VANCOUVER, British Columbia, Aug. 31, 2006 (PRIMEZONE) -- Anglo Canadian Uranium Corp. (TSX-V:URA) (the "Company") is pleased to announce it has acquired thirty-one (31) former producing claims known as the Wild Steer claims, located in Wild Steer Canyon, Paradox Mining District, Montrose County, Colorado. The claim group includes the Wild Steer Mine and the Pluto Mine, which produced uranium and vanadium from 1959 to 1971. Ore grades from these mines averaged 0.15% uranium, and between 1.75% to 2.00% vanadium. The Company is currently reviewing documentation related to production figures for the mines located within the Wild Steer claims. Previous production was facilitated through ore cars on tracks and pneumatic tired wheelbarrows, which was done through manpower.
The Wild Steer claims are located in the Uravan mineral belt on the Colorado plateau, which is recognized as a prolific uranium and vanadium region with historical production. The Uravan mineral belt was one of the world's most productive regions for uranium and vanadium in the 1950's, with all production ceased in 1984 due to low uranium prices. Since 1984 there have been short periods of resumed production due to increased vanadium prices, with no sustained activity until recently. With the increased price of uranium the region is being explored by a number of private and public companies, with a few mines currently in production. In addition to new mining in the area, a processing facility was recently re-commissioned and may be accepting ore from regional mines.
Company management recently returned from Colorado and is also reviewing a number of proposals from regional mining groups for the initiation of exploration programs on all projects located in the Four Corners Uranium region. This exploration program will focus on permitting, environmental studies, drill programs and mining for uranium and vanadium. It is the Company's intention to create a mining subsidiary in this region and open a regional office upon reaching an agreement with any mining group, with a goal of becoming a dominant player in the development of uranium and vanadium projects in the south western United States.
About Anglo-Canadian Uranium Corp.
Anglo-Canadian is an aggressive uranium and gold exploration company with several properties located in Canada and the United States. The Company's current projects include uranium projects located in Colorado, Utah, New Mexico and Quebec, and gold projects in British Columbia. The Company's focus is to acquire uranium and gold deposits in strategic locations through acquisition and option arrangements, and further develop these projects with experienced management teams.
For more information on the Company and its projects, please visit the website at www.anglocanex.com
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