Bancroft Uranium Begins Implementation of N.I. 43-101 Engineering Report Recommendations at Monmouth Project -- New

SCOTTSDALE, AZ, Jul 31 (MARKET WIRE) --
Bancroft Uranium Inc. (OTCBB: BCFT) ("Bancroft" or the "Company") today
announces that the Company has begun planning to fully implement the
recommendations of the recently completed 43-101 compliant engineering
report.

Development planning for the Phase 2 2008 exploration and drilling
programs are now underway. This will focus on expanding the known
mineralization in the skarn rocks as well as an evaluation of the
radioactive pegmatite occurrences throughout the property. As
approximately 1/5th of the known strike length of the uranium bearing
rocks have been systematically explored, excellent potential exists for
extension and expansion of the resource. Bancroft engineers are preparing
the scope of work proposal and detailed budget for this work.

The Phase 2 surface drilling program is planned for immediate follow-up of
50 plus drill holes totaling approximately 10,000 to 15,000 feet. The
objective of this work is to verify mineralogical continuity and tenor as
well as expansion of the deposit. Fill-in holes will be added within the
limits of the 2008 program and additional holes added both along strike
and in both dip directions. This work will also include prospecting,
mapping and sampling in the remainder of the claim block. Additionally,
Bancroft is preparing a detailed budget to take a 50 to 100 ton bulk
sample for further metallurgical testing, verification of the tenor and
specific gravity of the mineralization.

In related news, Bancroft is pleased to announce the appointment of Mr.
Robert McIntosh as the President and CEO of the Company. Mr. McIntosh has
been acting as the Chief Geological Consultant on the Monmouth Project,
working with and advising field operations. Mr. McIntosh brings to
Bancroft 25 years of experience in the Mining Industry where he has
designed, implemented and executed exploration, drilling and production
mining operations in various commodities such as gold, base metals and
uranium. He has served as a Director and Officer of many publicly listed
companies in the United States and Canada.

Mr. McIntosh states, "I am pleased to assume the expanded role as
President of Bancroft Uranium and look forward to an exciting future for
both the Company and the Uranium sector. As nuclear power expands to
offset sky-high oil prices, Bancroft will be positioned to take advantage
of this opportunity at Monmouth and other projects. We would like to grow
Bancroft into a producer of U3O8 and feel that we have taken a great step
with the new compliant resource at Monmouth."

Mr. P. L. Hammond, C.A., remains as Director of Bancroft and will assume
the role of Chief Operating Officer as well as assist in financial matters
pertaining to the Company.

ABOUT BANCROFT URANIUM INC. (OTCBB: BCFT)

Bancroft Uranium Inc. is an exploration Company which intends to develop
Uranium assets in North America. Bancroft's initial asset, the Monmouth
Uranium Project is envisioned to have the potential of a low cost, open
pit uranium producer located close to infrastructure and end product
buyers.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is
defined in Section 27A of the United States Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Statements in this
press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such forward-looking
statements include, among other things, the development, costs and results
of our exploration program at our uranium properties and any anticipated
future production. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors include,
among others, the inherent uncertainties associated with mineral
exploration and development stage exploration companies. These
forward-looking statements are made as of the date of this news release,
and we assume no obligation to update the forward-looking statements, or
to update the reasons why actual results could differ from those
projected in the forward-looking statements. Although we believe that the
beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no assurance that such beliefs,
plans, expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should also
refer to the risk factors disclosure outlined in our annual report on
Form 10-KSB for the most recent fiscal year, our quarterly reports on
Form 10-QSB and other periodic reports filed from time-to-time with the
Securities and Exchange Commission.

ON BEHALF OF THE BOARD
Bancroft Uranium Inc.
------------------
Robert McIntosh
President and Chief Executive Officer

To find out more about Bancroft Uranium Inc. (OTCBB: BCFT), visit our
website at www.bancrofturanium.com.

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