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| |   July 06, 2010
Name Change
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| | Vancouver, British Columbia, July 6, 2010 -- Universal Uranium Ltd. (TSX-V: UUL) (the "Company") announces that effective Wednesday, July 7, 2010, the name of the Company will change to "Expedition Mining Inc.", a name which the Company believes more clearly reflects the focus and diverse nature of the Company's current business.
Effective at the opening on July 7, 2010, the common shares of the Company will commence trading on the TSX Venture Exchange under the new name "Expedition Mining Inc." (CUSIP number 30212V102) and trading symbol "EXU".
The Company 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:
William Galine
Executive Vice President
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
| |
| | June 14, 2010
Universal Uranium Proposes Name Change
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| | Vancouver, British Columbia, June 14, 2010 - Universal Uranium Ltd. (TSX-V: UUL) (the "Company") announced that as the Company no longer holds any interest in a uranium property, other than an NSR to a property that the Company sold in 2008, and the current name of the Company no longer reflects the focus or diverse nature of the Company's current business, it is proposing a name change from Universal Uranium Ltd. to "Expedition Mining Inc." The name change is subject to TSX Venture Exchange (the "Exchange") policies and approval.
In addition the Company announced that pursuant to Exchange policies and the Company's rolling Stock Option Plan approved by shareholders at the annual general meeting of the Company held on April 29, 2009, incentive stock options in the aggregate amount of 800,000 shares have been granted to directors and officers of the Company at a price of $0.10 per share. The options are exercisable for a period of five years, ending on June 10, 2015, and are subject to the requirements of the Exchange.
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:
William Galine
Executive Vice President
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. |
| |
| | May 11, 2010
Universal Appoints Bert Jeffries To Board Of Directors
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| | Vancouver, British Columbia, May 11, 2010 - Universal Uranium Ltd. (TSX-V: UUL) (the "Company") is pleased to announce that Mr. Bert Jeffries has joined the board of directors.
Mr. Jeffries is a graduate of the Mackay School of Mines, University of Nevada-Reno, with a Bachelor of Science degree in geology. He is a registered professional geologist with over 30 years of experience across the mining spectrum, ranging from exploration to project and construction management. As part of the original Cordex exploration syndicate in Nevada, Mr. Jeffries contributed to multiple discoveries including the Pinson, Florida Canyon, Sterling and Prebble gold mines. He also worked as a consulting geologist, managing exploration that resulted in the discovery of the Beartrack gold mine in Idaho.
In the area of mine-construction management, Mr. Jeffries has worked extensively for major and mid-tier miners, including Barrick Gold, Western Goldfields and Kinross Gold. He was a member of the Barrick team that developed and constructed the Pierina gold mine in Peru, the Bulyanhulu gold mine in Tanzania and the Veladero gold mine in Argentina. During this period, he also worked in Chile as the project manager for the El Indio and Tambo gold mine closure project, and worked on Barrick's Pascua Lama project in Chile-Argentina and the Lagunas Norte project in Peru. More recently, Mr. Jeffries managed construction for Western Goldfields' Mesquite gold mine in Southern California and Kinross Gold's Fort Knox gold mine in Alaska.
The Company's president and chairman, Ronald Atlas, said, "We are extremely pleased to attract Bert Jeffries, vice-president of exploration and director of Aldrin Resource Corp, to serve on Universal's board of directors. His extensive experience in the mining sector will be both beneficial with respect to our Yukon property, as well as, our Nevada gold project. Mr. Jeffries has worked for the world's leading gold companies and with his knowledge and contacts, he will add significant value to our shareholders."
The Company would also like to announce the resignation of Mr. Richard Walters as a director. The Company wishes to thank Mr. Walters for his outstanding contributions of the past two years of service. Mr. Walters will remain as a consultant to the Company.
