Anglo-Canadian arranges $200,000 financing

Anglo-Canadian Uranium Corp (C:URA)
Shares Issued 39,484,873
Last Close 6/4/2008 $0.145
Thursday June 05 2008 - News Release
Mr. Len Harris reports
ANGLO CANADIAN URANIUM CORP UPDATES OTISH BASIN AIRBORNE SURVEYS
Anglo Canadian Uranium Corp. has signed an agreement with Precision GeoSurveys Inc. to conduct an airborne radiometric and magnetic survey on the 100% owned Big Mac and Charles Uranium Projects located in the Otish Basin in Quebec, Canada. These uranium projects consist of two mineral properties covering 4,179 hectares in the Otish Basin of QuAcopyrightbec. The Company's Big Mac property is located 350 km northwest of Chibougamau in central Quebec. The property is located within 0.5 km of the Cogema/Soquem property and 2.5 to 3 km east of the L-Zone property deposit. The Charles property is located 15 km southwest of the Big Mac and is close to the southern edge of the basin. The main participants in the earlier uranium exploration of the Otish Basin were: Soquem, Uranerz, Phelps Dodge, Pancontinental-Cominco, Atlantic Richfield, Shell Oil, and Cogema. The Otish Basin may be compared to the Athabasca Basin in Saskatchewan, which accounts for approximately one third of global Uranium production. The Strateco Matoush uranium discovery is located approximately 70 km west-southwest of the Big Mac and Charles Uranium Projects. The uranium mineralization is concentrated in porous sedimentary rocks at their intersection with a north-south fault containing gabbro dyke remnants. The source area for these anomalies is considered to have the potential to host the root zone of an unconformity deposit at the west contact of the gabbro dyke.
The Company is also undertaking a non-brokered private placement in the amount of $200,000 which consists of 1 million flow-through units at a price of $0.20 per unit. Each unit shall consist of one (1) share and one half (A one-half) of one warrant. One full warrant is exercisable for one (1) share at a price of $0.30 for a period of one year. This private placement is subject to TSX Venture Exchange approval.
© 2008 Canjex Publishing Ltd.