June 23, 2008 Universal Uranium Engages North Rim Exploration Ltd. For Study Of Potash Potential Of St. George'S Bay Mineral Property
Vancouver, British Columbia, June 23, 2008-- Universal Uranium Ltd. (TSX-V: UUL) is pleased to announce that it has contracted North Rim Exploration Ltd. (North Rim) of Saskatoon, Saskatchewan to provide an assessment as to the potential for discovering potash on the company's newly acquired claims in the St. Georges Bay Basin of Western Newfoundland.
North Rim Exploration Ltd. is a geosciences and engineering consulting firm that has provided geoscience support and service to the potash exploration and mining industry in western Canada since 1989. North Rim Exploration has provided its expertise to companies mining and/or seeking to mine potash in Saskatchewan and Manitoba, including Potash Corporation of Saskatchewan, Agrium Inc., Anglo Potash Inc., BHP Billiton, Potash One, Potash North and others. The company has undertaken over 80 studies in the area of potash geology and exploration during this period.
North Rim will begin its study of the potash potential of the St. George's Bay property immediately and will have it completed by late July 2008. The work will consist of compiling and evaluating all available historical archive data, determining the likelihood of encountering potash within the property claims, a site visit, and a proposed exploration program, should this be warranted, which will include recommendations as to further geological and geophysical studies.
Reporting of the results of the preliminary assessment will follow the Form F-1 portion of the National Instrument 43-101 technical report and will be written by Mr. Stephen P. Halabura, President and CEO of NREL and an Independent Qualified Person (IQP) as defined by National Instrument 43-101.
Ron Atlas, President and CEO of Universal Uranium Ltd. states, "The Company is looking forward to working with North Rim Exploration Ltd. to further project development on the newly acquired property. The company feels the project has significant potential and looks forward to working with a company with extensive expertise and success in the potash industry."
Universal Uranium Ltd. (TSX-V:UUL) is a publicly held Canadian exploration company focused on acquiring, exploring and developing mineral properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
ON BEHALF OF THE BOARD: For further information contact:
(signed) "Ronald Atlas," President & Chairman of the Board
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
May 23, 2008 Universal Uranium Enters into Agreement to Sell Central Mineral Belt Properties to Crosshair Exploration
News Release 08-14
Vancouver, British Columbia, May 23, 2008 - Universal Uranium Ltd. ("Universal") (TSX-V: UUL) is pleased to announce that it has entered into an agreement with Crosshair Exploration and Mining Corp. (AMEX: CXZ) (TSX: CXX) under which Crosshair will acquire all of Universal's interest in the Central Mineral Belt (CMB) of Labrador, which totals approximately 4,737 claims. Universal and its 40% partner Silver Spruce Resources issued news releases on April 29, 2008, disclosing that Scott Wilson Roscoe Postle Associates had prepared a NI 43-101 Mineral Resource Estimate for the Two Time Zone on the Property estimating an indicated resource of 2.33 million pounds of uranium (U3O8) and an additional inferred resource of 3.73 million pounds of U3O8 (see below for tonnage and grade details).
"This transaction brings great value to Universal shareholders." says Ron Atlas, CEO of Universal. "We feel that this acquisition expands our shareholders position in the Central Mineral Belt Labrador. Our shareholders will now have an interest in the only two mineral resources in the western portion of the CMB, the Two Time Zone and the Crosshair C Zone. In addition, the cash infusion into the company will allow us to develop our newly acquired potash property and our Lisbon Valley uranium project."
Closing is expected to be completed on June 16, 2008 or such other date as may be mutually agreed, but no later than July 31, 2008. Closing is conditional upon both Universal and Crosshair obtaining regulatory approval to the transaction and to the satisfactory due diligence review by each of Universal and Crosshair.