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:
William Galine
Executive Vice President
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour. |
| |
| | May 04, 2010
Universal Uranium JV's Property Next to White Gold in Yukon
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| | Vancouver, British Columbia, May 4, 2010 - Universal Uranium Ltd. (TSX VENTURE:UUL) (the "Company") is pleased to announce the completion of an option and joint venture agreement with Aldrin Resource Corp., whereby Universal can earn a 50% interest in Ryanwood Exploration's Brew property.
The Brew property is located in the White Gold District, Yukon Territory and is comprised of 168 quartz mining claims covering an area of 33 square kilometres. The project is 100 kilometres south of Dawson City and 20 kilometres east of Underworld Resources (Kinross) White Gold discovery.
The Brew property was originally staked by Shawn Ryan of Ryanwood Exploration. It was optioned in June, 2009 to Aldrin who has the right to acquire a 100% interest over a four year period by paying Ryanwood $425,000, incurring $1.5 million in expenditures and issuing 1,250,000 Aldrin shares to Ryanwood.
Universal may acquire its 50% interest in the Brew property over a three year period by paying $125,000 to Aldrin, paying $300,000 to Ryanwood, incurring expenditures of $1.35 million and paying Aldrin 50% of the Aldrin shares issuable by Aldrin to Ryanwood. The payments in respect of the Aldrin shares are capped at $156,250 for 2011 and at $187,500 for 2012 and 2013 and these payments may be paid either in cash or by the issuance of Universal shares at Universal's option. If Universal chooses to issue Universal shares, a 10% premium will be paid.
Preliminary soil sampling by Ryanwood has identified anomalous gold values that appear to be related to a major regional northwest trending structure Ryanwood has also completed a preliminary ground magnetic survey over the area and the results indicate additional work is warranted on the claim block.
Preliminary exploration completed on the Brew property by Ryanwood is reconnaissance level work. Work planned by Universal in 2010 includes expanding the soil survey, completing an extensive trench excavation program to better expose the structural setting and completing detailed sampling of the soil anomalies. In addition to the geochemical sampling, Universal intends to complete geological mapping and expand the ground magnetiometer survey.
Ron Atlas, President and Chairman of the Board of Universal stated "We are very pleased and excited to be afforded this opportunity to work with Shawn Ryan and Aldrin Resource Corp. in an area as exciting as the Yukon and to be in such close proximity to the White Gold discovery. It is also exciting to be in such close proximity to where Kaminak will be drilling this summer. We have been looking for exceptional opportunities since our major sale of the uranium prospect, the Two Time Zone in Labrador, to Crosshair Exploration. Our experience in the timely development and sales of excellent prospects should help us immensely in this project. We are encouraged to become involved in the Brew property as preliminary data indicate similar key geological features are present on the Brew that were important guides for targeting drilling Underworld's White Gold property"
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:
William Galine
Executive Vice President
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour. |
| |
| | April 28, 2010
Universal Uranium and Crosshair Exploration Settle Action
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| | Vancouver, British Columbia, April 28, 2010 -- Universal Uranium Ltd. (TSX: V- UUL) (the "Company") is pleased to announce that the action commenced by Crosshair Exploration & Mining Corp. ("Crosshair") in the B.C. Supreme Court in April, 2009 has been settled. The Crosshair action sought rescission of two agreements, one being a property purchase agreement under which Crosshair acquired Universal's mineral claims in the Central Mineral Belt in Labrador, and the other being a private placement agreement under which Crosshair purchased 2,222,222 units of the Company, each consisting of one common share and one common share purchase warrant. At the time the Crosshair action was commenced, Crosshair also caused the escrow agent to halt the release of Crosshair shares and warrants that formed part of the consideration for Universal's Labrador mineral claims and that had been placed in escrow pursuant to the property purchase agreement.
In May, 2009, Universal filed a Statement of Defence and Counterclaim denying that Crosshair was entitled to rescission of the two agreements and asserting that the Crosshair action was an abuse of process. The Statement of Defence and Counterclaim also sought damages for the loss of the Company's opportunity to market the Crosshair shares to which Universal was entitled.
