August 25, 2010 Expedition and Aldrin Complete Phase I Work Program on Yukon Brew Property
Vancouver, British Columbia, August 25, 2010 -- Expedition Mining Inc. (TSX-V: EXU) (the "Company") and Aldrin Resources Corp. (TSX-V: ALN) are pleased to report exploration progress on its Brew project located in the Yukon Territory approximately 20 kilometres east of Kinross/Underworld's White Gold project. Expedition Mining is conducting exploration on the Brew property under a joint venture agreement with Aldrin Resource Corp. whereby Expedition can earn a 50% interest in the property.
In June, 2010 the Brew claim block was expanded by staking an additional 176 quartz claims to add to the original 168 claims staked in 2009 by Dawson prospector Shawn Ryan. The additional claims double the Brew property size to approximately 70 square kilometres or 17,250 acres. Shawn Ryan staked the original Underworld claims currently being explored by Kinross and also staked the nearby Coffee claim block being explored by Kaminak Gold Corporation. Preliminary soil sampling and reconnaissance prospecting indicate the Brew property contains geological and geochemical features similar to the White Gold and Coffee properties.
Expedition Mining recently contracted Groundtruth Exploration of Dawson to complete a soil sample survey on the Brew property. The recent sampling grid expands the original survey done by Ryanwood Exploration. This field season's soil program collected approximately 2,615 samples and preliminary assay results have increased the size of the gold in soils anomaly defined by the 2009 Ryanwood program (1360 soils). The completed survey indicates that there is a large gold in soil anomaly that coincides with arsenic, antimony and base metal elements located in three zones that appear to be related to a strong northwest-trending fault system that is likely associated with regional structures thought to control mineralization on other active prospects in the White Gold District. The Brew property gold in soil anomaly is now over two kilometres in length and surface metal values indicate a width of up to one kilometre. (See maps on website at www.expeditionmining.com.)
The company intends to complete additional soil sampling and a trenching and geological mapping program designed to focus on the gold, arsenic and antimony anomalies identified from this season's exploration activities. As assays are received, the trenching and geological mapping program will be expanded. Mr. Ron Atlas, President and Chairman said, "We are extremely lucky to have this opportunity. We are working with Shawn Ryan and his team, who are experienced in the Yukon, to help us bring this property to the drill-ready stage. Our proximity to the Kinross/Underworld's and Kaminak properties and our location in the White Gold District makes this one of the best opportunities we have ever had."
In the eastern grid area, the gold in soil zone is associated with anomalous molybdenum, mercury, arsenic, antimony and nickel (Ryan, 2009), in an area underlain by a complex zone of amphibolite (metavolcanic rocks), metasedimentary rocks, including marble lenses, and felsic orthogneiss. The complex geology may be suggestive of multiple northwest trending fault slices through this region, which is implied by the radarsat image (Ryan, 2009). The ground geophysical signature is not suggestive of skarn type mineralization due to the absence of magnetic high anomalies associated with the gold in soil anomalies. (J.Pautler, P. Geo. Brew Project Summary, 10/27/2009).
Circular topographic features on the Brew Project may reflect ring fractures associated with the doming effect of an underlying intrusion, possibly of Cretaceous age based on the presence of other Cretaceous intrusions in the area. (J.Pautler, P. Geo. Brew Project Summary, 10/27/2009). Mineralization at the Coffee property of Kaminak Gold Corporation has been found within the Cretaceous aged Coffee Creek pluton (Kaminak Gold website) and associated with possible similar aged felsic dykes (Dawson Rocks core shack, August 2010).
The Brew Project has potential to host mineralization similar to that at the White Gold and Coffee properties based on similar geological setting and geology (including Devono-Mississippian felsic orthogneiss, metavolcanic and metasedimentary rocks, with suggestions of a buried probable Cretaceous aged intrusion), gold-molybdenum-mercury-arsenic-antimony-nickel soil geochemical signature, and presence of nearby placer creeks. (J.Pautler, P. Geo. Brew Project Summary, 10/27/2009).
Expedition Mining is enthused about the potential of the Brew property and this year's program will add to the understanding of the mineralization contained on the property.
Information with respect to the Brew property contained in this press release is approved by Bert W. Jeffries, PGeo, qualified person required under National Instrument 43-101.
Expedition Mining Inc.(TSX-V: EXU) 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.
CAUTION REGARDING FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Expedition Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the Brew property, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold. Although Expedition Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Expedition Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
ON BEHALF OF THE BOARD:
(signed) "Ronald Atlas"
President & Chairman of the Board
Expedition Mining Corp.
ON BEHALF OF THE BOARD:
(signed) "Johnathan Moore"
President
Aldrin Resource Corp.
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.
July 06, 2010 Name Change
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
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
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
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
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
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
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
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
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:
HoleNumber
Frommeters
Tometers
Intervalmeters
Goldgrams/ton
Intervalfeet
GoldOunces/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
Drill holes T09-1 through T09-3 are wide spaced with over 450 feet (137 meters) between holes. Hole T09-4 is situated topographically below Hole T09-2 and was drilled at an angle under the mineralized interval encountered in T09-2. The intent of T09-4 was to intersect a near-vertical "feeder" source of mineralization at depth.
The Company believes the work completed to date, coupled with the presence of eight additional targets defined by geologic mapping, historic geophysical surveys, and geochemical sampling, provide evidence of a large epithermal system underlying the property. Considering the sampling and drilling results, and the location of the property (situated within a prolific area of gold production), the Company is enthusiastic over its chance of success on this project.
Information with respect to the Tact - Buff properties 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.
September 09, 2009 Drilling Underway on Universal's Nevada Gold Property
Vancouver, British Columbia, September 9, 2009 - Universal Uranium Ltd. (TSX: V- UUL) (the "Company") is pleased to report that its drilling program on its newly acquired Tact Project in Humboldt County Nevada is underway. Four holes have been completed for a total of 2,010 feet (612.8 meters). The program includes 15 to 20 reverse circulation drill holes from 15 permitted sites within the project boundary. The total program is estimated at 7,000 to 8,000 feet (2135 to 2439 meters). This program will test four separate targets previously defined by historic work. Three of the targets are surface gold anomalies with grades up to 4.5 g/t gold. The fourth target will test a pediment structure defined by geophysical surveys.
Construction of access roads for drilling has allowed mapping and sampling of additional altered zones. This process resulted in the collection of over 89 rock chip samples across altered fault zones exposed within the road cuts. The samples ranged from 2 to 35 feet (0.6 to 10.7 meters) true thickness across structural zones containing quartz and iron oxides. The mapping information and samples collected from these road cuts will provide three dimensional definition to mineralized zones when combined with drilling.
UUL's Tact property is favorably situated in Buffalo Valley approximately 4 miles (6.4 km) south and along trend with Newmont Mining's Lone Tree gold mine (2 million ounces), 2.5 miles (4 km) northwest of Mineral Ventures Gold Converse deposit (3.9 million ounces) and 6 miles (9.6 km) west of Barrick-Goldcorp's Marigold gold mine (4.5 million ounces).
Information with respect to the Tact - Buff properties 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.
July 07, 2009 Universal Uranium To Acquire Nevada Gold Property
Vancouver, BC, July 7, 2009 - Universal Uranium Ltd. (TSX:V- UUL) ("Universal Uranium") announces that it has entered into an agreement with Nevada Mine Properties II, Inc ("NMP"), a private Nevada corporation, to acquire a 100% interest in NMP's Tact -- Buff property (the "Property") located in the prolific Battle Mountain Mining District, Nevada. The Property is comprised of 98 claims totalling 1760 acres and is situated in Humboldt County approximately 30 miles southeast of Winnemucca.
Property Details
The Property is located in Buffalo Valley approximately 5 miles southwest of Newmont Mining's Lone Tree gold mine Complex (2 million ounces mined) and 3 miles northwest of Newmont's Converse deposit (4.5 million ounce resource). Other nearby gold mines in operation include the Marigold Complex (over 4.25 million ounces) operated as a joint venture between Barrick Gold Corp. and Goldcorp Inc. (See map at www.universaluranium.com)
The project area contains host rocks identical to the above mentioned mines and previous work has outlined gold in outcrop, within soil grids, limited drilling programs.
Gold mineralization identified within the property boundary occurs in strongly stockworked-brecciated limonite shears and quartz veining in structurally prepared areas within the Havallah sediments and within a quartz monzonite intrusive. A soil sampling program spaced on 30 by 130 meters covers an area over one square mile. The soil grid contains large areas of +0.1 g/t gold. Numerous +1 g/t gold values up to 4.6 g/t have been identified. A shallow drilling program (<30 meters) tested various, easily accessible portions of the soil grid with results to 0.014 oz/ton Au over 15 meters. None of this work has been followed up leaving most +0.1 g/t gold anomalies untested.
"While Universal remains committed to prospecting Uranium properties, the identification of this gold opportunity proved to be too tempting to let pass. The property's data has been reviewed by two top geologists and both have given us favourable reports", says Ron Atlas, President of Universal. "We have retained Bernard Stannus, a mining engineer who has considerable gold experience and who also helped bring Inca Pacific's Magistral Copper Project in Peru to its bankable feasibility and permitting stage. Bernard has agreed to consult for Universal."
In consideration, Universal Uranium has agreed to pay US$7,500 upon execution of the agreement and a total of US $302,500 in Advanced Royalty Payments in the first 8 years with automatic extensions over the next 12 years. Universal Uranium reserves the right to purchase 100% ownership of the Property at anytime by paying US$2 million less any Advance Royalty Payments.
Other considerations include issuing a total of 500,000 Universal shares to NMP over a two year period and the option to buydown a 3% NSR to 1% for US$3 million.
Universal has sufficient cash to proceed with drilling and plans to apply for drill permits and mobilize drill crews as soon as possible to proceed with an initial drilling program of up to 12 holes.
Information with respect to the Tact - Buff properties 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 favourable 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:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
May 13, 2009 Statement of Defence and Counterclaim Filed In Crosshair Action
Vancouver, British Columbia, May 13, 2009 -- Universal Uranium Ltd. (the "Company") announced that it has filed a Statement of Defence and Counterclaim in an action commenced by Crosshair Exploration & Mining Corp. ("Crosshair") in the B.C. Supreme Court. 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.
The Company considers the Crosshair action to be without merit. The Company's Statement of Defence and Counterclaim denies that Crosshair is entitled to rescission of the two agreements and asserts that the Crosshair action was commenced for the purpose of artificially increasing the value of Crosshair's shares by halting the release from escrow of the Crosshair shares to which UUL is entitled under the property purchase agreement. The Statement of Defence and Counterclaim also asserts that the Crosshair action is an abuse of process and seeks damages for the loss of the Company's opportunity to market the Crosshair shares to which the Company is entitled.
ON BEHALF OF THE BOARD:
(signed) "Ronald Atlas," President & Chairman of the Board
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.
May 01, 2009 Action Against Universal Uranium
Vancouver, British Columbia, May 1, 2009 -- Universal Uranium Ltd. (the "Company") announced that it has been served with a Writ and Statement of Claim in an action commenced by Crosshair Exploration & Mining Corp. ("Crosshair") in the B.C. Supreme Court. The Crosshair action seeks rescission of a property purchase agreement dated July 29, 2008 under which Crosshair acquired the Company's interest in approximately 4,741 mineral claims situated in the Central Mineral Belt in Labrador. It also seeks rescission of a July 29, 2008 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. The action also claims certain ancillary relief.
Further information on the property purchase agreement and the private placement agreement is contained in the Company's press release issued July 30, 2008.
The Company considers the Crosshair action to be without merit and will vigorously defend this action. The Company also intends to file a counterclaim against Crosshair seeking damages and other relief.
ON BEHALF OF THE BOARD:
(signed) "Ronald Atlas," President & Chairman of the Board
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.
April 29, 2009 Results of Annual General Meeting
Vancouver, British Columbia, April 29, 2009 -- Universal Uranium Ltd. (the "Company") is pleased to announce that its shareholders have approved all resolutions presented to them at the annual general meeting of the Company held on April 29, 2009. The shareholders re-elected five directors to the board, Ronald Atlas (also Chairman of the Board & President), Steven Chan, Corry Silbernagel, John Hite and Richard Walters. The shareholders also reappointed De Visser Gray, Chartered Accountants, as the Company's auditors and ratified and approved the Company's 10% rolling stock option plan and ancillary matters thereto, including the re pricing of certain stock options to directors and officers as previously announced in the Company's press release of February 26, 2009.
The Company also announced that it has granted incentive stock options in the aggregate amount of 775,000 shares to directors, officers, consultant and employees of the Company at a price of $0.15 per share. The options are exercisable for a period of five years, ending on April 29, 2014, and are subject to the requirements of the TSX Venture Exchange.
The Company is also proposing the amendment of 1,150,000 warrants issued pursuant to its private placement completed last March 2008 (see press release dated March 20, 2008). Subject to regulatory approvals, the exercise price of the warrants will be amended from $0.45 per share to $0.15 per share. All other terms and conditions remain unchanged. There are no insiders among the outstanding warrant holders.
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.
February 26, 2009 Stock Options Amended
Vancouver, British Columbia, February 26, 2009-- Universal Uranium Ltd. announced that it has re-priced 3,420,000 stock options granted to directors, officers, employees and consultants, ranging in price from $0.20 to $0.71, to $0.15 per share. All other terms and conditions of the options remain unchanged.
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.
September 30, 2008 Universal Uranium Receives Preliminary Assessment On St. Georges Bay Property
Vancouver, British Columbia, September 30, 2008 - Universal Uranium Ltd. (TSX:V-UUL) (the "Company") is pleased to report that North Rim Exploration Ltd. has completed a Preliminary Resource Assessment Study (the "Study") on the Company's 100% owned St. Georges Subbasin Project, located in western Newfoundland.
The study concludes that the project warrants being advanced and recommends additional work to be conducted in the form of ground truthing, ground gravity surveys and possible drill testing based on gravity features. It also reports that the property not only has potash potential but also potential for uranium, coal and other base metals.
North Rim geologists will visit Pasadena, NL in late October in order to document the cores of the historical drill holes in the area and try to locate the coal occurrences that are in the historic data as being on the property.
Highlights of the Preliminary Assessment Report:
-The St. Georges Subbasin is an extension of the larger Carboniferous-age Maritime Basin that underlies most of Nova Scotia, New Brunswick and Prince Edward Island (See Figure 3 available at www.universaluranium.com). The evaporite-bearing formations in Newfoundland are believed to be similar in age to potash-producing formations in the Moncton Subbasin of New Brunswick, which is also part of the Maritime Basin. The potash mine in the Moncton Subbsain, the Sussex Mine, is currently operated by the Potash Corporation of Saskatchewan and produces approximately 800,000 tonnes of potash a day. This demonstrates that the company's claims cover an area with the geological potential to host a potash deposit (See Figure 3 www.universaluranium.com).
-Sylvinite and caranallite mineralization have been reported and confirmed from drill holes in the general St. Georges Subbasin of western Newfoundland. The closest drill hole to the Universal property is the St. Fintans occurrence which is located approximately 10 to 15 kilometers from the western boundary of the company's licenses and reported grades as high as 9.1% K2O. Both sylvite and carnallite were reported to be present (See Figure 1 www.universaluranium.com). The most extensive drilling was done at Fischells Brook which is located approximately 20km northeast from the Universal property and reported grades as high as 15.3% K20. The highest grade intersection in this area was 4.1m averaging 13.2% K2O and the thickest intersection was 7.8m of 7.95% K2O (See Figure 1). These observations indicate it is reasonable to expect the discovery of additional sylvinite and caranallite within the St. Georges Subbasin.
-The highest prospectivity for potash mineralization in the St. Georges Subbasin is coincident with the lower Codroy Group Sediments. This Codroy group is present on a substantial part of the Universal property. Further ground work on the licenses, specifically within the regions marked by the highlighted area on Figure 9, could result in the discovery of evaporite minerals that may include sylvinite and carnallite.
-The St. Georges Subbasin is a metallogenically interesting area with regional indications of several other mineral commodities (Figure 7 www.universaluranium.com), including coal, uranium and base metals. There are currently reports of coal beds (Figure 9) encountered in the vicinity of the Universal licenses so particular attention will be paid to identifying the potential presence of a coal resource. The potential for economic concentrations of other minerals will also not be discounted during the work program as there are reports indicating base metal potential in the Codroy-Anguille contact area (Figure 9).
The Study, dated September 15th, 2008 and entitled "Bay St. Georges Subbasin Western Newfoundland - Preliminary Resource Assessment Study" will be filed on www.sedar.com and available for viewing on the company's website www.universaluranium.com. The study was prepared by Sandra J. Foster, P.Geo., and Stephen Halabura, P. Geo. of North Rim Exploration Limited (NREL), a geological consulting company based in Saskatoon, Saskatchewan. Mr. Halabura and Ms. Foster are both independent qualified persons as defined by NI 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:
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.
July 30, 2008 Universal Announces Closing Of Sale Of Labrador Uranium Property To Crosshair
Vancouver, British Columbia, July 30, 2008-- Universal Uranium Ltd. (TSX-V: UUL) is pleased to announce that it has closed on the agreement with Crosshair Exploration ("Crosshair") to acquire all of Universal's 60% interest in its Central Mineral Belt (CMB), Labrador, uranium project, consisting of approximately 4,737 claims and including the Two Time uranium deposit, which sits outside the Labrador Inuit Land area.
The Two Time Zone is the most advanced prospect within Universal's 1,184 square kilometre land holdings in the CMB and is a joint venture partnership with Silver Spruce Resources ("Silver Spruce"), whereby Silver Spruce retains a 40% ownership. Crosshair will be the operator of the project. The Two Time Zone has an existing NI 43-101 compliant indicated resource of 2.33 million pounds of uranium (U3O8) (1.82 million tonnes grading 0.058% U3O8) and an additional inferred resource of 3.73 million pounds of U3O8 (3.16 million tonnes grading 0.053% U3O8).
"The sale of this property to Crosshair will prove extremely beneficial to both parties. The shares of Crosshair received by Universal will give us a large position in the future of the entire property. Crosshair is better equipped to deal with the complexities of developing this property and has the geological staff and expertise to advance this discovery to production", says Ron Atlas, President of Universal. "The 2% NSR allows Universal to participate directly in the profit potential of the property. The private placement made in Universal by Crosshair will allow Universal to concentrate its efforts on its Potash property in Saskatchewan, and on the acquisition of additional attractive mineral prospects currently under review."
"We are pleased that the acquisition is complete and we look forward to expanding the Two Time Zone and also advancing a number of exciting discoveries in the area to the drill ready stage", says Mark Morabito, CEO of Crosshair. "Together with our C Zone -- Armstrong corridor, Crosshair now controls the only two 43-101 uranium deposits in the western portion of the CMB and both are outside the Labrador Inuit Land area."
The Two Time Zone has a current strike length of 475 metres (m) and remains open along strike and to depth. The Two Time Zone is located approximately 17 km northwest of Crosshair's C Zone. 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 complete resource estimate can be found in the NI 43-101 report entitled Technical Report on the CMBNW Property, Labrador, Canada dated June 12, 2008, as filed on SEDAR on June 13, 2008 by both Universal and Silver Spruce.
Acquisition Details
As consideration for Universal's interest in the Property, Crosshair paid to Universal CDN$500,000 and issued 10,000,000 common shares and 7,500,000 warrants. Each warrant entitles 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 are 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. 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 has also purchased, by way of private placement, 2,222,222 units of Universal at a price of CDN$0.45 per unit. Each unit consists 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.
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.
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.
The Company seeks Safe Harbour.
February 25, 2008 Universal Uranium Announces Non-Brokered Financing
Vancouver, British Columbia, February 25, 2008 -- Universal Uranium Ltd. (the "Company") is pleased to announce that it will be proceeding with a private placement of up to 2.1 million units ("Units") at a price of $0.35 per Unit for gross proceeds of $735,000.
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").
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.
The Company seeks Safe Harbour.
February 21, 2008 Update on 2007 Exploration - CMBNW Property
Highlights
Strong airborne radiometric anomalies located to the north of Snegamook Lake
Gravity anomalies associated with Two Time mineralization and other mineralized areas
Strong uranium in soil geochemistry and rock sample values in untested areas
February 21, 2008, Vancouver, BC/ Bridgewater, NS Universal Uranium Ltd. (TSXV: UUL) and - Silver Spruce Resources Inc. (TSXV: SSE) are pleased to provide an update on the 2007 exploration program on the CMBNW JV property, where the Two Time uranium Zone is located. The 2007 work included an infill/definition drilling program for a resource calculation on the Two Time zone; an airborne radiometric and magnetic survey over an area to the north of Snegamook Lake; an air gravity survey over the Kanairiktok River area, including the Two Time Zone and the adjoining Snegamook property to the south; and prospecting; geological mapping; RadonEx soil gas surveys; soil geochemistry; and trenching/sampling in selected areas.
