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Anglo-Canadian Announces: Drill Program Initiated, Drill Permits Filed

Posted on: Wednesday, 4 October 2006, 12:00 CDT

Anglo Canadian Uranium Corp. (URA on TSX.V) (the "Company") is pleased to announce the commencement of the drill program on the Princeton Copper - Gold - Palladium Project located near Princeton, BC. Several drill holes are scheduled to be completed over the next two to three weeks, which will focus on two initial targets. Targets have been identified by prospecting over the past 30 days by a team of prospectors and the project geologist. The claims are underlain by Copper Mountain alkaline intrusives and Nicola volcanics.

In addition to this drill program, the Company is pleased to announce that it has recently filed its applications to commence drill programs for the Eula Belle and King Uranium / Vanadium Projects located in Montrose County, Colorado within the Uravan Mineral Belt. These applications were filed by Rimrock Exploration and Development Inc., the Company's contracted developer for its Colorado Plateau Uranium Projects. It is expected that drilling will commence upon approval of the applications.

Princeton Copper - Gold - Palladium Project Development Program

Target Area One

The first target of this drill program is located 15 km south of Princeton, BC and is 5 km southwest of the former Newmont Copper - Gold Mine. This target consists of disseminated bornite and chalcopyrite in syenite over a large area. Five trenches were cut across a 100 meter wide zone, all revealing widespread copper mineralization. This initial target area is fairly flat and easily accessible.

Target Area Two

The second target is 2 km to the south east of the first target area, and is characterized by massive to semi-massive bornite with lesser chalcopyrite in shears and fractures. The area has very good access with three zones of mineralization occurring over an area of 100 meters. Surface sampling by government geologists have produced grab and chip samples showing high values of Copper, Gold and Palladium. Two diamond drills are currently drilling at this zone. A bulldozer is currently onsite, and an excavator will be contracted to expose new showings recently found by management on a site visit. The drills are set up to get maximum information from this existing target.

Princeton Project Area Highlights

The Princeton Project consists of claims along the Copper Mountain intrusive contact and is 4 km southwest of the Granby Mining Copper Mountain Mine. Copper was originally discovered prior to 1900, and a major mining company optioned claims in the area in 1959. Copper mineralization was discovered in the Copper Mountain intrusive during two seasons of soil sampling , dip needle surveys and geological mapping. This mineralization is near the contact of the Nicola series of sedimentary and volcanic rocks, with numerous pink feldspar dykes occurring in the mineralized area at Friday Creek. Previous trenching resulted in the discovery of copper sulphides for several hundred feet, with mineralization consistent with dip needle and soil sampling anomalies. Subsequent trenching programs in the area exposed many stringers and small lenses of bornite, with small drill holes testing portions of the open cut. Additional exploration consisted of a 100 foot adit driven near the monzonite contact and nine drill holes in the area of the open cut on the south bank of Friday Creek. These work programs resulted in the identification of four linear mineralized zones, which are proposed targets for future exploration. This project area is 5 km south of the Newmont Ingerbell Copper Gold mine, which produced for over 20 years. Final year production figures for this mine are documented having produced 40,545,000 pounds of copper, 83,500 ounces of silver and 27,000 ounces of gold. Historically, the Princeton region has been a prolific copper-gold producing area.

The technical portion of this release has been approved by James A.Turner. P.Geo., a qualified person under NI 43-101.

About Anglo-Canadian Uranium Corp.

Anglo-Canadian is an aggressive uranium and gold exploration company with several properties located in Canada and the United States. The Company's current projects include uranium projects located in Colorado, Utah, New Mexico and Quebec, and gold and precious metals projects in British Columbia. The Company's focus is to acquire uranium and gold deposits in strategic locations through acquisition and option arrangements, and further develop these projects with experienced management teams.

For more information on the Company and its projects, please visit the website at www.anglocanex.com Len J. Harris, President T: 604 669 6807 Toll Free: 866 488 3838 E: len@anglocanex.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Copyright Copyright Hugin ASA 2006. All rights reserved.

SOURCE: Anglo-Canadian Uranium Corp.

Source: MARKET WIRE

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