USEG - Uranium Power Corporation Message Board

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Gold/Mining/Energy : USEG - Uranium Power Corporation

USEG 1.160

-6.3%

Nov 3 3:59 PM EST

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To: jmhollen who started this subject	9/22/2003 12:35:22 PM
From: jmhollen	of 72

Uranium Power Corporation: Successful Tar Sands Test Results Reported VANCOUVER, BRITISH COLUMBIA--Uranium Power Corporation (OTC BB: URMP / DAX: URP) The Company has received analytical results from the August 30, 2003 pilot test of a bulk sample of Athabasca Tar Sands from Earth Energy Resources 500 ton per day plant located in Grande Prairie, Alberta. The analysis confirms that the Earth Energy catalytic technology successfully separated bitumen from Athabasca Tar Sands while upgrading the produced oil to a quality better than required by pipeline standards for transporting oil. The unprocessed Athabasca Tar Sand sample contained 13.13% bitumen by weight, which was approximately 7 degrees API gravity or therefore heavy oil / tar. The processed oil was upgraded to 19.9 degrees API or a medium gravity crude oil. On a dry basis, 96.1% (by weight) of the bitumen was recovered leaving only .59% bitumen remaining in the residual clean sand and, 3.3% of the bitumen remained within the catalyst slurry. The average temperature of the catalyst slurry throughout the system during the test was 29 degrees Celsius. A limited number of samples were taken during the August 30 test which processed approximately 2 tons tar sands. What is regarded as normal procedure, given the unique composition of Athabasca Tar Sands in comparison to tar sand deposits elsewhere, adjustments will now be made to the catalytic formula as well as the operation of the plant after reviewing the August 30 test results. The balance of the 11-ton sample located at the Grande Prairie facility will then be processed over the next several days. Uranium Power Corporation and Earth Energy Resources Inc now plan to move the 500-ton per day plant to Fort McMurray Alberta to conduct a larger test of approximately 2000 tons of Athabasca Tar Sands within 30 days which will then allow the company to complete a feasibility study for commercial application. The Company has filed its 10K documentation as of today's date and expects its Symbol to be reinstated as URMP as of Wednesday September 17. Doug Cannaday, as of September 15, is not longer the President of Uranium Power Corporation reflecting the Company's new business plan with Earth Energy Resources. Thornton Donaldson has agreed to become President and CEO on an interim basis. Please visit the Company's web site at www.apioil.net to view a 2-minute video of the August 30th test. The Company has an exclusive license agreement with Earth Energy Resources Inc. to commercialize the catalyst technology for Canada and Central and South America. FOR FURTHER INFORMATION PLEASE CONTACT: Uranium Power Corporation Steve McGuire (800) 877-1626 or (604) 606-7979 or Uranium Power Corporation Randal Pow (888) 858-7759 Email: investor@apioil.net Website: www.apioil.net .

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