Acquisition Details
As consideration for Universal's interest in the Property, Crosshair will pay to Universal CDN$500,000 and issue 10,000,000 common shares and 7,500,000 warrants. Each warrant will entitle Universal to purchase an additional common share in the capital of Crosshair at CDN$1.00 per share for a period of three years from Closing subject to early expiry in the event that the average trading price of Crosshair's common shares exceeds CDN$2.00 for a period of 20 days while the warrants are outstanding. The securities issued to Universal will be subject to escrow for two years following the Closing, to be released in equal tranches in three month intervals. Universal will grant Crosshair's management a voting proxy over any Crosshair shares it holds or acquires on exercise of the warrants while such shares are in escrow. These escrow and voting provisions will expire if Universal distributes the securities to its shareholders. Universal will retain a 2% net smelter return royalty on its 60% interest in the Property, 0.5% of which may be purchased by Crosshair for CDN$1,000,000.
Crosshair will also purchase 4,444,444 units of Universal's non-brokered private placement of 7,000,000 units announced on May 20, 2008 at a price of CDN$0.45 per unit. Each unit will consist of one common share of Universal and one share purchase warrant entitling Crosshair to purchase an additional common share of Universal at a price of CDN$0.65 per Universal Warrant for a period of 24 months. Closing of the private placement is not conditional upon closing of the acquisition of the claims.
Property Details
The Two Time Zone is the most advanced prospect within Universal's 1,184 square kilometre land holdings in the CMB. This Zone, and the majority of Universal's ground, is located north-west of Crosshair's current CMB Project. The current land position map is posted on the Company website at: www.universaluranium.com. The Two Time Zone falls outside of Labrador Inuit Lands and is not directly impacted by the Nunatsiavut Government's recent decision to place a three year moratorium on uranium mining within their self-governed Labrador Inuit Lands. This moratorium was put in place in order to allow the Nunatsiavut Government time to establish a lands administration system and to develop an Environmental Assessment Act and environmental protection legislation.
The Two Time Zone was first discovered in September 2006 following an airborne radiometric survey. The Zone has a current strike length of 475 metres (m) and remains open along strike and to depth. Mineralization at the Two Time Zone is hosted in an altered, brecciated and fractured, felsic intrusive, which carries extensive hematite, chlorite, carbonate and albite alteration. The zone is similar to large, iron oxide copper gold (IOCG) style, uranium rich, hematite breccia deposits such as the Olympic Dam deposit in Australia, the world's largest uranium deposit.
Significant uranium drill intercepts include:
0.052% U3O8 over 107 m including
0.11% U3O8 over 30 m in CMB-07-6
0.042% U3O8 over 109 m including
0.10% U3O8 over 32 m in CMB-07-14
The Two Time Zone drill hole database includes 41 diamond holes totaling 11,254 meteres, plus five surface trenches. The NI 43-101 Mineral Resources are contained within eight separate zones. At a cut-off grade of 0.03% U3O8, indicated resources are estimated to total 1.82 million tonnes grading 0.058% U3O8 containing 2.33 million pounds U3O8. Inferred resources are estimated to total 3.16 million tonnes grading 0.053% U3O8 containing 3.73 million pounds U3O8. This estimate is based on drill hole data available as of February 4, 2008.
In addition to the Two Time Zone, the airborne radiometric survey identified many other high priority targets, several of which have been followed up by prospecting. One such zone is the Firestone Showing, which is located 8 km southeast of the Two Time Zone. This mineralized area consists of a 250 m by 600 m section of strong, pervasively altered granitic rocks, which gave off-scale scintillometer readings.
Universal Uranium Ltd. (TSX-V:UUL) is a publicly held Canadian exploration company focused on acquiring, exploring and developing mineral properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
ON BEHALF OF THE BOARD: For further information contact:
(signed) "Ronald Atlas," President & Chairman of the Board
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
May 20, 2008 Universal Uranium Ltd Acquires Strategic Potash Property and Announces $3.15 Million Financing
News Release 08-13
Vancouver, British Columbia, May 20, 2008 - Universal Uranium Ltd. (the "Company") (TSX-V: UUL) is pleased to announce that it has entered into an agreement, subject to regulatory approval, to acquire a 100% interest in 816 claims totaling 204 sq km (the "Property") located in the St.George's Bay Basin in western Newfoundland, from Alpha Uranium Resources Inc.
