MCLEAN, Va., Nov. 10, 2006 (PRIMEZONE) -- Thorium Power Ltd. (OTCBB:THPW) announced that its Chief Executive Officer, Seth Grae, will participate in a private luncheon sponsored by Goldman Sachs focusing on alternative energy investments. A number of cutting edge alternative energy companies will participate at the event, which will be hosted by the head of Goldman Sach's Alternative Energy Investment Effort team. The event is at the Harbor Court Hotel in Baltimore, Maryland, on November 10th at 12pm.
The participants of this luncheon will discuss emerging trends in the rapidly growing space and network with both portfolio mangers and industry peers. This event will provide Thorium Power an excellent opportunity to impart its proprietary nuclear fuel technologies and communicate the Company's value points to industry experts.
Seth Grae, CEO of Thorium Power, commented, "Of all alternative energy solutions, including wind, solar, and biomass, nuclear energy offers a compelling case especially when base-load requirements are factored in. Unfortunately, nuclear energy must overcome the challenges of radioactive waste and proliferation issues. For over a decade, Thorium Power has been developing fuels that address the most arduous obstacles faced by the nuclear industry. In regards to waste, Thorium Power fuels offers many environmental advantages over conventional nuclear fuels. And, with respect to proliferation, we know of no other technology that addresses this challenge to the extent of our solutions."
About Thorium Power Ltd. (www.thoriumpower.com)
Thorium Power Ltd. is involved in the nuclear power sector. Its focus is on technologies and services that will benefit from, and help lead to, expanded use of nuclear power generation. The company has assembled an International Advisory Board comprised of key national and international leaders in the fields of Nuclear Energy, Finance, Government Affairs, Non-proliferation and Diplomacy. Thorium Power Ltd. also has put together a Technical Advisory Board made up of top scientists and practitioners from the world's major nuclear companies. Thorium Power Inc., a wholly-owned subsidiary of Thorium Power Ltd., is a leading developer of proliferation resistant nuclear fuel technologies. Thorium Power Inc. designs nuclear fuels, obtains patent protection on these fuels, and coordinates fuel development with commercial entities and governments. The company has been working in Russia with Russian nuclear engineers and scientists for over a decade.
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This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the proposed merger and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "expects," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks, as well as other risks associated with the merger, will be more fully discussed in any joint proxy statement or prospectus or other relevant document filed with the Securities and Exchange Commission in connection with the proposed merger. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.