In August, 2009, Universal applied for an injunction directing the escrow agent to release the Crosshair shares and warrants from escrow. In a judgement rendered on March 16, 2010, the B.C. Supreme Court granted the injunction sought by Universal and directed the escrow agent to release to Universal the shares and warrants due to the Company under the escrow agreement.
The settlement agreement requires the parties to file a consent dismissal order dismissing both the Crosshair claim and Universal's counterclaim on a without costs basis. The settlement agreement also provides for a release by each party of all claims and causes of action it may have against the other party resulting from any matters existing up to the present time with respect to the action.
The settlement agreement further provides for Crosshair to enter into a voting trust agreement pursuant to which Crosshair will, for a period of 36 months, either abstain from voting its shares in Universal at shareholder meetings or will vote its shares in favour of the proposals of Universal's management. As at the date of the settlement, Crosshair held 2,222,222 common shares of the Company and 2,222,222 warrants to purchase common shares of the Company.
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:
William Galine
Executive Vice President
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour. |
| |
| | March 17, 2010
Court Orders Escrow Release in Crosshair Action
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| | News Release 10-01
Vancouver, British Columbia, March 17, 2010 -- Universal Uranium Ltd. (the "Company") announced that the B.C. Supreme Court has handed down a judgment granting the Company's application for an injunction ordering the release from escrow of shares and warrants of Crosshair Exploration & Mining Corp. ("Crosshair") due to the Company under an escrow agreement between the Company and Crosshair.
The judgment relates to an action commenced by Crosshair in April, 2009. The Crosshair action seeks rescission of two agreements, one being a property purchase agreement under which Crosshair acquired the Company's mineral claims in the central mineral belt in Labrador, and the other being a private placement agreement under which Crosshair purchased units of the Company. At the time the Crosshair action was commenced, Crosshair caused the escrow agent to halt the release of Crosshair shares and warrants that formed part of the consideration for the Company's Labrador mineral claims and that had been placed in escrow pursuant to the property purchase agreement.
In May, 2009, the Company filed a Statement of Defence and Counterclaim denying that Crosshair was entitled to rescission of the property purchase and private placement agreements and asserting that the Crosshair action was an abuse of process. The Statement of Defence and Counterclaim also seeks damages for the loss of the Company's opportunity to market the Crosshair shares to which the Company is entitled.
In August, 2009, the Company applied for an injunction directing the escrow agent to release the Crosshair shares and warrants from escrow and restraining Crosshair from further interfering with the release of those shares and warrants pending trial of the Crosshair action. Crosshair brought a cross-application for an injunction restraining the escrow agent from releasing the Crosshair shares and warrants to the Company pending the trial. The two applications were heard together on December 3, 2009.
In its March 16, 2010 judgment, the Court granted the injunction sought by the Company. The Court also dismissed Crosshair's application and directed the escrow agent to release to the Company the shares and warrants due to the Company under the escrow agreement. There are currently 5,715,000 Crosshair shares and 4,284,000 Crosshair warrants that must be released to the Company by the escrow agent pursuant to the judgment.
A trial of the action is scheduled for September 20, 2010. The Company considers the Crosshair action to be without merit and will continue to vigorously defend the Crosshair action and pursue the Company's counterclaim.
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:
William Galine
Executive Vice President
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company seeks Safe Harbour. |
| |
| | October 22, 2009
Universal Intersects Gold In 13 Of 14 Holes And Stakes Additional 2780 Acres
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| | Vancouver, British Columbia, October 22, 2009 -- Universal Uranium Ltd. (TSX-V: UUL) (the "Company") is pleased to report the remaining drill results for the first phase drill program completed on its Tact project. The project is located in north-central Nevada within the Battle Mountain-Eureka Trend. Geologic mapping, surface sampling and drilling have confirmed the presence of a large epithermal system located within the boundaries of the Company's claim position.
