NWT Uranium Corp. Provides Update

TORONTO, ONTARIO--(Marketwired - Dec. 7, 2014) - NWT Uranium Corp. (the "Corporation") (TSX VENTURE:NWT) (FRANKFURT:NMV) would like to provide an update with respect to its ongoing discussions with the TSX Venture Exchange (the "Exchange").

As reported in its previous press releases, the Corporation has been advised by the Exchange that the Corporation has been deemed to have undertaken a change of business from a mining issuer to an investment issuer without receiving the prior approval of the Exchange. As a result of this contravention of Exchange Requirements, the Compliance and Disclosure department of the Exchange has commenced a review to determine the involvement of certain of the Officers and Directors of the Company in this event. Until such time as the Exchange has completed its review, the trading suspension on the Company's shares will remain in effect. Upon completion of the review, the Corporation will disseminate a comprehensive news release outlining the findings of the Exchange and the steps taken by the Corporation to ensure compliance with Exchange Requirements on a go-forward basis. Until such time as the Exchange's review is completed, the Exchange will not review the Company's proposed Change of Business. Once approved by the Exchange, the Corporation will proceed with the process of obtaining shareholder approval for the Change of Business and will be preparing an information circular in connection with obtaining such shareholder approval, such circular to be reviewed and approved by the Exchange prior to it being mailed to the shareholders.

Financial Update

As reported in the Corporation's unaudited financial statements for three (3) months ended June 30, 2014, the Corporation currently has approximately $3.9 million in cash and cash equivalents with approximately $7.2 million in total assets (of which approximately $5.1 million is current assets) and an aggregate of approximately $3.8 million in total liabilities of which all are current liabilities.

Of the $3.9 million in cash and cash equivalents, $827,378 is held in three (3) separate fixed term deposits of 6, 9 and 12 months with the Bank of Cyprus. The Bank of Cyprus has the option to renew each of the fixed term deposits once for the same duration of the original deposit. The Bank of Cyprus exercised such option with respect to one of the term deposits (which was placed in a one-month rollover account). The Corporation expects that the Bank of Cyprus will exercise its option with respect to the remaining two (2) term deposits. As a result of the fact that the Corporation will not be able to access the funds on deposit in the Bank of Cyprus the Corporation set up an allowance of $370,949