The St.George's Basin is geologically analogous to the Moncton subbasin in New Brunswick, which is Canada's second major potash mining district. The Property is bordering properties currently held by Altius Resources Inc., Sprott Resource Corp. and Vulcan Minerals (view map at www.universaluranium.com).
Previous drilling in several areas of the St. George's Basin have revealed large thicknesses of evaporitic rocks hosting significant beds of potash and carnallite. Universal plans to compile and re-interpret the historical data on the property in preparation for undertaking additional geophysical surveys on the newly acquired ground. Subsequent drilling will begin on the most favorable targets during the upcoming field season.
Under the terms of the Agreement, the Company will acquire a 100% interest in the Property by paying on closing; (i) CDN$40,000 in cash and, (ii) 500,000 previously unissued common shares of the company. The deemed price of these shares will be the closing price of the company's shares on the day of this news release. A finder's fee will apply in this transaction.
Ron Atlas, President and CEO of Universal Uranium, states: "Universal has, up till now, acquired and developed only uranium properties, and will continue to develop those assets. However, we feel that the reasons for acquiring such a strategic potash property, were simply too compelling."
In conjunction with this acquisition, the Company has arranged a non-brokered private placement consisting of 7,000,000 units at $0.45, for total proceeds of $3.15 million. Each unit consists of one common share and one whole transferable share purchase warrant. Each warrant is convertible into one common share at a price of $0.65 for a period of twenty-four (24) months. The proceeds from this financing will be used for working capital, development of the newly acquired property and development of our existing uranium projects. A finder's fee will apply in this private placement in accordance with the policies of the TSX Venture Exchange. The financing is subject to regulatory acceptance.
Universal Uranium Ltd. (TSX-V:UUL) is a publicly held Canadian exploration company focused on acquiring, exploring and developing mineral properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
ON BEHALF OF THE BOARD:
(signed) "Ronald Atlas,"
President & Chairman of the Board
For further information contact:
Taylor Little, Investor Relations
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
April 29, 2008 Universal Uranium Ltd. And Silver Spruce Resources Inc. Announce An Initial Mineral Resource Estimate At The Two Time Zone
Highlights
- Indicated Mineral Resources of 2.33 M lbs U3O8; Inferred Mineral Resources of 3.73 M lbs U3O8
- Two Time Zone is open at depth and along strike to the south
April 29, 2008 - Vancouver, BC / Bridgewater, NS - Universal Uranium Ltd. (TSX: UUL) and Silver Spruce Resources Inc. (TSX: SSE) are pleased to announce an initial Mineral Resource estimate for the Two Time Zone on the CMB NW property in the northwestern part of the Central Mineral Belt of Labrador.
Scott Wilson Roscoe Postle Associates (Scott Wilson RPA) has prepared a Mineral Resource estimate for the Two Time Zone using drill hole data available as of February 4, 2008. The Two Time drill hole database includes 40 diamond core holes (holes 1-23 and 25-41) totaling 10,928 metres, plus five surface trenches.
The Mineral Resources are contained within eight zones, D101 though D108. At a cut-off grade of 0.03% U3O8, Indicated Mineral Resources are estimated to total 1.82 million tonnes grading 0.058% U3O8 containing 2.33 million pounds U3O8. Inferred Mineral Resources are estimated to total 3.16 million tonnes grading 0.053% U3O8 containing 3.73 million pounds U3O8.
A set of cross sections and plan views were interpreted to construct three-dimensional wireframe models at a cut-off grade of 0.03% U3O8, and a minimum true thickness of four metres. These criteria reflect a potential underground bulk-mining scenario. High U3O8 grades were cut to 0.3% U3O8 prior to compositing to two metres. Variogram parameters were interpreted from two-metre composited assay values. Block model U3O8 grades within the wireframe models were estimated by ordinary kriging. Classification into the Indicated and Inferred categories was guided by the drill hole density, interpreted variogram ranges, and the apparent continuity of the mineralized zones. See Table 1, following, for details.
