Global Uranium Corp. Announces Closing of Convertible Debenture Financing

The Company is pleased to announce that it has closed its previously announced non-brokered private placement financing of unsecured convertible debentures (the "Debentures") for aggregate gross proceeds of C$750,000 (the "Offering"). The Debentures bear interest at a rate of 10% per annum and mature 24 months from the date of issuance. The principal amount of the Debentures is convertible, at the option of the holder, into units of the Company (the "Units") at any time prior to maturity at a conversion price equal to the 5-day volume weighted average trading price of the Company's common shares at the time of conversion, subject to compliance with the policies of the Canadian Securities Exchange, including that the conversion price may not be less than $0.05 per Unit. Each Unit will consist of one common share of the Company and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one additional common share of the Company for a period of 24 months from the date of issuance of the Unit at an exercise price of $0.065 per share. The Company intends to use the proceeds of the Offering for working capital and general corporate purposes, including advancement of its uranium exploration projects. All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws. No finder's fees were paid in connection with the Offering.

Global Uranium Corp. focuses on exploring and developing uranium assets primarily in North America. The Company currently holds key uranium projects, including the Astro Project in the eastern Athabasca Basin of Saskatchewan, the Airline Project in Wyoming, and additional uranium exploration projects in Wyoming and Saskatchewan.