Mineralization is localized along faults cutting quartz monzonite intrusive and Pennsylvanian aged sediments. The mineralized zones are characterized by quartz veining with associated clay gouge, carbonate and iron oxide alteration. The altered zones contain disseminated gold mineralization with moderate-to-deep oxidation. The above attributes lend themselves to low cost open pit, heap leach technology utilized by low grade gold deposits in the vicinity.
Recent work and historic data have defined at least nine targets within the 1780 acre property. Information was released on October 1, 2009 for the first four holes of the drill program. These holes tested the Southwest target in Section 2, an area defined by a series of mineralized low-angle faults. The remainder of the drill holes tested three additional targets.
The Company is encouraged with the results of the drilling to date, noting that all holes drilled except for T09-10 encountered significant gold in one or more intervals. Hole T09-10 was abandoned in alluvial fill before reaching bedrock.
Holes 5, 6 and 14 probed under a northerly trending gold-in-soil anomaly identified as the Southeast target. Holes 7, 8, 9, 11 and 12 investigated the Central target defined by several gold anomalies collected from soil and road cuts. Hole 10 tested the Southeast target in Section 12, but was abandoned before it encountered bedrock. Hole 13 tested the Northwest target defined by geophysics.
The following table summarizes the latest results of the drilling:
HOLE
NUMBER |
FROM
METERS |
TO
METERS |
INTERVAL
METERS |
GOLD
GRAMS/TON |
INTERVAL
FEET |
GOLD
OUNCES/TON |
| |
|
|
|
|
|
|
| T09-5 |
109.7 |
111.2 |
1.5 |
0.21 |
5 |
0.006 |
| |
118.9 |
125.0 |
6.1 |
0.20 |
20 |
0.006 |
| T09-6 |
50.3 |
54.9 |
4.6 |
0.33 |
15 |
0.010 |
| |
73.1 |
74.6 |
1.5 |
0.33 |
5 |
0.010 |
| T09-7 |
0.0 |
1.5 |
1.5 |
0.40 |
5 |
0.011 |
| |
6.1 |
7.6 |
1.5 |
0.46 |
5 |
0.013 |
| |
59.4 |
62.5 |
3.1 |
0.78 |
10 |
0.023 |
| |
147.8 |
150.9 |
3.1 |
0.61 |
10 |
0.018 |
| T09-8 |
18.3 |
21.3 |
3.1 |
0.31 |
10 |
0.009 |
| |
44.2 |
45.7 |
1.5 |
0.57 |
5 |
0.017 |
| |
97.5 |
99.0 |
1.5 |
0.45 |
5 |
0.013 |
| T09-9 |
4.5 |
7.6 |
3.1 |
0.36 |
10 |
0.010 |
| |
109.7 |
118.9 |
9.1 |
0.42 |
30 |
0.012 |
| Includes |
112.8 |
117.4 |
4.6 |
0.66 |
15 |
0.020 |
| T09-10 |
NSV |
|
|
|
|
|
| T09-11 |
16.8 |
24.4 |
7.6 |
0.32 |
25 |
0.009 |
| includes |
18.3 |
19.8 |
1.5 |
0.90 |
5 |
0.026 |
| |
36.6 |
38.1 |
1.5 |
0.46 |
5 |
0.013 |
| T09-12 |
24.4 |
25.9 |
1.5 |
0.47 |
5 |
0.014 |
| |
32.0 |
36.6 |
4.6 |
0.65 |
15 |
0.019 |
| |
53.3 |
59.4 |
6.1 |
0.37 |
20 |
0.011 |
| |
71.6 |
74.7 |
4.6 |
0.52 |
10 |
0.015 |
| T09-13 |
67.1 |
71.7 |
4.6 |
0.19 |
15 |
0.005 |
| T09-14 |
44.2 |
45.7 |
1.5 |
0.45 |
5 |
0.013 |
During drilling additional ground was obtained by locating unpatented mining claims on available land to the south of the property. A further 2780 acres were acquired bringing the total acreage currently held to 4560 acres. The additional land is known to cover at least two areas of previously recognized gold mineralization. The Company intends to investigate these occurrences in the near future with a detailed mapping and sampling program.
