Basin Uranium Corp. announced it has acquired the South Pass Property Uranium Project (the "Project" or "South Pass") located in Fremont and Sublette County, Wyoming, USA. The Project, which was acquired through direct staking by the Company, is comprised of 151 unpatented mineral lode claims totaling 3,775 acres located along the perimeter of the Great Divide Basin of Wyoming.

Wyoming is home to both the largest uranium reserves and top producing state in US1, with the Great Divide Basin representing the least exploited of Wyoming's basins estimated to contain over 270 million pounds of uranium2. The South Pass Uranium Project is comprised of 3,775 acres of contiguous claims (151 unpatented mineral lode claim) located 45 miles southwest of Lander, Wyoming. Access to the property is facilitated through State Highway 28, located within 5 miles to the southeast, with year-round gravel and ATV roads servicing the claims. Exploration dates back to the 1960's and 1970's with several large companies having drilled numerous wells along a 12-mile-long trend that bisects the long axis of the property.

Specifically, close-spaced drilling by Rocky Mountain Energy Corp. (a subsidiary of Union Pacific Railway) in the 1980's reported uranium mineralization at depths of over 400 feet - depths which would be potentially amenable to in-situ recovery (ISR) methods. Evaluation of historical records also indicated a historic resource was calculated on at least two parts of the claims currently comprising the South Pass project, however additional verification and validation must be performed by the Company's Qualified Person before being disclosed publicly.

The reader is cautioned that at this time it is too early to assess the feasibility of these recovery methods at South Pass however mineralization at this depth typically lies within the parameters of ISR mining and recovery.