Uranium Investing News

Overview

Powertech Uranium Corp. is a mineral exploration and development company that was formed to develop low cost uranium properties with the shortest lead time to production. The company is targeting North America and focusing on projects amenable to In-Situ Recovery (ISR) mining methods. The company presently holds the Dewey Burdock uranium deposit in South Dakota and the Centennial project in Colorado, two advanced stage projects with NI 43-101 compliant inferred uranium resources totaling more than 17 million pounds of U3O8. Powertech has two advanced exploration projects in Wyoming known as Dewey Terrace and Aladdin. Both projects have known uranium mineralization as defined by previous and current drilling and have significant exploration potential. Powertech also holds numerous exploration prospects throughout the Western United States.

Chief Properties

Dewey Burdock Project, South Dakota - 11,180 Acres

The Dewey Burdock Project is located in southwest South Dakota. It is located on the southwest flank of the Black Hills uplift. It is part of the northern extension of the Edgemont uranium district discovered in the 1950’s. The property consists of claims on federal minerals and leases on private minerals that cover 11,180 acres. Surface use agreements cover 11,520 acres of private surface. A NI 43-101 compliant technical report has calculated an Inferred Resource of 7.6 million pounds of U3O8 contained in 1,800,000 tons of host rock averaging a grade of 0.21% U3O8. The uranium resources are contained in two deposits located at depths ranging between 400 and 800 feet below surface for ISR mining. Bench leach tests of cores show 99% recovery (with mild acid). Silver King Mines had previously estimated underground ‘mineable reserves’ of approximately 5 million pounds U3O8 and calculated ‘identified resources’ in place of 10 million pounds (estimates not compliant with NI 43-101). The company has received an Exploration Permit in South Dakota to drill up to 155 holes and perform two 72 hour pump tests to determine the permeability and flow rates of the host formations. The objective of the drilling program is to confirm and potentially expand historic in-place resources, as well as obtain samples of ore on which to conduct metallurgical and leach testing. The company has completed about 50 holes at the Dewey-Burdock Project, core leach test are being performed and baseline studies have been initiated. An environmental engineering firm has been retained for the purpose of permitting this project.

Centennial Project, Colorado - 5,760 Acres

The Centennial project has been assembled around 5,760 acres of uranium mineral rights in Weld County, Colorado that were acquired from Anadarko Land Corp. There have been more than 3,000 drill holes totaling approximately 1,000,000 feet of drilling completed on the project. This drilling outlined several uranium deposits that were discovered along 15 miles of roll fronts in two separate sands of the Fox Hill Formation. The deposits range in depth from 120 feet to 620 feet. A NI 43-101 compliant report has been completed on the project which calculated an Inferred Resource of 9,730,490 pounds with an average grade of 0.094% U3O8. The project has good characteristics for ISR development. Significant additional exploration potential exists in the immediate project area. An environmental engineering firm has been retained for the purpose of permitting the project. The Company recently received approval from the State of Colorado for its second Notice of Intent (NOI) to conduct drilling at the site. Drilling is currently underway, core leach test are being performed and baseline studies have been initiated.

Aladdin Project, Wyoming - 13,590 Acres

The Aladdin project area is located in Crook County, in northeast Wyoming, near the Wyoming/South Dakota border. The project is situated on the northern flank of the Black Hills Uplift, in an area where a number of surface uranium occurrences were mined during the 1950’s. The historical Edgemont, South Dakota uranium district is located on the southern flank of the Black Hills Uplift, approximately 100 miles to the south. Powertech has acquired over 13,000 acres of property in the area. This property consists of mining leases on privately-owned mineral rights, a State of Wyoming mining lease, and claims staked on federally-owned mineral rights. The company has acquired Teton exploration data including 589 drill hole logs representing 222,000 feet logged. Data on three key historical drill holes yields 10 feet of 0.47% U3O8, 6 feet of 0.695% of U3O8 and 6 feet of 0.504% of U3O8. The Company has received an exploration permit to proceed with up to 60 exploratory drill holes on the project. Drilling commenced on the project in August 2007.

