SOURCE: U Mining Resources Inc.

October 17, 2007 10:02 ET

U Mining Resources Inc. Announces the Development of Specific Operational Plans for Its Uranium Properties Portfolio

Management Commits to Full Surveys for Each of the Company's Uranium Properties

NEW YORK, NY--(Marketwire - October 17, 2007) - U Mining Resources Inc. (PINKSHEETS: UMNG) today announced that it has prepared specific operational plans for the several uranium properties that comprise the Company's project portfolio, as well as the completion of the necessary basic request data to go to tender for the execution of the next exploration phase of each asset. In addition, the Company indicated this morning that it will conduct full surveys in order to identify both measured & indicated, as well as inferred, resources on each of U Mining's uranium-rich project properties.

Following is a summary of the phased approach U Mining will undertake on its uranium properties in order to more specifically identify and target those zones that will provide the highest content ore, and the greatest return on investment for the Company and its shareholders:

Phase 1

Reconnaissance/prospecting fieldwork should be uniformly completed over the properties in predetermined specific areas, delimited by previous and recent research conducted on or close to the properties and also over known showings. The proposed plan includes: management, prospecting, rock sampling, assays, spectrometer readings and basic mapping. A detailed geological mapping campaign with simultaneous hand-held spectrometer readings on outcrops, with main focus to describe the presence of alteration minerals. Following results of this first phase, the Company will circumvent the key areas to conduct phase 2.

Phase 2

Airborne Gamma Ray and EM survey (900 line-KM at 100 m line spacing) and interpretation of fused geophysics and satellite imagery. Exploration will focus on finding basement graphite (EM) and locating structural traps. Detailed mapping will be conducted.

Phase 3

Diamond drilling program will be prepared focussing on the most attractive targets that are within the available exploration budgets.

Management is currently discussing the possibility of entering into a joint venture agreement with an operating mining company in order to amortize part of the costs involved in conducting a full survey on U Mining's properties.

To receive information letter and be added on the Company's mailing list, speak with one of the Investor Communications Representatives at U Mining's Investor Relations firm Equiti-trend Advisors. Reps are available on market days from 9:30 a.m. to 5:30 p.m. EDT by calling (800) 953-3350.

Or visit the Company's corporate website at www.umining.com

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Investor Relations
    Equiti-trend Advisors
    (800) 953-3350