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.
