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Utah Uranium Corp. Announces Joint Venture on Wild Claims, Drill Permitting Underway

Posted on: Thursday, 7 February 2008, 03:00 CST

Utah Uranium Corp. (the "Company") (OTCBB: UTUC) is pleased to announce the signing of a Joint Venture Agreement (the "Agreement") on the newly acquired Wild group of claims, located near Hanksville, Utah, with Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FRANKFURT: E2L) ("Abaddon") of Vancouver, B.C.

Under the terms of the Agreement, Abaddon will be responsible for payments to Utah Uranium totalling $195,000, the issuance of a total of 300,000 shares over the life of the agreement, and they will be required to complete a minimum of $600,000 in work on the property in a two-phase work program prior to December 1, 2008. On completion of certain milestones within the agreement, Abaddon will be deemed to have earned up to a 60% interest in the property.

The Company is in the filing process for permitting a drill program for the Wild claims. Historically, there were a number of drill holes made on the Wild property by Continental Oil Company in 1969. As part of their activities, down-hole logging was performed on these holes, revealing radioactive mineralization in several holes. It is the intention of the Company to drill in the vicinity of those previous holes in order to properly assess the uranium/vanadium content.

About the Wild Claims

The Wild claims consist of 23 mineral claims located within the Henry Mountain Syncline of East Central Utah. The Henry Mountain Syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment.

The first discovery, known as the Tony M mine, was made in the 80s by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds U308. Subsequently, the Bullfrog mine was discovered adjacent and north of the Tony M mine by Imperial Oil Corporation, and consists of an additional 12,924,000 pounds U308. These mines are currently owned by Denison Mines and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.

Utah Uranium Corp. "UTUC" has acquired the Wild claims from Christian (Ted) Murer P.Geo, whom the Company also purchased the Pinto claims from, and who conceptualized, discovered and currently holds a production royalty on the Tony M mine as a prospector geologist. Ted assembled the Wild uranium claim package using the same data and methodology.

About the company

Utah Uranium Corporation is a Moab, Utah-based junior exploration and development company focused on the acquisition of past producing underground uranium mines, highly prospective new uranium projects and other conventional and non-conventional energy projects. All of the uranium projects acquired to date, in addition to those under review by the Company are within economic haul distances of the White Mesa Uranium Vanadium Mill in Blanding, Utah owned by Dennison Mines.

On behalf of the Board,

Peter Dickie, President

Cautionary note: This report may contain forward-looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. Unless otherwise stated, any and all resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

 Contact: Peter Dickie President Utah Uranium Corp. info@utah-uranium.com

SOURCE: Utah Uranium Corp.

Source: MARKET WIRE

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