Western Uranium Corporation

Western Uranium Corporation

July 12, 2007 08:30 ET

Western Uranium Corporation Announces Broad Low Grade Gold Intercept From Drilling at Kings Valley

Exploration Update, Kings Valley, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 12, 2007) - Western Uranium Corporation ("WUC") (TSX VENTURE:WUC) is pleased to announce preliminary results from the first of three core holes being drilled to test for a reported molybdenum porphyry system on the southwest flank of the McDermitt Caldera at its Kings Valley Uranium Project in Nevada. Although the initial drill hole did not encounter anomalous molybdenum or uranium values it did intercept significant gold values. The assay results from hole MM-1-07 included 173 meters of low-grade gold that averages 0.10 g/t with numerous intervals ranging from 0.07 up to 0.47 g/t throughout the zone from 190 metres to 363 metres of a total drill depth of 365 meters. The gold mineralization appears to occur on a network of hairline fractures that cut a weakly altered granodiorite intrusive over the mineralized interval. The gold mineralization in MM-1-07 is particularly significant when coupled with the previously reported mineralization intercepted at the Moonlight zone in drill hole KV-19 that contained 10.7 meters of 1.26 g/t gold and 13.7 meters of 38.7 g/t silver along with 15.2 meters of 0.278% uranium and 19.8 meters of 0.021% molybdenum. The distance between KV-19 and MM-1 is 700 meters.

These results continue to support the supposition that a large mineralizing system may be buried at depth near the Moonlight zone that potentially may be the source of the gold, silver and molybdenum in KV-19 and represent a system that is overprinted on the uranium mineralization. It is also of note that the Sleeper Mine, which hosted a large bonanza-grade gold system, is located along a similar north trending structural zone approximately 35 kms south of hole MM-1-07.

A second deep core hole, MM-2-07 has also been completed with MM-3-07 currently underway. These holes are located approximately 330 meters apart and approximately 650 meters west and south of the Moonlight zone where The Anaconda Company in 1979 estimated approximately 6 million pounds of uranium in 1.7 million tons at a grade of 0.18% U3O8. This is a historic resource and not considered NI 43-101 compliant and should not be relied upon. From visual inspection of the core it would appear that MM-2-07 has intercepted the same host rock/alteration sequence containing the low grade gold in hole MM-1 but with somewhat stronger clay alteration. The core from MM-2 is currently being split and then will be submitted for assay. Drill hole MM-3 is currently in progress and has encountered a significantly stronger zone of clay alteration and silicification both of which contain a number of narrow sulphide-bearing veinlets with visible pyrite. However due to the difficulty of drilling in the fractured and altered rock the hole has been terminated and will be offset by approximately 10 meters to re-drill the interval and continue the hole.

From examination of the core and associated assays it now appears the first two holes should have been drilled deeper as they were both terminated in fractured and altered granodiorite.

About the Company

Western Uranium Corporation is a mineral exploration company with a focus on uranium. The Company has exploration properties in Kings Valley, Nevada, Treeline, New Mexico and in the Thelon Basin, Nunavut and the Northwest Territories. The Company has its head office in Vancouver, Canada; its executive management team is based in Reno, Nevada.

The contents of this press release were reviewed by Pamela Klessig who has sufficient experience to review this release and is a Qualified Person as defined by NI 43-101.

On behalf of the Board of Western Uranium Corporation

Pamela J. Klessig, President & CEO

Forward-looking statements: This document may contain statements about expected or anticipated future events and financial results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this press release.

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