Two drills completed the resource definition program at the Two Time Zone on December 15, 2007. The drilling was carried out for an NI 43-101 compliant resource estimate being carried out by Scott Wilson Roscoe Postle Associates Inc. (SWRPA). As of December 31, 2007, a total of 11,190.6 meters in DDHs 1 to 41, had been drilled on the CMBNW property. Forty of these holes (1-23 and 25-41), for a total of 10,922.6 meters, tested the Two Time Zone and one hole, CMB-07-24, tested a RadonEx soil gas anomaly to the north of the zone. The diamond drilling data will be reported with the resource estimate, within the next couple of weeks. Drilling is planned to resume in the first quarter of 2008 with one drill carrying out further infill drilling and evaluating extensions of the Two Time Zone to depth and on strike. The second drill will focus on the Firestone Zone (see news release dated October 17, 2007) and other targets that have been generated on the CMBNW property.
Trenching/sampling was carried out on the Two Time Zone as part of the exploration required for the resource estimate. Deep overburden prevented complete coverage; however, a total of 113 bedrock channel samples were sawed from the bedrock at one meter intervals from five trenches. Weakly to moderately radioactive hematitized / brecciated monozodiorite was exposed over lengths of 10 to 35 meters in the trenches with U308 assays as follows: Trench 1 - 5 meters at 166 ppm; Trench 2 - 4 meters at 285 ppm; Trench 3 - 6 meters of 166 ppm; Trench 4 - 13 meters of 266 ppm; and Trench 5 - 10 meters of 161 ppm. The highest grade located was six meters of 395 ppm U308 from Trench 4. The trenching confirmed and expanded the previous trenching, carried out in 2006, exposing weakly to moderately radioactive sections of brecciated monozodiorite. Results are comparable to the previous sampling, and with extensive uranophane noted in near surface drill holes, suggest near surface leaching of uranium in the upper portion of the Two Time Zone.
The airborne radiometric/magnetic survey was carried out over an area to the north of Snegamook Lake by McPhar Airborne Surveys in a north-south direction at a line spacing of 100 meters. A total of 885 line kilometers were flown. Four high priority,16 moderate priority and a number of lower priority targets were "picked" by consultant, Ted Urquhart of NuSense Geophysics (Santiago, Chile). They were selected on the basis of U/Th ratios, using the 95th percentile with a minimum of 14 cps uranium; total uranium; total field magnetics; and geology. The higher priority targets are mainly located in the northern and southern portions of the area flown. They are associated with anomalous lake sediment geochemistry (values up to 258 ppm U) in the north and areas shown to be radiometrically anomalous by Brinex in the 1970s in the south. The uranium map, with the targets shown, can be viewed on the Silver Spruce and Universal Uranium websites. The lake sediment results were published in a news release dated June 26, 2007.
The air gravity survey was carried out by Bell Aerospace of Houston, Texas. It was flown at a one kilometer line spacing for 10 kilometers in an east-west direction, covering the Kanairiktok River area of the CMBNW property including the Two Time Zone area and extending to the south of the river over the Snegamook Property, 100%-owned by Silver Spruce. This survey showed a number of gravity features, both positive and negative, some of which appear to be associated with the Two Time mineralization, and possible extensions to the north and south. Positive gravity areas away from the zone to the west and northeast appear to reflect intrusive bodies as shown on the magnetic and geological maps. Coincidence of positive gravity anomalies with mineralized occurrences is also shown in the northeastern portion of the property. No geophysical/geological interpretation by a geophysical consultant has been carried out on this data to date.
A total of 2,120 B horizon soil samples were collect over selected areas to the east and north of the Two Time Zone. Samples were analyzed for uranium and other elements. Values in uranium range from 0.1 to 130 ppm, with a mean value of 2 ppm. No other elements gave significant anomalous values. The results highlight four uranium anomalous areas as follows:
A 1.2-kilometer long anomaly with coincident radon gas anomalies, to the north of the Two Time Showing.
An area approximately 2.5 km to the east of the Two Time Showing, associated with radon gas anomalies and/or near areas of untested uranium mineralization in bedrock.
An area 4.5 km to the east-northeast of the Two Time Zone where uranium values ranging from 6.9 to 116 ppm were located over a 700-meter long zone which remains open to the north and east. Mineralized outcrop/boulders of hematite breccia giving values ranging from 0.07 to 0.30 % U308 have been located in the area.
Sporadic values up to 32 ppm on a small grid in the southeastern part of the property, covering the extension of a structural lineament carrying uranium mineralization on an adjoining property.
Rock sample results, from regional prospecting and more detailed follow up based on RadonEx and soil geochemistry, indicate a number of prospective areas, primarily in the northeastern and southeastern portions of the property. Geological mapping indicates a structural association of the mineralized areas with northwest and northeast trending structures. Uranium bearing hematite breccia zones have been identified along these structures some of which are in excess of 6.5 kilometers long.
Trenching on showings outside of the Two Time area was curtailed due to thick overburden and the onset of winter conditions in late October. Three channel samples were taken at one meter intervals from poorly exposed outcrop in the western part of the Firestone showing. The samples are pervasively hematitized/oxidized breccia which gave values of 60,160 and 300 ppm U308. As at the Two Time Zone, uranium mineralization at the Firestone prospect has undergone surface leaching as shown by uranophane on fractures.
All of the mineralized zones discovered during the 2007 field season will be targeted by the 2008 drill campaign.
"We have come a long way since the discovery of the Two Time uranium zone in the fall of 2006 and the first drilling program completed in December 2006," stated Lloyd Hillier, President and CEO of Silver Spruce. "We look forward to the definition of an NI 43-101 compliant resource that will establish Silver Spruce and Universal Uranium as companies with a significant uranium deposit at the Two Time Zone. We also look forward to further discoveries as we continue our follow up exploration."
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.
Plan maps and sections for the drilling on the Two Time Zone, the radiometric picks for the Snegamook North airborne survey, the air gravity results and a compilation map showing the RadonEx, soil, geochemical and rock sample results are shown on the Silver Spruce and Universal Uranium websites at www.silverspruceresources .com and www.universaluranium.com.
ABOUT THE CMBNW PROPERTY
The CMBNW block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
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.
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 13,100 claims totaling approximately 3,275 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. Experienced partners and strong financial backing make Silver Spruce a leading uranium explorer in Canada.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., a Qualified Person (QP) as defined in National Instrument 43-101.
For Further Information Contact:
UNIVERSAL URANIUM
HEAD OFFICE
Ron Atlas, President
Phone: 604.662.3903
Fax: 604.662.3904
Email: ratlas@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The company seeks Safe Harbour.
February 20, 2008 Universal Uranium Ltd. Appoints New Director to the Board
Vancouver, British Columbia, February 20, 2008-- Universal Uranium Ltd. (the "Company") (TSX-V: UUL) is pleased to announce that Mr. Richard R. Walters has agreed to join the Company's Board of Directors effective immediately.
Mr. Walters has been a director and the President of Little Squaw Gold Mining Company, a publicly traded company on the OTCBB, since July 2003. He is also a co-founder of Marifil Mines Ltd and has been a Director and its Executive Vice President since it was incorporated in December of 2003. Marafil is a publicly traded company listed on the TSX Venture Exchange. From 1994 to 2000, Mr. Walters was a director, the CEO and President of Yamana Resources Inc. (now Yamana Gold Inc.); a company he co-founded that is listed on the Toronto Stock Exchange. He is a Certified Professional geologist by the American Institute of Professional Geologists and is licensed to practice as a geologist in the states of Alaska and Washington. He is an economic geologist, holds a degree in geology from Washington State University, and has 40 years of mining experience with a global technical and business background in mineral exploration and development projects. He has worked for several major international mining companies, including Kennecott Copper Corp., Hudson Bay Mining Co., St. Joe Minerals Corp., Fluor Corp., and Sunshine Mining Co. Mr. Walters has been a key individual in the discovery of several major mineral deposits of gold, silver, copper, uranium and tungsten in Alaska, Montana, Nevada, Papua New Guinea and Argentina.
"Walter's appointment adds a valuable dimension to Universal's Board," states Ronald Atlas, Chairman and CEO of Universal. "His knowledge and expertise will help facilitate the Company's strategy for continued growth and shareholder value appreciation"
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,"
Chairman of the Board
For further information contact:
Taylor Little, Investor Relations
Telephone: (604) 662-390
Email: tlittle@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
December 03, 2007 Appointment of Executive Vice-President
Vancouver, British Columbia, December 3, 2007 - Universal Uranium Ltd. (the "Company") is pleased to announce the appointment of William Galine as Executive Vice President of the Company effective December 1, 2007. Mr. Galine has been the head of Corporate Communications for the Company for the past two and a half years and has over 23 years of experience in corporate communication and corporate finance. He previously served as Vice President for a publicly traded company and is a current director for Toro Resource Corp. His combined experience and knowledge in both business and public relations is an asset to the company.
In addition, 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, the Company announces that incentive stock options in the aggregate amount of 745,000 shares have been granted to directors, officers and consultants at a price of $0.60 per share. The options are exercisable for a period of five years, ending on December 1, 2012.
The Company has also re-priced 720,000 stock options granted to directors, officers and consultants In March 2007 from $1.77 to $0.55 per share. All other terms and conditions of the options remain unchanged.
Options granted and re-priced 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.
October 25, 2007 Universal Uranium Closes $2 Million Flow-Through Financing with MineralFields
News Release 07-17
Vancouver, British Columbia, October 25, 2007 - Universal Uranium Ltd. (the "Company") is pleased to announce that it has closed a non-brokered private placement with the MineralFields Group consisting of 2,666,666 flow-through units ('FT Units") at a price of $0.75 per FT Unit for gross proceeds of $2,000,000.
Each FT Unit consists of one flow-through 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 $1.25 in the first year and $2.00 in the second year. The warrants will be subject to a 30 day early expiration upon formal notification by the Company of a closing price, for 30 consecutive trading days, of $1.50 or greater in the first year and $2.25 or greater in the second year.
The Company paid a cash commission equal to 6 per cent of the gross proceeds. In addition, the Company issued finder's options entitling the holder to purchase up to 266,666 non flow-through units of the Company, at a price of $0.75 per unit, for a period of 24 months.
All securities issued by the company, pursuant to this private placement, are subject to a four-month hold period expiring on February 25, 2007.
The funds are intended to be used for general exploration expenditures on the Company's Newfoundland and Labrador projects, which will constitute Canadian exploration expenses (as defined in the Income Tax Act (Canada)) and will be renounced for the 2007 taxation year.
MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities(r), a division of Limited Market Dealer Inc., is active in leading resource financings (both flow-through and hard dollar)on competitive, effective and service-friendly terms, with investors both within, and outside of MineralFields Group.
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:
Bill Galine, Investor Relations
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, 2007 Universal Uranium Amends Flow-Through Financing With Mineralfields
Vancouver, British Columbia, October 22, 2007 -- Universal Uranium Ltd. (the "Company") announces that it has amended the private placement previously announced on October 1, 2007. The Company now proposes to issue 2,666,667 flow-through units ("FT Units") at a price of $0.75 per FT Unit for gross proceeds of $2,000,000. All other terms and conditions previously announced will remain unchanged.
The Company anticipates closing the private placement this week.
The private placement is subject to TSX Venture Exchange acceptance.
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: For further information contact:
(signed) "Ronald Atlas," 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.
October 17, 2007 New Mineralized Zone Discovered 8km Southeast of Two Time Zone
Highlights
- New mineralized area (Firestone Showing) located over an area of 250m by 600m
- Drill targets being defined in preparation for a new drill program
October 17, 2007 - Vancouver, BC / Bridgewater, NS - Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce that preliminary follow up over a zone of uranium bearing outcrop/angular boulders, approximately eight kilometres to the southeast of the Two Time Zone, has resulted in a new discovery - The Firestone Showing. A map showing the new zone, plus photos of the area, are available on the Universal and Silver Spruce websites:
(www.universaluranium.com /www.silverspruceresources.com ).
The mineralized showing covers an area of 250m by 600m of strong, pervasively hematitized/brecciated, monzodiorite/granite, giving highly anomalous to off-scale (>10,000 total count cps) scintillometer readings, along a strong northwest - southeast trending structure. Two float samples gave values of 0.08% and 0.11% U308, and proximal to the zone, boulders with values over 1.0% U308 were located. Further results are pending.
Soil geochemistry and trenching/sampling is underway on the new showing to define targets for drilling this winter utilizing a second drill rig. This additional drill rig is currently being mobilized to the Two Time Zone to assist in resource delineation drilling. Once this has been completed, the rig will be moved to the newly defined drill targets in and around the Firestone Showing. Silver Spruce/Universal currently have one drill on site dedicated to the resource delineation drilling on the Two Time Zone, where Scott Wilson Roscoe Postle Associates Inc. have been contracted to prepare an NI 43-101 compliant resource estimate planned for completion in early 2008.
Exploration Summary:
CMBNW Block
Regional exploration on the CMBNW block in the late summer/early fall consisted of regional prospecting, RadonEx (radon soil gas) and soil geochemical surveys, with follow up consisting of trenching/stripping. Prospecting resulted in the location of numerous uranium bearing outcrop and float boulders throughout the property with a total of 170 radioactive samples sent for analyses to date. Of the 130 results received so far, many showed significant (>100 ppm) uranium values, with some >1% U308. An airborne radiometric/magnetic survey, totaling 885 line km at a line spacing of 100m, was carried out by McPhar Geophysics over claims to the north of Snegamook Lake. Results are pending.
RadonEx surveys were carried out over favourable geology to the east and southeast of the Two Time Zone. Approximately 2,600 stations were read and anomalies, some much larger and stronger than the one over the Two Time Zone, were defined along structural lineaments. These are being trenched/stripped prior to the onset of winter. Soil geochemistry is centered on radon gas anomalies and radioactive showings. Approximately 1,200 B-horizon soil samples have been collected and sent for Uranium (DNC) and 30-element ICP analyses. Results are pending. Soil geochemistry will continue for as long as the weather permits. The RadonEx surveys have been curtailed due to wet conditions, which are not conducive to radon gas development over mineralized zones.
CMBE Property
Prospecting was carried out over the CMBE property in August. Analytical results indicate two new significant mineralized areas. One is an area of subcrop of a siliceous, hematitized, microgranite that gave 1.0% U308 from a single sample within a wide area of high scintillometer values. A second showing, hosted in an outcrop of hematitized granite, gave 0.28% U308, 0.6% Mo, and >100 ppm Ag. No follow up has been carried out on this property and due to the lateness of the season, it will be deferred until 2008.
Seal Lake Properties
Limited prospecting/geochemical surveys have been carried out over selected areas within the Seal Lake JV properties. All results remain pending.
"We are excited by the mineralization that we are finding on the CMB JV properties," stated Lloyd Hillier, President and CEO of Silver Spruce. "Results indicate strong uranium mineralizing systems throughout the area with good potential for further uranium zones similar to the Two Time Zone."
Rock, core and soil sample analyses are being 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 and an ICP technique that gives good results for most of the other elements, including Thorium.
ABOUT THE CMB PROPERTIES
The CMBNW and E blocks are part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
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.
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 over 12,500 claims totaling approximately 3,100 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Canada.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
For Further Information Contact:
UNIVERSAL URANIUM
HEAD OFFICE:
Ron Atlas, President
Phone: 604.662.3903
Fax: 604.662.3904
INVESTOR RELATIONS
Bill Galine, Director of Corporate Communications
Taylor Little, Investor Relations
Phone: 604.662.3903
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
SILVER SPRUCE RESOURCES
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The company seeks Safe Harbour.
October 15, 2007 Third Phase Drill Program Update
Highlights:
- Scott Wilson Roscoe Postle Associates contracted to prepare a resource estimate for the Two Time Zone
- Strike length of Two Time zone extended to 475 metres
October 15, 2007, Vancouver, BC/ Bridgewater, NS - Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce further results from the third phase of drilling at the Two Time Zone.
The drilling was targeted to test the extension of the Two Time Zone to the south to conclude phase three exploration drilling prior to definition drilling working toward a resource calculation for the deposit. These last holes of the phase three program were drilled at depth to the south (CMB-07-21, 22), in the central area of the deposit (CMB-07-23) and testing a RadonEx anomaly, 600 metres to the north and west of the deposit (CMB-07-24).
Drilling on the southern extension of the Two Time Zone (CMB-07-21, 22) encountered significant intervals of low-grade uranium mineralization, with CMB-07-21 intersecting mineralization between 175 to 210 metres vertical and CMB-07-22 intersecting mineralization from 225 to 275 metres vertical. Modeling of the drill-hole data indicates that the mineralized zone should continue to the southwest, plunging at 30 to 50 degrees, approximately 70 metres below the trace of CMB-07-22. Hole CMB-07-23, in the central part of the zone, which targeted the down dip extension of mineralization encountered in holes CMB-07-10 and CMB-07-11, intersected a thick mafic dyke, which disrupted the main mineralized zone.
CMB-07-21 was drilled at Azimuth 070, dip -45, 50 metres to the west of CMB-07-20, to a total depth of 482 metres. The hole "scissored" back to the east, under CMB-07-20 which did not intersect mineralization. A mineralized zone assaying 0.027% U3O8, was intersected from 299 to 347 metres (48 metres). The best value within the zone was 0.089% over 2.0 metres. CMB-07-22, at Azimuth 070, dip-58, collared from same setup as CMB-07-21, was drilled to a total depth of 448 metres. An intersection averaging 0.011% U3O8 was encountered from 314 to 357 metres (43 metres). The best values within the zone were 0.054% over 2.0 metres, including 0.082% over 1.0 metre. CMB-07-23, drilled at Azimuth 070, dip -63, to total depth of 468 metres, tested the north central portion of the zone and was drilled from the same set up as CMB-07-11. A 77 metre wide mafic dike, from 341 to 418 metres, interrupts the main portion of the mineralized zone. Mineralization above and below the dike was weak and erratic. CMB-07-24 was drilled at Azimuth 070 and dip -45, to a total depth of 225 metres, six hundred metres to the northwest of the Two Time zone. It was designed to test coincident Radon Gas (RadonEx) and stream sediment anomalies. No significant mineralization was encountered; however, favorable brecciated/hematitized felsic host rocks were intersected over the entire length of the hole.
The Two Time zone has been traced over a strike length of approximately 475 metres, from 2+75 N to 2+00 S, and remains open to the north and south along strike and to depth. The host for the mineralization is an altered, brecciated and fractured intrusive, monzodiorite to diorite, with extensive chlorite, carbonate and hematite alteration. The orientation of the mineralization appears to be near vertical to steeply dipping; however, an estimate of true widths cannot be established at this time.
A representative from Roscoe Postle has been on site to initiate the resource definition program of trenching and diamond drilling, leading to a National Instrument 43-101 compliant resource estimate at the Two Time Zone. The definition drilling program of approximately 3,000 metres has begun using one drill with an additional drill planned to be added in late October. Plans are to have the definition drilling completed prior to the Christmas break and the resource estimate completed in the first quarter of 2008.
ABOUT THE CMB PROPERTIES
The CMB properties are part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
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.
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 over 12,500 claims totaling approximately 3,100 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Canada.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
For Further Information Contact:
UNIVERSAL URANIUM
HEAD OFFICE:
Ron Atlas, President & Chairman
Phone: 604.662.3903
Fax: 604.662.3904
INVESTOR RELATIONS
Bill Galine, Director of Corporate Communications
Phone: 604.662.3903 ext. 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
SILVER SPRUCE RESOURCES
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
October 01, 2007 Universal Uranium Announces Flow-Through Financing With Mineralfields
Vancouver, British Columbia, October 1, 2007 --Universal Uranium Ltd.(the "Company") is pleased to announce that it will be proceeding with a private placement of 2,352,940 flow-through units ('FT Units") at a price of $0.85 per FT Unit for gross proceeds of $2,000,000. The Company anticipates that funds controlled by the MineralFields Group will subscribe for the entire private placement.
Each FT Unit will consist of one flow-through 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 $1.25 in the first year and $2.00 in the second year. The warrants will be subject to a 30 day early expiration upon formal notification by the Company of a closing price, for 30 consecutive trading days, of $1.50 or greater in the first year and $2.25 or greater 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 used to finance the Company's exploration programs on its Labrador properties, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2007 taxation year.
A finder's fee will apply in this transaction in accordance with the policies of the TSX Venture Exchange (the "Exchange").
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:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: bgaline@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.
September 27, 2007 Universal Uranium Begins Phase I Drill Program At Artillery Peak
Vancouver, British Columbia, September 27, 2007 -- Universal Uranium Ltd. (TSX-V: UUL) is pleased to announce that drilling has commenced on its 100% owned Artillery Peak Property in Mohave County, Arizona. The Phase I drill program will consist of 41 holes totaling approximately 15,700 feet of drilling and has been designed to bring the current historical resource on the property to 43-101 compliance and expand the known mineralization in the area.
Universal Uranium acquired the Artillery Peak property on February 21, 2006. The property consists of 86 lode mining claims totaling 1,777 acres and is located 112 miles northwest of Phoenix, Arizona. Based on a 1979 report released by Central and South West Fuels Inc, the northern part of the property contains a historical resource of 1.7 million pounds of U308 with an average grade of 0.113%. The drill program will begin with 26 validation holes to confirm the historical ore reserves which occur in the lower member of the Artillery Peak Formation. The lower member outcrops in his area and the drilling will be relatively shallow (less than 200 meters). Nine new exploration holes are also planned in order to potentially expand the known resource.
