December 17, 2007
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Namibia Exploration Update
Pitchstone Exploration Ltd. (TSX-V: PXP) is pleased to provide an update on exploration conducted during 2007 in Namibia. Pitchstone has an option to earn up to an 80% interest from Manica Minerals Ltd. in three properties that cover approximately 500,000 ha. Exploration completed includes prospecting, sampling, satellite spectral data interpretation, acquisition and interpretation of airborne radiometric and magnetic data, time domain electromagnetic soundings and radon (RadonX) surveying. Radon anomalies were outlined on both the Kaoko and Dome properties. The Dome property is located approximately 70 km southwest of the large Rössing deposit in west central Namibia. Rössing, which is the major source of Namibian uranium production, is situated at the margin of an elliptical basement dome mantled with Damaran meta-sediments and intruded by uraniferous granites. The main target on the Dome property is a covered geophysical feature 5 km long that is very similar in size, shape, geophysical expression and interpreted geology to that at Rössing. A radon survey over the Dome area has outlined several anomalous zones around the margin of the elliptical feature; the next step will be to drill test some of these zones. Exploration in Namibia in 2008 is currently being planned. Work will likely include additional prospecting, sampling, geological mapping, radon surveying and an initial phase of drilling at Dome. Steve Blower, P.Geo., Vice President 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. Pitchstone is actively exploring for uranium in four proven districts. The property portfolio features ten projects in the eastern Athabasca Basin, Saskatchewan, five of which are joint ventured with Uranium One Inc. and five being 100% owned. In addition, there are five joint venture projects with Triex in the Hornby Bay Basin, Nunavut and NWT, an exploration partnership with Cameco and Motapa Diamonds in the Franceville Basin, Gabon, and an option on three projects in Namibia. Pitchstone has a unique group of geologists with extensive uranium exploration and production experience.
On behalf of the Board, E.A.G. (Ted) Trueman, CEO and Director
For further information contact: Ted Trueman, CEO, (604) 630 5563, ted@pitchstone.net, Mark T. Brown, CFO, (604) 687 3520, or www.pitchstone.net The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company’s control, that may cause actual results or performance to differ materially from those currently anticipated in such statements.
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