Bearclaw Announces Letter of Intent to Acquire Prospective Uranium Properties in Quebec

    VANCOUVER, April 12 /CNW/ - Bearclaw Capital Corp, a company listed on
the TSX Venture Exchange under the symbol "BRL", is pleased to announce that
it has entered into a non-binding letter of intent to acquire a 100% interest
in six prospective uranium properties, comprising 358 claims, in the Wakeham
basin on the St. Lawrence Lower North Shore in Quebec. The properties are
known as Riviere Romaine (102 claims), Lac Buit (63 claims), Hayman
(74 claims), Lac Boucher (71 claims), Lac Cimon (38 claims) and Sheet 12 L 06
(10 claims).
    The properties are owned by Minorex Spécialistes Miniers Inc., Sugarhill
Capital Inc. and Dresden Capital Inc., all of which are based in Quebec, and
Kin Communications Incorporated, which is based in Vancouver. Bearclaw and the
vendors are acting at arms length, and none of the vendors will become
insiders or control persons of Bearclaw as a result of the transaction.
    Bearclaw will pay the vendors a total of $350,000 and will issue a total
of 2,000,000 common shares to the vendors for the properties. In addition,
Bearclaw will grant Minorex, Sugarhill and Dresden a 3% royalty, payable upon
the beginning of commercial exploitation of any uranium deposits on the
properties, and a 2% net smelter return, payable upon the beginning of
commercial exploitation of any mineral deposits other than uranium on the
    Closing of the acquisition is subject to a number of conditions,
including the concurrent closing of a $1,500,000 private placement by Bearclaw
at a price of $0.35 per common share, or such other price as the parties may
agree. Bearclaw intends to use a portion of the proceeds of the private
placement to make the $350,000 payment for the properties. The proposed
acquisition is also subject to the completion of satisfactory due diligence
inquiries by both sides and the execution of a binding asset purchase
agreement. Completion of the proposed transaction is subject to Exchange
approval. There can be no assurance that the transaction will take place as
proposed, or at all. A finder's fee is payable in accordance with Exchange
policies upon the closing of the acquisition.
    The vendors have advised Bearclaw that a report on the properties that
meets the requirements of National Instrument 43-101 is being prepared, and
that they expect that the report will be available by the end of April.

    This news release may contain forward-looking statements. Known and
unknown risks and uncertainties may cause actual events or results to
materially differ from those expressed or implied by any such forward-looking

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.
    %SEDAR: 00013834E

For further information:

For further information: Bearclaw Capital Corp., John B. Ross,
President, 6150 Glendalough Place, Vancouver, B.C. at (604) 263-5147

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