White Canyon Uranium Limited

White Canyon Uranium Limited

November 25, 2010 15:11 ET

White Canyon Uranium Limited: Initial Milling Results Show 0.291% Head Grade from Daneros Ore

- 22,000 tons (19,954 Metric Tonnes) of uranium ore processed to date

- Average grade from current processed ore is 0.291%

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2010) - White Canyon Uranium Ltd. (TSX VENTURE:WU)(ASX:WCU) ("White Canyon" or the "Company") is pleased to announce that toll milling commenced at Denison Mines Corp.'s (TSX:DML)(NYSE Amex:DNN) White Mesa mill on November 1, 2010 as planned. The head grade of U3O8 processed is averaging 0.291% which is in line with company expectations.

Toll milling of White Canyon's uranium ore stockpiled at the White Mesa Mill is on target for completion in early December and approximately 40,000 tons (36,280 metric tonnes) of ore are expected to be processed.

As previously announced, White Canyon has engaged Denison Mines as sales agent for the Company's 'yellow-cake' concentrate which could be sold in to the spot market as early as December, 2010. The spot price for uranium has been performing exceptionally well in the past several months and was reported by UXC (The Uranium Consulting Company) on November 23, 2010 at $60.50/pound.

White Canyon Uranium Limited listed in March 2008 and has fast tracked to become an advanced uranium production company holding 100% interest in multiple mining projects in Southern Utah, USA which comprise approximately 15,000 acres of mining claims and mineral leases. The Daneros Mine is White Canyon's first mine to be put into production. 

Denison Mines Corporation is a diversified, intermediate uranium producer and operates the only Uranium/vanadium mill in the United States, the White Mesa Mill, near Blanding Utah.

Competent Persons Statement

Greg Burns has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Greg Burns consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This announcement may contain certain forward looking statements and projections regarding uranium pricing and sales; such forward looking statements are for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of White Canyon Uranium. The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved. White canyon uranium does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking statements/projections based on new information, future events or otherwise except to the extent required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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