The southern portion of the property had a minimum of 90 holes drilled by Homestake and Hecla in the 1970's. In this phase of the project, plans are for six holes to be drilled in this area to obtain data on the regional stratigraphy of the area. The lower mineralized member of the Artillery Peak Formation does not outcrop in this area, but is presumed to be at depth. Due to the density of previous drilling, and the thickening of the sediments in this portion of the basin, it is possible that the southern area may have multiple mineralized horizons.
Richard Dorman, Vice President of Exploration, states "Due to the historical data we have obtained, we are enthusiastic about the prospects at Artillery Peak. This Phase I drill program will greatly increase our understanding of this historical resource and bring us one step closer to uncovering the potential of the property."
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:
Bill Galine, Investor Relations
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.
September 24, 2007 Universal Uranium Appoints New President
Vancouver, British Columbia, September 24, 2007 - Universal Uranium Ltd's (TSX-V: UUL) Board of Directors is pleased to announce the appointment of Mr. Ronald Atlas as interim president for the ensuing year or until his successor is appointed. Mr. Atlas has been a director of the company since June 12, 2006 and was appointed Chairman of the Board on July 6, 2007. Mr. Atlas will retain his chairmanship alongside his interim presidency.
Mr. Atlas is a Certified Public Accountant and graduate of DePaul University School of Law with a Juris Doctorate Degree and is a licensed attorney in the U.S. Mr. Atlas also serves on the board and is Chief Operating Officer of Patriot Power Corp, a private uranium exploration company.
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:
For further information contact:
(signed) "Ronald Atlas,"
President & Chairman of the Board
Bill Galine, Investor Relations
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.
September 19, 2007 Universal Uranium and Silver Spruce Resources to Proceed with Joint Venture in Lieu of Combination Transaction
Vancouver, British Columbia & Bridgewater, Nova Scotia, September 19, 2007 -- Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) report that they will not be proceeding with the previously announced business combination transaction (see news release dated June 15, 2007). Silver Spruce and Universal Uranium will continue to work together to formulate the terms of their joint venture in Labrador. The decision not to proceed with the business combination resulted primarily from advice put forward by the financial advisor of Silver Spruce who concluded, based on analysis of the transaction, that proceeding with the joint venture was more favorable.
After having spent $2 million dollars on exploration as required by the original agreement, Universal Uranium now owns 60% of the joint venture properties (6,517 claims totaling 393,626 acres). Universal Uranium has the right to become the operator on these claims. The 34 Bayswater Uranium Corp. claims are no longer part of this joint venture and instead are held 50% with Bayswater with the remaining 50% divided equally between Universal Uranium and Silver Spruce (see news release dated August 9, 2007).
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.
ABOUT SILVER SPRUCE
Silver Spruce Resources Inc. (TSXV: SSE) is a junior mining exploration company primarily focused on uranium in the Central Mineral Belt of Labrador, Canada. With over 12,550 claims totalling approximately 3,100 square kilometres in Labrador, Silver Spruce is the second largest land holder in one of the world's premier emerging uranium districts. With experienced development partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Canada.
For Further Information Contact:
UNIVERSAL URANIUM
HEAD OFFICE:
Ronald Atlas, Chairman of the Board
SILVER SPRUCE RESOURCES INC.
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Each Company seeks Safe Harbour
August 30, 2007 Third Phase Drill Program Intersects 17m of 0.109% U3O8
Highlights
- Drilling intersects 17m of 0.109% U3O8 (2.18 lbs / ton)
- Widest zone of mineralization located to date in drilling -- 199 m at 0.026% U3O8 (0.52 lbs/ton)
- Two Time Zone strike length extended to 425m
- New mineralized areas located in float and outcrop with values to 0.93% U3O8 (18.6 lbs/ton)
- Radon Gas (RadonEx) surveys show significant potential mineralized zones
August 30, 2007, Vancouver, BC/ Bridgewater, NS. - Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce further results of the continued third phase drilling at the Two Time Zone and prospecting and Radon Gas (RadonEx) surveys from the CMBNW claim block in central Labrador.
Results for holes CMB-07-15 to 20 are reported. The new holes continue to expand and define the mineralization, along strike and to depth. The best values were: CMB-07-16 -- 192 m from 256 to 448 m, assaying 0.022% U3O8 (0.44 lbs / ton) including 9 m from 286 m to 295 m at 0.127 (2.54 lbs/ton); CMB-07-18 -- 17 m from 211 m to 228 m at 0.109% U3O8 (2.18 lbs / ton); and CMB-07-19 -- 199 m at 0.026% U3O8 (0.52 lbs / ton) including 4 m from 299 m to 303 m at 0.129% U3O8 (2.58 lbs / ton). The drilling was targeted to test the Two Time zone at depth to the south.
Mafic dikes disrupted the mineralized zone in hole 15, which tested the zone at a vertical depth of 250 m under hole 14 on Section 0+00. The hole stopped in the mineralized zone due to bad ground conditions. Hole 16 tested under hole 12 on Section 0+75 S, at a depth of approximately 250 m. It intersected a wide, lower grade section with narrow higher grade zones and included mafic dike from 311 m to 329 m. Holes 17-19 were drilled as a fence on Section 1+25 S, 50 m to the south of drill holes 5, 6, 12 and 16, on Section 0+75 S, to test the southern extension of the zone from approximately 150 m to 250 m vertical depth. All of these holes intersected wide zones (90 m plus) of lower grade mineralization in the 0.02% to 0.03% U3O8 range with higher grade intersections including 17 m of 0.109% U3O8 in Hole 18. Hole 19 which gave the widest zone of mineralization to date, 199 m of 0.026% U3O8 was stopped while in mineralization due to mechanical difficulties. Hole 20 was drilled to the west to test for a possible western offset to the Two Time Zone mineralization. It did not intersect any significant radioactivity and no samples were taken. Drilling is continuing.
"We continue to be excited by the mineralization that we are finding on the CMBNW property," stated Lloyd Hillier, President and CEO of Silver Spruce. "Ongoing results indicate the strength of the uranium mineralizing system and the increased potential for a large uranium deposit on the property."
The zone has been traced over a strike length of approximately 425 m from 2+75 N to 1+50 S and it remains open. The host for the mineralization is an altered, brecciated and fractured intrusive, monzodiorite to diorite, with extensive chlorite, carbonate and hematite alteration. The orientation of mineralization in the Two Time Zone appears to be near vertical to steeply dipping. An estimate of true widths cannot be established at this time.
RadonEx radon gas surveys have been utilized to trace uranium mineralization on the CMBNW and Snegamook properties as a guide for exploration. The non-invasive RadonEx technique uses a computer chip based radon detector which is buried in the earth in the morning, recovered in the late evening and then read in the night to give results immediately. The technique, which relies on Radon gas escaping from buried uranium mineralization, was tried on the Two Time and Near Miss showings in the early summer as an orientation. Both surveys detected and traced the mineralization giving confidence in the technique. The survey has been successful in defining a trend of radon anomalies, thought to represent uranium mineralization, along the Two Time area and these anomalies are being tested by drilling.
The surveys have also shown a number of other mineralized structural trends, particularly an east-northeast (ENE) trending zone, to the south of the Two Time on the Snegamook property, which remain to be tested. This survey has located significant anomalies, some much larger and stronger than the anomaly over the TT zone. Prospecting, guided by the RadonEx surveys, has located significant mineralization along these trends.
In the prospecting surveys, 76 rock samples taken from float and outcrop with scintillometer readings from a few hundred to > 10,000 cps have been analyzed. Of these, five gave values > 0.5% U3O8 (10 lbs / ton) and 31 gave values > 0.1% U3O8 (2 lbs / ton). The majority of these samples were taken outside of known mineralized areas and represent new areas of significant uranium mineralization. Most of the anomalous samples are associated with major east-northeast (ENE) or north-northwesterly (NNW) trending structures, the most significant of which is a 12 km long east-northeast trending suture which extends from the Near Miss showing across the Snegamook property, approximately 2.5 km south of the Two Time zone to the area of the highly anomalous lake sediment values noted in the news release of June 26, 2007. The uranium values are hosted in hematite bearing breccia zones close to the trace of the structure and in pegmatitic zones to the north of it. Another area, trending ENE and giving values up to 0.93% U3O8 (18.6 lbs/ton) in float boulders and 0.4% U3O8 (8 lbs/ton) in outcrop is located in the southeastern portion of the group. These samples are generally hematite breccias and are related to alteration (carbonatization, chloritization) in the host units. The Near Miss Showing, located in the southwestern portion of the Snegamook property, gives values from 78 to 5000 ppm (0.008% to 0.5%) U3O8 in rock samples from outcrop and also shows good coincidence with RadonEx radon gas anomalies. It has not yet been drilled. Other rock samples have been taken and submitted to the laboratory. These results are pending.
Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique, which gives accurate results for samples carrying up to one percent uranium. Selected analytical values for the drill holes are shown in Table 1. A revised plan map of the drilling, a compilation map showing the RadonEx anomalies, the anomalous rock sample values and the associated structures plus a more detailed map showing the RadonEx anomalies in the Two Time Trend area, are shown on Silver Spruce's and Universal Uranium's websites.
TABLE 1 - ANALYTICAL RESULTS
Diamond Drilling - CMBNW Property - Two Time Showing -
DDH's CMB-07-15 to 20
------------------------------------------------------------
Length lbs/ton
DDH # From To m % U3O8 U3O8
------------------------------------------------------------
CMB-07-15 241 289 48 .011 0.22
------------------------------------------------------------
" incl. 259 270 11 0.029 0.58
------------------------------------------------------------
" 447 499 52 0.014 0.28
------------------------------------------------------------
CMB-07-16 256 448 192 0.022 0.44
------------------------------------------------------------
" incl. 267 311 44 0.045 0.9
------------------------------------------------------------
" incl. 286 295 9 0.127 2.54
------------------------------------------------------------
" incl. 349 354 5 0.10 2.0
------------------------------------------------------------
CMB-07-17 173 263 90 0.022 0.44
------------------------------------------------------------
" incl. 236 263 27 0.043 0.86
------------------------------------------------------------
" incl. 249 262 13 0.063 1.26
------------------------------------------------------------
" incl. 249 253 4 0.095 1.9
------------------------------------------------------------
" and 255 262 7 0.057 1.14
------------------------------------------------------------
CMB-07-18 198 326 128 0.028 0.56
------------------------------------------------------------
" incl. 205 228 23 0.089 1.78
------------------------------------------------------------
" incl. 211 228 17 0.109 2.18
------------------------------------------------------------
" incl. 216 228 12 0.134 2.68
------------------------------------------------------------
" incl. 305 310 7 0.08 1.6
------------------------------------------------------------
CMB-07-19 251 450 199 0.026 0.52
------------------------------------------------------------
" incl. 286 443 157 0.029 0.58
------------------------------------------------------------
" incl. 287 303 16 0.071 1.42
------------------------------------------------------------
" incl. 299 303 4 0.129 2.58
------------------------------------------------------------
CMB-07-20 No significant Scint readings
------------------------------------------------------------
No samples taken
------------------------------------------------------------
All core showing significant total count scintillometer values was cut and
analyzed. Core samples were halved by sawing on site, with one half sent
for analysis and the other half retained for further study.
ABOUT THE CMB NORTHWEST 2 PROPERTY
The CMB northwest block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
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.
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 over 12,500 claims totaling approximately 3,100 square kilometers in Labrador, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Canada.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
For Further Information Contact:
SILVER SPRUCE RESOURCES
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
UNIVERSAL URANIUM
HEAD OFFICE:
Ron Atlas, Chairman
Phone: 604.662.3903
Fax: 604.662.3904
INVESTOR RELATIONS
Bill Galine, Director of Corporate
Communications
Phone: 604.662.3903 ext. 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
August 27, 2007 Clive Massey Resigns as President and CEO of Universal Uranium Ltd.
Vancouver, British Columbia, August 27, 2007- Universal Uranium's board of directors regrets to announce that Clive Massey, president and chief executive officer, is leaving the company effective August 31st, 2007.
In the interim the board of directors will be responsible for the overall management of the company while the company seeks a suitable replacement. The board wishes Mr. Massey the best in his future endeavors.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
August 23, 2007 Universal Uranium Ltd. gives overview of short-term investments
Vancouver, British Columbia, August 23, 2007- Universal Uranium Ltd. (TSX-V: UUL) had invested, on recommendation of its investment advisor, $1.45 million (CDN) in short- term triple AAA-rated asset- backed commercial paper.
There is currently a sixty day hold on the funds and it has been confirmed that the trust is a subsidiary of Coventree Capital Group Inc. Coventree Capital announced on August 13th 2007, as a result of recent disruptions in the global credit markets, that it was unable to meet its repayment obligations until its liquidity providers finance such repayments.
Universal Uranium's operations have not been impacted, and the company advises that it has sufficient cash available to maintain all of its work programs while this matter is resolved.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
August 03, 2007 Silver Spruce, Universal Uranium & Bayswater Uranium Enter into Joint Venture
Silver Spruce Resources Inc. and Universal Uranium Ltd. have jointly entered into a letter agreement with Bayswater Uranium Corp. dated effective July 20, 2007, whereby Bayswater has been granted an option to acquire a 50-per-cent interest in 34 mineral claims (8.5 square kilometres or 2,100 acres) located in the central mineral belt region of Labrador, Newfoundland, which is currently held 50 per cent by Silver Spruce and 50 per cent by Universal. The claims are covering a portion of, and adjoin, the Stipec River uranium trend of Bayswater in the historical central mineral belt uranium district in Labrador. Pursuant to the letter agreement, Bayswater is obligated to issue to Silver Spruce and Universal a total of 200,000 common shares (of which 100,000 shares will be issued to Silver Spruce and 100,000 shares will be issued to Universal unless otherwise agreed) and expend $100,000 upon the property by July 31, 2008.
Upon issuing the shares and making the required expenditures, Bayswater will be deemed to have exercised its option and acquired a 50-per-cent interest in the property, with Universal and Silver Spruce each holding a 25-per-cent interest in the property. A joint venture will then be formed between the parties with Bayswater acting as the operator.
The letter agreement is subject to the approval of the TSX Venture Exchange and the shares payable under the letter agreement, when issued of Bayswater, will be subject to a four-month hold period.
Bayswater has recently completed an airborne EM and magnetic survey over the Stipec River joint venture lands and is planning further prospecting, rock and soil sampling, and possibly drilling of favourable targets this year. In the news reported in Stockwatch July 12, 2007, Bayswater reported that: "The EM survey identified a 12-kilometre-long southwesterly trending conductive zone coincident with the Stipec River trend of uranium prospects (zone A, B, C, D and E). Numerous surface grab samples in 2006 from various prospects along this trend commonly assayed 0.1 per cent to 0.4 per cent U3O8." This favourable conductive zone occurs partly on the Stipec River joint venture land; however, the bulk of the favourable zone and all known uranium prospects are on claims in which Bayswater has a right to acquire a 100-per-cent interest from Longview Capital Partners Inc. under an option agreement. To date nine drill holes have been completed on the Stipec River zone A and E prospects on land subject to the Bayswater/Longview option. Assay results are pending from a number of radioactive zones identified in drill core from this drilling.
June 26, 2007 Detailed Sampling Discovers Highly Anomalous Lake Sediments on CMB JV Properties
Highlights
CMBNW block - values to 374 ppm uranium to the northeast of the Two Time showing area
Jacques Lake block - values greater than 200 ppm uranium in two areas
June 26 2007, Vancouver, BC./ Bridgewater, NS - Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce the results of detailed lake bottom geochemistry surveys on the CMB NW and Jacques Lake properties, part of the CMB joint venture.
The results indicate significant uranium anomalies on both properties. The CMBNW block returned values ranging from background (less than 17 ppm) to 374 ppm. Two significant anomalous areas were defined. The first area lies south of the Kanairikotok river and extends from the Near Miss showing continuing northeast to encompass the Two Time Zone and HF occurrence. The highest values, ranging from 6.5 to 374 ppm with 6 values greater than 100 ppm, are located further to the northeast in an unexplored area. In comparison, lake sediment values in the area of the Two Time showing, where drilling has defined an extensive zone of uranium mineralization, ranged from 9.8 to 44.9 ppm. The second area of anomalous samples was located to the north of Snegamook Lake, in the northwest portion of the property, with values ranging from 5.4 to 258 ppm and 3 values greater than 60 ppm. In this area an additional 56 claims were added to insulate the anomalous area as it is located near the boundary of the pre-existing CMBNW property.
At the Jacques Lake property values ranged from a high background of approximately 30 ppm, to 217 ppm. Two anomalous areas were defined. The first area lies to the north of Jacques Lake in the central / northeast portion of the property with values ranging from 14 to 207 ppm and 17 values greater than 50 ppm. The second area is located in the northwest corner of the property with values from 27 to 217 ppm and 2 values greater than 100 ppm.
Lloyd Hillier, President and CEO of Silver Spruce states: "The results of the lake bottom sediment sampling on the CMBNW block indicate the potential for continuity between the three known mineralized zones and the likelihood that mineralization may continue northeast to an unexplored area. We are also encouraged by the results from the Jacques Lake property and are optimistic that more uranium mineralization will be located as the summer work program continues."
Samples were analysed at Actlabs in Ancaster ON., by delayed neutron counting (DNC) for U and an ICP technique for other elements, the same techniques as for the government surveys which led to the staking of the properties. Government background uranium values for the area are less than 10 ppm. Plan maps of the lake sediment results for uranium are shown on Silver Spruce's and Universal Uranium's websites. Results for ICP remain pending.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-10
ABOUT THE CMB NORTHWEST and JACQUES LAKE PROPERTIES
The CMBNW and JACQUES LAKE blocks are part of the Silver Spruce/Universal Uranium CMB joint venture previously announced.
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.
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 over 9,500 claims totaling approximately 2,400 square kilometers in Labrador and over 5000 claims in the CMB, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. A large-scale exploration program on the company's properties in the summer of 2006 resulted in the first uranium discovery in October at the Two Time showing, from early stage follow up of the airborne surveys. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Labrador.
PLAN OF ARRANGEMENT
Under the terms of the previously announced June 15th, 2007 plan of arrangement Universal Uranium Ltd. and Silver Spruce Resources have agreed to consolidate all Canadian uranium properties into one company. Universal Uranium shareholders (as of the record date) will receive one share in Silver Spruce Resources Inc and one share in a new corporation created by spinning out Universal Uranium's US properties.
For Further Information Contact:
SILVER SPRUCE RESOURCES
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
INVESTOR RELATIONS
Sean Charland, Longview Capital Partners Inc.
Phone: 604.681.5755 ext. 291
E-mail: scharland@longviewcp.com
Web: www.longviewcp.com
UNIVERSAL URANIUM
HEAD OFFICE:
Clive Massey, CEO & Director
Phone: 604.662.3903
Fax: 604.662.3904
E-mail: cmassey@universaluranium.com
INVESTOR RELATIONS
Bill Galine, Director of Corporate Communications
Phone: 604.662.3903 ext. 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
June 21, 2007 32 meters of 0.103% U308 Discovered in Third Phase Drilling at Two Time Zone
Highlights
- Higher grade intersection of 32 m of 0.103% U3O8
- Narrow high grade intersections -- 2 m of 0.221 U3O8 and 1 m of 0.316% U3O8
- Wide zones of uranium mineralization intersected -- 109.2 m of 0.042% U3O8
June 21, 2007, Vancouver, BC. / Bridgewater, NS - Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce that the third phase drilling at the Two Time Zone, located on the CMBNW claim block to the east of Snegamook Lake in central Labrador, has further defined the uranium mineralization intersected in the December 2006 and the February/March 2007 diamond drilling programs. Results have been received from two drill holes (CMB-07-13 and 14). The new holes continue to expand and define the mineralization, along strike and to depth.
The drilling is targeting the Two Time uranium zone. The best mineralization, 109.2 m of 0.042% uranium oxide (U3O8) (0.84 lbs / ton) from 213.9 to 323.1 m, including 32 m at 0.103% U3O8 (2.06 lbs / ton) from 264.6 to 296.6 m, was located in DDH CMB-07-14 drilled on section 0+00. Section 0+00 is 50 m to the north of Section 0+50 S, which gave significant intersections in CMB-07-6 (see news release dated March 1, 2007) of 107 m of 0.052% (U3O8) (1.04 lbs/ton) from 172 to 279 m, including higher grade zones: 0.11% U3O8 (2.2 lbs / ton) over 30 m from 172 to 302 m including 0.312% U3O8 (6.24 lbs / ton) over 3.0 m from 172 to 175 m.
The higher grade intersections in CMB-07-14 are at a depth of approximately 200 m. As on Section 0+50 S, the zone appears to increase in grade to depth as at CMB-07-13, approximately 50 m ahead of CMB-07-14, which intersected the zone at approximately 150 m depth, gave 0.042% (0.84 lbs / ton) over 96.5 m from 136.2 to 232.7, including 0.11% U3O8 (2.2 lbs / ton) over 7 m from 161.2 to 168.2 m.
