Central Announces Merger with Canadian Uranium Financing

Central Resources Corp., (TSX VENTURE:CBC) ("Central" or the "Company") is
pleased to announce that it has entered into a letter of intent ("LOI") to
acquire (the "Acquisition") all of the issued and outstanding securities of
Canadian Uranium Corp. ("CANU"), an arms'-length private British Columbia mining
exploration company.


The Acquisition is expected to be structured as a three-cornered amalgamation
between Central, CANU and a wholly owned subsidiary of the company, whereby CANU
will amalgamate with Central's subsidiary to form a new entity ("Amalco"). The
shareholders of CANU will receive common shares of the Company ("CBC Shares") in
exchange for their common shares of Canadian Uranium ("CANU Shares") on the
basis of one (1) CBC Share for every one and a half (1.5) CANU Shares (the
"Share Exchange"), and the Company will acquire all of the issued and
outstanding common shares of Amalco. The Company will also change its name to
"Canadian Uranium Inc." or a similar name in connection with the Acquisition.


Prior to the Share Exchange, Central will effect a consolidation of the CBC
Shares (the "Consolidation") on a two for one basis, resulting in 7,558,500 CBC
Shares issued and outstanding based on 15,117,000 CBC Shares being issued and
outstanding as of the date hereof.


After the Share Exchange, the Company is expected to have 19,423,168 common
shares issued and outstanding based on the current capital structure of CANU and
Central, with shareholders of CANU holding approximately 61% of the issued
shares and Central shareholders holding approximately 39% of the issued shares.


In connection with the Acquisition, the Company will undertake a private
placement (the "Private Placement") of common shares in two tranches for gross
proceeds of not less than $700,000 at a price per post-Consolidation CBC Share
of $0.075 (or at a price per pre-Consolidation share of $0.0375). It is
anticipated that the Company may settle a portion of outstanding debts on the
same terms as the Private Placement.


Completion of the Acquisition is subject to a number of conditions, including,
but not limited to the receipt of all necessary regulatory, corporate and third
party approvals, compliance with all applicable regulatory requirements, and the
completion of the Private Placements for gross proceeds of not less than
$700,000. It is expected that the acquisition will constitute a Reverse Takeover
("RTO") under the rules and policies of the TSX Venture Exchange.


The LOI contemplates material conditions precedent to be fulfilled prior to
there being a binding agreement between the Company and CANU, including
customary due diligence, the negotiation and execution of a definitive agreement
and board approvals being obtained. Until satisfaction of these and other
conditions precedent, the likelihood of closing the transaction is uncertain and
trading in the securities of the Company would be highly speculative. Further
disclosure concerning the terms and conditions of the Acquisition will be
disclosed once the conditions precedent have been fulfilled and a definitive
agreement is entered into.


Trading in the Company's shares has been halted in compliance with the RTO
policies of the TSX Venture Exchange.


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release.


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


This news release contains forward-looking information, which involves known and
unknown risks, uncertainties and other factors that may cause actual events to
differ materially from current expectation. Important factors - including the
availability of funds, the results of financing efforts, the results of
exploration activities -- that could cause actual results to differ materially
from the Company's expectations are disclosed in the Company's documents filed
from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date of this press release. The company disclaims any intention or
obligation, except to the extent required by law, to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Central Resources Corp.
Paul Reynolds
President and CEO
604 630 3731
info@centralres.ca
www.centralres.ca
Uranium Standard Resources Ltd. (TSXV:CBC)
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