| ||February 21, 2008|
Powertech Appoints Wallace M. Mays Chief Operating Officer
| ||POWERTECH URANIUM CORP. ("Powertech" or the "Company") is pleased to announce the appointment of Wallace M. Mays as Chief Operating Officer. Mr. Mays continues as Powertech's Chairman of the Board of Directors.|
For the last three years, Mr. Mays has held the position of Operations Manager for Central Asia with Uranium One Inc. (Uranium One), formerly Urasia Energy Ltd. (Urasia), focused on initiating and developing the Uranium One/ Urasia In Situ Recovery (ISR) uranium projects in Kazakhstan and their uranium exploration activities in Kyrgyzstan. Effective February 1, 2008 Mr. Mays and Uranium One have mutually agreed to the termination of Mr. Mays' employment contract and responsibilities with Uranium One. Mr. Mays is now in a position to fully concentrate on Powertech's operations and preparations for production at the Company's Dewey-Burdock and Centennial Projects.
Mr. Mays brings over 34 years of uranium mining experience at senior management positions, beginning in the United States with the development of the first commercial scale ISR uranium mine, the Clay West Uranium Mine in Texas. His career continued with the development and operation of the Hobson, Las Palmas, Mount Lucas and TX-1 ISR mines in Texas, and the Highlands ISR mine in Wyoming. Mr. Mays has successfully restored the Hobson and Las Palmas wellfields, the Highlands Exxon In- Situ Pilot wellfields, and the Pawnee, Lamprecht, and Zamzow ISR mines in Texas. Internationally, Mr. Mays has been involved with the development and operation of the Harat ISR Pilot Mine and the Dornod open pit uranium mine in Mongolia and more recently the Akdala, South Inkai and Kharasan ISR mines in Kazakhstan. Mr. Mays is a Registered Professional Engineer with Bachelor's and Master's degrees in Chemical Engineering from the University of Texas.
Mr. Mays stated "After accomplishing my personal goals that I had set for advancing the operations of Uranium One/ Urasia in both Kazakhstan and Kyrgyzstan I feel that these projects are well established to move forward. I am very pleased to be returning to Colorado, and working out of Denver where I have been a long term resident and look forward to developing the Powertech projects to production. I also look forward to making a significant contribution to the growth and development of the US uranium industry."
Richard F. Clement, Jr., President and CEO, stated "We are delighted to have Wallace back in Denver in the office full time as his expertise is invaluable at this stage of the Company's development. With Wallace's oversight of operations and direction to the team of professionals that Powertech has assembled, we are well on our way to being a near term US uranium producer."
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
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