NWT Uranium (NWT) 6-K Current report (foreign)

Exhibit 99.9

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2008
(Expressed in Canadian Dollars)

MANAGEMENT'S RESPONSIBILITY FOR FINANCIAL REPORTING

The accompanying unaudited interim consolidated financial statements of NWT Uranium Corp. were prepared by management in accordance with Canadian generally accepted accounting principles. The most significant of these accounting principles have been set out in the December 31, 2007 audited consolidated financial statements. Only changes in accounting policies have been disclosed in these unaudited interim consolidated financial statements. Management acknowledges responsibility for the preparation and presentation of the unaudited interim consolidated financial statements, including responsibility for significant accounting judgments and estimates and the choice of accounting principles and methods that are appropriate to the Company's circumstances.

Management has established processes, which are in place to provide them sufficient knowledge to support management representations that they have exercised reasonable diligence that (i) the unaudited interim consolidated financial statements do not contain any untrue statement of material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it is made, as of the date of and for the periods presented by the unaudited interim consolidated financial statements and (ii) the unaudited interim consolidated financial statements fairly present in all material respects the financial condition, results of operations and cash flows of the Company, as of the date of and for the periods presented by the unaudited interim consolidated financial statements.

The Board of Directors is responsible for reviewing and approving the unaudited interim consolidated financial statements together with other financial information of the Company and for ensuring that management fulfills its financial reporting responsibilities. An Audit Committee assists the Board of Directors in fulfilling this responsibility. The Audit Committee meets with management to review the financial reporting process and the unaudited interim consolidated financial statements together with other financial information of the Company. The Audit Committee reports its findings to the Board of Directors for its consideration in approving the unaudited interim consolidated financial statements together with other financial information of the Company for issuance to the shareholders.

Management recognizes its responsibility for conducting the Company's affairs in compliance with established financial standards, and applicable laws and regulations, and for maintaining proper standards of conduct for its activities.

NOTICE TO READER

Under National Instrument 51-102, Part 4, subsection 4.3(3)(a), if an auditor has not performed a review of the unaudited interim consolidated financial statements, they must be accompanied by a notice indicating that the consolidated financial statements have not been reviewed by an auditor.

The accompanying unaudited interim consolidated financial statements of the Company have been prepared by and are the responsibility of the Company's management.

The Company's independent auditor has not performed a review of these unaudited interim consolidated financial statements in accordance with standards established by the Canadian Institute of Chartered Accountants for a review of interim financial statements by an entity's auditor.

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Balance Sheets

(Expressed in Canadian Dollars)

(Unaudited)

		September 30,		December 31,
		2008		2007
Assets
Current
Cash	$	3,612,020	$	905,473
Short term investments		4,908,864		12,318,540
Due from Niger Uranium Limited		576,133		576,133
Amounts receivable and prepaid expenses		321,430		481,520
		9,418,447		14,281,666
Property expenditures advances		61,119		61,119
Fixed assets (Note 5)		561,409		676,627
Equity investment in Niger Uranium Limited		12,833,397		15,982,500
Interest in exploration properties and
deferred exploration expenditures (Note 6 and statement)		5,345,922		5,339,961
	$	28,220,294	$	36,341,873
Liabilities and Shareholders' Equity
Current
Accounts payable and accrued liabilities (Note 10)	$	849,155	$	628,670
Income taxes payable		219,505		3,312,134
		1,068,660		3,940,804
Future income tax liability		353,400		353,400
		1,422,060		4,294,204
Shareholders' equity
Common shares (statement)		19,633,843		19,574,843
Warrants (Note 8 and statement)		-		3,138,900
Contributed surplus (statement)		6,576,648		2,944,657
Accumulated retained earnings		587,743		6,389,269
		26,798,234		32,047,669
	$	28,220,294	$	36,341,873
NATURE OF OPERATIONS AND GOING CONCERN(Note 1)
SUBSEQUENT EVENTS(Note 13)

The accompanying notes are an integral part of these interim consolidated financial statements.
- 2 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Operations and Comprehensive Income (Loss)

(Expressed in Canadian Dollars)

