Anaconda Uranium Reprices Warrants.

TORONTO--(BUSINESS WIRE)--April 9, 1998--Anaconda Uranium Cor(TSE:ANU.) Anaconda Uranium Corporation announces that it has made application to the Vancouver Stock Exchange (the "VSE") to reprice the common share purchase warrants that will be distributed on the exercise of 2,833,333 special warrants issued in April 1997.

Each of the special warrants is exercisable into 1.1 units, each whole unit comprising one common share and one common share purchase warrant. Anaconda is seeking the approval of the VSE to lower the exercise price of the common share purchase warrants to $0.27 per common share. In accordance with VSE policies, the new exercise price is based on the 10 day average closing price of the Company's common shares on the VSE.

The repriced common share purchase warrants will expire on the earlier of: (i) the original expiry date, October 4, 1998; and (ii) an accelerated expiry date. Pursuant to the policies of the VSE, the accelerated expiry date will be effective if the closing price of the Company's common shares on the VSE is 25 percent higher than the new exercise price for 10 consecutive trading days. In such an event, the repriced common share purchase warrants will expire within 30 days.

The Company also announces the repricing, subject to regulatory approval, of previously issued incentive options to purchase a total of 1,100,000 common shares, and of previously announced but not yet issued options to purchase a total of 280,000 common shares. These options will be exercisable for the remainder of their term at a price of $0.27 per common share.

CONTACT: Anaconda Uranium Corporation

John Cook, 416/864-1012

416/864-1369 (FAX)

or

Anaconda Uranium Corporation

Ann Slattery, 416/864-1012

416/ 864-1369 (FAX)

[e-mail]

Website: http://www.inline-online.com/anaconda