White Canyon Uranium Limited

White Canyon Uranium Limited

February 24, 2011 07:47 ET

White Canyon Uranium Limited: Issue of Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) - As announced to the market on November 30, 2010, the shareholders of White Canyon Uranium Limited (TSX VENTURE:WU)(ASX:WCU) ("White Canyon" or the "Company") passed resolutions at the Company's Annual General Meeting held on that date approving the proposed issue of 20 million options (each having an exercise price of $0.15) to the directors and company secretary of White Canyon. The Company has now issued those options in the numbers approved by shareholders, as set out in the table below:

Director Number of Options issued
Lewis Cross 5,000,000
Michael Bynum 5,000,000
Melvin Swanson 2,000,000
Kelly Shumway 2,000,000
Gregory Burns 2,000,000
John Ramsey 2,000,000
TOTAL: 18,000,000
Company Secretary Number of Options issued
Ranko Matic 2,000,000

The issue of the options does not affect the proposed takeover bid by Denison Mines Corp. ("Denison"), as the issue of the options is specifically provided for in the Bid Implementation Agreement between Denison and White Canyon.

About White Canyon

White Canyon Uranium Ltd is a Perth, Western Australia-based company focused on acquisition, exploration, and development of uranium producing properties. The Company's U.S. operations are headquartered in Moab, Utah and comprise multiple mining tenements covering approximately 15,500 acres in Southern Utah.

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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