The Two Time Zone was discovered during ground follow up of a regional radiometric survey in the fall of 2006 and was first drilled in December 2006. Drilling continued through 2007 and the resource definition program was completed on December 15, 2007. The Two Time Zone, like most of the CMB NW property, lies outside of lands administered by the Nunatsiavut government that are subject to the recently announced moratorium on uranium development.
"We have come a long way since the discovery of the Two Time uranium zone in the fall of 2006, and now have the first "newly discovered" resource to be defined in the Central Mineral Belt since the 1970s," stated Lloyd Hillier, President and CEO of Silver Spruce. "These resources establish Universal Uranium and Silver Spruce as companies with a significant uranium deposit at the Two Time Zone. We look forward to increasing the size of the deposit and making further discoveries as we continue our follow up exploration."
Infill diamond drilling and drilling to test the strike extensions and the down plunge extension of the Two Time Zone are planned for the second quarter of 2008. A second drill will focus on the Firestone Zone (see news release dated October 17, 2007) and other regional targets that have been generated on the CMB NW property.
Table 1 summarizes the Mineral Resources estimated by Scott Wilson RPA. A table giving the significant results for the infill drilling for holes CMB-07-25 to 41 and the plan maps and sections for the drilling on the Two Time Zone can be viewed on the Silver Spruce and Universal Uranium websites: www.silverspruceresources.com and www.universaluranium.com.
Table 1
INDICATED MINERAL RESOURCES
Tonnage
Grade
Contained Metal
LENS
(tonnes x 1,000)
(% U3O8)
(lbs U3O8 x 1,000)
D103
1,010
0.070
1,560
D101
500
0.039
430
D102
310
0.049
340
TOTAL
1,820
0.058
2,330
INFERRED MINERAL RESOURCES
Tonnage
Grade
Contained Metal
LENS
(tonnes x 1,000)
(% U3O8)
(lbs U3O8 x 1,000)
D103
1,090
0.062
1,480
D104
180
0.035
140
D105
1,160
0.049
1,240
D106
120
0.045
120
D107
120
0.041
110
D108
490
0.058
640
TOTAL
3,160
0.053
3,730
Notes:
CIM definitions were followed for mineral resources.
The cut-off grade of 0.03% U3O8 was estimated using a U3O8 price of US$65/lb and assumed operating costs.
Grade-shell wireframes at 0.03% U3O8 and a minimum true thickness of four metres were used to constrain the grade interpolation.
High U3O8 grades were cut to 0.3% prior to compositing to two-metre lengths.
Several blocks less than 0.03% U3O8 were included for continuity or to expand the lenses to the four metre minimum true thickness.
All uranium analyses are performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique (DNC), which gives accurate results for samples carrying up to 1.0% uranium. In addition, samples are analysed using an ICP technique that gives good results for most other elements, including Thorium. A quality assurance/quality control (QA/QC) program, described on the companies' websites, has been implemented by the Silver Spruce/Universal Uranium joint venture to increase confidence in the results generated.
ABOUT THE CMBNW PROPERTY
The CMB NW block is part of the Universal Uranium (UUL)/Silver Spruce (SSE) CMB/Seal Lake joint venture previously announced. The property is held 60% by UUL and 40% by SSE.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior exploration company primarily focused on uranium in the Central Mineral Belt (CMB) of Labrador, Canada. With interests in more than 11,800 claims totaling approximately 2700 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. Strong financial backing and expertise in uranium exploration make Silver Spruce a leading uranium explorer in Canada.
ABOUT UNIVERSAL URANIUM
Universal Uranium Ltd. (TSXV: UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
This release has been approved by David Ross, P.Geo., Senior Geologist with Scott Wilson RPA and Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., both Qualified Persons (QPs) as defined in National Instrument 43-101.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The company seeks Safe Harbour.
