Uravan Minerals Inc. (Uravan) has commenced diamond drilling operations on its Outer Ring (OR) project in the Pasfield Lake area of the Athabasca Basin. Drill hole OR11-001 is the first of a five (5) diamond drill-hole program totalling approximately 5000 meters of drilling [view map] . Drill depths to unconformity are estimated to be 850 meters. Completion of the drill program is estimated to be in early August 2011. The OR drill program is targeting selected surface geochemical signatures identified by Uravan’s technical group and collaborative research partners2 arising from a multifaceted surface sampling program completed over the property in 2010. This surface geochemical program capitalized on new innovative geochemical technologies developed from a pilot study conducted on the Cigar West uranium deposit (Cigar West Study) 1. By using these exploration techniques, verified from the Cigar West Study, positive isotopic compositions and associated anomalous pathfinder elements were identified in certain soil components, vegetation and tree-core samples over the project area. These surface anomalies correlate positively with regional geophysical survey trends and other interpreted structural features, and potentially represent signatures of mobile elements derived directly from bedrock sources of unconformity-related uranium mineralization. The Athabasca Basin is the most significant uranium district in Canada, representing 28% of the world’s primary uranium production. The interior of the Athabasca Basin, which includes the OR property, is under-explored relative to the high-grade unconformity-related uranium deposits currently being exploited near the eastern margin of the basin. The OR drill program will be the first significant exploration effort conducted in this more basin-ward region and even more significant considering the drilling is targeting surface geochemical anomalies versus conventional blind geophysical (EM) conductors. Mr. Larry Lahusen, CEO of Uravan believes, “The positioning of exploration drill-holes over surface geochemical signatures to test potential bedrock source of unconformity-related uranium mineralization is unique and could be an exploration ‘game changer’ with respect to how future uranium exploration is carried out in the Athabasca Basin”. The OR drill program will be managed and directed by Uravan’s technical group. Drilling operations are being performed by Bryson Drilling Ltd. from Archerwill, Saskatchewan. All whole-rock analytical work on core samples collected will be by multi-element ICP-MS for 52 elements plus all the REE and Pb isotopes at Acme Labs in Vancouver. The Queen’s Facility for Isotope Research2 (QFIR) will conduct further analytical techniques on core samples to determine the concentration of certain isotopic compositions using High-Resolution ICP-MS. Dr. Colin Dunn, P. Geo., technical advisor for Uravan, is the Qualified Person for the purposes of NI 43-101 with respect to the technical information in this press release. For further information please contact Larry Lahusen, CEO Uravan Minerals Inc. Tel: 403-264-2630 Email: llahusen@uravanminerals.com , Website: www.uravanminerals.com