The host for the mineralization is an altered, brecciated and fractured felsic intrusive, monzonite to monzodiorite, which carries extensive chlorite, carbonate and hematite alteration. The mineralized zone appears to be near vertical to steeply dipping indicating that drill intersections are probably one half to two thirds true width.
"We continue to be excited by these results," stated Lloyd Hillier, President and CEO of Silver Spruce. "The results indicate the strength of the uranium mineralized system and the potential for a major uranium deposit on the CMBNW property."
The zone has been traced over a 200 m plus strike length from Line 1+25 N where CMB-06-2 gave 71.5 m of 0.015% U3O8 to Line 0+50 S, where CMB-06-5 gave 59.2 m of 0.024% U3O8. It appears to narrow to the north, where CMB-06-1 gave 15.8 m of 0.033% U3O8. Stronger mineralization is located in the southern portion of the grid where anomalous soil and lake sediment geochemistry indicates the zone may continue under a small pond. Diamond drilling is continuing and further results will be released as received.
Selected analytical values for the sections sampled are shown in Table 1. A plan map of the drilling, plus new Section 0+00 through DDH's 13 and 14, are shown on Universal Uranium and Silver Spruce's websites.
ANALYTICAL RESULTS
Diamond Drilling -- CMBNW Property -- Two Time Showing
June 2007
DDH #
From
To
Length
m
% U3O8
lbs / ton
U3O8
CMB-07-13
136.2
232.7
96.5
0.042
0.84
incl.
152.2
155.2
3.0
0.12
2.4
and
161.2
168.2
7.0
0.11
2.2
incl.
163.2
167.2
4.0
0.15
3.0
and
222.5
225.5
3.0
0.167
3.34
incl.
223.5
224.5
1.0
0.316
6.32
CMB-07-14
213.9
323.1
109.2
0.042
0.84
incl.
264.6
296.6
32.0
0.103
2.06
incl.
280.6
290.6
10.0
0.176
3.52
incl.
285.6
287.6
2.0
0.221
4.42
and
289.6
290.6
1.0
0.222
4.44
All core showing significant total count scintillometer values was cut and analyzed. Core samples were halved by sawing on site, with one half sent for analysis and the other half retained for further study. Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique, which gives accurate results for samples carrying up to one percent uranium.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
ABOUT THE CMB NORTHWEST 2 PROPERTY
The CMB northwest block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
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.
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 over 9,500 claims totaling approximately 2,400 square kilometers, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. A large-scale exploration program on the company's properties in the summer of 2006 resulted in the first uranium discovery in October from early stage follow up of the airborne surveys. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Labrador.
PLAN OF ARRANGEMENT
Under the terms of the previously announced June 15th, 2007 plan of arrangement Universal Uranium Ltd. and Silver Spruce Resources have agreed to consolidate all Canadian uranium properties into one company. Universal Uranium shareholders (as of the record date) will receive one share in Silver Spruce Resources Inc and one share in a new corporation created by spinning out Universal Uranium's US properties.
For Further Information Contact:
UNIVERSAL URANIUM
HEAD OFFICE:
Clive Massey, CEO & Director
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company seeks Safe Harbour.
June 15, 2007 Silver Spruce Resources Inc. And Universal Uranium Ltd. To Consolidate All Canadian Uranium Properties
Highlights
• Silver Spruce Resources Inc. and Universal Uranium Ltd. sign binding letter of intent.
• Universal Uranium Ltd. shareholders to receive one share in Silver Spruce Resources Inc. for every one share of Universal Uranium Ltd. held.
• Universal Uranium Ltd. to spin off US properties to its shareholders.
• Silver Spruce Resources Inc. to spin off all non-uranium properties to its shareholders.
June 15, 2007, Bridgewater, NS / Vancouver, BC --- Silver Spruce Resources Inc. (TSXV: SSE) and Universal Uranium Ltd. (TSXV: UUL) are pleased to announce that they have signed a binding letter of intent (the "Agreement") to consolidate all Canadian uranium properties pursuant to a plan of arrangement. This consolidation follows a discovery made by the joint venture partners announced March 1st on the Two Time Zone in the Labrador Central Mineral Belt.
Pursuant to the Agreement, Universal Uranium Ltd. with its Canadian uranium assets, will become a wholly owned subsidiary of Silver Spruce Resources Inc. Silver Spruce Resources Inc. shall be the 100% owner of all Canadian uranium assets belonging to both Universal Uranium Ltd. and Silver Spruce Resources Inc. The resulting entity will continue under the name "Silver Spruce Resources Inc." and its shares will continue to be listed and posted for trading on the TSX Venture Exchange as "SSE". Universal Uranium Ltd.'s U.S. assets will be spun out to shareholders as a new company. Silver Spruce Resources Inc. will also spin off its non-uranium properties and related assets to its shareholders in the form of a new "company". Silver Spruce Resources Inc., and its subsidiary, Universal Uranium Ltd., Boards of Directors after this consolidation will each consist of four members from Silver Spruce Resources Inc., four members from Universal Uranium Ltd. and one mutually agreed independent director.
In accordance with the Agreement, Universal Uranium Ltd. shareholders will receive one Silver Spruce Resources Inc. common share for every Universal Uranium Ltd. common share held, equal to 50% of Silver Spruce Resources Inc. on a fully diluted basis. Universal Uranium Ltd. warrant holders will receive a warrant of Silver Spruce Resources Inc. on the same terms and expiry of warrants currently held with Universal Uranium Ltd.
The immediate objective of both Silver Spruce Resources Inc. and Universal Uranium Ltd. is to finalize and execute definitive agreements reflecting the above as soon as possible. This definitive agreement will be subject to due diligence, compliance with all applicable legal, shareholder, TSX Venture and regulatory approvals and finalization in mutually satisfactory form of definitive agreements contemplated thereby. Closing is expected by October 31, 2007 subject to extension.
ABOUT UNIVERSAL URANIUM LTD.
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. Universal Uranium Ltd. is led by a highly skilled, experienced board and management team with significant successes in managing early stage mineral exploration companies.
ABOUT SILVER SPRUCE RESOURCES INC.
Silver Spruce Resources Inc. (TSXV: SSE) is a junior mining exploration company primarily focused on uranium in the Central Mineral Belt ("CMB") of Labrador, Canada. With over 5,000 claims totalling more than 1,250 square kilometres, Silver Spruce Resources Inc. is the second largest land holder in one of the world's premier emerging uranium districts. In the 12 months commencing summer 2006, Silver Spruce Resources Inc. is planning a large scale exploration program on its CMB and area properties at a cost of more than $2 million. With experienced development partners and strong financial backing, Silver Spruce Resources Inc. is emerging as a leading uranium explorer in Central Labrador.
For Further Information Contact:
UNIVERSAL URANIUM LTD.
Head Office:
Clive Massey, CEO & Director
Phone: 604.662.3903
Fax: 604.662.3904
Email: cmassey@universaluranium.com
INVESTOR RELATIONS
Bill Galine, Director of Corporate Communications
Phone: 604.662.3903 ext. 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
SILVER SPRUCE RESOURCES INC.
Head Office:
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresouces.com
Sean Charland, Longview Capital Partners Inc.
Phone: 604.681.5755 ext. 291
E-mail: scharland@longviewcp.com
Web: www.longviewcp.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Each Company seeks Safe Harbour.
May 15, 2007 Third Phase Drill Program Starts on CMB NW Property
- Drilling resumes at Two Time Zone, minimum 8,000 metre contract
- Lake sediment survey completed on Jacques Lake property
May 15, 2007, Vancouver, BC. / Bridgewater, NS - Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce that the minimum 8,000 metre contract for diamond drilling on the Two Time Zone has begun. Mobilization to the site by the contractor Lantech Drilling Ltd. of Dieppe, New Brunswick, was completed on May 12 and drilling began on May 13.
The drilling is designed to test the Two Time Zone to depth and along strike with the aim of defining a uranium resource by late summer. Infill and definition drilling at 50 metre centres will define the size and grade of the zone while drilling to the north and south along strike will determine the extent of the zone.
Two previous drilling campaigns on the Two Time Zone, in December 2006 and February 2007, intersected uranium mineralization in 11 of 12 widely spaced drill holes outlining a significant mineralized zone. The zone, which remains open along strike and to depth, was traced for 300 metres and to a depth of 250 metres. Values of 0.11% U3O8 over 30 metres within a wider zone of mineralization containing 0.052% U3O8 over 107 metres was located (refer to news release dated March 1, 2007).
The uranium mineralization is hosted in an altered, brecciated and fractured, felsic intrusive, of monzonitic to monzodioritic composition, which carries extensive hematite, chlorite, and carbonate. The zone appears similar to large, iron oxide copper gold (IOCG) style, hematite breccia deposits, such as Olympic Dam in Australia, the world's largest uranium deposit.
"This third phase drill program will better define the Two Time Zone, and potentially allow us to build a National Instrument 43-101 compliant resource by late summer," stated Lloyd Hillier, President and CEO of Silver Spruce Resources.
A detailed lake sediment sampling program has been completed on the Jacques Lake property to follow up on the widely spaced, lake sediment anomalies originally defined by government surveys. A total of 234 samples were collected and have been sent to Activation Laboratories in Ancaster, Ontario, to be analyzed for uranium content by delayed neutron counting (DNC) and other elements by inductively coupled plasma (ICP). Results will be reported when received.
The CMBNW and Jacques Lake properties are located in the Central Mineral Belt of Labrador, and lie along strike, and in proximity to, properties held by Aurora Energy Inc., Crosshair Exploration and Mining and the Santoy/Monster Copper JV. The CMB is one of the most active uranium exploration areas in Canada, driven by the success of Aurora Energy on its Michelin and Jacques Lake deposits, where approximately 100 million pounds of uranium have been defined (Aurora news release, February 13, 2007.)
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
ABOUT THE CMB JV PROPERTIES
The CMB NW and Jacques Lake blocks are part of the Silver Spruce/Universal Uranium Ltd. CMB/Seal Lake joint venture previously announced. Under the terms of this agreement, Universal Uranium has earned a 60 percent interest in the properties by spending $2 million on exploration. Silver Spruce retains 40 percent of the project and is the operator of the joint venture.
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.
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 over 8,500 claims totaling more than 2,100 square kilometres, Silver Spruce is the one of the largest landholder in one of the world's premier emerging uranium districts. A large-scale exploration program in the summer of 2006 resulted in the first uranium discovery in October (Two Time zone) in early stage follow up of the airborne surveys. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Labrador.
For Further Information Contact:
SILVER SPRUCE RESOURCES
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
INVESTOR RELATIONS
Sean Charland, Longview Capital Partners Inc.
Phone: 604.681.5755 ext. 291
E-mail: scharland@longviewcp.com
Web: www.longviewcp.com
UNIVERSAL URANIUM
HEAD OFFICE:
Clive Massey, CEO & Director
Communications
Phone: 604.662.3903
Fax: 604.662.3904
Email: cmassey@universaluranium.com
INVESTOR RELATIONS
Bill Galine, Director of Corporate
Communications
Phone: 604.662.3903 ext 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company seeks Safe Harbour.
April 25, 2007 Drilling to Resume at Two Time Zone, Minimum 8,000 Metre Drill Contract Awarded
Exploration Update
- Drilling to resume on Two Time Uranium Zone in early May
- Lake sediment survey completed on CMB NW property
- Lake sediment survey begins on Jacques Lake property
April 25, 2007, Vancouver, BC./ Bridgewater, NS- Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce a minimum 8000 metre contract for diamond drilling on the Two Time Zone. The contract has been awarded to Lantech Drilling Ltd. of Dieppe, New Brunswick and mobilization to the CMB NW property is planned for early May. Lantech will use an "LDS-1000" drill rig with a depth capacity of 900 metres, to test the extensions of the Two Time Zone along strike and to depth. The definition/infill drilling on the Two Time Zone will target the known mineralization and give an indication of the size and grade of the zone. Drilling will also be carried out to the north and south of the zone along strike.
Two previous drilling campaigns on the Two Time Zone, in December 2006 and February 2007, intersected uranium mineralization in 11 of 12 drill holes and outlined a significant mineralized zone. This zone, which remains open along strike and to depth, was traced for 300 metres and to a depth of 250 metres. The zone had values of 0.11% U3O8 over 30 metres within a wider zone of mineralization containing 0.052% U3O8 over 107 metres (refer to news release dated March 1, 2007). The uranium mineralization is hosted in an altered, brecciated and fractured, felsic intrusive, of monzonitic to monzodioritic composition, which carries extensive hematite, chlorite, and carbonate. The zone appears similar to large, iron oxide copper gold (IOCG) style, hematite breccia deposits, such as Olympic Dam in Australia, the world's largest uranium deposit.
Ground geophysical, prospecting and mapping surveys will be completed over the property mainly to the south of the Kanairiktok River. Work will commence once the snow melts and cut control lines can be established. In addition, proposals for a uranium ground survey (RadonEx), have been solicited for the mineralized area and along strike to both the north and south. The RadonEx survey is one of the most efficient ground radon surveying system available, with results available within days of planting the collection cups. "The new drilling program will move us closer to proving the presence of a large economic uranium deposit," Lloyd Hillier, President and CEO of Silver Spruce states. "In addition, the use of new exploration techniques such as the RadonEx survey, will give us the best and most efficient methods of evaluating our uranium properties in the CMB."
A detailed lake sediment sampling program has been completed over the entire CMB NW property, to follow up on the original government widely spaced, lake sediment anomalies. A total of 278 samples were collected and will be sent to Activation Laboratories in Ancaster, Ontario, to be analyzed for uranium content by delayed neutron counting (DNC) and other elements by inductively coupled plasma (ICP). Results will be reported when received. Detailed lake sediment sampling on the Jacques Pond claim group located adjacent and to the north of the Aurora Energy Jacques Pond property, will begin this week.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
April 11, 2007 Universal Uranium and Silver Spruce Announce Further Significant Mineralization at Two Time Zone
Highlights
- Wide zone of uranium mineralization intersected -- 147 m of 0.041% (0.82 lbs/ton) U3O8
- Higher grade intersections -- 11 m at 0.11% (2.2 lbs/ton) and 7 m at 0.12 % (2.4 lbs/ton) U3O8
April 11, 2007, Vancouver, BC / Bridgewater, NS---Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE; Frankfurt: S6Q) are pleased to announce that further drilling at the Two Time Zone has expanded the wide zone of uranium mineralization reported in the March 1, 2007 press release. The second phase of drilling consisted of six holes totaling 2,442 meters and the results indicate that the previously discovered zone is potentially much larger than originally anticipated. A total of 3,254 meters have been drilled since December 2006.
The phase two drill program targeted the Two Time Zone, a radioactive anomaly, located on the CMBNW claim block, to the east of Snegamook Lake in central Labrador. Drill hole CMB-07-12, which targeted an area 50 m below the wide mineralized intersection in CMB-07-06 (107 m of 0.052% U3O8), intersected 147 m of 0.047% U3O8 including two intersections grading over 0.1% U3O8 : 0.11% over 11 m and 0.12% over 7 m. These mineralized intersections are the deepest to date and indicate the zone has good continuity to depth. Mineralization is hosted in an altered, brecciated and fractured, felsic intrusive, of monzonitic to monzodioritic composition, which carries extensive hematite, chlorite, and carbonate. The zone appears 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.
"We're excited by the wide mineralized intersections," stated Lloyd Hillier, President and CEO of Silver Spruce. "These latest results indicate the likelihood of an extensive, large, uranium deposit in the area."
The Two Time Zone has been traced over a 300 meter plus strike length by prospecting and near surface drilling, from the cliff (discovery) zone near 2+75 N, through CMB-06-1 at 2+25 N, which gave 15.8 m of 0.033% U3O8, to CMB-06-2 near 1+25 N which gave 71.5 m of 0.015% U3O8 to 0+50 S, where CMB-06-5 gave 59.2 m of 0.024% U3O8. It appears to narrow to the north, based on the results from CMB-06-1 but remains open. Two holes in the second phase drilling, CMB-07-10, located 75 m to the north of CMB-07-06 and 12 near 0+25 N, intersected 35 m of 0.026% U3O8 including a 4 m section of 0.104% U3O8. DDH CMB-07-11, also on 0+25 N, which targeted the zone 50 m below CMB-07-10, intersected a 35 m zone giving 0.034% U3O8, but was terminated at 378 m just prior to intersecting the, higher grade, main target zone, due to unfavorable ground conditions.
The zone appears to be near vertical to steeply dipping to the east at 75 to 80 degrees, indicating that drill intersections are probably two thirds true width. Further infill drilling is required to accurately determine the true width of the zone.
Modeling of the drill hole data with Surpac Xplorpac, shows the uranium zone has excellent strike and depth continuity and is open along strike and to depth. It also indicates a number of dextral, normal faults that have offset the zone along strike, including to the south where DDH CMB-07-7 did not intersect the mineralized zone although it did encounter uranium values (5 m of 0.061% U3O8) in a fault/shear structure. The mineralization appears to be stronger in the southern part of the zone, where it appears to be offset to the west. Anomalous soil and lake bottom geochemistry indicate the zone may continue to the south under a small pond.
A possible mineralized zone has been located approximately 2.5 km to the east-northeast of the Two Time zone by prospecting. The HF occurrence, an angular boulder giving a value of 0.114 % U3O8, was located in a stream just below a pond, during the fall prospecting / stream sediment sampling survey. Gridding and ground follow up is planned for this area as soon as field conditions permit.
A detailed lake sediment sampling survey is being carried out on the CMBNW property during the winter. This survey is designed to better localize anomalous areas for ground follow up in the summer program. Results will be released when they are received.
As a result of the positive results from the Phase II drilling on the Two Time zone, the JV partners have called for bids for an 8,000 meter drill contract to further define the Two Time Zone along strike and to depth. The drilling is also planned to allow testing of other areas of mineralization as they are defined, such as the newly discovered HF occurrence to the northeast. The drilling is planned to begin in late April to early May. In addition, line cutting, geochemical, geophysical, geological mapping and prospecting surveys will begin as soon as conditions permit, to aid in the delineation of the Two Time zone and other undiscovered / unevaluated zones in the area.
Selected analytical values for the drilling are shown in the table below. A plan map of the drilling to date, a section through DDH's 5, 6 and 12, and a plan showing proposed work areas on the CMBNW property for the summer of 2007 are shown on Silver Spruce's and Universal Uranium's websites.
TABLE 1
SELECTED ANALYTICAL RESULTS
Diamond Drilling - CMBNW Property - Two Time Showing
---------------------------------------------------------------
DDH # From To Length U3O8
CMB-07- m % lbs/ton
---------------------------------------------------------------
07 207.0 212.0 5.0 0.061 1.22
incl. 208.0 211.0 3.0 0.097 1.94
--------------------------------------------------------------
08 - lost in overburden
---------------------------------------------------------------
08A 281.0 300.0 19.0 0.021 0.42
---------------------------------------------------------------
09 123.0 132.0 9.0 0.021 0.42
---------------------------------------------------------------
10 163.0 198.0 35.0 0.026 0.52
incl. 192.0 196.0 4.0 0.104 2.08
---------------------------------------------------------------
11 231.0 266.0 35.0 0.034 0.68
incl. 242.0 257.0 15.0 0.044 0.88
Target zone at 266 m intruded by mafic dyke, hole lost at 378 m,
due to bad ground conditions
---------------------------------------------------------------
12 232.0 379.0 147.0 0.04 0.82
incl. 232.0 320.0 88.0 0.05 1.02
incl. 262.0 305.0 43.0 0.07 1.40
incl. 266.0 277.0 11.0 0.11 2.20
incl.. 299.0 306.0 7.0 0.12 2.40
--------------------------------------------------------------
All core showing significant scintillometer values was cut and analyzed. Core samples were halved by sawing on site, with one half sent for analysis and the other half retained for further study. Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique, which gives accurate results for samples carrying up to one percent uranium.
April 03, 2007 Universal Uranium Ltd Completes Sixty-Per-Cent Earn In On Labrador Claims With Silver Spruce Resources
Universal Uranium Ltd. has completed its 60-per-cent earn-in on the 6,517 claims in the Labrador Central mineral belt, held by Silver Spruce Resources. Under the terms of the property acquisition agreement dated Feb. 6, 2006, Universal Uranium has now completed its earn-in by spending a total of $2-million, as a result the company now owns 60 per cent of the joint venture with Silver Spruce owning the remaining 40 per cent. These claims are located in the Labrador Central mineral belt and are home to the recent discovery announced in Stockwatch March 1 at the Two Time zone which consisted of 30 metres of 0.11 per cent U308 with grades as high as 1.19 per cent.
March 06, 2007 Pinetree Capital Ltd. Acquires Common Shares Of Universal Uranium Ltd.
Pinetree Capital Ltd., through a series of transactions ending on March 5, 2007, has acquired ownership of 2,945,000 common shares of Universal Uranium Ltd. through the facilities of the TSX Venture Exchange, representing approximately 8.3 per cent of the total issued and outstanding common shares of Universal as of March 5, 2007. As a result of this transaction, Pinetree held, as at March 5, 2007, a total of 3,695,000 common shares of Universal, representing approximately 10.4 per cent of all issued and outstanding common shares as at March 5, 2007.