														Cumulative from
														inception
		Three Months Ended						Nine Months ended						to
		September 30,						September 30,						September 30,
(Unaudited)		2008			2007			2008			2007			2008
Expenses
Stock based compensation expense
(Note 9)	$	304,704		$	157,395		$	493,091		$	317,547		$	2,915,968
Management and administrative
services		247,424			77,329			545,064			354,586			1,941,341
Investor relations and promotion		2,354			40,890			32,880			167,980			1,272,849
Professional fees		248,842			74,984			825,742			177,500			1,614,503
Office and administration		84,065			21,420			185,358			81,606			551,166
Travel expenses		57,455			38,834			101,866			76,443			386,159
Shareholders information		66,146			18,528			114,732			130,052			361,420
Regulatory fees		-			8,228			21,285			30,599			251,614
Amortization		84,454			5,893			153,218			8,747			280,375
Government fees and taxes		-			365			2,635			8,871			31,009
Foreign exchange loss		20,664			19,263			21,155			37,658			59,637
		1,116,108			463,129			2,497,026			1,391,589			9,666,041
Net loss for the period before
the following:		(1,116,108	)		(463,129	)		(2,497,026	)		(1,391,589	)		(9,666,041	)
Gain on disposition of Irhazer and In Gall
Projects, Niger		-			19,260,008			-			19,260,008			19,260,008
Exploration properties and deferred
exploration expenditures written-off		-			-			-			-			(2,450,246	)
Equity loss from Niger Uranium Limited		(3,304,500	)		-			(3,304,500	)		-			(3,304,500	)
Net income (loss) for the period before
provision for (recovery of) corporate
taxes:		(4,420,608	)		18,796,879			(5,801,526	)		17,868,419			3,839,221
Provision for (recovery of) corporate
taxes
Current income taxes		822,798			3,933,000			-			3,933,000			3,312,134
Future income taxes		(349,200	)		2,077,500			-			826,400			(60,656	)
		473,598			6,010,500			-			4,759,400			3,251,478
Net income (loss) for the period being
comprehensive income (loss)
for the period	$	(4,894,206	)	$	12,786,379		$	(5,801,526	)	$	13,109,019		$	587,743
Income (loss) per share - basic/diluted	$	(0.05	)	$	0.12		$	(0.05	)	$	0.12
Weighted average number of
common shares - basic		106,131,342			105,768,842			106,129,972			105,154,035
Weighted average number of
common shares - diluted		106,131,342			106,097,659			106,129,972			105,430,070

The accompanying notes are an integral part of these interim consolidated financial statements.
- 3 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Cash Flows

(Expressed in Canadian Dollars)

														Cumulative from
														inception
		Three Months Ended						Nine Months ended						to
		September 30,						September 30,						September 30,
(Unaudited)		2008			2007			2008			2007			2008
Cash provided by (used in)
OPERATING ACTIVITIES
Net income (loss) for the period	$	(4,894,206	)	$	12,786,379		$	(5,801,526	)	$	13,109,019		$	587,743
Stock based compensation expense
(Note 9)		304,704			157,395			493,091			317,547			2,915,968
Future income taxes		(438,500	)		2,077,500			-			826,400			(60,656	)
Equity loss from Niger Uranium Limited		3,304,500			-			3,304,500			-			3,304,500
Gain on disposition of Irhazer and In
Gall Projects, Niger		-			(19,260,008	)		-			(19,260,008	)		(19,260,008	)
Amortization		84,454			5,893			153,218			8,747			280,375
Exploration properties and deferred
exploration expenditures written-off		-			-			-			-			2,450,246
Changes in non-cash working
capital items
Amounts receivable and
prepaid expenses		125,134			299,007			160,090			(579,988	)		(321,430	)
Accounts payable and
accrued liabilities		246,457			471,889			220,485			217,224			624,142
Income taxes payable		(2,180,531	)		3,933,000			(3,092,629	)		3,933,000			219,505
		(3,447,988	)		471,055			(4,562,771	)		(1,428,059	)		(9,259,615	)
FINANCING ACTIVITIES
Issue of common shares,
net of issue costs		-			-			-			-			20,541,385
Due from Niger Uranium Limited		-			(474,371	)		-			(474,371	)		-
Issue of warrants		-			-			-			-			-
Exercise of warrants		-			-			-			286,363			1,240,214
Exercise of options		-			-			-			292,500			935,361
Cash proceeds from disposition of Irhazer
and in Gall Projects, Niger		-			4,800,000			-			4,800,000			4,800,000
Issue of special warrants,
net of issue costs		-			-			-			-			-
	$	-		$	4,325,629		$	-		$	4,904,492		$	27,516,960

The accompanying notes are an integral part of these interim consolidated financial statements.
- 4 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Cash Flows (Continued)

(Expressed in Canadian Dollars)

(Unaudited)

														Cumulative from
														inception
		Three Months Ended						Nine Months ended						to
		September 30,						September 30,						September 30,
(Unaudited)		2008			2007			2008			2007			2008
INVESTING ACTIVITIES
Due from Niger Uranium Limited	$	9,725		$	-		$	-		$	-		$	(576,133	)
Fixed asset purchases		(4,370	)		(755,086	)		(38,000	)		(892,492	)		(1,069,446	)
Interest in exploration properties and
deferred exploration, net		43,432			(326,365	)		53,039			(2,024,338	)		(8,166,193	)
Purchase of short-term investment, net		6,439,597			(15,050,000	)		7,409,676			(5,800,000	)		(4,678,156	)
Purchase of equity investment in Niger
Uranium Limited		(155,397	)		-			(155,397	)		-			(155,397	)
		6,332,987			(16,131,451	)		7,269,318			(8,716,830	)		(14,645,325	)
Change in cash		2,884,999			(11,334,767	)		2,706,547			(5,240,397	)		3,612,020
Cash, beginning of period		727,021			11,576,777			905,473			5,482,407			-
Cash, end of period	$	3,612,020		$	242,010		$	3,612,020		$	242,010		$	3,612,020
Supplemental cash information
Interest paid	$	-		$	-		$	-		$	-		$	3,899
Income tax paid	$	3,211,600		$	-		$	3,211,600		$	-		$	3,211,600
Warrants issued for services provided	$	-		$	-		$	-		$	-		$	796,736
Change in accrued exploration
expenditures	$	-		$	-		$	-		$	-		$	225,013
Value of shares and options issued to
acquire exploration properties	$	-		$	-		$	59,000		$	-		$	991,619
Change in accrued capitalized interest	$	-		$	-		$	-		$	-		$	230,708
Change in accrued prepaid
expenditures	$	-		$	-		$	-		$	-		$	61,119

