UVN Uravan Minerals Inc

Uravan Minerals Inc. (TSX VENTURE:UVN) ("Uravan" or the "Corporation") is
pleased to announce that, subject to regulatory approvals, it intends raise to
up to $600,000 in a non-brokered private placement by issuing up to 4,000,000
units ("Units") at a price of $0.15 per Unit (the "Offering").


Each Unit will consist of one common share ("Common Share") issued on a flow
through basis pursuant to the Income Tax Act (Canada) and one non-flow-through
share purchase warrant ("Warrant") of the Corporation. Each Warrant will expire
after two years and will entitle the holder to acquire one Common Share of the
Corporation at a price of $0.20 per share for the first year following the
closing date of the Offering and $0.25 per share for the period beginning 12
months from the closing date until 24 months from the closing date of the
Offering.


Completion of the private placement is subject to the satisfaction of certain
conditions including the receipt of all necessary regulatory approvals,
including those of the TSX Venture Exchange. There can be no assurance that the
private placement will be completed or that, if completed, it will be on the
terms currently contemplated. The securities issued pursuant to the offering
will be subject to a four-month hold period from the date of closing under
applicable Canadian securities laws.


Proceeds of the Offering will be used by the Corporation to finance potential
uranium exploration opportunities on the Corporation properties in the Athabasca
Basin.

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