Northwestern announces completion of Niger Uranium's US$19 million private placement


    TORONTO, Aug. 1 /CNW/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT)
is pleased to announce the completion of the previously announced private
placement of shares of its joint venture company with UraMin, Niger Uranium
Limited, to raise gross proceeds of US$19 million, with Haywood Securities
(UK) Ltd. as agent. The proceeds of this private placement will be used to
fund the activities of Niger Uranium to advance eight uranium concessions in
Niger. Niger Uranium now has a treasury in excess of US$30 million.
    In the financing, Niger Uranium issued 19,090,000 shares at a price of
50 pence per share. Cash commission of 6% was paid on gross proceeds together
with 1,145,400 broker warrants, each entitling the holder to acquire shares of
Niger Uranium at a price of 50 pence for a period of two years.
    On closing, the private placees now hold a total of 23% of Niger Uranium
consisting of 19,090,000 shares. Northwestern maintains a 38.5% interest
consisting of 31,955,000 shares. UraMin (now part of Areva) is holding its
38.5% equity stake, which consists of 31,955,000 shares, in trust for
distribution to its shareholders as previously announced in a press release
issued by UraMin on June 15, 2007. Niger Uranium has issued a total of


    Northwestern Mineral Ventures ( is an
international resource exploration company with an experienced management
team. The company is focused on properties in Niger and Canada with potential
uranium targets. Northwestern also has a precious and base metal property in
Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol
"NWTMF" and the TSX Venture Exchange under the symbol "NWT."

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.

    This release is not an offer to sell nor a solicitation of an offer to
purchase any securities. The securities referred to in this release will not
be registered under the United States Securities Act of 1933, as amended, or
the laws of any state and may not be offered or sold in the United States
absent such registration or an applicable exemption from registration

    This news release includes certain "forward looking statements" within
the meaning of the United States Private Securities Litigation Reform Act of
1995. Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of either
Northwestern or UraMin are forward-looking statements that involve various
degrees of risk. The following are important factors that could cause the
actual results to differ materially from those expressed or implied by such
forward looking statements: changes in the worldwide price of mineral
commodities, general market conditions, risks inherent in mineral exploration,
risks associated with development, construction and mining operations, the
uncertainty of future profitability and the uncertainty of access to
additional capital.

For further information:

For further information: Northwestern Mineral Ventures: Marek J.
Kreczmer, M.Sc., P.Eng., President and CEO, (866) 437-9551,

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NWT Uranium Corp.

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