RNS Number:7923H
Nufcor Uranium Limited
17 August 2006


THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES, CANADA, JAPAN OR AUSTRALIA



 NUFCOR URANIUM LIMITED REPORTS NET ASSET VALUE AND ADJUSTED NET ASSET VALUE AT
                                  31 JULY 2006


Nufcor Uranium Limited ("NUL") reports its net asset value(1) at 31 July 2006 
was #62,210,780(3) (US$ 116,147,527) or #1.89 per share (US$ 3.52 per share).
NUL's Adjusted net asset value(2) as at 31 July 2006 was #62,776,527 
(US$ 117,203,777) or #1.90 per share (US$ 3.55 per share). As at 31 July 2006,
NUL's investment portfolio consisted as follows:

(in US dollars, except quantity      Quantity        Cost          Market
amounts)                                                           Value
                                        
Investments:
Physical Uranium Holdings            1,350,000 lbs   $61,762,500   $63,956,250
                                                      
Uranium Subject to Forward
Purchase Contracts                   650,000 lbs     $29,737,500   $30,793,750
         
                                                     ----------    ----------
                                                     $91,500,000   $94,750,000
                   
                                                     ----------    ----------
Average purchase/contracted
cost and market value per
pound:                                                   $45.750       $47.375

1 Net asset value equals the total assets of the Company, less its adjusted
total liabilities (including accrued but unpaid fees) valued in accordance with
the Company's accounting policies, except that investments in uranium are valued
at the average of (i) the month end UxC U3O8 spot price indicator (as published
by Ux Consulting Company, LLC in its Ux Weekly publication) and (ii) the month
end TradeTech U3O8 exchange value (as published by TradeTech, LLC in the Nuclear
Market Review), ("the Average Published Price").

2 Adjusted net asset value is equal to the net asset value adjusted to include
the fair value of forward Uranium purchase and sales contracts entered into by
the company with reference to the Average Published Price.

3 All sterling amounts are translated at the 31 July 2006 exchange rate of US$
1.867/ #1.00.


About Nufcor Uranium Limited

Nufcor Uranium Limited is an investment company created to invest substantially
all of its assets in natural uranium in the form of uranium oxide (Uranium) with
the primary investment objective of achieving capital appreciation in the value
of its Uranium holdings.


For further information, please contact:

Nufcor Capital Limited                      +44 207 939 1830
Gary Stoker
Rian Raghavjee

Smithfield                                  +44 207 360 4900
Rupert Trefgarne




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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