These transactions were made for investment purposes, and Pinetree and each of its joint actors could increase or decrease their respective investments in Universal depending on market conditions or any other relevant factor.
March 01, 2007 30 Meters of 0.11% U308 Discovered at Two Time Zone
Highlights
- Higher grade intersection of 30m of 0.11% U3O8
- Wide zone of uranium mineralization intersected - 107m of 0.052% U3O8
- Highest grade intersection to date -- 3m of 0.312% U3O8 including 1.19% over 0.4m
March 1, 2007, Vancouver, BC./ Bridgewater, NS - Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce that continued drilling at the Two Time Zone, located on the CMBNW claim block, to the east of Snegamook Lake in central Labrador, has further defined the wide zone of uranium mineralization intersected in the December diamond drilling program. Results have been received from one new drill hole, and the extension of another. The new hole, CMB-07-6, gives the highest grades and thickest widths discovered to date.
The drilling targeted a radioactive anomaly, the Two Time Zone. The best mineralization was located in DDH CMB-07-6 drilled under DDH CMB-06-5 at a 50 degree dip, intersecting the zone between 150m and 200m deep. This hole intersected 107m of 0.052% uranium oxide (U3O8) from 172m to 279m, including higher grade zones: 0.11% U3O8 over 30m from 172m to 302m including 0.312% U3O8 over 3.0m from 172m to 175m. This is the deepest intersection to date and indicates that the zone may be increasing in size and grade to depth. The host for the mineralization is an altered, brecciated and fractured felsic intrusive, monzonite to monzodiorite, which carries extensive chlorite, carbonate and hematite alteration.
"We are very excited by this new discovery," stated Lloyd Hillier, President and CEO of Silver Spruce. "These results further indicate the potential presence of a large economic uranium deposit on our ground."
At the start of the 2007 drill program, DDH CMB-06-5 was extended 85.4m from 140.2m to 225.6 m. Uranium mineralization was located in the interval between 170m and 195m giving three zones, two grading 0.02% to 0.03% U3O8 and the third zone graded 0.088% U3O8 over 3.4m from 180.8m to 184.2m.
The uranium zone appears to be near vertical to steeply dipping to the east at 75 to 80 degrees, indicating that drill intersections are probably one half to two thirds true width.
The zone has been traced over a 200m plus strike length from Line 1+25 N where CMB-06-2 gave 71.5m of 0.015% U3O8 to Line 0+50 S, where CMB-06-5 gave 59.2m of 0.024% U3O8. It appears to narrow to the north, where CMB-06-1 gave 15.8m of 0.033% U3O8. Stronger mineralization is located in the southern portion of the grid where anomalous soil geochemistry indicates the zone may continue under a small pond. A total of five shallow holes at -45 degrees dip, totaling 812m, tested the zone in December. The two holes reported on in this press release bring the total drilled to 1257 m in 6 drill holes. Diamond drilling is continuing and further results will be released as received.
Selected analytical values for the sections sampled are shown in the table below. A plan map of the drilling, plus a section through DDH's 3, 5 and 6, are shown on Silver Spruce's and Universal Uranium's websites.
TABLE 1
ANALYTICAL RESULTS
Diamond Drilling -- CMBNW Property -- Two Time Showing
DDH #
From
To
Length
m
% U3O8
lbs / ton
U3O8
CMB-06-1
41.7
57.5
15.8
0.0326
0.65
incl.
41.7
44.8
3.1
0.0494
0.99
incl.
42.9
43.6
0.7
0.14
2.8
incl.
42.9
43.1
0.2
0.28
5.66
incl.
51.3
53.3
2.0
0.0546
1.09
CMB-06-2
90.0
161.5
71.5
0.0148
0.30
“
126.2
126.6
0.4
0.104
2.08
“
136.1
139.9
3.8
0.0394
0.79
CMB-06-3
83.5
165.9
82.4
0.0211
0.42
“ incl.
83.5
107.5
24.0
0.0404
0.81
“ incl.
86.8
93.7
6.9
0.0561
1.12
“
100.8
102.4
1.6
0.13
2.6
“
106.1
107.5
1.4
0.13
2.6
“
159.8
161.9
2.1
0.0766
1.53
CMB-06-4
No
Samples
Taken
CMB-06-5
44.0
103.2
59.2
0.0238
0.48
46.0
56.0
10.0
0.0417
0.83
97.2
97.5
0.3
0.1639
3.28
CMB-06-5 ext
169.9
172.0
2.1
0.021
0.42
180.8
184.2
3.4
0.088
1.76
189.6
195.2
5.6
0.031
0.62
CMB-07-6
172.0
279.0
107.0
0.052
1.04
incl.
172.0
202.0
30.0
0.11
2.2
incl.
172.0
175.0
3.0
0.312
6.24
incl.
177.3
173.7
0.4
1.19
23.8
and
179.0
187.0
8.0
0.137
2.74
and
192.0
198.0
6.0
0.143
2.86
303.0
307.0
4.0
0.05
1.0
All core showing significant scintillometer values was cut and analyzed. No samples were taken from CMB-06-4 since scintillometer values were low and felsic/mafic units were interfingered. Core samples were halved by sawing on site, with one half sent for analysis and the other half retained for further study. Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique, which gives accurate results for samples carrying up to one percent uranium.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
ABOUT THE CMB NORTHWEST 2 PROPERTY
The CMB northwest block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
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.
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 over 8,500 claims totaling more than 2,100 square kilometers, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. A large-scale exploration program on the company's properties in the summer of 2006 resulted in the first uranium discovery in October from early stage follow up of the airborne surveys. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Labrador.
For Further Information Contact:
UNIVERSAL URANIUM
HEAD OFFICE:
Clive Massey, CEO & Director
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. The Company seeks Safe Harbour.
February 06, 2007 Phase Two Drilling Begins at Two Time Zone
Universal Uranium Ltd. (TSX-V UUL) (the "Company") and its joint venture partner Silver Spruce Resources Inc. (TSXV: SSE), is are pleased to announce that diamond drilling has resumed on the Two Time Zone located on the CMBNW claim block east of Snegamook Lake in Labrador.
The fully winterized camp was expanded and reactivated early last week. Drilling began on Friday, February 2 with a total of 1,500 m of drilling scheduled for this second phase program. The first phase of drilling, completed in December 2006, consisted of 812 m.
"I am pleased to announce the start of this second phase of drilling on the Two Time Zone," stated Lloyd Hillier, President and CEO of Silver Spruce. "With our initial discovery of a wide zone of uranium in December, we are excited to aggressively follow-up with a more comprehensive drill program. Our first phase provided us with new information that we can use and build upon during this second phase."
The first phase of exploration drilling defined a wide zone of low grade uranium mineralization in three of five holes with the best mineralization located in DDH CMB-06-3, which gave 82.4 m of 0.021% uranium oxide (U3O8) from 83.5 m to 165.9 m, including two higher grade zones of 0.13% U3O8 over 1.6 m from 100.8 m to 102.4 m and 0.13% U3O8 over 1.4 m from 106.1 m to 107.5 m (see press release dated January 30, 2007). The host for the mineralization is a brecciated/fractured felsic intrusive, carrying extensive chlorite, carbonate and hematite alteration.
The zone extends over a 175 m length from Line 1+25 N to Line 0+50 S, remaining open to the south and possibly to the north. The second phase drill program will test the zone along strike and to depth. Results are expected by late March.
January 30, 2007 Wide Zone of Mineralization Discovered at Two Time Zone
NR07-03
- Higher grade values to 0.13% U3O8 over 1.6m, 0.28% U3O8 over 0.2m
- Wide zone of shallow uranium mineralization - up to 82m of 0.021% U3O8
January 30, 2007, Vancouver, BC. / Bridgewater, NS - Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce that further analysis of drill core from the Two Time showing, located on the CMBNW claim block east of Snegamook Lake in Labrador, has defined a wide zone of low grade uranium mineralization in three of five holes. The best mineralization was located in DDH CMB-06-3, which gave 82.4m of 0.021% uranium oxide (U3O8) from 83.5m to 165.9m, including two higher grade zones of 0.13% U3O8 over 1.6m from 100.8m to 102.4m and 0.13% U3O8 over 1.4 m from 106.1m to 107.5m (see previous press release dated January 4, 2007). The host for the mineralization is a brecciated/fractured felsic intrusive, carrying extensive chlorite, carbonate and hematite alteration.
The zone extends over a 175m length from Line 1+25 N where CMB-06-2 gave 71.5m of 0.015% U3O8 from 90m to 161.5m to Line 0+50 S, where CMB-06-5 gave 59.2 m of 0.024% U3O8 from 44m to 103.2m. It remains open to the south and appears to narrow to the north, where CMB-06-1 gave 15.8m of 0.033% U3O8 from 41.7m to 57.5m including 0.28% U3O8 over 0.2m from 42.9 to 43.1m. The better mineralization is located in the southern portion of the grid where anomalous soil geochemistry indicates the zone may continue under a small pond. A total of five shallow holes at -45 degrees dip, totaling 812m, tested the zone.
"We are pleased with these continuing results which indicate that an extensive and strong uranium mineralized system exists on the property" states Lloyd Hillier, President & CEO of Silver Spruce Resources. "Further work is definitely warranted to evaluate this newly discovered zone which remains open."
The drilling targeted an anomalous radioactive zone, the Two Time Zone, covering an area of 300 meters by 50 meters. The locations of the drill holes and selected analytical values for the sections sampled are shown in Table 1 attached. A plan map of the drilling is shown on Silver Spruce's and Universal Uranium's websites. Further follow up by diamond drilling is planned as soon as permits are received, thought to be by the end of January. The drill remains on site and the fully winterized camp can be reactivated on short notice.
Core samples were halved by sawing, with one half sent for analysis and the other half retained for further study. Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique, which gives accurate results for samples carrying up to one percent uranium.
TABLE 1
ANALYTICAL RESULTS
Diamond Drilling -- CMBNW Property -- Two Time Showing
DDH #
From
To
length
% U 3O 8
lbs / ton U 3O 8
CMB-06-1
41.7
57.5
15.8
0.0326
0.65
incl.
41.7
44.8
3.1
0.0494
0.99
incl.
42.9
43.1
0.2
0.14
2.8
incl.
51.3
53.3
2.0
0.0546
1.09
CMB-06-2
90.0
161.5
71.5
0.0148
0.30
“
126.2
126.6
0.4
0.104
2.08
“
136.1
139.9
3.8
0.0394
0.79
CMB-06-3
83.5
165.9
82.4
0.0211
0.42
“ incl.
83.5
107.5
24.0
0.0404
0.81
“ incl.
86.8
93.7
6.9
0.0561
1.12
“
100.8
102.4
1.6
0.13
2.6
“
106.1
107.5
1.4
0.13
2.6
“
159.8
161.9
2.1
0.0766
1.53
CMB-06-4
No
Samples
Taken
CMB-06-5
44.0
103.2
59.2
0.0238
0.48
46.0
56.0
10.0
0.0417
0.83
97.2
97.5
0.3
0.1639
3.28
All core showing significant scintillometer values has been cut and analyzed. No samples were taken from CMB-06-4 since scintillometer values were low and felsic/mafic units were interfingered although sampling is planned. The orientation of the zone and therefore the true width of the drill intersections remains unknown.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
ABOUT THE CMB NORTHWEST 2 PROPERTY
The CMB northwest block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced.
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.
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 over 8,500 claims totaling more than 2,100 square kilometers, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. A large-scale exploration program on the company's properties in the summer of 2006 resulted in the first uranium discovery in October in early stage follow up of the airborne surveys. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Labrador.
For Further Information Contact:
UNIVERSAL URANIUM
HEAD OFFICE:
Clive Massey, CEO & Director
Phone: 604.662.3903
Fax: 604.662.3904
Email: cmassey@universaluranium.com
INVESTOR RELATIONS
Bill Galine, Director of Corporate
Communications
Phone: 604.662.3903 ext 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The Company seeks Safe Harbour.
January 26, 2007 Universal Intersects Additional Mineralization During Phase II Drilling
News Release 07-02
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce the completion of eight holes (20,500 feet of drilling) in Phase II of the ongoing exploration program at the Lisbon Valley Property. These eight holes were the first ever drilled in the area. Holes 13, 14, 15, 16, and 17 intersected zones of enriched uranium content greater than 50 ppm at the base of the Chinle formation. The Chinle sandstones in the majority of areas tested by both phases of drilling have encountered reduced conditions necessary for the formation of sandstone hosted uranium deposits.
The addition of these five mineralized holes brings the total number of holes with mineralization in both Phases I and II to eleven with ten holes remaining to be drilled in Phase II. Our technical team feels confident that the potential exists for a uranium ore belt of magnitude to underlie our claim block on the eastern flank of the Lisbon Valley Anticline.
The data generated by this round of drilling will allow a more detailed and thorough understanding of the geological conditions that exist in this previously untested area. The results from both phases of drilling are currently being studied and will further define the favorable areas for mineralization on the downthrown eastern flank of the Lisbon Valley Anticline.
For all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
T: 604 662 3903 x 107
F: 604 662 3904
Request Info Package:
E: info@universaluranium.com
January 04, 2007 Universal & Silver Spruce Intersect Mineralization
NR07-35
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that they have intersected uranium mineralization in four of the five holes drilled in December on the Two Time Zone, located on the CMB Northwest claim block east of Snegamook Lake. A total of 812 meters were drilled during this program.
All four holes gave narrow zones grading over 0.1% uranium oxide (U3O8) within wider zones of lower grade mineralization. The best mineralization was located in the southern portion of the grid at drill hole CMB-06-3 where two sections graded 0.13% U3O8 over 1.6 meters from a depth of 100.8 to 102.4 meters, and over 1.4 meters, from a depth of 106.1 to 107.5 meters. The mineralized zone appears to be cut off to the north, possibly by faulting, but remains open to the south where anomalous soil geochemistry indicates the zone may continue under a small pond. Mineralization is associated with a brecciated/fractured felsic intrusive with extensive chlorite and hematite alteration that is at least 50 meters wide.
"We are pleased with these initial results which indicate that a strong uranium mineralized system exists on the property," stated Lloyd Hillier, President & CEO of Silver Spruce Resources. "The success of this early stage drill program shows that we are very likely close to a new uranium discovery."
The drilling targeted an anomalous radioactive zone, the Two Time Zone, covering an area of 300 meters by 50 meters. Channel/chip sampling in November gave anomalous values in all trenches with the highest grades located in Trench 5 which gave 0.032% U3O8 over five meters, including 0.051% U3O8 over one meter. Grades from the drilling are higher than those located in the trench/channel sampling. The locations of the drill holes and the selected analytical values for sections sampled are shown in the table below and the map can be viewed on the company website at: www.univeraluranium.com. The drill remains onsite in preparation for further drilling during the winter of 2007.
Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique, which gives good results for samples carrying up to one percent uranium.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
ANALYTICAL RESULTS -- Selected Samples
Diamond Drilling -- CMBNW Property -- Two Time Zone
DDH #
From
To
length
% U 3O 8
CMB-06-1
41.7
44.8
3.1
0.0494
“ incl.
42.9
43.1
0.2
0.14
“
44.8
47.2
2.4
0.0345
“ incl.
44.8
46.3
1.5
0.0461
“
49.1
54.3
5.2
0.0347
“ incl.
51.3
53.3
2.0
0.0546
“
67.6
67.8
0.2
0.0862
CMB-06-2
93.7
94.9
1.2
0.0304
“
126.2
126.6
0.4
0.104
“
136.1
139.9
3.8
0.0394
“
148.7
151.1
2.4
0.0277
CMB-06-3
86.8
90.5
3.7
0.0542
“
91.8
94.7
2.9
0.0525
“
100.8
102.4
1.6
0.13
“
106.1
107.5
1.4
0.13
“
159.8
161.9
2.1
0.0766
CMB-06-4
No
Samples
Taken
CMB-06-5
46.0
46.5
0.5
0.089
“
48.9
49.4
0.5
0.067
52.6
53.6
1.0
0.0775
55.0
56.0
1.0
0.0577
73.2
73.8
0.6
0.0428
80.0
81.3
1.3
0.0437
84.2
85.1
0.9
0.0386
88.8
89.1
0.3
0.0636
89.5
90.1
0.6
0.0409
97.2
97.5
0.3
0.1639
102.8
103.2
0.4
0.0367
Samples were taken based on anomalous total count scintillometer values on individual core samples, away from any mass effect. Samples are not continuous and sampled/unsampled core, with lower scintillometer readings, lies between the sampled sections. All core samples in the vicinity of mineralized zones will be sent for analysis early in the new year to allow a calculation of total grades over the total drilled width of the zone. The orientation of the zone, and therefore the true width of the drill intersections, remains unknown at this time.
For all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
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January 04, 2007 Universal Uranium & Silver Spruce Resources Intersect Uranium Mineralization at Two Time Zone
Highlights
- Uranium mineralization intersected in four of five drill holes
- Values to 0.13 % U3O8 over 1.6 meters
January 4, 2007, Vancouver, BC & Bridgewater, NS -- Universal Uranium Ltd. (TSXV: UUL) and Silver Spruce Resources Inc. (TSXV: SSE) are pleased to announce that they have intersected uranium mineralization in four of the five holes drilled in December on the Two Time Zone, located on the CMB Northwest claim block east of Snegamook Lake. A total of 812 meters were drilled during this program.
All four holes gave narrow zones grading over 0.1% uranium oxide (U3O8) within wider zones of lower grade mineralization. The best mineralization was located in the southern portion of the grid at drill hole CMB-06-3 where two sections graded 0.13% U3O8 over 1.6 meters from a depth of 100.8 to 102.4 meters, and over 1.4 meters, from a depth of 106.1 to 107.5 meters. The mineralized zone appears to be cut off to the north, possibly by faulting, but remains open to the south where anomalous soil geochemistry indicates the zone may continue under a small pond. Mineralization is associated with a brecciated/fractured felsic intrusive with extensive chlorite and hematite alteration that is at least 50 meters wide.
"We are pleased with these initial results which indicate that a strong uranium mineralized system exists on the property," stated Lloyd Hillier, President & CEO of Silver Spruce Resources. "The success of this early stage drill program shows that we are very likely close to a new uranium discovery."
The drilling targeted an anomalous radioactive zone, the Two Time Zone, covering an area of 300 meters by 50 meters. Channel/chip sampling in November gave anomalous values in all trenches with the highest grades located in Trench 5 which gave 0.032% U3O8 over five meters, including 0.051% U3O8 over one meter. Grades from the drilling are higher than those located in the trench/channel sampling. The locations of the drill holes and the selected analytical values for sections sampled are shown in the table below and the map can be viewed on the company website at: www.univeraluranium.com. The drill remains onsite in preparation for further drilling during the winter of 2007.
Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique, which gives good results for samples carrying up to one percent uranium.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration, Silver Spruce Resources Inc., who is a Qualified Person (QP) as defined in National Instrument 43-101.
ANALYTICAL RESULTS -- Selected Samples
Diamond Drilling -- CMBNW Property -- Two Time Zone
Samples were taken based on anomalous total count scintillometer values on individual core samples, away from any mass effect. Samples are not continuous and sampled/unsampled core, with lower scintillometer readings, lies between the sampled sections. All core samples in the vicinity of mineralized zones will be sent for analysis early in the new year to allow a calculation of total grades over the total drilled width of the zone. The orientation of the zone, and therefore the true width of the drill intersections, remains unknown at this time.
ABOUT THE CMB NORTHWEST PROPERTY
The CMB Northwest block is part of the Silver Spruce/Universal Uranium CMB/Seal Lake joint venture previously announced. Universal will earn 60% by spending 3 million over three years.
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 over 8,500 claims totaling more than 2,100 square kilometers, Silver Spruce is the second largest landholder in one of the world's premier emerging uranium districts. In the summer of 2006, a large-scale exploration program resulted in the first uranium discovery in early-stage follow-up of airborne surveys. With experienced partners and strong financial backing, Silver Spruce is emerging as a leading uranium explorer in Labrador.
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.
For Further Information Contact:
SILVER SPRUCE RESOURCES
HEAD OFFICE
Gordon Barnhill, CFO & Director
Phone: 902.527.5700
Fax: 902.527.5711
E-mail: gbarnhill@silverspruceresources.com
Web: www.silverspruceresources.com
INVESTOR RELATIONS
Bill Galine, Director of Corporate
Communications
Phone: 604.662.3903 ext 106
E-mail: bgaline@universaluranium.com
Web: www.universaluranium.com
December 19, 2006 Universal Signs Option Agreement with UraniumCore
NR 06-34
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that it has signed an option agreement with UraniumCore Company (OTCBB: UCCO) whereby UraniumCore can earn a 60 percent interest in Universal's 88 unpatented claims in Colorado. The properties consist of 42 claims in Marshall Pass, Saguache County, and 46 claims in the Jamestown area of Boulder County.
Under the terms of the option agreement, UraniumCore can acquire a 60 percent interest in the properties by:
Paying $100,000 in cash payments over a three-year period.
