Detailed electromagnetic surveying and radiometric prospecting are underway on the Dome property in Namibia.  This will follow up on uranium mineralization discovered by prospectors and intersected in recently completed drill holes in the Dome North area.  The current program is designed to define targets and will be followed with additional drilling.

Also, the company has arranged with Bryson Drilling to complete up to 6,000 meters of core drilling on its Athabasca Basin Saskatchewan properties in 2010.  Drilling will focus on the highly prospective, 100% owned, Gumboot property.

Initial analytical results from the reverse circulation drilling program on the company's Dome North property in Namibia were received.  Analyses confirm that the source of the radioactivity observed in down hole gamma probe data is uranium.  Three drill holes intersected near-surface, calcrete-hosted mineralization containing greater than 100 ppm U₃O₈.  A 1.0 meter interval in hole DN-23, at a depth of 6.0-7.0 meters, contained 352 ppm U₃O₈ plus 66 ppm vanadium.  Vanadium, up to 253 ppm, was reported in all holes sampled.  Additional prospecting, geophysical surveying and drilling are planned.

Due to other priorities, Pitchstone has withdrawn from any further participation in exploration in Gabon.

Analytical data from the summer drilling program on the Gumboot property continues to outline a zone of moderate to strong alteration and faulting with uranium, nickel and cobalt mineralization in proximity to the Athabasca unconformity.  During the summer program individual samples containing up to 0.66%  U₃O₈, 11.10% Ni and 0.57% Co (over 0.3 m in drill hole GB-10) were encountered.  Other intersections from the summer include 14.1 m in GB-07D2 that averages 1.04% Ni, 0.15% Co and 0.01% U₃O₈.

Uranium, nickel and cobalt mineralization intersected in drill holes at Gumboot is located at or near the Athabasca unconformity, in both sandstone (above the unconformity) and the graphitic basement (below the unconformity).  Recent geophysical surveys and drill core data have improved the geological interpretation, particularly the shape and orientation of the zone.  The zone remains open along strike in both directions and will continue to be aggressively explored during the winter drilling season.

The drilling program on the Dome North property in Namibia was completed with a total of 734 meters drilled in 37 holes.  RC drilling was designed to provide an initial test of a large area considered to be prospective for calcrete-style uranium mineralization similar to that at the nearby Langer Heinrich deposit.

Significant radioactivity was observed in down hole gamma probe results in two drill holes at Dome North, one of which (DN-11) was in the immediate area of previously discovered surface mineralization with up to 0.19% ,U₃O₈ in grab samples.  The other (DN-23) is located 700 meters from the area of surface mineralization.  The intersection in DN-23 is particularly encouraging due to the thickness and level of radioactivity in the zone.  Radioactivity in DN-23 is open in all directions as the nearest drill hole is 380 meters away.

A contract was signed with Swakopmund-based RCDS to complete an initial drill program on the Dome North uranium discovery in Namibia.  A minimum of 20 reverse circulation holes will test recently discovered uranium mineralization as well as radon anomalies and interpreted paleochannels.

A zone of calcrete-hosted uranium mineralization was discovered at Dome North during scintillometer prospecting in March of this year.  Five of six grab samples from the zone are mineralized and contain 196 to 1,620 ppm uranium (0.02-0.19% U₃O₈).  The samples were collected along a 2.5 kilometer long portion of a dry drainage channel.  Along with this zone of mineralization, additional targets to be drill tested include several elongate conductivity anomalies that are interpreted to represent buried paleochannels.  Some of these anomalies are in proximity to the mineralized area and several are coincident with radon anomalies identified in 2008.

The company completed a non-brokered private placement for gross proceeds of $610,000.

Approximately 3,000 meters in four holes were completed in the summer drilling program on the company's 100% owned Gumboot property.  The target is a 5 kilometer long conductive zone of which only short sections have been tested to date.  All holes completed have intersected a zone of moderate to strong alteration and faulting with anomalous radioactive intervals in proximity to the Athabasca unconformity.  The strongest radioactivity was encountered in hole GB-10 where drill hole probe readings to 18,000 counts per second (cps) were recorded.  This radioactivity is at a down hole depth of 675 meters in basement graphitic gneiss and is within a radioactive zone intersected over a 3.5 meter core length that averages greater than 3,200 cps with the probe, or about 20 times background.  The radioactive material is associated with silver-colored metallic minerals tentatively identified as cobalt-nickel arsenides.  Samples are being submitted for analysis.

A 128 line kilometer electromagnetic survey was completed on the Dome property in Namibia.  The area is located 65 kilometers south-southwest of the Rössing uranium mine and 60 kilometers southwest of the Langer Heinrich uranium mine.  The survey covered an area at Dome North that includes a zone of calcrete-hosted uranium mineralization discovered during an exploration program completed in March of this year.  Five of six grab samples from the zone are mineralized and contain 196 to 1,620 ppm uranium (0.02-0.19% U₃0₈).  The survey was successful in identifying several elongate conductivity anomalies that may be related to buried paleochannels.  Some of these anomalies are adjacent to or near the mineralized area, and several are coincident with radon anomalies identified during a survey completed in 2008.

