Uranium Hunter Completes Aerial Survey on Tanzania Ruhuhu Uranium Project
Uranium Hunter Corporation is pleased to announce that the company’s helicopter airborne magnetic and radiometric survey, conducted by New Resolution Geophysics (“NRG”) of South Africa, has concluded. The 1000 line kilometer survey flown over the Ruhuhu Concession, which is considered one of the most promising uranium sites in the world, aimed to delineate uranium present in the area. Preliminary data appears very promising. The final geophysical interpretation of the data will be completed by GAP Geophysics of South Africa and the results will be released in the near future.
Presidential Candidate, Senator John McCain, a long time promoter of nuclear energy, said recently on the campaign trail that he wanted to see 45 new nuclear reactors built in the U.S. by 2030 with an ultimate goal of 100 new reactors. In the U.S. there are currently 104 reactors providing 20 percent of the electrical power for the Country; no new reactors have been built since the ’70s. “China, Russia and India are all planning to build more than a hundred new power plants among them in the coming decades,” Mr. McCain said. “Across Europe there are 197 reactors in operation, and nations including France and Belgium derive more than half their electricity from nuclear power. And if all of these nations can find a way to carry out great goals in energy policy, then I assure you that the United States is more than equal to the challenge.”
Ghaith Qamheiah, President of Uranium Hunter, commented, “Recent strengthening in the price of uranium is encouraging. We are seeing a strong renewal of interest in our market for Uranium exploration. With all these new reactors being built over the coming years, we expect to see the demand and price of uranium appreciate considerably. We are now well positioned to capitalize on this demand and expect our results to reflect positively in our Company’s bottom line. Once all the results of the airborne surveys are complete, we will release additional information to our shareholders and the investment world.”
Uranium Hunter is awaiting the geological interpretation of the Ugandan aerial survey project data that has recently been released by the Ugandan Government. The aerial survey project is funded by the World Bank, the African Development Bank, the Government of Uganda, and the Nordic Development Fund, and is focused on mapping Uganda’s natural mineral wealth. The survey covers over 600,000 line kilometers and uses magnetic horizontal radiometric and gamma-ray spectrometric readings taken from fixed wing aircraft. Approximately 50% of the flying is now complete, with the balance to be completed over the next 6 months.
About Uranium Hunter
Uranium Hunter (OTC BB:URHN.OB) 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 a 170 square kilometer 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 square kilometers 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 dollar 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.
Contact: Uranium Hunter Corporation Ghaith Qamheiah President
Toll free 1-866-566-0936
Source: Uranium Hunter Corp.