Message #7 From:
NewsBot Date: August 26, 2008 12:17:06 PM
URHN Stock: Strong Initial Readings on First Ruhuhu Target
TORONTO -- (Marketwire) -- 08/26/08 -- Uranium Hunter Corporation (OTCBB: URHN stock) ("Uranium
Hunter" or the "Company") is pleased to announce that initial traversing as
part of the ongoing advanced field program at Ruhuhu, has delivered very
high Geiger-counter readings at ground Target 4. Readings of up to 870 cps
were recorded over a 25 m interval at the north east side of the trend
anomaly. In light of these encouraging results, the Company will push
forward with trenching, pitting and systematic sampling at Target 4
concurrently with existing efforts to complete initial traversing over
remaining targets. The Company will continue to update its shareholders as
results of its field program become available.
Uranium Hunter Corporation is also in the process of finalizing and
executing a stock option plan for officers, directors and consultants to
the Company. Details of the stock option plan are forthcoming.
Commenting on these announcements, Ghaith Qamheiah, President of Uranium
Hunter stated, "Given the positive preliminary results of our field
program, the initiation of a stock option plan for our directors, officers
and consultants is a natural next step. Unquestionably, we are in the
midst of very exciting times not only for company insiders but for all
investors."
About The Company:
Uranium Hunter (OTCBB: URHN) is a natural resource corporation devoted to
the exploration and development of deposits of Uranium and Gold in East
Africa. The company website can be found at www.UraniumHunterCorp.com.
Uranium Hunter has entered into a Definitive Agreement with Trimark
Explorations, Ltd ("Trimark"), on behalf of its wholly owned subsidiary
Gambaro Resources, to earn up to a 100% interest in the Uranium-Au property
located in Njombe and Songea Districts, Tanzania. Uranium Hunter has
optioned 170 km2 property in southern Tanzania covering sediments of the
Karoo sequence which share common features with rocks of the Colorado
Plateau in the western US that have become prolific producers of Uranium.
Uranium Hunter has entered into another Definitive Agreement with NPK
Resources Ltd. to earn a 75% interest in the Nkoko and Kagadi uranium
properties which contain over 800 km2 located in Kibaale district, Uganda,
called the "Kibaale Project."
The Ugandan government, World Bank, African Development Fund and the Nordic
Development Fund has all co-sponsored a US $42 million high valued mineral
centered aerial survey which began in January 2007. Results are expected
shortly, and will aid in early exploration work on the properties.
Forward-Looking Statements:
This press release contains forward-looking statements, particularly as
related to, among other things, Uranium Hunter's business strategy. The
words or phrases "would be," "will allow," "intends to," "may result," "are
expected to," "will continue," "anticipates," "expects," "estimate,"
"project," "indicate," "could," "potentially," "should," "believe,"
"considers" or similar expressions are intended to identify
"forward-looking statements." Actual results could differ materially from
those projected in the forward-looking statements as a result of a number
of risks and uncertainties. Such forward-looking statements are based on
current expectations, involve known and unknown risks, a reliance on third
parties for information, and other factors that may cause Uranium Hunter's
actual results, performance or achievements, or developments in its
industry, to differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from
anticipated results include risks, uncertainties and other factors that are
detailed in Uranium Hunter's Quarterly and Annual Reports and other
documents Uranium Hunter files from time-to-time with the Securities and
Exchange Commission. Statements made herein are as of the date of this
press release and should not be relied upon as of any subsequent date.
Uranium Hunter cautions readers not to place undue reliance on such
statements. Uranium Hunter does not undertake, and specifically disclaims
any obligation, to update any forward-looking statements to reflect
occurrences, developments, unanticipated events or circumstances after the
date of such statement. Actual results may differ materially from Uranium
Hunter's expectations and estimates.
NR 08-34
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