The accompanying notes are an integral part of these interim consolidated financial statements.
- 5 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Shareholders' Equity

(Expressed in Canadian Dollars)

(Unaudited)

From Commencement of Operations (September 26, 2003) to September 30, 2008

				Special				Contributed		Accumulated
	Common shares			Warrants		Warrants		Surplus		Retained Earnings		Total
	#	$		$		$		$		$		$
Issue of shares for cash	4,000,000	101		-		-		-		-		101
Issue of special warrants for cash	-	-		195,409		-		-		-		195,409
Loss for the year	-	-		-		-		-		(33,097	)	(33,097	)
Balance, December 31, 2003	4,000,000	101		195,409		-		-		(33,097	)	162,413
Public offering, net of issue costs	60,000,000	1,321,537		-		-		-		-		1,321,537
Conversion of special warrants	8,000,000	195,409		(195,409	)	-		-		-		-
Flow through private placement, net
of issue costs	412,000	114,891		-		-		-		-		114,891
Stock based compensation	-	-		-		-		424,183		-		424,183
Private placement, net of issue costs	2,909,000	539,911		-		256,935		-		-		796,846
Loss for the year	-	-		-		-		-		(1,121,460	)	(1,121,460	)
Balance, December 31, 2004	75,321,000	2,171,849		-		256,935		424,183		(1,154,557	)	1,698,410
Private placement, net of issue
costs	3,950,090	1,636,155		-		222,749		-		-		1,858,904
Exercise of stock options	200,000	101,500		-		-		(44,000	)	-		57,500
Flow through tax effect on date of
renunciation	-	(45,200	)	-		-		-		-		(45,200	)
Stock based compensation	-	-		-		-		493,468		-		493,468
Exercise of warrants	455,000	283,475		-		(62,600	)	-		-		220,875
Shares issued for interest in exploration
properties and deferred exploration
expenditures	300,000	182,000		-		-		-		-		182,000
Loss for the year	-	-		-		-		-		(1,780,074	)	(1,780,074	)
Balance, December 31, 2005	80,226,090	4,329,779		-		417,084		873,651		(2,934,631	)	2,685,883

The accompanying notes are an integral part of these interim consolidated financial statements.
- 6 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Shareholders' Equity (Continued)

(Expressed in Canadian Dollars)

(Unaudited)

From Commencement of Operations (September 26, 2003) to September 30, 2008

				Special			Contributed		Accumulated
	Common shares			Warrants	Warrants		Surplus		Retained Earnings		Total
	#	$		$	$		$		$		$
Balance, December 31, 2005	80,226,090	4,329,779		-	417,084		873,651		(2,934,631	)	2,685,883
Private placement, net of issue costs	21,144,027	12,555,474		-	3,982,884		-		-		16,538,358
Exercise of stock options	920,000	476,800		-	-		(203,600	)	-		273,200
Flow through tax effect on date of
renunciation	-	(295,085	)	-	(73,771	)	-		-		(368,856	)
Stock based compensation	-	-		-	-		1,197,663		-		1,197,663
Shares issued for interest in exploration
properties and deferred exploration
expenditures	640,000	469,600		-	-		-		-		469,600
Exercise of warrants	1,559,636	941,458		-	(208,482	)	-		-		732,976
Expired warrants	-	-		-	(167,733	)	167,733		-		-
Loss for the year	-	-		-	-		-		(2,421,484	)	(2,421,484	)
Balance, December 31, 2006	104,489,753	18,478,026		-	3,949,982		2,035,447		(5,356,115	)	19,107,340
Shares issued for interest in exploration
properties and deferred exploration
expenditures	350,000	229,500		-	-		-		-		229,500
Exercise of options	782,500	320,000		-	-		-		-		320,000
Fair value of option exercise	-	217,500		-	-		(217,500	)	-		-
Exercise of warrants	409,089	286,363		-	-		-		-		286,363
Fair value of warrant exercise	-	43,454		-	(43,454	)	-		-		-
Expired warrants	-	-		-	(767,628	)	767,628		-		-
Stock based compensation	-	-		-	-		359,082		-		359,082
Income for the period	-	-		-	-		-		11,745,384		11,745,384
Balance, December 31, 2007	106,031,342	19,574,843		-	3,138,900		2,944,657		6,389,269		32,047,669

The accompanying notes are an integral part of these interim consolidated financial statements.
- 7 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Shareholders' Equity (Continued)

(Expressed in Canadian Dollars)

(Unaudited)

From Commencement of Operations (September 26, 2003) to September 30, 2008

			Special			Contributed	Accumulated
	Common shares		Warrants	Warrants		Surplus	Retained Earnings		Total
	#	$	$	$		$	$		$
Balance, December 31, 2007	106,031,342	19,574,843	-	3,138,900		2,944,657	6,389,269		32,047,669
Shares issued for interest in exploration
properties and deferred exploration
expenditures (Note 6(i))	100,000	59,000	-	-		-	-		59,000
Expired warrants	-	-	-	(3,138,900	)	3,138,900	-		-
Stock based compensation (Note 9)	-	-	-	-		493,091	-		493,091
Loss for the period	-	-	-	-		-	(5,801,526	)	(5,801,526	)
Balance, September 30, 2008	106,131,342	19,633,843	-	-		6,576,648	587,743		26,798,234