Dewey Terrace Project, Wyoming - 8,922 Acres

The Dewey Terrace project is located in Wyoming and is the on-strike continuation of the Dewey Burdock Uranium Deposit across the South Dakota border. The project consists of claims totaling approximately 8,922 acres staked along historic mineralized trends as defined by past exploration and drilling. Powertech has staked 460 mining claims (approximately 8280 acres) in the Dewey Terrace area. These claims were staked on both U.S. Bureau of Land Management (BLM) surface and privately-owned surface. Surface-use agreements have also been obtained from the private surface owners in the area. The company received authorization to proceed with an initial exploration and drilling program on this property. This 20 exploration program was completed after having evaluated historical Teton Exploration drill data that was acquired, which included 298 drill hole logs representing 208,500 feet logged. One key historical drill hole yielded 10.5 feet of 0.19 % U3O8. This initial exploratory drilling was successful in confirming and delineating geochemical alteration in the sands of the Lakota formation between depths of 580 to 900 feet. Multiple mineralized solution fronts were found to be associated with this alteration, with mineralized intervals such as 3.0 feet of 0.053% U3O8 and 5.5 feet of 0.047% U3O8 occurring in oxidized portions of these sands. An expanded second phase drilling program is planned for later in 2007 to assess additional uranium potential on the property.

Management

Powertech Uranium Corp. has experienced management and a well qualified technical team with more than 200 years in all aspects of the uranium industry from exploration, permitting, designing, building, and operating ISR mines. The management has historically permitted and constructed more than eight mines and pilot operations on quality uranium ore bodies. Also the personnel have brought more than 12 in situ operations to both mining and closure stages. This broad knowledge of all aspects of uranium operations in the US brings the company to the forefront of uranium juniors. Management has the experience and insight to determine which deposits have the best potential for development and know how to bring them on stream at the lowest cost.

Officers and Directors

Wallace Mays, P.Eng., BSc., MSc.
Chairman

Mr. Mays is a chemical engineer who spent the early part of his career with Atlantic Richfield Co. where he was responsible for the design, construction, and operation of the first ISR uranium mine in the United States. From 1977 to present, Mr. Mays has been involved as a principal and/or senior executive in many uranium mining ventures in the United States and abroad, including Everest Minerals Corporation and Uranium Resources, Inc., a public company listed on the Exchange, and he has permitted, designed, constructed, and operated numerous ISR uranium mines across the south western United States. In 1996, he was awarded membership in the Uranium Hall of Fame.

Richard Clement JR, P.Geo., MSc.
President, CEO & Director

Mr. Clement is a professional geologist who spent the early part of his career, from 1967 through 1983, with Mobil Oil Corp. in the United States and Australia where he was responsible for the operations management of Mobil Oil’s uranium exploration programs throughout the United States, development of worldwide strategy for mineral exploration, and managing country operations as Vice President / Exploration Manager of Mobil Energy Minerals Australia Inc. From 1983 through 1999, Mr. Clement was employed by Uranium Resources, Inc., formed in 1977 which became a Canadian public company in 1988 specializing in the ISR development of uranium deposits. Mr. Clement served as a director and Senior Vice President - Exploration of Uranium Resources from 1983 to 1996 and subsequently as President of Uranium Resource’s New Mexico subsidiary, Hydro Resources Inc. until 1999 where he oversaw the securing of all necessary mining permits for ISR development of Hydro Resource’s uranium deposits.

Thomas Doyle
CFO, Vice President Finance& Director

Mr. Doyle has over 24 years of capital raising and financial experience. Mr. Doyle has held a variety of senior positions across numerous aspects of the financial industry in Canada, the United States and Internationally. Through these enterprises, Mr. Doyle developed extensive expertise in domestic and foreign financial markets, management, business plan development, and capital formation for a variety of industries, but primarily within the mineral resource and oil and gas industry.

