USA Uranium Completes Utah Property Acquisition

USA Uranium Completes Utah Property Acquisition

USA Uranium Corp. announces that it has completed the acquisition of a 75% joint venture interest in the LaSal West mineral claim group located in the prolific LaSal uranium district of Utah.

The ore previously produced from the existing mines on this Property contained up to 0.35% U3O8 (Uranium) and 1.5% V2O5 (Vanadium) resulting in production of over one million (1,000,000) tons of ore. Ore of this caliber would equate to a value of over $700 per ton using the current spot price of $90 per lb.

USA Uranium determined to acquire the joint venture interest after review of the data from their initial geological work program on the property and the environmental considerations of the area. This program utilized traditional geological techniques, evaluated data from the three previously producing mines on the property and instituted and conducted a ground radon detection survey utilizing leading-edge technology, which the Company’s advisors have been developing to assist in uranium property evaluations.

The terms of the purchase of the 75% joint venture interest required USA Uranium to issue 4 million shares for the 75% interest. This exciting property consists of 111 BLM claims comprising 2200 acres. The property covers a portion of the north/central LaSal District trend and contains three significant past producers: the Bluejay Mine, the M-6 Mine and the Balsley Mine.

The data from the proprietary radon detection system is currently being further evaluated, reviewed and interpreted. The Company expects to have the data review completed in the near future. Currently the results are being utilized to identify the highest probability drill targets.

Mr. Stephen Spalding MBA., B.Sc. (Physics, Finance & Math), has also joined the Company as a Director and as President, where he will assist Mr. Barth the CEO in forging a decisive direction for the Company in 2008. Mr. Spalding brings more than 30 years of expertise in public and private company management to USA Uranium Corp., primarily related to internal controls, management structure and corporate governance in the investment banking, Hedge Fund, natural resources, manufacturing and technology industries. Mr. Spalding was until recently a partner with Grant Thornton in San Francisco and was formerly a Senior Partner with Deloitte & Touche and also with KPMG for 18 years.


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