Thorium Power, Ltd. (OTCBB: THPW), the leading developer of non-proliferative nuclear fuel technology and provider of comprehensive advisory services for emerging nuclear programs, today welcomed the bipartisan action by the Congress of the United States to approve the Peaceful Uses of Nuclear Energy Agreement, also known as the "123 Agreement" between the United States and India. Once signed by the President, this Agreement will permit full civil nuclear energy cooperation between the parties and allow American companies to undertake exchanges of technology, to work together with Indian companies and scientists on joint research and development efforts and to form joint ventures in the civilian nuclear energy field.

Seth Grae, the President and CEO of Thorium Power, stated: "We are very appreciative of the efforts of the President and the Congress to bring this Agreement into force. The strong bipartisan support for this measure is indicative of the recognition by the Congress that India can be a strong ally and valued partner in developing safe civilian nuclear power for both our nations' continued economic development."

Grae continued: "India is in the forefront of the world in recognizing the distinct advantages of using thorium in the nuclear fuel cycle while Thorium Power is the world leader in developing non-proliferative, low waste thorium nuclear fuels. There is much we can learn from each other and much we can do together. We have engaged various entities in India's private and governmental sectors for many years. This agreement allows us to hold advanced discussions with some of the leading entities and we anticipate that these business opportunities will move forward."

Grae concluded by noting: "India will become a significant player on the international nuclear market given the nation's great number of highly skilled nuclear engineers and scientists, and successful and far reaching multinational corporations. We at Thorium Power believe the 123 Agreement affords a unique opportunity to combine India's great strengths with innovative American technology to significantly advance the world-wide nuclear renaissance."

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About Thorium Power, Ltd.

Thorium Power (OTCBB: THPW) is a pioneering U.S. nuclear energy company based in McLean, VA. The Company develops non-proliferative nuclear fuel technology and provides comprehensive advisory services for emerging nuclear programs based on a philosophy of transparency, non-proliferation, safety and operational excellence. Thorium Power's technologies, which are aimed at both existing and future reactors, include nuclear fuel designs optimized to address key concerns regarding traditional nuclear power, including proliferation of weapons usable nuclear materials and reduction of nuclear waste. The Company maintains a seasoned team with unparalleled experience from the nuclear energy industry, regulatory and government affairs, non-proliferation and diplomacy. It leverages those broad and integrated capabilities by offering consulting and strategic advisory services to commercial entities and governments with a need to establish or expand nuclear industry capabilities and infrastructure. Thorium Power also maintains long-standing relationships with leading Russian nuclear entities, providing expert resources and facilities for its nuclear fuel development activities. The Company enters into partnerships with participants in the global nuclear industry, allowing it to address a wide range of international opportunities.

DISCLAIMER

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of new agreements and other statements identified by forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "expects," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein. Reference is made to the risk factors contained in our latest annual report as filed with the Securities and Exchange Commission. These factors may cause actual results to vary from the forward-looking statements contained in this release.

Further information is available on Thorium Power, Ltd.'s website at http://www.thoriumpower.com

CONTACT:
Thorium Power, Ltd.
Peter Charles
(571)730-1200
ir@thoriumpower.com