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WUC Western Uranium Corp.

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Share Name Share Symbol Market Type
Western Uranium Corp. TSXV:WUC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Western Uranium Announces Significant Gold Intercepts in Preliminary Results From the Regional Drill Program at Kings Valley, Ne

29/10/2008 12:30pm

Marketwired Canada


Western Uranium Corporation (the "Company") (TSX VENTURE:WUC) is pleased to
announce preliminary results from the 2008 drilling program at Kings Valley,
Nevada. The drill program was focused on a number of uranium targets identified
from previous geophysical and geochemical surveys in the Bull Basin and Old Man
Springs areas. Preliminary results to date have outlined zones of anomalous
radioactivity occurring near the contact between the overlying altered sediments
and the underlying volcanic units similar to the style of uranium mineralization
in the nearby Aurora deposit. Of particular interest is drill hole AB-04 at the
northern end of the target area that intercepted 12 grams of gold over 1.5
metres from 103.7 m to 105.2 m. In addition the hole intercepted another
interval 41 metres in width from 154.0 m to 195.1 m that averaged 0.66 grams.
This interval included, 1.03 grams over 1.5 metres from 155.5 m to 157.0 m, and
1.94 grams over 7.62 metres from 170.7 m to 178.3 m. There were also a number of
thick low grade intervals of gold in the hole above 0.10 grams gold. While it is
too early to determine the significance of this gold intercept there does appear
to be some correlation between gold and uranium in the larger system. Gold
mineralization was also encountered in the Moonlight Mine area where drill hole
KV-19 yielded 10.7 meters @ 1.26 g/t gold and 13.7 meters @ 38.7 g/t silver
(results previously announced in October 2006). Chevron also reported sporadic
gold mineralization in some of the historical data. However, the amount of gold
mineralization in this hole suggests the stronger gold bearing portion of the
system may occur to the north. The gold occurs in a hydrothermal breccia unit
with strong silicification and sulphide veining characteristic of high level
epithermal systems.


Geologic work to date has identified a large area of approximately 11 kilometers
in strike length and 3 kilometers in width covering three prospective areas,
Bull Basin, Old Man Springs, and Albisu. 27 core holes for a total of
approximately 6200 meters of drilling were completed. 800 meters were drilled at
Albisu, ALB 01 - 04, 4300 meters were drilled in Bull Basin, BB 01 - 16 and 1100
meters at Old Man Springs OMS 01 - 07. Due to the large area and permitting
constraints the program was undertaken with helicopter support to minimize
surface disturbance. The drill program coupled with detailed geologic mapping in
these areas provided additional geological information and helped define
potential mineralizing controls. These data will assist in guiding the next
phase of drilling.


It now appears that there is a dominant north-south corridor of mineralization
and alteration that strikes 24 kilometres along the western rim of the McDermitt
Caldera. The southern part of the trend is defined by the known zones of uranium
mineralization reported by the company in previous press releases and the north
end where ALB-04 is located appears to be a gold enriched portion of the system.
Along this trend are scattered old prospect pits and drill holes that have
elevated geochemical signatures of metals that tend to occur proximal to large
mineral systems. Many of the holes are geochemically elevated significantly
above background concentrations in arsenic, mercury, and silver along with
scattered zones of elevated gold and molybdenum. In addition, lithium is highly
concentrated in the drill holes on the eastern margin of Bull Basin on the
peripheral edge of the North Lens lithium pod as defined by Chevron Resources.
These intercepts of lithium lie outside the area as defined by Chevron and most
probably will expand the previous zone. All of these elements when examined on a
regional scale suggest that an extremely large, active, multi-element,
metalliferrous system has been present in the caldera.


Turn around for analytical results for the uranium have been slow but are
beginning to come in and will be reported when all the finalized results for the
drilling have been received. Preliminary results indicate the down hole gamma
probe results vary from the chemical assays. This suggests a disequilibrium
problem where the daughter products from the decay chain of uranium are being
picked up with the gamma probe and the uranium has been mobilized to a different
locality. The assessment of our technical committee that has participation of
Cameco's geologic staff is that uranium is mobile in the environment and we are
picking up a residual pathfinder that can then be used to vector in a potential
deposition site. This will be the primary target for the Phase II drill program.
The gold assays for ALB-04 are listed below as the field team recognized
alteration often seen in volcanogenic precious metal epithermal systems and the
samples were expedited through the laboratory.




HOLE          INTERCEPT    THICKNESS   GOLD (G/T)

ALB-04        9.2- 27.4         18.2        0.19
            103.7-105.2          1.5       12.46
            105.2-114.3          9.1        0.17
            140.2-144.8          4.6        0.43
            154.0-195.1         41.1        0.66 includes:
                   155.5-157.0   1.5        1.03
                   170.7-178.4   7.7        1.94
            201.2-207.3          6.1        0.23
            208.5-218.3          9.8        0.23
            220.7-227.1          6.4        0.26



WUC QA/QC Program

Quality Control and Assurance for all sampling projects at Kings Valley is under
the direction of Mr. John Rice a Qualified Person as defined by National
Instrument 43-101 standards. Core samples are collected daily from the drill
site and transported back to the field office where WUC personnel photograph
each box. WUC geologists then log the core noting rock types and alteration. The
core is then split and packaged in sealed heavy weight polyethylene bags. Core
samples are delivered by WUC employees to American Assay Laboratories located in
Sparks, Nevada.


American Assay Laboratory's quality control system complies with the
requirements for the International Standards ISO 9001:2000 and ISO 17025:1999.
Analytical accuracy and precision are monitored by the use of reagent blanks,
reference samples, and sample duplicates. Additionally, WUC selects duplicate
samples which are then submitted to a third party lab for separate confirmation
analysis.


WUC contracted Minerals Exploration and Environmental Chemistry Laboratories,
located in Washoe Valley, Nevada, to develop a set of analytical standards for
uranium quality control. WUC standards were made at 0.01%, 0.05%, 0.10%, and
1.0% U3O8. Once prepared, the standards were submitted to six different
accredited assay laboratories for round robin analysis and confirmation of grade
before use. Control samples are submitted with each round of samples submitted
to the laboratory.


About the Company

Western Uranium Corporation is a mineral exploration company with a focus on
uranium. The Company has exploration properties in Nevada, New Mexico and in the
Thelon Basin, Nunavut and the Northwest Territories. The Company has its head
office in Vancouver, Canada; its executive management team is based in Reno,
Nevada.


The contents of this press release were reviewed by Ms. Pamela Klessig for WUC.
Ms. Klessig has sufficient experience to review this release and is a Qualified
Person as defined by NI 43-101.


On behalf of the Board of Western Uranium Corporation

Pamela J. Klessig, President & CEO

This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the 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 an
exemption from such registration is available.


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