Company Expands Scope of Research and Development

MCLEAN, Va.--(BUSINESS WIRE)--July 9, 2008--Thorium Power Ltd. (OTCBB: THPW), the leading developer of non-proliferative nuclear fuel technology and a key provider of comprehensive advisory services, today announced the appointment of two nuclear industry stalwarts. Robert Ihde will serve as Thorium Power's Senior Vice President for Nuclear Technology while Dr. Claudio Filippone will serve in the capacity of Senior Director of Nuclear Technology Analysis.

Mr. Ihde brings a wealth of experience to Thorium Power from his years in leadership positions with Areva and Babcock & Wilcox while Dr. Filippone's extensive nuclear technology knowledge has been most recently applied as a professor of Nuclear Science at the University of Maryland. They join Thorium Power at a time when the Company is accelerating its ongoing technical work on its key proliferation-resistant fuel designs and expanding the scope of its technology platform development. Thorium Power will call on Mr. Ihde and Dr. Filippone to help manage and execute various technology related projects within the Company.

In addition to the ongoing development work tied to the VVER-1000 reactor fuel designs, Thorium Power is pursuing additional Western-style pressure water reactor fuel designs. Furthermore, the expansion of scope also includes joint projects tied to leading American technology partners and preparations for additional patent filings. By focusing on nuclear fuel designs for Western reactors, Mr. Ihde and Dr. Filippone will address an expanding area for Thorium Power.

Seth Grae, Thorium Power's President and CEO, stated: "Our priority is to commercialize Thorium Power's proprietary non-proliferative fuel. The addition of Bob Ihde and Claudio Filippone to our team strengthens this effort. Bob has a wealth of experience on both the technology side and the business side of nuclear fuels while Claudio is widely recognized as one of the most accomplished and innovative nuclear researchers active in the field."

Andrey Mushakov, Thorium Power's Executive Vice President for International Nuclear Operations, added: "I am immensely gratified that Bob and Claudio have joined our company. In working with our team of scientists and engineers in Moscow as well as our Technical Advisory Board, they will help bring a sharp focus on how best to demonstrate the inherent advantages of our fuel designs in terms of proliferation resistance, low waste generation and operator economics."

Robert Ihde currently serves on Thorium Power's Technical Advisory Board and will maintain this position. Most recently, Mr. Ihde held key management positions within AREVA, including President & CEO of Duke, Cogema, Stone & Webster where his responsibilities included carrying out the U.S. MOX (Mixed Oxide) fuel program during his 2000 to 2005 tenure. He also served as President & COO of Cogema Technologies, Inc. from 1995 to 1999. In addition, Mr. Ihde spent a significant part of his career at Babcock & Wilcox where he held various senior management positions. While at Babcock & Wilcox, Mr. Ihde led the Nuclear Fuel Services Business Unit and the formation of B&W Fuel Company, where, as President, he was responsible for establishing license agreements with international partners and successfully implemented new fuel assembly designs as well as related fuel hardware and services.

Dr. Filippone is an expert in nuclear engineering and related energy systems with decades of problem solving experience and out-of-the-box thinking. He has worked on advanced thermal-hydraulic systems utilized in conventional and advanced nuclear, fossil-fuel burning, and renewable energy power systems. In 2005, he served as senior science advisor to Washington Policy and Analysis, Inc., a D.C.-based policy consultancy headed by the former Deputy Secretary of Energy and current chairman of the Department of Energy's Nuclear Energy Research Advisory Committee. Dr. Filippone is the author of numerous nuclear related patents and is a specialist in regard to intellectual property. Dr. Filippone received his Ph.D. in Nuclear Engineering from the University of Maryland, College Park in 1996, and his Diploma of Maturita in Electrical Engineering from the Istituto Tecnico Industriale G. Marconi in Verona, Italy in 1983.

About Thorium Power, Ltd.

Thorium Power 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 seeks and forms partnerships with participants in the global nuclear industry, allowing it to address a wide range of international opportunities.

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

CONTACT: Thorium Power, Ltd.
Peter Charles, 703-918-4932
ir@thoriumpower.com

SOURCE: Thorium Power Ltd.