Pitchstone Finalizes Summer Athabasca Drilling Plans

Pitchstone Exploration Ltd. (TSX VENTURE:PXP) - 



--  Work planned on Gumboot, Johnston Lake and Wolverine
--  Drilling will total 4,250 meters
--  New claims staked in the Eastern Athabasca



Pitchstone Exploration Ltd. ("Pitchstone") has finalized plans for summer
exploration activities in the eastern Athabasca Basin, Saskatchewan. Work will
include 2,250 meters of diamond drilling at Gumboot and Johnston Lake, plus
2,000 meters of diamond drilling at Wolverine. Additionally, Pitchstone has
recently staked three new claims in the eastern Athabasca Basin.


Gumboot

Drilling at Gumboot will continue to follow the north-south zone of intense
alteration and sporadic mineralization initially discovered in 2009. The zone is
open along strike in both directions. The northernmost hole (GB-23) was drilled
in February of this year and intersected 0.3 meters of 0.53% U3O8, 1.92% Ni,
0.80% Co and 21.8 g/t Ag approximately three meters below the sub-Athabasca
unconformity. The interval included 0.1 meters of 1.47% U3O8, 2.45% Ni, 1.61% Co
and 49 g/t Ag (see March 21, 2011 news release). Mineralization in GB-23 is
associated with intense sandstone alteration characterized by zones of massive
clay, quartz dissolution, bleaching and tilted blocks. Basement rocks are
faulted, graphitic, pelitic gneiss. Approximately 1,550 meters of drilling are
planned at Gumboot during the summer exploration season. Gumboot is 100% owned
by Pitchstone.


Johnston Lake

One 700 meter drill hole is also planned at Johnston Lake to follow up on
mineralization intersected in JL-25R during the winter 2011 drilling program
(see April 18, 2011 news release). JL-25R intersected 0.1 meter of 0.13% U3O8
associated with a major fault zone 60 meters below the sub-Athabasca
unconformity. A 21 meter offset in the unconformity at this location indicates
favorable post-Athabasca faulting. Pitchstone has earned a 49% interest in
Johnston Lake from Denison Mines Corp. ("Denison") and is proceeding with a
second stage earn-in to 75%.


Wolverine

Work at Wolverine will consist of 2,000 meters of diamond drilling to follow up
on basement-hosted mineralization discovered in 2010 (see August 18, 2010 news
release). Drill hole WL-01 intersected 0.25% U3O8 over 0.1 meter within a large
interval of hematitic fault breccia 70 meters beneath the sub-Athabasca
unconformity. Wolverine was optioned to Japan Oil, Gas and Metals National
Corporation ("JOGMEC") in 2009. All exploration on Wolverine is being funded by
JOGMEC.


New Claims

Pitchstone has staked three new claims (S-112160, S-112161, and S-112281)
totaling 5,650 hectares in the eastern Athabasca Basin area since April of this
year. S-112160 is located 27 kilometers due east of the Cigar Lake mine and has
been named the Packrat property. It was staked to cover an area of interpreted
intersecting faults that is coincident with a prominent magnetic low near the
Collins Bay thrust fault. Packrat is 100% owned by Pitchstone.


S-112161 adjoins the Marten property and covers two zones of alteration and
uranium mineralization previously drilled by other operators. It will be subject
to the terms of Pitchstone's option agreement with JOGMEC.


The third claim, S-112281, is contiguous with both Gumboot and Johnston Lake
properties and will form part of the Johnston Lake project. The claim covers a
four kilometer portion of the Gumboot/Johnston Lake conductor system not
previously held by Pitchstone or Denison. Exploration on S-112281 will be
carried out under the terms of the option/joint venture agreement with Denison.


Steven J. 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. Sample preparation and analyses were done by SRC
Geoanalytical Laboratories, Saskatoon. A partial digestion with fluorimetric
analysis was used for initial uranium determinations, and then all samples
containing greater than 100 ppm uranium were re-analyzed with ICP. Pitchstone
utilizes internally and externally submitted standard reference materials for
quality assurance and quality control of the sample preparation and analyses.
There is insufficient information to estimate the true thickness of the
intersections.


About Pitchstone

Pitchstone is exploring for uranium in three proven districts in Canada and
Namibia. The property portfolio features 12 projects in the eastern Athabasca
Basin, Saskatchewan, four of which are 100% owned. In addition, there is a joint
venture on two projects in Namibia and three 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.