			Special			Contributed		Accumulated
	Common shares		Warrants	Warrants		Surplus		Retained Earnings		Total
	#	$	$	$		$		$		$
Balance, December 31, 2006	104,489,753	18,478,026	-	3,949,982		2,035,447		(5,356,115	)	19,107,340
Shares issued for interest in exploration
properties and deferred exploration
expenditures	150,000	115,500	-	-		-		-		115,500
Exercise of options	720,000	292,500	-	-		-		-		292,500
Fair value of option exercise	-	197,250	-	-		(197,250	)	-		-
Exercise of warrants	409,089	286,363	-	-		-		-		286,363
Fair value of warrant exercise	-	43,454	-	(43,454	)	-		-		-
Stock based compensation	-	-	-	-		317,547		-		317,547	��
Income for the period	-	-	-	-		-		13,109,019		13,109,019
Balance, September 30, 2007	105,768,842	19,413,093	-	3,906,528		2,155,744		7,752,904		33,228,269

The accompanying notes are an integral part of these interim consolidated financial statements.
- 8 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Interest in Exploration Properties and Deferred

Exploration Expenditures (Expressed in Canadian Dollars)

								Cumulative
								from
		Nine Months						inception
		Ended			Year ended			to
		September 30,			December 31,			September 30,
(Unaudited)		2008			2007			2008
Picachos Project, Mexico
Opening balance	$	1,990,494		$	1,260,664		$	-
Geological, reports and maps		-			119			201,664
Geology		45,975			19,982			65,957
Labour		-			-			8,830
Earthwork and roads		24,929			81,101			112,047
Environment		33,886			6,896			40,782
Line and grid cutting		-			-			15,121
Geophysics		-			63,448			151,204
Geochemistry		-			4,524			4,524
Camp costs		1,646			2,401			31,189
Transportation		-			-			6,386
Management fees		-			-			8,965
Professional fees		-			-			12,139
Drilling		81,111			379,691			466,492
Option payments		15,769			15,570			549,243
Staking		27,653			4,070			47,649
General		12,735			27,976			69,921
Analysis and assaying		-			-			127,346
Exploration advance		-			-			297,739
Property payments		-			214,000			214,000
Interest income		(143,148	)		(89,948	)		(340,148	)
Activity during the period		100,556			729,830			2,091,050
Closing balance	$	2,091,050		$	1,990,494		$	2,091,050

The accompanying notes are an integral part of these interim consolidated financial statements.
- 9 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Interest in Exploration Properties and Deferred

Exploration Expenditures (Expressed in Canadian Dollars)

							Cumulative
							from
		Nine Months					inception
		Ended		Year ended			to
		September 30,		December 31,			September 30,
(Unaudited)		2008		2007			2008
Waterbury Project, Canada
Opening balance	$	-	$	939,967		$	-
Assays		-		-			5,464
Geological, reports and maps		-		810			82,104
Drilling		-		294,548			516,460
Geophysics		-		105,885			434,881
Labour		-		-			69,500
Professional fees		-		-			10,799
Management fees		-		-			73,478
Operating costs		-		-			118,846
Option payment		-		25,000			197,050
Administration		-		110,880			110,880
Termination payment		-		252,358			252,358
Government assistance		-		(3,378	)		(47,914	)
Interest income		-		(86,765	)		(184,601	)
Activity during the period		-		699,338			1,639,305
Write-off of Waterbury Project		-		(1,639,305	)		(1,639,305	)
Closing balance	$	-	$	-		$	-
Irhazer and In Gall Projects, Niger
Opening balance	$	-	$	1,097,599		$	-
Project administration costs		-		117,058			442,237
Acquisition costs		-		-			223,848
Camp costs		-		10,532			17,138
Drilling		-		22,294			22,294
Environmental		-		105,386			201,902
Geological		-		70,987			88,235
Geochemistry		-		6,760			6,760
Geophysical		-		200,967			299,949
Line and grid cutting		-		16,018			20,408
Surveys		-		-			422,666
Recovery of costs		-		(112,797	)		(112,797	)
Interest income		-		(204,307	)		(302,143	)
Disposal of Irhazer and In
Gall Projects		-		(1,330,497	)		(1,330,497	)
Activity during the period		-		(1,097,599	)		-
Closing balance	$	-	$	-		$	-

The accompanying notes are an integral part of these interim consolidated financial statements.
- 10 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Interim Consolidated Statements of Interest in Exploration Properties and Deferred

Exploration Expenditures (Expressed in Canadian Dollars)

