CUE Cue Resources Ltd.

Cue Resources Ltd. ("Cue") (TSX VENTURE:CUE) is pleased to announce the results
of its recently completed drill program on its 100% owned Yuty Project in the
Republic of Paraguay. The program consisted of 33 drill holes for a total of
3596 meters. The objectives of the program were to expand the previously defined
limits of the San Antonio deposit, as well as to increase the understanding of
some areas with resources where the drilling is relatively wide spaced.


The drilling has successfully identified a modest expansion of the deposit
limits to the south and west of the main zone, and has also successfully
confirmed previously identified high grade mineralized zones within the deposit
limits.


Drilling was performed by two diamond drill rigs and two reverse circulation
rigs. Radiometric (gamma) and electric downhole logging was completed on all
holes. The logging was performed using industry standard equipment which was
calibrated both in Paraguay and in the US Department of Energy test pits in
Grand Junction, CO USA. Equivalent uranium grades (eU3O8) were estimated from
the downhole gamma readings, as per standard industry practice. Doug Beahm, PE,
PG, is a qualified person and was on site during the initiation of the drilling
program during which time he assisted in the development of standard protocols
for geophysical logging, calibration, and log interpretation. Mr. Beahm observed
the drilling and geophysical logging practices and can attest as to the
reliability of the data collected during the drilling program for the purposes
of resource calculations in accordance with 43-101 regulations and CIM
standards.


Of the 33 drill holes, 5 were not completed to the target horizon because of
adverse drilling conditions. Of the 28 holes that reached the target, 10 had
intersections greater than a GT (grade x thickness) of 0.10 m% eU3O8, and an
additional 13 had intersections exceeding a GT of 0.03 m% eU3O8 (the minimum
cut-off used for inclusion in the resource estimate mentioned below).


Highlights of the drill program include:



----------------------------------------------------------------------------
                              Total                                       GT
Drill Hole #         Type     Depth         Best Intercept         (m%eU3O8)
                                   -------------------------------          
                                    THK (m) To (m) From (m) %eU3O8          
----------------------------------------------------------------------------
1245             Step Out    126.00    2.59  83.82    86.41   0.05      0.12
----------------------------------------------------------------------------
1246             Step Out    118.65    1.99  83.86    85.85   0.11      0.22
----------------------------------------------------------------------------
1255               Infill    106.20    6.28  78.00    84.28   0.08      0.50
----------------------------------------------------------------------------
1256               Infill    102.00    2.59  77.40    79.99   0.05      0.12
----------------------------------------------------------------------------
1257               Infill    102.00    3.29  78.30    81.59   0.03      0.11
----------------------------------------------------------------------------
1258               Infill     93.00    2.49  74.21    76.70   0.07      0.17
----------------------------------------------------------------------------
1260               Infill     91.20    0.90  85.38    86.28   0.12      0.11
----------------------------------------------------------------------------
1262               Infill    102.00    6.28  72.42    78.70   0.20      1.22
----------------------------------------------------------------------------
1266A              Infill    102.00    5.69  71.92    77.61   0.03      0.14
----------------------------------------------------------------------------
1268               Infill    112.00    3.09  88.57    91.66   0.11      0.35
----------------------------------------------------------------------------



"We are satisfied that we have now identified the western extension of the San
Antonio deposit and confirmed earlier results showing a higher grade zone in the
main ore body at San Antonio with this first of a 2 part drill program,"
commented Bob Tyson, president and CEO of Cue. "The Company plans to continue
this process with another 3500 meter drill program planned for the southern
extension in the coming weeks".


Chris M. Healey, P.Geo, a director of Cue, is the Qualified Person responsible
for the technical content of this release.


About Cue Resources

Cue Resources Ltd. is focused on developing the Yuty Uranium District in
south-eastern Paraguay. Two major drilling campaigns have been completed by Cue
leading to the completion of the most recent NI 43-101 compliant resource
reporting an Indicated Resource of 9.0M tonnes @ 0.042% eU3O8 containing 8.3M
lbs eU3O8 and an Inferred Resource of 1.1M tonnes @ 0.050% eU3O8 containing 1.2M
lbs eU3O8. Column leach tests have demonstrated recovery of up to 86% of the
contained uranium from cores taken from San Antonio. In addition, laboratory
testing on drill cores has shown permeability and porosity values within the
range of existing commercial ISR operations. For detailed information, please
see the Cue web site at http://www.cue-resources.com.


On behalf of the Board of Directors

Robert S. Tyson, President and Chief Executive Officer

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