Pitchstone Exploration Ltd. ("Pitchstone"), operator of the Darby-Candle Project that includes sxr Uranium One Inc. (TSX: SXR), reports important uranium values were intersected in diamond drill hole CD02 on the Candle property. The project is situated in the eastern Athabasca Basin, Saskatchewan, 9 km west of the Cigar Lake mine.

A 2.6 m core interval (NQ2 size) from 597.9 to 600.5 m averaged 169 ppm uranium, including 0.5 m from 599.6 to 600.1 m that contained 422 ppm uranium (0.05 % U3O8). The unconformity was intersected at 600.3 m in the hole, which was drilled at a -88° inclination. Values obtained for boron, copper, cobalt, nickel, lead and vanadium in proximity to the mineralized interval are also anomalous and considered to be favorable indicators of a mineralizing system similar to that at major unconformity related deposits in the region. Radioactivity in CD02 was previously reported in News Release 06.13 (April 13, 2006).

CD02 was an initial test of conductor 97G, a prospective zone that has a 2 km strike length on the Candle claim and extends an additional 4 km on the Darby property. Consulting Geologist Nick Andrade noted that, "although there is minor graphite present in the core, this hole did not intersect the conductive zone and the hydrothermal uranium mineralization may to be related to fluid flow along sub-horizontal fractures or the unconformity". Andrade, formerly Chief Geologist at Cigar Lake, is project manager for the drilling program and a Qualified Person for the purposes of NI 43-101.

The intersection in CD02 is an encouraging advancement for a number of reasons:
1. It is the most important mineralization encountered to date on the Darby-Candle project.
2. The mineralization is in sandstone immediately above the unconformity.
3. The actual target, the intersection of the conductor with the unconformity, has not yet been tested.
4. The geochemical signature (U, B, Cu, Co, Ni, Pb, V) is similar to major Athabasca unconformity related deposits.
5. CD02 is the only hole drilled to date to test the 6 km long zone.

There are many prospective targets at Darby-Candle and Pitchstone will resume drilling as soon as access can be re-established to the property, possibly later this year. Pitchstone plans to resume drilling in the near future at the Waterfound Project, where encouraging results were obtained last fall and access is year round (see Feb. 2, 2006 News Release).

The Darby-Candle Project is a major land position (19,316 ha) in proximity to the two highest grade, large uranium deposits in the world, McArthur River and Cigar Lake, with a similar geological setting. Exploration on Darby-Candle has been funded by sxr Uranium One Inc., which is earning 50% of Pitchstone's interest in five Athabasca Basin projects. The Candle property has been optioned from JCU (Canada) Exploration Company, Limited; Pitchstone can earn a 75% interest.

Steve Blower, P.Geo., Director of Exploration for Pitchstone, is the Qualified Person for the purposes of NI 43-101 with respect to the technical information in this news release. Sample preparation and analyses were done by SRC Geoanalytical Laboratories, Saskatoon. A partial digestion with chemical analysis (fluorimetry) was used for uranium determinations. All samples containing greater than 100 ppm uranium were re-run using ICP analysis.

Pitchstone is a uranium exploration company with eight exploration projects in the Athabasca Basin, Saskatchewan. Also, in the Hornby Bay Basin, Nunavut and NWT, Pitchstone has four projects including an interest in a significant NI 43-101 compliant uranium resource (see Oct. 14, 2005 News Release). The company is also jointly funding uranium exploration in Gabon with Cameco Corporation.

For further information contact:
Ted Trueman, CEO,
(604) 687-3520,
ted@pitchstone.net;

Mark T. Brown, CFO,
(604) 687-3520,
mtbrown@pacificopportunity.com

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