								Cumulative
								from
		Nine Months						inception
		Ended			Year ended			to
		September 30,			December 31,			September 30,
(Unaudited)		2008			2007			2008
North Rae Uranium Project, Canada (Note 6(ii))
Opening balance	$	2,999,163		$	889,200		$	-
Camp costs		-			32,170			32,170
Drilling		48,093			285,376			333,469
Environment		3,150			3,050			6,200
Geophysical		16,291			179,535			207,628
Geochemical		-			5,062			5,062
Geology		58,277			1,693,006			1,751,283
Exploration		-			-			716,190
Staking		68,442			4,080			154,472
Acquisition costs		30,000			83,270			210,354
Professional fees		6,624			1,658			65,088
Survey costs		-			63,435			63,435
Administration		9,363			14,170			27,556
Quebec government assistance
recovery		(255,384	)		-			(255,384	)
Interest income		(138,449	)		(254,849	)		(471,953	)
Activity during the period		(153,593	)		2,109,963			2,845,570
Closing balance	$	2,845,570		$	2,999,163		$	2,845,570
Daniel Lake Uranium Project, Canada (Note 6(ii))
Opening balance	$	350,304		$	-		$	-
Staking		-			40,260			40,260
Professional fees		6,421			2,785			9,206
Acquisition costs		108,401			127,754			236,155
Survey costs		6,685			219,605			226,290
Geophysical		2,411			4,220			6,631
Geochemistry		-			760			760
Geology		3,096			8,018			11,114
Administration		9,788			1,188			10,976
Quebec government assistance
recovery		(32,104	)		-			(32,104	)
Interest income		(45,700	)		(54,286	)		(99,986	)
Activity during the period		58,998			350,304			409,302
Closing balance	$	409,302		$	350,304		$	409,302
TOTAL	$	5,345,922		$	5,339,961		$	5,345,922

The accompanying notes are an integral part of these interim consolidated financial statements.
- 11 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

1. NATURE OF OPERATIONS AND GOING CONCERN

NWT Uranium Corp. (the "Company" or "NWT") was incorporated under the laws of the Province of Ontario, Canada by Articles of Incorporation dated September 26, 2003. The Company, which is in the development stage as defined by the Canadian Institute of Chartered Accountants ("CICA") Accounting Guideline 11 "Enterprises in the Development Stage", is engaged in the acquisition, exploration and development of mineral resource properties with a focus on uranium. As of September 30, 2008, the Company has interests in Canada, Niger and Mexico. The Company is in the process of exploring its exploration properties for mineral resources and has not determined whether the properties contain economically recoverable reserves. The recovery of the amounts shown for the exploration properties and the related deferred expenditures is dependent upon the existence of economically recoverable reserves, confirmation of the Company's interest in the underlying mineral claims, the ability of the Company to obtain necessary financing to complete the exploration, and upon future profitable production.

The business of mining and exploring for minerals involves a high degree of risk and there can be no assurance that current exploration programs will result in profitable mining operations. The recoverability of the carrying values of exploration properties and the Company's continued existence is dependent upon the preservation of its interest in the underlying properties, the discovery of economically recoverable reserves, the achievement of profitable operations and the ability of the Company to obtain financing necessary to complete development of the properties, or alternatively, upon the Company's ability to dispose of its interests on an advantageous basis. Changes in future conditions could require material write downs of the carrying values. Some of the Company's exploration properties are located outside of Canada and are subject to the risk of foreign investment, including increases in taxes and royalties, renegotiation of contracts, currency exchange fluctuations and political uncertainty.

Although the Company has taken steps to verify title to the properties on which it is conducting exploration and in which it has an interest, in accordance with industry standards for the current stage of exploration of such properties, these procedures do not guarantee the Company's title. Property title may be subject to unregistered prior agreements and non-compliance with regulatory requirements.

As at September 30, 2008, the Company had cash of $3,612,020 (December 31, 2007 - $905,473), short term investments of $4,908,864 (December 31, 2007 - $12,318,540) and working capital of $8,349,787 (December 31, 2007 - $10,340,862). Management of the Company believes that it has sufficient funds to pay its ongoing administrative expenses and to meet its liabilities for the ensuing twelve months as they fall due. In assessing whether the going concern assumption is appropriate, management takes into account all available information about the future, which is at least, but not limited to, twelve months from the end of the reporting period. The Company's ability to continue operations and fund its mineral property expenditures is dependent on management's ability to secure additional financing. Management is actively pursuing such additional sources of financing, and while it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future. Management is aware, in making its assessment, of material uncertainties related to events or conditions that may cast significant doubt upon the entity's ability to continue as a going concern. Accordingly, they do not give effect to adjustments that would be necessary should the Company be unable to continue as a going concern and therefore to realize its assets and liquidate its liabilities and commitments in other than the normal course of business and at amounts different from those in the accompanying unaudited consolidated interim financial statements.

- 12 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The unaudited interim consolidated financial statements have been prepared in accordance with Canadian generally accepted accounting principles for interim financial information. Accordingly, they do not include all of the information and notes to the interim consolidated financial statements required by Canadian generally accepted accounting principles for annual consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2008 may not necessarily be indicative of the results that may be expected for the year ending December 31, 2008.

The unaudited consolidated balance sheet at December 31, 2007 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by Canadian generally accepted accounting principles for annual consolidated financial statements. The unaudited interim consolidated financial statements have been prepared by management in accordance with the accounting policies described in the Company's annual audited consolidated financial statements for the year ended December 31, 2007, except as noted below. For further information, refer to the audited consolidated financial statements and notes thereto for the year ended December 31, 2007.