Greg Burnett, MBA, B ASc.
Vice President Administration & Director

Mr. Burnett has 18 years of diversified business experience in corporate finance and administration. Since 1989, he has been President and principal shareholder of Carob Management Ltd., a private management consulting company based in Vancouver, British Columbia specializing in the provision of due diligence services, development of business plans, and structuring / financing / management of venture capital projects, primarily in the public market arena. Mr. Burnett presently serves on the board of directors and is a consultant to the several public junior resource companies.

James Bonner, P.Geo., BSc.
Vice President Exploration

Mr. Bonner comes to Powertech from Gordon Environmental, Inc. where he served as Senior Scientist on their consulting Engineering staff. His background includes many years in the uranium industry most recently as Exploration Manager for Union Pacific Railroad (UP) where he managed a large number of uranium projects during the height of uranium exploration and development. During the 1970’s and 1980’s, his achievements include a number of highly economic uranium discoveries and include his management of geotechnology for UP’s Nine Mile uranium leach project. He has unique experience in the uranium business and has overseen projects in all the uranium target basins within the U.S. Mr. Bonner brings to Powertech his extensive knowledge of uranium deposits and will lead the company’s exploration program to develop highly profitable In-Situ Recovery (ISR) deposits in the U.S.

Richard Blubaugh, M.A., B.Sc.
Vice President - Health, Safety, and Environmental Resources

Richard Blubaugh brings to the Company 20+ years of experience in project and program management, primarily concerning environmental, health and safety. This includes in-depth experience in permitting and environmental management, cooperating with state and federal agencies. Prior to joining the Company, Mr. Blubaugh led his consulting company where he assisted industry participants by taking a leading role in permitting and interfacing with government agencies. Prior to the development of his consulting business, Mr. Blubaugh was Director of Business Development and Government affairs for Atlas Minerals, Inc. (formerly Atlas Corporation) and held the positions of Executive Vice President and a Member of the Board of Directors. Atlas Corporation was a publicly traded precious metals and uranium producer listed on the NYSE. Over his long tenure with Atlas Corporation, Mr. Blubaugh held various positions and most recently was Vice President of Environmental and Government Affairs. In this capacity, he oversaw all of the permitting and management activities in the environmental arena. This included oversight on the closure and remediation of the Atlas uranium mill site, as well as their asbestos mine and mill superfund site in California. As the Company’s Vice President of Health, Safety and Environmental Resources, Mr. Blubaugh will be in charge of all permitting activities for the Company’s Dewey-Burdock uranium properties and will have permitting responsibility over all other areas of the Company’s operations. Mr. Blubaugh holds a Masters of Arts in Public Administration, with an emphasis on environmental and public health, and a Bachelors of Science degree in Biology from the University of New Mexico.

Douglas Eacrett, C.A.,LL.B.
Independent Director

Mr. Eacrett is currently a practicing corporate finance and securities lawyer and a chartered accountant registered with the Institute of Chartered Accountants in British Columbia. Mr. Eacrett has been a director and or officer of a number of public companies which have traded on the Exchange.

James Carter, C.A.
Independent Director

James Carter is a Chartered Accountant with over 35 years of diversified business experience in both public and private companies. He is currently Vice President of Mass Financial Corp. (the former merchant banking arm of KHD Humboldt Wedag International Ltd.). His experience encompasses both the North American and European investment banking and capital markets, with particular expertise in emerging markets and the natural resource sector. During the past eight years, he was based in Europe and oversaw the acquisition, restructuring and ongoing operations of two significant corporate groups, one of which is a commodities trading company based in Vienna. For approximately 15 years prior to that, he was actively involved with a number of junior mining and exploration companies where his activities included corporate restructuring, administration of treasury and financial operations, corporate and property acquisitions, oversight of statutory reporting and compliance and raising of both debt and equity financing.

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