Basin Uranium Acquires Great Divide Basin Project

VANCOUVER - Basin Uranium Corp. has acquired the Great Divide Basin Uranium Project located in Sweetwater County, Wyoming. The Project, which was acquired through direct staking by the Company, is comprised of 104 unpatented mineral lode claims totaling approximately 1,880 acres located in south-central Wyoming and within the Great Divide Basin. The claims are located contiguous with Premier American Uranium's Cyclone Project which hosts an exploration target ranging from 6.5 million short tons averaging 0.06% U3O8 (7.9 million lbs. U3O8) to 10.5 million short tons averaging 0.06% U3O8 (12.6 million lbs. U3O8). Wyoming is home to both the largest uranium reserves and top producing uranium state in US2, with the Great Divide Basin representing the least exploited of Wyoming's basins estimated to contain over 270 million pounds of uranium.

"The staking of the GDB property represents our continued expansion into the USA and second internally generated project in Wyoming. We continue to execute on acquiring and developing strategic assets located in prolific mining districts with extensive historical exploration," said Mike Blady, CEO. "The GDB Project and surrounding area have played host to a plethora of explorers, starting with the U.S. government in the 1950's and most recently Tournigan Energy Ltd. in the mid 2000's. The well understood geology, historic exploration, and proximity to UR Energy's Lost Creek ISR mine and processing facility add to the appeal and potential of GDB. Wyoming represents one of the premiere exploration and mining jurisdictions for uranium within the USA which provides for a clearly defined and expedient pathway for permitting and development."

The GDB Project is comprised of approximately 1,880 acres of contiguous claims (104 unpatented mineral lode claims) located south and west of Jeffrey City and north and west of Wamsutter, Wyoming. The Project adjoins Premier American Uranium's Cyclone Project and is readily accessible by gravel and dirt roads maintained by the Bureau of Land Management (BLM). The Project has seen extensive historical drilling dating back to the 1970's with many of the pads identifiable on the western half of the project. More recently, Tournigan Energy drilled a number of wells with grade-thickness or GT (grade U3O8 X thickness in feet) in excess of 0.25GT from a grid located about 500 - 1,000 feet to the southwest of the project, further highlighting the potential for economic grade uranium mineralization within the immediate vicinity.