CAUI Announces Public Release of Bancroft Drilling Results 2007

Bellingham, WA - (WORLD STOCK WIRE) - April 3, 2008 -- CanAm Uranium Corp. (OTCBB:CAUI) is pleased to release the 2007 Bancroft Drilling Results.

The report is available for download at: http://canamuranium.com/sites/bce/files/property/BancroftJVReportSept07.pdf

The report by third party Geologist Tim Beasley, summarizes the drilling results for the Halo Uranium and Amalgamated Rare Earth Property in Bancroft Ontario, Canada. The new results announce the existance of anomoulous radioactivity in the Amalgamated Rare Earth #2 property, which was wide spread in pegmatite. A weighted average of 0.07% grade U3O8 was calculated from all 95 samples from radioactively anomolous drill core. Results suggest from Amalgamated Rare Earth #2 that a uranium resource at a grade of 0.07% U3O8 might be established in the pegmatites on the property. In light of further drill testing radioactive pegmatites are considered open and in both directions along strike and down dip.

“The report will help CanAm Uranium Corp make the best decision on whether futher work and drilling should commence on the property to earn the 80% interest in the Bancroft Properties from Joint Venture Partner El Nino Ventures. Given the suggested uranium resource on the Amalgamated Rare Earth property and past information released with regards to the Halo Uranium project, we believe this information to be positive and will be reviewing options to continue working on the project or to attract a joint venture partner,” says David Hayes, CEO of CanAm Uranium Corp.

Bancroft is known as "the Mineral Capital of Canada" (Bancroft & District Chamber of Commerce) due to the abundance of minerals found in the area, Bancroft was especially well known for its uranium production, as it was once home to four past producing mines, producing a total of 14,862,653 lbs U3O8 between 1956 -- 1982. The Bancroft Uranium Property is comprised of 8 optioned mineral claims with a collective total of 3 million pounds of Uranium historically estimated. Thus far, the 6 holes drilled on the Halo Project have shown assay results that are consistent with historical grades. The report includes information with regards to all 15 holes drilled.

The 2007 Objectives

The objective of the second phase of drilling on the Halo Uranium Project was to define 43-101-compliant reserves, expand the length and depth of the project, and reconfirm historical values. Reserve estimates in 1957 were 472,000 tons, grading 0.112 per cent (2.24 pounds per ton U3O8). No exploration has been done over the last 30 years due to lower uranium prices.

Second Drill Target

The drill was moved to the second target, the Amalgamated Rare Earth project (ARE). Between 1952 and 1957, diamond drilling and underground development identified three zones of uranium mineralization in pegmatite, and a shaft was sunk on the Main zone to 440 feet, with a total of 5,871 feet of underground development completed at three levels. In 1957, the resource was estimated at 292,444 tons at a grade of 0.095 per cent (1.9 pounds per ton) -- not compliant with 43-101.

Other Targets

Silver Crater, Baumhour, Campbell Occurrence
This property is composed of five claims totaling approximately 1,789 acres, and is located in Faraday township. Three uranium showings have been found on this property. The first is a 200-foot-long exposure, with uranium-bearing pegmatites one foot to five feet wide and 20 feet long. The second showing consists of uranium-bearing pegmatites six feet to 18 feet wide and 170 feet long. The third is a discontinuous pegmatite dike which is at least 300 feet long. A total of 15,452 feet of surface diamond drilling on the showings was conducted between 1954 and 1956 and 1967 to 1969, as well as trenching. Geology and geophysics were conducted in 1975 to 1977, with drill core samples averaging 0.06 per cent (1.2 pounds per ton) U3O8, and a best assay of 0.31 per cent (6.2 pounds per ton) over six feet.

Empire B prospect

Located in Monmouth and Cardiff township, this property represents three claim units totaling approximately 1,087 acres. From 1954 to 1955, geophysics and 26 diamond drill holes (12,509 feet) were completed, and a further 11 diamond drill holes (6,922 feet) were completed between 1968 to 1970. Prospecting for fluorite occurred during the periods of 1971 to 1975 and 1976 to 1977, and geophysics and 12 diamond drill holes (6,560 feet) were also completed. Past drilling indicated 2,179,166 tons of U3O8, grading 0.036 per cent (0.726 pound per ton), not compliant with 43-101. It occurs in the southwest part of the claim group in Monmouth township.