Capital Disclosures and Financial Instruments – Disclosures and Presentation

On December 1, 2006, the CICA issued three new accounting standards: Capital Disclosures (Handbook Section 1535), Financial Instruments – Disclosures (Handbook Section 3862), and Financial Instruments – Presentation (Handbook Section 3863). These new standards became effective for the Company on January 1, 2008.

Capital Disclosures
Handbook Section 1535 specifies the disclosure of (i) an entity's objectives, policies and processes for managing capital; (ii) quantitative data about what the entity regards as capital; (iii) whether the entity has complied with any capital requirements; and (iv) if it has not complied, the consequences of such noncompliance. The Company has included disclosures recommended by the new Handbook section in Note 3 to these unaudited interim consolidated financial statements.

Financial Instruments
Handbook Sections 3862 and 3863 replace Handbook Section 3861, Financial Instruments – Disclosure and Presentation, revising and enhancing its disclosure requirements, and carrying forward unchanged its presentation requirements. These new sections place increased emphasis on disclosures about the nature and extent of risks arising from financial instruments and how the entity manages those risks. The Company has included disclosures recommended by the new Handbook sections in Note 4 to these unaudited interim consolidated financial statements.

Amendments To Section 1400 – General Standards of Financial Statement Presentation

In June 2007, the CICA amended Handbook Section 1400, Going Concern, to include additional requirements to assess and disclose an entity's ability to continue as a going concern. Section 1400 is effective for interim and annual reporting periods beginning on or after January 1, 2008. The adoption of this standard had no impact on the Company's operating results or financial position.

- 13 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Future accounting changes

International Financial Reporting Standards (“IFRS”)
In January 2006, the CICA's Accounting Standards Board ("AcSB") formally adopted the strategy of replacing Canadian GAAP with IFRS for Canadian enterprises with public accountability. The current conversion timetable calls for financial reporting under IFRS for accounting periods commencing on or after January 1, 2011. On February 13, 2008 the AcSB confirmed that the use of IFRS will be required in 2011 for publicly accountable profit-oriented enterprises. For these entities, IFRS will be required for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. The Company is currently assessing the impact of IFRS on its consolidated financial statements.

Goodwill and Intangible Assets
In November 2007, the CICA approved Handbook Section 3064, “Goodwill and Intangible Assets” which replaces the existing Handbook Sections 3062, “Goodwill and Other Intangible Assets” and 3450 “Research and Development Costs”. This standard is effective for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2009, with earlier application encouraged. The standard provides guidance on the recognition, measurement and disclosure requirements for goodwill and intangible assets. The Company is currently assessing the impact of this new accounting standard on its consolidated financial statements.

3. CAPITAL MANAGEMENT

When managing capital, the Company's objective is to ensure the entity continues as a going concern as well as to maintain optimal returns to shareholders and benefits for other stakeholders. Management adjusts the capital structure as necessary in order to support the acquisition, exploration and development of resource assets. The Board of Directors does not establish quantitative return on capital criteria for management, but rather relies on the expertise of the Company's management team to sustain the future development of the business.

The properties in which the Company currently has an interest are in the development stage. As such the Company is dependent on external financing to fund its activities. In order to carry out the planned exploration and pay for administrative costs, the Company will spend its existing working capital and raise additional amounts as needed. The Company will continue to assess new properties and seek to acquire an interest in additional properties if it feels there is sufficient geologic or economic potential and if it has adequate financial resources to do so.

Management reviews its capital management approach on an ongoing basis and believes that this approach, given the relative size of the Company, is appropriate. There were no changes in the Company's approach to capital management during the three and nine months ended September 30, 2008. Neither the Company nor its subsidiaries are subject to externally imposed capital requirements.

- 14 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

4. FINANCIAL RISK FACTORS

The Company's activities expose it to a variety of financial risks: credit risk, liquidity risk and market risk (including interest rate, foreign exchange rate and commodity price risk).

Risk management is carried out by the Company's management team with guidance from the Audit Committee under policies approved by the Board of Directors. The Board of Directors also provides regular guidance for overall risk management.

Credit risk

The Company's credit risk is primarily attributable to cash, short term investments, due from Niger Uranium Limited ("Niger") and amounts receivable. The Company has no significant concentration of credit risk arising from operations. Cash and short term investments are held with reputable financial institutions, from which management believes the risk of loss to be minimal.

Due from Niger Uranium Limited consist of costs paid on behalf of Niger by NWT. Amounts receivable consist mainly of sales tax refunds due from government authorities in Canada and cost recoveries from a company related to former management of the Company. As of September 30, 2008, due from Niger Uranium Limited and amounts receivable are in good standing. Management believes that the credit risk with respect to due from Niger Uranium Limited and amounts receivable is minimal.

Liquidity risk

The Company's approach to managing liquidity risk is to ensure that it will have sufficient liquidity to meet liabilities when due. As at September 30, 2008, the Company had a cash and short term investments balance of $8,520,884 (December 31, 2007 - $13,224,013) to settle current liabilities of $1,068,660 (December 31, 2007 - $3,940,804). All of the Company's financial liabilities have contractual maturities of less than 30 days and are subject to normal trade terms.

