Uranium 308 Corp acquires two Mongolian exploration licenses

Uranium 308 Corp. (OTC BB:URCO.OB)
will acquire two exploration licenses in Mongolia as a result of a nearly
completed acquisition.  

Uranium 308 announced Tuesday
that it had purchased Mongolia Energy Limited for $4.5 million and an
agreement to issue up to 25,000,000 common shares of its stock. 

Uranium 308 also has acquired
Tooroibandi Limited, a subsidiary of Mongolia Energy Limited. Tooroibandi’s
two exploration licenses will now be transferred to Uranium 308. 

In a statement released by
the company in Las Vegas, USA, Mongolia Energy Limited noted, “the
initial assessment report indicates that the area covered by the two
exploration licenses owned by Tooroibandi Limited has the potential
to be a commercially viable middle to large size uranium deposit.” 

The location of these sites
was not disclosed.

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