April 18, 2008 Universal Uranium Terminates Option Agreement at Artillery Peak
News Release 08-11
Vancouver, British Columbia, April 18th, 2008 - Universal Uranium Ltd. (the "Company") (TSX-V: UUL) has terminated the option agreement dated February 10, 2006 with Artillery Peak Uranium Corp. Pursuant to the terms of the Agreement, the Company had the option to earn and acquire a 100% interest in Artillery Peak Uranium Corp's 86 lode mining claims totalling 1776.85 acres located 186 kilometres northwest of Phoenix, Arizona.
The termination of the Agreement is the result of a review of all available historic and company generated drill results. In general, the holes drilled to twin previous operator's holes returned similar results and confirmed the potential for the non NI 43-101 compliant historical resource of 1.7 million pounds of U3O8 . Holes drilled to expand the resource either a) failed to intersect anomalous or ore grade material or b) intersected or postulated from geology intersected that the host unit for uranium mineralization is too deep for potential economic extraction. Therefore the potential to expand the size of the deposit was severely downgraded and the option was terminated.
Universal Uranium plans to focus on its properties located in Labrador and Utah. The Company has a significant discovery in Labrador and has a resource calculation underway. The company will focus on the expansion of this discovery zone and the drilling of other high priority targets in the Central Mineral Belt, Labrador. The Company will also focus on its Lisbon Valley Project in Moab, Utah which lies within a district that was home to 17 previous mines producing over 103 million pounds of U308 with an average grade of 0.41%.
The company is currently in the process of reviewing other high quality Canadian uranium properties in order to expand the company's portfolio and increase shareholder value.
Universal Uranium Ltd. (TSX-V:UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
ON BEHALF OF THE BOARD:
(signed) "Ronald Atlas," President & Chairman of the Board
For further information contact:
Taylor Little, Investor Relations
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
April 09, 2008 Uranium Moratorium Does Not Affect Universal'S Two Time Zone Or Other High Priority Targets
Vancouver, British Columbia, April 9, 2008-- The legislation passed yesterday by the Nunatsiavut government imposing a three year moratorium on uranium mining in Labrador does not affect Universal Uranium Ltd.'s principal asset, the Two Time Zone, or the company's other high priority targets.
Universal Uranium Ltd. currently holds 4,941 claims (approx. 1,200 sq. km) in ten separate claim blocks in the Central Mineral Belt with its joint venture partner Silver Spruce Resources. Of these 4,941 claims, 82 per cent fall outside of the Inuit Lands (LIL) and are therefore not affected by the moratorium. Most importantly, the company's discovery zone, the Two Time Zone, which is currently undergoing a Resource Calculation, is not a part of these lands.
Ron Atlas, President of Universal Uranium Ltd, states: "Universal's key asset, the Two Time Zone, and the majority of our other high priority targets lie outside the Inuit Lands and are therefore open for exploration and development. The company feels confident going forward as Aurora, Crosshair and Bayswater, as noted in their most recent news releases, will continue with 2008 exploration plans and continue proposed drilling."
The Nunatsiavut Government Lands and Resource Minister, William Barbour, stated: "We are prepared to work with any company wanting to conduct exploration within our territory. During the course of the next three years, we will build our human resources capacity to effectively govern our land and resources and effectively participate in environmental protection and management together with industry and other governments." This quote indicates that the government is willing to work with the companies and that a permanent ban is not their intention but rather temporary in order to establish the structures necessary for the government to host large-scale development projects.
Universal Uranium Ltd. (TSX-V:UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
ON BEHALF OF THE BOARD:
(signed) "Ronald Atlas," President &
Chairman of the Board
For further information contact:
Taylor Little, Investor Relations
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company seeks Safe Harbour.
March 25, 2008 Universal Uranium Ltd. Elects Not To Option Properties From Capella Resources Ltd.