Market risk

(a) Interest rate risk
The Company has cash balances and no interest-bearing debt. The Company's current policy is to invest excess cash in certificates of deposits issued by its banking institutions. The Company periodically monitors the investments it makes and is satisfied with the creditworthiness of its banks.

(b) Foreign currency risk
The Company's functional and reporting currency is the Canadian dollar and major purchases are transacted in Canadian dollars. The Company funds operations and exploration costs in Mexico on a cash call basis. The Company maintains a Mexican Peso and US Dollar bank account in Mexico. Management believes the foreign exchange risk derived from currency conversions is negligible and therefore does not hedge its foreign exchange risk.

(c) Price risk
The Company is exposed to price risk with respect to commodity prices. Commodity price risk is defined as the potential adverse impact on earnings and economic value due to commodity price movements and volatilities. The Company closely monitors commodity prices as it relates to uranium to determine the appropriate course of action to be taken by the Company.

The Company's investment in Niger Uranium Limited is subject to fair value fluctuations arising from changes in the equity markets.

- 15 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

4. FINANCIAL RISK FACTORS (continued)

Sensitivity analysis

The Company has, for accounting purposes, classified its cash and short term investments as held for trading, which are measured at fair value. Due from Niger Uranium Limited and amounts receivable are classified for accounting purposes as loans and receivables, which are measured at amortized cost and are equal to fair value. Accounts payable and accrued liabilities are classified as other financial liabilities, which are measured at amortized cost and are also equal to fair value.

As of September 30, 2008, both the carrying and fair value amounts of the Company's financial instruments are approximately equivalent.

Based on management's knowledge and experience of the financial markets, the Company believes the following movements are "reasonably possible" over a nine month period:

(i) Short term investments have fixed interest rates therefore they are not subject to interest rate fluctuations.

(ii) Cash and accounts payable and accrued liabilities denominated in US Dollars and Mexican Pesos are subject to foreign currency risk. As at September 30, 2008, had the US Dollar and Mexican Peso weakened/strengthened by 5% against the Canadian dollar with all other variables held constant, the Company's loss for the nine months ended September 30, 2008 would have been approximately $5,000 higher/lower as a result of foreign exchange losses/gains on translation of non-Canadian dollar denominated financial instruments. Similarly, as at September 30, 2008, reported shareholders' equity would have been approximately $5,000 lower/higher had the US Dollar and Mexican Peso weakened/strengthened by 5% as a result of foreign exchange losses/gains on translation of non-Canadian dollar denominated financial instruments.

(iii) Commodity price risk could adversely affect the Company. In particular, the Company's future profitability and viability of development depends upon the market price of uranium. Commodity prices have fluctuated significantly in recent years. There is no assurance that, even as commercial quantities of uranium may be produced in the future, a profitable market will exist for them. As of September 30, 2008, the Company was not a producer of uranium. As a result, commodity price risk may affect the completion of future equity transactions such as equity offerings and the exercise of stock options and warrants. This may also affect the Company's liquidity and its ability to meet its ongoing obligations.

5. FIXED ASSETS

						Net Carrying						Net Carrying
						Value						Value
				Accumulated		September 30,				Accumulated		December 31,
		Cost		Amortization		2008		Cost		Amortization		2007
Computer equipment	$	60,219	$	16,558	$	43,661	$	24,005	$	10,258	$	13,747
Furniture and fixtures		10,076		2,015		8,061		8,290		829		7,461
Field equipment		761,704		258,464		503,240		761,704		114,603		647,101
Vehicle		9,786		3,339		6,447		9,786		1,468		8,318
	$	841,785	$	280,376	$	561,409	$	803,785	$	127,158	$	676,627

- 16 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

6. INTEREST IN EXPLORATION PROPERTIES AND DEFERRED EXPLORATION EXPENDITURES

On a quarterly basis, management of the Company review its mining interests to ensure deferred expenditures include only costs and projects that are eligible for capitalization. For a description of the mining interests owned by the Company, refer to Note 4 of the audited consolidated financial statements as at December 31, 2007. Specific changes to interest in exploration properties and deferred exploration expenditures that occurred from January 1, 2008 to September 30, 2008 are as follows:

(i) On January 4, 2008, 100,000 common shares valued at $59,000 were issued to Azimut Exploration Inc. ("Azimut") to comply with the definitive option agreement for the Daniel Lake property.

(ii) On July 7, 2008, Azimut and NWT concluded an agreement to terminate the option agreements previously granted by Azimut to NWT on the North Rae and Daniel Lake properties.

The termination of the option agreements is conditional upon Azimut making a cash payment within 90 days to NWT of $4,000,000, which Azimut plans to finance by way of an equity financing, and issuing of 1,100,000 common shares of Azimut to NWT. The shares to be issued to NWT will be subject to a one-year hold period commencing on the date of issuance. In the event that Azimut is unable to satisfy these conditions, the termination agreement will have no further force or effect and the current option agreements will remain valid and enforceable.

Azimut and NWT have agreed to extend to December 31, 2008 the closing date for completing the transaction (See Note 12(ii)).

7. SHARE CAPITAL

Authorized

The authorized capital of the Company consists of an unlimited number of common shares without par value.

