Mr. Lawrence Hay reports

OBERON URANIUM CORP. TO CONDUCT PRIVATE PLACEMENT

Oberon Uranium Corp. will be conducting a non-brokered private placement under which it will raise aggregate gross proceeds of up to $2-million. The offering will consist of the issuance of: up to 20 million units at a price of five cents per unit for gross proceeds of up to $1-million; and up to 13,333,333 flow-through units at a price of 7.5 cents per FT unit for gross proceeds of up to $1-million. Each unit consists of one Class A common share in the capital of the corporation and one share purchase warrant (each, a warrant, entitling the holder thereof to acquire one additional share at an exercise price of 7.5 cents per share for a period of 24 months from the date of issuance). Each FT unit consists of one share that will be issued as a flow-through share within the meaning of Subsection 66(15) the Income Tax Act (Canada) and one share purchase warrant (each, a FT warrant, entitling the holder thereof to purchase one share, not issued as a flow-through share, at an exercise price of 10 cents per share for a period of 24 months from the date of issuance).

The company intends to use the proceeds from the sale of the units for general working capital. The proceeds received by the company from the sale of FT units will be used to incur eligible Canadian exploration expenses (CEE) that are flow-through mining expenditures (as such term is defined in the Income Tax Act (Canada)).

The company may pay finders' fees in connection with the offering. Securities issued under the offering will be subject to a fou- month hold period in accordance with applicable Canadian securities laws.

About Oberon Uranium Corp.

Oberon Uranium is a mineral exploration company with a 100-per-cent interest in the past-producing Lucky Boy uranium property located in Arizona, United States. Oberon also owns a 100-per-cent interest in the Fusion uranium zone project and the Element 92 property both located in the Athabasca region of Saskatchewan, Canada.

We seek Safe Harbor.