Issuing and delivering to Universal Uranium certificates representing 1.2 million shares in the capital of UraniumCore;
Incurring the following work commitments on the property of;
US $200,000 on or before twelve months from the date of this agreement;
An additional US $400,000 on or before 24 months from the date of the agreement;
An additional US $500,000 on or before 36 months from the date of the agreement.
MARSHALL PASS PROPERTY
In the 1950's the Lookout Uranium mine, located within the Marshall pass claim blocks, mined 514 tons of ore grading 1.17% uranium, which produced 13,500 pounds of U308. The Marshall Pass Property is considered a favorable exploration target to host another mine similar to the nearby Pitch Mine, which produced 104,520 tons of ore with an average grade of 0.58% U308.
JAMESTOWN PROPERTY
The Jamestown claims cover the past producing Fairday Uranium Mine, which produced 182,679 lbs of U3O8 with an average grade of 0.44% from a tertiaryvein system. These claims are favorable exploration targets to discover adeposit similar to the Schwartzwalder Mine, Colorado's largest uranium mine,which produced in excess of 10.5 million pounds of U308 from six veins.
For all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
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December 18, 2006 Universal Closes $2 Million Flow Through Financing
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that it has completed its previously announced brokered private placement. The Company has received gross proceeds of $2,025,000 on the private placement of 2,700,000 flow-through shares at a price of $0.75 per share through Haywood Securities Inc., as Agent, and the Mineral Fields Group.
The Company paid a cash commission equal to 7.5% of the gross proceeds of the private placement and a finance fee of 25,000 common shares, plus GST. In addition, the Company issued options entitling the holders to purchase up to 270,000 common shares of the Company at a price of $0.75 per share for a period of 12 months.
All securities issued by the Company pursuant to this private placement are subject to a four month hold period expiring on April 15, 2007.
The funds are intended to be used for general exploration expenditures on the Company's Newfoundland and Labrador projects, which will constitute Canadian Exploration Expenses (as defined in the Income Tax Act (Canada)) and will be renounced for the 2006 taxation year.
for all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine T: 604 662 3903 x 107
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December 06, 2006 Silver Spruce & Universal Announce CMB Results & Drill Program
NR 06-32
Highlights
Two Time showing - Central Mineral Belt Northwest 2 anomaly
Values to 5220 ppm (0.52%) U in soils
Channel samples to 300 ppm (0.03%) U3O8 over 6 m
Stream sediments to 117 ppm U
Diamond drilling program currently underway
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce results from trenching/channel, soil and stream sediment sampling, on the Northwest property located in the Central Mineral Belt (CMB) of Labrador and the commencement of diamond drilling.
"We are very pleased to release these initial results and with the progress that we have made on this project," states Lloyd Hillier, President & CEO of Silver Spruce Resources. "With this initial testing done, drill targets identified and the winter drill program already underway, we are on track with our aggressive exploration program."
The work, carried out to define drill targets for the current drill program, took place over approximately two months and was completed in late October. Trenching/channel and soil sampling targeted an anomalous radioactive zone, the Two Time showing. This showing is a radioactive anomaly covering an area of 300 meters by 50 meters. Channel/chip sampling showed anomalous values in all trenches. The highest grades were located in Trench 5 which gave 0.032% U3O8 over five meters including 0.051% U3O8 over one meter. The host rock is a felsic intrusive which has been brecciated and fractured carrying red earthy hematite and a grey mineral, possibly uraninite, associated with the fractures. Other results include trench 1 - 0.021% U3O8 over 3m; trench 2 - 0.03% U3O8 over 4m; trench 3 - 0.022% U3O8 over 3m; trench 4 - 0.022% U3O8 over 3m; trench 6 - 0.012% U3O8 over 2m and the Cliff - 0.032% U3O8 over 6m.
A total of 322, mainly B horizon soil samples, were taken at 25m intervals on lines 25m apart over a 700m strike length, from lines 2 S to 5 N on the grid. In the southern part of the grid, 20 anomalous samples (background < 2 ppm) with values up to 532 ppm uranium (U) were located. Two trends were noted -- the strongest extending from Line 0+25 S to Line 1+00 S, with values ranging from 4.3 to 532 ppm U. The second lies along the possible southern extension of the mineralization in the trenches, extending from 1+00 S to 1+75 S with values ranging from 59.9 to 2.1 ppm U. Trench 6, the southern most trench on Line 0+25 S, was flanked to the east by two weakly anomalous samples of 3.4 and 3 ppm and to the west, by a value of 532 ppm. The sampling crew noted a "radioactive spring" near the high sample site. The small pond, which lies just south of the grid, gives a lake bottom anomaly of 49 ppm U which may be explained by uranium mineralization extending into the pond.
In the northern portion of the grid a total of 28 samples gave anomalous values (>2 ppm) ranging from 2.1 to 5220 ppm (0.5%) U, with six samples giving values greater than 50 ppm U. The only anomalous values found coincident with the trenched mineralization were on Lines 2+75 and 3 N just east of the baseline, where values from 4.9 to 700 ppm U were found. The three strongest values, all over 500 ppm U, were located on Lines 3, 3+25 and 3+50 N at 0+50 E, giving results of 700, 5220 and 674 ppm U, and lying on strike and down slope from the Cliffx showing (original Two Time). The anomalous zone can be traced from 2+75 to 4+50 N, at approximately 0+50 E, a distance of 175 m.
Results were also received for 46 stream sediment samples taken from streams draining into the Kanairiktok River and Snegamook Lake on the CMB NW claim blocks. A total of 13 were considered to be anomalous (> 20 ppm U) with samples varying from 1.4 to 117 ppm U. The two most anomalous streams were the two streams draining the ponds which lie to the south and southwest of the Two Time showing, where anomalous lake bottom values are found. The highest sample value (117 ppm U) is located in the vicinity of the soil anomalies on the southern part of the Two Time grid.
The soil and channel/chip results from the Two Time showing area have been used to establish drill targets for the Winter 2007 drill program, currently underway. In preparation for this program, the companies have established a winterized camp on the Kanairiktok River, approximately three kilometers from the showing, and have mobilized crews and drill equipment to the site.
Analyses were performed by Activation Laboratories in Ancaster, Ontario, an approved, accredited laboratory, using the delayed neutron activation technique, which gives good results for samples carrying up to one percent uranium.
For all the latest news visit Universal's web site at: www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
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November 27, 2006 Universal Uranium Announces Flow -- Through Financing
NR 06-31
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that it has negotiated a private placement of up to 2,700,000 flow-through shares at a price of 75 cents per share to raise gross proceeds of up to $2,025,000.
The placement will be brokered through Haywood Securities Inc.
The agent for the brokered private placement will receive a cash commission of 7.5 per cent of the gross proceeds raised in this offering. In addition, the agent will receive compensation options equal in number to 10 per cent of the number of shares sold. Each such option will entitle the agent to purchase one common share at an exercise price of 75 cents for a period of one year. The Company also agrees to pay Haywood a corporate finance fee of 25,000 common shares plus GST, payable upon closing.
In accordance with securities legislation, the shares issued under the private placements will be subject to a hold period of four months and one day from the date of issuance of such securities.
The private placement is subject to TSX-Venture Exchange acceptance for filing and required regulatory approvals.
The net proceeds of the private placement will be used to finance the Company's exploration programs on its Labrador properties, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2006 taxation year.
For all the latest news visit Universal's web site at: www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
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November 06, 2006 Universal Closes on Colorado and Labrador Properties
NR 06-29
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that it has closed on the agreement with Augustus Ventures LLC to acquire an option on 88 unpatented lode mining claims in Colorado (the "Colorado Properties"). The Colorado Properties consist of 42 claims in Marshall Pass, Saguache County and 46 in the Jamestown area of Boulder County. (Please see news release dated September 19, 2006.) Per the terms of the agreement, the Company has made an initial payment of US$10,000 and issued 67,000 common shares to Augustus Ventures LLC, which shares are subject to a four month hold period expiring on February 26, 2007.
The Company is also pleased to announce that it has closed on the option agreement between the Company and Tripple Uranium Resources whereby the Company may earn a 60% interest in 2,727 claims located in the Central Mineral Belt of Labrador, Canada. (Please see news released dated September 13, 2006.). Per the terms of the option agreement, the Company has paid $200,000 in exploration costs and issued 250,000 common shares, which shares are subject to a four month hold period to March 2, 2007.
For all the latest news visit Universal's web site at: www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
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October 17, 2006 Universal Commences Phase II Drilling at Lisbon Valley
NR 06-29
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce it has commenced the second phase of the previously announced two phase 30 hole drill program at it's 100 per-cent owned Lisbon Valley Property. This second phase will consist of 18 reverse-circulation drill holes totaling approximately 45,000 ft / 13,700 meters of drilling.
The data generated from the first phase of drilling indicates the potential presence of a large mineralized uranium system. The favorable host formation was intersected in nine of 12 holes and anomalous uranium values were received within the targeted host rocks in six holes. As a result, the Phase II drill hole locations have been re-spotted to target the identified zone.
Drilling is being conducted by Bob Beeman drilling of Moab, Utah and the field program is being managed by Universal Uranium's Richard Dorman B.Sc., vice president of exploration.
The Lisbon Valley Property consists of two contiguous claim blocks encompassing over 300 claims, totaling 7300 acres. This district produced the highest grades and thickest mineable width ever discovered in any of the five major uranium districts in the continental US. It was also the home to 17 previously producing uranium mines.
For all the latest news visit Universal's web site at: www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
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October 12, 2006 Universal Completes Phase I Exploration Program
NR 06-28872
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that its JV partner Silver Spruce Resources ("SSE") has completed a follow up exploration program on the anomalous radioactive zone CMB NW 2 target in the Central Mineral Belt ("CMB") of Labrador. A fully winterized camp on the south bank of the Kanairiktok River has also been established to be used as a base for further work in the area. A late fall/early winter drill program has been proposed to test the mineralization at the CMB NW 2 target subject to favorable results.
The work for the Phase I exploration program consisted of gridding, soil geochemistry, and hand trenching. A baseline was emplaced at 340 degrees extending northward for 350m (0 to 3+50 N) from the west side of the "helicopter landing" bog extending into the Kanairiktok River valley for approximately 100m and to the south, 225m (0 to 2+25 S), to a small pond. Lines were flagged to the east and west of the baseline 150 to 200m, for soil geochemistry and scintillometer surveys. The southern portion of the grid (0--2+25 S) was soil sampled (B horizon) at 25m intervals on 25m lines. The B horizon soil profile is well developed on this well drained area. A total of 114 samples were taken.
Six hand dug trenches were emplaced across the mineralized radioactive zone over a strike length of approximately 350m and across a width of 30-50m. The trenches were targeted using anomalous scintillometer readings. In addition, the rock face, which gave the original highly radioactive readings and the airborne anomaly, was chip sampled. A total of 86 channel/chip samples were taken (4126-4211). The trenches were dug to bedrock and then sawed using a hand held diamond saw, with samples chipped out using a chisel at 1m intervals. A description of the trenches and scintillometer results follows:
Trench 1 -- 0+87.5 N; Samples 4126-34 (9); 200 to > 10 K, generally 500 to 2 K cps.
Trench 2 -- 1+25 N; Samples 4135-42 (8); 200 -- 4200, generally > 1K cps
Trench 3 -- 1+65 N; Samples 4205-11 (7); 200 to 3900, generally 1-3 K cps
Trench 4 -- 2+05 N; Samples 4170-98 (29); 200 to 3600, generally 500-1500 cps.
Trench 5 -- 2+45 N, Samples 4143-50 (8); 800-9700, generally 1-2 K cps
Trench 6 -- 0+75 S, Samples 4199-4204 (6); no scintillometer readings taken
Cliff face -- 2+75 N, Samples 4151-69 (19), no scintillometer readings taken
All samples have been shipped to Activation Laboratories in Ancaster, Ontario for analysis for uranium and results are currently pending.
The CMB NW area is part of the Universal Uranium Ltd. ("UUL")/Silver Spruce joint venture. Under the terms of this agreement, UUL can earn a 60-percent interest in the properties by spending $2-million on exploration over a three year period with Silver Spruce acting as the operator during the earn-in period.
for all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
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September 19, 2006 Universal to Acquire Claims in Colorado
NR 06-26
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce the the acquisition of two properties. The Company has negotiated an agreement to acquire an option on 88 unpatented lode mining claims (the "Properties") in Colorado. The Properties consist of 42 claims in Marshall Pass, Saguache County and 46 in the Jamestown area of Boulder County. The Marshall Pass Property is considered a favorable exploration target to host another mine similar to the Pitch Mine. This mine produced 104,520 tons of ore with an average grade of 0.58% U308. The Jamestown claims are favorable exploration targets to discover a deposit similar to the Schwartzwalder Mine, Colorado's largest uranium mine, which produced in excess of 10.5 million pounds of U308 from six veins. Universal believes there is significant potential to discover additional vein systems similar to those previously discovered in the area.
Under the terms of the Agreement, the Company will acquire a 100% interest in the Properties by:
US$20,000 reimbursement costs incurred to locate and record the Claims.
US$10,000 and 67,000 common shares of Universal on the Effective Date.
US$30,000 on the date the drilling permit is received in respect to the Claims.
Issue 66,500 common shares of Universal six months from the date the first drilling permit is received in respect to the Claims.
US$10,000 in property payments on the first anniversary of the Effective Date and an additional US$ 10,000 in property payments on the second, third, fourth and fifth anniversaries.
US$40,000 in property payments on the sixth, seventh, eighth, ninth, and tenth anniversaries
Expending not less than US$400,000 over a three year period; US$100,000 in the first year, US$140,000 in the second year and US$160,000 in the third year.
For all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine
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September 13, 2006 Option Interest Tripple Uranium Labrador Properties
NR 06-25
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce the signing of an option agreement with Tripple Uranium Resources, wherein the company can earn a majority interest in 2,727 claims (approximately 68,000hectares/165,000 acres), in the Central Mineral Belt (CMB) of Labrador, Canada.
Under the terms of the agreement, Universal can earn a 60-per-cent interest by:
Paying 60% of all staking costs incurred by Tripple Uranium in the staking of 2,727 claims which is equal to $98,172.00.
Expend a total of $1,050,000 over a three year period: $200,000 the first year, $350,000 the second year and $500,000 the third year.
Issue an aggregate 600,000 common shares: 250,000 five days after the exchange approves the Agreement and an additional 350,000 ten days after UUL trades above $0.75 for (20) consecutive trading days.
Tripple Uranium will be the operator during the earn in period. Tripple Uranium's claims are on strike with properties held by Crosshair Exploration (CXX), Bayswater Uranium Corp (BAY) and Aurora Energy (AXU). Both Crosshair and Aurora have released significant findings in the area and as a result of these exploration results and the rise in price of uranium, the CMB has seen extensive claim staking over the past few months.
The acquisition of these new claims as well as those announced yesterday by Universal's joint venture partner, Silver Spruce Resources, makes Universal the second largest public landholder in the (CMB) with a total 8,290 claims.
For all the latest news visit Universal's web site at:
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September 12, 2006 Discovery of Mineralized Zone / Acquisition of Claims CMB
NR 06-24
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that Silver Spruce Resources, its joint venture partner, has located an anomalous radioactive zone in the course of ground follow up on airborne targets on the CMB NW claim group. Radiometric target CMB NW 2, one of those described in the press release of August 14, 2006, which is located to the south of the Kanairiktok River, has been located as a strongly radioactive zone on the ground, over an area of approximately 300 by 50 m. Scintillometer values from 20 locations over the 300 m long length of the zone, which trends approximately N-S (see attached map), range from > 10,000 to 2700 cps over outcrop, with seven samples giving > 10,000 cps using the GRS 110 scintillometer which measures total counts per second of gamma radiation. The zone remains open in all directions. The host rock is a felsic intrusive which has been brecciated and fractured with red earthy hematite and a grey mineral, possibly uraninite, associated with the fractures. Uranophane, a yellow alteration product of uranium, has been tentatively identified in the field. Twenty rock samples from these sites have been sent to Activation Laboratories in Ancaster, ON to be analyzed for U and related elements on a rush basis. Results are pending and will be reported as soon as they are received.
The discovery of the zone has prompted the acquisition of 600 claims (150 sq km), tied on to the north and west of the original CMB NW block. The new claims protect the northern extension of the anomalous area plus a series of airborne radiometric anomalies located by Brinex and partners in the 1970's, which lie just to the north of Snegamook Lake. The first 300 claims, tied on to the north of the original CMB NW block, were flown by Fugro Airborne surveys as an extension of the earlier radiometric / magnetic survey, in the last week. These results are pending. Ground follow up will take place once the data has been received by Fugro and anomaly prioritization has been completed.
The newly acquired claims form part of UUL/SSE joint venture and are subject to the agreement between the two companies which covers the CMB and Seal Lake areas. Under the terms of the agreement, Universal can earn a 60-per-cent interest in the properties by spending $2-million on exploration over a three year period with Silver Spruce as the operator during the earn-in period. This release has been approved by Peter Dimmell, P.Geo., who is a Qualified Person (QP) as defined in National Instrument 43-101.
For all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine
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August 31, 2006 Ground Follow up on Airborne Radiometric Survey Labrador
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that it's it's joint-venture partner Silver Spruce Resources Inc. (TSX: SSE) has begun ground follow up on the Central Mineral Belt ("CMB") uranium properties. A helicopter-supported five man crew was mobilized to Postville, on the Labrador Coast, late last week. The follow up consists of prospecting using hand-held scintillometers on anomaly targets selected by consultant, Ted Urquhart of Santiago, Chile. A total of 17 high priority targets have been defined on the CMB properties; four on Jacques Lake, two on CMB NW, four on CMB SE, one on CMB E and six on the CMB NE. There are also many other lower priority targets shown. The targets were selected on the basis of U/Th ratios using the 95th percentile, total uranium, total field magnetics and geology. The maps for the areas, with the high priority targets shown, are available on the UUL website at www.universaluranium.com under the "Projects" heading under Labrador, Central Mineral Belt Properties.
Fugro Airborne Surveys of Toronto, Ontario, completed the approximately 10,000 line km helicopter borne radiometric and magnetic survey of the CMB and Seal Lake ("SL") areas of Newfoundland and Labrador in early August, 2006. Line spacing was 100 m in the CMB and 200 m in SL. The 4,963 claims, totaling approximately 124,000 hectares or 1240 sq km, cover anomalous government uranium in lake sediment values ranging from 10 to 213 ppm against a background of approximately 5 ppm underlain by units that are favorable as hosts for uranium mineralization. They are the second largest claim holdings in the CMB and are being explored jointly with Silver Spruce Inc. (TSX: SSE). Under the terms of the agreement, UUL can earn a 60-per-cent interest in the properties by spending $2-million on exploration over a three year period with SSE as the operator during the earn-in period.
Anomaly prioritization for ground follow up in the SL area continues. Targets in the CMB/SL area include: unconformity style uranium deposits along sedimentary contacts, IOCG type deposits, shear hosted uranium mineralization associated with felsic volcanism (similar to the Michelin deposit of Aurora Energy) and granite hosted deposits. The CMB properties lie along strike, and in proximity to, properties held by Aurora Energy Inc. (TSX -- AXU), Crosshair Exploration & Mining Corp. (TSX -- CXX) and the Santoy -- Monster Copper JV (TSX -- SAN).
for all the latest news visit Universal's web site at: www.universaluranium.com
TSX-V: UUL
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August 16, 2006 Universal Completes Radiometric Survey in Labrador
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that Fugro Airborne Surveys of Toronto, ON, has completed the helicopter borne radiometric and magnetic survey of the Central Mineral Belt (CMB) and Seal Lake (SL) areas of Labrador. The 4,963 claims, totaling approximately 124,000 hectares or 1240 sq km, are the second largest claim holdings in the CMB and are being explored jointly with Silver Spruce Resources (SSE). Under the terms of the Universal agreement, Universal can earn a 60-per-cent interest in the properties by spending $2-million on exploration over a three year period with Silver Spruce as the operator during the earn-in period. The government of Newfoundland and Labrador, through its Junior Exploration Assistance Program, has provided a total of $150,000 towards the cost of the survey. This assistance is gratefully acknowledged.
Total line kilometers in the survey were approximately 10,500. Claims in the CMB were covered at 100 m line spacing, with the SL claims covered at 200 m line spacing. Anomaly prioritization for follow up ground exploration is in progress using contractor Ted Urquhart of GeoExplo, based in Santiago, Chile. The helicopter supported ground prospecting follow up is expected to begin within the next week based out of Postville.
