Plateau Uranium commences drilling on high-grade Pinocho area, Macusani, Peru / Proposes to Issue Shares to Settle Debt - Seite 3

A total of 96 channel samples were collected from the Pinocho adits with results ranging between a maximum of 4.37% U (5.15% U₃O₈) and a minimum of 15 ppm U (background) averaging 3836 ppm U (4524ppm U₃O₈). Lithium was not analyzed for in the ICP multi-element analytical package used in 2009, however, lithium will be included in all analytical results for the present drill campaign.

Sampling procedures, sample handling and lab preparation and analyses followed Company standard QA/QC procedures, including reference material, duplicate samples and blank material insertion.

Pinocho Drill Program

The planned 800-1000 m diamond drilling at Pinocho has started with an initial 5-8 drill holes planned. Company-owned diamond drill rigs have been mobilized to site and have started working, based out of the Company camp/offices in the Community of Isivilla. This initial program at Pinocho should be completed prior to the end of 2016, with any follow-up work occurring in 2017 pending successful results. Timing of follow up work will also be weather dependent. Drill results will be released as analytical data and information becomes available.

Chimboya Field Work

A program of radiometric scintillometer prospecting, sampling and mapping is being conducted in the Chimboya area in the north central region of the Macusani project. The Chimboya area surrounds the Company's Corachapi uranium deposit to the south, west and north. Several surface uranium anomalies have been identified on the ground and more detailed work continues to identify and prioritize targets for future drill testing.

Qualified Persons

Mr. Ted O'Connor, P.Geo., CEO and a Director of Plateau Uranium and a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About Plateau Uranium

Plateau Uranium Inc. is a Canadian uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 91,000 hectares (910 km²) situated near significant infrastructure. Plateau Uranium is listed on the TSX Venture Exchange under the symbol 'PLU' and the Frankfurt Exchange under the symbol 'QG1'. The Company has 51,750,974 shares issued and outstanding.