Delta Uranium Inc DLTUF

Delta Uranium Update

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Delta Uranium Update

Toronto, Ontario CANADA, November 28, 2012 /FSC/ - Delta Uranium Inc. (DUR.H - TSX Venture), ("Delta" or the "Company") announces that it has issued 500,000 common shares to Citabar Limited Partnership ("Citabar") at the minimum deemed value of $0.05 per share. The shares were due to be issued to Citabar pursuant to provisions in the option acquisition agreements of the Wawa mining property entered into by Delta in 2009 and which the rights to the property option was subsequently sold to another party in 2010. In order to obtain full releases from these agreements, the Company has agreed to accelerate the shares due to Citabar pursuant to an agreement entered into between Delta, Citabar and other parties. The entering into of the agreement was agreed to by the independent directors of Delta.

In addition, Delta has sold an additional 600,000 common shares of Augustine Ventures Inc. (CNSX:WAW) ("Augustine") at $0.115 US per share for proceeds of $68,393 Cdn. The transaction was effected by way of private sale and all parties to the transaction were at arm's length to both Delta and Augustine. The proceeds from the sale of the shares were used to pay down the amount due by Delta to Augustine under a secured promissory note dated June 20, 2012 (the "Note"). Delta has now paid all principal and interest amounts due to Augustine under the Note and the Company has been released of all obligations in connection therewith.


For additional information contact:
Wayne Isaacs, Chairman and CEO
Tel: [phone]
[e-mail]
www.deltauranium.com



Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release