Pitchstone Reports Uranium Results at Gumboot

Pitchstone Exploration Ltd. (TSX VENTURE:PXP) ("Pitchstone") announces that its
winter exploration program of core drilling on two eastern Athabasca Basin
properties has been completed as planned. Drilling was completed on Pitchstone's
100% owned Gumboot property, and on the adjoining Johnston Lake property that
was optioned in early 2009 from Denison Mines Corp. 


Gumboot 

Drilling at Gumboot consisted of three holes totalling 2,140 meters. Significant
alteration and/or anomalous radioactivity were observed at the unconformity in
all three holes. Analytical results have been received for the first two holes.
The results from GB11-23 are particularly significant as this hole intersected
0.3 meters of 0.53% U3O8, 1.92% Ni, 0.80% Co and 21.8 g/t Ag approximately 3
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. GB11-23 was drilled at the
northern end of the Gumboot mineralized zone, which is open to the north. 


Analytical results are also available from the second drill hole, GB11-24D1,
which was drilled in the center of the mineralized area, about 300 meters
southeast of GB11-23. GB11-24D1 intersected a long interval of sporadic uranium
and base metal mineralization, most of which was associated with intense
alteration in the basement, immediately beneath the sub-Athabasca unconformity.
Results include 0.1 meter of 0.30% U3O8, and 0.1 meter of 2.78% Ni, within an
11.5 meter interval of 0.02% U3O8, 0.47% Ni and 0.06% Co. 


Mineralization at Gumboot is coincident with a five kilometer long graphitic
horizon that is still largely untested outside of the mineralized area (see maps
at www.pitchstone.net). Additional drilling at Gumboot is planned.


Johnston Lake

Three holes were also completed on the Johnston Lake property to follow up on
the results of drilling in 2010. Encouraging sandstone alteration, structure and
graphitic basement rocks were intersected in all three holes. Intervals of
elevated radioactivity were observed in two of the holes. Further details will
be made available upon receipt of the analytical results.


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. 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 11 projects in the eastern Athabasca
Basin, Saskatchewan, three of which are 100% owned. In addition, there is a
joint venture on two 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.