RPT drills 0.3 m of 0.557% U3O8 on Split Rapids zone

RPT Uranium Corp (C:RPT)
Shares Issued 116,788,073
Last Close 12/13/2007 $0.225
Friday December 14 2007 - News Release

Dr. Hikmet Akin reports

RPT URANIUM CORP. CUTS 0.30 METRES OF 0.557% U3O8 AT SPLIT RAPIDS ZONE

RPT Uranium Corp. has released results of the 2007 summer-fall diamond drilling program on the Split Rapids uranium zone on the company's Sibley basin uranium property, northeast of Thunder Bay, Ont. Thirty-three drill holes totalling 3,939 metres were completed during the program. Mineralized intercepts gave assays up to 0.557 per cent U3O8 (uranium dioxide) over 0.30 metre. The Split Rapids uranium zone assay results from summer 2007 diamond drilling table gives all assay results from this phase of drilling.

Mineralization at Split Rapids consists of pitchblende-bearing fractures in and adjacent to a 900-metre length of Archean iron formation. In some drill holes, multiple uranium-bearing fractures have yielded wider drill intersections such as the 9.65 metres of 0.158 per cent U3O8 in hole BSE07-31 (see news release in Stockwatch of June 20, 2007). Narrower intersections often give high grades such as the 4.68 per cent U3O8 over 0.72 metre in hole BSE07-30 (see news release in Stockwatch of April 2, 2007).

After reviewing all the results from Split Rapids, it appears likely that this mineralized area may represent the root zones of an unconformity related uranium deposit or deposits that have mostly been removed by erosion. The unconformity at the base of the Sibley sediments lies an unknown distance above the present land surface in the Split Rapids area. In order to find uranium mineralization at or near the unconformity that has been preserved from erosion, the company will focus on testing the favourable iron formations and graphitic zones that are exposed around Split Rapids, westward under the Sibley sedimentary cover.

By analogy with the Athabasca basin of Saskatchewan, home of the world's richest uranium deposits, the most prospective areas will be where favourable basement lithologies (such as graphite and iron formation, which provide a chemically reducing environment that helps to trap uranium) are cut by fault structures (that provide channelways for mineralizing waters). The company is reprocessing data from the 2005 VTEM airborne electromagnetic survey to define drill targets under the sedimentary cover. The Black Sturgeon west claim block (separated from the Split Rapids claims by a provincial park on Black Sturgeon Lake) covers a 30-kilometre strike length of favourable basement geology with multiple magnetic and conductive anomalies (representing iron formations and graphite and/or sulphide zones respectively). An initial 3,500-metre diamond drilling program is planned for the winter of 2008.

RPT's planned 2008 exploration program for the Sibley basin also includes:

• On the Dorion claim block in the southern part of the Sibley basin, an airborne radiometric and electromagnetic survey that had to be abandoned due to a heavy snowfall at the end of October, will be completed. It will be followed by prospecting, stripping and diamond drilling.
• The Malborne Lake claim block will also be covered by airborne radiometric and electromagnetic surveys, to be followed by further prospecting, stripping and diamond drilling. To date, prospecting has located 14 uranium occurrences on the Malborne Lake claims. Stripping on one of these -- the Frazer Creek showing -- exposed extensive uranium mineralization on surface. Stripping of other surface showings had to be abandoned after an exceptionally heavy rainfall in October. A diamond drilling program at Frazer Creek in the fall of 2007 intersected only minor radioactivity, and it appears that this zone has a limited vertical extent.
• Airborne electromagnetic and magnetic surveys, followed by diamond drilling of geophysically indicated targets, will be carried out over the Black Sturgeon north and south claim blocks. The Black Sturgeon north claims cover an eight-kilometre length of the Black Sturgeon fault, which is the dominant structural feature of the Sibley basin. The Black Sturgeon fault lies mostly within provincial parks or under the water of Lake Nipigon, and is only accessible to exploration in a few areas. The Black Sturgeon south claims extend southward from Black Sturgeon Lake and cover an interpreted splay off the Black Sturgeon fault. Both of these claim blocks lie within the Sibley basin proper where basement rocks covered by Sibley sediments and Nipigon diabase sills, and any uranium mineralization related to the unconformity can be expected to be preserved in its entirety.

RPT's Sibley basin claims currently cover 221,000 acres within a 125-kilometre-by-65-kilometre area of the Sibley basin, of which approximately one third consists of Archean basement rocks where the sedimentary cover has been removed by erosion.

    SPLIT RAPIDS URANIUM ZONE ASSAY RESULTS 

       FROM SUMMER 2007 DIAMOND DRILLING



Hole No.                Core length      % U3O8



BSE07-44                     0.30         0.025

and                          0.30         0.040

BSE07-46                     0.30         0.009

and                          0.50         0.040

BSE07-48                     0.30         0.557

BSE07-49                     0.50         0.089

BSE07-51                     0.40         0.341

and                          0.30         0.042

BSE07-58                     0.75         0.031

BSE07-63                     0.75         0.133

BSE07-65                     0.85         0.037

BSE07-71                     0.90         0.028

Includes                     0.30         0.068

In Saskatchewan, RPT's diamond drilling program on the Richards Lake-Shasko Bay property southeast of Fond du Lac, near the northern margin of the Athabasca basin, has been suspended for the Christmas season, and will recommence in January. At that time, overland access via an ice road on Lake Athabasca is expected to make the program more efficient and cost-effective.

Also in the northern part of the Athabasca basin, analytical results from the summer program of boulder and outcrop sampling on the Miller Creek property, in which RPT can earn a 70-per-cent interest from Duran Ventures Ltd. by making cash payments, issuing shares and spending $3-million, are expected shortly. Visible-IR spectroscopy to identify clay mineral alteration patterns, will be carried out over the next two months. A Megatem airborne magnetic and EM survey has identified a conductive layer within the Athabasca group sandstones (the Wolverine Point formation), which effectively masks any possible basement conductors. Processing of the airborne magnetic and EM data, has indicated several structural features affecting both basement rocks and Athabasca sandstone. In combination with the rock geochemistry and clay mineralogy, these will be used to define areas to be surveyed by ground TAMT (transient audio-frequency magneto-telluric) surveys, which have been shown to be capable of locating conductive zones below the Wolverine Point formation, thereby generating drill targets.

Technical information herein has been compiled and/or reviewed by Dr. Colin Bowdidge, PhD, PGeo, vice-president of exploration for the company and a qualified person as defined in National Instrument (NI) 43-101. Assays quoted in this news release were performed by Loring Laboratories Ltd. of Calgary using fluorimetric analytical methods.

� 2007 Canjex Publishing Ltd.