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Re:   News Release - Thursday, March 03, 2011
      Powertech Obtains Receipt For Final Prospectus
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Not for distribution to United States newswire services or for
dissemination in the United States.

POWERTECH URANIUM CORP.  ("Powertech" or the "Company") (Vancouver,
B.C.) is pleased to announce that it has been issued a final receipt
for its short form prospectus dated March 2, 2011 in connection with
its public offering of a minimum of 37,234,043 units (each, a "Unit")
at a price of $0.47 per Unit for gross proceeds of $17,500,000 and a
maximum of 47,872,340 Units at a price of $0.47 per Unit for gross
proceeds of $22,500,000 (the "Offering"). The Company has been advised
by its lead agent, Salman Partners Inc., that it has received orders
for the maximum offering of Units.

Each Unit will consist of one common share of the Company (each, a
"Share") and one half of one common share purchase warrant.  Each whole
warrant (a "Warrant") will entitle the holder to purchase one Share at
an exercise price of $0.60 for two years following the closing of the
offering, provided that, if at any time after the date that is six
months and one day following the closing of the offering, the daily
volume-weighted average price of the Shares on the Toronto Stock
Exchange (the "TSX"), or on any other stock exchange on which such
Shares may be principally traded at the time, is equal to or greater
than $1.20 per Share for a period of 20 consecutive trading days, the
Company may, within five days of such event, accelerate the expiry date
of the Warrants by giving notice to the holders thereof. In such case
the Warrants will expire on the 30th day after the date on which such
notice is given by the Company. 

Powertech anticipates that the Offering will close on March 15, 2011.

The Units, Shares and Warrants offered have not been registered under
the U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable
exemption from the registration requirements. This press release shall
not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.

POWERTECH URANIUM CORP.

Per: "Richard F. Clement"
Richard F. Clement Jr.,
President& CEO

For further information, please contact:

Thomas A. Doyle, CFO, VP Finance
Phone: (604) 685-9181
Email: info@powertechuranium.com

www.powertechuranium.com

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of the content of this News Release

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Copyright (c) 2011 POWERTECH URANIUM CORP. (PWE)  All rights reserved.
For more information visit our website at
http://www.powertechuranium.com/ or send
mailto:info@powertechuranium.com
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