Great Bear Uranium Discovers Significant Geophysical Anomalies on Wollaston South Project, Saskatchewan

May 27, 2008

Great Bear Uranium Corp. (the "Company" or "Great Bear") is pleased to announce that an airborne geophysical survey completed over its Wollaston South Project in northern Saskatchewan has identified six high-priority geophysical anomalies that require further investigation. Terraquest Ltd. completed the 4,664 line kilometer airborne magnetic, VLF, and radiometric survey and delivered the data to TerraNotes Ltd. for a detailed analysis and interpretation.

The Wollaston South Project consists of two Mineral Prospecting Permits totalling 82,635 hectares (~200,000 acres) located 300 kilometres north of the town of La Ronge, Saskatchewan. The permits are located within the eastern margins of the Wollaston basement domain, which underlies a number of significant uranium occurrences in the eastern part of the Athabasca Basin, Saskatchewan. These include some of the richest uranium deposits known worldwide, including: Key Lake, Millennium, McArthur River, Cigar Lake, Midwest Lake and Eagle Point. The McArthur River, Millennium and Eagle Point uranium deposits contain significant amounts of "basement-hosted" uranium mineralization; which is the primary exploration target for the project. At Wollaston South, large scale structures related to the regional "Tabbernor Fault System" cross north-south through the property. The airborne survey identified numerous structures cross-cutting the Tabbernor Fault System. The intersection of these structures, when coincident with radiometric anomalies, represent prime areas for potential uranium mineralization.

The six target locations (anomalies) identified on the property cover areas of intersecting structures and/or radiometric anomalies. Maps showing their locations have been uploaded to http://greatbearuranium.com/uranium/news/.

Integration of the newly obtained geophysical data with historic data is ongoing to further refine the areas of interest. A follow-up ground exploration program is being planned for the summer to investigate the high-priority exploration targets thus far identified. Priority areas, as outlined from the survey, will be prospected, sampled and mapped in detail in an effort to define drill targets.

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 Jody Dahrouge, P.Geol., of Dahrouge Geological Consulting Ltd., Edmonton, Alta, a qualified person.

ABOUT GREAT BEAR URANIUM

Great Bear Uranium Corp. is a well financed mineral exploration company focused on the strategic 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 news release may contain forward-looking statements.  Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties.  Actual results may differ materially from those currently anticipated in such statements.

 Maps - Wollaston South Geophysical Results