A non-brokered private placement was completed.  Due to strong demand, the placement was increased to $610,000 or 1.525 million units.  At month-end, the company had approximately $6 million in cash.

The 2009 summer drilling program on the Gumboot property began June 22.  The planned program has been increased to six drill holes that will test two priority target areas.  At least three drill holes will target a mineralized zone discovered in March 2009 on the MJ-4 conductor.  All five holes that previously tested this area had intersected a thick zone of moderate to intense alteration in proximity to the Athabasca unconformity.  In addition to uranium values to 2.06% U₃0₈, very high levels of nickel (to 10.8%), cobalt (to 4.60%) and other pathfinder metals were encountered at Gumboot earlier this year.  The mineralization sits immediately above faulted basement graphitic gneisses, a common geological setting for unconformity style mineralization in the Athabasca Basin.

The company is planning additional drilling on its Gumboot property that is scheduled to begin in early June.  Bryson Drilling has been contracted for a minimum 3,000 meters of core drilling for this phase.

All five holes that have tested the conductive target at Gumboot have intersected a thick zone of moderate to intense alteration in proximity to the Athabasca unconformity.  In addition to uranium values to 2.06% U₃0₈, very high levels of nickel (to 10.8%), cobalt (to 4.60%) and other pathfinder metals have been encountered.  To date, drilling at Gumboot has only tested 150 meters of the 5 kilometer long Gumboot conductive zone.  A recent gravity survey has outlined a compelling target area along strike from the mineralization drilled to date.  This target area extends about 1.5 kilometers north of the area drilled.  Previous drilling has been at the margin of the large gravity low.  In addition to continuing to test extensions of the known mineralization, Pitchstone also plans to test the gravity anomaly target area.

In other news, Pitchstone expanded its land position by staking a new 843 hectare claim contiguous with the Darby property.  This claim is 100% owned by the company.  Pitchstone is now involved in 12 projects in the eastern Athabasca Basin totaling 70,679 hectares.

The strongest mineralization at Gumboot is in drill hole GB-07 in basal sandstone, where 0.11% U₃0₈ over 4.2 m, including 2.06% over 0.1m, was intersected.  Exceptionally high values of pathfinder metals, including nickel to 10.8%, cobalt to 4.60%, and silver to 52 g/t, were also intersected.  These metals are often associated with Athabasca unconformity uranium deposits and are considered a positive sign for a significant uranium mineralizing system.  Drilling to date has only tested 150 meters of the 5 km long conductive zone and a great deal more drilling will be required.

In other significant developments, Pitchstone signed a letter agreement with Japan Oil, Gas and Metals National Corporation ("JOGMEC"), whereby JOGMEC has an option to earn a 50% interest in the company's Wolverine and Marten properties.  To exercise this option, JOGMEC has paid Pitchstone $200,000 and must spend $1,800,000 in exploration on the properties.  Pitchstone will be the operator of all exploration programs.  A helicopter-borne magnetic and electromagnetic survey (VTEM) over the properties was previously completed.

The company also signed a letter agreement with Denison Mines Corp. ("Denison"), whereby Denison has granted Pitchstone the right to earn up to a 75% interest in Denison's Johnston Lake property situated in the eastern Athabasca Basin, Saskatchewan.  The property comprises four claims totaling 15,666 ha, three of which are contiguous with Pitchstone's Gumboot property.  Results reported by previous owners in widely spaced drilling on a 10 km long conductor trend at Johnston Lake include assays up to 0.27%  U₃0₈ over 0.5 m.

In the ongoing 2009 winter drilling program in the eastern Athabasca Basin, two holes have been completed on the Gumboot property and both intersected significant radioactive zones associated with strong fracturing and alteration in proximity to the unconformity.  GB-05 intersected a 13 meter zone of weak to moderate radioactivity, averaging 635 counts per second (cps; ~10X background) as measured with a down-hole Mount Sopris 2PGA-1000 probe.  Maximum radioactivity in this interval was 2,100 cps (~35X background).  GB-06 intersected moderate to strong radioactivity averaging 2,850 cps (~50X background) over a 4.8 meter interval.  Maximum radioactivity measured with the down-hole probe in this interval was 12,000 cps (~200X background).  In both drill holes, core recovery was good and samples are being submitted for analyses.  Two holes on each of the company's joint ventured Darby and Candle properties were also completed to test four separate targets (see News Release 09.70 for details).

In addition to drilling in the Athabasca Basin, an initial drill test on the Dome property included 1,294 meters in eight holes.  Several holes confirm the presence of favorable Nosib Group stratigraphy, including meta-sediments interpreted to belong to the Rössing  and Khan Formations.  One hole intersected "alaskite", with weakly anomalous radioactivity, similar to that which hosts uranium mineralization at Rössing.

The company began its 2009 winter drilling program in the eastern Athabasca Basin.  Pitchstone personnel, along with Bryson Drilling Ltd., mobilized to the site in early January.  Uranium targets on the Candle, Darby and Gumboot properties, totaling approximately 6,000 m, will be diamond drilled.  Drilling has also resumed on the Dome property in Namibia.  The initial focus on Dome is a Rössing style, granite-hosted, uranium target.