Drilling Report

Niger Uranium Limited
17 April 2008


For immediate release


                                                                   17 April 2008


                             Niger Uranium Limited


                       ('Niger Uranium' or 'the Company')


                                Drilling Update


         Further positive results from the In Gall license area, Niger

Niger Uranium, the uranium focused exploration and investment company with
interests in Niger and Namibia, is pleased to announce its initial downhole
radiometric logging results for the drilling programme on the Company's 100%
owned In Gall license in Niger.


Highlights


   •Drilling at Niger Uranium's In Gall license, at target 17 has delineated
    a near surface uranium-mineralized layer with dimensions of 5,000 metres by
    900 metres and open to the west.


   •Radiometric probe data shows the layer has an average thickness of 1.2
    metres and a grade of 122 ppm eU3O8 based upon data from 32 boreholes
    drilled on a 250 by 400 metres grid.


   •The probe data shows that grade and thickness is very consistent; the 32
    intersections ranged from 63 ppm eU3O8 over 0.7 metres to 177 ppm eU3O8 over
    1.8 metres. Results of XRF analysis on samples collected from the same
    boreholes indicate higher grades, up to 238 ppm U3O8 over 2.0 metres.


   •The layer is gently dipping and exposed at surface and historical data
    suggests this zone extends over 15 kilometers to the west of the area
    drilled to date, highlighting the potential for a considerable open-pittable
    resource.


   •At other target areas within the Company's In Gall and Irhazer Licenses,
    a survey comprising 1,500 radon detectors will be completed by Stratamodel
    of the USA. Results from this survey are expected to delineate 'concealed'
    uranium deposits that may be present along major structures. In the interim,
    step-out drilling will commence at target 10 where an earlier lone
    scout-drilling borehole highlighted an intersection of 9.2 metres grading
    105 ppm eU3O8.


Ian Stalker, Deputy Chairman, said:


'The identification of such a large mineralized area at this early stage in our
drill programme is an exciting result. Our objective is the identification of an
economically viable uranium resource in Niger and we look forward to informing
shareholders regarding the ongoing work programme as soon as results are made
available.'


A 10,000 metre drilling programme commenced in January 2008 and to date 4,100
metres have been completed. Drilling has focused on target 17 where a
mineralized layer 900 metres wide, with a minimum strike length of 5,000 metres
and potential for significant extension in a westerly direction, has been
identified. Niger Uranium plans to complete several step-out fence lines to
extend the currently delineated mineralized area.


At target 17, the uranium is hosted in proximity to the contact between oxidized
sandstones of the Tegama Formation and reducing mudstones of the Irhazer
Formation, within the Tim Mersoi Basin. The proximity to surface, continuity of
the mineralization and gentle dip (between 2 and 5 degrees to the southwest)
support in-situ leaching or open-pit mining as a potential extraction technique.
Visual observation of material exposed in trenches suggests that carnotite is
the dominant uranium mineral occurring as growths and coatings on fracture
surfaces.


Drilling is being carried out by Esafor Drilling under the supervision of MSA
Geo Services of South Africa. All boreholes are vertical and drilled by the
tri-cone method and probed using a Robertson Geologging gamma tool, calibrated
by Terratec Geoservices in Germany to provide equivalent uranium grades
expressed as eU3O8. To support the probe data, borehole samples were sent to SGS
Lakefield for XRF analysis for U3O8. The XRF results are contained in appendix
2. Samples were all one metre in length and taken at mineralized intervals as
indicated by the probe data. The XRF U3O8 grades are significantly higher than
those obtained from radiometric probing for the same intervals. This is most
likely to be a result of positive disequilibrium which results in the
underestimation of grade if determined by radiometric probing. If this is
verified by additional drilling and sampling, a significant increase of grades
reported in appendix 1 can be expected.


To advance the other targets within the In Gall and Irhazer Licenses, the
company will commence drilling late in April 2008 to follow up on surface grab
samples which returned up to 0.98 % U3O8, as reported on 29 January 2008. At
target 10, a ground magnetic survey was completed to assist with the positioning
of 4 step-out holes along strike and down dip of AB003 which intersected 9.2
metres grading 105 ppm eU3O8 from 190.9 metres depth, as indicated by
radiometric probing. At other targets a survey using 1500 CR39 radon detectors
will help define drill targets along major structures identified from satellite
and airborne radiometric data. The CR39 film detects radon emanating from
concealed uranium mineralization.



