 |
| |   November 27, 2006
Universal Uranium Announces Flow -- Through Financing
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| | 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
Request Info Package:
T: 604 662 3903 x 107
F: 604 662 3904
E: info@universaluranium.com |
| |
| | November 06, 2006
Universal Closes on Colorado and Labrador Properties
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| | 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
Request Info Package:
T: 604 662 3903 x 107
F: 604 662 3904
E: info@universaluranium.com |
| |
| | October 17, 2006
Universal Commences Phase II Drilling at Lisbon Valley
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| | 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
Request Info Package:
T: 604 662 3903 x 107
F: 604 662 3904
E: info@universaluranium.com |
| |
| | October 12, 2006
Universal Completes Phase I Exploration Program
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| | 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
Request Info Package:
T:604 662 3903 x 107
F:604 662 3904
E:info@universaluranium.com |
| |
| | September 19, 2006
Universal to Acquire Claims in Colorado
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| | 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
Investor Relations
Request Info Package:
T: 604 662 3903 x 107
F: 604 662 3904
E: info@universaluranium.com |
| |
| | September 13, 2006
Option Interest Tripple Uranium Labrador Properties
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| | 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:
www.universaluranium.com
TSX-V: UUL
Bill Galine
Investor Relations
Request Info Package:
T: 604 662 3903 x 107
F: 604 662 3904
E: info@universaluranium.com |
| |
| | September 12, 2006
Discovery of Mineralized Zone / Acquisition of Claims CMB
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| | 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
Investor Relations
Request Info Package:
T: 604 662 3903 x 107
F: 604 662 3904
E: info@universaluranium.com |
| |
| | August 31, 2006
Ground Follow up on Airborne Radiometric Survey Labrador
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| | 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
Bill Galine T: 604 662 3903 x 107
Investor Relations F: 604 662 3904
Request Info Package: E: info@universaluranium.com |
| |
| | August 16, 2006
Universal Completes Radiometric Survey in Labrador
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| | 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
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| | 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. |
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