Cash Minerals Ltd. (TSX VENTURE: CHX) today announced that a definitive joint venture agreement has been signed with Cornerstone Capital Resources Inc. (TSX VENTURE: CGP) on the Aillik uranium property, located in the Central Mineral Belt, Labrador. Cornerstone staked the property in November 2006 and in January 2007 signed a Letter of Intent with Cash minerals to enter into the joint venture agreement.

The Central Mineral Belt is a major focus for uranium exploration in Canada. The largest and most advanced projects currently in the belt are those held by Aurora Energy Resources, who recently announced new resource estimates of 58 million pounds of U308 ("uranium") Measured and Indicated and 38 million pounds of uranium Inferred at their Michelin and Jacques Lake deposits (http://www.aurora-energy.ca).

The 40.5 sq km (162 claims) Aillik property adjoins Aurora Energy Resources' holdings. The property is underlain by rocks interpreted by the Geological Survey of Newfoundland & Labrador to be the same as or similar to those which host the Michelin and Jacques Lake deposits. The Aillik claims are immediately west of and on trend from Aurora's Otter Lake uranium system and its associated radiometric anomaly. The 2007 exploration program at Aillik will start with an extensive airborne geophysical survey of the property, scheduled to begin in the third quarter 2007.

The Pakistan Atomic Energy Commission (PAEC) has discovered around 1,000 uranium favorable rock sites.

Dawn newspaper reports that nine sites among the 144 potential uranium ore deposits had been identified as very promising,

Mineral sector establishments of the PAEC have been mandated to prospecting and exploration of strategic minerals for which various techniques are being employed to discover uranium deposits.

The uranium spot price surged to a new record of US$113 per pound as buyers aggressively bid for a lot of uranium at a recent bell-weather auction in Corpus Christi, Texas.

The modest-sized lot of 100,000 pounds was offered by Texas-based Mestena Uranium LLC, a small privately owned firm, while the aggressive bids came from both utilities and investors. The company's auctions are closely watched in the industry because they've resulted in strong price increases in the past, including a previous auction in late 2006.

According to a report by The Northern Miner, senior executives at Mestena were "surprised" at the range of bidders participating in recent auctions, which include hedge funds looking to buy in anticipation of future price increases, as well as various utilities.

At the time of the auction (the deadline for the sealed bids was April 3rd) spot prices had reached US$95 per pound, up from US$75 per pound in February. The record spot price set at the April auction is a mere US$2 shy of the all-time high in inflation-adjusted dollars. The long-term uranium price remains unchanged at about US$85 per pound.

Industry analysts had predicted that spot prices might surpass the US$100-level this year because of supply shortfalls and rising demand as government agencies and utility companies seek "green" long-term energy solutions. On the supply side, flooding at Cameco's Cigar Lake mine in Saskatchewan and the long lead-times to construct new mines also contribute to the bullish outlook for uranium.
U3O8 Media Inc.'s Website www.u3o8.biz delivers original market analysis, breaking news, and insightful editorial on the economic, political, and environmental issues fueling the reemerging uranium industry. U3O8.biz also provides valuable market and company research, as well as a listing of leading public mining and exploration companies at the forefront of the uranium business.

Resource Capital Management has raised it's spot price forecast for uranium to $125 in 2007 and $140 by September 2008.

The group's latest report on the global uranium boom says "forward indicators continue to strengthen . . . with 48 new nuclear-power reactors currently expected to be commissioned globally by 2013".

Uranium spot price is now 45 per cent higher than three months ago and 78 per cent higher than its level of $US53.25 a pound six months ago.

The Uranium Focused Energy Fund will concentrate on the securities of uranium miners and others in the sector, “supplemented with the securities of other energy-related issuers,” says fund promoter Middlefield Group.

The $195-million initial public offering will be listed on the Toronto Stock Exchange.

“In light of the significant capital and time requirements associated with the development of new uranium mines, the adviser expects uranium prices to remain strong over the life of the fund, which will terminate on Dec. 31, 2013,” Middlefield said Tuesday.

Russia, the world's biggest oil and natural gas producer, will boost atomic power output and increase uranium reserves by a quarter as electricity demand grows faster than generation, threatening to curb a nine-year economic boom.

„The need to diversify our fuel-energy balance is obvious,” Deputy Prime Minister Sergei Ivanov said today in Moscow. „In the foreseeable future, Russia will take third place in the world in terms of uranium resources, which will be about 1 million tons.” Russia plans to spend 674 billion rubles ($26 billion) in the next eight years to develop its nuclear industry, he said. The former Soviet state now has about 800,000 tons of uranium resources, lagging behind Australia and its 1.14 million tons and Kazakhstan, which has 1.13 million tons.

Russia is turning to atomic energy amid concerns about the nation's capacity to meet export commitments for oil and gas. Concern about pollution and the potential scarcity of oil and gas is spurring international demand for nuclear power. Cameco Corp., the world's biggest nuclear power producer, agreed this month with Russia's state-owned nuclear trader to become the first foreign miner to explore for uranium in the country after prices of the radioactive metal soared. The spot price for uranium, from which fuel for nuclear power plants is made, advanced to $85 a pound earlier this month, 18% higher than at the start of the year, according to industry publication Metal Bulletin. The price has surged in part on speculation by investors that there may not be enough of the metal to fuel the next generation of nuclear reactors.

Russia is now planning to get 30% of its energy from nuclear power by 2030, almost double the current proportion. The country's nuclear industry gets a third of its revenue from exporting nuclear fuel services, which includes enrichment of uranium and construction of power plants. Building power plants abroad allows Russia „to gain global influence and authority,” as well as bringing in cash, Ivanov said. Russia will soon register OAO Atomenergoprom, a holding company that will to take charge of all of Russia's civilian nuclear industry, Ivanov said today. All of Atomenergoprom's shares will belong to the government and all its transactions will be subject to presidential decree, he said.

Uranium Quick Facts.......Supply & Demand

There are approximately 435 nuclear reactors operating in 30 countries. These reactors (including 103 in the United States) consume about 180 million pounds of uranium a year........ current worldwide production of uranium is about 100 million pounds.

The International Atomic Energy Agency expects another 30 nuclear reactors to be built in the next 15 years.