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NWT ACQUIRES INTEREST IN KALAHARI MINERALS THROUGH
NIGER URANIUM VENTURE
Toronto � Friday, April 4, 2008 � NWT Uranium Corp. (TSX-V: NWT; OTCBB: NWURF) is pleased to announce that through its holdings of
Niger Uranium Ltd. it has acquired an interest in Kalahari Minerals PLC, an
AIM-listed company with assets in Namibia.
As announced in a press release on March 20, 2008,
Niger Uranium has agreed to acquire up to 27,680,000 shares of Kalahari,
which would represent 17.5% of the company, upon completion of a Kalahari
private placement. As NWT is the largest shareholder in Niger Uranium with a
holding that would constitute 32% of Niger Uranium shares following
completion of the Kalahari agreement, NWT�s stake in Kalahari would represent
5.6%.
Kalahari�s principal asset is a 36.2% interest in
Extract Resources Limited, which trades on the Australian Stock Exchange
(ASX) and has uranium exploration licenses in Namibia. NWT�s subsequent
interest in Extract is calculated at 2.0%. In addition to its holdings in
Extract, Kalahari has property interests in the Dordabis and Witvlei copper
exploration properties, located in Namibia�s Kalahari copper belt.
The directors of Niger Uranium, including Marek J.
Kreczmer, President and CEO of NWT Uranium, believe that �the acquisition of
a substantial stake in Kalahari Minerals provides Niger Uranium with
interests in nearer-term potential uranium production and a diversification
of its uranium portfolio into Namibia, a country with a reputation for having
a positive approach to the development of mining projects.�
The purchase price is 12,400,000 pounds sterling,
satisfied through a cash payment of 7,470,000 pounds sterling from Niger
Uranium�s existing cash balances, and the issuance of 17,000,000 new Niger
Uranium shares. This share issuance subsequently dilutes NWT�s stake in Niger
Uranium to approximately 32%. Admission of the new shares is expected to
become effective on March 31, 2008.
Niger Uranium trades on London�s AIM market under
the symbol URU, while Kalahari trades under the symbol KAH. Extract trades on
the ASX under the symbol EXT.
ABOUT NWT URANIUM CORP:
NWT Uranium Corp. (www.nwturanium.com) is an
international resource exploration company with an experienced, highly
technical management team. Since its inception, NWT has concentrated on the
acquisition of properties with potential uranium targets. NWT Uranium is
listed on the NASD Bulletin Board under the symbol �NWURF� and the TSX
Venture Exchange under the symbol �NWT.�
FURTHER INFORMATION:
Marek J. Kreczmer, M.Sc., P.Eng.
President and CEO
NWT Uranium Corp.
(866)
437-9551
info@nwturanium.com
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