Vanadian Energy Corp. (URCFF)

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URACAN RESOURCES LTD. ENCOUNTERS SIGNIFICANT URANIUM
MINERALIZATION AT PIPEWRENCH LAKE PROPERTY, STAKES
ADDITIONAL CLAIMS IN SASKATCHEWAN


January 19, 2007

Trading Symbol: (TSXV): URC

VANCOUVER, BC – Uracan Resources Ltd. (the “Company”) is pleased to announce that it has received results of surface sampling from the Pipewrench Lake and Narrows Lake properties in Saskatchewan. In addition, the Company has staked additional ground surrounding the existing claims. A total of 100 Km2 has been staked, with the Company holding a 100% interest in these properties. The claims now form one contiguous group of claims.

A total of 78 samples were collected during a limited field program in late September and early October. These samples were collected as part of a reconnaissance program to investigate the potential of the property and validate historic mineralized occurrences.

Five historic uranium occurrences were sampled, of which only two received any significant amount of work in the past. Results of up to 0.281% (6.19 lbs) U3O8 in grab samples and 0.086% (1.89 lbs) U3O8 over 1.7 meters in chip sampling were encountered on the property and were distributed throughout the five occurrences which were sampled. A listing of significant samples are included in the table below.

Mineralization on the property is hosted by pegmatites, coarse grained granites, garnetiferous biotite schist and smokey grey quartz veins. Many of the surface occurrences have significant uranium alteration minerals (uranophane) associated with them.

These results are very encouraging as they confirm that significant mineralization exists on the property, including mineralization outside areas of historic drilling. A total of five uranium occurrences were sampled. These include the Pipewrench Lake, Pipewrench North, Narrows Lake, Portage and Cross Lake West occurrences. Three of the five occurrences have seen minimal work in the past and offer excellent exploration targets. A map outlining the property and the locations of the uranium occurrences will be available shortly on the Company’s website, www.uracan.ca.

Two of the five occurrences (Pipewrench North and Narrows Lake occurrences) have had limited historic diamond drilling carried out on them. This drilling encountered significant uranium mineralization over significant widths. Please refer to the Company’s news release dated September 25th, 2006 for further information. Additional uranium anomalies exist on the property which were not sampled during the limited fall 2006 reconnaissance program.

Planning for a summer exploration program is underway to follow up the results of the fall 2006 program. This work will investigate the geological, structural and mineralogical setting of the mineralization, as well as determine the exploration potential of the property. Prospecting, geological and structural mapping, rock and soil sampling, airborne and ground geophysics including radiometrics are among the planned activities. Diamond drilling is planned to follow up targets outlined by the summer program.

All samples were submitted to the Saskatchewan Research Council Laboratories in Saskatoon, Saskatchewan for analysis. Marc Simpson, P. Geo, a consultant to the Company is the Qualified Person and has reviewed this report.



For further information please contact



Investor Relations, Vanguard Shareholder Solutions Inc.
Tel: [phone] or 1-866-898-0824
Email: [e-mail]


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The foregoing information may contain forward-looking statements relating to the future performance of Uracan Resources Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company’s filings with the appropriate securities commissions.



Table 1. Selected Grab and Chip Results, Pipewrench Lake Property Location UTM E UTM N Sample Description U3O8 % U3O8 lbs
Pipewrench Lake grab 0.036 0.80
Pipewrench Lake 449113 6239045 grab 0.014 0.31
Pipewrench Lake 449112 6239060 grab 0.010 0.22
Pipewrench Lake 449112 6239060 grab 0.073 1.60
Pipewrench Lake 449112 6239060 1.75 m chip 0.012 0.25
Narrows Lake 450369 6250186 grab 0.034 0.75
Narrows Lake 450387 6250149 grab 0.027 0.60
Portage 450065 6249486 1.7 m chip 0.086 1.89
Portage 450067 6249492 grab 0.281 6.19
Portage 450071 6240501 0.75 m chip 0.073 1.62
Portage 450072 6249500 grab 0.013 0.29
Portage 450074 6249502 0.8 m chip 0.021 0.47
Cross Lake West 449620 6248338 grab 0.011 0.24
Cross Lake West 449619 6248354 grab 0.021 0.47
Cross Lake West 449617 6248358 grab 0.029 0.65
Cross Lake West 449616 6248358 1 m chip 0.048 1.07
Cross Lake West 449617 6248355 grab 0.038 0.84
Cross Lake West 449549 6248295 grab 0.043 0.95
Pipewrench North 449371 6240546 grab 0.026 0.57
Pipewrench North 449387 6240546 1.1 m chip 0.017 0.38
Pipewrench North 449388 6240546 0.8m chip 0.015 0.32
Pipewrench North 449389 6240547 1.2 m chip 0.050 1.11
Pipewrench North 449390 6240548 0.25m chip 0.186 4.11
Pipewrench North 449389 6240547 grab 0.106 2.34
Pipewrench North 449389 6240548 grab 0.084 1.85
Pipewrench North 449376 6240536 grab 0.024 0.53
Pipewrench North 449399 6240573 grab 0.242 5.33