Vancouver, British Columbia, March 25, 2008 -- Universal Uranium Ltd. (the "Company") (TSX-V: UUL) has elected not to commit to certain expenditures (the "Expenditures") required to maintain its interest under the option agreement dated August 1, 2006 between Tripple Uranium Resources Inc. ("TUR"), a wholly-owned subsidiary of Capella Resources Ltd, and the Company (the "Agreement"). Pursuant to the terms of the Agreement, the Company had the option to earn and acquire a 60% interest in TUR's 2,727 staked mineral claims located in the Central Mineral Belt of Newfoundland and Labrador (the "Claims") provided that among other things, the Expenditures on the Claims were made by the Company. As a result of the Company's election not to pay the Expenditures, TUR and the Company have entered into an agreement formally terminating the Agreement.
Universal Uranium Ltd. (TSX-V:UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
ON BEHALF OF THE BOARD:
(signed) "Ronald Atlas,"
President & Chairman of the Board
For further information contact:
Taylor Little, Investor Relations
Telephone: (604) 662-3903
Email:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
March 20, 2008 Non-Brokered Financing Closes
Shares Issued and Outstanding: 44,115,069
Universal Uranium Ltd. has closed a non-brokered private placement consisting of 2.3 million units at a price of 35 cents per unit for gross proceeds of $805,000.
Each unit consists of one common share and one-half of a share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the company at a price of 40 cents in the first year and 45 cents in the second year.
The company paid a cash commission equal to 5 per cent of the gross proceeds. In addition, the company issued finder's options entitling the holder to purchase up to 87,500 shares at a price of 40 cents in the first year and 45 cents in the second year.
All securities issued by the company pursuant to this private placement are subject to a four-month hold period expiring on July 13, 2008. The net proceeds of the private placement will be added to working capital.
March 12, 2008 Stock Options Granted
Vancouver, British Columbia, March 12, 2008 -- Universal Uranium Ltd. (the "Company") announces that, pursuant to TSX Venture Exchange (the "Exchange") policies and the Company's rolling Stock Option Plan approved by shareholders at the annual general meeting of the Company held on August 16, 2007, incentive stock options in the aggregate amount of 110,000 shares have been granted to a director and consultant of the Company at a price of $0.40 per share. The options are exercisable for a period of five years, ending on March 12, 2013, and are subject to the requirements of the Exchange.
ON BEHALF OF THE BOARD:
(signed) "Ronald Atlas,"
Chairman of the Board & President
For further information contact:
Taylor Little, Investor Relations
Telephone: (604) 662-3903
Email: tlittle@universaluranium.com
Website: www.universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company seeks Safe Harbour.
February 27, 2008 Universal Uranium Increases Non-Brokered Financing
Vancouver, British Columbia, February 27, 2008 --Universal Uranium Ltd. (the "Company") announces an amendment to its private placement announced on February 25, 2008. The Company will be increasing its financing, and will be proceeding with a private placement of up to 2.3 million units ("Units") at a price of $0.35 per Unit for gross proceeds of $805,000.
All other terms and conditions previously announced remain unchanged. Each Unit will consist of one common share and one-half of a share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.40 in the first year and $0.45 in the second year.
The private placement is subject to TSX Venture Exchange acceptance and required regulatory approvals. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.
The net proceeds of the private placement will be added to working capital.
A finder's fee will apply to this transaction in the form of 5% in cash and 5% in warrants, in accordance with the policies of the TSX Venture Exchange (the "Exchange").
The Company also wishes to record a correction to its press release announcing the appointment of Richard R. Walters as an additional director of the Company. From 1994 to 2000, Mr. Walters was a director, COO and President of Yamana Resources Inc. (now Yamana Gold Inc.), not CEO as previously reported in its press release of February 20, 2008.
Universal Uranium Ltd. (TSXV:UUL) is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favorable geo-political climates. The Company is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
ON BEHALF OF THE BOARD: (signed) "Ronald Atlas,"
Chairman of the Board
For further information contact:
Taylor Little, Investor Relations
Telephone: (604) 662-3903
Email: tlittle@universaluranium.com
Website: www.universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