	Shares		Amount
Balance, December 31, 2007	106,031,342	$	19,574,843
Property payment (Note 6(i))	100,000		59,000
Balance, September 30, 2008	106,131,342	$	19,633,843

8. COMMON SHARE PURCHASE WARRANTS AND BROKER WARRANTS

The following table represents a continuity of warrants for the nine months ended September 30, 2008:

									September 30,
			January 1,					September 30,	2008
		Exercise	2008					2008	Fair
Expiry Date		Price	Balance	Issued	Exercised	Expired		Balance	Value ($)
May 5, 2008	$	1.15	10,572,013	-	-	(10,572,013	)	-	-

- 17 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

9. STOCK OPTIONS

The following table represents a continuity of stock options for the nine months ended September 30, 2008:

			Weighted Average
	Number of		Exercise Price
	Stock Options		$
Balance, December 31, 2007	3,760,000		0.762
Options granted (1)(2)	4,350,000		0.150
Options expired	(80,000	)	0.470
Options cancelled	(50,000	)	0.580
Balance, September 30, 2008	7,980,000		0.430

(1) On March 11, 2008, the Company granted 50,000 stock options to an employee, pursuant to the Company' Stock Option Plan, at an exercise price of $0.30 per share. The options vest in stages over two years and expire on March 11, 2013. The fair value assigned was $12,350 and it was calculated using the Black-Scholes option pricing model with the following assumptions: dividend yield of 0%; expected volatility of 96.8%; risk-free interest rate of 2.99% and an expected life of 3.5 years.

(2) On August 15, 2008, the Company granted 4,300,000 stock options to officers, directors, and certain of its consultants, pursuant to the Company' Stock Option Plan, at an exercise price of $0.15 per share. The options vest immediately and expire on August 15, 2013. The fair value assigned was $318,200 and it was calculated using the Black-Scholes option pricing model with the following assumptions: dividend yield of 0%; expected volatility of 98%; risk-free interest rate of 3.04% and an expected life of 3.5 years.

As at September 30, 2008, the Company had the following stock options outstanding:

		Weighted
		Average
		Remaining
Number of	Exercisable	Contractual	Exercise	Expiry
Options	Options	Life (years)	Price ($)	Date
1,780,000	1,780,000	2.04	0.75	October 14, 2010
650,000	650,000	2.65	0.68	May 25, 2011
250,000	187,500	3.25	0.84	January 1, 2012
200,000	200,000	3.55	0.81	April 17, 2012
200,000	100,000	3.68	0.72	June 4, 2012
200,000	100,000	3.76	1.03	July 4, 2012
250,000	125,000	3.79	0.91	July 16, 2012
100,000	50,000	3.91	0.71	August 28, 2012
50,000	12,500	4.45	0.30	March 11, 2013
4,300,000	4,300,000	4.48	0.15	August 15, 2013
7,980,000	7,505,000	2.92	0.43

- 18 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

10. RELATED PARTY TRANSACTIONS

For the three and nine months ended September 30, 2008, the Company incurred $161,581 and $401,505, respectively (three and nine months ended September 30, 2007 - $108,402 and $306,152, respectively) for consulting and directors' fees rendered by directors and officers of the Company. The entire amount has been expensed in the statements of operations. Included in accounts payable and accrued liabilities at September 30, 2008 is $75,662 (December 31, 2007 - $10,769) owing to these related parties.

As at September 30, 2008, $576,133 (December 31, 2007 - $576,133) was receivable from Niger. The Company holds a significant interest in Niger.

Included in amounts receivable and prepaid expenses is $150,368 (December 31, 2007 - $32,239) owing from a corporation related to former management of the Company for certain expenditures paid by the Company on behalf of this corporation.

These transactions are in the normal course of operations and are measured at the exchange amount which is the consideration established and agreed to by the related parties.

11. SEGMENTED INFORMATION

The Company's principal operations are the acquisition, exploration and development of mineral properties. All exploration properties are situated in Canada, Mexico and Niger. Cash and short-term investments of $8,445,029 (December 31, 2007 - $13,219,118) are held in Canadian chartered banks. $4,895 is held in Niger (December 31, 2007 - $4,895)

		September 30,		December 31,
		2008		2007
Canada	$	13,219,992	$	17,635,333
Mexico		2,162,010		2,129,276
Niger		12,838,292		16,577,264
	$	28,220,294	$	36,341,873

Substantially all of the Company's operating expenses are incurred in Canada.

12. COMPARATIVE FIGURES

Certain comparative figures have been reclassified to conform to the current period's basis of presentation.

- 19 -

NWT URANIUM CORP.

(AN EXPLORATION STAGE COMPANY)

Notes to Interim Consolidated Financial Statements

(Expressed in Canadian Dollars)

(Unaudited)

Three and Nine Months Ended September 30, 2008

13. SUBSEQUENT EVENTS

(i) On October 15, 2008, the Company completed a non-brokered private placement for aggregate proceeds of $1,000,000. The placement was for an aggregate of 20,000,000 common shares at a subscription price of $0.05 per share.

(ii) On November 7, 2008, Azimut and the Company announced that they have mutually agreed to extend to December 31, 2008 the closing date for completing the transaction contemplated in the termination agreement in respect of the North Rae and Daniel Lake properties.

(iii) After September 30, 2008, $576,133 receivable from Niger Uranium was paid.

- 20 -