Pitchstone Exploration Ltd. (Pitchstone) is a public company exploring for uranium in Canada and Africa.  Pitchstone is listed on the TSX Venture Exchange and trades under the symbol PXP.  The company was created to acquire highly prospective properties during a depressed price cycle and add value through exploration as the market improved.

Pitchstone began acquiring land in early 2003 in the heart of Saskatchewan’s eastern Athabasca Basin uranium district in proximity to the major, high-grade uranium producers.  Currently the company owns 37.5 to 100% interest in ten properties (54,000 hectares) situated in the eastern Athabasca Basin.

Pitchstone also has a 50% interest in several properties in the Hornby Bay Basin, Nunavut and Northwest Territories.  The Hornby Bay properties include the Mountain Lake deposit, which contains an Inferred Mineral Resource (NI 43-101 compliant) of 8.2 million pounds U3O8 contained in 1.6 million tonnes at an average grade of 0.23% U3O8, above a cutoff grade of 0.10% U3O8.

The company has also entered into an agreement with Cameco Corporation and Motapa Diamonds to jointly explore Motapa's extensive uranium exploration licenses in the Franceville Basin of Gabon, west Africa.  And in January 2007 Pitchstone obtained an option on three large uranium exploration properties in Namibia. 

All of the four regions in which Pitchstone is active are currently or have been significant uranium producers.  The company is aggressively exploring all of its properties with an emphasis on drilling.  Pitchstone’s personnel have extensive expertise in uranium exploration and production.

At December 20, 2007

Shares Issued & Outstanding:    30.9 million

Shares Fully Diluted:                 34.2 million

 

 

 

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