Expedition Mining Inc. - News Releases

	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 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.

	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 INVESTOR RELATIONS Keir Reynolds, Ascenta Capital Partners Inc. Phone: 604.684.4743 ext. 231 Toll Free: 1.866.684.4743 ext. 231 E-mail: keir@ascentacapital.com Web: www.ascentacapital.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 INVESTOR RELATIONS Keir Reynolds, Ascenta Capital Partners Inc. Phone: 604.684.4743 ext. 231 Toll Free: 1.866.684.4743 ext. 231 E-mail: keir@ascentacapital.com Web: www.ascentacapital.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 Phone: 604.662.3903 Fax: 604.662.3904 INVESTOR RELATIONS Bill Galine/Taylor Little, Corporate Communications Phone: 604.662.3903 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.silverspruceresources.com INVESTOR RELATIONS Keir Reynolds, Ascenta Capital Partners Inc. Phone: 604.684.4743 ext. 231 Toll Free: 1.866.684.4743 ext. 231 E-mail: keir@ascentacapital.com Web: www.ascentacapital.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 INVESTOR RELATIONS Keir Reynolds, Ascenta Capital Partners Inc. Phone: 604.684.4743 ext. 231 Toll Free: 1.866.684.4743 ext. 231 E-mail: keir@ascentacapital.com Web: www.ascentacapital.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.

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