Powertech Uranium Corp.: Dewey Terrace Drilling Permit Received

Powertech Uranium Corp.: Dewey Terrace Drilling Permit Received

URANIUM CORP., is pleased to announce that, through it’s wholly owned subsidiary, Powertech (USA) Inc., it has received authorization to proceed with uranium exploration and confirmation drilling on its Dewey Terrace Project in Weston County, Wyoming. The Dewey Terrace Project is located just west and north of Powertech’s Dewey Burdock property in South Dakota. Powertech plans to drill 20 holes in the property to test the continuity and economics of the uranium mineralization, and to follow up on historical drilling. Both the U.S. Bureau of Land Management and the Wyoming Department of Environmental Quality have approved the notice of intent to drill and accepted the reclamation performance bond submitted by the Company. Drilling is expected to commence no later than October 2, 2006. This program represents the first stage of the Company’s planned exploration activities in Wyoming. The Company continues to pursue additional acreage in the area and has acquired a state lease of 640 acres. The Company has also filed Notices Of Intent To Locate (NOITL’s) on a further 1,800 acres immediately adjoining Dewey Terrace Project.

The Company is working closely with the South Dakota Department of Environment and Natural Resources (SD DENR) providing information in support of its uranium exploration and baseline study permit application at the Dewey Burdock property. This permit is designed to test the extensions of the known mineralization, coring for leach testing, and a pump test for establishing flow rates for in-situ mining. The resultant data will also be useful for the mining permit application that the Company anticipates filing in 2007. On September 13, 2006, a number of representatives of the DENR’s Minerals and Mining Program, Groundwater and Surface Water Quality Programs, Water Rights Program and a representative of the SD Game, Fish and Parks Department visited the property for a pre-permit inspection. Richard Blubaugh, Vice President – Environmental Health and Safety Resources, and Frank Lichnovsky, Chief Geologist, accompanied the state representatives on the inspection. The Company’s field activities are headed by Mr. Lichnovsky, who has recently moved his residence to Hot Springs, SD.

Powertech Uranium Corp. is a Mineral Exploration and Development company that holds the Dewey Burdock Uranium Deposit in South Dakota, and the Dewey Terrace Exploration project in Wyoming, USA.

POWERTECH URANIUM CORP.

Richard F. Clement Jr., President & CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

Contact:

Contacts: Powertech Uranium Corp. Thomas A. Doyle CFO (604) 685-9181 (604) 685-9182 (FAX) Email: info@powertechuranium.com

Website: http://www.powertechuranium.com

Source: Powertech Uranium Corp.

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