Mr. Lawrence Hay reports

OBERON URANIUM CORP. ANNOUNCES PROPOSED SALE OF ELEMENT 92 URANIUM PROPERTY

Oberon Uranium Corp. has entered into a property purchase and sale agreement with Forty Pillars Mining Corp., an arm's-length party to Oberon, pursuant to which Oberon has agreed to sell its Element 92 uranium property, composed of a single Saskatchewan mineral claim number covering 5,961 hectares located in Northern Saskatchewan, Canada, on the southern end of the Athabasca region.

Under the agreement, Forty Pillars has agreed to pay to Oberon $10,000 in cash and to issue two million common shares of Forty Pillars on closing of the transaction. The shares will be subject to a four-month hold period in accordance with applicable securities laws. It is anticipated that Oberon will be an insider of Forty Pillars on closing of the transaction by reason of holding approximately 17.25 per cent of the issued and outstanding shares of Forty Pillars postclosing. Closing is subject to customary conditions of closing, including completion of due diligence by Forty Pillars and approval of the Canadian Securities Exchange (if required), and is expected to complete shortly.

Oberon also announces that Sandy Loutitt is resigning from his position as special adviser to Oberon to pursue other ventures. Oberon's management and board of directors thank Mr. Loutitt for his services to the company.

About Oberon Uranium Corp.

Oberon 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.