Appendix 1


Results for all boreholes within the mineralized area at target 17 as determined
by radiometric probing.

BHID             From (m)  To (m)      Thickness (m)          eU3O8 (ppm)
H17-22A             31.8        32.9                    1.0                113
H17-25A             25.0        26.4                    1.4                111
H17-25B             43.7        44.8                    1.2                119
H17-27A             33.3        34.4                    1.1                151
H17-27B             51.6        52.8                    1.2                108
H17-30A             27.1        28.2                    1.2                128
H17-30B             29.7        30.7                    0.9                134
H17-32B             28.7        29.5                    0.8                139
H17-35B             23.7        24.5                    0.8                124
H17-37E             39.8        41.2                    1.3                 83
H17-40H             33.9        35.0                    1.1                106
H17-42E             52.9        54.3                    1.4                134
H17-42G             46.0        47.9                    1.9                 96
H17-45G             62.3        63.3                    1.0                148
H17-47E             75.9        76.8                    0.9                125
H17-50C             71.8        73.1                    1.3                100
H17-50G             49.9        51.3                    1.4                143
H17-52C             66.3        67.5                    1.1                134
H17-52G             72.8        73.8                    1.0                153
H17-55B             58.0        59.4                    1.4                122
H17-55C             59.6        60.8                    1.1                123
H17-55E             57.8        59.1                    1.3                139
H17-55G             50.2        51.3                    1.1                156
H17-57C             48.9        50.0                    1.1                102
H17-57D/E           47.8        49.6                    1.8                177
H17-57F             52.5        53.4                    0.9                139
H17-60B             40.7        41.7                    1.0                142
H17-60C             46.0        46.7                    0.7                 63
H17-60D             43.6        45.3                    1.8                 70
H17-60F             51.5        52.1                    0.7                 99
H17-95A             31.9        33.4                    1.5                119
H17-97A             33.8        34.8                    1.0                116
Arithmetic Mean        -           -                    1.2                122


Appendix 2


XRF results for all boreholes within the mineralized area at target 17

  HOLE_ID   From (m)     To (m)        thickness (m)     XRF U3O8 (ppm)
 H17/27/A     34.00        36.00                  2.00                     167
 H17/32/B     29.00        30.00                  1.00                     130
 H17/35/B     24.00        25.00                  1.00                      65
 H17/42/E     54.00        55.00                  1.00                      57
 H17/42/G     47.00        48.00                  1.00                     223
 H17/45/G     62.00        64.00                  2.00                     116
 H17/47/E     76.00        77.00                  1.00                     177
 H17/50/G     50.00        51.00                  1.00                     240
 H17/52/I     49.00        51.00                  2.00                     200
 H17/55/B     59.00        60.00                  1.00                     130
 H17/55/C     60.00        61.00                  1.00                      82
 H17/55/E     59.00        60.00                  1.00                     164
H17/57/D/E    49.00        51.00                  2.00                     239
 H17/60/B     40.00        42.00                  2.00                     174
 H17/60/C     47.00        48.00                  1.00                     131



Appendix 3

Collar locations of all boreholes within the mineralized area at target 17.

BHID       UTM East (m)   UTM North (m)        Length (m)      Inclination
 H17-22A        287,507            1,854,176              40                90
 H17-25A        287,316            1,854,315              42                90
 H17-25B        287,185            1,854,155              51                90
 H17-27A        286,981            1,854,283              42                90
 H17-27B        286,871            1,854,146              60                90
 H17-30A        286,728            1,854,391              36                90
 H17-30B        286,672            1,854,317              36                90
 H17-32B        286,383            1,854,334              33                90
 H17-35B        286,157            1,854,467              36                90
 H17-37E         285583              1854182              48                90
 H17-40H         284880              1853577              48                90
 H17-42E         284942              1854212              66                90
 H17-42G         284694              1853912              60                90
 H17-45G         284388              1853908              72                90
 H17-47E         284435              1854375              84                90
 H17-50C         284270              1854538              84                90
 H17-50G         283727              1853921              60                90
 H17-52C         284061              1854708              80                90
 H17-52G         283534              1854098              87                90
 H17-55B        283,731            1,854,711              66                90
 H17-55C        283,600            1,854,557              64                90
 H17-55E        283,347            1,854,252              70                90
 H17-55G         283086              1853943              60                90
 H17-57C        283,411            1,854,718              54                90
H17-57D/E        283155              1854412              57                90
 H17-57F         282893              1854105              63                90
 H17-60B        283,226            1,854,878              48                90
 H17-60C        283,091            1,854,722              57                90
 H17-60D         282958              1854572              60                90
 H17-60F         282707              1854265              60                90
 H17-95A         278700              1854944              45                90
 H17-97A         278549              1855144              48                90