The UUL/SSE properties cover anomalous government uranium in lake sediment values ranging from 10 to 213 ppm. This is against a background of approximately 5 ppm underlain by units that are favourable as hosts for uranium mineralization. These include the Bruce River and Sylvia River formations, the fluorite bearing granites, and Aillik Group units. Targets in the CMB / Seal Lake area include: unconformity style uranium deposits along sedimentary contacts, IOCG type deposits, shear hosted uranium mineralization associated with felsic volcanism, similar to the Michelin deposit of Aurora Energy, and granite hosted deposits. The CMB properties lie along strike, and in proximity to, properties held by Aurora Energy Inc., Crosshair Exploration and Mining Corp. and the Santoy -- Monster Copper JV.
for all the latest news visit Universal's web site at:
www.universaluranium.com
TSX-V: UUL
Bill Galine T: 604 662 3903 x 107
Investor Relations F: 604 662 3904
Request Info Package: E: info@universaluranium.com
August 10, 2006 Universal Discovers Uranium In Lisbon Valley
Universal Uranium Ltd. (TSX-V UUL) is pleased to announce the results of the Phase 1 drilling program on its 100% owned Lisbon Valley Property ("the Property") in San Juan County, Utah.
Twelve reverse circulation drill holes for a total of 30,780 feet were completed to test the down dropped (approximately 2500 ft.) northeast side of the Lisbon Valley anticline. (See Diagram A).
Four holes intersected significant uranium mineralization. Hole A5 intersected 0.054% U3O8 over 5 feet at the top of the Moss Back Member and 0.043% U308 at the bottom of the Moss Back Member (this is the normal stratigraphic location of the deposits in the Lisbon Valley). Hole B3 intersected 0.041% U3O8 over 20 feet in the Morrison Formation, 10 feet of 0.054% U3O8 at the top of the Moss Back Member and 30 feet of 0.030% U3O8 at the bottom of the Moss Back Member. Hole C4 intersected 35 feet averaging 0.03 % U3O8 including two five foot sections that assayed 0.064 and 0.060% U3O8. Hole D1 intersected 20 feet averaging 0.043% U3O8 including 10 feet of 0.047% U3O8 and 5 feet of 0.063% U3O8.
Assays in two of the remaining holes are highly anomalous in the Moss Back Member (>0.01% U3O8) as shown in the attached table. In three holes the Moss Back Member was faulted out and in three other holes there was no recovery at the stratigraphic position of the Moss Back Member. Down hole probe results were positive in one of these holes.
--------------------------------------------------------------------
HOLE FROM TO THICKNESS AVERAGE
NO. (FT) (FT) (FT) (U3O8) REMARKS
--------------------------------------------------------------------
A1 No assays Hole probed; no anomaly
A2 No assays Hole probed; no anomaly
A5 2480 2485 5 0.054 Top of Moss Back Member
incl 2490 2515 25 0.012 Moss Back Member
and 2530 2540 10 0.043 Bottom of Moss Back Member
A6 2570 2600 30 0.017 Moss Back Member
A7 No assays Hole probed; no anomaly
B3 180 200 20 0.014 Morrison Formation
320 380 60 0.026 Morrison Formation
incl 340 360 20 0.041
2315 2325 10 0.054 Top of Moss Back Member
2555 2585 30 0.030 Bottom of Moss Back Member
incl 2555 2560 5 0.050
and 2580 2585 5 0.065
B5 200 220 20 0.021 Morrison Formation
260 280 20 0.017 Morrison Formation
2435 2455 20 0.013
C4 2580 2615 35 0.030 Moss Back Member
incl 2585 2590 5 0.064
and 2605 2610 5 0.060
D1 2405 2425 20 0.043 Chinle Formation
incl 2405 2415 10 0.047
and 2420 2425 5 0.063
D5 No assays Moss Back faulted out
E5 No assays Moss Back faulted out
E6 No assays Moss Back faulted out
--------------------------------------------------------------------
All holes intersected comparable stratigraphy to that which hosted the Mi Vida deposit and several other deposits (total production approximately 60 million pounds of U3O8 at grades of approximately 0.4% U3O8) on the southwest side of the anticline and the Lisbon valley Mine located directly north of the Property on the northeast side of the anticlinal axis. The Lisbon Valley Mine was put into production by Rio Algom and produced more than 23 million pounds of U3O8 over a 16 year mine life.
Previously discovered uranium deposits located in the Lisbon Valley are located within zones containing pyrite and carbon trash in the Moss Back Member (sandstones) of the Chinle Formation. Other mineralization in the stratigraphy of southeast Utah include deposits in the Morrison Formation which in the Lisbon Valley area is approximately 2300 feet higher in the stratigraphy than the Moss Back Member. Nine of the twelve holes in the recent program intersected the Moss Back Formation and indications are that the unit is thickening to the east.
Samples were sent to Jacobsen Laboratories in Tucson Arizona for preparation. The samples were pulverized to --150 mesh and the resulting pulps were forwarded to International Plasma Labs Ltd. in Richmond, British Columbia. The samples were digested in a multi acid bath and analyzed by the induced coupled plasma method.
The company is strongly encouraged as a result of the favorable host formation intersected in nine of twelve holes and anomalous uranium values were received within the targeted host rocks in at least six holes. The previously mentioned results are being utilized to plan the Phase 2 drill program.
The field program is being managed by geologist, Richard Dorman of Reno Nevada. Mr. Ken Thorsen, B.Sc., P.Eng., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the content of this press release for the Company.
DIAGRAM A
ON BEHALF OF THE BOARD:
(signed) "Clive H. Massey", President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
Renmark Financial Communications Inc.
Christina Lalli: clalli@renmarkfinancial.com
Marc-Antoine Lemieux: malemieux@renmarkfinancial.com
Tel. : (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
August 01, 2006 Stock Options Granted
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that pursuant to Exchange policies and the Company's Stock Option Plan, an aggregate of 100,000 shares have been granted as incentive stock options at an exercise price of $0.48 per share. The options are exercisable for a period of five years, ending on July 31, 2011, and are subject to the requirements of the TSX Venture Exchange.
Universal Uranium Ltd. 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 an experienced and highly skilled board and management team with significant successes in managing early stage mineral exploration companies.
for all the latest news visit Universal's web site at: www.universaluranium.com TSX-V: UUL
Bill Galine T: 604 662 3903 x 107
Investor Relations F: 604 662 3904
Request Info Package: E: info@universaluranium.com
June 29, 2006 Airborne Radiometric Survey Starts in Central Mineral Belt
Universal Uranium Ltd. (TSX-V UUL) (the "Company"), is pleased to announce that Fugro Airborne Surveys of Toronto, ON, have begun the approximately 10,000 line km helicopter borne radiometric and magnetic survey of the Central Mineral Belt (CMB) and Seal Lake areas of Labrador. The surveys are based out of Postville on the coast and a camp on Seal Lake for the interior. The 4,963 claims, totaling approximately 124,000 hectares or 1240 sq km, are the second largest claim holdings in the CMB and are being explored jointly under an agreement with Silver Spruce Resources Inc. (SSE). Under the terms of the agreement, Universal can earn a 60-per-cent interest in the properties by spending $2-million on exploration over a three year period. Silver Spruce is the operator during the earn-in period. The government of Newfoundland and Labrador, through its Junior Exploration Assistance Program, has provided a total of $150,000 towards the cost of the survey. This assistance is gratefully acknowledged.
As a result of the exploration results and the rise in price of uranium, the CMB has seen extensive claim staking and exploration over the past few years making it the second most active area for uranium exploration in Canada. Targets are: unconformity type uranium deposits related to sedimentary contacts; IOCG type deposits, shear hosted uranium mineralization associated with felsic volcanism, similar to the Michelin deposit of Aurora Energy, and granite hosted deposits.
The properties lie along strike, and in proximity to, properties held by Aurora Energy Inc., Crosshair Exploration and Mining Corp. and the Santoy -- Monster Copper JV. These companies staked known uranium showings and deposits, and then carried out airborne radiometric / magnetic surveys, which resulted in the location of new uranium showings in a number of areas (company press releases -- November 05 to January 06). Compilation work by SSE has shown that the properties cover anomalous government uranium in lake sediment values ranging from 10 to 213 ppm against a background of approximately 5 ppm underlain by units that are favorable as hosts for uranium mineralization, such as the Bruce River formation, Sylvia River formation, fluorite bearing granites and Aillik Gneiss. Previous radiometric surveys which were widely spaced (422 m minimum flight line spacing), carried out by, or on behalf of, Brinex in the 1960's and 1970's, also show radiometric anomalies, with little follow up documented, in the northeastern claim block.
The exploration budget for regional exploration, consisting of data compilation, the airborne radiometric / magnetic survey followed by prospecting, and sampling to evaluate targets, is approximately $1 M. Follow up will consist of gridding, trenching and drilling with a budget dependent upon results. Field work will begin once targets have been generated by the survey, expected by late July.
This release has been approved by Peter Dimmell, P.Geo., a Qualified Person (QP) as defined in National Instrument 43-101.
for all the latest news visit Universal's web site at: www.universaluranium.com
TSX-V: UUL
Bill Galine T: 604 662 3903 x 107
Investor Relations F: 604 662 3904
Request Info Package: E: info@universaluranium.com
June 12, 2006 Universal Uranium Appoints Two Mining Executives To Board
Vancouver, British Columbia, June 12, 2006 -- Universal Uranium Ltd. is pleased to announce that it has appointed John Hite and Ronald Atlas as directors of the Company.
Mr. Hite graduated from the Colorado School of Mines as a geologist and has over 28 years experience in the junior mining industry. He has worked as a geologic consultant since 1978 and is a Qualified Person as defined in National Instrument 43-101. Previously he was with Micronesia Mineral Resources Company, Golden Sitka Inc, and Golden Palm Resources, as well as Director and President of East Asia Gold Corp. Presently Mr. Hite is President and Director of Marifil Mines Ltd.
Mr. Atlas is a Certified Public Accountant and graduate of DePaul University School of Law with a Juris Doctorate Degree and is a licensed attorney in the U.S. Mr Atlas also serves on the board and is Chief Operating Officer of Patriot Power Corp, a private uranium exploration company.
Robert Pirooz and Kevin Mahoney will be stepping down as directors effective immediately. The Company would like to thank them both for their service and their past contributions to the board.
Universal Uranium Ltd. 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: For further information contact:
(signed) "Clive H. Massey," President
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
May 01, 2006 $1.97 Million Private Placement Closes
Vancouver, British Columbia, May 1, 2006 -- Universal Uranium Ltd. (TSX Venture: UUL) -- (the "Company") is pleased to announce that it has closed its previously announced brokered private placement. The Company issued an aggregate of 2,626,834 Units, of which 2,138,334 Units were brokered through Blackmont Capital Inc. (the "Agent") and 488,500 Units were sold by the Company to purchasers introduced by First Canadian Capital Markets Ltd. ("FCCM"), all at a price of $0.75 per Unit. Each Unit is comprised of one common share of the Company and one-half of one transferable common share purchase warrant (the "Warrant"). Each full Warrant is exercisable into one additional common share of the Company for a period of two years at an exercise price of $1.00. The common shares, warrants and any shares issued pursuant to warrant exercises are subject to a four-month hold period expiring August 29, 2006.
In connection with the private placement, the Company paid an aggregate of $144,095 in cash and issued an aggregate of 262,683 non-transferable options (the "Options") to the Agent and FCCM. Each Option entitles the purchase of one unit (an "Option Unit") at a price of $0.75 for a period of two years. Each Option Unit is identical to the Units except that the warrants forming part of the Option Units are non-transferable. The Company also paid a corporate finance fee of $15,000 plus GST to the Agent. All securities issued to the Agent and to FCCM are subject to a four-month hold period expiring on August 29, 2006.
In addition to working capital and general corporate purposes, the proceeds from the offering will be used to finance the acquisition of the Artillery Peak Uranium Property (see press release of February 20, 2006) and to fund further mineral exploration and development of the Company's Artillery Peak, Lisbon Valley and CMB of Labrador properties.
Universal Uranium Ltd. 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 an experienced and highly skilled board and management team with significant successes in managing early stage mineral exploration companies.
ON BEHALF OF THE BOARD:
(signed) "Clive H. Massey", President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
Renmark Financial Communications Inc.
Christina Lalli: clalli@renmarkfinancial.com
Marc-Antoine Lemieux: malemieux@renmarkfinancial.com
Tel. : (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
April 12, 2006 Universal Uranium Acquires Additional Claims at Artillery Peak
Vancouver, British Columbia, April 12, 2006 -- Universal Uranium Ltd. (TSX Venture: UUL) -- Further to the Company's news release of February 20, 2006, the Company is pleased to announce that it has staked an additional 35 unpatented lode mining claims. These claims are contiguous to the previously acquired 36 claims located in Mohave County, Arizona, and encompass 1,467 acres. The recent staking increases Universal's number of claims to 71.
According to a 1979 report by Central and South West Fuels, Inc., the Artillery Peak Property contains a historical resource estimate of 1,698,715 pounds of U308 with an average grade of 0.1131 per cent. According to the 1979 report, a total of 71 drill holes (containing 105 strongly mineralized intercepts) were used in the resource calculations.
Ken Thorsen P.Eng., B.Sc. has reviewed all the scientific and technical information regarding the property in this news release. Readers are cautioned that while the historical estimate is considered to be relevant, the Company has not done the necessary work to verify the classification of the resource, and the reader should not rely upon these historical estimates. The Company's management and consultants intend to carry out a mineral resource estimate to NI 43-101 requirements.
Universal Uranium Ltd. 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) "Clive H. Massey", President
For further information contact :
Bill Galine, Investor Relations
Telephone : (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
March 30, 2006 Contract Awarded for Airborne Radiometrics / Magnetics
Vancouver, British Columbia, March 30, 2006 -- Universal Uranium Ltd. is pleased to announce that it has awarded a contract for approximately 10,000 line km of helicopter borne radiometrics and magnetics to Fugro Airborne Surveys of Toronto, ON. The 4,963 claims, totaling approximately 124,000 hectares or 1240 sq km, in the Central Mineral Belt (CMB) of Labrador make Universal Uranium the second largest claim holder in the CMB. The properties are being explored jointly under an agreement with Silver Spruce Resources (SSE), of Nova Scotia. Under the terms of the agreement, Universal can earn a 60 per-cent interest in the properties by spending $2 million on exploration over a three year period. Silver Spruce is the operator during the earn-in period.
The properties cover anomalous government uranium in lake sediment values ranging from 10 to 213 ppm against a background of approximately 5 ppm hosted in geological units which are favorable as hosts for uranium deposits. The sample spacing in the survey is approximately 1 sample per 5 square km.
The properties lie along strike and in proximity to properties held by Aurora Energy Inc. (Fronteer/Altius Group), Crosshair Exploration and Mining Corp. and the Santoy/Monster Copper JV. These companies staked known uranium showings and deposits, and then carried out airborne radiometric / magnetic surveys, which resulted in the location of new uranium showings in a number of areas (company press releases -- November 05 to January 06). As a result of the exploration results and the rise in price of uranium, the CMB has seen extensive claim staking and exploration over the past couple of years making it the second most active area for uranium exploration in Canada. Targets are: unconformity type uranium deposits related to sedimentary contacts; IOCG type deposits and shear hosted uranium mineralization associated with felsic volcanism, similar to the Michelin deposit of Aurora Energy.
An exploration budget of $ 1 million for the regional exploration has been approved by Universal. This work will consist of data compilation, airborne radiometric / magnetic survey followed by prospecting, and sampling to evaluate targets located by the survey. Gridding, trenching and drilling will follow when targets have been defined. The field work will begin in the spring when weather permits.
This release has been approved by Peter Dimmell, P.Geo., Vice President of Exploration for Silver Spruce, who is a Qualified Person (QP) as defined in National Instrument 43-101.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
March 21, 2006 Universal Uranium Commences Drilling at Lisbon Valley
Vancouver, British Columbia, March 21, 2006 Universal Uranium Ltd. reports that drilling has commenced on its 100% owned Lisbon Valley Property in San Juan County, Utah. Phase 1 drilling will consist of 6 to 8 drill holes for approximately 6,800 meters of drilling.
The Lisbon Valley Property consists of two contiguous claim blocks encompassing 300 + claims, totaling over 7300 acres. These claims cover the downthrown side of the Lisbon Valley Anticline. The claims are located on the northeastern side of the Lisbon Fault, and extend south from the Lisbon Mine for a distance of more than six miles to the southeast. The Lisbon Mine was put into production by Rio Algom and produced over 23 million lbs of U308 over its 16 year mine life.
Universal Uranium Ltd. 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) "Clive Massey", President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
March 10, 2006 Universal Uranium Arranges $2 Million Private Placement
NR-06-10
Vancouver, British Columbia, March 10, 2006 - Universal Uranium Ltd. has engaged Blackmont Capital Inc. ("Blackmont") to conduct a brokered private placement of up to 2,666,700 units at a price of $0.75 per unit, with an over allotment option of up to 15% of the number of units sold. Each unit will consist of one common share and one half of one transferable common share purchase warrant. Each whole warrant shall be convertible into one common share at a price of $1.00 for a period of two years. Blackmont will receive a cash commission equal to 7.5% of the gross proceeds from the sale of the units and compensation options equal to 10.0% of the number of units sold under the offering, each compensation option convertible into one unit of the Company at a price of $0.75 for a period of two years, and a corporate finance fee of $15,000 for services rendered in connection with the offering.
Proceeds of the financing will be used for general exploration expenditures, working capital and other corporate purposes.
The financing is subject to regulatory acceptance.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
March 07, 2006 Universal Uranium Closes on $4.6 Million Private Placement
NR-06-9
Vancouver, British Columbia, March 7, 2006 - Universal Uranium Ltd. (the "Company") is pleased to announce that it has completed its previously announced brokered private placement. The Company has received gross proceeds of $4,601,750.25 on the private placement of 6,135,667 units at a price of $0.75 per unit through Haywood Securities Inc. as Agent. Each unit (a "Unit") consists of one share (a "Share") and one-half transferable warrant (a "Warrant"). Each whole Warrant entitles the purchase of one share (a "Warrant Share") at a price of $1.00 for a period of two years.
The Company paid a cash commission and issued 613,566 Agent's Options entitling the holders to purchase an additional 613,566 Units at a price of $0.75 per Unit. Each Unit consists of one Share and one-half non-transferable warrant ("Agent's Option Warrant"). Each whole Agent's Option Warrant entitles the purchase of a Warrant Share as set out above. In addition, the Company paid a finance fee of 25,000 Units.
All securities issued by the Company pursuant to this private placement are subject to a four month hold period expiring on July 7, 2006.
Proceeds of the financing will be used for general exploration expenditures, working capital and other corporate purposes.
Universal Uranium Ltd. is a publicly held Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties located in favourable 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) "Clive H. Massey," President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
February 21, 2006 Universal Uranium Acquires Artillery Peak Uranium Property
Vancouver, British Columbia, February 20, 2006 - Further to the Company's news release of February 14, 2006, the Company announces that it has signed a letter agreement (the "Agreement") to acquire an option on 36 unpatented lode mining claims (the "Property") located in Mohave County, Arizona from Artillery Peak Uranium Corp. ("Artillery").
According to a 1979 report by Central and South West Fuels, Inc., the Artillery Peak Property contains a historical resource estimate of 1,698,715 pounds of U308 with an average grade of 0.1131 per cent. According to the 1979 report, a total of 71 drill holes (containing 105 strongly mineralized intercepts) were used in the resource calculations.
Under the terms of the Agreement, the Company will acquire a 100% interest in the Property by:
Cash
paying to Artillery an aggregate US$300,000, as follows:
US$50,000 on the date that is the earlier of February 20, 2006 and the date of execution of the Agreement;
US$50,000 on the date that is the earlier of April 18, 2006 and the date that is the date of signing a formal Option Agreement (the "Option Date");
US$50,000 on the first year anniversary of the Option Date;
US$50,000 on the second year anniversary of the Option Date; and
US$100,000 on the third year anniversary of the Option Date;
paying to the Underlying Vendors, as to 50% each, an aggregate US$1,000,000 as follows:
US$50,000 on the earlier of February 20, 2006 and the date that is the date of signing of the Agreement, which amount is covered by the payment to Artillery referred to in (a)(i) above;
US$100,000 on the earlier of April 18, 2006 and the Option Date;
US$150,000 on the first year anniversary of the Option Date;
US$200,000 on the second year anniversary of the Option Date; and
US$500,000 on the third year anniversary of the Option Date;
Securities
issuing to Artillery an aggregate 3,000,000 common shares, as follows:
150,000 common shares within 5 business days of acceptance for filing by the TSX Venture Exchange of the Agreement ("TSXV Approval");
500,000 common shares on the Option Date;
500,000 common shares on the first year anniversary of the Option Date;
850,000 common shares on the second year anniversary of the Option Date; and
1,000,000 common shares on the third year anniversary of the Option Date;
issuing 1,000,000 non-transferable share purchase warrants to the Underlying Vendors, as to 50% each, to purchase up to 1,000,000 common shares of the Issuer at a price per share of $0.88 for a period of two years;
Work Commitments
expending or incurring expenses, directly or indirectly, in connection with the maintenance, exploration, development or equipping of the Property for commercial production, of not less than an aggregate US$3,000,000, as follows:
not less than an aggregate US$250,000 by the first year anniversary of the Option Date;
not less than an aggregate US$750,000 by the second year anniversary of the Option Date;
not less than an aggregate US$1,750,000 by the third year anniversary of the Option Date; and
not less than an aggregate US$3,000,000 by the fourth year anniversary of the Option Date.
