VANCOUVER, B.C. - Magnum Uranium Corp. ("Magnum") is pleased to announce the commencement of drilling at its San Raphael Project in Emery County, Utah. Magnum is in the process of earning an 80% interest in this joint venture property from its partner, Energy Metals Corp. (see News Release dated December 5, 2006). In addition to possessing a significant database of historic drilling information, Magnum recently acquired information on an additional 260 holes, including drill hole logs, hole location maps, diagrams of underground workings and summary reports.

The San Raphael Project is located on the east flank of the San Rafael Swell, 15 miles west of Green River, Utah. The area was the site of mining and exploration for uranium and vanadium from the mid-1950's until the 1980's. The uranium mineralization in this district occurs in high-grade zones hosted within the Salt Wash Member of the Jurassic Morrison Formation. Historically, this district produced over 3.1 million pounds of uranium and 5.4 million pounds of vanadium.

The current drill program is expected to total 20,000 to 22,000 feet spread amongst 30 holes having a depth ranging from 500 to 800 feet. Bob Beeman Drilling Company of Moab, Utah is conducting the drilling, and down-hole logging will be performed by Jet West Geophysical Services, LLC, of Farmington, New Mexico. Magnum has received all required permits from the U.S. Bureau of Land Management and the Utah Division of Oil, Gas and Minerals to conduct these exploration activities.

The objective of this drill program is to test for additional high-grade uranium mineralization similar to past resources previously mined from the area by Atlas Uranium and others.

About Magnum
Magnum is a Vancouver-based minerals exploration company focused on the acquisition and development of uranium assets in North America. Currently, Magnum's primary property holdings are located in the Western United States, specifically Wyoming, Utah, Idaho, and New Mexico, and in Canada's Athabasca Basin.

ON BEHALF OF THE BOARD

"Craig T. Lindsay"
President & CEO

For additional information please contact:
Tel: 604.683.2507 Fax: 604.683.2506
E-Mail: info@magnumuranium.com

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This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.