ESO Uranium Corp. Closes Flow-Through Private Placement

Trading Symbol TSX-V - ESO
Frankfurt - E2G

VANCOUVER, Dec. 29, 2011 /CNW/ - ESO Uranium Corp. (TSX-V: ESO), (the "Company" or "ESO"), is pleased to announce that the Company has closed a flow-through financing which raised gross proceeds of $212,000. Specifically, ESO Uranium Corp. has issued 2,120,000 flow-through units ("Units") at a price of $0.10 per Unit. Each Unit consists of one flow-through common share and one warrant, where each warrant will entitle the holder to purchase one non-flow-through common share at a price of $0.15 for a period of 12 months. Certain finders were paid a fee in cash and options to acquire Units in connection with a portion of this offering. All securities issued under the offering are subject to a hold period expiring on April 30, 2012.

The gross proceeds from the sale of the Units shall be used to finance exploration on the company's properties in the Athabasca basin, Saskatchewan, including the Patterson Lake South property.

The Patterson Lake South property is a 50/50 joint venture held with Fission Energy Corp. The project covers 13,497 hectares (more than 30,000 acres) in 12 mineral claims on the southwest margin of the Athabasca basin in the Broach Lake -- Patterson Lake area. The Patterson Lake South property is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine (approximately 60 million pounds of uranium produced) and passes through the nearby UEX-Areva Shea Creek discoveries (approximately 100 million pounds of uranium in a combined indicated and inferred resource estimate from 2010) located 50 kilometres to the north, currently under continuing active exploration and development. The Patterson Lake South joint venture project is jointly operated by Fission Energy Corp. and ESO.

On behalf of the Board of Directors of ESO Uranium Corp.

"Anthony R. Harvey"  
Anthony R. Harvey, Director

THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.   NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADDEQUACT OR ACCURACY OF THIS RELEASE.

This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements".  These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the Patterson Lake Property. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.

United States residents are cautioned that some of the information that may be published by ESO Uranium Corp. may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.

For further information: