Utah Uranium Corporation (OTCBB: UTUC) is a Moab, Utah-based junior exploration and development company focused on the acquisition of past producing underground uranium mines that can be brought back into production in the near term with a low capital expenditure. All of the mines currently in the acquisition pipeline are within economic haul distances of the White Mesa Uranium Vanadium Mill in Blanding, Utah owned by Dennison Mines. The white Mesa Uranium Mill is currently the only operating Uranium mill in the United States.

To date, UTUC has acquired mineral rights to 10,255 acres of leased or staked mineral uranium properties directly and through joint venture interests. All of its properties are within economic haul distances (60-180 miles) of the Henry Mountains Complex, one of the largest known uranium resources in the Colorado Plateau District. Moreover, Ted Murer, an exploration geologist who conceptualized and discovered the complex’s first mine in the 1980s (the Tony M Mine), has assembled UTUC`s Pinto claim using the same data and methodology in the identical geologic setting as the Tony M Mine and the Bullfrog Mine, which are also part of the complex.

UTUC has purchase agreements for five uranium prospective properties (517 claims) spread across Utah and Colorado. The Company reported mineral property assets of approximately $880,000 at September 30, 2007. Over the next 12 months the Company is required to make payments of $580,000 on its properties.

UTUC has exploration programs planned for all of its projects; these programs utilize modern exploration technologies and the data acquired through previous on-site exploration programs to maximize the likelihood of locating uranium. The Company also uses information and work product derived from various reports, maps, radioactive rock samples, exploratory drill logs, state organization reports, consultants, geological study, and other exploratory information to direct its efforts.

Additional Uranium Property Acquired

On January 23, UTUC announced the signing of an agreement to purchase a 100% interest in the "Wild" claims, located north of Hanksville, Utah.

The Wild claims consist of 23 mineral claims located within the Henry Mountain Syncline of East Central Utah. The Henry Mountain Syncline is an enclosed structural basin within the Colorado Plateau of southeastern Utah that is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration of oxygenated water containing liberated uranium tends to flow down-dip within the formation into the trapped, oxygen free static water creating a zone of major ore concentration known as a roll-front environment.

The first discovery, known as the Tony M mine, was made in the 1980s by Plateau Resources, a division of Michigan Light and Power and consists of 10,898,000 pounds U308. Subsequently, the Bullfrog mine was discovered adjacent and north of the Tony M mine by Imperial Oil Corporation, and consists of an additional 12,924,000 pounds U308. These mines are currently owned by Denison Mines and are collectively known as the Henry Mountains complex, one of the largest known uranium resources in the Colorado Plateau district.

The company has acquired the Wild claims from Christian (Ted) Murer P.Geo, the prospector geologist who conceptualized, discovered and currently holds a production royalty on the Tony M mine. Ted has assembled the Wild claims, as well as the previously purchased Pinto claims, using the same data and methodology.

Cost of the acquisition to the Company includes the issuance of a total of $275,000 and the issuance of 600,000 shares within the following time frame: 100,000 shares and $75,000 on signing; 250,000 shares and $100,000 by January 15, 2009; and 250,000 shares and $100,000 by January 15, 2010.

Joint Venture Announced

Two weeks after announcing the signing of the purchase agreement, UTUC announced the signing of a Joint Venture Agreement with Consolidated Abaddon Resources Inc. ("Abaddon") of Vancouver, B.C.

Under the terms of the Agreement, Abaddon will be responsible for payments to Utah Uranium totalling $195,000, the issuance of a total of 300,000 shares over the life of the agreement, and they will be required to complete a minimum of $600,000 in work on the property in a two-phase work program prior to December 1, 2008. On completion of certain milestones within the agreement, Abaddon will be deemed to have earned up to a 60% interest in the property.

Drill Permitting Underway

The Company is in the filing process for permitting a drill program for the Wild claims. Historically, there were a number of drill holes made on the Wild property by Continental Oil Company in 1969. As part of their activities, down-hole logging was performed on these holes, revealing radioactive mineralization in several holes. It is the intention of the Company to drill in the vicinity of those previous holes in order to properly assess the uranium/vanadium content.

Corporate Strategy

UTUC plans to continue to expand its mineral resources through both exploration and drilling programs on existing properties and acquisitions, and advance its projects from exploration and development to production with the goal of generating cash flow to fund further exploration and acquisition activity.

Acquisition activity in 2008 will focus on additional mineral properties and claim blocks located in, but not limited to, the "Four Corners" area of the Western US, with a primary focus in Utah and Colorado.

UTUC plans to:

• Continue exploring for uranium and vanadium on properties which have been explored in the past and showed promise of mineral reserves (Family Butte, Hat and Hoopie)
• Develop the Pinto project, with the goal of generating cash flow to support additional programs
• Commence a substantial drilling campaign on the Whale Property
• Continue to build a project portfolio by staking claims and making acquisitions
• Build a well-financed, diversified exploration program
• Reduce exploration risk and increase economic viability

Geology and Mineralization

Exploration activity focuses on the Colorado Plateau, an area that covers nearly 130,000 square miles in the Four Corners region of the US. The dominant geologic feature of the Colorado Plateau has been its comparative structural stability since the close of Precambrian times. Folding and faulting of the basement during the Laramide orogeny of Late Cretaceous and Early Tertiary time produced the major structural features of the Colorado Plateau. However, compared to adjacent areas, it affected the Plateau only slightly.

The Henry Mountains Basin, a sub-province of the Colorado Plateau physiographic province, is an elongate north-south-trending, doubly plunging syncline in the form of a closed basin. The Henry Mountain Syncline is entirely underlain by the massive uranium bearing Salt Wash sandstone member of the Morrison formation. The hydraulic migration, which contains liberated uranium in solution, flows down the formation into the trapped, oxygen-free static waters within the basin. This creates a reducing environment which precipitates ore grade uranium, resulting in a zone of major ore concentration otherwise known as a roll-front environment.