| ||January 09, 2008|
Aladdin Project - Drilling Update
| ||POWERTECH URANIUM CORP. ("Powertech" or the "Company") is pleased to announce that the Company completed its 2007 drilling program on the Aladdin Project in Crook County, Wyoming. This program was conducted between August 2007 and November 2007 and was authorized under an exploration drilling notification (No. 356 DN) from the Wyoming Department of Environment Quality.|
Powertech completed 60 rotary drill holes in and adjacent to an area of historical uranium drilling within sandstones of the late Cretaceous Inyan Kara group. The drilling program, which totalled 26,680 feet, confirmed the presence and roll front nature of uranium mineralization in the area of the historical drilling and expanded these mineralized trends outside of the historic drilling area.
The historical drilling area is defined by 581 drill hole logs and unsurveyed drill hole location maps obtained from Teton Exploration. This historic drilling data indicated the Aladdin project contained 9 miles of roll fronts with uranium mineralization identified in multiple sandstone units. 37 holes from Powertech's 2007 drilling program were directed toward these indicated trends. This drilling confirmed the geochemical setting (oxidation/reduction) and roll front uranium mineralization within seven sandstone units in the Fall River and Lakota Formations. In the process of delineating these mineralized sand units, 16 of the drill holes intersected uranium mineralization in excess of 0.05% eU3O8. Additional drilling will be required to demonstrate continuity and assess the grades of the mineralization within these seven mineralized sand units.
The balance of 23 drill holes was completed on previously unexplored property adjacent to this area. These wide-spaced exploratory drill holes indicated that mineralized trends extend up to three miles west from the historical drilling.
The three highest mineralized intercepts as indicated by down-hole radiometric logging were:
Hole No. Thickness Grade Depth GT
---------- --------- ------------ ---------- ----
AL 07-1-5 6.0 ft 0.451% eU3O8 497 feet 2.71
AL 07-1-4 7.5 ft 0.332% eU3O8 496 feet 2.49
AL 07-1-10 12.5 ft 0.333% eU3O8 474.5 feet 4.16
Based on the interpretation and the encouraging results of the 2007 drilling program and the previously acquired drill hole data base of Teton Exploration, Powertech is planning a follow-up drill program in 2008. In addition, Powertech is preparing an estimate of uranium resources for the Aladdin area.
Richard F. Clement, Jr., President and CEO, states "We are extremely pleased with the results of our 2007 drill program at Aladdin. We were successful in confirming the historical data that was acquired on the project, thus increasing our confidence in this data base. We were also able to expand the zones of uranium mineralization and increase the exploration potential of the project."
This news release has been reviewed and approved by Mr. Clement, President and CEO of Powertech, under whose direction the company's operations are being carried out. Mr. Clement,
P.G., MSc. is a Qualified Person as defined by National Instrument 43-101.
About Powertech Uranium Corp.
Powertech Uranium Corp. is a Denver-based mineral exploration and development company that holds the Dewey-Burdock Uranium Deposit in South Dakota, the Centennial Project in Colorado and the Dewey Terrace and Aladdin Projects in Wyoming. The company's key personnel have over 200 years of experience in the uranium industry throughout the United States, and have permitted more than a dozen in-situ operations for production. For more information, please visit http://www.powertechuranium.com/
POWERTECH URANIUM CORP.
Per: "Richard F. Clement"
Richard F. Clement Jr.,
For further information, please contact:
Thomas A. Doyle, CFO, VP Finance
Phone: (604) 685-9181
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's development plans at Aladdin. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with uranium exploration, (3) a decreased demand for uranium, (4) any number of events or causes which may delay or cease exploration and development of the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, (8) inability to obtain all necessary environmental and regulatory approvals, (9) an increase in the number of competitors with larger resources, and (10) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators.
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