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PXP Pitchstone Exploration Ltd.

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Share Name Share Symbol Market Type
Pitchstone Exploration Ltd. TSXV:PXP TSX Venture Common Stock
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Pitchstone Completes Calcrete Uranium Drilling

16/12/2011 11:00am

Marketwired Canada


Pitchstone Exploration Ltd. (TSX VENTURE:PXP) ("Pitchstone" or the "Company")
reports the completion of a program of reverse circulation drilling on calcrete
hosted uranium targets at the Dome property in Namibia. The property location
relative to the nearby Rossing and Langer Heinrich uranium mines, and other
uranium occurrences in the Erongo region is illustrated on Pitchstone's website
(www.pitchstone.net). Uranium in calcrete is excluded from a recently completed
agreement that allows Rio Tinto to earn into Pitchstone's interest in bedrock
hosted uranium deposits at Dome.


Namibia Calcrete Target Drilling

Fifty reverse circulation drill holes explored calcrete targets in the recently
completed campaign in an effort to find extensions to the Marble Ridge zone and
locate additional uranium mineralized paleochannels over part of the Dome
property. Down hole total gamma probe results indicate that three of the holes
intersected weak but significantly elevated radioactivity in calcrete (up to 18X
background). Geochemical analyses are pending and the Company is planning to
complete additional drilling on the property.


Corporate Update

Mr. Eric Schwitzer has resigned from the Board of Directors to pursue other
interests, but will continue in an advisory capacity with Pitchstone. The
Company would like to thank Mr. Schwitzer for his valuable contributions since
the initial public offering 6 years ago.


Steve Blower, P.Geo., President and CEO of Pitchstone, is the Qualified Person
for the purposes of NI 43-101 with respect to the technical information in this
news release. Calcrete hosted uranium at the Dome property is part of a uranium
exploration joint venture between Pitchstone (71%) and private company Manica
Minerals Ltd. (29%) through Manica's wholly-owned subsidiary Cheetah Minerals
Exploration Ltd. 


About Pitchstone

Pitchstone is exploring for uranium in three proven districts in Canada and
Namibia. The property portfolio features 13 projects in the eastern Athabasca
Basin, Saskatchewan, five of which are 100% owned. In addition, there are two
joint venture projects in Namibia and several joint venture projects in the
Hornby Bay Basin, Nunavut. Pitchstone benefits from the collaboration of a
unique group of geologists with extensive uranium exploration and production
experience. 


On behalf of the Board, 

Steven J. Blower, President and CEO

This news release may contain assumptions, estimates, and other forward-looking
statements regarding future events. Such forward-looking statements involve
inherent risks and uncertainties and are subject to factors, many of which are
beyond Pitchstone's control, that may cause actual results or performance to
differ materially from those currently anticipated in such statements.


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