"The Company believes the results of this wide spaced drill program provide evidence of a large epithermal system underlying the property. Considering the road cut sampling and drilling results from this recent work, the newly acquired land, and the location of the property (situated within a prolific area of gold production), the Company is enthusiastic about its ultimate success," said Universal's president and chairman, Ron Atlas. "Our geologists are examining the results to determine the next step in developing this very prospective property."
To ensure reliable results, the Company employs a stringent set of quality assurance and quality control procedures. These procedures include check samples randomly introduced in the laboratory and in the field and duplicate samples collected for reanalysis if necessary. A chain-of-custody program provides security from the time of sample collection on site to delivery at the assay laboratory. Sample preparation and analysis are performed by American Assay Laboratories Inc, an ISOIEC 17025 accredited laboratory, at their Sparks, Nevada facility.
Information with respect to the Tact property contained in this press release is approved by Bert W. Jeffries, PGeo, qualified person required under National Instrument 43-101.
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:
William Galine
Executive Vice President
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour. |
| |
| | October 01, 2009
Univeral Intersects 1.61 Grams/Tonne Gold Over 3 Meters at Tact Property, Nevada
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| | Vancouver, British Columbia, October 1, 2009 -- Universal Uranium Ltd. (TSX-V: UUL) (the "Company") is pleased to report surface sampling and drill results for the first four holes of its 14 hole drill program completed on its Tact gold project located in north-central Nevada within the Battle Mountain-Eureka Trend. Geologic mapping, surface sampling and drilling have confirmed the presence of a large epithermal mineral system located within the boundaries of the Company's claim position.
The mineralization is hosted in an atypical host rock, a quartz monzonite that may open a path to a new host rock for the district. The mineralized zones are characterized by quartz veining with associated carbonate and iron oxide alteration. The altered zones contain disseminated gold mineralization with moderate-to-deep oxidation. The above attributes lend themselves to low cost open pit, heap leach technology utilized by low grade gold deposits in the vicinity.
The Tact project represents an exciting, under-explored epithermal precious metals property within the highly productive Battle Mountain mining district. "Our Tact project provides the Company with excellent potential for a discovery of bulk mineable gold within one of the most prolific and concentrated gold trends in the world" said Universal's president and chairman Ron Atlas. "We will continue to evaluate the results of our exploration efforts as we receive our assays from the 14 hole drill program just completed."
Eighty-nine channel samples were collected from access roads throughout the project area. The sampling length varies from 1 foot wide (0.3 meters) to 60 feet in length (18.3 meters). Out of the 89 samples collected, 26 contained over 0.35 g/t gold with a high of 4.65 g/t over 13 feet (4 meters) in length. A true thickness cannot be determined at this time due to restricted exposures of bedrock.
Recent work combined with historic information has identified at least nine targets within the 1780 acre property. The first four holes of the company's drill program tested one of these targets, the southwest area, defined by a series of mineralized low-angle faults. This target was originally recognized from historic soil sampling that demonstrated an elongated anomaly approximately 3000 feet (914 meters) in length and 300 feet (91.4 meters) in width. Gold values in this anomaly ranged from lows of 0.1 g/t to a high of 4.6 g/t gold. The following summarizes the results of the drilling:
| Hole
Number |
From
meters |
To
meters |
Interval
meters |
Gold
grams/ton |
Interval
feet |
Gold
Ounces/ton |
| |
|
|
|
|
|
|
| T09-1 |
57.9 |
69.6 |
10.7 |
0.35 |
35 |
0.010 |
| T09-2 |
4.6 |
13.7 |
9.1 |
0.86 |
30 |
0.025 |
| including |
7.6 |
10.7 |
3.1 |
1.61 |
10 |
0.047 |
| T09-3 |
118.9 |
125.0 |
6.1 |
0.39 |
20 |
0.011 |
| T09-4 |
15.2 |
22.8 |
7.6 |
0.21 |
25 |
0.006 |
|
| | |
