Magnum Uranium Announces Results of AGM

Magnum Uranium Corp. ("Magnum" or the "Company") (TSX VENTURE:MM) is pleased to
announce the results of Annual General Meeting held on September 26, 2008. The
shareholders approved all motions put forth at the meeting and ratified the
Stock Option Plan.


The incumbent directors of Magnum, Craig Lindsay, Patrick Downey, Dr. John
Carden, Craig Schneider and Norm Eyolfson, were re-elected for the coming year.
Following the meeting, the Magnum Board of Directors appointed Craig Lindsay as
President & CEO and Bob Nowell as CFO and Secretary. An Audit Committee was
appointed comprising Dr. John Carden, Mr. Craig Schneider and Mr. Craig Lindsay.


Magnum also advises that it is re-pricing its incentive stock options to certain
directors, officers, employees and consultants in order to retain and provide
proper incentive for the Company's key directors and staff in the current market
downturn which has occurred at a time when the industry is still aggressively
competing for qualified personnel. The Company is therefore re-pricing 2,600,000
incentive stock options outstanding in favour of directors, officers, employees
and consultants, from exercise prices ranging from $.45 to $.90 to a new
exercise price of $0.35 per share, subject to regulatory approval.


About Magnum

Magnum is a Vancouver-based minerals exploration company focused on the
acquisition and development of uranium assets in North America. Currently,
Magnum's primary property holdings are located in the Western United States,
specifically Wyoming, Utah, Idaho, and New Mexico, as well as in Canada's
Athabasca Basin.


ON BEHALF OF THE BOARD

Craig T. Lindsay, President & CEO

This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.