The transaction is subject to Yellow Cake royalties totaling 3%. The Company will have the right to reduce the royalties by paying to Artillery an agreed amount.
A finder's fee will apply in this transaction.
Ken Thorsen P.Eng., B.Sc. has reviewed all the scientific and technical information regarding the property in this news release. Readers are cautioned that while the historical estimate is considered to be relevant, the Company has not done the necessary work to verify the classification of the resource, and the reader should not rely upon these historical estimates. The Company's management and consultants intend to carry out a mineral resource estimate to NI 43-101 requirements.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
February 14, 2006 Universal Uranium to Acquire Artillery Peak Uranium Property
NR-06-07
Vancouver, British Columbia, February 14, 2006 - Further to the Company's news release of February 2, 2006, the Company announces that it has negotiated an agreement (the "Agreement"), subject to execution of documentation and regulatory approval, to acquire an option on 36 unpatented lode mining claims (the "Property") located in Mohave County, Arizona from Artillery Peak Uranium Corp. ("Artillery").
Under the terms of the Agreement, the Company will acquire a 100% interest in the Property by: (i) paying an aggregate of US$300,000 to Artillery; (ii) paying an aggregate of US$1,000,000 to the underlying vendors of the Property, and (iii) issuing an aggregate of 3,000,000 common shares to Artillery, all over a period of three years, and expending over a four year period not less than US$3,000,000 on the maintenance, exploration, development and equipping of the Property for commercial production. In addition, the Company will issue non-transferable share purchase warrants to the underlying vendors entitling the purchase of up to 1,000,000 common shares of the Company for a period of two (2) years from the closing of the Agreement with Artillery, at a price per share equal to the closing price of the Company's common shares on the day prior to the announcement of the closing of the Agreement. The transaction is subject to Yellow Cake royalties totaling 3%. The Company will have the right to reduce the royalties by paying to Artillery an agreed amount.
A finder's fee will apply in this transaction.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
February 02, 2006 Universal Uranium Negotiating to Acquire Interest in Additional Claims
Vancouver, British Columbia, February 2, 2006 -- Universal Uranium Ltd. (the "Company") announces that its is negotiating an option to acquire, subject to regulatory approval, an interest in 34 unpatented lode mining claims located in Mohave County, Arizona.
Universal Uranium Ltd. 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: For further information contact:
(signed) "Clive H. Massey," President
Bill Galine Investor Relations
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
January 30, 2006 Universal Uranium Arranges $5 Million Private Placement
NR-06-05
Vancouver, British Columbia, January 30, 2006 - Universal Uranium Ltd. has engaged Haywood Securities Inc. ("Haywood") to conduct a brokered private placement of up to 6,700,000 units at a price of $0.75 per unit, with an over allotment option of up to 2,700,000 units. Each unit will consist of one common share and one half of one transferable common share purchase warrant. Each whole warrant shall be convertible into one common share at a price of $1.00 for a period of two years. Haywood will receive a cash commission equal to 7.5% of the gross proceeds from the sale of the units and compensation options equal to 10.0% of the number of units sold under the offering, each compensation option convertible into one unit of the Company at a price of $0.75 for a period of two years, and a corporate finance fee at closing comprised of 25,000 units, plus GST, for services rendered in connection with the offering.
Proceeds of the financing will be used for general exploration expenditures, working capital and other corporate purposes.
The financing is subject to regulatory acceptance.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
January 18, 2006 Universal Uranium Options Interest in Silver Spruce's Labrador Properties
NR-06-02
Vancouver, British Columbia, January 18, 2006 - Universal Uranium Ltd. (the "Company"), is pleased to announce that it has optioned, from Silver Spruce Resources (SSE), the right to earn a majority interest in their 4,963 claim property (approximately 124,000 hectares / 300,000 acres), in the Central Mineral Belt (CMB) of Labrador, Canada. Under the terms of the agreement, Universal can earn a 60-per-cent interest by spending $2-million on exploration over a three year period with a minimum of $500,000 the first year and $750,000 each of the following two years. During the earn in period Silver Spruce will be the operator.
Silver Spruce's claims are on strike with properties that lie both to the east and west of those held by Aurora Energy Inc. (Fronteer/Altius group) and Crosshair Exploration and Mining Corp. These companies staked known uranium showings and deposits, and carried out airborne radiometric surveys, which resulted in the location of new uranium showings in a number of areas which they are now drill testing. As a result of the exploration results and the rise in price of uranium, the CMB has seen extensive claim staking over the past few months.
Universal and Silver Spruce, following the lead of the earlier successful explorers, will carry out an extensive exploration program which will include airborne radiometric and magnetic surveys and ground follow up including geophysics, geochemistry, prospecting and geology, in 2006. Trenching and drilling will test mineralization located.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
January 04, 2006 Universal Uranium Receives Permits to Drill for Uranium
NR-06-01
Vancouver, British Columbia, January 4, 2006 - Universal Uranium Ltd. (the "Company"), is pleased to announce that the Utah Bureau of Land Management has issued the company the necessary permits required to drill it's 100%-owned Lisbon Valley Uranium Project. The Lisbon Valley Uranium Project is located in Lisbon Valley in the southeastern corner of Utah, home of the world famous Mi Vida Mine as well as 16 other past producers.
The property consists of two contiguous claim blocks encompassing 300 + claims, totaling over 7300 acres. These claims cover the downthrown side of the Lisbon Valley anticline. The claims are located on the northeastern side of the Lisbon fault, and extend from the southern edge of the Lisbon Mine for a distance of more than six miles to the southeast. The Lisbon Mine was put into production by Rio Algom and produced over 23 million lbs of U308 over its 16 year mine life.
A two-phase exploration program consisting of 30 holes has been recommended by the company's technical staff. The company is currently in the process of identifying priority drill targets for the first phase of drilling.
Universal Uranium Ltd. 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) "Clive H. Massey," President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
October 24, 2005 Universal Uranium Closes Private Placement Financing
NR-05-10
Vancouver, British Columbia, October 24, 2005 - Universal Uranium Ltd. (the "Company"), is pleased to announce that it has completed the non-brokered private placement announced on September 27, 2005, for gross proceeds of CDN $1,000,999. The financing was oversubscribed and a total of 2,274,998 units at $0.44 per unit were issued. Each unit consists of one common share and one-half share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company at a price per common share of $0.55 for a period of one year.
Proceeds from the financing will be used for the execution of a drilling program at the Company's Lisbon Valley Uranium Property in San Juan County, Utah, the acquisition of additional properties, and for general working capital.
A finder's fee of $42,946.46 cash plus 5,409 units applied in this transaction.
ON BEHALF OF THE BOARD:
(signed) "Clive H. Massey," President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: bgaline@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
September 27, 2005 Private Placement Arranged
Vancouver, British Columbia, September 27, 2005 - Universal Uranium Ltd. (the "Company") has arranged a non-brokered private placement consisting of up to 2,275,000 units at $0.44 per unit, for total proceeds of $1,001,000. Each unit consists of one common share and one-half share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company at a price per common share of $0.55 for a period of one year.
Proceeds of the financing will be used for the execution of a drilling program on the Company's Lisbon Valley Uranium Property in San Juan County, Utah and for general working capital.
A finder's fee will apply in this transaction in accordance with the policies of the TSX Venture Exchange (the "Exchange"). The financing is subject to regulatory acceptance.
ON BEHALF OF THE BOARD:
(signed) "Clive H. Massey," President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: info@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
August 26, 2005 Universal Uranium Ltd. Elects Not to Proceed with Private Placement
NR-05-08
Vancouver, BC, August 26, 2005 - Universal Uranium Ltd. (TSX-V UUL) ("the Company") announces that due to market conditions the Company has decided not proceed with the private placement announced on June 28, 2005.
Universal Uranium Ltd. is an exploration company focused on acquiring, exploring and developing uranium properties in areas of favorable geo-political climates.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
Universal Uranium Ltd.
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: info@Universaluranium.com
August 16, 2005 Universal Uranium Appoints Mahoney as Director
Vancouver, BC, August 16, 2005 - Universal Uranium Ltd. (TSX-V UUL) is pleased to announce the appointment of Mr. Kevin Mahoney to the board of directors of the Company as of August 16, 2005.
Mr. Mahoney is a senior executive with 25 years of experience, and is currently president and chief executive officer of British Columbia Railway Company. Mr. Mahoney is responsible for the oversight and management of four distinct business operations, Vancouver Wharves Ltd., BCR Properties Ltd., BCR Port Subdivision Ltd. and BCR Captive Insurance Company Ltd.
Mr. Mahoney's extensive business experience includes managing the sale of the BC Rail Ltd. division to the Canadian National Railway Company for $1 billion, the role of senior vice president of the industrial components division of Wajax Ltd., as well as vice president and general manager of Saskatchewan Power Corporation. Mr. Mahoney holds a Bachelor's Degree in Business Administration from Lakehead University, in Thunder Bay, Ontario.
The Company has granted an option to Mr. Mahoney to purchase up to a total of 150,000 common shares in the capital of the Company. The options, which are subject to regulatory acceptance, are exercisable at a price of $0.52 for a five year period.
Universal Uranium Ltd. is an exploration company focused on acquiring, exploring and developing uranium properties in areas of favorable geo-political climates.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
Universal Uranium Ltd.
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: info@Universaluranium.com
June 28, 2005 Private Placement Arranged
Vancouver, British Columbia, June 28, 2005 - Universal Uranium Ltd. (the "Company") has arranged a non-brokered private placement consisting of 2,000,000 units at $0.50 per unit, for total proceeds of $1,000,000. Each unit consists of one common share and one-half share purchase warrant. Each full warrant will entitle the holder to purchase one additional common share of the Company at a price per common share of $0.65 for a period of one year.
Proceeds of the financing will be used for the execution of a drilling program on the Company's Lisbon Valley Uranium Property in San Juan County, Utah and for general working capital.
A finder's fee will apply in this transaction in accordance with the policies of the TSX Venture Exchange (the "Exchange"). The financing is subject to regulatory acceptance.
The Lisbon Valley Uranium Property consists of two contiguous claim blocks encompassing 302 unpatented load mining claims covering 7,300 acres in San Juan County, Utah. The acquisition of the Property, which recently received Exchange acceptance, involved the issuance of 3,500,000 common shares to Mayan Minerals Ltd., which shares are subject to a four-month hold period, expiring on October 3, 2005. In addition, the Company will make aggregate rental payments to Mayan of US$400,000 over a three year period and, when and if production commences on the Property, the Company has agreed to a sliding scale royalty to Mayan based on the price per pound of uranium. No finder's fee applied in this transaction.
ON BEHALF OF THE BOARD:
(signed) "Clive H. Massey," President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: info@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U.S. newswire services or for dissemination in the United States.
June 22, 2005 Stock Options Granted
Vancouver, British Columbia, June 22, 2005 - Universal Uranium Ltd. (the "Company") announces that pursuant to Exchange policies and the Company's Stock Option Plan, an aggregate of 750,000 shares have been granted as incentive stock options to directors, key employees and consultants of the Company at an exercise price of $0.52 per share. The options are exercisable for a period of five years, ending on June 21, 2010, and are subject to the requirements of the TSX Venture Exchange.
ON BEHALF OF THE BOARD:
(signed) "Clive H. Massey," President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: info@universaluranium.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
June 14, 2005 Universal Uranium Appoints Pirooz as Director
Vancouver, BC, June 14, 2005 - Universal Uranium Ltd. (TSX-V UUL) is pleased to announce the appointment of Mr. Robert Pirooz to the board of directors of the company as of June 13, 2005.
Mr. Pirooz is currently CEO of TSX and AMEX listed Regalito Copper Corp. Regalito Copper holds one of the world's largest undeveloped copper deposits. Mr. Pirooz is also General Counsel of TSX and NASDAQ listed Pan American Silver Corp., Chairman and an officer of TSX listed Northern Peru Copper Corp and, among others, a Director of TSX Venture listed Rodina Minerals Inc.
Mr. Pirooz was called to the British Columbia Bar association in 1990 after obtaining a Bachelor of Law degree from the University of British Columbia and studying commerce at Dalhousie. Mr. Pirooz' extensive legal and business experience includes the role of Vice-President and General Counsel for the BCR Group of Companies which, until its partnership with CN, operated the government owned railway in British Columbia. While at BCR, Mr. Priooz also held posts as the executive responsible for BCR's substantial IT department and property holding, company.
Universal Uranium Ltd. is an exploration company focused on acquiring, exploring and developing uranium properties in areas of favorable geo-political climates.
Universal Uranium Ltd
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: info@bluelightning.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
June 07, 2005 Universal Uranium Appoints Silbernagel as Director
Vancouver, BC, June 7, 2005 -- Universal Uranium Ltd. (TSX-V UUL) is pleased to announce the appointment of Mr. Corry J. Silbernagel, P.Eng. MBA, as a Director of the company on June 6, 2005.
Mr. Silbernagel holds an MBA from INSEAD in Fontainbleau, France and a Bachelors degree in Applied Science from the University of British Columbia. Mr. Silbernagel was most recently CFO of Cabo mining Enterprises Corp. (TSXV-CBE) one of Canada's largest exploration drilling services companies. Prior to Cabo, Mr. Silbernagel was a management and financial consultant working as a corporate advisor in strategy, finance, business development and marketing. As a professional engineer, Mr. Silbernagel has managed large-scale projects in excess of $100 million in the mining and oil and gas industry for companies that include Suncor Energy and TransAlta Energy. Mr. Silbernagel also sits on the advisory board of the ACT Cinemage Group (TSXV-CIG).
Mr. Ryan Krell has resigned from the board to facilitate Mr. Silbernagel's appointment. The company would like to thank Mr. Krell for his tenure as a board member.
Universal Uranium Ltd. is an exploration company focused on acquiring, exploring and developing uranium properties in areas of favorable geo-political climates.
UNIVERSAL URANIUM LTD.
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: info@bluelightning.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
May 11, 2005 Universal Uranium Ltd Appoints VP of Exploration
Vancouver, BC, May 11, 2005 -- Universal Uranium Ltd. (TSX-V ULL) is pleased to announce the appointment of Richard H. Dorman as the Vice President of Exploration. Mr. Dorman has many years of experience in the field and combined with his management skills, will be a strong asset to Universal's management team. Mr. Dorman will be responsible for the programs pertaining to the company's current property as well as evaluating any potential property acquisitions in the future.
Mr. Dorman holds a B.Sc. in Geology from the Mackay School of Mines, University of Nevada, Reno. Mr. Dorman's experience spans more than 29 years and covers all aspects of exploration He has extensive experience with sediment hosted mineralized deposits in Colorado, Wyoming, Utah and Nevada. Previously Mr. Dorman has worked for Getchell Gold Corporation, a division of Placer Dome, Plateau Resources and Atlas Minerals.
Universal Uranium Ltd. is a Canadian Uranium Exploration Company focused on acquiring, exploring and developing Uranium properties in areas of favorable economic and political climates.
UNIVERSAL URANIUM LTD.
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: info@bluelightning.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
May 02, 2005 Name Change for Blue Lighting Ventures Inc.
Vancouver, British Columbia -- Blue Lightning Ventures Inc.'s name has changed to Universal Uranium Ltd. (the "Company"). On May 3, 2005 the common shares of the Company under the new name "Universal Uranium Ltd." will commence trading on the TSX Venture Exchange. The new trading symbol for the Company will be "UUL". The new name reflects the Company's single emphasis on uranium.
No consolidation was involved in this name change.
UNIVERSAL URANIUM LTD.
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine Investor Relations
Telephone: (604) 662-3903
Email: info@bluelightning.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
April 21, 2005 Blue Lightning Retains Investor Relations Consultant
Vancouver, BC, April 21, 2005- Blue Lightning Ventures Inc. has entered into a consulting agreement with Bill Galine pursuant to which Mr. Galine will provide investor relations and corporate finance services to the Company. The consulting agreement is for a term of one year at a fee of $4,000 per month.
For the past 21 years, Mr. Galine has been involved in corporate finance and marketing. He has worked in public relations since 1984 as a business owner and officer of a public company. Mr. Galine served as vice-president of a publicly traded company. His combined experience and knowledge in the area of investor relations and business is an asset to Blue Lightning Ventures. The Company has granted an option to Mr. Galine to purchase up to a total 200,000 common shares in the capital of the company. The options, which are subject to regulatory acceptance, are exercisable at a price of 20 cents per share and will vest over a one year period.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Blue Lightning Ventures Inc.
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: info@Bluelightning.com
April 20, 2005 Name Change Proposed
Vancouver, British Columbia -- Blue Lightning Ventures Inc. (the "Company") is proposing a name change from Blue Lightning Ventures Inc. to Universal Uranium Ltd. The new name is being proposed to reflect the Company's single emphasis on uranium. No consolidation is involved.
Clive Massey, president of the Company, said: "The Company's efforts are now focused on acquiring, exploring and developing uranium properties. We believe that the new name, Universal Uranium Ltd., will more accurately reflect the nature of our business and our future corporate goals as we move forward."
The Company will be applying to the TSX Venture Exchange for approval of the name change.
Blue Lightning Ventures Inc.
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: info@Bluelightning.com
April 19, 2005 Blue Lightning Acquiries Lisbon Valley Uranium Property
Vancouver, BC, April 19, 2005 -- Blue Lightning Ventures Inc. (TSX-V BLL) has agreed, subject to regulatory approval, to acquire by lease a 100 per cent interest in over 7300 acres in a Lisbon Valley Uranium Property located in San Juan County, southeastern Utah. This area, known as the Four Corners, was the center of the uranium mining industry in the United States and the home of the famed Mi Vida Mine. The Mi Vida Mine was discovered by "Uranium King", Charles A. Steen, in 1952. The discovery of the Mi Vida sparked an exploration boom which led to the discovery and subsequent development of a number of other mines producing a total of 103,223,000 lbs of uranium. This represents more than 80 per cent of the uranium produced in the State of Utah.
Clive Massey, president of Blue Lightning Ventures, said, "We are pleased to be acquiring this property, with it's immediate proximity to the Mi Vida Mine, in the heart of the prolific uranium mining district of Lisbon Valley. The potential to discover a large deposit similar to those discovered in the area between 1952 to 1988 is considered to be excellent."
The property consists of two contiguous claim blocks encompassing 300+ claims. These claims cover the downthrown side of the Lisbon Valley anticline. The claims are located on the northeastern side of the main Lisbon fault, and extend from the southern edge of the Lisbon Mine for a distance of more than six miles to the southeast. The Lisbon Mine was put into production by Rio Algom and mined for 16 years.
The Company's objective is to commence geological work on the property with a view to identifying high potential drill targets. Permitting will begin immediately and is expected to take approximately 4 months.
Blue Lightning will acquire its interest in the property by way of two mining lease agreements each with initial terms of 5 years but which may be extended at Blue Lightning's election for unlimited further periods of 10 years. Under the terms of the lease agreements Blue Lightning has reimbursed the costs of staking and related transaction costs (which totaled approximately US$120,000), and will issue to Mayan Minerals Ltd. of Vancouver, B.C. a total of 3,500,000 common shares upon acceptance for filing of the lease agreements by the TSX Venture Exchange. As well, to keep the leases in good standing Blue Lightning must pay the required annual Bureau of Land Management maintenance fees and state land fees (approximately US$40,000), and make annual rental payments to Mayan totalling US$50,000 in the first two years of the agreements and thereafter US$100,000 until the property is placed into production. Once production has commenced, Blue Lightning has agreed to pay Mayan a minimum US$100,000 per year royalty, calculated, for uranium, as a fluctuating percentage of the value of uranium recovered based on the price of uranium and, for other metals, at 3% of the net returns from other metals recovered. Fuller details of the royalty payable on uranium can be found in Blue Lightning's Material Change Report dated April 19, 2005, filed on SEDAR (www.sedar.com). Annual rental payments will be credited against any royalty that ultimately becomes due. The lease agreements also permit certain deductions from any royalty amount payable to Mayan if Blue Lightning is required to pay U.S. federal or state royalties.
Ken Thorsen, P. ENG., a qualified person under National instrument 43-101, has prepared a qualifying report under the NI 43-101 guidelines for the property and is in agreement with the technical facts stated in this release.
Blue Lighting Ventures Inc is a Canadian uranium exploration company focused on acquiring, exploring and developing uranium properties in areas of favorable economic and political climates.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release
Blue Lightning Ventures Inc.
Signed: "Clive Massey"
Clive H. Massey, President
For further information contact:
Bill Galine, Investor Relations
Telephone: (604) 662-3903
Email: info@Bluelightning.com
April 04, 2005 Private Placement Closes
Vancouver, British Columbia -- Blue Lightning Ventures Inc. (the "Company") announces that its previously announced private placement has closed. The Company has received proceeds of $196,399.84 on the private placement of 350,714 units at $0.56 per unit. Each unit consists of one common share and one six-month non-transferable share purchase warrant. Each full warrant will entitle the holder to acquire an additional common share of the Company for $0.70. The proceeds of the private placement will be used for mineral property investigation and acquisition costs and general working capital. No finder's fee applied in this transaction.
BLUE LIGHTNING VENTURES INC.
Per: "Clive Massey"
Clive Massey, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
