital expenditure. All of the mines currently owned or in the acquisition pipeline are within economic haul distances of White Mesa Mill in Blanding, Utah, the Ticaboo Mill in Ticaboo, Utah or the proposed Energy Fuels Mill near Nucla, Colorado. The white Mesa Uranium Mill is currently the only operating Uranium mill in the United States.

We seek safe harbour.

On behalf of the Board,

Peter Dickie, President

Cautionary note: This report may contain forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. Unless otherwise stated, any and all resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

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