GLOSSARY

uranium  Uranium is a silver grey moderately radioactive metallic element that
         has the symbol U and an atomic weight of
In-situ  In-situ leaching (ISL) or solution mining is a process of recovering
leaching minerals such as copper and uranium through boreholes drilled into the
(ISL)    deposit. Explosive or hydraulic fracturing may be used to create open
         pathways in the deposit for a solution to penetrate. Leaching solution
         is pumped into the deposit where it makes contact with the ore. The
         solution bearing the dissolved ore content is then pumped to the
         surface and processed.
Tri-cone A rapid, relatively cost effective technique of drilling boreholes for
drilling uranium exploration by gamma ray probe. The tri-cone drill (or roller)
         bit, consists of three cone shaped toothed rollers in a cluster. Each
         of the cones has hard teeth mounted on bearings. The spatial control of
         sampling for laboratory purposes is not good with tri-cone drilling and
         alternative drilling techniques would have to be used.
CR39     Is a technique of soil survey to measure or detect buried uranium
radon    mineralization in certain geological environments.
survey
U3O8     The uranium content of a sample is reported as U3O8 if the analysis is
         performed in a laboratory. Uranium content when measured by a gamma ray
         down hole probe is reported as eU3O8.
eU3O8
XRF      X-ray Fluorescence Analysis is a sophisticated laboratory technique for
         the analysis of uranium and other elements
BHID     Abbreviation for borehole identification number.
UTM      Abbreviation for Universal Transverse Mercator which is a grid-based
         coordinate system method of specifying locations on the surface of the
         Earth.
Borehole The surveyed starting point of a borehole at the earth's surface
Collar
ppm      Abbreviation for parts per million. 1000 parts per million are
         equivalent to 0.1%


Qualified Person

The information contained in this announcement has been reviewed by Keith Kenyon
(MSc. AUS IMM), Geochemical Consultant to Niger Uranium. He is the Qualified
Person overseeing the geochemical exploration on the In Gall-Irhazer licences.
Mr. Kenyon has 36 years experience in gold, base metals and uranium exploration
and geochemistry.


The chemical analyses were undertaken by SGS Minerals, Southern Africa; 58
Melvill Street, Booysens, Johannesburg, 2091, Tel.  [phone]. This is
a properly equipped, fully accredited laboratory undertaking analyses and assays
for the mining industry.


Contacts:

Niger Uranium Limited                           Tel: + 27 11 269-4900
Ian Stalker, Executive Deputy Chairman
Beaumont Cornish Limited                        Tel: + 44 (0) 20 7628 3396
Michael Cornish
Financial Dynamics                              Tel + (0) 20 7831 3113
Ben Brewerton



Forward-Looking Statements:


This press release contains statements that are 'forward-looking'. Generally,
the words 'expect,' 'intend,' 'estimate,' 'will' and similar expressions
identify forward-looking statements. By their very nature, forward-looking
statements are subject to known and unknown risks and uncertainties that may
cause our actual results, performance or achievements, or that of our industry,
to differ materially from those expressed or implied in any of our
forward-looking statements. Statements in this press release regarding the
Company's business or proposed business, which are not historical facts, are
'forward looking' statements that involve risks and uncertainties, such as
estimates and statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management expects a
stated condition or result to occur. Since forward-looking statements address
future events and conditions, by their very nature, they involve inherent risks
and uncertainties. Actual results in each case could differ materially from
those currently anticipated in such statements.


Investors are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date they are made.




                      This information is provided by RNS
            The company news service from the London Stock Exchange