URU Metals Limited (AIM:URU), which is 39.7% owned by NWT Uranium Corp. (the
"Corporation") (TSX VENTURE:NWT)(FRANKFURT:NMV) announced that they have entered
into an agreement with their Joint Venture partner, Southern African Nickel
Limited ("SAN"), to acquire 100% interest in SAN. As a result of this purchase,
URU now owns 100% interest in the Southern African Nickel Joint Venture ("SAN
JV"). The SAN JV holds 74% interest in the Zebediela Nickel Project and 50%
interest in the Burgersfort Nickel Project. URU will pay the shareholders of SAN
US$1 and will pay the JVs current outstanding obligations of approximately
US$185,000 to its operating consultant, Pangea Exploration, a non-arms length
company to SAN. 


"We see tremendous value in this nickel asset and a great opportunity to
leverage the current commodity pricing," says NWT Uranium CEO David Subotic.
"NWT Uranium is committed to monetizing this asset to enhance shareholder
value."


Highlights 



--  URU has increased its interest in the Zebediela Nickel Project from 37%
    to 74% and in the Burgersfort Project from 25% to 50% 
--  Minimal consideration for a quality project 
--  Nearer to a resolution to arbitration as it re-establishes discussions
    with Umnex Mineral Holdings Limited, their BEE partner 



"Investing actively in URU Metals and identifying it as an investment growth
opportunity was always on the radar when we decided to increase our ownership in
the company," says Subotic. "As NWT Uranium continues to work with the TSX, we
will continuously seek out lucrative opportunities such as URU Metals to bring
more value to shareholders."


Umnex Mineral Holdings Limited ("Umnex"), the South African BEE partner on the
Zebediela Project holds the remaining 26% of the Zebediela Nickel Project
through its interest in the SAN-Umnex Joint Venture. SAN and Umnex are currently
in the middle of an arbitration process regarding the Zebediela Nickel Project
over issues within the San-Umnex Joint Venture. Through this purchase, URU
inherits SAN's interest in the arbitration process. 


Additional information regarding the SAN Nickel JV Projects can be found on URU
Metals website at www.urumetals.com.


FOR THE PURPOSE OF PROVIDING INFORMATION RELATING TO THE SAN JV NICKEL PROJECT,
THE CORPORATION IS RELYING ON HISTORICAL INFORMATION. ALL INFORMATION PERTAINING
TO THE SAN JV NICKEL PROJECT WAS DERIVED FROM HISTORICAL GEOLOGICAL REPORTS AND
HAS NOT BEEN VERIFIED.


Background information on SAN JV Nickel Projects 

The Zebediela Nickel Project is located in the Limpopo Province of South Africa
close to the platinum mining town of Mokopane, very close to existing rail,
highway, and electrical power infrastructure. 


The Zebediela Nickel Project is a large disseminated sulphide resource with
mining engineering aspects similar to porphyry copper deposits in terms of size
and grade. The NI 43-101-compliant PEA led by the MSA Group outlined indicated
resources of 485.4 million tonnes averaging 0.245% nickel, and additional
inferred resources of 1,115.1 million tonnes of 0.248% nickel. The Zebediela
Project also contains significant iron minerals in the form of magnetite that is
also being investigated as a potential by-product. 


The PEA considered the mining and milling of only 500 million tonnes of
mineralized material in an open pit mine approximately 1700 m long by 880 m wide
by 250 m deep. The proposed mining rate is 20 million tonnes per annum using a
contractor mining fleet. The strip ratio was calculated to be 0.36:1. 


Extensive work was conducted on the Zebediela deposit metallurgy indicating that
50% of the total contained nickel could be recovered into a high quality
saleable nickel concentrate averaging 16% Ni. Start-up capital expenditures
including contingencies and working capital are estimated to be $650 million and
sustaining capital is estimated at $58 million over the life of the mine.
Operating expenditures are estimated to be $3.35 per pound of recoverable
nickel. 


The PEA projects a pre-tax and pre-royalty net present value of $1,018 million,
an internal rate of return of 25.7% and a 3.8 year payback period at an 8%
discount rate using a nickel price of $8.50/lb and a ZAR/USD ratio of 8.1.
Annual cash flow is project to be $203 million. Shareholders are advised that
mineral resources that are not mineral reserves do not have demonstrated
economic viability.


URU is aware of the potential value of a magnetite as an iron concentrate
by-product at Zebediela since the inception of the project. Metallurgical work
investigating by-product magnetite was included in the scope of the PEA
investigations, but due to analytical delays, any potential economic impact from
iron by-product was not included in the report. 


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release
includes certain "forward-looking statements" under applicable Canadian
securities legislation. Forward-looking statements include, but are not limited
to, statements with respect to: the terms and conditions of the proposed COB
transaction; use of funds; and the business and operations of the Corporation
after the proposed transaction. Forward-looking statements are necessarily based
upon a number of estimates and assumptions that, while considered reasonable,
are subject to known and unknown risks, uncertainties, and other factors which
may cause the actual results and future events to differ materially from those
expressed or implied by such forward-looking statements. Such factors include,
but are not limited to: general business, economic, competitive, political and
social uncertainties; delay or failure to receive board, shareholder or
regulatory approvals. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. The Corporation disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by law. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
NWT Uranium Corp.
David Subotic
CEO
(416) 504-3978
www.nwturanium.com


TUNED PR
Gavin Davidson
(416) 999-7138
NWT Uranium Corp. (TSXV:NWT)
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