Saranac

Two claims have been staked on this property, totaling approximately 691 acres, located in Monmouth township. From 1954 to 1956, a 150-foot open cut comprising 32 drill holes for 7,286 feet was done by Saranac Uranium Mines Ltd., and in 1973 a geological survey and four drill holes for 643 feet were completed by Imperial Oil Ltd. The most recent work on the property was a scintillometre survey by Imperial Oil in 1975. Drill core samples on the property assayed from 0.018 per cent to 0.36 per cent U3O8 (0.36 pound per ton to 7.2 pounds per ton) and a grab sample over a 1,500-foot zone of 15 per cent to 20 per cent zircon mineralization assayed 0.298 per cent U3O8.

McLean, Hogan Occurrence

This property consists of two claims (approximately 691 acres) located in Cardiff township. Trenches on the property expose a complex of mica metamorphic pyroxenite, hornblende gneiss, pegmatite, leucogranite and patches of marble, striking north and dipping east. Activity began on the property in 1953, with 11 trenches created by E.T. Hogan, and additional short drill holes by Cope Lake Mines Ltd. In 1954 to 1955, scintillometre and geological surveys were conducted, as well as bulk sampling and 69 diamond drill holes totaling 1,585 feet, by Anuwon Uranium Mines. Further surveys were conducted in 1968 by Cope Lake Mines, and in 1975, two diamond drill holes of 332 feet were completed by Canadian Nickel Company. Grab samples assayed 0.019 per cent to 0.540 per cent U3O8 (2.62 pounds per ton to 10.8 pounds per ton) and the best bulk sample assayed 0.10 per cent U3O8.

Canada Radium Occurrence

This property is composed of three claims of approximately 840 acres and is located in both Cardiff and Faraday townships. Work on this property began as early as 1936, when Canada Radium Corp. sunk a 400-foot shaft with levels of 125 feet to 375 feet. It also conducted 1,810 feet of lateral work. Between 1939 and 1942, 200 tons of feldspar pegmatite was milled at a separate mill. From 1954 to 1955, geological surveys were conducted, as well as 90 diamond drill holes totaling 43,184 feet. During this period, five radioactive zones, the largest over 400 feet long, were outlined by diamond drilling. Further drilling in 1968 to 1969 of three diamond drill holes for 869 feet by Cam Mines Ltd. intersected numerous narrow uraniferous pegmatites which assayed up to 0.116 per cent U3O8 (2.32 pounds per ton) over one foot. The last work to be done on the property was a radon gas survey by Kerr Addison Mines Ltd. Two additional claims, totaling approximately 296 acres, were staked on this property under this option agreement, in addition to the six claims discussed above.

Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend", "could" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the volatility of uranium prices, the possibility that exploration efforts will not yield economically recoverable qualities of uranium, accidents and other risks associated with uranium exploration and development operations, the risk that CanAm will encounter unanticipated geological factors, CanAm Uranium's need to obtain additional financing, the possibility that CanAm may not be able to secure permitting and other governmental clearances necessary to carry out CanAm Uranium's exploration and development plans, and other risks factors discussed in greater detail in CanAm Uranium's filings with the U.S. Securities and Exchange Commission. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on CanAm Uranium's website does not constitute a part of this release. Information within this release is not NI-43101 Compliant.

About Us

CanAm Uranium Corp. is a Nevada incorporated junior resource company with a corporate objective focused on the strategic acquisition and development of exploration properties in well-known prolific mining areas, especially known for Uranium, of Canada, Southern Africa, Australia and the United States. CanAm Uranium Corp. has optioned claims collectively within the Saskatchewan Athabasca Basin, Ontario and British Columbia, with significant interest in prolific Uranium mining areas.

http://www.CanAmUranium.com

David Hayes, CFO and CEO
Canam Uranium Corp
4th Floor, Crown Plaza Building
114 W. Magnolia Street #424
Bellingham, WA 98225
USA

Phone: 206-274-7598
Fax: 206-299-3484


Source: Canam Uranium Corp
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