Great Bear Announces Drilling Results from Duddridge Lake Uranium Project, Saskatchewan

September 29, 2008

Great Bear Uranium Corp. ("Great Bear" or "the Company") (CNQ: GBR) and its partner Fission Energy Corp. ("Fission") are pleased to announce the results of the winter drilling program at their Duddridge Lake Uranium Project in northern Saskatchewan. Great Bear has an option to earn up to a 60% interest in the project with Fission acting as operator.

The Duddridge Lake Project comprises eleven claims totalling approximately 36,300 hectares and is located about 80 kilometers northwest of La Ronge, Saskatchewan. The property is situated along the eastern margins of the Wollaston Basement Domain, which is host to a number of significant uranium occurrences situated beneath the eastern part of the Athabasca Basin, Saskatchewan, including the 40+ million pound Millennium Deposit discovered by Cameco Corporation.

Historic drilling at the Duddridge Lake Property outlined a uranium deposit with a strike length of 1,140 meters at an orientation of 30° and a dip of 60° to the NW. A National Instrument 43-101 compliant resource calculation for the Duddridge Lake uranium deposit identified an inferred mineral resource (Fraser, 2007) totalling 227,880 tonnes at an average grade of 0.10% U₃O₈ (~487,000 pounds).

Five holes totalling 560 meters were successfully completed during the winter program. A sixth hole (DD08-002) was forced to be abandoned at the 94.3 m mark due to stuck rods. All holes were drilled at an azimuth of 120° at various angles and downhole probed for radioactivity with a Mount Sopris 2PGA-1000 poly-gamma downhole probe (with the exception of hole DD08-005 which was not probed due to technical problems). Drill core was split and sent to SRC Analytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) for analysis including a 63 element ICP-OES with uranium by fluorimetry (partial digestion) and boron.

Mineralized intervals are defined from geochemical assays of uranium (partial) and have been composited based on the following criteria; cut-off value of 400 ppm uranium (partial), minimum downhole width of 1.0 m, with a maximum internal dilution of 1.0 m. Table 1 summarizes the composited intervals for the five holes.

Table 1: Composited Intervals of Holes DD08-001 to 005

*Hole re-collared at the same location as DD08-002

Hole DD08-001 was collared near the north end of the deposit within several meters of historic collar D-8-75 (historic mineralization reported as 0.13% U₃O₈ / 9.0m), hitting the zone at the 50m level. The hole intersected anomalous radioactivity over a 17.3m interval from 44.3m to 61.7m, with peaks up to 20,102 cps. A 4.5m wide mineralized zone grading 0.08% U₃O₈ was intersected from 51.0 to 55.5m.

Hole DD08-002a, also collared near the north end of the deposit. The hole was designed to test for the extension of mineralization below the 100m level, which is deeper than historically drilled. Two anomalous intervals of weak radioactivity were encountered; a 2.5m interval from 103.8m to 106.3m with peaks up to 1,433 cps and a 1.7m interval from 144.0m to 145.7m with peaks to 1,733 cps. Assay results from these two intervals show elevated uranium (63 ppm and 57 ppm respectively). The intersection of mineralization at depth further highlights the potential for extending the resource below the current defined deposit.

Hole DD08-003 was collared in the central part of the deposit intersecting anomalous radioactivity over a 13.5m interval from 28.1m to 41.6m, with peaks up to 8,216 cps. A mineralized interval of 0.05% U₃O₈ over 1.5m was intersected from 37.5 to 39.0m. Results were similar to historic drill collars located in the area. The hole was collared midway between historic hole D-24-75 (0.05% U₃O₈ / 1.34m) drilled 70m to the north and historic hole D-25-75 (0.10% U₃O₈ / 1.28m) drilled 70m to the south.

Hole DD08-004 was collared over the south-central part of the deposit. A 13.8m wide interval of strongly anomalous radioactivity was intersected from 51.7m to 65.5m, with peaks up to 30,036 cps. Historic hole D-5-75, located approximately 70m to the north, intersected 0.06% U₃O₈ over 3.2m and historic hole D-26-75, located approximately 60m to the south, intersected 0.05% U₃O₈ over 2.2m. DD08-004 significantly increased the grade and width of mineralization over this part of the deposit returning 0.07% U₃O₈ over 11.5m,from 54.0 to 65.5m, including a higher grade interval of 0.15% U₃O₈ over 2.0m.

Hole DD08-005 was collared in the south part of the deposit. The hole targeted mineralization at the 40m level approximately 100m south of DD08-004. Historic hole D-26-75 (0.05% U₃O₈ / 2.2m) is located about 50m to the north and historic hole D-27-75 (0.07% U₃O₈ / 5.6m) is located about 40m to the south. Due to technical problems a downhole probe was not run on this hole. Assay results returned 0.06% U₃O₈ over 2.5m from 51.5 to 54.0m.

Current geological interpretation indicates a continuous envelope of lower grade uranium mineralization over the entire strike length of the deposit, with a shallow plunge to the north. Within this lower grade horizon, well developed pods of continuous higher grade mineralization occur. Mineralization remains untested and open to the north and the intersection of mineralization in DD08-003 below the 100m level indicates potential for extending the mineralization at depth. A 3-D model of the deposit will be created, which will aide in the understanding of the smaller scale controls of the mineralization.

The shallow nature of the current Duddridge Lake mineralization and confirmation of historic drilling results continue to establish a significant deposit that is potentially amenable to relatively in-expensive open pit mining techniques. Further drilling will continue to expand the current resource via infill drilling as well as testing the deposits extensions to the north and at depth.

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43- 101 and reviewed on behalf of the company by Ross McElroy, P.Geol. and Vice-President of Exploration for Fission Energy Corp., a qualified person.

ABOUT GREAT BEAR URANIUM

Great Bear Uranium Corp. is a Canadian based mineral exploration company focused on the acquisition, exploration, and development of uranium properties. The Company has assembled a strong portfolio of projects in some of Canada's foremost uranium producing and exploration regions - the Athabasca Basin, Thelon Basin, and Uranium City Mining District - and is well positioned to discover new sources of supply. While exploring these properties management will continue to target the acquisition of additional uranium interests that are value-creating. Great Bear's shares are listed on the CNQ exchange under the symbol "GBR".

This press release contains "forward-looking information" that is based on Great Bear's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Great Bear's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Great Bear's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Great Bear disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

 Map - Duddridge Lake Deposit - Longitudinal Section Showing Uranium Mineralization (%U₃O₈)