OBERON URANIUM CORP. announced that it has entered into a property purchase and sale agreement (the "Agreement") with Forty Pillars Mining Corp. ("Forty Pillars"), an arm's length party to Oberon, pursuant to which Oberon has agreed to sell its Element 92 Uranium Property, comprised of a single Saskatchewan mineral claim number covering 5,961 hectares located in northern Saskatchewan, Canada, on the southern end of the Athabasca region (the "Property").

Under the Agreement, Forty Pillars has agreed to pay to Oberon $10,000 in cash and to issue 2,000,000 common shares of Forty Pillars on closing of the transaction. The shares will be subject to a four month hold period in accordance with applicable securities laws. It is anticipated that Oberon will be an insider of Forty Pillars on closing of the transaction, by reason of holding approximately 17.25% of the issued and outstanding shares of Forty Pillars post-closing.

Closing is subject to customary conditions of closing, including completion of due diligence by Forty Pillars and approval of the Canadian Securities Exchange (if required), and is expected to complete shortly.